Attachments: Trading with Deadly Accuracy

Trading with Deadly Accuracy

#761
Apr 2, 2010 6:57am Apr 2, 2010 6:57am

Flo
| Joined Sep 2008 | Status: Trader | 37 Posts

@ikssde: Yes i took this trade. Always nice when price moves in your favour that quickly.

#762
Apr 5, 2010 6:21am Apr 5, 2010 6:21am

alter
| Joined Jul 2008 | Status: Trader | 450 Posts

Hello
WMD posted some charts at the beginning of the thread. After 2-3 months these levels were hit but there were no reaction. For example NZDUSD at 0.6890 or gold at 1070.80. What is conclusion after u have seen these failed setups?
Eventually one could wait for conservative entry but it probably wouldn't make any difference as u can see from 5-15min TF.

#763
Apr 5, 2010 6:52am Apr 5, 2010 6:52am

plasmapants
| Joined May 2008 | Status: do i look confused? | 616 Posts

heres gold when it fell to 1070. As far as i can tell the first reaction from the region was for 90 dollars and the second time it was 50 dollars. i also remember wmd signalling short when gold price was approaching 1200. so not sure what you are referring too?

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bull in a china shop

#764
Apr 5, 2010 6:54am Apr 5, 2010 6:54am

Flo
| Joined Sep 2008 | Status: Trader | 37 Posts

Aud/Usd 15 minutes.
An opportunity to go long maybe. Let's see again!

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#765
Apr 5, 2010 6:57am Apr 5, 2010 6:57am

plasmapants
| Joined May 2008 | Status: do i look confused? | 616 Posts

potential cad trade. again looking for a move up from lower trendline.

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bull in a china shop

#766
Apr 5, 2010 8:49am Apr 5, 2010 8:49am

Flo
| Joined Sep 2008 | Status: Trader | 37 Posts

Hey traders.
Again we got rewarded:

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Flo

#767
Apr 5, 2010 9:27am Apr 5, 2010 9:27am

alter
| Joined Jul 2008 | Status: Trader | 450 Posts

Quoting plasmapants

Disliked

heres gold when it fell to 1070. As far as i can tell the first reaction from the region was for 90 dollars and the second time it was 50 dollars. i also remember wmd signalling short when gold price was approaching 1200. so not sure what you are referring too?

Ignored

First reaction that u are referring to was from 1074 which is not a level that we were looking at.
The Level that I was talking about is on the chart. NZDUSD was the same example so Im just asking if Im missing something with my interpretation.
Thank u

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#768
Apr 5, 2010 9:59am Apr 5, 2010 9:59am

plasmapants
| Joined May 2008 | Status: do i look confused? | 616 Posts

Quoting alter

Disliked

First reaction that u are referring to was from 1074 which is not a level that we were looking at.
The Level that I was talking about is on the chart. NZDUSD was the same example so Im just asking if Im missing something with my interpretation.
Thank u

Ignored

imo, the purpose of this method is to try and identify where buy/sell orders will be. i dont think its necessary to be exact to the pip, but its more a case of deciding a zone where you are prepared to trade.

the nzd looks like it was about 90 pips out, but it gave 300 pips after that, so if it were taken as a long zone it would have been a pretty good trade.

bull in a china shop

#769
Apr 5, 2010 10:30am Apr 5, 2010 10:30am

alter
| Joined Jul 2008 | Status: Trader | 450 Posts

Quoting plasmapants

Disliked

imo, the purpose of this method is to try and identify where buy/sell orders will be. i dont think its necessary to be exact to the pip, but its more a case of deciding a zone where you are prepared to trade.

the nzd looks like it was about 90 pips out, but it gave 300 pips after that, so if it were taken as a long zone it would have been a pretty good trade.

Ignored

Well that is different approach to WMD as he recommended Sl to be 10times your spread on any pair.
So yes if u use wide SL u could hold on these trades but normally probably not.

#770
Apr 5, 2010 11:32am Apr 5, 2010 11:32am

plasmapants
| Joined May 2008 | Status: do i look confused? | 616 Posts

i can see how stops would be an issue. 10 times spread would have covered me 60-70 pips on nzd. question is wether it would have been suitable for an aggressive entry.

bull in a china shop

#771
Apr 5, 2010 12:20pm Apr 5, 2010 12:20pm

Flo
| Joined Sep 2008 | Status: Trader | 37 Posts

Hey again! Maybe another long opportunity is in developement.
It's a little later now and maybe there isn't much steam left.
Here it is:

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Flo

#772
Apr 5, 2010 1:54pm Apr 5, 2010 1:54pm

alter
| Joined Jul 2008 | Status: Trader | 450 Posts

Quoting plasmapants

Disliked

i can see how stops would be an issue. 10 times spread would have covered me 60-70 pips on nzd. question is wether it would have been suitable for an aggressive entry.

Ignored

Conservative entry would probably fail as well, as price went below the level for about 10 pips and then up to pick up an order. But this is not important, every strategy has a losers there is no need to defend these two setups. It would be better just to clarify if it was just a loser or I misinterpreted the strategy.

#773
Apr 5, 2010 1:56pm Apr 5, 2010 1:56pm

alter
| Joined Jul 2008 | Status: Trader | 450 Posts

Quoting Flo

Disliked

Hey again! Maybe another long opportunity is in developement.
It's a little later now and maybe there isn't much steam left.
Here it is:

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Flo

Ignored

Hello Flo
I see the level and the hook but price has never made HH to take out the hook. What does it mean to u?

#774
Apr 5, 2010 2:30pm Apr 5, 2010 2:30pm

Flo
| Joined Sep 2008 | Status: Trader | 37 Posts

Quote

Disliked

Hello Flo
I see the level and the hook but price has never made HH to take out the hook. What does it mean to u?

Hey Alter,
"price" broke out of this area very quickly (imbalance). The level below was hit a couple of times. I think these are some reasons to maybe take the trade...

Is there someone else who knows more about the "importance of hooks"? (Captain Hook maybe?)

#775
Apr 5, 2010 2:41pm Apr 5, 2010 2:41pm

alter
| Joined Jul 2008 | Status: Trader | 450 Posts

I think there were some news. But after price accelerated from the level and made the hook , we could
- take first retest of the area
- if area is not tested, price will make HH which signals continuation of the trend. If next retracement will hit breakout area this would be entry. ,

Now we can ask if acceleration from the level is enough to be convinced about the strength of the level, or we should see specific price behavior after the breakout.

#776
Apr 5, 2010 3:04pm Apr 5, 2010 3:04pm

Flo
| Joined Sep 2008 | Status: Trader | 37 Posts

To come back to the hook quickly. If you would move down to lower timeframes you would find the hooks of course.

I think it's especially important for the level not to be tested because of a nice breakout...

#777
Edited 6:01pm Apr 5, 2010 5:22pm | Edited 6:01pm

plasmapants
| Joined May 2008 | Status: do i look confused? | 616 Posts

Quoting alter

Disliked

Conservative entry would probably fail as well, as price went below the level for about 10 pips and then up to pick up an order. But this is not important, every strategy has a losers there is no need to defend these two setups. It would be better just to clarify if it was just a loser or I misinterpreted the strategy.

Ignored

i think for conservative entry there should be a reversal pattern first and for aggressive there should be a trendline. i've seen some people use fibs and bollingers for secondary confirmation aswell.

its easier in hindsight, but the lower trendline would have been my ideal entry. plus avoid standing in the way of a vertical drop that price was doing.

dont get me wrong. i think theres some discresion involved in this style of trading. just a case of putting it all together because its not just about the bop and hooks.

edit: there are some better examples of stuff that didn't work out earlier in the thread. eurojpy was one of them.

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