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Charting and Trading Daily Reversal Points

  • #221
  • Mar 16, 2009 6:51pm Mar 16, 2009 6:51pm
UR = 1.3164
LR = 1.2959
LTP = 1.3200
STP = 1.2900
TH = 75

2nd Set

LR = 1.2715
LTP = 1.2950
TH = 75

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 24 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #222
  • Mar 16, 2009 6:53pm Mar 16, 2009 6:53pm
UR = 99.80
LR = 97.08
LTP = 98.50
STP = 98
TH = 60

2nd Set

UR = 98.24
STP = 96.50
TH = 60

Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 24 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #223
  • Mar 16, 2009 6:56pm Mar 16, 2009 6:56pm
UR = 127.92
LR = 125.20
LTP = 128
STP = 125
TH = 100

2nd Set

UR = 129.90
STP = 127
TH = 100

Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 23 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #224
  • Mar 16, 2009 6:57pm Mar 16, 2009 6:57pm
hi, damon: how are you?

just curious, is there a way I can predict yesterday's rebounce/resistance level of G/U at 1.4160 using some history data?

I saw you're drawing Jan-Mar price chart, does that indicate that 1.4160 a critcal resistance level? thanks

http://www.forexfactory.com/attachme...9&d=1237246032
Quoting damonl
Ur = 1.4140
Lr = 1.3936
Ltp = 1.4200
Stp = 1.3900
Th = 100

Attachment
  • #225
  • Mar 16, 2009 6:59pm Mar 16, 2009 6:59pm
UR = 140.41
LR = 136.92
LTp = 141
STP = 137
TH = 150

2nd Set

LR = 133.1
LTP = 137
TH = 150

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 23 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #226
  • Mar 16, 2009 7:03pm Mar 16, 2009 7:03pm
I have decided to exchange GbpChf with UsdCad. i do not like the price action of the Looney with this system.

UR = 1.6826
LR = 1.6620
LTP = 1.6850
STP = 1.6600
TH = 100
Exit Margin = 15

2nd Set

LR = 1.6377
LTP = 1.6600
TH = 100
Exit Margin = 15

Attached Image (click to enlarge)
Click to Enlarge Name: gc.gif Size: 25 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #227
  • Mar 16, 2009 7:27pm Mar 16, 2009 7:27pm
why do you have eur/usd? You said earlier you were doing aud/usd instead?
  • #228
  • Mar 16, 2009 7:35pm Mar 16, 2009 7:35pm
1st, let's go over the results I had for 03/16/09

I had to force the GbpJpy trade open because by the time I entered my values, price had already been to my LR.

GbpJpy Entered at 137.28 and stopped out at 139.27 for +199 pips

GbpUsd Entered at 1.4154 and stopped out at 1.4131 for +23 pips

UsdJpy Entered at 98.18 and stopped out at 98.38 for -20 pips in profit

Gary also had a UsdCad trade that stopped out at -17 pips, but the threshold was reached on my end and so the pending order was cancelled.

EurJpy Entered at 127.49 and is still open with a stop at 127.73. If this stop hit we would lose -24 pips.

Total closed pips today = +202
Totat open pips still from today -5

So, a very good start to the week

I have not got the new version out to the testers yet, As time was just running short tonight. We have hopefully fixed a small bug and have also added a Max S/L feature where you can fill in the amount of initial S/L you would like to risk in case our S/L system puts you higher than that.

I am also going to make an update to the 1st post with some changes in a few of the variables.

Other than that, enjoy tonights trading and here is hoping we get some good results again today.

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #229
  • Mar 16, 2009 7:45pm Mar 16, 2009 7:45pm
audusd does not give us enough daily reward for our risk and so went back to eurusd.

Quoting llambert3
why do you have eur/usd? You said earlier you were doing aud/usd instead?
"Keep your eyes on the helpers" - Mr. Rogers
  • #230
  • Mar 16, 2009 8:03pm Mar 16, 2009 8:03pm
Hey billye -

I am good and you?

I don't know if there is a way to fully predict where price will bounce from. In the 1st post I have an Murrey Indicator that I use to draw out s&r levels. It is good enough since it is a range anyway. You are welcome to grab it and add it to your chart. setting the time to 10080 will draw lines based on the weekly s&r levels.

Then as price hits that range, you would have to go down to some lower TF's and watch price action there to determine if it will bounce enough to enter or not. Just assuming it will bounce at any level by blindly placing an order may leave you with a lot of pain.

I hope that this has been helpful....

Damon

Quoting billye
hi, damon: how are you?

just curious, is there a way I can predict yesterday's rebounce/resistance level of G/U at 1.4160 using some history data?

I saw you're drawing Jan-Mar price chart, does that indicate that 1.4160 a critcal resistance level? thanks

http://www.forexfactory.com/attachme...9&d=1237246032
"Keep your eyes on the helpers" - Mr. Rogers
  • #231
  • Mar 16, 2009 8:12pm Mar 16, 2009 8:12pm
Yeah, it was a good day for me too - no losses! But...that's probably because my EA had no trades either . Still running v1.6_test I assume for Tuesday, right? GBPCHF template?

How you holding up there, Damon?
- Bowen (a.k.a. Wolf)
  • #232
  • Mar 16, 2009 8:21pm Mar 16, 2009 8:21pm
would you like the new version quick Wolf?

Quoting BlackWolf
Yeah, it was a good day for me too - no losses! But...that's probably because my EA had no trades either . Still running v1.6_test I assume for Tuesday, right? GBPCHF template?

How you holding up there, Damon?
"Keep your eyes on the helpers" - Mr. Rogers
  • #233
  • Mar 16, 2009 8:25pm Mar 16, 2009 8:25pm
Yeah, might help. 1.6 didn't launch any trades, could be cause I entered later in the race. Wonder if same would hold true now?
- Bowen (a.k.a. Wolf)
  • #234
  • Mar 16, 2009 8:26pm Mar 16, 2009 8:26pm
Attached File(s)
File Type: tpl gbpchf.tpl   16 KB | 247 downloads
"Keep your eyes on the helpers" - Mr. Rogers
  • #235
  • Mar 16, 2009 8:33pm Mar 16, 2009 8:33pm
thanks damon, last week was ok,
I could grab some pips by enlarge s/l, however if use tight s/l, I guess I'd still stop/out most of the time.
I'm going back to try tighter s/l this week, learn to drive with a safety belt.

it's really nice introducing your S/R indicator, I'll try it tonight. I assume it's looking at around ~ a month duration to calc S/R?

thanks again.

Quoting damonl
Hey billye -

I am good and you?

I don't know if there is a way to fully predict where price will bounce from. In the 1st post I have an Murrey Indicator that I use to draw out s&r levels. It is good enough since it is a range anyway. You are welcome to grab it and add it to your chart. setting the time to 10080 will draw lines based on the weekly s&r levels.

Then as price hits that range, you would have to go down to some lower TF's and watch price action there to determine if it will bounce enough to enter or not. Just assuming it will bounce...
  • #236
  • Edited 5:13pm Mar 17, 2009 4:48pm | Edited 5:13pm
Sorry all. Have had 'work' - almost didn't recognize it when it came - It's kind of becoming a foreign concept you know..

Anyway, just re-read all the posts - trying to make sure I 'have' it, but could use some clarification. Here is my take based on all the info I have read - please correct me if wrong:

1. Installed: EURUSD, GBPUSD, EURJPY, GBPJPY, USDJPY, GBPCHF
2. Indis - MurrayMath and Fractals right? The ATR Indi appears to be installed with the template - is that required or just helpful?
3. Set all to M15 - question: are you ONLY working on M15 to make all determinations (UR and LR etc) or do you start w/bigger TFs and drill down to 15?
4. How to determine BTP and STP? Totally arbitrary? Any general guidelines or recommendations?
5. I set TH, EM and Offset, MM to 'true' and left all else alone. The only other critical piece here seems to be then the URV and LRV, which I gather you determine based upon your own analysis. What is significance of red and blue arrows - sorry...
6. so you then set your URV and LRV (possibly a 2nd 'set' if deemed necessary -separate chart, diff magic no) and let the EA take it from there, right?
7. I have not worked with Murray Math lines and Fractals before - I assume it's purpose is to assist in determining UR and LR points, correct? can you give it to me in a nutshell (relative only to the context of this project) or recommend a quick 'get up to speed' resource that would assist? I don't want to get off on a rabbit trail here tho.
8. Lastly, after reading your recent post, it appears that the Murrey - set to 10080 is what provides the S/R lines and then draws 'weekly' trendlines off of those, correct? Any other words of wisdom here?

Thanks all... I have been anxious to get involved more but I am self-employed (networks) and actually had work last week!



Quoting damonl
Good . So post a chart and help us out. Oh..and welcome
  • #237
  • Mar 17, 2009 4:54pm Mar 17, 2009 4:54pm
Hey flapper,

Click in the paper clip in the upper right and download the delete_allpending file, park it in your scripts folder and drag and drop onto the pair charts that you have pending orders for. I already uploaded that file here in case it crops up again but I "think" the new version EA's have it written into it?

Quoting flapper
I have about 150 or so of the same - can you send me that script too? Kind of tedious to remove. I have just let them sit. It's only on the AUDUSD. THanks!
- Bowen (a.k.a. Wolf)
  • #238
  • Mar 17, 2009 4:56pm Mar 17, 2009 4:56pm
I like the size of your attached charts - can't read Damon's too well. Not sure why, but yours are large and very readable!


Quoting billye
hi, damon: how are you?

just curious, is there a way I can predict yesterday's rebounce/resistance level of G/U at 1.4160 using some history data?

I saw you're drawing Jan-Mar price chart, does that indicate that 1.4160 a critcal resistance level? thanks

http://www.forexfactory.com/attachme...9&d=1237246032
  • #239
  • Mar 17, 2009 5:05pm Mar 17, 2009 5:05pm
Got it!


Quoting BlackWolf
Hey flapper,

Click in the paper clip in the upper right and download the delete_allpending file, park it in your scripts folder and drag and drop onto the pair charts that you have pending orders for. I already uploaded that file here in case it crops up again but I "think" the new version EA's have it written into it?
  • #240
  • Mar 17, 2009 6:40pm Mar 17, 2009 6:40pm
Ur = 1.4140
Lr = 1.3936
Ltp = 1.4200
Stp = 1.3850
Th = 100

Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 25 KB
"Keep your eyes on the helpers" - Mr. Rogers
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