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  • #461
  • Mar 15, 2009 2:38pm Mar 15, 2009 2:38pm
  •  hansnl
  • | Joined May 2007 | Status: don't get shot trade small lots | 83 Posts
Quoting Bloom
Same here, studying on a Sunday afternoon. Gotta keep up as I've a feeling this thread will be a biggie.
ha Bloom, reset your settings so I can send you a private message if you like

Hans..
  • #462
  • Mar 15, 2009 2:41pm Mar 15, 2009 2:41pm
Use the force...let go
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  • #463
  • Mar 15, 2009 3:31pm Mar 15, 2009 3:31pm
  •  hansnl
  • | Joined May 2007 | Status: don't get shot trade small lots | 83 Posts
duly noted. A place to pause. Report, reflect, question this world
  • #464
  • Edited 4:28pm Mar 15, 2009 3:52pm | Edited 4:28pm
I thought this might help.
Attached File(s)
File Type: doc PPZ_Summary.doc   335 KB | 2,227 downloads
Honest Bill
  • #465
  • Mar 15, 2009 6:16pm Mar 15, 2009 6:16pm
Attached are some of the stuff, I collected on candlesticks.

Rock n Roll,
Strat
Attached File(s)
File Type: doc 5 Tips on Trading Hammers to Improve Your Odds.doc   53 KB | 6,894 downloads
File Type: doc CANDLESTICK SIGNALS.doc   33 KB | 6,959 downloads
File Type: doc Swing Trap.doc   58 KB | 6,205 downloads
15 YEARS OF PASR ON FOREX FACTORY!
  • #466
  • Mar 15, 2009 6:20pm Mar 15, 2009 6:20pm
Quoting Baba G
Strat i was just gonna start throwing in charts with the M.As on and sort of say "well?" when a bit of price action showed up.In fact what do you think the best way is?This is what i know of M.A.s James 16 base and price actions at those levels.I gave up on "touch" entrys as i would have to change mi pants everytime i filled a ticket mostly on "instant exe" both my order and my bowls with it.So i gave up on that bit but i marveled when we got a bit of on trend price on a "first time back" (SEE USD/CAD DAILY ZOOM RIGHT OUT YOULL SEE) and...
I thought you already had a cherry on your cake!
I don't use moving averages for signals only price action at support and resistance. They are there to give us additional information on price.

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #467
  • Mar 15, 2009 7:00pm Mar 15, 2009 7:00pm
Quoting hansnl
http://i41.tinypic.com/2i0wwsz.jpg

Boss USD/JPY "rejected by 5 layers of resistance "

mmm..... could be simple as that!
Thanks, Hans. Your chart gives us an opportunity to look at how the moving averages help us make a decision.

Look at the hammer on the grid line that falls on "7 Sep 2008". When that appeared, if we didn't know better, we could be looking for a long position a few pips above the high (providing the hammer was at support). Now if you always use the bar that presents the price action to you as a "SIGNAL BAR" and place stop orders above/below it, most times, if you get the direction wrong, you will not get filled, as in this case. However, you will get filled if your Broker or MMs go on a Stop Run.

So, we placed our stop order, "x" pips above the high and we didn't get filled - another sign that the downtrend is still in force. However, the next bar was an Inside Bar giving as an opportunity to go short at a discounted price.

IBs are "PAUSE" bars - the market is undecided - taking a rest - usually in a confirmed trend it will be a continuation bar meaning that you can trade in the direction of the trend. If we were not sure on this one, there are a few things telling us that short is the way to go. Go back two bars and you will see a doji bar again with a possible opportunity to go long. The next bar is a bearish bar with the same high giving us a double top (2 bar high) meaning that there are no buyers above that level. There should also be resistance somewhere above these giving us additional information.

Now back to the hammer - we see that this has closed below the 20 and 50. The IB has closed below the 20 and 50.

Now look at what the 20 and 50 MAs are telling us. The weaker 50 is holding the stronger 20 down - it is acting as resistance. This happens many times. Also when the two MAs come together like this, it forewarns us of a big move ahead (and what a big move it was too, Mrs Robinson!)

If that hammer was rejected by resistance then this would be what I call my "SIGNPOST" trades. Every now and then, the market throws out trades where everything, including the kitchen sink, lines up and gives us a "SIGNPOST"

So a stop order "x" pips below the low of the IB would have us filled the following week for a huge run down to support - a "fill yer boots" trade if ever there was one! Not only that, but we should also be adding contracts below the next IB and below the swing high.

"Ah but easy for you to say now that you can see what happened" I hear you thinking - not at all - this happens over and over and especially on the Weekly, which is even easier to trade than the Daily - you just need deeper pockets that's all.

Hope this helps.

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #468
  • Mar 15, 2009 7:04pm Mar 15, 2009 7:04pm
Quoting elitejets
I stayed out of Crude on Friday because of the Opec meeting today (they meet four times a year to decide production). Today they have announced they are not making any further cuts ..

Here is the Brent Crude daily chart, the US crude chart is similar. The weekly pin shows a long legged doji. much as you would expect the week before the Opec meeting.
A week ago I wasvery bullish on crude but now I think we are going down again, no matter what the indices do. The demand is just not there at the moment. If we break out of the lower support (trend)...
You may want to go into "Properties" on your charts and uncheck the Volume box to remove the Volume below your chart. Then go into indicators and add Volume from there

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #469
  • Mar 15, 2009 7:16pm Mar 15, 2009 7:16pm
Quoting elitejets
I stayed out of Crude on Friday because of the Opec meeting today (they meet four times a year to decide production). Today they have announced they are not making any further cuts ..

Here is the Brent Crude daily chart, the US crude chart is similar. The weekly pin shows a long legged doji. much as you would expect the week before the Opec meeting.
A week ago I wasvery bullish on crude but now I think we are going down again, no matter what the indices do. The demand is just not there at the moment. If we break out of the lower support (trend)...
Nicola is our resident "Queen of Crude" - she has done very well trading this on the shorter time frames - now let's watch her go on the Daily!

Keep posting kiddo!

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #470
  • Mar 15, 2009 8:39pm Mar 15, 2009 8:39pm
Quoting strat
Hans,

This is an absolutely pointless exercise - you can only trade what you see on your charts - NOT what the guy in OZ sees or me in California.

This thread is about training you to SEE what is on YOUR charts.

Rock n Roll,
Strat
My title may be misleading, but my thought is about time. I just got carried back, and away.

I'm only recently paying more attention to price action and this thread has been a huge boost. Thanks in so many ways.

I have two accounts, both with their own charts. Being a little slow it took me a while to figure out they were 4 hours apart. Thursday I was looking at USDJPY and here's this almost daily hammer sitting under a pretty good weekly hammer so I think this at least needs attention. When I finally went to take the trade on my other account I couldn't believe it. Not even close to a hammer. What gives?

Anyway, can I say that Oanda has this feature that lets you set your charts to any time zone? Try and play with it and I don't suppose you'll be surprised to see big differences in the patterns. Which to choose?

So now I'm thinking, why insist on waiting until the actual close if you have a classic pattern in hand? It's 5 o'clock somewhere.

All that to ask, What time zone do you work from, Strat? I want to be comparing apples to apples before I start looking at pineapples.

Wheelz
  • #471
  • Mar 15, 2009 9:30pm Mar 15, 2009 9:30pm
On my data feed, the sunday bar is actually the first couple of trading hours of the Ausralian/Asian zone (till 00:00GMT).

Do you ignore this bar altogether or would you still use it with adjoining bars if it showed say a double high or a double low?

Thanks for your time
  • #472
  • Mar 15, 2009 11:07pm Mar 15, 2009 11:07pm
my market outlook....please please please comment and criticise dont be shy...especially you old timer.

eur/usd - weekly - shows down momentum - strong resistance at 1.3000 region with a ppz, a 23.3% retracement from the july high to the recent low, and the daily 20ema in that region
daily - found support at the 50 - to me at least his is a mess so looking for some sort of PA for further information

GBP/USD - weekly - 50 and 20 both down suggesting further down movement- interesting pair in my opinion - price right now at 1.400 ppz - last weeks bar was a hammer(pin) with increasing volume indicating some possibility in bull movement
daily - 1.400 ppz had numerous bounces off it and now finding confluence with the 20 ema. bearish price action will have me enter with a target toward the recent bar lows..

intersting side note : had a buy limit on this pair last week at 1.3600 that didnt get hit..my profit target was 1.400 wich is were price is now...needless to say i removed that order

USDJPY -weekly - price found resistance at 50 ema..and support at 20 ema which is also a ppz and 23.6 retracement(june high -december low) last weeks bar tested both emas but closed almost even with the open with increased volume.
daily - march 12th bar - huge indecision , bounce of ppz / 20 ema and huge volume - to be honest don't know what to make of this pair...so i dont trade

usd/chf - last week found support at 1.1400 confluence of 20 ema / ppz and a fib on my chart. then went on to test resistance at 1.1850
daily - huge bullish engulfing bar on the 12th...what interested me more however is the IB the following day with volume greater then that beast.. currently have a buy stop in place with an initial profit taking level at the 1.2050 region
  • #473
  • Mar 16, 2009 1:55am Mar 16, 2009 1:55am
Quoting 4xWheels
My title may be misleading, but my thought is about time. I just got carried back, and away.

I'm only recently paying more attention to price action and this thread has been a huge boost. Thanks in so many ways.

I have two accounts, both with their own charts. Being a little slow it took me a while to figure out they were 4 hours apart. Thursday I was looking at USDJPY and here's this almost daily hammer sitting under a pretty good weekly hammer so I think this at least needs attention....
Seems like you have the same verbose problem as me Wheelz but welcome anyway!

My charts are 00:00 EST (New York)

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #474
  • Mar 16, 2009 2:10am Mar 16, 2009 2:10am
Quoting reddog19
On my data feed, the sunday bar is actually the first couple of trading hours of the Australian/Asian zone (till 00:00GMT).

Do you ignore this bar altogether or would you still use it with adjoining bars if it showed say a double high or a double low?

Thanks for your time
Well I go against convention and just about every so called guru out there and use it. Depending on it's location and lots of other things, it has got me safely into many good trades. There have also been times when London have come in and completely wiped that bar out but the good thing is the SL is usually small, as many times it is an IB. I treat it exactly the same as any other bar with regard to price action at support and resistance.

I don't combine it with adjoining bars but do look to see if it throws out any pattern or clues.

Before anyone starts to write their reasons for not using it, please save your typing skills - I know the disadvantages of using it but it is part of my method which works for me. I will give the same response to this as to my using volume - I don't give a rat's ass what anyone thinks about my using it!

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #475
  • Edited 2:50am Mar 16, 2009 2:39am | Edited 2:50am
Quoting pizdun
my market outlook....please please please comment and criticise dont be shy...especially you old timer.

eur/usd - weekly...
My first reaction to anyone who calls me "an old timer" is to recommend they take up sky diving without a parachute! Anyone that knows me knows I am far younger in body and mind than my years and can still outperform in many ways, men who have only had their second 20th birthday.

My second reaction to this is read my End of Week summary but you are obviously asking for this for a reason, so here goes:

EURUSD
The last 2 bars of the BOSS are showing UPWARD MOMENTUM. Major resistance is at 1.2950 followed by 1.3080. The swing from July to October is DEAD and BURIED - it produced it's retrace in mid December. You must pull fibs on the CURRENT swing.
Daily has been a mess since February

GBPUSD
BOSS - That is not a good hammer to trade off. It is NOT at the end of a downtrend and unless 1.3550 is THE bottom, should protrude lower than recent lows with a close around 1.3650. This type of bar sometimes produces IBs on the next bar. How do you know increasing volume indicates bull movement? You must be VERY CAREFUL with considering volume until you know how volume works.
Daily - you say bearish but what about the BOSS - you just said it is BULLISH!
If price closes below 1.4050 and the 20, I'm putting a sell stop below the bars' low

""intersting side note : had a buy limit on this pair last week at 1.3600 that didnt get hit..my profit target was 1.400 wich is were price is now...needless to say i removed that order"" - so you either don't know what you're doing or don't have confidence in what you're doing so you are just gambling!
If you had known what you were doing you would have seen that BULLISH ENGULFING bar (on my data) on March 11 telling you to go long!

OK, enough. You should have enough ammo now to do further analysis but BE VERY CAREFUL WITH VOLUME ANALYSIS
15 YEARS OF PASR ON FOREX FACTORY!
  • #476
  • Mar 16, 2009 2:53am Mar 16, 2009 2:53am
Just seen that Jacko is now charging $700 to join his private group - Hmmm - Maybe I need to start a private group!

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #477
  • Mar 16, 2009 3:22am Mar 16, 2009 3:22am
My plan for this thread was to lay it out in a logical and organised manner so that it would be easy to progress from the beginning of the posts to the end.

Unfortunately, my answers to the many PMs and posts have now made that impossible.

If there is anyone out there with good organisational skills, I think it would be very beneficial to have a word document laid out with an Index, containing copies of the relevant posts. This needs to be a dynamic document posted as a "sticky" and kept current with new posts.

Anyone up to it? I can't do it - I'm spending more time answering posts, PMs, Skypechat and Skypecalls than I am sleeping right now!

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #478
  • Mar 16, 2009 3:24am Mar 16, 2009 3:24am
  •  hansnl
  • | Joined May 2007 | Status: don't get shot trade small lots | 83 Posts
[quote=4xWheels;2605039]My title may be misleading, but my thought is about time. I just got carried back, and away.


Anyway, can I say that Oanda has this feature that lets you set your charts to any time zone? Try and play with it and I don't suppose you'll be surprised to see big differences in the patterns. Which to choose?


Thanks I,didn't know that future I only use the buy/sell buttons on my Oanda account.
Great for testing where a 200 pip stoploss cost me 5 euro!!

A+

hans..
  • #479
  • Mar 16, 2009 3:25am Mar 16, 2009 3:25am
For some reason, my thread page has gone from a size that fully fitted on my screen to one that now needs toggling from right to left to see all the post.

Anyone know how to change this?

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #480
  • Mar 16, 2009 3:49am Mar 16, 2009 3:49am
its the chart that was posted,the BIG one......will have to wait for page end or change

the size of chart, ......... needs to be changed by the poster

baz
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