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  • #9,481
  • Jan 26, 2010 2:14am Jan 26, 2010 2:14am
Quoting el_duende
Right at end of asian session and just before the German open 100 pip move in 2 mins, same across all JPY pairs. That is some serious money entered the market in very short space of time, I guess some banks? With Japan needing to weaken they Yen could this be a clue as to what will happen next. JPY pairs look very interesteing hehe

PS i got a 1min chart on to the thread hehe)
What happens on M1 is NOISE!

To us its just fly shit in a pot of pepper - or to be exact, 0.07% of Worker action - WHO CARES!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,482
  • Jan 26, 2010 2:26am Jan 26, 2010 2:26am
Quoting strat
What happens on M1 is NOISE!

To us its just fly shit in a pot of pepper - or to be exact, 0.07% of Worker action - WHO CARES!
Roger I just thought it interesting at end of session there was this move.
  • #9,483
  • Jan 26, 2010 2:30am Jan 26, 2010 2:30am
Quoting strat
We had better watch out - Blackeagle is in to cycles now!
When does the cycle end? Basically, during downtrends, assuming looking at one time frame (of course we should check higher time frames to see the trend direction, but for the sake of "cycle" argument, let's just focus on one time frame only), we see lower lows and lower highs. After that, if price records a higher high, then we should be alerted about "Possible" trend change for that time frame only and this is called half cycle. Later on if price pullbacks and make a higher low which should be confirmed with a new higher high (called full cycle), chances are better to be able to say trend has reversed. The opposite is valid for uptrends. This is how I am reading the charts to determine the trends by using swing analysis.
  • #9,484
  • Jan 26, 2010 2:38am Jan 26, 2010 2:38am
Quoting strat
Despite the battle going on with EURJPY, watch the JPY pairs closely - they are all lining up together.
The reason of this JPY volatility is the news about Japan's AA sovereign long-term credit rating which has been placed to a negative outlook by Standard and Poor's and the rating would be downgraded to AA- if economic data remains weak.
  • #9,485
  • Jan 26, 2010 2:43am Jan 26, 2010 2:43am
good morning all (it's still morning here),

First, who I am. I am 23 years old student (yeah, I know I'm still young and stupid), living in Lithuania, studying IT (after second year of studying I've chosen programmer's specialization), and I think I like it. This is my last year (fourth) at the university, so I have a little bit works to do. Still didn't decide if I am going to try for the second grade.

Now about trading. I found about forex and downloaded my first platform maybe five or six years ago. Certainly, then it was a game, like a casino. After playing a little bit, I (and, I think, like most of all) started searching for the system (you all know what I am talking about). There were lots of them, which was described as '$100 to $100000'. Oh, before that I tried to "trade" with no chart, because it was all filled with silly indicators. After all I decided that if I can't trade - robot will. Downloaded some of them, some - I wrote to myself. But the phrase my parents always saying is true: "Money are not falling from heaven". So, I lost two my live accounts (they were very small, smaller than my study grant, so I afforded that). I don't remember if I created an account in FF after this thread start or earlier, but I'm reading and bookmarking posts (sometimes rereading them) from the beginning of this wonderful thread and it is one of all the forum that I'm reading. I wanted to introduce here very many times, but I didn't venture this. I know I wrote a couple of stupid posts here, I took some stupid trades while reading this thread.

This thread is making me more stable, I'm now waiting the trade to show itself, not searching for it (Before, I was so weak, I woke up in the morning and said to myself: "today i'm gonna take a good trade". Sure, it was a loosing one.).

Now I'm short in GBPCHF since Thursday's BEEB, today it got up above my entry. If it will reach my SL, then loosing this trade will be one of thousands lessons.

(if there are some mistakes, mark you, english is my foreign language)

many thanks to Strat and all the team in this thread

  • #9,486
  • Jan 26, 2010 2:49am Jan 26, 2010 2:49am
Quoting Blackeagle
When does the cycle end? Basically, during downtrends, assuming looking at one time frame (of course we should check higher time frames to see the trend direction, but for the sake of "cycle" argument, let's just focus on one time frame only), we see lower lows and lower highs. After that, if price records a higher high, then we should be alerted about "Possible" trend change for that time frame only and this is called half cycle. Later on if price pullbacks and make a higher low which should be confirmed with a new higher high (called full...
Just fooling with you, my friend!

I understand exactly your methodology. Cycles are just like Waves - you never really know when they start and end.

Just when you think a complete harmonic cycle has completed, along comes another move which you think is the beginning of the next cycle only to see it attach itself to the previous cycle - very, very frustrating.

I have tried every trick in the book and those outside the box, but I still can't determine, with 100% certainty, cycle terminations.

In the end, I just think about my old friend, Dr. Joe - if he couldn't do it with his rocket scientist brain power, what chance have I?
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,487
  • Jan 26, 2010 3:03am Jan 26, 2010 3:03am
Quoting BaliuxXx
good morning all (it's still morning here),

First, who I am. I am 23 years old student (yeah, I know I'm still young and stupid), living in Lithuania, studying IT (after second year of studying I've chosen programmer's specialization), and I think I like it. This is my last year (fourth) at the university, so I have a little bit works to do. Still didn't decide if I am going to try for the second grade.

Now about trading. I found about forex and downloaded my first platform maybe five or six years ago. Certainly, then it was a game, like a casino....
Have the PATIENCE, DETERMINATION and DISCIPLINE to stay on The Path and, like those who have taken the steps before you, you will be successful.

As for GBPCHF, several of us are in this trade. If you have a PLAN then you don't care what the outcome is - WIN or LOSE it is ALL planned and ACCEPTED.

It all comes down to the Laws of Probability - we have a 50% chance of being right and a 50% chance of being wrong. As long as we keep our losses smaller than our winners we will ALWAYS be profitable.

This could be a re-test of resistance at 1.7020 or a break out of the 19 week range - who knows? I don't.

Just make sure you SL is far enough away from the last high (1.7036 on my data) in case the big boys go on a stop run - they KNOW where our stops are!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,488
  • Jan 26, 2010 3:09am Jan 26, 2010 3:09am
Quoting strat
Have the PATIENCE, DETERMINATION and DISCIPLINE to stay on The Path and, like those who have taken the steps before you, you will be successful.

As for GBPCHF, several of us are in this trade. If you have a PLAN then you don't care what the outcome is - WIN or LOSE it is ALL planned and ACCEPTED.

It all comes down to the Laws of Probability - we have a 50% chance of being right and a 50% chance of being wrong. As long as we keep our losses smaller than our winners we will ALWAYS be profitable.

This could be a re-test of resistance at 1.7020 or...
thanks Strat for your responce.

my SL is at 1.7035, and I have a minor resistance at 1.6950 where the Price is stopping now.
  • #9,489
  • Jan 26, 2010 3:15am Jan 26, 2010 3:15am
Quoting BaliuxXx
thanks Strat for your responce.

my SL is at 1.7035, and I have a minor resistance at 1.6950 where the Price is stopping now.
That's not resistance - that's the energy level of 1. 7020 resistance which it is reacting to.

DO NOT WATCH YOUR CHARTS DURING THE DAY! This is guaranteed to trigger your little people.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,490
  • Jan 26, 2010 3:20am Jan 26, 2010 3:20am
So, those of you who took the GBPCHF BEEB set up and are now short, how many of you are or were worried over their positions - BE HONEST!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,491
  • Jan 26, 2010 3:22am Jan 26, 2010 3:22am
Quoting strat
So, those of you who took the GBPCHF BEEB set up and are now short, how many of you are or were worried over their positions - BE HONEST!
me
  • #9,492
  • Jan 26, 2010 3:31am Jan 26, 2010 3:31am
Quoting strat
Just fooling with you, my friend!
I am aware, I just wrote that for the ones who needed more explanation about swing analysis as I have mentioned a few times recently.
  • #9,493
  • Jan 26, 2010 3:33am Jan 26, 2010 3:33am
Quoting strat
J... Cycles are just like Waves - you never really know when they start and end.

Just when you think a complete harmonic cycle has completed, along comes another move which you think is the beginning of the next cycle only to see it attach itself to the previous cycle - very, very frustrating.

I have tried every trick in the book and those outside the box, but I still can't determine, with 100% certainty, cycle terminations.

In the end, I just think about my old friend, Dr. Joe - if he couldn't do it with his rocket scientist brain power,...
100% agree.
  • #9,494
  • Jan 26, 2010 3:39am Jan 26, 2010 3:39am
Sorry if I misunderstood the thread.

I thought it was to find a way to trade Forex in a stress free way.

I found a way, by learning and hard work to do precicely that. I thought it would be helpful to others, who may be struggling with forex, to pass on this knowledge if they wanted it.

I am not trying to force anyone to do anything, they are free to look at information that I found and make up their own minds.

I am not promoting OANDA, I have used them for over two years and have always found them to be helpful, honest and their trading platform suits me very well.

Robert.
  • #9,495
  • Jan 26, 2010 5:45am Jan 26, 2010 5:45am
Hi all - new here! It all makes soooooo much sense.... I've been spending a lot of time over on J16 (where there is also much common sense written) and looking forward to building on that knowledge here.

A couple of very newb questions if I may. I know most common candle patterns but for the life of me I can't work out what a BEEB and BUEB are. I know that it's bullish and bearish bar, but it's the third letter that has me stumped - what does that E stand for?

Also, in reading the thread I've gathered that you shouldn't take action until close of bar, but I also remember reading from Strat that you should wait for close of NY session. I'm in the UK and trading using Oanda, so close of NY session is 2200 local time (GMT at present) and Oanda bars close at 0400 local time, so I'm rather confused as to when I should make my assessments. I work full time so I don't really fancy getting up at 0400 every morning (but I will if I have to!). Any advice would be much appreciated.

Thanks, G
When in doubt, sit on your hands...
  • #9,496
  • Jan 26, 2010 5:53am Jan 26, 2010 5:53am
Quoting gododdin
Hi all - new here! It all makes soooooo much sense.... I've been spending a lot of time over on J16 (where there is also much common sense written) and looking forward to building on that knowledge here.

A couple of very newb questions if I may. I know most common candle patterns but for the life of me I can't work out what a BEEB and BUEB are. I know that it's bullish and bearish bar, but it's the third letter that has me stumped - what does that E stand for?

Also, in reading the thread I've gathered that you shouldn't take action until...
BEEB - BEarish Engulfing Bar
BUEB - BUllish Engulfing Bar

You can trade NY close at 5pm EST (that's what most of us is doing for daily bars) or you can choose to trade your own trading platform's daily close bar.
  • #9,497
  • Jan 26, 2010 5:57am Jan 26, 2010 5:57am
Quoting Blackeagle
BEEB - BEarish Engulfing Bar
BUEB - BUllish Engulfing Bar
Doh! Sorry - it's obvious now...

Quoting Blackeagle
You can trade NY close at 5pm EST (that's what most of us is doing for daily bars) or you can choose to trade your own trading platform's daily close bar.
That's great - so I can trade between 10.00 pm and going to bed - perfect!

I've read the first 20 pages or so of the thread but I will now continue until I arrive back here - looking forward to this journey very much...
When in doubt, sit on your hands...
  • #9,498
  • Jan 26, 2010 6:02am Jan 26, 2010 6:02am
Quoting strat
So, those of you who took the GBPCHF BEEB set up and are now short, how many of you are or were worried over their positions - BE HONEST!
I got taken out at break even, yesterdays bar ate all my profits on this trade
  • #9,499
  • Jan 26, 2010 6:18am Jan 26, 2010 6:18am
Quoting robwill
Sorry if I misunderstood the thread.

I thought it was to find a way to trade Forex in a stress free way.

I found a way, by learning and hard work to do precicely that. I thought it would be helpful to others, who may be struggling with forex, to pass on this knowledge if they wanted it.

I am not trying to force anyone to do anything, they are free to look at information that I found and make up their own minds.

I am not promoting OANDA, I have used them for over two years and have always found them to be helpful, honest and their trading...
It probably got mentioned, but there are many traders on FF that place their orders on the big O but do their charting with an Mt4 platform because of the 5 pm NY close.
  • #9,500
  • Edited 8:21am Jan 26, 2010 6:58am | Edited 8:21am
Quoting gododdin
Hi all - new here! It all makes soooooo much sense.... I've been spending a lot of time over on J16 (where there is also much common sense written) and looking forward to building on that knowledge here.

A couple of very newb questions if I may. I know most common candle patterns but for the life of me I can't work out what a BEEB and BUEB are. I know that it's bullish and bearish bar, but it's the third letter that has me stumped - what does that E stand for?

Also, in reading the thread I've gathered that you shouldn't take action until close...
Hi Goddodin
Welcome
Here's a PDF on candles, should explain everything.
Use your local time for candle close
Have a great day!
Attached File(s)
File Type: pdf candlestickebook.pdf   402 KB | 2,037 downloads
We wants the Precious, Yes...we do - Gollum
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