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  • #44,321
  • Nov 9, 2008 8:35pm Nov 9, 2008 8:35pm
Quoting cobraforex
Hi THV
My new setup that I will release this week is now almost the same as yours, when you see the entry point fix exactly yours.
Excellent! Yes, That chart is almost a carbon copy of mine. Good work...
  • #44,322
  • Nov 9, 2008 8:36pm Nov 9, 2008 8:36pm
Quoting Turhovach
http://screencast.com/t/VsARjPrxV
What indicators you running on the 25 tick ?
  • #44,323
  • Nov 9, 2008 8:39pm Nov 9, 2008 8:39pm
Done with that trade. Hitting R2 here --


http://screencast.com/t/poIk4LN8Qq
  • #44,324
  • Nov 9, 2008 8:42pm Nov 9, 2008 8:42pm
Quoting kujo17
What indicators you running on the 25 tick ?
Kujo -- see Cobraforex's web site. He's got all the details posted there.
  • #44,325
  • Nov 9, 2008 9:05pm Nov 9, 2008 9:05pm
Quoting TIckerShuffl
Im long over night, missed 100 pips off gap, there has to be more in this run on china news.
i cosidered taking a ong tp 1.2832 just having trouble with my sl. it would have to be around 1.2735ish.im too late for the party this time.
those who can, do. those who cant, talk about those who can
  • #44,326
  • Nov 9, 2008 10:00pm Nov 9, 2008 10:00pm

Hello everybody,,, happy trading.
Just put my entry buy on EU this morning. 1.2813...(yawn)

Any strategy?

Learning, is a never ending processs...
  • #44,327
  • Nov 9, 2008 10:00pm Nov 9, 2008 10:00pm
I thought awhile ago this would start a reversal and begin moving down. No Bollinger Band pinch then. It popped back up. But now we have the pinch. And the 262% fib extension applied to it says this should have no problem filling the gap.

But, as always, we just have to mind the charts.....
Attached Image (click to enlarge)
Click to Enlarge Name: ed 15 minute #2 11-09-2008.gif Size: 39 KB
  • #44,328
  • Nov 9, 2008 10:10pm Nov 9, 2008 10:10pm
Quoting traderathome
I thought awhile ago this would start a reversal and begin moving down. No Bollinger Band pinch then. It popped back up. But now we have the pinch. And the 262% fib extension applied to it says this should have no problem filling the gap.

But, as always, we just have to mind the charts.....
i considered going long my stop loss was just one pip below that last down move.. i have said for 2 weeks i expect i lower move. but this thing just hovers..glag i didnt go long
those who can, do. those who cant, talk about those who can
  • #44,329
  • Nov 9, 2008 10:22pm Nov 9, 2008 10:22pm
it seems to me that indicators are depended on so much that the very basics...common candlestick support/resistance/patterns is overlooked many times. this is not meant to insult anyone...it's mere intention is to remind all of you great traders that the basics do matter...and for those of you who are new...maybe something youve seen but not understood.

Technical analysis. for over 5 hours now one could make the argument eur/usd has been range bound between 1.2845 and 1.2895..just simply looking at the highs and the lows for that range. But under closer inspection...there has been one pivotal point during this whole trend and that is 1.2860. That point alone and where pa has been according to it suggests bear or bull bias at least to me....why?...because it is the only point during this whole trend where its acted as both support and resistance. So its only natural on this trend down to put a sell on the retest of that point to prove its resistance...with a stop loss above the current high (only 40pips) just in case it is not so. simple logic yet very profitable if little observations like this are taken well into consideration and applied accordingly.

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 33 KB


Edit:btw...note that the low of the range...1.2845 or so is now being tested to see if its resistance...if not..right back to 1.2860 and if that doesnt hold....right back to the high....forex is done in stages...only in volatile times stages are skipped...this time around...not much volatility
Different opinions highly valued, ignorant to slander.
  • #44,330
  • Nov 9, 2008 10:26pm Nov 9, 2008 10:26pm
buy valleys sell peaks *L*
those who can, do. those who cant, talk about those who can
  • #44,331
  • Nov 9, 2008 10:30pm Nov 9, 2008 10:30pm
since the yen finally got off it's duff with the gy breaking below it's 15m 50ema, it looks like a bit of a direction is emerging.

shorted again at 2888 eu and that's looking somewhat better. i have 6m 20m and 30m charts sync'ed for the down, and the 1 and 2 hr charts are part way thru confirming the turn down as well, so i'll stay with that until or unless something changes. scaled out the first cut and set a +3 sl with a tp back down at the central pivot (2805ish) for starters.

Waiting for NY before I buy another ticket for this rerun...
FUBAR...
  • #44,332
  • Nov 9, 2008 10:41pm Nov 9, 2008 10:41pm
Looking for another setup here --

http://screencast.com/t/q0mN5QMm8Zw
  • #44,333
  • Nov 9, 2008 10:49pm Nov 9, 2008 10:49pm
Quoting psiholog
it seems to me that indicators are depended on so much that the very basics...common candlestick support/resistance/patterns is overlooked many times. this is not meant to insult anyone...it's mere intention is to remind all of you great traders that the basics do matter...and for those of you who are new...maybe something youve seen but not understood.

Technical analysis. for over 5 hours now one could make the argument eur/usd has been range bound between 1.2845 and 1.2895..just simply looking at the highs and the lows for that range. But under closer inspection...there has been one pivotal point during this whole trend and that is 1.2860. That point alone and where pa has been according...
Psiholog, there is a fib level at 1.2846 (Fib R2 on the chart) that also maps the highs of the previous session. That is close to your 1.2860, but maybe shorting between 1.2846 and 1.2850 if it breaks below 1.2846 first and then pulls back briefly?

Edit: Sorry, that is just what it did.....BEFORE this post. To bad I did not read your post sooner and answer sooner, huh? Oh well.
Attached Image (click to enlarge)
Click to Enlarge Name: ed 15 minute #3 11-09-2008.gif Size: 42 KB
  • #44,334
  • Nov 9, 2008 11:01pm Nov 9, 2008 11:01pm
Great example of the 5m 133ema (aqua) holding price, waiting for that to break...

This is one of the GY indi's I'm bringing over to the mt4 eu charts.

ADD: Well it broke a moment after I posted the pic. Cool.
Attached Image
FUBAR...
  • #44,335
  • Nov 9, 2008 11:03pm Nov 9, 2008 11:03pm
Quoting ak4x
Great example of the 5m 133ema (aqua) holding price, waiting for that to break...

This is one of the GY indi's I'm bringing over to the mt4 eu charts.

ADD: Well it broke a moment after I posted the pic. Cool.
Ak4x, would you be kind enough to share with me how you set up your EMA , SMA's, how you use them and why you find those parameters to be useful?
  • #44,336
  • Nov 9, 2008 11:13pm Nov 9, 2008 11:13pm
Quoting Kyen
Ak4x, would you be kind enough to share with me
well, you set them up just how i listed them, from the Close. You use them like any other S/R tool, they either hold or break, whichever it does is a clue for what happens next.

Why I use them is they have a consistent record of price repsecting them most occasions, some more so than others, and across different TF's. I also use a 50ema on the 15m and 30m. Best thing is to slap some on a chart you feel comfortable with already, and watch them. You like them, use them, you don't, pitch them.

I should also add these are not my primary trading tools so I only study them if not focused on my usual charts. I use a non mt4 setup and am comparing some of these ma's with what I already know best to see what I can see... as I'm curious about many things.

Also i should add I like to have backup system for when accucharts goes down... like a couple minutes ago...
FUBAR...
  • #44,337
  • Nov 9, 2008 11:18pm Nov 9, 2008 11:18pm
Quoting ak4x
well, you set them up just how i listed them, from the Close. You use them like any other S/R tool, they either hold or break, whichever it does is a clue for what happens next.

Why I use them is they have a consistent record of price repsecting them most occasions, some more so than others, and across different TF's. I also use a 50ema on the 15m and 30m. Best thing is to slap some on a chart you feel comfortable with already, and watch them. You like them, use them, you don't, pitch them.

I should also add these are not my primary trading tools so I only study them if not focused on my usual charts. I use a non mt4 setup and am comparing some of these ma's with what I already know best...
I see- thanks for the explanation. I'm quite curious as to the setups people use - in my own experience, I've found that things which are overcomplicated can be simplified - and hence my favorite phrase KISS(Keep it simple stupid). I used to tag on indicators over indicators whereas nowadays, i draw my own trendlines, use ADXDMI as a reference tool for trend formations, and trade based on support/resistance breakouts.
  • #44,338
  • Nov 9, 2008 11:27pm Nov 9, 2008 11:27pm
Quoting ak4x
Great example of the 5m 133ema (aqua) holding price, waiting for that to break...

This is one of the GY indi's I'm bringing over to the mt4 eu charts.

ADD: Well it broke a moment after I posted the pic. Cool.
ak4x, the number 144 is a fibonacci sequence number (1,3,5,8,13,21,34,55,89,144...). Try the 144ema in place of the 133ema. I did.
  • #44,339
  • Nov 9, 2008 11:46pm Nov 9, 2008 11:46pm
Quoting traderathome
ak4x, Try the 144ema in place of the 133ema. I did.
i have that one and some others on some charts I don't usually post. I'm using a 288sma across various TF's however that I have fondly dubbed the Bemac288. When it converges with a few of the shorter MA's like right now on the 30m, I'm watching that closely as it doesn't happen often.

In any event I'm +60 pips and looking for mo down... Got the bemac288 converging with the 34sma at 2775 on the 1hr, so that will be fun to watch as well. Couple of days of ranging tends to screw all that up tho...
FUBAR...
  • #44,340
  • Nov 10, 2008 12:40am Nov 10, 2008 12:40am
Just shorted @ 2840... looking for TP 2800.
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