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  • #2,481
  • Jan 25, 2010 8:30am Jan 25, 2010 8:30am
Quoting Pipalicious
I see your point of view

This is how im personally seeing it right now....

I could be wrong but its what im seeing at the moment.

cheers.
Its starting to make HH and HL on the daily, not to mention what custos and NM are saying.
It's my price or no price at all!
  • #2,482
  • Jan 25, 2010 8:38am Jan 25, 2010 8:38am
Quoting 4extool
Its starting to make HH and HL on the daily, not to mention what custos and NM are saying.
I am a little leary of that pair, and like what was previuosly stated with the news coming out I am going ot sit on the sidelines until after the news and see where things landed after the dust settles.

--NM
  • #2,483
  • Jan 25, 2010 8:45am Jan 25, 2010 8:45am
Quoting Pip Dawg
Pipalicious....

I'm watching the same setup. Housing numbers come out in the US in about 30 minutes so I'm sitting on the sidelines for now.
Here is what I am seeiing on the GBPUSD daily chart, it is in quite a mess at the moment.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd daily brush pile.gif Size: 31 KB
  • #2,484
  • Jan 25, 2010 9:09am Jan 25, 2010 9:09am
The new does not seem to be bothering any of the currencies, I think this market has been overloaded with news and is becoming immune to some of the news announcements that used to move it. But thats just my opinion.

--NM
  • #2,485
  • Jan 25, 2010 9:15am Jan 25, 2010 9:15am
You can really track the health of a nations economy by the housing data. This is not good for USD. It just shows a continuation of the worsening economy here in the US.
  • #2,486
  • Jan 25, 2010 9:21am Jan 25, 2010 9:21am
Quoting Pip Dawg
You can really track the health of a nations economy by the housing data. This is not good for USD. It just shows a continuation of the worsening economy here in the US.
Yes you can, they always sugar coat everything hoping to get the media to start a fire under the ecomony but the the facts are as they are, I have been a Real Estate Broker for many years and when the economy was good housing moved so fast you could not keep inventory, but over the last 5 years or so it has steadlily declined. And when the bubble finally burst it went into pieces in a hurry, eventually it will get back to normal but I think that is a little ways off yet.

--NM
  • #2,487
  • Jan 25, 2010 9:29am Jan 25, 2010 9:29am
The market is awful quiet today...

--NM
  • #2,488
  • Jan 25, 2010 9:49am Jan 25, 2010 9:49am
Quoting NightMoves
The market is awful quiet today...

--NM
yeah, kind of quiet, I banked pips on cad/jpy today (h1 chart).
And took a long touch trade on eur/gbp. already banked half and put stop to breakeven, now just waiting if it gets back up for another swing (h1 chart).

other than that I also didn't see many opportunities in the market.
  • #2,489
  • Edited 10:23am Jan 25, 2010 9:55am | Edited 10:23am
Quoting Kanderpro
Hello NightMoves, Custos and Entropy Lad et al,
Thanks for starting this thread NightMoves, and to all of you for the education you have provided.
Have arrived here via Jacko and DanUK threads.
Have spent weekend reading and watching Hector's chapter 1, and have read about 1/4 of this thread so far. I hope to become proficient in the method and contribute to the thread.
Re EG, Entropy Lad: good cases for entry on H4 and H1 I think, but in opposite directions.
Kan

On all the setups that i posted:All the setups that i was following moved in the opposite directions of what i want with the exception of CADJPY. It is fustrating. Watching a setup moves nicely, then, when it is getting really ripe, it breaks down.


Mr. KANDERPRO, Good to have you here.

KANDERPO: E/G in opposite direction from H4/H1? Yeah, you are right. I missed that. E/G did breakout to 2 times RISK on the 30minutes/5minutes, nonetheless, The rally was stopped out by the lefthanded S/R gap levels/GAP(yellow area) on the trigger chart. I wrote about this phenomenon as recently as yesterday in this post.
http://www.forexfactory.com/showpost...postcount=2458
You can see clearly in this attached chart of EUR/GBP 30mins/5mins how that rally was stopped cold by the GAP/ S and R levels like i was pointing out yesterday.

http://www.forexfactory.com/attachme...1&d=1264436203


CUSTOS: said something about time approaching noon at london time...yeah, hector recommended against it. But for 1, 2,3 formation, in my little experience, i think they are good till 12pm US time. What i generally do is to expand the SL to #1 from #3 of a 1, 2, 3 formation when trading european/european pair or crosses after london 11am.

4EXTOOL: Was making a comment with regards to custos suggested entry and how hector even talked about that. Hector mentioned waiting for reversal candle formation if you must take such high risk. Anyways, do whatever works for you. May the pips be with you.

Anyways, here is the CADJPY. The only one of the setups that i was waiting for that actually behaved itself:
THE SETUP CHART:
http://www.forexfactory.com/attachme...1&d=1264436203



THE TRIGGER CHART:
http://www.forexfactory.com/attachme...1&d=1264436203




THE FINAL TRADE COMPLETION:
http://www.forexfactory.com/attachme...1&d=1264436203
  • #2,490
  • Jan 25, 2010 9:59am Jan 25, 2010 9:59am
Quoting Custos
yeah, kind of quiet, I banked pips on cad/jpy today (h1 chart).
And took a long touch trade on eur/gbp. already banked half and put stop to breakeven, now just waiting if it gets back up for another swing (h1 chart).

other than that I also didn't see many opportunities in the market.
There is just no momentum on any of the pairs right now, the week is getting off to a pretty slow start.

--NM
  • #2,491
  • Jan 25, 2010 10:04am Jan 25, 2010 10:04am
Quoting NightMoves
There is just no momentum on any of the pairs right now, the week is getting off to a pretty slow start.

--NM
I think the news may have been a mixed bag between worse than anticipated sales and higher sales prices for the first time in over 2 years.

pipnut
Even a blind squirrel finds a nut sometime.
  • #2,492
  • Jan 25, 2010 10:10am Jan 25, 2010 10:10am
Quoting pipnut
I think the news may have been a mixed bag between worse than anticipated sales and higher sales prices for the first time in over 2 years.

pipnut
Yes I agree that is probabaly what it is, just a bunch of offsetting news. But I have noticed there is so many news releases and they seem to be adding more every day, and some of the news realease are geopgraphic specific and they try and base a whole economy on a specific geographical location that really in no way paints the big picture what is really going on. In my oipinion there is a lot of contaminated data and biased data in some of these news releases they are coming up with. But again thats just my opinion.

--NM
  • #2,493
  • Jan 25, 2010 10:13am Jan 25, 2010 10:13am
Quoting NightMoves
Yes I agree that is probabaly what it is, just a bunch of offsetting news. But I have noticed there is so many news releases and they seem to be adding more every day, and some of the news realease are geopgraphic specific and they try and base a whole economy on a specific geographical location that really in no way paints the big picture what is really going on. In my oipinion there is a lot if contaminated data and biased data in some of these news releases they are coming up with. But again thats just my opinion.

--NM
Are you saying someone's fudging the numbers? For shame!

pipnut
Even a blind squirrel finds a nut sometime.
  • #2,494
  • Jan 25, 2010 10:21am Jan 25, 2010 10:21am
Quoting NightMoves
Yes I agree that is probabaly what it is, just a bunch of offsetting news. But I have noticed there is so many news releases and they seem to be adding more every day, and some of the news realease are geopgraphic specific and they try and base a whole economy on a specific geographical location that really in no way paints the big picture what is really going on. In my oipinion there is a lot of contaminated data and biased data in some of these news releases they are coming up with. But again thats just my opinion.

--NM
yeah, that's why I just pay attention to the red-marked news and nothing else, otherwise I couldn't trade a single pair cause every hour a new news item seems to come out.
  • #2,495
  • Jan 25, 2010 10:21am Jan 25, 2010 10:21am
Quoting Custos
yeah, kind of quiet, I banked pips on cad/jpy today (h1 chart).
And took a long touch trade on eur/gbp. already banked half and put stop to breakeven, now just waiting if it gets back up for another swing (h1 chart).

other than that I also didn't see many opportunities in the market.
Hi Custos,

sorry to bother but could you share a chart with me on your c/j trade so i can compare with my charts to see how im seeing it aswell?

still learning this method although ive been using jackos trade setups for a while.

But i do like the logic and simplicity of hectors methodology. It makes tremendous sense to me aswell.

cheers,

pip
  • #2,496
  • Jan 25, 2010 10:23am Jan 25, 2010 10:23am
Quoting pipnut
Are you saying someone's fudging the numbers? For shame!

pipnut
...I am not saying they are fudging numbers but they should correlate all the data and not hand pick the data. That is really what it boils down too. Take for example the housing data which is supplied from the National Association of Realtors, the data they use is specific to one location of the US and not the whole entire country, and when that area sees a decline then they paint a picture that is it is nation wide, and really that is not the case at all.

So really they are not using all the data they hand pick data and they have always done that for some reason. I am not sure why they do it but they do. I am no economist by any means but I do know if you are going to give a final report you should really look at all the data and not just a very small sample rate of the data. Again only my opinion.

--NM
  • #2,497
  • Jan 25, 2010 10:25am Jan 25, 2010 10:25am
Quoting Pipalicious
Hi Custos,

sorry to bother but could you share a chart with me on your c/j trade so i can compare with my charts to see how im seeing it aswell?

still learning this method although ive been using jackos trade setups for a while.

But i do like the logic and simplicity of hectors methodology. It makes tremendous sense to me aswell.

cheers,

pip
attached is both the setup chart (h1) and the trigger chart (m15). Hope that helps
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadjpy h1 25.1.2010.gif Size: 54 KB
Click to Enlarge Name: cadjpy m15 25.1.2010.gif Size: 51 KB
  • #2,498
  • Jan 25, 2010 10:28am Jan 25, 2010 10:28am
Quoting NightMoves
The market is awful quiet today...

--NM
This market is fustrating the heck out of me today. I guess the market acts this way sometimes, nothing you can do about it.

On the bright side, my USD/JPY be + 1 wasnt triggered...not yet anyways...it is back to 90.00 area again. That area is resilient.
  • #2,499
  • Jan 25, 2010 10:29am Jan 25, 2010 10:29am
Quoting NightMoves
...I am not saying they are fudging numbers but they should correlate all the data and not hand pick the data. That is really what it boils down too. Take for example the housing data which is supplied from the National Association of Realtors, the data they use is specific to one location of the US and not the whole entire country, and when that area sees a decline then they paint a picture that is it is nation wide, and really that is not the case at all.

So really they are not using all the data they hand pick data and they have always...
I was wondering if there was a selection process for data inclusion as there must be a number of short sales going on that would lower the sales price figure.

pipnut
Even a blind squirrel finds a nut sometime.
  • #2,500
  • Jan 25, 2010 10:33am Jan 25, 2010 10:33am
Quoting Custos
attached is both the setup chart (h1) and the trigger chart (m15). Hope that helps
Hehe. We had the same trade, custos. Except that my entry was much lower. My chart is here.
http://www.forexfactory.com/showpost...postcount=2490
I entered at 85.10, out at 84.89. Risk/reward was 1:1.
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