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

  • #1,281
  • Dec 18, 2008 6:04pm Dec 18, 2008 6:04pm
Gold retrace almost confirm, but may retest TL resistances before go down.
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  • #1,282
  • Dec 18, 2008 6:08pm Dec 18, 2008 6:08pm
Look for fibo 61.8% (4h TL) or 78.6% (Daily TL) to enter.
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  • #1,283
  • Dec 18, 2008 6:38pm Dec 18, 2008 6:38pm
Quoting Blackeagle
A couple of things I'd like to point out re. EURUSD weekly chart:

1- I have Steve Nison's book in front of me and also checked sevreal websites and all insist Morning Star is a three-candle pattern. The one EURUSD weekly chart is a modified MS with a total of 8 candles, so I am not sure if it can be accepted as MS.

2- If you take the trade at 1.3440 based on weekly chart, what would be the stoploss? Below 1.23 according to system rules or below 61.8 line?

Regards,
1. The concept is commonly known as blending candlesticks. Information is freely on the web.

2. I believe the SL should be below 1.23 levels as per the trading rules.
  • #1,284
  • Dec 18, 2008 6:45pm Dec 18, 2008 6:45pm
For those who did not let your trade run earlier last week, this is another possible opportunity to get in on the move down.
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  • #1,285
  • Dec 18, 2008 6:45pm Dec 18, 2008 6:45pm
Quote
1- I have Steve Nison's book in front of me and also checked sevreal websites and all insist Morning Star is a three-candle pattern. The one EURUSD weekly chart is a modified MS with a total of 8 candles, so I am not sure if it can be accepted as MS.

I have steve nison also, i will scan a page and post here where we have Tweezer bottom and several indecision candles that makes up the candle formation.
  • #1,286
  • Dec 18, 2008 6:47pm Dec 18, 2008 6:47pm
Quoting soyabean
1. The concept is commonly known as blending candlesticks. Information is freely on the web.
Thanks for the info, appreciate it.
  • #1,287
  • Dec 18, 2008 8:10pm Dec 18, 2008 8:10pm
Quoting Naijafx
1. For the AUD/CHF 4 hrs trade, how did you know to go LONG or SHORT on both those trades when I do not see any valid candle formations?


Cool, that candle formation is known as Evening star(ES), we have a bullish candle, then three indecision candles and we got a bearish candle that penetrated deeply into the bullish candle, this showed a strong invasion of the sellers.


2. EUR/USD Monthly - what candle formation was used to place the trade?


U mean the weekly? look at the candle formation again, u could see the strong bearish...
Hi Mike:

I hope that you did not take my questions in any negative way. I am really just trying to grasp this system.

Your explanations are fantastic. I will be printing them out to study further.

Thanks for responding and your patience.
  • #1,288
  • Dec 18, 2008 10:37pm Dec 18, 2008 10:37pm
Hi all,

Great to see you all collecting pips this week. The market is very generous these last weeks of the year.

My notebook still on service, and looks like taking a longer time. Maybe sometime we need to rest awhile from the busy world of forex. I hope that you all doing great!

Happy pipping all..
  • #1,289
  • Dec 19, 2008 3:58am Dec 19, 2008 3:58am
Just took this trade for 192 pips closed at 1:1.5. Entry was at the bullish engulfing candle.

Another position taken today was USDJPY.

Have a good christmas tanya, I am sure the USDCHF trade alone this week was enough to keep you off the charts for a few weeks.
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  • #1,290
  • Edited 6:14am Dec 19, 2008 6:12am | Edited 6:14am
I will be watching this ausd 4hr

Nice trades soya, maybe i am the reason why UJ is stalling, anyway, I have closed partial long position at 60pips.

U guyz are amazing!

there is fib confluence of 61.8/50.0................. just wanted to add that as i dont trade 50% without another fib confluence
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  • #1,291
  • Dec 19, 2008 7:07am Dec 19, 2008 7:07am
Quoting Naijafx
I will be watching this ausd 4hr

Nice trades soya, maybe i am the reason why UJ is stalling, anyway, I have closed partial long position at 60pips.

U guyz are amazing!

there is fib confluence of 61.8/50.0................. just wanted to add that as i dont trade 50% without another fib confluence
THanks alot mike, and thats a great setup which I am lookin out for too! And this on AUDNZD.
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  • #1,292
  • Dec 19, 2008 7:23am Dec 19, 2008 7:23am
Soya, that's nice one too..........

switch between resistance and supply trade, most especially along the trend is 90% success.

how I wish i trade this guy, anyway, i trade few pairs so that i can trade abcd method optimally.

Good call soya

I told u, u must be pips drunk......... santa claus FX have been so nice rolling out pips.
  • #1,293
  • Dec 19, 2008 9:14am Dec 19, 2008 9:14am
Quoting soyabean
Just took this trade for 192 pips closed at 1:1.5. Entry was at the bullish engulfing candle.

Another position taken today was USDJPY.

Have a good christmas tanya, I am sure the USDCHF trade alone this week was enough to keep you off the charts for a few weeks.
Hey Soya:

Great charts and explanations.

I also entered the USD/JPY trade earlier today. It let's me know that I am getting on the right track.

My broker does not offer the EUR/CAD pair so I could not compare your chart with anything that I have. I still learn from studying yours though.

Keep riding the pip express.
  • #1,294
  • Dec 19, 2008 9:25am Dec 19, 2008 9:25am
Quoting Naijafx
I will be watching this ausd 4hr

Nice trades soya, maybe i am the reason why UJ is stalling, anyway, I have closed partial long position at 60pips.

U guyz are amazing!

there is fib confluence of 61.8/50.0................. just wanted to add that as i dont trade 50% without another fib confluence
Hi Mike:

Nice looking chart.

Thanks for the explanations.

What does ls and the h represent?

I assume that RS is for resistance/support, is that correct?

Thanks for the help.
  • #1,295
  • Dec 19, 2008 12:26pm Dec 19, 2008 12:26pm
Enjoy the weekend all..................HAPPY HOLIDAYS.
  • #1,296
  • Dec 20, 2008 4:13pm Dec 20, 2008 4:13pm
Hey All,
I have been following this tread for a few months and have developed the confidence to join. Do hope I can make a meaningfull contribution.Wish me luck
  • #1,297
  • Dec 21, 2008 7:54am Dec 21, 2008 7:54am
Quoting culture
Hey All,
I have been following this tread for a few months and have developed the confidence to join. Do hope I can make a meaningfull contribution.Wish me luck
Hi Culture:

Welcome aboard the pips express.

It is a great system to learn. Just remember to exercise patience.

Looking forward to your contribution and success.

FXG
  • #1,298
  • Dec 21, 2008 11:47am Dec 21, 2008 11:47am
Quote
Hi Mike:

Nice looking chart.

Thanks for the explanations.

What does ls and the h represent?

I assume that RS is for resistance/support, is that correct?

Thanks for the help.

that ausd showed me a potential reversal/large pull back since 5weeks ago and i have been in long trade.

if u look at my chart u will see crown formation(reliable rversal formation), a smaller one embedded in a bigger one.

rs-right shoulder
ls-left shoulder
h-head

we might get to 76?? in ausd, this confluence with 78.6 of the bear move, which will make a completion of bearish gartley.

ausd, is a good trade if we have nice CF.

Hope my explanation answers ur question?
  • #1,299
  • Dec 22, 2008 6:34am Dec 22, 2008 6:34am
Quoting Naijafx
that ausd showed me a potential reversal/large pull back since 5weeks ago and i have been in long trade.

if u look at my chart u will see crown formation(reliable rversal formation), a smaller one embedded in a bigger one.

rs-right shoulder
ls-left shoulder
h-head

we might get to 76?? in ausd, this confluence with 78.6 of the bear move, which will make a completion of bearish gartley.

ausd, is a good trade if we have nice CF.

Hope my explanation answers ur question?
Hi Mike:

You must have been laughing when you saw my R/S = Resistance/Support. I started laughing once I read your explanation.

Thanks for your very clear explanation.

Looking back at the chart with the explanation that you gave, it all makes sense now.

Talk about having patience, 5 weeks of tracking this price, that is amazing to me. If you, Soya and Dra ever figure out how to bottle patience, I will be your first customer.

Great job Mike.
  • #1,300
  • Dec 22, 2008 11:36am Dec 22, 2008 11:36am
Quote
Talk about having patience, 5 weeks of tracking this price, that is amazing to me. If you, Soya and Dra ever figure out how to bottle patience, I will be your first customer.

patience, we are all students in that school, our degree of patience might differ. am also learning it a great deal and this december will be a major turn around for my trading career.

why?

I havent been trading much but watching how the market evolves and respect our trading methodology.


i stay close to the system watching/writing observation and going to past data to compare note. am using UJ long that am in, as a case study, in the past, i would have closed it, but i decided to stick it out, taking note of various support/resistance and trenlines.


Honestly, this trading methodology requires planning far ahead before taking trade, u create two trading plan for possible two scenario, u picture the future base on the present price action.


take your time and look at damion's posts, u see some element of envisioning.......... we must be proactive and we should be fearless(hahaha, am also a victim.....) but gradually, we will get better and better


Have a trading plan, presently, am revisiting mine, stick to it, and u will be amase at the rate of your growth.

i will bear my thoughts in trading this method and u will be astounded that this method can keep u busy all day with high probability trade.

Remain blessed
Mike
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