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THV system, final edition

  • #6,181
  • Feb 17, 2009 9:00pm Feb 17, 2009 9:00pm
Nice insight Caveman, thanks for the guidance.
  • #6,182
  • Feb 17, 2009 9:06pm Feb 17, 2009 9:06pm
had a short at2590 got triggered
let see how it plays out
  • #6,183
  • Feb 17, 2009 9:14pm Feb 17, 2009 9:14pm
it diddent play out stopped out at be
  • #6,184
  • Feb 17, 2009 9:41pm Feb 17, 2009 9:41pm
S/R on 5m seems to be in a small range
  • #6,185
  • Feb 17, 2009 9:46pm Feb 17, 2009 9:46pm
These 2-3 days are extremely difficult to trade for me.
I usually trade the Tokyo session and I haven't been able to find a single signal since the opening today on 5M (if I strictly follow the entry rules). It's really good that THV is protecting me from bad trades, but ... I'm itching for some action!

I'm relatively new to EUR/USD, so don't know whether these several days are unusual or this happens quite often. Could anyone advise?
  • #6,186
  • Feb 17, 2009 9:47pm Feb 17, 2009 9:47pm
sorry forgot chart
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  • #6,187
  • Feb 17, 2009 9:50pm Feb 17, 2009 9:50pm
Not the usual at all. Good to stay on the sideline for the time being. Trade only when opportunity presents itself. Don't trade just because you are ready to trade.

If you are on the Tokyo session, you may want to have a go at AUD/USD. But the spread is slightly higher depending on your broker. Forgot to add here that you need to be aware of their lunch hours. Both for Japan and Australia. Liquidity is really low during lunch hours. My preference is to avoid those hours.

Cheers,
CaveMan

Quoting Fluegel
These 2-3 days are extremely difficult to trade for me.
I usually trade the Tokyo session and I haven't been able to find a single signal since the opening today on 5M (if I strictly follow the entry rules). It's really good that THV is protecting me from bad trades, but ... I'm itching for some action!

I'm relatively new to EUR/USD, so don't know whether these several days are unusual or this happens quite often. Could anyone advise?
  • #6,188
  • Feb 17, 2009 10:01pm Feb 17, 2009 10:01pm
good S/R on 5m audusd
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  • #6,189
  • Feb 17, 2009 10:07pm Feb 17, 2009 10:07pm
drawing t/l's with HA candles: - on the wick or body? - I tend to draw t/l's with regular candles on body, should I just continue doing that? What might the consensus be?
Pip what you see; See what you pip!
  • #6,190
  • Feb 17, 2009 10:19pm Feb 17, 2009 10:19pm
Quoting SeerEye
drawing t/l's with HA candles: - on the wick or body? - I tend to draw t/l's with regular candles on body, should I just continue doing that? What might the consensus be?
On the wicks is standard.
  • #6,191
  • Feb 17, 2009 10:22pm Feb 17, 2009 10:22pm
Quoting TradeWell
On the wicks is standard.
Pip what you see; See what you pip!
  • #6,192
  • Feb 17, 2009 10:39pm Feb 17, 2009 10:39pm
Quoting caveman
Not the usual at all. Good to stay on the sideline for the time being. Trade only when opportunity presents itself. Don't trade just because you are ready to trade.

If you are on the Tokyo session, you may want to have a go at AUD/USD. But the spread is slightly higher depending on your broker. Forgot to add here that you need to be aware of their lunch hours. Both for Japan and Australia. Liquidity is really low during lunch hours. My preference is to avoid those hours.
Thanks caveman! I'll be more patient...

Anyway I just looked at AUD/USD. The movement looks quite nice... It's a pity my broker's spread for AUD/USD is 4, which is four times that of EUR/USD.
  • #6,193
  • Feb 17, 2009 10:42pm Feb 17, 2009 10:42pm
I admit I have not read all of this thread, but I understand how this method works and IMO it's a great manual scalping strategy.

But because all of the recently posted charts are EUR/USD, I wonder: Is anyone trading this method on other pairs? I have 13 charts open with my personal version of the THV template and I find great opportunities on ALL of these pairs every day. I focus on Divergence setups and strong trends as well as trend breakouts. Anyone else looking beyond EUR/USD?
  • #6,194
  • Feb 17, 2009 11:04pm Feb 17, 2009 11:04pm
Quoting caveman
Not the usual at all. Good to stay on the sideline for the time being. Trade only when opportunity presents itself. Don't trade just because you are ready to trade.

If you are on the Tokyo session, you may want to have a go at AUD/USD. But the spread is slightly higher depending on your broker. Forgot to add here that you need to be aware of their lunch hours. Both for Japan and Australia. Liquidity is really low during lunch hours. My preference is to avoid those hours.

Cheers,
CaveMan
What are the lunch hours(GMT) for Tokyo, Euro and London session? Should we avoid euro and london lunch hours too?
  • #6,195
  • Feb 17, 2009 11:24pm Feb 17, 2009 11:24pm
Break-out on 5m usdcad on S/R
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  • #6,196
  • Feb 17, 2009 11:27pm Feb 17, 2009 11:27pm
5m thv3
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  • #6,197
  • Feb 17, 2009 11:30pm Feb 17, 2009 11:30pm
correction on first it should read usdchf sorry
  • #6,198
  • Feb 17, 2009 11:48pm Feb 17, 2009 11:48pm
Good night all Happy pip's
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  • #6,199
  • Feb 17, 2009 11:55pm Feb 17, 2009 11:55pm
had a sell 2595 out at 80
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  • #6,200
  • Feb 18, 2009 12:44am Feb 18, 2009 12:44am
got a long at 2595 out at 2620
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