Islander and Medici trade the European open | Page 48 | Forex Factory

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Islander and Medici trade the European open

  • #941
  • Feb 25, 2010 1:12am Feb 25, 2010 1:12am
Still looking to sell ej though.
  • #942
  • Feb 25, 2010 2:18am Feb 25, 2010 2:18am
Hi Islander,

Like Vantage, I think there would be great benefit in a chart summary of the Euro UK opening period trades.

Perhaps you could find time to post a chart of your set ups after the session stalls.
Money grows on the tree of persistence
  • #943
  • Feb 25, 2010 2:30am Feb 25, 2010 2:30am
After the fall in the Asian Session cable's been in a very tight range so far.

The overnight high ~5342 has held and I sold as it held again after the LO.
Trading Levels with WRBs
  • #944
  • Feb 25, 2010 2:30am Feb 25, 2010 2:30am
Quoting Vantage
Still looking to sell ej though.
Nice trades V - you picked todays biggest mover.....
Trading Levels with WRBs
  • #945
  • Feb 25, 2010 2:32am Feb 25, 2010 2:32am
Quoting ozmacca
Hi Islander,

Like Vantage, I think there would be great benefit in a chart summary of the Euro UK opening period trades.

Perhaps you could find time to post a chart of your set ups after the session stalls.

OK guys - I get the message - I'll see what I can do......
Trading Levels with WRBs
  • #946
  • Edited 3:05am Feb 25, 2010 2:43am | Edited 3:05am
In the further quest to get closer to Islanders methods, the spin that Mrs V and I have on 1 min.

Admittedly today was a good example.

OK the simple basis is, we viewed ej as down, well daily, 4hr, 1hr everything is down so we are looking to sell. When price has any green ie up move followed by a red negative close candle we are looking to sell a break below the low of red candle.

The attached screenshot shows x where there is a red close but no move below low of red candle SO NO TRADE and the check marks are the successful trades.

A high success rate.

Islander where do you actually enter, at the close of a candle or at percieved top?

PS We did sell the last check mark 120.57 for +8 exiting when it hesitated below 50 level.
Attached Image (click to enlarge)
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  • #947
  • Feb 25, 2010 2:47am Feb 25, 2010 2:47am
Quoting Vantage
and the check marks are the successful trades.
My scalping definition of successful = pips banked (dooh!) or chance to move stop to BE (usually around +8) to avoid a loss.
  • #948
  • Feb 25, 2010 2:51am Feb 25, 2010 2:51am
Quoting Islander
After the fall in the Asian Session cable's been in a very tight range so far.

The overnight high ~5342 has held and I sold as it held again after the LO.

Closed after the wide ranged red 1m candle had no follow thru....note that € turned 11 mins earlier http://cdn.forexfactory.com/images/icons/icon12.gif

NB €'s 50% retrace of the overnight fall is at 3499....
Trading Levels with WRBs
  • #949
  • Feb 25, 2010 2:51am Feb 25, 2010 2:51am
Quoting Vantage
In the further quest to get closer to Islanders methods, the spin that Mrs V and I have on 1 min.

Admittedly today was a good example.

OK the simple basis is, we viewed ej as down, well daily, 4hr, 1hr everything is down so we are looking to sell. When price has any green ie up move followed by a red negative close candle we are looking to sell a break below the low of red candle.

The attached screenshot shows x where there is a red close but no move below low of red candle and the check marks are the successful trades.

A high success...
hey v.

thanks for your clear explanation
  • #950
  • Feb 25, 2010 2:58am Feb 25, 2010 2:58am
Quoting FOURX
hey v.

thanks for your clear explanation
No problem.

Hardly looked at gu today but a quick scan on basis per above post shows it would have been pretty good there also in the last hour or so.
  • #951
  • Feb 25, 2010 3:06am Feb 25, 2010 3:06am
Quoting FOURX
hey v.

thanks for your clear explanation
Just to be clear SO NO TRADE added to above post where theres an x and no follow through, theres no trade.
  • #952
  • Feb 25, 2010 3:25am Feb 25, 2010 3:25am
I sold again when price held at the fast 1m ema (30).....closed in the spike down to the S3 / 275 confluence.....this makes todays range 142 pips since price turned at the DP

I have the 50% retrace on my weekly chart at 5248......that's also a fib 2.0 expansion off my 15m chart......
Trading Levels with WRBs
  • #953
  • Feb 25, 2010 3:29am Feb 25, 2010 3:29am
In the further quest to get closer to Islanders methods, the spin that Mrs V and I have on 1 min.

Admittedly today was a good example.

OK the simple basis is, we viewed ej as down, well daily, 4hr, 1hr everything is down so we are looking to sell. When price has any green ie up move followed by a red negative close candle we are looking to sell a break below the low of red candle.

The attached screenshot shows x where there is a red close but no move below low of red candle SO NO TRADE and the check marks are the successful trades.

A high success rate.

Seems pretty good to me http://cdn.forexfactory.com/images/icons/icon7.gif

Islander where do you actually enter, at the close of a candle or at percieved top?

For entries I prefer to see a 1m closed candle of a different colour and at "a level" OR for continuation it can be at a MA.....
Trading Levels with WRBs
  • #954
  • Feb 25, 2010 3:32am Feb 25, 2010 3:32am
Gov King starting his thing now so I'm done.

1 min attached, the white is 30 ema. Islander I think I may have finally gotten close to your methods in my head. As per the above post 946 move up, red candle close moves on 1 pip = sell.

We would sell the close of a red candle.

GU gave some nice trades when it broke out of its sideways junk.
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  • #955
  • Feb 25, 2010 3:35am Feb 25, 2010 3:35am
Quoting Islander

For entries I prefer to see a 1m closed candle of a different colour and at "a level" OR for continuation it can be at a MA.....
Thanks yes penny finally dropped. Finally getting close to your methods me thinks!!

I'm going to hit the big 50 in 2 months, so yes you can teach an old dog some new tricks .
  • #956
  • Feb 25, 2010 3:39am Feb 25, 2010 3:39am
Quoting Vantage
so yes you can teach an old dog some new tricks .
You just have to put up with a lot of gas and slobber along the way!!
  • #957
  • Feb 25, 2010 3:50am Feb 25, 2010 3:50am
Ej 1 min.

I have finished trading now King is speaking so thought I'd post update .

x = no trade as price did not go below the red candle low.

check mark = successful trade.

red line is the 1 losing trade that I can see.
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  • #958
  • Feb 25, 2010 3:54am Feb 25, 2010 3:54am
To me trading must be boring, unemotional win lose or draw. I must say though that being on the edge of cracking Islanders methods I'm almost, repeat almost breaking a .

Cheers Islander!!
  • #959
  • Feb 25, 2010 4:03am Feb 25, 2010 4:03am
Quoting Vantage
Ej 1 min.

I have finished trading now King is speaking so thought I'd post update .

x = no trade as price did not go below the red candle low.

check mark = successful trade.

red line is the 1 losing trade that I can see.
Oh I forgot to add, the best trades are at the key levels as Islander mentioned. Its no coincidence that the move up to 75 psych level and fall gave a good trade and the only check mark in that move up. The prev 2 x's price never fell below signal candle low so no trades. The following moves down are lh re-entries and will obviously have higher risk.

The next successful trade is the move up and reject of 50 level.

The 1 failed trade, the red line, is in the no-mans land trade between the 50 level and the W S3 pivot. Theres a lesson there also.
Attached Image (click to enlarge)
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  • #960
  • Feb 25, 2010 4:24am Feb 25, 2010 4:24am
Quoting Islander
I sold again when price held at the fast 1m ema (30).....closed in the spike down to the S3 / 275 confluence.....this makes todays range 142 pips since price turned at the DP

I have the 50% retrace on my weekly chart at 5248......that's also a fib 2.0 expansion off my 15m chart......

OK, before I go out, the bounce up off this level held at the 5300 level - also by coincidence http://cdn.forexfactory.com/images/icons/icon12.gif the fast ema. Whilst the next push down did go lower, it was only by 5 pips and with decreasing momentum.

A green 1m spinning top was the low.....so buy above its close above the 275 level with a nice tight stop and just follow the rally.....an easy ~ 20 pips or ~50 pips if the stall around the 5300 level didnt shake you out.....

BFN
Trading Levels with WRBs
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