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Damion's Tribute

  • #201
  • Jul 15, 2009 4:49pm Jul 15, 2009 4:49pm
Thought I would put down my thoughts.

Anybody else willing to share their thought process...

This could get really interesting.
Attached Image (click to enlarge)
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AFTAB Time Will Tell & Price Will Show
  • #202
  • Jul 15, 2009 4:52pm Jul 15, 2009 4:52pm
Quoting aftab
Your ABCD looks beautiful. Where would you place your stop should you trade it after confirmation?
That's what I'm trying to nail down. Normally I just put it a little above the most recent peak. Here that would be above 155.14.

However, I hate the volatility of this pair and will probably scale down the pip size and put it above the previous highs from a few days ago at 155.34. Any other pair and I wouldn't be as conservative.
  • #203
  • Jul 15, 2009 5:01pm Jul 15, 2009 5:01pm
Quoting finswin56
That's what I'm trying to nail down. Normally I just put it a little above the most recent peak. Here that would be above 155.14.

However, I hate the volatility of this pair and will probably scale down the pip size and put it above the previous highs from a few days ago at 155.34. Any other pair and I wouldn't be as conservative.
Don't trade if you do not like it's volatility. You have posted a few more probable set ups which are good. Why not put your resources there instead. Safer - don't you think.
AFTAB Time Will Tell & Price Will Show
  • #204
  • Jul 15, 2009 5:08pm Jul 15, 2009 5:08pm
I know this is not part of the system but with the ABCD it's easy to make profits both way.

When I posted this chart, the ABCD had already moved a few pips. My original entry would have been much lower - with just a few pips as a stop.
Attached Image (click to enlarge)
Click to Enlarge Name: JPY - 12th July - 1to4 - Buy.jpg Size: 117 KB
AFTAB Time Will Tell & Price Will Show
  • #205
  • Jul 15, 2009 6:17pm Jul 15, 2009 6:17pm
Quoting aftab
Don't trade if you do not like it's volatility. You have posted a few more probable set ups which are good. Why not put your resources there instead. Safer - don't you think.
I can get over the volatility. I love this setup regardless of the pair. It's just one of those things I know I have to account for. As far as I'm concerned, this is one of those trades I can't pass up. Too much confluence with a very solid S/R level, and a TL that price has shown a reaction to three previous times on the other side.

If it loses, it loses. But it won't be for a lack of a great setup.


The only pair I'm really adverse to (to the point that I won't trade it) is the EUR/CHF, at least on the short side. Too much intervention for my tastes.
  • #206
  • Jul 15, 2009 6:20pm Jul 15, 2009 6:20pm
Quoting aftab
I know this is not part of the system but with the ABCD it's easy to make profits both way.

When I posted this chart, the ABCD had already moved a few pips. My original entry would have been much lower - with just a few pips as a stop.
That turned out to be a great call
  • #207
  • Jul 15, 2009 6:34pm Jul 15, 2009 6:34pm
Not ABCD, and not the good TL's in that we don't see HH's or LL's off the TL's. However, It's a pretty nice setup if you like ranges. I'm not taking this trade, but this could turn into one heck of a breakout.
And I saw people complaining about this pair being range bound in June :O

EDIT: I've changed the picture a little adding in Fib and triangles. Isn't this pretty near a textbook Gartley?
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Click to Enlarge Name: EURUSD.png Size: 32 KB
  • #208
  • Jul 15, 2009 6:53pm Jul 15, 2009 6:53pm
Quote
EDIT: I've changed the picture a little adding in Fib and triangles. Isn't this pretty near a textbook Gartley?

there's more to ABCD. we have been trading in a large channel on daily which is the trend definition for now. sell resistance and buy support.

Now u have a convergence at resistance, so sell!
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  • #209
  • Jul 15, 2009 7:06pm Jul 15, 2009 7:06pm
Quoting Naijafx
there's more to ABCD. we have been trading in a large channel on daily which is the trend definition for now. sell resistance and buy support.

Now u have a convergence at resistance, so sell!
LOL
After seeing the convergence, I convinced myself to get in at a decent spot.
The R:R is certainly worth it.
  • #210
  • Jul 15, 2009 10:46pm Jul 15, 2009 10:46pm
Quoting finswin56
Not ABCD, and not the good TL's in that we don't see HH's or LL's off the TL's. However, It's a pretty nice setup if you like ranges. I'm not taking this trade, but this could turn into one heck of a breakout.
And I saw people complaining about this pair being range bound in June :O

EDIT: I've changed the picture a little adding in Fib and triangles. Isn't this pretty near a textbook Gartley?
You have a perfect AB=CD and a superb Bearish Gartley. You might also be right about the breakout.

I missed this trade as I was at work but what made you not take this trade?
Attached Image (click to enlarge)
Click to Enlarge Name: EUR - 16th July 2009 - Bearish Gartley.jpg Size: 156 KB
AFTAB Time Will Tell & Price Will Show
  • #211
  • Jul 15, 2009 10:53pm Jul 15, 2009 10:53pm
Quoting Naijafx
there's more to ABCD. we have been trading in a large channel on daily which is the trend definition for now. sell resistance and buy support.

Now u have a convergence at resistance, so sell!
finswin56,

Now u have a convergence at resistance, so sell - without any doubt.

It takes guts to post charts before you take your trades. Hats off to you.

Most of the people hide behind their pretty charts.

Your trade is working well.

AFTAB Time Will Tell & Price Will Show
  • #212
  • Jul 16, 2009 2:04am Jul 16, 2009 2:04am
Quote
finswin56,

Now u have a convergence at resistance, so sell - without any doubt.

It takes guts to post charts before you take your trades. Hats off to you.

Most of the people hide behind their pretty charts.

Your trade is working well.


Posting a live chart is just a way of encouraging ourselves. i took several trades but when i saw that finswin56 needs to be encouraged, I posted the chart.

that doesnt means it will work out but its a perfect place to sell as long as we aare still in the trading range.

Maybe be there shd be a rule, alwayz post live charts!
  • #213
  • Jul 16, 2009 2:33am Jul 16, 2009 2:33am
Quoting Naijafx
Posting a live chart is just a way of encouraging ourselves. i took several trades but when i saw that finswin56 needs to be encouraged, I posted the chart.

that doesnt means it will work out but its a perfect place to sell as long as we aare still in the trading range.

Maybe be there shd be a rule, alwayz post live charts!
Mike,

You are spot on. Post a live chart with the stop marked.
AFTAB Time Will Tell & Price Will Show
  • #214
  • Jul 16, 2009 2:57am Jul 16, 2009 2:57am
Did not get to this in time. Just came home.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: CAD - 15th July - Daily - 2.jpg Size: 131 KB
Click to Enlarge Name: CAD - 16th July - 240 Mins.jpg Size: 136 KB
AFTAB Time Will Tell & Price Will Show
  • #215
  • Edited 3:41am Jul 16, 2009 2:59am | Edited 3:41am
15 Mins ABCD at the trendline.

Probably missed it as well. I am not trading it as I have to go out for a dinner in 15 mins.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP - 16th July 2009 - 15 Mins.jpg Size: 137 KB
Click to Enlarge Name: GBP - 16th July 2009 - 5 Mins.jpg Size: 148 KB
AFTAB Time Will Tell & Price Will Show
  • #216
  • Jul 16, 2009 5:21am Jul 16, 2009 5:21am
Thanks for the positive feedback guys. I try to post live charts just to keep myself honest.

I'm always curious about how other traders manage their trades. How do you guys manage your trades? Do you trail the stop? How quickly to you move it to break even?

EDIT: In regards to the EUR/USD set up, I did manage to get myself into that trade. As soon as I realized there was some harmony ;D
  • #217
  • Jul 16, 2009 5:46am Jul 16, 2009 5:46am
Quoting aftab
15 Mins ABCD at the trendline.

Probably missed it as well. I am not trading it as I have to go out for a dinner in 15 mins.
I like the way you've used FE to show the potential reversal point. Looks like you nailed it almost to the pip. That reversal point also happens to be at the TL you had on your earlier charts of Sterling. At this point price has move too much for me to get in at a comfortable spot, but the setup was spot on.
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  • #218
  • Jul 16, 2009 7:17am Jul 16, 2009 7:17am
Quoting finswin56
Thanks for the positive feedback guys. I try to post live charts just to keep myself honest.
This is everything finswin56;2878247. Have you read Trading In The Zone?

Quote
I'm always curious about how other traders manage their trades. How do you guys manage your trades? Do you trail the stop? How quickly to you move it to break even?
You mentioned you liked the way I use FE to show the reversal points. In this market an end of something is the beginning of something else.

Post a few charts and I will help you with this. It's not difficult. I am happy to help you.

Quote
EDIT: In regards to the EUR/USD set up, I did manage to get myself into that trade.
Superb. Where did you place your stop?

Quote
As soon as I realized there was some harmony ;D
How did you realise there was some harmony? You need to read Trading In The Zone.
AFTAB Time Will Tell & Price Will Show
  • #219
  • Jul 16, 2009 7:51am Jul 16, 2009 7:51am
Quoting finswin56
Looks like you nailed it almost to the pip.
Use it to place better stops - this will build your confidence - will improve your R:R and in turn will make you money consistently.

Quote
That reversal point also happens to be at the TL you had on your earlier charts of Sterling.

Don't let my trading at the trendline impress you. I mentioned earlier on that by using the DRA System (first) and combining it with harmonics my trading improved. I was trading just harmonics and to be honest with you, I got drowned into all those lines. Now I trade the bounce of the trendline - front or back with harmonic set ups only. This combination is superb.

Again this is simple. When price goes above the trendline, we are looking for harmonics that will give us a signal to go long.

When price has crossed the trendline (gone below) we look for harmonics that indicate to us to go short.

Now this is usually true. However, the other day I saw the AUD give us a sell signal just above the trendline. My point is - the best signals are around the trendlines.


Quote
At this point price has move too much for me to get in at a comfortable spot, but the setup was spot on.

You have to be comfortable with the way you trade and find your own style.

I am happy to help you in any way possible to help you find your own style.
AFTAB Time Will Tell & Price Will Show
  • #220
  • Jul 16, 2009 9:25am Jul 16, 2009 9:25am
Just wanted to point out to this again. The analysis started on Jul 8 and is still relevant, mkt following price action as suggested

http://www.forexfactory.com/showpost...stcount=184306

we shd keep eyes on it



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