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The System II (Yes with irony)

  • #6,161
  • Sep 21, 2009 3:53am Sep 21, 2009 3:53am
Quoting elizo
For what it worths...

Maybe I am too early here, but I am riding the bullish bus. I entered at 58 after breaking what a I call a mini FCR, but inside boundaries and after making a HL. My rationale is that market will go to the upper boundary, then will eventually come back (I could get out at BE if this movement is sharp and strong, or get out at minus a few pips, but using WHAT...IF I could even ride the short if this is a strong one and consolidation has been decent) or break on the upside, in which case I am in the driver sit.

Any comments?...
very good entry elizo, I'm in that long as well 'cos most recent FCR @ 1.46546 broken to upside
  • #6,162
  • Sep 21, 2009 3:58am Sep 21, 2009 3:58am
Quoting moneda
Elizo,

I hope it works for you but let me expand on your bus analogy..... The bus has not left the station yet so we do not know where it is heading and as far as being on the driver's seat, I think we are more like passenger going for a ride, hopefully a long one in the right direction.
Thanks for your view, Moneda. Actually, I didn't like the way it was rejected as 73. I am out at +7.3 pips. Maybe the mistake has been to get out so quickly, but I stick to my plan: if it doesn't break the upper boundary, I will be out.

I keep on learning...
  • #6,163
  • Sep 21, 2009 3:59am Sep 21, 2009 3:59am
Quoting DareXau
very good entry elizo, I'm in that long as well 'cos most recent FCR @ 1.46546 broken to upside
Good day, my friend
Nice to read from you, again......
always missing you on this thread
  • #6,164
  • Sep 21, 2009 4:01am Sep 21, 2009 4:01am
Quoting DareXau
very good entry elizo, I'm in that long as well 'cos most recent FCR @ 1.46546 broken to upside
Czesc, Darek

Out now, I could keep it a little bit more but this was the plan I drew for this trade so... sticking to it.
  • #6,165
  • Sep 21, 2009 4:03am Sep 21, 2009 4:03am
Quoting gevellber02
hay, thx
i'l be glad to reed your opinion.......
To have a valid 123 setup, you gotta have a swing up (in your case), a retrace, and after it, price should break the high of the swing, and that is what triggers your entry, but here... you see price cannot bridge through this swing high, and instead, it broke the low of the retrace, so.....

A litle bit of range period, by now...
  • #6,166
  • Sep 21, 2009 4:07am Sep 21, 2009 4:07am
Quoting elizo
Thanks for your view, Moneda. Actually, I didn't like the way it was rejected as 73. I am out at +7.3 pips. Maybe the mistake has been to get out so quickly, but I stick to my plan: if it doesn't break the upper boundary, I will be out.

I keep on learning...
Elizo,

Are we not all learning?.... No hurry to go long here atm... the HH was established after the pullback now ranging period so what is the hurry? If it breaks 73 then I would enter... If it breaks the LL @38 and continues down then I would enter there... let the market drive the bus...
Unus pro omnibus, omnes pro uno
  • #6,167
  • Sep 21, 2009 4:18am Sep 21, 2009 4:18am
Quoting moneda
Elizo,

Are we not all learning?.... No hurry to go long here atm... the HH was established after the pullback now ranging period so what is the hurry? If it breaks 73 then I would enter... If it breaks the LL @38 and continues down then I would enter there... let the market drive the bus...
U R a wise dude Moneda.
  • #6,168
  • Sep 21, 2009 4:30am Sep 21, 2009 4:30am
Quoting elizo
Czesc, Darek
Out now, I could keep it a little bit more but this was the plan I drew for this trade so... sticking to it.
Czesc,
... there always will be another entry, the market is not going anywhere ...
pips in your pocket are yours and is good to collect them without hesitation, sticking to the plan is most important.
By the way, I'm still in that trade ...
  • #6,169
  • Sep 21, 2009 4:35am Sep 21, 2009 4:35am
Quoting jplo
Good day, my friend
Nice to read from you, again......
always missing you on this thread
G'day Jaco,
Yes, I'm back after having a week off ... refreshed and relaxed, ready for "piping"
  • #6,170
  • Sep 21, 2009 4:37am Sep 21, 2009 4:37am
I am very interested in this, please carry on.
  • #6,171
  • Sep 21, 2009 4:47am Sep 21, 2009 4:47am
Quoting jplo
To have a valid 123 setup, you gotta have a swing up (in your case), a retrace, and after it, price should break the high of the swing, and that is what triggers your entry, but here... you see price cannot bridge through this swing high, and instead, it broke the low of the retrace, so.....

A litle bit of range period, by now...
hay
123 is not a continuation pattern, it is reversal pattern. file:///C:/Documents%20and%20Settings/user/My%20Documents/%D7%A2%D7%9E%D7%99%D7%97%D7%99/TheLawOfCharts_freepdfebook_vsjul07.pdf
ab is a swing and it create 1. bc is the retries and create point 2.
cd is attempt and failure to break 1 and it create 3. (weakness).
so from here a break of 2 will lead me to short
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it's a huge gap tony, a huge gap.
  • #6,172
  • Sep 21, 2009 4:53am Sep 21, 2009 4:53am
Quoting gevellber02
hay
123 is not a continuation pattern, it is reversal pattern. file:///C:/Documents%20and%20Settings/user/My%20Documents/%D7%A2%D7%9E%D7%99%D7%97%D7%99/TheLawOfCharts_freepdfebook_vsjul07.pdf
ab is a swing and it create 1. bc is the retries and create point 2.
cd is attempt and failure to break 1 and it create 3. (weakness).
so from here a break of 2 will lead me to short

I've only just read the thread - but if yout read this as a 123 as you describe it - the retracement is way more than 50% which suggests weakn effect on the short side IMHO.
  • #6,173
  • Sep 21, 2009 4:55am Sep 21, 2009 4:55am
Twiddles thumbs in the mean time
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  • #6,174
  • Sep 21, 2009 4:56am Sep 21, 2009 4:56am
People...

Can we go long on the break of fractal at 1,4658???? Can I consider this like a most recent price action? Or I have to llok at brackets still???
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  • #6,175
  • Sep 21, 2009 4:56am Sep 21, 2009 4:56am
hi guys,
i don't know whats the problem with FF it takes forever to refresh a page, it took me 10min to go through 3pages and skip through all your post..
I love the participation.. it only makes us grow.. and most almost all of you came up with the right answers and great comments.. its awsome..
the answer there is:
yes it is a fcr.. but its not really a reversal.. I hope it makes sense..
the next part the answer is a Big NOOOOOOO.. until we see some rangetime and trading it off the bracket breakout (BB)..

my goal is to show you guys in live realtime to which fcr's to not take and reduce the obvious high risk feakouts that i don't take..
I can not put this in on post and explaine it but i can show in realtime as we go forward..

nice job everyone.. i love the cohesiveness here..
  • #6,176
  • Sep 21, 2009 5:03am Sep 21, 2009 5:03am
Quoting fxachilies
hi guys,
i don't know whats the problem with FF it takes forever to refresh a page, it took me 10min to go through 3pages and skip through all your post..
I love the participation.. it only makes us grow.. and most almost all of you came up with the right answers and great comments.. its awsome..
the answer there is:
yes it is a fcr.. but its not really a reversal.. I hope it makes sense..
the next part the answer is a Big NOOOOOOO.....
Thanks,,,,, So if I right understand You - I have not to trade right now, even if market will break the fractal inside brakets at 4658?? Not trade now? Right?
  • #6,177
  • Sep 21, 2009 5:04am Sep 21, 2009 5:04am
FX,

FF not a problem on my end. Not something wrong with your internet connection?
Survive and Preserve
  • #6,178
  • Sep 21, 2009 5:08am Sep 21, 2009 5:08am
Quoting gevellber02
hay
123 is not a continuation pattern, it is reversal pattern. file:///C:/Documents%20and%20Settings/user/My%20Documents/%D7%A2%D7%9E%D7%99%D7%97%D7%99/TheLawOfCharts_freepdfebook_vsjul07.pdf
ab is a swing and it create 1. bc is the retries and create point 2.
cd is attempt and failure to break 1 and it create 3. (weakness).
so from here a break of 2 will lead me to short
Gevellber02,

Jplo is correct in his definition of the 1-2-3 pattern according to this thread.... it can get confusing at times ... try to read our thread and learn the language... by the way FCR is a term that fxachillies created it means Fxachillies Crazy Reversal.... do not try to find a PDF for it...

Good luck
Unus pro omnibus, omnes pro uno
  • #6,179
  • Sep 21, 2009 5:09am Sep 21, 2009 5:09am
Quoting gevellber02
hay
123 is not a continuation pattern, it is reversal pattern.
ab is a swing and it create 1. bc is the retries and create point 2.
cd is attempt and failure to break 1 and it create 3. (weakness).
so from here a break of 2 will lead me to short
Let me ask you a question gevellber,
Have you read the previous posts where many people explain why did not take that same FCR?
Those are the reasoning processes about that FCR...
Of course you have 1 and 2, and 3 is a 123 setup faliure, but you still have a lower low so close....

Only trying to help you...
  • #6,180
  • Sep 21, 2009 5:12am Sep 21, 2009 5:12am
Quoting DareXau
G'day Jaco,
Yes, I'm back after having a week off ... refreshed and relaxed, ready for "piping"
Hey dare

Welcome back, we missed you.
Survive and Preserve
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