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Strat's Long Term Stress Free Trading

  • #6,561
  • Oct 19, 2009 12:41pm Oct 19, 2009 12:41pm
My friend the wick is to large for shooting star..little to none is what we are looking for
lower wick could = buying

http://images.google.co.uk/imgres?im...a%3DX%26um%3D1
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,562
  • Oct 19, 2009 12:44pm Oct 19, 2009 12:44pm
Thanks Bones. I got it.
  • #6,563
  • Oct 19, 2009 12:47pm Oct 19, 2009 12:47pm
I think may be this lower wick was ok on cable for example ,also opposite to color to trend = better
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd w1 19oct no6.gif Size: 13 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,564
  • Oct 19, 2009 12:51pm Oct 19, 2009 12:51pm
Quoting Bones
My friend the wick is to large for shooting star..little to none is what we are looking for
lower wick could = buying

http://images.google.co.uk/imgres?im...a%3DX%26um%3D1

Do small details like that really matter? The "shooting star" is clearly showing that sellers were stronger than buyers even though we got a small wick at the bottom.

We are trying to see beyond the candles right? I think people are a bit too fussy with perfect candle formations. As long as the candle is showing us the market sentiment then the location of it should be more important than having a perfect form.
  • #6,565
  • Oct 19, 2009 12:56pm Oct 19, 2009 12:56pm
Quoting Naws
Do small details like that really matter? The "shooting star" is clearly showing that sellers were stronger than buyers even though we got a small wick at the bottom.

We are trying to see beyond the candles right? I think people are a bit too fussy with perfect candle formations. As long as the candle is showing us the market sentiment then the location of it should be more important than having a perfect form.
EXACTLY! Thank you, young Mr Naws!

Unlike J16 and their followers we are not restricted by perfect candle form and proportions. All we want from the candle is its message, and the part it plays in the footprint.

Doing good, Naws.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,566
  • Edited 1:58pm Oct 19, 2009 12:58pm | Edited 1:58pm
em well yes it does matter if gold reverses here ,Is not knowing the strength of reversal impotant

Eur Gbp 50% must go for confirmation..may be couple of hundred down,but monthly may hold the bears off next week based on monthly,monthly key to trend at this point.

It is not a shooting star period,may be im speaking out of turn again
Attached Image (click to enlarge)
Click to Enlarge Name: eur gbp w1 19oct no7.gif Size: 15 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,567
  • Oct 19, 2009 1:00pm Oct 19, 2009 1:00pm
Ok fine

Quoting strat
EXACTLY! Thank you, young Mr Naws!

Unlike J16 and their followers we are not restricted by perfect candle form and proportions. All we want from the candle is its message, and the part it plays in the footprint.

Doing good, Naws.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,568
  • Oct 19, 2009 1:01pm Oct 19, 2009 1:01pm
Quoting cliftonarms
Just a little note of introduction, on post 1920 of this forum now and only 4000 to go. Although I am not flash reading information overload is taking its toll and my brain is full to the point where the info feels like its seeping out of my ears....
Once you post a positive or constructive post you are no longer deemed a "lurker", so welcome to The Path and glad you can join us.

cliftonarms -sounds like a pub in Reading
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,569
  • Oct 19, 2009 1:03pm Oct 19, 2009 1:03pm
carry on thinking it is
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,570
  • Oct 19, 2009 1:05pm Oct 19, 2009 1:05pm
Quoting hcristea
Hello Strat,
thank you for your input.

On the weekly chart, the last week candle is a small shooting star. It might be profit taking time on gold. I'm gonna wait to see if the price goes down to the 20 ema. For now, I'm looking for trades in the direction of the trend so I will wait for a pullback.

Attachment



I took your advice and draw DSRI on the daily chart. I hope I got this right
Also I put a Fibonacci retracements on the last swing (AB) and there are a few interesting spots on the chart.

Attachment

First...
I took your advice and draw DSRI on the daily chart. I hope I got this right

Regrettably, no, my friend, you have drawn a DEMAND DSRI.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,571
  • Oct 19, 2009 1:12pm Oct 19, 2009 1:12pm
Quoting mstandifer
I certainly don't intend to convey that I have trading whipped!...
Very good. We are all agreed. The PLAN is KEY to our success.

So summarizing my earlier detailed post on THE PLAN:

PLAN the trade

Believe the PLAN

Trust the PLAN

Do not interfere with the PLAN

If you can’t do this, re-write your PLAN and keep re-writing until you can.

If you find you can’t – you don’t have a trade.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,572
  • Oct 19, 2009 1:16pm Oct 19, 2009 1:16pm
Quoting Kathryn
lots of info on this thread! i'm interested to read more!
I know its getting pretty long now, but if you are really serious to learn forex trading, it will be well worth your while to start from Post #1, Page 1, and read and UNDERSTAND each post as those before you have done.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,573
  • Oct 19, 2009 1:29pm Oct 19, 2009 1:29pm
Quoting Bones
Well I never meant the monthly macd s going to give shorts a problem ,just monthly price.I'm sure I read in the index that you use some cycle indicators ,I must be wrong.Cycle I think has turned down on the weekly.Is it Ronald MacDonald because of the color.Also in the index you refer to J16.He also uses MACD for divergence but his is plain black and white so I suppose thats ok.
Please see my PM for explanation.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,574
  • Oct 19, 2009 1:33pm Oct 19, 2009 1:33pm
Quoting Bones
em well yes it does matter if gold reverses here ,Is not knowing the strength of reversal,

Eur Gbp 50% must go for confirmation..may be couple of hundred down,but monthly may hold the bears off next week based on monthly,monthly key to trend at this point.

It is not a shooting star period,may be im speaking out of turn again
We are in 100% agreement in the message from that BEOB
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,575
  • Oct 19, 2009 1:35pm Oct 19, 2009 1:35pm
[.Also in the index you refer to J16.He also uses MACD for divergence but his is plain black and white so I suppose thats ok.[/quote]

Bones, thanks for your contribution. Apologies Strat if this is taking us into the realms of indicators temporarily.
Bones, firstly, you will always be the doctor on Startrek.
Secondly, i've been experimenting with MACD as per J16, for the last month or so, and if i'm honest, i can find no benefit. Sure, it's used as a means of confluence, probably the last to confirm a trade.
Can i ask,after your studies, have you found it to be consistently useful ?
Personally, i find it an additional distraction, but hey, lots of the J16 ers swear by it, so perhaps i'm missing something. It didn't stay long on my charts.
Thanks, gotta go, Klingons on the Starboard Bow!

Golfer
  • #6,576
  • Oct 19, 2009 1:48pm Oct 19, 2009 1:48pm
AUDJPY Re- test or BREAK - OUT?
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 28 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,577
  • Oct 19, 2009 2:00pm Oct 19, 2009 2:00pm
Quoting golfer27
[.Also in the index you refer to J16.He also uses MACD for divergence but his is plain black and white so I suppose thats ok.


Bones, thanks for your contribution. Apologies Strat if this is taking us into the realms of indicators temporarily.
Bones, firstly, you will always be the doctor on Startrek.
Secondly, i've been experimenting with MACD as per J16, for the last month or so, and if i'm honest, i can find no benefit. Sure, it's used as a means of confluence, probably the last to confirm a trade.
Can i ask,after your studies, have you found it to be consistently useful ?
Personally, i find it an additional distraction, but hey, lots of the J16 ers swear by it, so perhaps i'm missing something. It didn't stay long on my charts.
Thanks, gotta go, Klingons on the Starboard Bow!

Golfer[/quote]

You still don't need it tho as the MAs will show you the same thing as Price Action.

I used to use it prior to this thread but found it of little use other than for divergence and convergence.

Just plot a 12 and 26 MA on the chart and look at the patterns of the gaps between them - same as the histogram roughly, so another space at the base of your chart wasted and causing distraction from Price Action IMO!!

Individual candles can help with the final decision in direction but I have found better results concentrating on the lower lows, higher highs etc, TL breaks and breakout tests; combined with panning out a little on the worker chart.

It allows you to see the whole picture and not just that 'final candle reversal pattern' that many new traders hang their coats on (me included). By panning out and knowing the boss and big boss levels as Blackeagle recommends, you can wait until the PA reaches one of those key levels and only zoom in when the price reaches that 'zone'.

Grim
Trade less and become more profitable!
  • #6,578
  • Oct 19, 2009 2:01pm Oct 19, 2009 2:01pm
I will be short and sweet as I realize I have been out of turn within this room,
It works for me only as confluence and with practise can enhance ,bigger the divergence the better ,price such as Japanese candles are actually my thing...I will try to actually read thread


Quoting golfer27
[.Also in the index you refer to J16.He also uses MACD for divergence but his is plain black and white so I suppose thats ok.
Bones, thanks for your contribution. Apologies Strat if this is taking us into the realms of indicators temporarily.
Bones, ...

Golfer[/quote]
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,579
  • Oct 19, 2009 2:08pm Oct 19, 2009 2:08pm
Quoting Bones
I will be short and sweet as I realize I have been out of turn within this room,
It works for me only as confluence ,price such as Japanese candles are actually my thing...I will try to actually read thread




Bones, thanks for your contribution. Apologies Strat if this is taking us into the realms of indicators temporarily.
Bones, ...

Golfer
[/quote]

Hi Tony
i see you are into the "FRAY " mate.....
I think just as Hussin didnt like anything less than the 4 Hr Tf,....Strat doesnt like indicators,and i might add nor do you use them for a decision..
But i think you will enjoy this thread and Strat..
take care

baz
  • #6,580
  • Oct 19, 2009 2:15pm Oct 19, 2009 2:15pm
Yes Baz and even TMAC had to keep me in check there...enough said about it.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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