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Trading with Deadly Accuracy

  • #201
  • Nov 25, 2009 8:02am Nov 25, 2009 8:02am
Now I'm seeing steps everywhere... Here's E/U on 5M. How would you actually trade that? Buy-stop on top of the 3rd step?

Attached Image (click to enlarge)
Click to Enlarge Name: eu_steps.png Size: 12 KB
  • #202
  • Nov 25, 2009 8:43am Nov 25, 2009 8:43am
Quoting finswin56
Very interesting. How/why did you come up with those levels?

Used to be an engineer of sorts once upon a time. When i wanted to work something out quickly, a 'rule of thumb' would do. I dont expect its any different in the pits.

The levels are a third, a half, two thirds, three quarters, 80% and 90%.
  • #203
  • Nov 25, 2009 10:23am Nov 25, 2009 10:23am
Quoting pipimo88
Now I'm seeing steps everywhere... Here's E/U on 5M. How would you actually trade that? Buy-stop on top of the 3rd step?

Attachment

Steps seem to come in shapes and sizes.

I look for steps which are more tightly packed together and with more uniform candles inside each individual step.

I would take entry when the third step is forming in anticipation of a break. It gives you best entry with lower risk.
  • #204
  • Nov 25, 2009 10:36am Nov 25, 2009 10:36am
Hi WMD, man your work here is incredibly good! Many thanx for your insights.

I´m gonna take your offer (as a newbie) and post a chart to see if I got it right..

According to this chart, is 1.4995 an opportunity to buy the dips?? or just because 1.5050 got tested it lost its status?

Sorry about my English it is not my mother language.

All the best and Keep on the good work!
Attached Image
  • #205
  • Nov 25, 2009 10:53am Nov 25, 2009 10:53am
Quoting Rednose
Hi WMD, man your work here is incredibly good! Many thanx for your insights.

I´m gonna take your offer (as a newbie) and post a chart to see if I got it right..

According to this chart, is 1.4995 an opportunity to buy the dips?? or just because 1.5050 got tested it lost its status?

Sorry about my English it is not my mother language.

All the best and Keep on the good work!

Good to see your still around. I can't answer for wmd, and I'm not trying to. I do have a limit order setting on 1.5. It may only be good for a bounce or it may never get to it
  • #206
  • Nov 25, 2009 11:02am Nov 25, 2009 11:02am
Quoting knuckledrag
Good to see your still around. I can't answer for wmd, and I'm not trying to. I do have a limit order setting on 1.5. It may only be good for a bounce or it may never get to it
Hi Knuckledrag!!

Yes man I´m still here, I took some months off(trading) because my head was full of stuff and I wanted to put things together. Now I believe I found what I was looking for: simplicity. I realize it was showed me before but all that information overkill just didn´t let me see it...

May better times come.

(Off topic: My daughter is born!! I´m a proud daddy for the second time)

I asked about 1.4995 because it has not being tested...
  • #207
  • Nov 25, 2009 11:18am Nov 25, 2009 11:18am
Great thread wmd, please keep it up!

I took my first GU trade using what I hope was a wmd style entry on the 24th on the pull back to 1.6515 (top of the base formed on the 20th after the 200 pip drop with a strong subsequent rally). Managed to exit my last contract at the 1.6700 level which was incredible (for me).

Thanks again for showing us the light. I've never had the confidence to play the big swings until you kindly stepped in.

May the pips be with you....

Dave
  • #208
  • Nov 25, 2009 11:31am Nov 25, 2009 11:31am
Hi Sigma Trades,

>>buyin seen at basket rebalancing pt.. 146.20s

Your statement above caught my interest - are you referring to the rebalacing action that brokers/market makers must undertake to return to a net neutral position after a big move i.e. They end up net long in a big way after a powerful bear move and must find a way to offload this position?

Would be interested in hearing any views out there on rebalancing such as:

Where the rebalancing action typically starts - past s/r
How the market makers could engineer such a move (if they do)
What to look out for

Thanks

Dave
  • #209
  • Nov 25, 2009 12:31pm Nov 25, 2009 12:31pm
Quoting Rednose
Hi Knuckledrag!!

Yes man I´m still here, I took some months off(trading) because my head was full of stuff and I wanted to put things together. Now I believe I found what I was looking for: simplicity. I realize it was showed me before but all that information overkill just didn´t let me see it...

May better times come.

(Off topic: My daughter is born!! I´m a proud daddy for the second time)

I asked about 1.4995 because it has not being tested...
Congratulations----ITS A GIRL----
  • #210
  • Nov 25, 2009 12:46pm Nov 25, 2009 12:46pm
Quoting knuckledrag
Congratulations----ITS A GIRL----
YES!!!

Thank you!
  • #211
  • Edited 8:24pm Nov 25, 2009 3:09pm | Edited 8:24pm
Great thread, wmd!! Many thanks.

Thinking of this some more, 1.5000 is the right level to buy off.

Keep an eye out for short on EU 1.5275 area. Will see what market does when it gets there.

Possible short of untested resistance on UJ at 88.18 level. See attachment.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 111809-2.jpg Size: 64 KB
Click to Enlarge Name: 111809-3.jpg Size: 68 KB
  • #212
  • Nov 25, 2009 3:46pm Nov 25, 2009 3:46pm
Hi all, i have been watching this thread when i have time and i´m struggling to find the levels, so would like your opinion about this one, everybody and of course our master VMD...THANKS

Attached Image (click to enlarge)
Click to Enlarge Name: AU.jpg Size: 90 KB
  • #213
  • Nov 25, 2009 3:51pm Nov 25, 2009 3:51pm
Quoting Thenew
Hi all, i have been watching this thread when i have time and i´m struggling to find the levels, so would like your opinion about this one, everybody and of course our master VMD...THANKS

Attachment
The price is right at this level currently, in fact it seems that it retraced for 20pips or so from .9322 and no additional selling pressure I can observe at the moment. I don't think its much of a resistance anymore at least it seems to me.There is a much stronger level above, 0.9400 that might offer more significant resistance. Although with such strong uptrend, i'd be more confident trading off breakout and tested support of 0.9400 if good breakout occurs.
  • #214
  • Nov 25, 2009 5:35pm Nov 25, 2009 5:35pm
Saying Thanks to WMD, doesn't appear to be sufficient for the effort this gentleman has put into this thread.
As I follow the posts, the learning curve has become less of a mountain to climb. I have taken a very important point from WMD and that is to observe the higher time frames for guidance of what is actually happening.

Thanks WMD and all posters, thinking I will have to get more involved on this thread.

BTW, 1 month from today, Xmas day will be here for me or over for others in other parts of our universe.
Hoping Santa will bring me lots of pips..
  • #215
  • Nov 25, 2009 6:38pm Nov 25, 2009 6:38pm
Quoting darkness
Great thread, wmd!! Many thanks.

I think 1.5050 EU may offer a bounce whenever it comes back to the area, nice breakout of the level today. 1.50 level may also offer a bounce but that level has been abused quite a few times lately. I've got a buy limit at 1.5050.

Keep an eye out for short on EU 1.5275 area. Will see what market does when it gets there.

Possible short of untested resistance on UJ at 88.18 level. See attachment.

Nice post. 88.13 looks good. looking a little higher, breakout from conjestion was near 88.70 zone. so if you take the earlier entry, stops would need to be above there.
  • #216
  • Edited 7:08pm Nov 25, 2009 6:46pm | Edited 7:08pm
Quoting Thenew
Hi all, i have been watching this thread when i have time and i´m struggling to find the levels, so would like your opinion about this one, everybody
Attachment

Doesn't look to me like your having any trouble at all.

You nailed that one for 50 pips plus. Fantastic!

Next time you see one of those Skype me. Its worth getting out of bed for.
  • #217
  • Nov 25, 2009 7:08pm Nov 25, 2009 7:08pm
Thanks guys & now enough with the thanks already. I'm not saying i dont enjoy superstar status, just that it takes up unnecesary bandwidth at the end or beginning of each post. Dont worry, i won't leave you, and even if i did, it won't be long before you realise you dont need me. Theres so much talent here at ff.

I've taken more signals from posters on this thread then i've given out. I'm not going anywhere.

You can see how simple and powerful this method is. Not one trade has been posted to date which failed. Keep it up boys.
  • #218
  • Nov 25, 2009 7:54pm Nov 25, 2009 7:54pm
Quoting wmd
Nice post. 88.13 looks good. looking a little higher, breakout from conjestion was near 88.70 zone. so if you take the earlier entry, stops would need to be above there.
88.13- I see what you mean,very strong untested level. I overlooked it entirely.
  • #219
  • Edited 1:02am Nov 26, 2009 12:08am | Edited 1:02am
GBPCHF broke out of support and cluster area. According to the chart attached, I'm thinking since 1.66828 was immediately tested for resistance, then a safer trade would be to short 1.6740 level which it hasn't tested yet?
Attached Image (click to enlarge)
Click to Enlarge Name: 111809-4.jpg Size: 65 KB
  • #220
  • Nov 26, 2009 3:58am Nov 26, 2009 3:58am
Anyone else see this as a potential long. Untested support and trendline.

http://i5.photobucket.com/albums/y16...n/ej261109.gif
...20% method, 80% mindset...
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