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  • #841
  • Mar 19, 2009 11:19pm Mar 19, 2009 11:19pm
Quoting 4xWheels
...are you smoking something?...
Wheelz - I didn't think it possible but you are even more weird than I!

"BTW, it is said that if you can remember the sixties then you weren't there"
Whoever told you this is full of rocking horse sh*t!
15 YEARS OF PASR ON FOREX FACTORY!
  • #842
  • Mar 19, 2009 11:25pm Mar 19, 2009 11:25pm
My charts are off guys, I just realized I had a 20 MA, and not a 20 EMA. In this case the 20 EMA is right below G/J and price failed to close below it. This is bullish. This also goes for my BOSS 20, which has now been changed to an EMA.
Bang.
  • #843
  • Mar 19, 2009 11:27pm Mar 19, 2009 11:27pm
Quoting strat
And you did all this with NOTHING but PRICE ACTION - right?
As i percieved it at the time yes sir!

i know it wasn't a long term trade, i was only in the trade a couple of days, but i didn't have any misconceptions that what i thought, was the way the market had to go, i didn't want to mary my trade or my direction, but i did trade this trade from the daily and higher time frame from go to woe, using s/r and candle patterns.

was i wrong?
  • #844
  • Mar 19, 2009 11:35pm Mar 19, 2009 11:35pm
Strat, if you just edit the first page and reference people to the attachment paper clip for the most recent index, that will be the easiest way to get newcomers the latest version.

I thought you might like the "one hit wonders" tab I added. Not that your inspirational revelations are destined to rocket to the top, then dissolve into oblivion in the style of Carl Douglas and his famous one hit wonder Kung Fu Fighting circa 1974. Sorry, it's the closest one I could find to the 60's.
Attached File(s)
File Type: xls Index Page 19.xls   813 KB | 667 downloads
  • #845
  • Mar 20, 2009 12:04am Mar 20, 2009 12:04am
i was just trying to look at a chart to see the stations, so thought i would post a couple of charts.
this is what i found
cheers
geoff
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusddailystations1.gif Size: 27 KB
Click to Enlarge Name: eurusddailystations.gif Size: 32 KB
Click to Enlarge Name: eurusddailystations3.gif Size: 31 KB
  • #846
  • Mar 20, 2009 12:04am Mar 20, 2009 12:04am
Quoting bjohn34
Let me take a shot at this one and regurgitate what I see.

Yesterdays Daily bar was almost a pin bar but not really because it did not open and close inside the previous bar. The long tail almost hit weekly support i have at 2165 and the body closed between weekly and monthly support lines and near the BOSS20

In my mind, it is not clear where it will go from here. May go down again to retest the lower support or may reverse from the current support and the BOSS.

My opinion is to wait and see which way it declares and look for some real PA to...
Shanghai bj, I don't agree with the J16 qualification as you have written here - but that's OK - there is more than one way to skin a cat. They can show me hundreds of their definitions of what works as can I so what is important, is what works for YOU.

Waiting for the next bar is good and often on a Friday, with lower volume, you get an IB, so an opportunity with a discount price may be available later.

Yes, there is every chance the next bar may again re-test the low but for me, everything, including volume and where the hammer closed (smack bang on psycho 1.2400 major support) is sufficient for me to put in my buy order. As long as we use good management in placing trade entry and SL we will be protected as best we can.

The only downside for me is the over head resistance at the 20 and psycho 1.2700 but it will still give us a few pips.

More important than any of the above, it's not a question of being right or wrong (we never are, the market always is) but whether we made a profit or not.

If we didn't make a profit, or didn't get filled or worse, encountered a loss, there is always another trade being set up for us somewhere.
15 YEARS OF PASR ON FOREX FACTORY!
  • #847
  • Mar 20, 2009 12:09am Mar 20, 2009 12:09am
Quoting kurt
Hi Strat, thanks for your wonderfull thread, it's just started but i've learned already a lot. The interaction from the price with the ma's is just unbelievable. I'm trading naked (charts) for 2 years now on the 1H frame. I'm profitable but i spend a lot of screen time. I'm looking forward to your next lessons! The thread is a bit of track at the moment (15 min and 1 h charts) but it shows only that discipline and patience is the most difficult to learn.
Thank you for posting, Kurt. I don't think it is off track with what Baba G posted so stay tuned as they say.
15 YEARS OF PASR ON FOREX FACTORY!
  • #848
  • Mar 20, 2009 12:15am Mar 20, 2009 12:15am
Quoting geoffrod
i was just trying to look at a chart to see the stations, so thought i would post a couple of charts.
this is what i found
cheers
geoff

If I can ask, why did YOU choose these levels? Remember 95% of traders lose money...
  • #849
  • Mar 20, 2009 12:22am Mar 20, 2009 12:22am
Quoting rogueforex
If I can ask, why did YOU choose these levels? Remember 95% of traders lose money...
Lance,
purely looking back in time to find area's of congestion which indicates to me this is the area where the currency is taking a breather and loading up with passengers then when it leave the area it is either going north or south, as the doctor say's when it stops going north it must be going south????
and in doing this lance i just notices how these area's from the past still had an effect on the price when they entered again.

cheers
Geoff
  • #850
  • Mar 20, 2009 12:28am Mar 20, 2009 12:28am
Quoting Naws
I am kind of like you when you were 22, I am 19 and in university, I randomly stumbled upon a forex website a few months ago and I got hooked. Now I almost spend more time studying forex than my school work. By attending a business school for two years now I am actually being somewhat put off by the prospect of the traditional corporate lifestyle, of always living as means to an end, studying my ass of to get good grades, to get a good job, working my ass of in a job I dont like to get that promotion etc etc. The forex trader lifestyle really started...
Thanks Naws - I wish I had been into forex at 19! Whatever you do and think, do NOT let anything or anyone put you off completing your University education. You will always have it and you will always be in good stead with it.

I insisted both our kids get degrees - our daughter has started and sold successful businesses and is now on her 3rd business. Our Ryan has been a surfer since he was 6, when we first came to plastic city in 1982 and I wanted him to follow in the men in our family's footsteps. "Not on your life", he said so he got his degree in Business Management. He now has his own surfing school business (what else?) in Dana point, CA.

The point is, neither of them (also me) are using their degree major but it has helped get them where they are at now.

So focus and concentrate on finishing your degree and then see where you go from there. Whatever happens, you always have a degree and the experience in learning it took to get it.
15 YEARS OF PASR ON FOREX FACTORY!
  • #851
  • Mar 20, 2009 12:30am Mar 20, 2009 12:30am
Quoting geoffrod
Lance,
purely looking back in time to find area's of congestion which indicates to me this is the area where the currency is taking a breather and loading up with passengers then when it leave the area it is either going north or south, as the doctor say's when it stops going north it must be going south????
and in doing this lance i just notices how these area's from the past still had an effect on the price when they entered again.

cheers
Geoff
I wasn't necessarily disagreeing with you, but I respectfully ask again. HOW did you come up with these levels? If 95% lose money you have to see things that 95% of traders don't.

You'll will see it. I know it.
  • #852
  • Mar 20, 2009 12:41am Mar 20, 2009 12:41am
Quoting AminAS
Weekly: There have been two previous tests of 141.70 in this current weekly uptrend, and the last candle formed a hammer on the 136.50 support area, as well as the 61.8% fib. A third test of 141.70 seems likely.

Daily: Price has made large bearish surges that were unable to hold, showing up as huge lower wicks on the previous two candles. The low of the lowest wick was 134.80, which corresponds almost exactly with the 38.2% fib and the BOSS 20. The last bar to close was an inside bar, with a fairly long lower wick as well. Neither...
Are you telling us you have done all this and you don't know?

Good job again AminAS.

Just one thing to add from me. The 20 is horizontal (no slope) - this tells us that prices are approaching balance or equilibrium which means buyers and sellers are in agreement with where the price is at NOW.

Markets are "energy" and are always in a state of balance or out of balance so what do you think will happen from here?
15 YEARS OF PASR ON FOREX FACTORY!
  • #853
  • Mar 20, 2009 12:43am Mar 20, 2009 12:43am
Quoting rogueforex
I wasn't necessarily disagreeing with you, but I respectfully ask again. HOW did you come up with these levels? If 95% lose money you have to see things that 95% of traders don't.

You'll will see it. I know it.
Respectfully lance, i am not quite sure what exactely you are asking, are you asking how i decided where to draw the lines, ???

I am thinking you are trying to get me to see a light bulb come on, but i am a little confused, sorry
  • #854
  • Mar 20, 2009 12:46am Mar 20, 2009 12:46am
Quoting Naws
In addition to Amin's analysis I would like to point out an inverted head and shoulders pattern on the weekly
It gives more confirmation for a move long on the break of the neckline

Attachment
Very good observation, Naws, I missed that! I usually look at other parts of the anatomy!

Knowing that then, you should be able to project your profit taget which is?
15 YEARS OF PASR ON FOREX FACTORY!
  • #855
  • Mar 20, 2009 12:49am Mar 20, 2009 12:49am
Quoting geoffrod
As i percieved it at the time yes sir!

i know it wasn't a long term trade, i was only in the trade a couple of days, but i didn't have any misconceptions that what i thought, was the way the market had to go, i didn't want to mary my trade or my direction, but i did trade this trade from the daily and higher time frame from go to woe, using s/r and candle patterns.

was i wrong?
Geoff - you are NEVER wrong when you make a PROFIT!
15 YEARS OF PASR ON FOREX FACTORY!
  • #856
  • Mar 20, 2009 12:49am Mar 20, 2009 12:49am
Quoting strat
Waiting for the next bar is good and often on a Friday, with lower volume, you get an IB, so an opportunity with a discount price may be available later.

Yes, there is every chance the next bar may again re-test the low but for me, everything, including volume and where the hammer closed (smack bang on psycho 1.2400 major support) is sufficient for me to put in my buy order. As long as we use good management in placing trade entry and SL we will be protected as best we can.

The only downside for me is the over head resistance at the 20 and psycho...
Let's watch to see if we can get that better entry price. At this entry (Above the previous candle high) I would have to pass up the trade due to my account size.

I was watching this one too strat. It's good to have senior confirmation every once in a while.
Bang.
  • #857
  • Mar 20, 2009 12:57am Mar 20, 2009 12:57am
Quoting rogueforex
Strat, if you just edit the first page and reference people to the attachment paper clip for the most recent index, that will be the easiest way to get newcomers the latest version.

I thought you might like the "one hit wonders" tab I added. Not that your inspirational revelations are destined to rocket to the top, then dissolve into oblivion in the style of Carl Douglas and his famous one hit wonder Kung Fu Fighting circa 1974. Sorry, it's the closest one I could find to the 60's.
I like everything you do with this Lance, absolutely amazing!

I'm not too sure about people hitting on my Strat though! She might get worn out!
15 YEARS OF PASR ON FOREX FACTORY!
  • #858
  • Mar 20, 2009 1:00am Mar 20, 2009 1:00am
Quoting strat
Shanghai bj, I don't agree with the J16 qualification as you have written here - but that's OK - there is more than one way to skin a cat. They can show me hundreds of their definitions of what works as can I so what is important, is what works for YOU.

Waiting for the next bar is good and often on a Friday, with lower volume, you get an IB, so an opportunity with a discount price may be available later.

Yes, there is every chance the next bar may again re-test the low but for me, everything, including volume and where the hammer closed (smack...
Strat - Thanks for the comments. Let me take a shot at entry and SL points for your perusal.

Entry - 5-10 pips above the reversal bar high, so about 2510 or could be a little more aggressive and go in about the reversal bar open plue a little at about 2475

S/L - to go to the bottom of the reversal bar nose would make for a very large stop of >300pips. My intuition and reading of the S/R points tells me to put the S/L below the confluence of 50 FIB, Weekly S/R , BOSS20, and 2400 psych level somewhere around 2385

If order not filled today, and today's bar ends up being Bullish IB, then Monday change Entry to a few pips above IB high.

If and when order filled, watch it to see what happens at Daily 50. If gets through, next stop 2700
"Money is easy to make, but hard to keep" - FWV 1975
  • #859
  • Mar 20, 2009 1:08am Mar 20, 2009 1:08am
Quoting AminAS
Let's watch to see if we can get that better entry price. At this entry (Above the previous candle high) I would have to pass up the trade due to my account size.

I was watching this one too strat. It's good to have senior confirmation every once in a while.
Good analysis and THINKING like a professional not a rank amateur - a good trade DISQUALIFIED by excellent Money Management DISCIPLINE

Did you consider a reduced position size or reducing your $/pip so that you could take it?

Slow down AminAS - pretty soon there's going to be nothing left for me to teach you!
15 YEARS OF PASR ON FOREX FACTORY!
  • #860
  • Mar 20, 2009 1:10am Mar 20, 2009 1:10am
Quoting strat
"'stop would need to be below that level with a Buy Stop above the blue box at"'

Dan - NO!

The hammer is what is important - not your blue box. To be SAFE, with the LOWEST RISK, your buy stop should go above the high of the hammer bar. This way, if it is NOT the low, then you will not be filled (stop running excepted). If you put it anywhere within the body of the hammer, you could get filled with an IB and then if prices go lower, get dragged lower with it.

The same with your SL - it HAS to go below the low...
If that's not what i wrote it is what i meant. A Buy Stop at 1.2520 is 20 pips above the high of the hammer for precisley the reason you've stated.
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