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  • #3,841
  • Sep 29, 2008 6:27am Sep 29, 2008 6:27am
Quoting BillyRayValentine
There you go - I knew there was a better answer out there somewhere. Thanks RobinHood!
My pleasure! Thanks for excellent thread and good spirits!
  • #3,842
  • Sep 29, 2008 7:13am Sep 29, 2008 7:13am
Quoting BillyRayValentine
50% retracement and historical resistance.
Ok so close call on this one in getting stopped out from the lower level but paying out about +150 pips at most so far.

......Its good to be back.

.
  • #3,843
  • Sep 29, 2008 7:55am Sep 29, 2008 7:55am
Quoting Robin.Hood
A fix is a point in time when the reference price for the day is set. There are various fix hours during the day, in fx most notably per session, .......
Ah! So are these "fix times" set at specific unchanging hours of the day? If so, when? Are they the same for all pairs?

[Notice I avoided asking, "Are the fix times fixed?"]

.
  • #3,844
  • Sep 29, 2008 8:49am Sep 29, 2008 8:49am
what the fix....
for fix's sake...

I noticed sometime after NY opens, movements reverse. Didn't know it was the fix. Guess its not always at fixed and predictable times, you just should be aware of this.

Quoting Grath
Ah! So are these "fix times" set at specific unchanging hours of the day? If so, when? Are they the same for all pairs?

[Notice I avoided asking, "Are the fix times fixed?"]

.
forget about tomorrow, just steal away into the night
  • #3,845
  • Sep 29, 2008 9:32am Sep 29, 2008 9:32am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
I have learnt a lot from this thread and continue to do so...

I whipped up an indicator this morning, primarily for myself, but thought some others may find it useful... the only way I can really contribute and give back, just now at least, to this thread...

Essentially displays how many pips the current level is from a specified target level... you can also...

-- Change text size
-- Change position of text on screen
-- Modify the 3 levels at which the colour of the text changes
-- You can select which colours you want

It's pretty self-explanitory... I've included a screenshot below so you know how it should look if it's working...

This indicator does not alert, there are plenty of those around, it just displays pips-away-from-target in a clear way...

Feel free to hack and slash it to your hearts content...


Magnus
Attached Image(s) (click to enlarge)
Click to Enlarge Name: YuppiePriceLevelIndicator_1.jpg Size: 105 KB
Click to Enlarge Name: YuppiePriceLevelIndicator_2.jpg Size: 96 KB
Attached File(s)
File Type: mq4 Yuppie Price Level.mq4   3 KB | 572 downloads
  • #3,846
  • Sep 29, 2008 10:52am Sep 29, 2008 10:52am
Quoting BillyRayValentine
Yup - I went long on GBP at 1.7986 (bottom of last bucket on trend going up) - a little too early again tonight but so far so good.
Steve, could I please grill you on buckets a bit more?

I am not sure which TF you used for that long, but if I foubd what looks like a bucket on H1. Did you enter at the yellow arrow off the bottom of the yellow bucket?

Would Short at green arrow be a valid trade for the 1st (green) bucket? Would you only go short at blue arrow if the price is rejected by the blue bucket's bottom?

MANY THANKS!
Attached Image (click to enlarge)
Click to Enlarge Name: buckets.gif Size: 28 KB
One Chart is Worth Ten Thousand Words.
  • #3,847
  • Sep 29, 2008 10:54am Sep 29, 2008 10:54am
Quoting Robin.Hood
My pleasure! Thanks for excellent thread and good spirits!
RH, are the fix times published somewhere? Thanks a bunch!
One Chart is Worth Ten Thousand Words.
  • #3,848
  • Edited 2:44pm Sep 29, 2008 2:09pm | Edited 2:44pm
Forex007 if you zoom your H1 chart a bit out then what do you see 19th Sep. approx 0800 GMT - 1200 GMT? Does it look like the bottom of a bucket?
BRV said 1.7986, bottom of last bucket, trend going up. Zoom out and you'll find them
forget about tomorrow, just steal away into the night
  • #3,849
  • Sep 29, 2008 3:12pm Sep 29, 2008 3:12pm
Quoting spekitox
Forex007 if you zoom your H1 chart a bit out then what do you see 19th Sep. approx 0800 GMT - 1200 GMT? Does it look like the bottom of a bucket?
BRV said 1.7986, bottom of last bucket, trend going up. Zoom out and you'll find them
I think I know which one you mean, Spekitox. Thanks a lot!
One Chart is Worth Ten Thousand Words.
  • #3,850
  • Sep 29, 2008 4:29pm Sep 29, 2008 4:29pm
I hope we don't turn into a bucket shop! LOL! Great work on hashing the bucket thing though - those are great SR points to be aware of. I'm sure many who read and don't post will be helped a lot by the discussion. Great way to learn.

NOFX
  • #3,851
  • Sep 29, 2008 7:59pm Sep 29, 2008 7:59pm
Quoting Nofx
I hope we don't turn into a bucket shop! LOL! Great work on hashing the bucket thing though - those are great SR points to be aware of. I'm sure many who read and don't post will be helped a lot by the discussion. Great way to learn.

NOFX

Ha ha dude, I was like I wonder if this guy's link is to a cleverly named forex blog who was a fan of nofx . . . and then I realized that in fact that is nofx's website. . . .

Idiots taking over greatest song evar . . . especially in light of todays events
  • #3,852
  • Sep 29, 2008 9:26pm Sep 29, 2008 9:26pm
Quoting lemmingboiv2
Ha ha dude, I was like I wonder if this guy's link is to a cleverly named forex blog who was a fan of nofx . . . and then I realized that in fact that is nofx's website. . . .

Idiots taking over greatest song evar . . . especially in light of todays events

Ya dude! I cleverly linked it to my favorite punk band. LOL. (Wait for the big pyramid plan) Well they are great guys and I been listening to em for 20 yrs. But ya - I had to do it - Nofx. Just too perfect not to.
  • #3,853
  • Sep 29, 2008 11:46pm Sep 29, 2008 11:46pm
I help you, you help me...we both learn...
Took me plenty time to figure out some of BRV's thinking on buckets... too bad we're not paid by the hour for analyzing charts...
Or are we, just not the usual way?

Quoting Forex007
I think I know which one you mean, Spekitox. Thanks a lot!
forget about tomorrow, just steal away into the night
  • #3,854
  • Sep 30, 2008 12:43am Sep 30, 2008 12:43am
BRV,
I tried to enter a buy on GBPJPY at support around 187.25. I got stopped out and it bounced at 186.50. After analyzing my trade for the mistake I realized that in setting my barriers I was looking from left to right while finding the ideal entry level.

I should have done it from right to left (giving more weight to most recent level where PA found support, and then see how it behaved before that around that area) and identify 186.85 as the correct area of support. Am I right in pinpointing my mistake ? Is this the right way to go about setting barriers ?
The quality of your life is brought about by the quality of your thinking.
  • #3,855
  • Sep 30, 2008 2:32am Sep 30, 2008 2:32am
Trying to learn this method. Is this a no brainer trade on USD/JPY for short right now? (I have one short in play and one more set for if price hits the 50% retrace).
Attached Image (click to enlarge)
Click to Enlarge Name: brv.jpg Size: 106 KB
  • #3,856
  • Sep 30, 2008 3:15am Sep 30, 2008 3:15am
Jared,

I have the same setup as you on the usd/jpy,

I am allready short right now, with stop loss a bit above the 50% fibo,

Intersting to hear what the experts here will say about this setup...
  • #3,857
  • Sep 30, 2008 3:20am Sep 30, 2008 3:20am
Quoting Jared
Trying to learn this method. Is this a no brainer trade on USD/JPY for short right now? (I have one short in play and one more set for if price hits the 50% retrace).
Hi Jared,
I am new to this also so I follow posts which might teach me something and only trade demo. Your call looks good for a confluence at 38.2 and a 50 % fib and so far has reacted as you thought. i was looking a little higher at a 4 hr sup from sept 5th around 105.52 but looks as though it will not reach on this occassion. good call. Where do you think it will find support from here?

Rob
  • #3,858
  • Sep 30, 2008 3:24am Sep 30, 2008 3:24am
Quoting Jared
Trying to learn this method. Is this a no brainer trade on USD/JPY for short right now? (I have one short in play and one more set for if price hits the 50% retrace).
looks short to me,...

Sonic
  • #3,859
  • Sep 30, 2008 3:26am Sep 30, 2008 3:26am
Quoting robgsxr
Hi Jared,
I am new to this also so I follow posts which might teach me something and only trade demo. Your call looks good for a confluence at 38.2 and a 50 % fib and so far has reacted as you thought. i was looking a little higher at a 4 hr sup from sept 5th around 105.52 but looks as though it will not reach on this occassion. good call. Where do you think it will find support from here?

Rob

If price remains below the 4 hr support around 105.2 it appears to me that 103.45 could be next major support. would this be a little ambitious maybe in the current climate????
  • #3,860
  • Sep 30, 2008 3:29am Sep 30, 2008 3:29am
Quoting Td3
So would the buy area in this bucket be 104.44 on this chart? (the chart is live)
Hi Td3
Can't open your file. Not sure if the problem might be with the ff web?

Rob
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