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A,B,C,D - 1,2,3,4 System

  • #1,681
  • Apr 2, 2010 12:22am Apr 2, 2010 12:22am
Quoting soyabean
Seems like a good area to go short, nice bearish engulfing candle at 38.2 retrace and testing previous support turned resistance.
It was, indeed, a very nice trade. It is a shame that after that SNB's intervention took your SL, but at least you could had taken 70 pips, easily. Right now that down TL looks as a very nice place where, if we have a candlestick pattern, will trigger a short!
  • #1,682
  • Apr 2, 2010 12:39am Apr 2, 2010 12:39am
On these days, risk aversion is what, in my opinion, has ruled the market. All USD pairs have been moving to the same direction (with few exceptions), and right now, in the moment when I am writing this post, pairs like EURUSD, GBPUSD, AUDUSD are all beginning to show some USD strength again (small bearish engulfings around yesterday's high, in 1H).

It is a pity that tomorrow NFP will, probably, make useless most and maybe all of following pairs on nice TL's (which, under other conditions, might bring us very nice trades with their candleticks patterns):

USDCAD 4H

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EURGBP 4H

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AUDUSD 1H

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EURJPY 1H

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USDJPY 4H

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  • #1,683
  • Apr 2, 2010 1:35am Apr 2, 2010 1:35am
Quoting jedlanca
It was, indeed, a very nice trade. It is a shame that after that SNB's intervention took your SL, but at least you could had taken 70 pips, easily. Right now that down TL looks as a very nice place where, if we have a candlestick pattern, will trigger a short!
I took 56 pips to be exact at 127 ext
  • #1,684
  • Apr 2, 2010 1:43am Apr 2, 2010 1:43am
Quoting soyabean
I took 56 pips to be exact at 127 ext
Thought about taking the trade also...congrats.
  • #1,685
  • Apr 5, 2010 12:54am Apr 5, 2010 12:54am
Hi guys!
I hope you all had a good weekend.

Today, I entered long after this nice bullish bar was formed in 1H, buuuuut I did not see that in D1, we had a D1 Bearish Engulfing bouncing in the daily trendline! That might bully my trade, which I will close now in Breakavan. I'm attaching the D1 chart also.

Moreover, in USDCHF D1 we can observe a Morning Star, which we can say might be another signal that the USD will start gaining strengh soon.

EURUSD 1H

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EURUSD 1D

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  • #1,686
  • Apr 5, 2010 3:47am Apr 5, 2010 3:47am
Quoting jedlanca
Hi guys!
I hope you all had a good weekend.

Today, I entered long after this nice bullish bar was formed in 1H, buuuuut I did not see that in D1, we had a D1 Bearish Engulfing bouncing in the daily trendline! That might bully my trade, which I will close now in Breakavan. I'm attaching the D1 chart also.

Moreover, in USDCHF D1 we can observe a Morning Star, which we can say might be another signal that the USD will start gaining strengh soon.

EURUSD 1H

Attachment

EURUSD 1D

Attachment ...
As a matter of fact, the only trade I took today was a short with the same setup. As you rightly mentioned, the bias is short for Euro at the moment, we should be looking for bearish candles at fib retracements.
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  • #1,687
  • Apr 5, 2010 3:56am Apr 5, 2010 3:56am
Hi Jed,

My apologies for my late reply on EURGBP.

Well, technically we should not fuss over the 'perfect' TL. The major TL will be more appropriate in this context since it is more obvious to most traders.

However, I should point out that the purpose of drawing TL is to help us identify the buy and sell zones of a chart. In other words, it helps to determine the trend. Whether you drew the TL from the most recent wave, or from the "major" peaks, we will arrive at the same conclusion: the pair is currently trending down in the mid to short term.

This leads you to the next step of our analysis: start looking at recent levels of resistance and fib retracements. These levels will serve as possible reversal regions.

Finally, we wait for our trigger in a down trend: bearish candle patterns

I have posted my chart for your reference. I will like an evening star/bearish engulfing/tweezer top to form around the 50.0 level which has also served as past support turned resistance. That will be my trigger for a short entry.

Cheers
Nathan
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  • #1,688
  • Apr 6, 2010 11:12pm Apr 6, 2010 11:12pm
Quoting soyabean
Hi Jed,

......

Finally, we wait for our trigger in a down trend: bearish candle patterns

I have posted my chart for your reference. I will like an evening star/bearish engulfing/tweezer top to form around the 50.0 level which has also served as past support turned resistance. That will be my trigger for a short entry.

Cheers
Nathan
Thanks a lot, again, for your post! It answered my question
  • #1,689
  • Apr 8, 2010 1:25am Apr 8, 2010 1:25am
Right now, Ive just opened a short in NZDUSD 4H (I entered one bar late). Although at first sight this looks as a perfect setup from the ones we study in this thread, the only thing that gives me doubts is the fact that the last LL was a spike, which produced a very high momentum up movement which seemed to have ended with the Evening Star on the down TL. My doubt is the very strong momentum that that last swing had.

Having said that, here you have:

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  • #1,690
  • Apr 8, 2010 4:57am Apr 8, 2010 4:57am
Quoting jedlanca
Right now, Ive just opened a short in NZDUSD 4H (I entered one bar late). Although at first sight this looks as a perfect setup from the ones we study in this thread, the only thing that gives me doubts is the fact that the last LL was a spike, which produced a very high momentum up movement which seemed to have ended with the Evening Star on the down TL. My doubt is the very strong momentum that that last swing had.

Having said that, here you have:

Attachment
All the best! Sit tight though, it looks like this pair is in range at the moment, hope it will break south to help your trade
  • #1,691
  • Apr 8, 2010 8:34am Apr 8, 2010 8:34am
Overall its looking bearish for the pound, but i'm going long here... i don't usually enjoy picking bottoms, but the daily tweezers is really tempting. Trying to pick a bullish retrace against the long term bear trend.

Risky trade. May it be the beginning of a sweet bull move.
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  • #1,692
  • Apr 8, 2010 10:00am Apr 8, 2010 10:00am
I have a really strong bearish bias for UCAD. Its trading at parity now after it broke weekly support ard 1.028. Next possible support comes at 0.974 area, looks like its a good try to go short at a possible retrace.

A bearish engulfing is forming on my 4h chart, would've like the pair to retrace a little deeper to 50.0 or 61.8, but there is possible resistance level at 38.2 as well.

Other pairs that interest me at the moment include ECad and EAud. Two very similar set ups that are in a very strong bear trend. A retrace to continue the downtrend might be a good entry to rejoin the run.
Attached Image (click to enlarge)
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  • #1,693
  • Apr 26, 2010 2:46pm Apr 26, 2010 2:46pm
Hi Everyone,

I'm new to this system and have been looking at this thread over the past while, however only delving in and out. The system seems to work quite well, however i was wondering how often entries tend to occur and also how often you all tend to check charts and when? (ie. once a day and at night after the markets close GMT)


Any help or tips in using this system would also be greatly appreciated.

Thanks,

Simon.
  • #1,694
  • Jun 9, 2010 4:12pm Jun 9, 2010 4:12pm
Quoting si5584
Hi Everyone,

I'm new to this system and have been looking at this thread over the past while, however only delving in and out. The system seems to work quite well, however i was wondering how often entries tend to occur and also how often you all tend to check charts and when? (ie. once a day and at night after the markets close GMT)


Any help or tips in using this system would also be greatly appreciated.

Thanks,

Simon.
Hi, Simon! Sorry for the late answer, but it has been some weeks since I have had chance to check this thread (finishing my studies).

This is an interesting method that, as any other one, needs its practice to be mastered.

About your question, it depends on a lots of variables: how many pairs you are monitoring, how "demanding" you can became about what trades to take and which not and, of course, the market by itself. On some months, you can find dozens in several pairs, no matter how much demanding you might be, and in others you will find little.

I know that that answer is a bit ambiguos, but by checking the whole thread, I believe you will get a much better idea of how often you can find entries.

Something I have learned over the months is that, in the beginning, it is important to follow strictly the rules of a system, in order to master it (specially if it was created by another person). Although you might not get entries too often, it will allow you to gain discipline and, specially, obtain confidence about your trading, as you will be using a method that have proven to be succesfull. In my opinion, what should be the most important thing for a newbie is to find a way to "survive" the market, meanwhile he gets experienced enough to create his own set of rules, which will allow him to become more "flexible" to the kind of entries that are being taken or, at least, increasing the size the account that he is trading.

In my case, nowadays, after several weeks of working with a system similar to this one, I have had several hits that have reminded I should become demanding to the kind of trades I take, with strict rules, meanwhile I'm gaining the enough experience to create my "alternative" set of rules which, in based of the knowledge of the market and my personality, will allow me to evolve as a trader.

I hope that this could help you.
Jed
  • #1,695
  • Jun 16, 2010 2:21am Jun 16, 2010 2:21am
I have just put a long on NZDUSD, because of a 1H Bullish Engulfing on a TL.

Very simple.

Attached Image (click to enlarge)
Click to Enlarge Name: 2) nzdusd 1h 16-6-10.gif Size: 37 KB
  • #1,696
  • Edited 8:14pm Aug 11, 2010 6:38pm | Edited 8:14pm
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
HI Guys,

Just want to post another classic morning star purely for academic purposes.I hope whatever results you guys had, you could post for archives for future references..also, if you could spot the Pinocchio.I missed that one.

Can I say that the morning star or Pinocchio the Bearish Divergent Bar? Anyone?
Attached Image (click to enlarge)
Click to Enlarge Name: Classic Dra Morning Star Aug 11.jpg Size: 28 KB
  • #1,697
  • Aug 12, 2010 12:54am Aug 12, 2010 12:54am
Quoting Nimrod
HI Guys,

Just want to post another classic morning star purely for academic purposes.I hope whatever results you guys had, you could post for archives for future references..also, if you could spot the Pinocchio.I missed that one.

Can I say that the morning star or Pinocchio the Bearish Divergent Bar? Anyone?
Good to see some activity again hehe. Was Pinocchio a kind of tweezers? What is the Bearish Divergent Bar?
I read like the first third of this thread, and I do not remember any references of those.... or maybe I read too fast haha.
  • #1,698
  • Sep 9, 2010 1:10am Sep 9, 2010 1:10am
Is anybody there? Haven't seen any update notification email in a while, just wondering if anyone still follow or trades this system?
  • #1,699
  • Sep 9, 2010 1:41am Sep 9, 2010 1:41am
Quoting Dra
Is anybody there? Haven't seen any update notification email in a while, just wondering if anyone still follow or trades this system?
Yes still do,think the thread has just died a death though. May have to start posting up again!
  • #1,700
  • Sep 9, 2010 10:50am Sep 9, 2010 10:50am
Quoting Dra
Is anybody there? Haven't seen any update notification email in a while, just wondering if anyone still follow or trades this system?
Dra please let me know where i can contact you.
Do you have skype or any instant messenger?

Let me know i need to talk with you.

Thanks
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