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A,B,C,D - 1,2,3,4 System

  • #861
  • Nov 7, 2008 4:15pm Nov 7, 2008 4:15pm
Quoting shandy
Another trade where I moved SL to BE at +50 and just got stopped out. Hmm, to move SL at +50 or not to move, that is the question.....
Better to have protective stop on trade and get knocked out than to just get"knocked out". I only started to make money after I learned how to NOT lose it. And that took 3 long years!
FF = Forex Faggots
  • #862
  • Nov 7, 2008 4:34pm Nov 7, 2008 4:34pm
Good to see you all doing well.
Have a great weekend and give the charts a break until Sunday.
  • #863
  • Nov 9, 2008 10:06pm Nov 9, 2008 10:06pm
Thanks Dra!

Below is a setup taken off AUDJPY, just closed for 1:1 and letting it run.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 21 KB
  • #864
  • Nov 10, 2008 2:08am Nov 10, 2008 2:08am
Just entered short off the EB at the trendline (entry a bit late but got better price in the end), plus confluence of 61.8 and 38.2 fibs. This time I'm leaving my SL where it is till either I'm stopped, or TP at 1:1.5.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad4hr.gif Size: 16 KB
  • #865
  • Nov 10, 2008 3:53am Nov 10, 2008 3:53am
Quoting shandy
Just entered short off the EB at the trendline (entry a bit late but got better price in the end), plus confluence of 61.8 and 38.2 fibs. This time I'm leaving my SL where it is till either I'm stopped, or TP at 1:1.5.
Hey shandy, I think that inner trendline which you used for entry may not be valid since price has not made a lower low. And this pair is going through a symmetrical triangle consolidation pattern on the 4h chart, and seems to be heading towards exhaustion. Anycase, I feel it does not give a clear direction to take the trade, risky imo.

Oh, and confluence of fibs must have a common high/low. Otherwise you can get confluence of fibs everywhere on the chart by pulling from every wave!
  • #866
  • Nov 10, 2008 4:10am Nov 10, 2008 4:10am
Quoting soyabean
Hey shandy, I think that inner trendline which you used for entry may not be valid since price has not made a lower low. And this pair is going through a symmetrical triangle consolidation pattern on the 4h chart, and seems to be heading towards exhaustion. Anycase, I feel it does not give a clear direction to take the trade, risky imo.

Oh, and confluence of fibs must have a common high/low. Otherwise you can get confluence of fibs everywhere on the chart by pulling from every wave!
Hi Soyabean, don't know why you say the tl isn't valid, it made a new low on 4/11 (previous low of 31/10)?
  • #867
  • Nov 10, 2008 5:29am Nov 10, 2008 5:29am
Quoting shandy
Hi Soyabean, don't know why you say the tl isn't valid, it made a new low on 4/11 (previous low of 31/10)?
Hey Shandy, perhaps you can take a look at my chart posted below. That should explain why that TL is not valid. Will be glad to explain if you have further doubts.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 21 KB
  • #868
  • Nov 10, 2008 5:43am Nov 10, 2008 5:43am
Quoting soyabean
Hey Shandy, perhaps you can take a look at my chart posted below. That should explain why that TL is not valid. Will be glad to explain if you have further doubts.
Yes I see what you're saying. I'd taken the new low from previous low of 31/10 - why would you not have considered this?

Just got stopped anyway, doh! If I'd moved my SL to BE at +50 I'd not have just lost 80 odd pips ...but that's the way it goes!!
  • #869
  • Nov 10, 2008 6:26am Nov 10, 2008 6:26am
Hi Soya,

can you tell me how to draw the lower dotted line?you drew 2 dotted line, the upper one is not a valid downtrend TL, but so is the lower one. Then, how do you identify the pattern as symmetrical triangle?or did we just draw a line connecting high to high and low to low?

sorry for my english..hope you understand what i mean..

Happy pipping..
  • #870
  • Nov 10, 2008 6:35am Nov 10, 2008 6:35am
Hi all,

Possible setup is maybe forming now on NZDUSD 1H. It's looked like the price has broken the downtrend line, but on the 4H,where the trendline is actually drawn, the candle hasnt broken the trendline yet. The last candle is not completed yet, but maybe it will form evening star. The price also retrace at 78.6 fibo.

Please comment this..

Happy pipping..
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd_h1.gif Size: 14 KB
  • #871
  • Edited 8:42am Nov 10, 2008 8:22am | Edited 8:42am
Quoting tanyasiapa
Hi all,

Possible setup is maybe forming now on NZDUSD 1H. It's looked like the price has broken the downtrend line, but on the 4H,where the trendline is actually drawn, the candle hasnt broken the trendline yet. The last candle is not completed yet, but maybe it will form evening star. The price also retrace at 78.6 fibo.

Please comment this..

Happy pipping..
Adjust your trendlines. You cannot draw through the candles.
  • #872
  • Nov 10, 2008 10:13am Nov 10, 2008 10:13am
Quoting shandy
Yes I see what you're saying. I'd taken the new low from previous low of 31/10 - why would you not have considered this?

Just got stopped anyway, doh! If I'd moved my SL to BE at +50 I'd not have just lost 80 odd pips ...but that's the way it goes!!
Hey. that trendline was broken, see chart below. cheers
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 19 KB
  • #873
  • Nov 10, 2008 10:18am Nov 10, 2008 10:18am
Quoting tanyasiapa
Hi Soya,

can you tell me how to draw the lower dotted line?you drew 2 dotted line, the upper one is not a valid downtrend TL, but so is the lower one. Then, how do you identify the pattern as symmetrical triangle?or did we just draw a line connecting high to high and low to low?

sorry for my english..hope you understand what i mean..

Happy pipping..
Hi, the dotted lines are not the same as the trendlines in dra's system. Just connect all the highs and lows, for lines of wedges, pennants and triangles. It is not part of the system, purely for me to identify direction and consolidation periods.

Attached below is my entry on nzdusd. Wish me luck! There were many entires on the 1H chart an hour ago, each going for over 50 to 100 pips! Missed those, happy pipping guys!
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 21 KB
  • #874
  • Nov 10, 2008 10:26am Nov 10, 2008 10:26am
Quoting soyabean
Hey. that trendline was broken, see chart below. cheers
Ok I'm finally getting where you are coming from - cheers Soya!!
  • #875
  • Nov 10, 2008 12:02pm Nov 10, 2008 12:02pm
Hey people, posted below areother entries I noticed. Market is roaring! All yen pairs.

No prob shandy, glad I could help.

Non yen pair entries I have taken are GC and NU. Good pipping.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 16 KB
Click to Enlarge Name: nzdjpy.gif Size: 16 KB
Click to Enlarge Name: chfjpy.gif Size: 17 KB
Click to Enlarge Name: audjpy.gif Size: 16 KB
  • #876
  • Nov 10, 2008 6:04pm Nov 10, 2008 6:04pm
Hi Dra,

The trendline in my chart was drawn previously. Connecting high and lower low on 14/10 and 20/10. But the price recently is dancing around the trendline. It cant break it, but still cant retracing from it too.. When finally it retracing a large bearish candle Dra..

Anyway, why did almost all pair make a huge candle at 13 GMT?was there a big news?

I missed many setups because i was sleeping..dooh..

Happy pipping..
  • #877
  • Nov 10, 2008 10:11pm Nov 10, 2008 10:11pm
Let's wait for other setups =) The market is always moving!
  • #878
  • Nov 11, 2008 1:22am Nov 11, 2008 1:22am
Hi Soya,

Yeah..patience is the key..i'd better wait with no trade for several days than to enter the market forcefully and get loss..been there..

As of today, i havent seen any good setup coming in..

Happy pipping..
  • #879
  • Nov 11, 2008 5:02pm Nov 11, 2008 5:02pm
The charts gave a number of entries on Monday, which are going pretty well. I will be holding my trades throughout the week because theres room for most of the pairs to continue the current trend.
Posted below is an entry taken on chfjpy.
Attached Image (click to enlarge)
Click to Enlarge Name: cj.gif Size: 16 KB
  • #880
  • Nov 11, 2008 6:01pm Nov 11, 2008 6:01pm
Hi Dra,

I've missed many setup on monday, so i dont have any trade so far.. But this morning, when i see EURCHF 1H, the price retracing back to downtrend line and making a formation that we maybe can say it as evening star? i'll make entry on my demo,since i dont believe it's a correcf CF...

please comment..

Happy pipping..
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf_h1.gif Size: 14 KB
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