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Trading with Deadly Accuracy

  • #221
  • Nov 26, 2009 4:20am Nov 26, 2009 4:20am
Quoting dbz
Anyone else see this as a potential long. Untested support and trendline.

http://i5.photobucket.com/albums/y16...n/ej261109.gif
nice one dbz. well spoted.

definately in the zone. draw a lower trendline using 4hr. you can see it got a nice clean bounce 130.43. ideal entry would be 30 pips lower at base of daily.

i've missed it now. we're up to 130.80. i'll look for entry if it goes back to the ltl again.
  • #222
  • Nov 26, 2009 4:37am Nov 26, 2009 4:37am
Quoting darkness
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?
16740 is heart of chop zone so should be good for a reaction. In the mean time theres an opportunity to go long approaching.
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  • #223
  • Nov 26, 2009 4:44am Nov 26, 2009 4:44am
gy in buy zone 143.20 - 142.50. we posted this level a few days ago.

ltl is taken from daily.
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  • #224
  • Nov 26, 2009 5:42am Nov 26, 2009 5:42am
Watched failure for about 6 attempts to break 5095, suggested a short at 5091 was a low risk entry for a short.
SL @ 5095 TP @ 5077
  • #225
  • Nov 26, 2009 6:11am Nov 26, 2009 6:11am
Also my thanks for starting this Thread, WMD. I have learned a lot like many here, especially more "secure" entries. This morning was a classic.

I marked the Support #3 as it was coming from quite a way back to the left - first in FireBrick blocks and to be replaced by Aqua/Blue support later on the same level and finally with Aqua this morning when I started trading. Excellent bounce for ±40 pips going UP and waiting fro the bounce off the 1.6693 level for +150 pips.

Forgive my belt and braces with EMA and Stochastics still, but I will get to where you are in the next few weeks.

I attach for your perusal and comment a screen-print with an indicator that draws the R/S-lines over 4 TFs. I will gladly share it with your approval, WMD. One thing you made clear is the fact that it is not always the extreme price from where the level should be drawn and that is therefore the only downfall of this indicator as it picks the extremes.

I am now also a follower and look forward to getting au fait with the methodology for less stressful entries.

Sincerely.
Attached Image (click to enlarge)
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Hercs
  • #226
  • Nov 26, 2009 6:45am Nov 26, 2009 6:45am
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.

Thanks VMD and Darkness for yours reply, i guess my problem is lack of confidence in my levels, that´s why i posted and will continue if you don´t mind... Nonthelless that trade nailed me 89 pips i bail at 92,28 cause i shaw that as potential demand zone...
  • #227
  • Nov 26, 2009 7:02am Nov 26, 2009 7:02am
More comments please...back to work come back later thanks all...

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  • #228
  • Edited 8:04am Nov 26, 2009 7:17am | Edited 8:04am
Just noticed that chart isnt showing a Sunday candle?

WMD - are we discounting them? Also WMD when you say ideal entry 30 pips below base of daily candle - sorry which one are you refering too?

Cheers - 007


Quoting wmd
nice one dbz. well spoted.

definately in the zone. draw a lower trendline using 4hr. you can see it got a nice clean bounce 130.43. ideal entry would be 30 pips lower at base of daily.

i've missed it now. we're up to 130.80. i'll look for entry if it goes back to the ltl again.
Attached Image (click to enlarge)
Click to Enlarge Name: ej d1.gif Size: 20 KB
  • #229
  • Nov 26, 2009 8:37am Nov 26, 2009 8:37am
Being today is shaping up to be a slow day due to the US holiday, I was looking at recent posts on FF from other threads...

Broker deducted money from my account Hi guys

Don''t know all the ins and outs of legal stuff regarding Forex, but want to throw this if anyone knows what I can do. I have been trading with GCI and they have deducted $8000 yesterday from my account because I was scalping the market. I have seen that there system was sometime in lag mode and then when I opened trades during news time, they said that I was scalping the market and that this is not trading according to them.

No where in the terms and conditions have I seen anything that they said that one cannot scalp the market. Do I have any rights to stand on here or can the broker just deduct my winnings from my account. They confirmed that they have a problem with there system at some times and that all my trades were made during the time that their system was having problems.

Can I do anything here.

Thanks
  • #230
  • Nov 26, 2009 8:37am Nov 26, 2009 8:37am
wmd,
Have been reviewing this thread, and wanted to thank you for starting it. Your approach is familiar to me as I have been using it for several years now. It is a very powerful perspective of PA on higher time compressions as you have stated. IMHO, this is one of several things that really improved my trading and will greatly improve a traders success-to-loss ratio. It is not magic or easy, and requires a lot of chart studies, but is well worth the effort. Nice job wmd.
  • #231
  • Nov 26, 2009 8:40am Nov 26, 2009 8:40am
Quoting Hercs

I attach for your perusal and comment a screen-print with an indicator that draws the R/S-lines over 4 TFs. I will gladly share it with your approval, WMD. One thing you made clear is the fact that it is not always the extreme price from where the level should be drawn and that is therefore the only downfall of this indicator as it picks the extremes.

.

nice ride hercs. i was sitting in the same train waiting for gravity to do its thing since yesterday.

you're welcome to share the indi. i think i've seen it before. harrybarry s&r or sr7? but as said, if you use it, handle with care. our entry zone is rarely the extreme. it may be more useful to find an indi that could box of the whole zone though. that would save a lot of Optrex.
  • #232
  • Nov 26, 2009 8:43am Nov 26, 2009 8:43am
Found this one on NZDUSD
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  • #233
  • Nov 26, 2009 8:44am Nov 26, 2009 8:44am
Quoting redart007
Just noticed that chart isnt showing a Sunday candle?

WMD - are we discounting them? Also WMD when you say ideal entry 30 pips below base of daily candle - sorry which one are you refering too?

Cheers - 007

ey - 130.10 of the daily.
  • #234
  • Nov 26, 2009 8:57am Nov 26, 2009 8:57am
Quoting denverdude
Found this one on NZDUSD
bop was at 7220. its already used and abused.

the area you're describing here looks like general support. price is inside the cluster so you should get reactions but take care.
  • #235
  • Nov 26, 2009 9:00am Nov 26, 2009 9:00am
Quoting GEfx
Your approach is familiar to me as I have been using it for several years now. It is a very powerful perspective of PA on higher time compressions as you have stated. IMHO, this is one of several things that really improved my trading and will greatly improve a traders success-to-loss ratio. It is not magic or easy, and requires a lot of chart studies, but is well worth the effort.
Please join us. Looking forward to your analysis.
  • #236
  • Nov 26, 2009 9:02am Nov 26, 2009 9:02am
Quoting redart007
Just noticed that chart isnt showing a Sunday candle?

Cheers - 007

I've never noticed. Is there a way of getting it to show?
  • #237
  • Nov 26, 2009 9:05am Nov 26, 2009 9:05am
hi wmd

What you think about current EU chart? we have here resistance that turns to support.
regards
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  • #238
  • Nov 26, 2009 9:09am Nov 26, 2009 9:09am
I thought the reverse was the case i.e that most charts show Sunday data...DBZ's charts don't...


Quoting wmd
I've never noticed. Is there a way of getting it to show?
  • #239
  • Nov 26, 2009 9:42am Nov 26, 2009 9:42am
hi, wmd,
I really love your thread...
I just want to know, how many years have you traded using this method? are you rich now???
I really want to learn some good strategies from a trader who is already successful and rich.

Another thing I want to metion is, it's true that a lot of buying orders are putting on the untested support level...but this only can ensure there is a small bounce on this level, these orders can not ensure the trend will continue to go up. If a up trend want to continue, big players should continue to buy at different higher level after the turn point. what can ensure this?
the untested support level only can ensure this is a potential turn point, it can't ensure the trend will continue to go up, right? how to solve it?
  • #240
  • Nov 26, 2009 9:48am Nov 26, 2009 9:48am
Quoting bobowang
hi, wmd,
I really love your thread...
I just want to know, how many years have you traded using this method? are you rich now???
I really want to learn some good strategies from a trader who is already successful and rich.

Another thing I want to metion is, it's true that a lot of buying orders are putting on the untested support level...but this only can ensure there is a small bounce on this level, these orders can not ensure the trend will continue to go up. If a up trend want to continue, big players should continue to buy at different...
Nothing's guaranteed in trading, trend may continue or not, just have to close out when you see it go against you imho
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