Islander and Medici trade the European open | Page 57 | Forex Factory

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Islander and Medici trade the European open

  • #1,121
  • Mar 9, 2010 12:52am Mar 9, 2010 12:52am
15 min doji and positive close on 5025 with lower vol, the pos close could not convincingly go above the doji's high. We had set up for reject of 25 level.

Entry as shown, exited on TS loaded when we started going down nicely, +24.

Loading that TS was a big mistake, methinks we're heading for WS1 around 4920, TWT.
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  • #1,122
  • Mar 9, 2010 12:56am Mar 9, 2010 12:56am
Quoting Islander
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]I am not trading london BUT is this is in fact destined to go...
Whilst I should know better than to even raise the possibilty, but daily chart only could bounce to 38% so also makes me think lower.

The last 2 bounces from key level were only 25 pips, also makes me think lower.
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  • #1,123
  • Mar 9, 2010 1:27am Mar 9, 2010 1:27am
Hi,

This is an Islander trade that I caught this morning, double top entry and close at bounce off envelopes.

First trade posted, thought I would show a winner, this is what I am supposed to do every day, I wish
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Money grows on the tree of persistence
  • #1,124
  • Mar 9, 2010 1:29am Mar 9, 2010 1:29am
Quoting ozmacca
Hi,

This is an Islander trade that I caught this morning, double top entry and close at bounce off envelopes.

First trade posted, thought I would show a winner, this is what I am supposed to do every day, I wish
Nice one, keep 'em coming!!
  • #1,125
  • Mar 9, 2010 2:23am Mar 9, 2010 2:23am
Me again,

Being kind to me today, similar trade but opposite direction

Closed when bounced off resistance

Do me for the day
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Money grows on the tree of persistence
  • #1,126
  • Mar 9, 2010 2:29am Mar 9, 2010 2:29am
Great that you guys are banking some pips.... and keeping the thread alive.....here's my 1 min chart for this morning. The grey ellipses are time zones when there is a high probability of a short term swing high / low.....and yes, I sold earlier and bought later and am now flat waiting for the retrace - my Mk 1 eyeball puts the lower fibs around the 5000 / S1 confluence..........TWT....
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Trading Levels with WRBs
  • #1,127
  • Mar 9, 2010 2:35am Mar 9, 2010 2:35am
Quoting ozmacca
Me again,

Being kind to me today, similar trade but opposite direction

Closed when bounced off resistance

Do me for the day
But why stop there, ozmacca? I didn't take that one because I didn't want to trade into the 5000 before LO but we did have another good trade within a similar mould that just came up. Took the short here when LO pushed up on strong volume with no follow through and good volume. Lots of sellers in there. I was only willing to take the short back down to the 5000 level and cashed out there. Usually I give more room for targets but I tend to play pretty safe when the 0000s and 0500s come up. I've now taken a small buy after we held on the 5000 level.

http://img705.imageshack.us/img705/8835/gu001.gif
  • #1,128
  • Mar 9, 2010 2:44am Mar 9, 2010 2:44am
Well, out of that small long for a miniscule loss. Knew it was a riskier play, hence the small position. By the way, I've seen Medici checking out the thread a bit over the last few days.

Maybe he's thinking of jumping back into the fray? Could always use some more viewpoints from seasoned FO / LO traders. Hope you got your trading back on track Medici.
  • #1,129
  • Mar 9, 2010 11:51pm Mar 9, 2010 11:51pm
Quoting Vantage
Loading that TS was a big mistake, methinks we're heading for WS1 around 4920, TWT.
And I wasn't around for most of the day to take advantage, at least got 1 trade in yesterday.
  • #1,130
  • Mar 10, 2010 12:23am Mar 10, 2010 12:23am
Really struggling to go above 4981, the double top. Last 1 hr was a doji. 15 min hammer followed by lower vol push up that couldn't go higher.
  • #1,131
  • Mar 10, 2010 12:24am Mar 10, 2010 12:24am
Wow 2 weeks ago my mum had brain surgery, a (bleeding internally) tumour was removed and now shes pottering around the house under her own steam. Amazing!!!!! 83 years young.
  • #1,132
  • Mar 10, 2010 12:31am Mar 10, 2010 12:31am
Lost connection with platform and missed sell that we were waiting for.
  • #1,133
  • Mar 10, 2010 12:35am Mar 10, 2010 12:35am
4 candles back shooting star followed by green positive close, but lower vol and couldn't break through above shooting star wick. The last closed 15 min candle is negative but again vol lower. Lets see what unfolds.
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  • #1,134
  • Mar 10, 2010 12:41am Mar 10, 2010 12:41am
Quoting Vantage
Lost connection with platform and missed sell that we were waiting for.
After the close of the 15 min green candle that had lower vol and stayed below shooting star wick This is the entry we were looking for (usually a low range hammer/shooting star, low range inside bar).

Unfortunately we lost connection.

It is a very good example of how we look at 15 min candles to aid our decisions.
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  • #1,135
  • Mar 10, 2010 2:08am Mar 10, 2010 2:08am
Missed the first move due to lost connection so the day has not been anywhere as good as it should have been.

Early London session has run 100 pips now so we are losing interest, we'll see if theres more trades that we like but due to the length of the run so early could well drift for 90 mins till UK news, TWT.
  • #1,136
  • Mar 10, 2010 2:16am Mar 10, 2010 2:16am
I've shown all the potential trades I could see ie every retrace up where you have a 1 min candle with a neg close (but no longish lower wick) and price moves on.

7 potential trades I saw. The 1st was prob a losing trade if you used a small stop. The last was a losing trade but that was right on the even number and we certainly didn't take/consider. So potentially 6 trades 1 loser ...............
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  • #1,137
  • Mar 10, 2010 2:18am Mar 10, 2010 2:18am
Quoting Vantage
I've shown all the potential trades I could see ie every retrace up where you have a 1 min candle with a neg close (but no longish lower wick) and price moves on.

7 potential trades I saw. The 1st was prob a losing trade if you used a small stop. The last was a losing trade but that was right on the even number and we certainly didn't take/consider. So potentially 6 trades 1 loser ...............
Forgot to add that the first trade I don't think Islander would have considered as its was such a short time from the move down to 4950 when the set up came, 2 mins only.
  • #1,138
  • Mar 10, 2010 4:27am Mar 10, 2010 4:27am
Heres my take on things today...
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  • #1,139
  • Mar 11, 2010 12:42am Mar 11, 2010 12:42am
1st trade of day, gu 5 min lh from the tough 4980ish area. Very tight lease looking for BE asap. Yesterday was a hammer, wierd deja vu daily candle going back to 2 March.
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  • #1,140
  • Edited 1:52am Mar 11, 2010 1:06am | Edited 1:52am
With WM2 just above the pivot around 4950 (which was my target for this trade) exited at +16 when it tried to reach 50 level and failed.
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