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  • #6,161
  • Oct 7, 2009 4:33pm Oct 7, 2009 4:33pm
Inside bar on EUR/USD. Taking a breather before going north again? Question is, will this IB be considered as a good Price action in this level?

IF, IF I am to enter the trade at the break of the top of the IB (1.4740), will it be considered too close to the RESISTANCE (Swing high at 1.4841)? And should wait for price to at least close above this swing high first before considering any entry for this pair at the moment?

Thanks
Sean
Attached Image (click to enlarge)
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Discipline is PRIMARY, Method is Secondary.....
  • #6,162
  • Oct 7, 2009 4:36pm Oct 7, 2009 4:36pm
Quoting Dabestone
Inside bar on EUR/USD. Taking a breather before going north again? Question is, will this IB be considered as a good Price action in this level?
Tell me what you see when you look at the BOSS
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,163
  • Oct 7, 2009 5:21pm Oct 7, 2009 5:21pm
There are a lot of way to draw demand/supply/support/resistance trendlines. I usually put them on and see if price reacts there. Then we get to the one that I call the last line in the sand ...
Confused? Take a look at the monthly (Big Boss) chart.
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  • #6,164
  • Oct 7, 2009 5:32pm Oct 7, 2009 5:32pm
Quoting elitejets
There are a lot of way to draw demand/supply/support/resistance trendlines. I usually put them on and see if price reacts there. Then we get to the one that I call the last line in the sand ...
Confused? Take a look at the monthly (Big Boss) chart.
Thanks, Nicola. What you have drawn is a Trend Line.

A DSRI DEMAND Line is totally different and drawn differently and tells us different things.

Don't get me wrong, the TL you have drawn is also VERY useful.

Not meaning to pull you up or tan your back side - just to point out not to confuse TLs with DSRI Demand & Support Lines.

Merci beaucoup!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,165
  • Oct 7, 2009 6:15pm Oct 7, 2009 6:15pm
Here's what I see on the BOSS HOG!
Attached Image (click to enlarge)
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  • #6,166
  • Oct 7, 2009 6:28pm Oct 7, 2009 6:28pm
This guy is trading M1 and is asking for help - Any volunteers?



Sep 2, 2009 4:59am
Wakayama
Member
Member Since Feb 2009
45 Posts

http://cdn.forexfactory.com/images/icons/icon1.gif unlucky day
hello guys

I did a trade today, it seems everything's ok and price found a support at 1TF and 5TF ribbon, but still a failde trade. Why? Can you gime some comments about it?

http://cdn.forexfactory.com/attachme...1&d=1251892704
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,167
  • Oct 7, 2009 6:46pm Oct 7, 2009 6:46pm
Are you kidding - tell him to donate to charity instead.
  • #6,168
  • Oct 7, 2009 7:12pm Oct 7, 2009 7:12pm
Quoting strat
Thank you for your very inspiring post.

“”Studying charts, this show me a gain of at least 1.000 pips almost every month in the pair I trade, with little drawdown. Maybe this will cause a big laugh to Strat, but is a good improvement for me, for I am very grateful.””

[font=Arial]Laugh? No way my friend. This gives me enormous satisfaction and pleasure far beyond what pips can give me, to know that, in some small way, I have been able to help someone improve their trading. Thank...
Strat:
Tks. a lot fot taking your time to look and analyze the chart.

You are right. Hull lags, stochastics dont fix his cross until bar close (lags) sometimes many bars behind, and zig zag only show tops an bottoms way late (this zig-zag also draw tendline ). Dinapoli targets is the better (better?) coz show support and resistance levels.

As I stated before, long time ago I realized that indies are not the one that provide me success in my trading, but the knowledge of the pair (I have looked at it so many hours, days, months...!!!... that knowledge is almost subconscious...). They mostly provides me mental confort. I have the indicatoritis disease.

Regret their lagging, I notice that working together yields profit. But I am not here to be "just profitable". I am here to learn how to be most profitable and not to die in the attempt.

If I have to delete them all to increase my learning, I will !!...But my next trade will be with my tooths squeezed.
  • #6,169
  • Oct 7, 2009 7:37pm Oct 7, 2009 7:37pm
Quoting alter
It looks I was stopped out on CADJPY. It was nice BEOB with the trend so Im not very happy.
alter
When you took the trade;

1- Boss was up, Daily was sideways until either 78.51 or 90.30 is breached and immediate trend was down.

2- Do you see any major SR around 84 where your BEOB emerged. I don't.

3- I have an SR line at 82.50 as well as a DSRI line passing close the same level.

Based on above facts, lessons are:

1- Don't forget to check Boss.
2- Place your SR and DSRI lines (SR is more important) in correct levels.
3- Don't sell into support (and of course vice versa).
4- Do not trade every PA. It should be supported by SR, DSRI and trends.

I assure you that you'll be happy in your next trade if you have already read every post in this thread and trade accordingly.
  • #6,170
  • Oct 7, 2009 7:43pm Oct 7, 2009 7:43pm
Quoting Dabestone
Alter, you had a Short position got stopped out? One just happened to me ....

If this current candle closes as a beob, I'm looking to re-enter the market again. Now, waiting aside for it to show me the path
Wrong Path.
  • #6,171
  • Oct 7, 2009 8:11pm Oct 7, 2009 8:11pm
Quoting mstandifer
141.06 is a strong monthly support line.

3. The light blue trend line shows only a hundred or so pips to the upside.

Could I take that buy trade for a hundred pips or so? I think so.
Will I? No.

I'm horrible at picking tops and bottoms (which this might very well be given the strong monthly support) but I think that's going to be dependent on those currency's fundamentals and perhaps seasonal trend changes. However, right now it's all I can do to focus on PASR so I'm going to pass.

-m
Firstly, that light blue trendline you have drawn has no meaning, IMO, because you cannot draw it just from ANY BAR.

Secondly, GBPJPY is consisted of GBPUSD and USDJPY. Now look at both pairs and see their trend direction. Do they whisper something to you?

Thirdly, 141 is a good major SR level, I agree.

When you trade crosses, don't forget to check the related pairs.

Now the question is: would you like to try to pick the bottom or wait for 141 broken and tested?
  • #6,172
  • Oct 7, 2009 8:18pm Oct 7, 2009 8:18pm
Quoting strat
Tell me what you see when you look at the BOSS
I see Dr. Joe. I have been seeing him on Worker, too, since May 09.
  • #6,173
  • Oct 7, 2009 8:38pm Oct 7, 2009 8:38pm
Quoting elitejets
There are a lot of way to draw demand/supply/support/resistance trendlines. I usually put them on and see if price reacts there. Then we get to the one that I call the last line in the sand ...
Confused? Take a look at the monthly (Big Boss) chart.
I hope the following two charts help and further explain what Strat said. Just look at 85 level and how beautiful it is working (since 1998).
Attached Image(s) (click to enlarge)
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  • #6,174
  • Oct 7, 2009 8:41pm Oct 7, 2009 8:41pm
My trend line segment was based off a much larger older trend line. I left out the larger because the origin couldn't be seen on the chart. Old trend lines have much relevance but I agree that without a reference point that one may have been confusing.
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  • #6,175
  • Oct 7, 2009 8:52pm Oct 7, 2009 8:52pm
And this is what I see on Worker, a very clean chart. All you need is a few SR lines and a DSRI to trade profitably. Just be patient and wait for PA.
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  • #6,176
  • Oct 7, 2009 10:49pm Oct 7, 2009 10:49pm
Hi Strat,

I am Alan. I have asked to be enrolled into the path of learning not too far back. Having come across this post, I would like to give it a try.

The last candle look like a hammer to me because

1. It happen during the downtrend.
2. It has a long tail and small upper body


So my decision will be to place a buy order a few pips away from the top of the hammer or the 20(missing in the graph) if the 20 is near to the top of the hammer cos i do not want to buy into the 20 to be safe. SL will be below the trendline or the 20 and my position size will be 2% of my account size. For TP target, since i am a beginner, i would aim for the first Resistance line.

I find it a valid hammer is because the hammer form off the trend line and at the SR line and also down a downtrend.

To confirm if its a swing low, i would need to wait for the next day candle to form.

Let me know your thoughts on what i have written.

Thanks.
  • #6,177
  • Oct 8, 2009 4:50am Oct 8, 2009 4:50am
Quoting strat
This guy is trading M1 and is asking for help - Any volunteers?



Sep 2, 2009 4:59am
Wakayama
Member
Member Since Feb 2009
45 Posts

http://cdn.forexfactory.com/images/icons/icon1.gif unlucky day
hello guys

I did a trade today, it seems everything's ok and price found a support at 1TF and 5TF ribbon, but still a failde trade. Why? Can you gime some comments about it?

http://cdn.forexfactory.com/attachme...1&d=1251892704...
Hi Strat

I do not think this guy needs much help, at least from the art point of view. His chart looks great as a composition and colour combination, good for an art gallery. It will pass as a good abstract. What do you think?

I see that you experimenting with colours too, did you find one that you like yet?



Jideck and Wife
  • #6,178
  • Oct 8, 2009 7:09am Oct 8, 2009 7:09am
Quoting mstandifer
Where is it going to go tomorrow? I suspect it will touch the light blue trend line and close there or form another pin bar in the other direction but it could also choose that day to plummet 8000 pips thru monthly support.

Could I take that buy trade for a hundred pips or so? I think so.
Will I? No.

-m
The saying goes, even a blind hog can find an acorn. Meaning, even the most inept can get lucky. There's my acorn for the month.

For the record, I did not take that trade for the reasons previously mentioned.

It has taken significant discipline for me to refuse trades like this even though I was fairly certain of an intraday target. Reason being, this was a counter trend 'B' trade. Counter trend 'B' trades have burned me more than any other trade and I wanted to share the cautionary tale for those who might be in a similar situation.

Where will it finish the day? I have no idea...I ate my acorn when it grazed the trend line.

-m
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  • #6,179
  • Oct 8, 2009 9:21am Oct 8, 2009 9:21am
Here is an example about needing to be mentally tough for this business.

This guy sent me this PM - he didn't even have the balls to post in the thread!

samer960 baby,

I was not going to be drawn into your stupid, pathetic little world but your reference to being one of Jacko's group changed that.

You only made 200 pips because Jacko tells his group his entries and exits - that is NOT trading - anyone can make pips by COPYING a successful trader!

Jacko HAS to be nice to you - you paid him $750 to join his group! He wants you to keep paying him $750 for ever and ever.

This thread is FREE and even if I was a paid service, it would not change my style of teaching forex. This business is for DOGS not whimps!

Now run along to Mummy, get your nappy changed and your warm bottle of milk!

Oct 8, 2009 1:59am (5 hr ago)
samer960
Member
Member Since Dec 2008
230 Posts

http://cdn.forexfactory.com/images/icons/icon1.gif sadiq
hi start
u try to intimidate people , is it a complex or something ? did u open this thread to show your muscles or to help traders .
make an effort to be more modest man . u might be successful and u know something about forex but others might know even more than u and are even more successful visiting ur thread do not mean they are ignorant and this do not give u the right to make fun of them and intimidate them .
a question might be stupid for u but for the one asking might be the first step in the right way .
when i asked about euro and u made a laugh at me i short it and made 200 pip , or 200 pip for u is nothing or we should always look 1000 pip with 0.1 lot !! u handed me the book the other way round that day . as for reading books i have a PHD and i dont think u have one . otherwise u would be more modest
i m one of jacko group and i have never ever seen him disrespecting anyone and make fun of him or show him he is an ignorant . or asking him to donate to charity as ur alexandra did .


have a nice day
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,180
  • Oct 8, 2009 9:28am Oct 8, 2009 9:28am
Quoting strat
Time Frame Selection...
I've read up to this post and had to pause here because this turned on another light for me. More solid gold.

It's probably best that, back in October of last year when I started forex, I was not aware of how much I was going to have to learn.

Now, a year later, I can't say how glad I am that there is still so much to learn. That thought allows me to know how much better I can become. I'm very much looking forward to the knowledge shared in this thread as I continue to catch up. Thanks again, Strat, for being willing to share the wealth.

-m
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