I screwed up this trade...didn't manage to get few pips profit before the price spike up because I went for meals. Damn it....otherwise I could save some positive pips....
Hi Palmer,
Thanks for your response to my QUESTION on the VERY LONG CANDLES. Thanks also for the website url you sent to me. I've browsed the site before and still, and will also continue to check it out. It's highly profitable.
Palmer, thanks for being always there for all. You're wonderful.
THANKS.
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GOD, the author of all knowledge and wisdom
LONG CANDLES happen when the BULLS and
BEARS agree on the direction that the price will move
at certain price levels.
Why does this happen?
There is a flood of the same type of orders from both groups at
the same time!! All these orders in the same direction cause
the price to move quickly and far.
Hello everyone, It's like there is an ongoing battle between the Railway Track (hope I'm right it's railway?) and fibo levels 50 and 38.2 (blue rectangle on attached screenshot).I wonder where the price will go. I dislike trading around fibo 38.2 and 50 not when it even has the 89 M.A close to the fibos. Going long may be suicidal. USDJPY on it's own has problem with the 99.00 priceline as resistance. Going short against trend looks promising but also suicidal and going long highly problematic (you may check it out). Maybe it's good to wait as patience is golden. Hope I'm right with my analysis? ----------------------------------------------- GOD, the author of all knowledge and wisdom.
Hi,
Will anyone agree with me that the last two candles on USDCHF look more like a railway track? (Check chart attached).
Going short looks sweet but there is still a support problem at 1.1600 price level. Is anyone going short on this?
------------------------------------------------
GOD, the author of all knowledge and wisdom.
This morning GBP has given the fantastic trade setup that is in accordance to the rules + head&shoulders formation + daily graphs look well!!! we are heading 1,3700. is there anybody else in this trade?
Ignored
huh... i'm closed for 312 pips. i wish there were more such good trade oportunities.
THE QUESTION TO THE THREAD FOLLOWERS:
How many trades a month do you have?
in this period of time i can't find more than 4 trades a month(((
I made a temporary sup TL (in black dash) because I see EU is currently making somekind of move into the end of the triangle.
Fib 100.0% is a troublesome support level right now with the res TL from above also gives no mercy to this pair.
I see a possible breakout soon. Your comments/opinions/suggestions/critics are most welcome. Please feel free to contribute your idea here. We are all learning the tough time now.
Further to oranges comments, thought I would just point out a common setup that Phillip used to use. There have been 4 x Three Sister setups since Feb and they are amazingly reliable - pretty rare that you cant come out with at least a small profit or breakeven if price reverses. Also great for providing early entry when price is coiling up and getting ready to break out.
I made a temporary sup TL (in black dash) because I see EU is currently making somekind of move into the end of the triangle.
Fib 100.0% is a troublesome support level right now with the res TL from above also gives no mercy to this pair.
I see a possible breakout soon. Your comments/opinions/suggestions/critics are most welcome. Please feel free to contribute your idea here. We are all learning the tough time now.
I give it a try for this one. A Counter Trend trade based on 3 OUTSIDE DOWN pattern @ h1.
A possible losing trade here but this should be a good LIVE TRADE EXAMPLE to show all of us here that whether making an entry based on p.a. alone is reliable or not...at least for this "current situation" for EU right now.
Dangerous one...though...and I am willing myself lossing pips in this trade for my own experiment...at least..
p/s-BenStevo, nice info mate... HAVE A LOOK AND MAKE YOUR OWN THOUGHT
I give it a try for this one. A Counter Trend trade based on 3 OUTSIDE DOWN pattern @ h1.
A possible losing trade here but this should be a good LIVE TRADE EXAMPLE to show all of us here that whether making an entry based on p.a. alone is reliable or not...at least for this "current situation" for EU right now.
Dangerous one...though...and I am willing myself lossing pips in this trade for my own experiment...at least..
Ignored
Price @ h1 currently supported 365EMA of h1. Does not look good to me I'm pulling out @ entry. No profit/loss is made.
huh... i'm closed for 312 pips. i wish there were more such good trade oportunities.
THE QUESTION TO THE THREAD FOLLOWERS:
How many trades a month do you have?
in this period of time i can't find more than 4 trades a month(((
Ignored
LAO your complete correct - last month there were a very small number of trades, I only took 6 on & 2 of them were based on 1H entries.
This month i have not taken any, the 3 sisters entry earlier this morning was a potential however the way the market has been moving lately I decided to give this one a miss.
DON'T BE SUCKED INTO PRICE ACTION, FEEL YOU HAVE TO TRADE. SAVE YOUR AMMO FOR WHEN THE MARKET SHOWS US ITS DIRECTION.
I found big problem when I watched 4h candle on different brokers becasue they use different time zone. for example, FXDD uses GMT+3 and Odl uses GMT. so for today's 4h candle charts of EU. If we compare FXDD and ODL, we could see ODL chart gave a clear hint for the market motion at the last candle (marked with one up arrow). the price goes through SMA89, retest EMA8, and goes to SMA200. but on FXDD's GMT+3 chart, it is hard to get this idea.
I attached FXDD on the first and ODL below.
how can we deal with this situation? Possible use both?
It's definetely hard times for the 4 hour macd system. I don't have enough nerves to trade in such an aggressive way as orangeRANGE does.
But i sincerely believe in the upcoming EURO uptrend that will bring pips to us. my long is from 2530 targeting at least 1.3000(trade doesn't relate to this system!!!)
I found big problem when I watched 4h candle on different brokers becasue they use different time zone. for example, FXDD uses GMT+3 and Odl uses GMT. so for today's 4h candle charts of EU. If we compare FXDD and ODL, we could see ODL chart gave a clear hint for the market motion at the last candle (marked with one up arrow). the price goes through SMA89, retest EMA8, and goes to SMA200. but on FXDD's GMT+3 chart, it is hard to get this idea.
I attached FXDD on the first and ODL below.
how can we deal with this situation? Possible...
Ignored
Yisa...
Your problem is quite simple. I also have 2 mt4 brokers, ibfx (offset @ GMT+0) and FxPro (offset GMT+2).
As in my case, I only use one of them (ibfx) since the h4 candle closed @ 00:00, 04:00, 08:00,...,24:00 at my local time, which is suitable for my daily schedule.
If I use FxPro chart, then the h4 candle closed @ 02:00, 06:00,...,22:00 at my local time. Not really suits my bedtime. So I don't do analysis using this one.
It's definetely hard times for the 4 hour macd system. I don't have enough nerves to trade in such an aggressive way as orangeRANGE does.
But i sincerely believe in the upcoming EURO uptrend that will bring pips to us. my long is from 2530 targeting at least 1.3000(trade doesn't relate to this system!!!)
Ignored
LAO...
Here are my explainations regarding the SHORT entry that I made earlier. As I mentioned in the said post, the entry was solely based on price action (candle stick pattern).
As you can see in my h1 chart below, 8/21 from h1 and h4 are both in agreement (8 greater than 21). Obviously a strong move upside. So, favouring SHORT entry at this situation would be insane per the rules of this thread.
Even though the p.a. is a convincing one, making a CT trade does not seems to be profitable and therefore I pulled out my trade @ entry.
This should be a valuable lesson to all of us here. NEVER BREAK THE BASIC RULES. I have done that before and terriblely loss.
Hope this helps the newbies as well.
p/s-please note that my SHORT entry just now is represented by the aqua vertical line in the chart below
I found big problem when I watched 4h candle on different brokers becasue they use different time zone. for example, FXDD uses GMT+3 and Odl uses GMT. so for today's 4h candle charts of EU. If we compare FXDD and ODL, we could see ODL chart gave a clear hint for the market motion at the last candle (marked with one up arrow). the price goes through SMA89, retest EMA8, and goes to SMA200. but on FXDD's GMT+3 chart, it is hard to get this idea.
I attached FXDD on the first and ODL below.
how can we deal with this situation? Possible...
Ignored
Read through the thread. This was addressed somewhere in the first 100 pages. It's fine. You'll have signals when others don't and vice versa. The 4HR system isn't predicated on candles closing at specific offsets from GMT.
