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  • #561
  • Mar 17, 2009 8:25am Mar 17, 2009 8:25am
Thanks Strat,
You nailed it right across
There's a POT of GOLD at the END of the RAINBOW!!
  • #562
  • Mar 17, 2009 8:49am Mar 17, 2009 8:49am
Well I have just seen the draft of the Index and as I told Lance (rogueforex), it is Brilliant, absobloodylutely brilliant!

It is so in keeping with my style and humour complete with a Fender Stratocaster (strat), that if I had done it, I would never have dreamed it.

In fact it is so good, it may put my thread to shame!

Thank you very much, Lance

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #563
  • Mar 17, 2009 9:00am Mar 17, 2009 9:00am
Glad to help; I can see this thread getting out of hand fast and I would hate for new people to avoid it because it is too large. This just means you are going to need to give up more content so the index makes sense.
  • #564
  • Mar 17, 2009 9:21am Mar 17, 2009 9:21am
Quoting haribon2008
There is currently a make or break situation on U/J, the couple of hours or days PA will be the decider of it's fate .... what can you say Strat?
We are witnessing a very interesting fight here. On one hand we have foreign investment buying TBonds thus putting money in the $ and someone/thing is either buying Yen or selling the $.

The last 4 bars of this rally have been on anemic volume meaning the big boys are not involved in this. That says to me they are sat on the sidelines waiting - but for what? Since the Yen is Tokyo's pride and joy, we can sometimes gleam their intention by watching what they do. If I can get up an hour earlier tomorrow morning, I will watch what Tokyo does to see if there are any clues.

Other than that, if my momentum analysis is worth anything it is still bullish but just beginning to ease off on the gas. Since the 20 supported this last swing, it's telling me it is involved in this, so I will wait for a strong close below the 20 before thinking about shorts. We may have to think longs if the 20 continues to support it!

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #565
  • Mar 17, 2009 9:25am Mar 17, 2009 9:25am
Quoting rogueforex
Glad to help; I can see this thread getting out of hand fast and I would hate for new people to avoid it because it is too large. This just means you are going to need to give up more content so the index makes sense.
Lance - will there be a way to post this as a "sticky" on the first page?

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #566
  • Mar 17, 2009 9:49am Mar 17, 2009 9:49am
Sure, I will post it in the thread and you can edit the 1st post with a link to the index. I will contine to update here so it will always be current.
  • #567
  • Mar 17, 2009 10:16am Mar 17, 2009 10:16am
HI Strat

Really enjoying the thread comparing what my interpretation is against yours, great way for building confidence and leaning I've defiantly been caught out trying to trade multiple time frames ending up not knowing what me arse from my elbow is doing.

Defining the lead TF and sticking to just the two is so much easer to manage. When scanning charts in the morning I’m experimenting with simple S&R by drawing one resistant line and one support line from Monthly, Weekly and Daily this gives me a quick heads up looking at R/R.

Also you mentioned how you draw S&R from the body of the candle, this can be a bit subjective given all the different data feeds but I guess as you say, trade what’s in front of your screen.

The other skill I need to practice is entry on the daily as I’ve been using hourly (That’s why my trading is inconsistent with lots of wins and just as many stop outs) If I’ve interpreted your teaching right you place stop/buy orders when you have identified the right price action, along with S&R ect with breathing room (10-20 pips) on close of daily bar 17.00hrs (UK time) or if the conditions are right use 4hr TF for pulling the trigger.

Thanks again for your time and effort in sharing your wisdom.
Yesterday’s regrets and tomorrows dreams are today’s opportunities
  • #568
  • Edited 11:32am Mar 17, 2009 11:04am | Edited 11:32am
Quoting strat
GBPCHF- Very weak shooting star rejected by major resistance at 1.6850

Rock n Roll,
Strat
It was a very weak one but it is also off a support/resistance line on the weekly and also a 50% fib from recent highs and lows, which makes it a bit more desirable to me.

Nicola
Attached Image (click to enlarge)
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  • #569
  • Mar 17, 2009 11:10am Mar 17, 2009 11:10am
Well my bearish opinion at the beginning of the week was wrong for crude.
A good lesson for me that good looking candles trapped in a range don't mean much.
Anyhow I have carefully drawn my support / resistance lines and I think this has some more room to the upside.

Nicola

PS I am hoping Strat finally approves of my charts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: brent daily.gif Size: 19 KB
Click to Enlarge Name: us crude may daily.gif Size: 18 KB
  • #570
  • Mar 17, 2009 11:37am Mar 17, 2009 11:37am
Quoting strat
I did it on purpose to confuse the hell out of you!

No, I'm in China right now checking up on my business interests so I am 18 hours ahead of EST

Wait a minute - doesn't that mean I should be able to tell you what happened so that you can trade it? If only!

Rock n Roll,
Strat
Very funny, but I remain confused and I doubt the hell is out of me. Have mercy. I'll admit I celebrated my second 30th birthday last year.

So I'll re-phrase the question and hope you don't mind. On a normal day for you, and using the charts you trade off, What time is it when your daily bar closes? And where are you? Please, if you see what I'm after here, answer it any way you'd like.

And while I'm on Time, your recent post on time frames was illuminating.

Wheelz
  • #571
  • Mar 17, 2009 11:42am Mar 17, 2009 11:42am
Quoting elitejets
It was a very weak one but it is also off a support/resistance line on the weekly and also a 50% fib from recent highs and lows, which makes it a bit more desirable to me.

Nicola
I like the look of this entry, fib also adds weight to entering a short here
  • #572
  • Mar 17, 2009 11:55am Mar 17, 2009 11:55am
Im also looking at EUR/JPY closely, this pair looks to be closing in on a major bit of resistance on the daily time frame. Resistance around 128-130 area is key I think. Price action around here will be very interesting in deed and I suspect will give us a very nice move either direction for some good pips!

Im reading through threadnow seems that it could turn into another excellent forex factory thread.
  • #573
  • Mar 17, 2009 11:57am Mar 17, 2009 11:57am
Counter Trade:

Shorted USD/JPY @ 98.65, SL=125..... seems 4 succesive weak candles won't sustain current offensives, posible retracements (+150pips) ...
There's a POT of GOLD at the END of the RAINBOW!!
  • #574
  • Mar 17, 2009 12:07pm Mar 17, 2009 12:07pm
Perfect.......That process is STANDARD.I use 3 different colors to help the eye remember which S/R belongs to what time frame.

If i dont cross check that well i cant sleep!!!
  • #575
  • Mar 17, 2009 12:16pm Mar 17, 2009 12:16pm
Quoting haribon2008
Counter Trade:

Shorted USD/JPY @ 98.65, SL=125..... seems 4 succesive weak candles won't sustain current offensives, posible retracements (+150pips) ...
Dude your clockin them up!!!!! where you at in the demo,live,fund thing and whats your poison on the charts......let me know g

If its lowers pop it on my log as Strat has said only dailys here,hes the boss.
  • #576
  • Mar 17, 2009 12:26pm Mar 17, 2009 12:26pm
im on Daily like you

don't know.... still can't remove instinct coming into play
There's a POT of GOLD at the END of the RAINBOW!!
  • #577
  • Mar 17, 2009 12:40pm Mar 17, 2009 12:40pm
Quoting haribon2008
im on Daily like you

don't know.... still can't remove instinct coming into play
i Cant see a daily to short on the usd yen.Instinct playing playing what?


sorry non capito,im a trader and a bit stupid....do go on!
  • #578
  • Mar 17, 2009 12:51pm Mar 17, 2009 12:51pm
Quoting haribon2008
Counter Trade:

Shorted USD/JPY @ 98.65, SL=125..... seems 4 succesive weak candles won't sustain current offensives, posible retracements (+150pips) ...
Haribon,

What time frame are you using and what PA?

Can't see anything on my data.
  • #579
  • Mar 17, 2009 12:55pm Mar 17, 2009 12:55pm
[quote=elitejets;2609133]Well my bearish opinion at the beginning of the week was wrong for crude.
A good lesson for me that good looking candles trapped in a range don't

BABA SAYS

Did you see what Strat said on time frames VERY impotant if your not doing that in your process.

Yes,its not just the bar but where it is...

Understanding her terrrain of combat is vital for the warrioress
  • #580
  • Edited Mar 18, 2009 12:15am Mar 17, 2009 1:51pm | Edited Mar 18, 2009 12:15am
This file will be updated regularly to include new content. If you need another file format, notice errors, or have suggestions please PM or email me and I will be happy to oblige.

Thanks

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