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The System II (Yes with irony)

  • #1,021
  • Mar 11, 2009 5:17am Mar 11, 2009 5:17am
Hi! Feb everythings looks so easy on your pictures then im lost when im start too look at a chart in real time one of my beggest problem is to see a trend before it has change do you have a little trick the higher high and higher lows are for little bigger trends maybe but how do you spot a miner trend to be able to trade correction from ?


best regards
  • #1,022
  • Mar 11, 2009 6:59am Mar 11, 2009 6:59am
[quote=fxachilies;2594613]Hi Feb,
I hope your doing great, Thank you so much for all your help and generosity.
I have couple of a questions if you don't mind.
when we have a clear swing and a pullback (shallow) then its easy to see it and trade on break of H/H. but when pullback goes into price stall, forms couple of V shapes, looks like a chop then we set up levels (correct me if i am wrong).
My question is do you trade of off the break of either side or only towards the intial swing? If you do trade the opposite side what do you based on since we did not have a reall clear swing?
Thx.[/quote

I need to see a clear swing. If you see some smaller V-Shapes after a swing, then I will wait for the original levels (formed from the original swing) to trade. I'll trade the other side of the swing if the first one fails, which normally forms a second swing.
Peace
  • #1,023
  • Mar 11, 2009 7:07am Mar 11, 2009 7:07am
Quoting jgadefelth
Hi! Feb everythings looks so easy on your pictures then im lost when im start too look at a chart in real time one of my beggest problem is to see a trend before it has change do you have a little trick the higher high and higher lows are for little bigger trends maybe but how do you spot a miner trend to be able to trade correction from ?


best regards
Read post #996 and then go back and read form post #917 onwards. Take your time and please make sure you understand the reasons for the change.

Take your time, don't; rush it up.
Peace
  • #1,024
  • Mar 11, 2009 9:49am Mar 11, 2009 9:49am
[quote=feb2865;2595239]
Quoting fxachilies
Hi Feb,
I hope your doing great, Thank you so much for all your help and generosity.
I have couple of a questions if you don't mind.
when we have a clear swing and a pullback (shallow) then its easy to see it and trade on break of H/H. but when pullback goes into price stall, forms couple of V shapes, looks like a chop then we set up levels (correct me if i am wrong).
My question is do you trade of off the break of either side or only towards the intial swing? If you do trade the opposite side what do you based on since...
Hi Feb,
Thank you for the explanation, if you dont mind would be kind to show me example from the chart on this. I apperciated greatly.
Thx.
  • #1,025
  • Mar 11, 2009 10:20am Mar 11, 2009 10:20am
http://www.forexfactory.com/images/attach/gif.gif
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  • #1,026
  • Mar 11, 2009 10:31am Mar 11, 2009 10:31am
Hi Feb,
this is a example of u/c that i was wondering how would you play it out.
thanks.http://www.forexfactory.com/images/attach/gif.gif
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  • #1,027
  • Mar 11, 2009 10:36am Mar 11, 2009 10:36am
Quoting fxachilies
Hi Feb,
this is a example of u/c that i was wondering how would you play it out.
thanks.http://www.forexfactory.com/images/attach/gif.gif

The first breakout.

Please see post #996.
Peace
  • #1,028
  • Mar 11, 2009 11:03am Mar 11, 2009 11:03am
Quoting feb2865
The first breakout.

Please see post #996.
Thank you.
  • #1,029
  • Mar 11, 2009 11:11am Mar 11, 2009 11:11am
FEB,

When I see a test of a S&R level I get interested, but usually will wait for the second test of that level to see if a rejection will occur, or if penetration of the level happens. This @ times seems to be a doubled edge sword as I will miss some nice moves, but @ times it has kept me on the right side of a move. An example has just occured on the E/$ 5M chart where the 1.2596 level had been tested as resistance four times & now PRICE is moving down from those rejections. I have taken two short trades from the rejections each time & both gained pips. I know what is working for me, but I would greatly appreciate your valued views on this.

Just trying to learn.
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  • #1,030
  • Mar 11, 2009 11:24am Mar 11, 2009 11:24am
feb its about support and resistance and false breakout from congestions , but what about trend ?


best regards
  • #1,031
  • Mar 11, 2009 11:41am Mar 11, 2009 11:41am
Quoting acetrader
FEB,

When I see a test of a S&R level I get interested, but usually will wait for the second test of that level to see if a rejection will occur, or if penetration of the level happens....
I think your point is valid. Levels are not there to be hold forever. The market will either bounce off or break out. You job is to be on the right side of the trade.
Peace
  • #1,032
  • Mar 11, 2009 11:45am Mar 11, 2009 11:45am
Quoting jgadefelth
feb its about support and resistance and false breakout from congestions , but what about trend ?


best regards
I don't follow the trend on small time frames like 5 minutes. I play the levels.
In my opinion, for a trend to be valid, data /tick/# of trades should be accumulated long enough for the rest of the market to validate the trend (if it gets validated at all). You might see that on higher time frames. Here on 5 minutes, your trading in the middle of the storm.
Peace
  • #1,033
  • Mar 11, 2009 11:53am Mar 11, 2009 11:53am
But how would is see a nice small trend to play pullbacks that is the core of this thread ?

best regards
  • #1,034
  • Mar 11, 2009 11:53am Mar 11, 2009 11:53am
Currently watching support.
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Peace
  • #1,035
  • Mar 11, 2009 11:56am Mar 11, 2009 11:56am
Quoting jgadefelth
But how would is see a nice small trend to play pullbacks that is the core of this thread ?

best regards
Read post #996.
Peace
  • #1,036
  • Mar 11, 2009 12:02pm Mar 11, 2009 12:02pm
ok you move from the orginal post and try to teach more on how to read makets, well that is hard for me it is werry logical and fine when you show a picture here but when i then sit and watch my self i dont see those things

and i think i go smash my head in the wall or something


best regards
  • #1,037
  • Mar 11, 2009 12:06pm Mar 11, 2009 12:06pm
Quoting jgadefelth
ok you move from the orginal post and try to teach more on how to read makets, well that is hard for me it is werry logical and fine when you show a picture here but when i then sit and watch my self i dont see those things

and i think i go smash my head in the wall or something


best regards
hahahaha!! ok buddy I get it!!! give me some time, we'll walk together on this. My dog is driving me nuts here. LOL.

Let me take care of this "guy" first.

BRB.
Peace
  • #1,038
  • Mar 11, 2009 12:16pm Mar 11, 2009 12:16pm
Quoting jgadefelth
ok you move from the orginal post and try to teach more on how to read makets, well that is hard for me it is werry logical and fine when you show a picture here but when i then sit and watch my self i dont see those things

and i think i go smash my head in the wall or something


best regards

Ok. Pull up some charts, draw some lines and tell me what you see...now.

Atach them to a post, please.
Peace
  • #1,039
  • Mar 11, 2009 12:16pm Mar 11, 2009 12:16pm
yes i think he have more urgent needs than i have so take the old friend out


sh.... i dont know how to post a pic in here. was looking at gbp/usd and five minutes so first a trend and a high as a resistance and then pullback and now it is going back to the top lets see whats happening

best regards
  • #1,040
  • Mar 11, 2009 12:18pm Mar 11, 2009 12:18pm
FEB,

Tks for that response & your latest chart is what I am watching as well.
I really like your comment.."Trading In The Middle Of The Storm".
How very true that is on the 5M time frame, but it offers some nice opportunities along the way if one is correctly positioned.

Good Trades & Good Karma To You My Friend.

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