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  • #98,181
  • May 20, 2009 8:10am May 20, 2009 8:10am
Quoting notch
That chart almost makes me want to buy and hold!
TP 4145
  • #98,182
  • May 20, 2009 8:12am May 20, 2009 8:12am
Quoting Atlast


Does your cycle indicator have an upper limit?

Yes. 0.003 & -0.003 but it rarely reaches these levels. It is not like a traditional oscillator it is more adaptive but on this upsurge it reached 0.0027. The price has never retraced significantly when the cycle has passed .0020. It usually consolidates and once the cycle reaches zero continues the trend direction.

When I woke up this morning I didn't think that I would actually be working hard for my daily pips. But I'm working very hard.

God, I'd love to take a long here for 15 pips but lack the kahooners.
  • #98,183
  • May 20, 2009 8:15am May 20, 2009 8:15am
nice day for both pair(EUR, GBP)
{Promotion Removed}
  • #98,184
  • May 20, 2009 8:16am May 20, 2009 8:16am
Looks like that is exactly whats happening. This is a nice little Bullish flag continuation pattern here. Now a little hint. You can always tell approx. how long the flag will be. Take the last run up and divide that by 2 as a measured distance and that will be approximately how far it will retrace. So 1/2 the distance of the run up. NOT IN PIPS, just in measured width.
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  • #98,185
  • May 20, 2009 8:17am May 20, 2009 8:17am
Hi guys

im a newbie to this place and love the info everyone shares.

Firstly, i trade scalp entries in the way the trend is telling me. i trade using market matrix theory to identify the turning points, which i then narrow down on 4H charts. They give good signals on CITs.

One question i have, where can i get the S/R lines in MT4?

  • #98,186
  • May 20, 2009 8:17am May 20, 2009 8:17am
Quoting derek
nice day for both pair(EUR, GBP)

Yep..Right now, I'm sure many many traders are feeling very content.
  • #98,187
  • May 20, 2009 8:18am May 20, 2009 8:18am
Quoting stallionez
Hi guys

im a newbie to this place and love the info everyone shares.

Firstly, i trade scalp entries in the way the trend is telling me. i trade using market matrix theory to identify the turning points, which i then narrow down on 4H charts. They give good signals on CITs.

One question i have, where can i get the S/R lines in MT4?

market matrix S/R lines?

What is market matrix theory?
  • #98,188
  • May 20, 2009 8:20am May 20, 2009 8:20am
Its a more refined version of Delta.
  • #98,189
  • May 20, 2009 8:21am May 20, 2009 8:21am
Quoting FXexpress
Looks like that is exactly whats happening. This is a nice little Bullish flag continuation pattern here. Now a little hint. You can always tell approx. how long the flag will be. Take the last run up and divide that by 2 as a measured distance and that will be approximately how far it will retrace. So 1/2 the distance of the run up. NOT IN PIPS, just in measured width.
How do you draw the flags? I noticed that the first (bottom) one measures the wicks and the other two do not. Also, is the angle of each flag important?
  • #98,190
  • May 20, 2009 8:21am May 20, 2009 8:21am
Quoting FXexpress
Looks like that is exactly whats happening. This is a nice little Bullish flag continuation pattern here. Now a little hint. You can always tell approx. how long the flag will be. Take the last run up and divide that by 2 as a measured distance and that will be approximately how far it will retrace. So 1/2 the distance of the run up. NOT IN PIPS, just in measured width.

These are valuable tips you are sharing. Since traders are an ungrateful bunch allow me to say thank you on their behalf.

Thank you. Seriously, the technique shown in the chart is going to help me.
  • #98,191
  • May 20, 2009 8:22am May 20, 2009 8:22am
Quoting stallionez
Its a more refined version of Delta.

OH!!! Post a link so I can find out more. Send me a PM and I'll see if I have anything to share in return.
  • #98,192
  • May 20, 2009 8:23am May 20, 2009 8:23am
where is the retracement going to end
  • #98,193
  • May 20, 2009 8:25am May 20, 2009 8:25am
Quoting samoan
where is the retracement going to end
Get a tape measure ready...
  • #98,194
  • May 20, 2009 8:25am May 20, 2009 8:25am
Quoting samoan
where is the retracement going to end
You should be able to gauge time & price from FXExpresse's chart above.
  • #98,195
  • May 20, 2009 8:25am May 20, 2009 8:25am
Quoting stallionez
Its a more refined version of Delta.
Do you mean you're using Random Matrix Theory applied to markets? Does that work? I thought RMT relied on a Gaussian distribution, I thought all the proof's out there show the currency markets are a Hurst process not Gaussian.

If you're willing to share your approach I'd be interested in hearing about the math involved. Thanks.
"The markets are the greatest chess match ever played."
  • #98,196
  • May 20, 2009 8:28am May 20, 2009 8:28am
Its just a generalization. No wick to wick. I tend to stress that everyone tries to make this harder than it really is. So what I do will look a little differant than you are used to so bear with me. I don't look at news releases, I dont look at news events. I trade what the market gives me. A lot of people will try to trade the news releases, but years of experience tells me to wait for the direction. Trend and entry, trend and entry. Like now, I wait for this flag and enter on the break with the trend. I hope I explained it good enough for you.

MK

Quoting cammomile
How do you draw the flags? I noticed that the first (bottom) one measures the wicks and the other two do not.
  • #98,197
  • May 20, 2009 8:31am May 20, 2009 8:31am
Quoting Tradester
My daily metric is dollar average loss, dollar average gain. By using these values I can better assess if a trade is worth the risk and it helps to keep myself grounded from getting overly greedy.
Any chance of a copy of your Kelly spreadsheet?
  • #98,198
  • May 20, 2009 8:31am May 20, 2009 8:31am
Big move up and heading into the slower time of day. We could see an unusually long flag. Its possible. Gonna eat.

MK
  • #98,199
  • May 20, 2009 8:33am May 20, 2009 8:33am
Notch: Sorry, but my PM doesnt seem to be working.

I use market matrix which is a cycle based theory based on different repeating time cycles. They are usually fairly accurate, and these give me the heads up when the trend is due to change. i have refined it further by using some indicators on 4H charts.

I am not punting anything but Steve Copan has a website which is worth checking out. i hope i dont run the risk of violating the rules on this board.


http://www.themarketmatrix.co.uk/
  • #98,200
  • Edited 8:35am May 20, 2009 8:35am | Edited 8:35am
Quoting FXexpress
Looks like that is exactly whats happening. This is a nice little Bullish flag continuation pattern here. Now a little hint. You can always tell approx. how long the flag will be. Take the last run up and divide that by 2 as a measured distance and that will be approximately how far it will retrace. So 1/2 the distance of the run up. NOT IN PIPS, just in measured width.
While you see a bullish continuation pattern, I see a triangle forming. So it could go either way. the trend of course is still long. There is a bullish continuation pattern in small TF suggesting that round numbers is where this move wants to get to.
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