Islander and Medici trade the European open | Page 56 | Forex Factory

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Islander and Medici trade the European open

  • #1,101
  • Mar 5, 2010 1:25am Mar 5, 2010 1:25am
Quoting Vantage
I also exited my sell for small gain. Freaky fri made worse by NFP?

probably - looks like its going to be hard work pirating pips today....
Trading Levels with WRBs
  • #1,102
  • Mar 5, 2010 1:36am Mar 5, 2010 1:36am
Closed that long for a wash after it was rejected by the slow ema.

I then sold after price was held by the fast ema...now looking for a push down towards S1 / the 4975 level - providing that it can break to new lows....or will we get a mid FH bounce.....TWT
Trading Levels with WRBs
  • #1,103
  • Mar 5, 2010 1:42am Mar 5, 2010 1:42am
Closed the short after yesterdays low held on a time line - it was a small high vol 5m hammer....I now have a small long, against the still falling emas
Trading Levels with WRBs
  • #1,104
  • Mar 5, 2010 2:01am Mar 5, 2010 2:01am
Quoting Islander
Closed the short after yesterdays low held on a time line - it was a small high vol 5m hammer....I now have a small long, against the still falling emas

Closed on time in the spike up to the days open level....
Trading Levels with WRBs
  • #1,105
  • Mar 5, 2010 2:12am Mar 5, 2010 2:12am
Quoting eaglestar
How large are your stops on such a small time frame? how much is your roi per week if i can ask please. I was reading about your position sizing and find it similar to other things i am learning on a site called kreslik. thanks

edit: also can you tell me the emas you use
Stops 12-16 pips generally.

Never looked at weekly roi to be honest. I have a target of 50 pips per day but if I get it fine if I don't I'm not gonna get upset about it. I don't give roi's but lets just say that I am remarkably consistent month on month. Had a 14% day earlier in week which takes pressure of a day like today where I know I've missed pips.

Emas are an 8 and 21 lwma on close.
  • #1,106
  • Mar 5, 2010 2:28am Mar 5, 2010 2:28am
Price continued on to the next TL - € too which just failed to reach its 3600 level.....I've sold both after their spikes up...
Trading Levels with WRBs
  • #1,107
  • Mar 5, 2010 2:30am Mar 5, 2010 2:30am
Both cable and €s highs were in their highest 5m vols today.....cable's was in a graveyard doji....
Trading Levels with WRBs
  • #1,108
  • Mar 5, 2010 3:05am Mar 5, 2010 3:05am
Quoting Islander
Price continued on to the next TL - € too which just failed to reach its 3600 level.....I've sold both after their spikes up...

closed both on spikes under their days open levels....mornings quota achieved and so I'm finished.....BFN
Trading Levels with WRBs
  • #1,109
  • Mar 5, 2010 4:04am Mar 5, 2010 4:04am
Quoting Vantage
takes pressure of a day like today where I know I've missed pips.
15 min showed vol increasing a little on big red neg close just to left of arrow down. The shooting star arrow down did give a sell chance on 1 min when it went below base of 1.5020. We made a decision not to sell there due to the erratic pa before, M2 was at 5017 also, so no problem not taking that one.

The buy we did miss was the hammer at the double bottom at y's low 5005. See red line on 1 min chart that shows the close of that 15 min candle. On 1 min it's also a nice 2nd hl, thats a set up we look for and didn't take. No excuses that wasn't good trading.
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  • #1,110
  • Mar 5, 2010 4:06am Mar 5, 2010 4:06am
Quoting Vantage
15 min showed vol increasing a little on big red neg close just to left of arrow down. The shooting star arrow down did give a sell chance on 1 min when it went below base of 1.5020. We made a decision not to sell there due to the erratic pa before, M2 was at 5017 also, so no problem not taking that one.

The buy we did miss was the hammer at the double bottom at y's low 5005. See red line on 1 min chart that shows the close of that 15 min candle. On 1 min it's also a nice 2nd hl, thats a set up we look for and didn't take. No excuses that wasn't...
After the above I had a few things to sort out for my mum so couldn't trade even if I wanted to. Oh well thankfully even if I close down now due to NFP, Monday's another day full of opportunity!!
  • #1,111
  • Mar 8, 2010 1:26am Mar 8, 2010 1:26am
Arrow down on 15 min, a hesitation candle just a touch too early for us. 5 min had a nice evening star pattern.

After the sharp move down (25 pips in blink of an eye) we waited a few minutes for pa to settle. Got this nice positive close arrow up, took the small retrace on 1 min for entry. Out at +17 when stalled at previous high.
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  • #1,112
  • Mar 8, 2010 2:05am Mar 8, 2010 2:05am
GM - nicely done V.....the 5m chart had a higher vol doji at 6:05 gmt and that was a warning followed by the break of Fridays High and the 30 ema.

The spike down to the earlier support at the days open level gave a great exit and 5 mins later there was a HL off the 5150 / MR1 area that ran up for ~40 pips, so plenty of opportunity to bank a few more.

I'm busy for the next few days and so any posts will be infrequent and in haste......good luck with your trading.....
Trading Levels with WRBs
  • #1,113
  • Mar 8, 2010 3:27am Mar 8, 2010 3:27am
So quiet in here without Islander or Medici posting. Of course, your contributions are appreciated as well Vantage. Pretty quiet day for me so far. Made a mistake early on where I got in a long a bit too soon and took a small loss. I did get into a long of T Open / MR1 in GU for 25 pips though so at least I've got something rolling. Still, a rather quiet day for me compared to previous Mondays. Now I'm just watching to see if the EU wants to drop...
  • #1,114
  • Mar 8, 2010 3:34am Mar 8, 2010 3:34am
15 min chart, 5 min coming.
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  • #1,115
  • Mar 8, 2010 3:43am Mar 8, 2010 3:43am
We have had 3 trades today.

Islander is very aggressive off 1 min but hopefully these charts will also help.

See 15 min above. 5 poss trades left to right.

1) 15 min doji, 5 min evening star pattern very close to 1 min entry below 5170. Vol picking up on 15 min and couldn't push higher.
2)15 min engulfing candle on higher vol, rejecting move down, buy around 5160.
3) 15 min - Railway tracks down on good vol, 5 min would have given better entry
4) 15 min - Hammer above 5150, 1 min hl after the 5 min shooting star could not follow through lower gave great entry.
5) 15 min push up to 5194 MM2 on lower vol. 5 min lower close, this entry would be very close to the 1 min entry.

15 min candles + vol (see above post) becoming more important for us.

5 mn attached.
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  • #1,116
  • Mar 8, 2010 3:44am Mar 8, 2010 3:44am
Quoting Vantage
We have had 3 trades today.
Oh no losers, always a bonus!!
  • #1,117
  • Mar 8, 2010 3:57am Mar 8, 2010 3:57am
Quoting Vantage
We have had 3 trades today.

Islander is very aggressive off 1 min but hopefully these charts will also help.

15 min candles + vol (see above post) becoming more important for us.

5 mn attached.
I'm definitely moving in that direction as well. I find the 1min to be great when things are trending to get those smaller pullbacks but outside of that I find it often makes my decision making more difficult. Throw in the questionable volume readings off 1min bars and it tends to disrupt my process. As a trend following method when the 5min 30EMA is sloping nicely though the 1min works like a charm.

Also got in the most recent GU 15min short. Exited partially on MR1 bounce.
  • #1,118
  • Mar 8, 2010 3:03pm Mar 8, 2010 3:03pm
New York Open 2 and a great sell off.....
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Trading Levels with WRBs
  • #1,119
  • Mar 9, 2010 12:24am Mar 9, 2010 12:24am
Lots of reasons to expect some volatility between 5025 and 4990 as this 4hr chart shows.
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  • #1,120
  • Mar 9, 2010 12:47am Mar 9, 2010 12:47am
Quoting Vantage
Lots of reasons to expect some volatility between 5025 and 4990 as this 4hr chart shows.
GM - agreed and I've copied Malcolmb's post from the VSA thread .....he's thinking we're due for a bounce....TWT - around FO / LO http://cdn.forexfactory.com/images/icons/icon12.gif

very interesting gu chart here

clearly pros bought at 1.5040 as we had stopping volume .....since then we had a little bounce and pros have not supported price and we have had a low volume drop to the supply zone 1.5000 to 1.5020 , where we have seen stopping volume again

I am not trading london BUT is this is in fact destined to go up look for some form of shake out on high volume or testing of 1.5000 on low volume on a 30 min chart....
Trading Levels with WRBs
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