AFTAB
Time Will Tell & Price Will Show
- #223
- Jul 16, 2009 6:14pm Jul 16, 2009 6:14pm
Hi Guys,
I m back and ready for analysis.What did I missed? many lesson I suppose.Thanks for the congratulatory notes guys.Now I know what it is like to have a daughter... over protective ... future boyfriend and suitor issue in my mind...LOL.I m sure you guys have that feelings.too early for that eh ..Hahahahah.
Wow. I must say this thread is kicking and as a true hard core fx enthusiast, I must not be left out on all of these great stuffs.A lot of reading on my part as aftab has pointed out here.
I missed the gbp/usd , I was stalking it for a couple of days until I had to go hospital accompanying my wife for delivery. anyway the inverted crown was indeed presented itself for the taking but was not there to harvest it.I hope you guys here did caught that one , it was a big one and I m sure Mike et al saw that comming.
Yes Mike this Journal thread has become a journal ala trading lesson..LOL.I suppose that will sharpen the hunter skill in all of us.I thnk this thread is special compared to other thread I visited. Guys who posted here have an attitude that really impresses me.The approach has something to do with it.It enculcates discipline, patience and above all peserverance. That is what I learn from this strategy and from special guys here.
I m back and ready for analysis.What did I missed? many lesson I suppose.Thanks for the congratulatory notes guys.Now I know what it is like to have a daughter... over protective ... future boyfriend and suitor issue in my mind...LOL.I m sure you guys have that feelings.too early for that eh ..Hahahahah.
Wow. I must say this thread is kicking and as a true hard core fx enthusiast, I must not be left out on all of these great stuffs.A lot of reading on my part as aftab has pointed out here.
I missed the gbp/usd , I was stalking it for a couple of days until I had to go hospital accompanying my wife for delivery. anyway the inverted crown was indeed presented itself for the taking but was not there to harvest it.I hope you guys here did caught that one , it was a big one and I m sure Mike et al saw that comming.
Yes Mike this Journal thread has become a journal ala trading lesson..LOL.I suppose that will sharpen the hunter skill in all of us.I thnk this thread is special compared to other thread I visited. Guys who posted here have an attitude that really impresses me.The approach has something to do with it.It enculcates discipline, patience and above all peserverance. That is what I learn from this strategy and from special guys here.
- #226
- Jul 16, 2009 8:01pm Jul 16, 2009 8:01pm
This is everything finswin56;2878247. Have you read Trading In The Zone?
Superb. Where did you place your stop?
How did you realise there was some harmony? You need to read Trading In The Zone.
I originally placed my stop above that most recent high at the TL. It turns out that the trade has not worked, but that's okay. I saw it going poorly and escaped with little loss.
After I posted the chart the first time, I decided to try to see it from another angle (harmonics).
I am happy to help you in any way possible to help you find your own style.
I think I need to do a little more research on harmonics and how to trade them properly before asking too much of you though.
I have forgotten that this is soya's trading journal and feel guilty for taking up so much room in it.
- #230
- Jul 16, 2009 8:29pm Jul 16, 2009 8:29pm
This one is for you.
Chart 1 I get.
Chart 2:
I definitely see the first confluence, but I don't see where the 2nd confluence comes from.
If you are setting this trade up, how do you decide which confluence to use since your decisions need to be made ahead of time?
Charts 3 & 4 are easy to understand as well. I do have a question though.
Since Profit 1 is the most important (seeing as this is where R:R is calculated and when stops are moved to BE), what percentage of your trade to you take profit with?
- #234
- Jul 16, 2009 9:20pm Jul 16, 2009 9:20pm
As luck would have it, I was too busy reading here and forgot to set my limit order... and price just shot up. Oh well, at least I'm learning.
I know Dra shot for a R:R of 1:1.5 on his trades. Where are your targets on this trade?
I'm seeing the area of 1.7837- 1.7850 as pretty strong potential R if price makes it up that far. This would be just shy of 68.2 ret of the move down.
7837 twice acted as firm R recently, and is very close to 7850 which would be like the "bottom of the bucket" in Billy Ray Valentine's "No Brainer" thread (which...
With regard to your queries. I have not set my TP, but .7750 would be what I am looking at. Should price soar past strongly, then I would look to close trail my trade at the next low.
1.7837 area looks like a good resistance area like you've mentioned, but nowadays I like to let my trades run at b/e or trailing stops (since I am trading alot lesser) with no particular target in mind.
- #235
- Jul 16, 2009 9:57pm Jul 16, 2009 9:57pm
Actually, I am at work now with no access to my charts. It's nice to hear price shot up.
With regard to your queries. I have not set my TP, but .7750 would be what I am looking at. Should price soar past strongly, then I would look to close trail my trade at the next low.
1.7837 area looks like a good resistance area like you've mentioned, but nowadays I like to let my trades run at b/e or trailing stops (since I am trading alot lesser) with no particular target in mind.
I still have to fight myself with stops. I can still get emotional and trail them too tightly.
[quote=finswin56;2880265]
Hi Sorry about that. Maybe I should change my colours.
The second confluence is at 1.410 & 2.410.
That comment is on the chart. Which one is cheaper? Which one will offer the minimum risk.
I trade 1 mini lot only. If I traded 2 you would know the answer. Now if I traded 3 - I would take profit for 2 lots at 61.8% and 1 at 78.6%.
Get the entries and stops down to the pat, the rest will look after itself. All you have to do is:
1. Spot an ABCD on the 240 Mins
2. Find confluence through the last ABCD above or below the trendline.
Post some charts and I will help you, but you have to post first... Roll your sleeves and demo it. The results will answer all your questions.
Chart 2:
I definitely see the first confluence, but I don't see where the 2nd confluence comes from.
Hi Sorry about that. Maybe I should change my colours.
The second confluence is at 1.410 & 2.410.
If you are setting this trade up, how do you decide which confluence to use since your decisions need to be made ahead of time?
That comment is on the chart. Which one is cheaper? Which one will offer the minimum risk.
Charts 3 & 4 are easy to understand as well. I do have a question though.
Since Profit 1 is the most important (seeing as this is where R:R is calculated and when stops are moved to BE), what percentage of your trade to you take profit with?
I trade 1 mini lot only. If I traded 2 you would know the answer. Now if I traded 3 - I would take profit for 2 lots at 61.8% and 1 at 78.6%.
Get the entries and stops down to the pat, the rest will look after itself. All you have to do is:
1. Spot an ABCD on the 240 Mins
2. Find confluence through the last ABCD above or below the trendline.
Post some charts and I will help you, but you have to post first...
Roll your sleeves and demo it. The results will answer all your questions. AFTAB
Time Will Tell & Price Will Show
- #239
- Edited 3:51am Jul 17, 2009 3:25am | Edited 3:51am
sequel to this post
http://www.forexfactory.com/showpost...&postcount=224
Hope some made money!
I missed it as i was sleeptin then
EARAUD is a setup i have been tracking too, if u check ur monthly and do ABCD analysis u will know that this pair is about to give over 3000pips but might take some time.
i am looking for entry as my platform hasnt given CF yet
Good call!
In my folder for this week - the maximum trades are in the missed folder as against the won and lost folder.
AFTAB
Time Will Tell & Price Will Show
- #240
- Edited 4:22am Jul 17, 2009 4:20am | Edited 4:22am
A quick update.
You trade with your opinion and at your risk.
PS: If price goes over C, this does not invalidate the ABCD, it only changes the pivots. Hopefully it will not.
All the charts are under one post.
Note: Notice how the ABCD changed from the second last chart.
AFTAB
Time Will Tell & Price Will Show