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The System II (Yes with irony)

  • #3,181
  • Jul 31, 2009 3:41am Jul 31, 2009 3:41am
Good morning everyone,

I´m short for this 1-2-3. Lets see....
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  • #3,182
  • Jul 31, 2009 3:50am Jul 31, 2009 3:50am
Quoting DareXau
Yes, of course only most recent is valid
Thanks for clarifying me...
  • #3,183
  • Edited 4:14am Jul 31, 2009 3:57am | Edited 4:14am
Quoting -jo-
Ok, then your trade was not based on fractal reversal, as far as I understand this thread. Maybe I am wrong, don't know, so it would be good if somebody else could clarify, because I am getting confused myself right now. But, on the other side, jplo, if those trades work for you, then go for it.
Let me show you what I saw...
By the way, I know it is a very risky entry as Dare pointed up...
And maybe it cannot be called a perfect fractal reversal due to the mini-fractal, but anyway, I saw a confluence between a previous big move, a resistence at 1.4100 and a mini-fractal broken.....
Anyway, not much clear
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  • #3,184
  • Jul 31, 2009 4:08am Jul 31, 2009 4:08am
As Dare always says...
Between brackets...
Long @ 1.4106
Short @ 1.4083
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  • #3,185
  • Jul 31, 2009 4:15am Jul 31, 2009 4:15am
hmmm, seems like price is stalling. closed with 2 pip profit and wait for
long at 4105 ...or maybe short reentry....
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  • #3,186
  • Jul 31, 2009 4:21am Jul 31, 2009 4:21am
Quoting julias
hmmm, seems like price is stalling. closed with 2 pip profit and wait for
long at 4105 ...or maybe short reentry....
I'm with you Julias...
Waiting mode....
In 10 minutes - KOF Economic Barometer --- CHF (very correlated to EUR)
  • #3,187
  • Jul 31, 2009 4:35am Jul 31, 2009 4:35am
... any entries on fractals is a little bit tricky and by nature is more advanced than typical 1-2-3 set-up,
it helps to go to the lower time-frame (1 min.) and look from that perspective, but ...
there is always some "buts" ... remember that 1 min. T/F has totally different speed than 5 min. T/F
and this can easily lead to misjudgments as well as false signals, so be very careful.
You have to weight the risk and accept the outcome.
  • #3,188
  • Edited 5:05am Jul 31, 2009 4:45am | Edited 5:05am
Jplo, I understand how you entered.

But, the way I understand fractal reversal is that you have to wait for the break of what I marked as ENTRY 1 or ENTRY 2 (of those highs), and enter there. Because if those highs are not broken, the down trend might have still resumed, making LL/LH (grey line).

Based on your entry (where you do not look for the break of the last fractal high (green entries); but for break of the last 2 lows), you would have a fill (possibly), because you base your entry on the lows, and not on the highs which have to be broken (in a down trend).

EDIT: After checking your picture again, I think we mean the same thing, you entered at what I marked as ENTRY 1 (break of last high), right? It is just confusing to me why you marked those lows (red circle), since they do not matter for the fractal reversal trade (what matters is only the break of ENTRY 1 or more conservative ENTRY 2). So forget this post...
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  • #3,189
  • Edited 5:36am Jul 31, 2009 5:25am | Edited 5:36am
Ok, I got you now...
Lower or higher swings...
But I'm totally confussed right now....
Many fractals that are being traded here, don't follow that rule...
I thought everytime a retrace or a swing ends, it makes a fractal and the break of that fractal, against the previous move is a valid entry....

@ Dare, could you clarify this concept to all of us who are a little bit confussed with it, please?

Picture number 3 case, happened this morning....
Green and red lines are both posible entries for these cases?
Pic 2, typical fakeout that happens very often
Pic 3, another fakeout that happened today early in the London session

Pic 1, is the trade I was talking about on Pic 3
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  • #3,190
  • Jul 31, 2009 5:25am Jul 31, 2009 5:25am
... I guess, we're all by now in the long trade @1.4104 level,
my previous short ended on break-even again,
by the way, one more note, my current long trade hasn't got profit target yet ...
  • #3,191
  • Edited 5:42am Jul 31, 2009 5:31am | Edited 5:42am
Quoting DareXau
... I guess, we're all by now in the long trade @1.4104 level,
my previous short ended on break-even again,
by the way, one more note, my current long trade hasn't got profit target yet ...
Hi everybody,

agree with your LONG trade @ 1.4105, still waiting for target profit;
nice to read you're long bcz I was becoming little confused du to the precedent scratch short trade
Hold on
  • #3,192
  • Jul 31, 2009 5:45am Jul 31, 2009 5:45am
Quoting jplo
Ok, I got you now...
Lower or higher swings...
But I'm totally confussed right now....
Many fractals that are being traded here, don't follow that rule...
I thought everytime a retrace or a swing ends, it makes a fractal and the break of that fractal, against the previous move is a valid entry....

@ Dare, could you clarify this concept to all of us who are a little bit confussed with it, please?

Picture number 3 case, happened this morning....
Green and red lines are both posible entries for these cases?
Pic 2, typical fakeout that happens very...
In my opinion your entry was valid fractal break (although risky) if you based your decision on the fractal I marked (which you are not showing in your Pic3). The highs on the left are not important.
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  • #3,193
  • Jul 31, 2009 5:55am Jul 31, 2009 5:55am
Ye ye ye got my 1st 21 pips profit with The System!!!
Thanks to all
Must be consistent now like big dogs here...
  • #3,194
  • Jul 31, 2009 5:55am Jul 31, 2009 5:55am
Quoting jplo
... could you clarify this concept to all of us who are a little bit confused with it, please?
... in my view, both entries are valid, it simply depends on trading approach and risk factor,
I went back to the yesterdays chart and found two excellent examples:
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  • #3,195
  • Jul 31, 2009 6:10am Jul 31, 2009 6:10am
This fractal stuff is quite confusing...

Did I mark them correctly on your chart?
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  • #3,196
  • Jul 31, 2009 6:44am Jul 31, 2009 6:44am
Quoting -jo-
This fractal stuff is quite confusing...
Did I mark them correctly on your chart?
... not really, maybe this picture shows it better, ... the support/resistance of the swings are the fractals ...
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  • #3,197
  • Jul 31, 2009 6:53am Jul 31, 2009 6:53am
Quoting DareXau
... not really, maybe this picture shows it better, ... the support/resistance of the swings are the fractals ...
You mean these bigger swings?
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  • #3,198
  • Jul 31, 2009 7:18am Jul 31, 2009 7:18am
Good morning,

I would suggest to newcomers to Feb's method/framework that you stick to identifying a the swing, waiting for the pullback, followed by continuation of the established swing. Always waiting for the close of the 5 min candle. Fractals reversal etc... is something that the more experienced traders are adding to Feb's thread looking for more action and profits. Learn the original approach until you have the confidence, skill and discretion to address a riskier twist. You can become a profitable trader with the basic setup.

Good luck to all
Unus pro omnibus, omnes pro uno
  • #3,199
  • Jul 31, 2009 7:44am Jul 31, 2009 7:44am
Quoting -jo-
This fractal stuff is quite confusing...
Searching back a little, I've found this Dare post that clarifies this matter...
There are also Julias and Fxachilies posts... I'm gonna take extra-work on this weekend.....
Take a look
Dare's ---- http://www.forexfactory.com/showpost...postcount=2893
Julias' ---- http://www.forexfactory.com/showpost...postcount=2893
  • #3,200
  • Jul 31, 2009 7:48am Jul 31, 2009 7:48am
Quoting moneda
Good morning,

I would suggest to newcomers to Feb's method/framework that you stick to identifying a the swing, waiting for the pullback, followed by continuation of the established swing. Always waiting for the close of the 5 min candle. Fractals reversal etc... is something that the more experienced traders are adding to Feb's thread looking for more action and profits. Learn the original approach until you have the confidence, skill and discretion to address a riskier twist. You can become a profitable trader with the basic setup.

Good luck...
I agree with you. Personally I only trade the 123 setup with occasionally a fractal reversal (on the 1min chart, but psst, don't tell anybody). But the question I have is there a standard, unified and defined way of entry on a fractal break? So basically when I say "I just traded a fractal break", is everybody going to think about the same entry technique?

My point is, that we should define what a fractal break is and how we enter, so that everybody will know right away what it meant. Right now, "my" definition and jplo's differ on that matter. So obviously, it is not obvious.
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