Islander and Medici trade the European open | Page 66 | Forex Factory

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Islander and Medici trade the European open

  • #1,301
  • Apr 7, 2010 3:02am Apr 7, 2010 3:02am
Much better than me today, 2 BE trades, not taken at the extremes, after decent-ish 5 min candles that didn't lead to the break out.
  • #1,302
  • Apr 7, 2010 3:18am Apr 7, 2010 3:18am
Quoting Vantage
Much better than me today, 2 BE trades, not taken at the extremes, after decent-ish 5 min candles that didn't lead to the break out.
I'm curious Vantage, what made you take these trades? I know you look to the higher TFs to judge direction prior to making your entries off the 5min, but I personally didn't like the higher TF action and wasn't able to get a good sense of the direction so I stood to the side. Just wondering what made you feel price was likely to break.

I did however take a long at the 5min double low off DP though which I'm still in for +40 right now so at least I've taken something out of this mess. These last couple days haven't been the easiest to trade...
  • #1,303
  • Apr 7, 2010 3:18am Apr 7, 2010 3:18am
Quoting Islander
So far we've had 4 tradeable swings in the 30 pip channel thats around the 5250 / 5225 levels and currently we are in the 5th swing. I'm happy taking 10 - 15 pips a swing whilst looking for clues as to which way it will breakout.....as there are long tails / wicks both above and below on the 5 min chart I'm non the wiser.....IF this 5 th swing stays as a HL above the DP this would suggest an upside break.....TWT....


Patience was rewarded - after half an hour of sideways consolidation with the HL holding, price finally broke up and has so far got to the 75 level which may hold till news time in 15 mins.....I'm now flat.....
Trading Levels with WRBs
  • #1,304
  • Apr 7, 2010 3:27am Apr 7, 2010 3:27am
Chart for this morning's session....I didnt take the last buy off the days open level, too close to the news....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #1,305
  • Apr 7, 2010 3:33am Apr 7, 2010 3:33am
Quoting Auron112
I'm curious Vantage, what made you take these trades? I know you look to the higher TFs to judge direction prior to making your entries off the 5min, but I personally didn't like the higher TF action and wasn't able to get a good sense of the direction so I stood to the side. Just wondering what made you feel price was likely to break.

I did however take a long at the 5min double low off DP though which I'm still in for +40 right now so at least I've taken something out of this mess. These last couple days haven't been the easiest to trade...
1st sell if I recall was a hammer on 15 min that failed ie it went below lower wick, also a 5 min lh. 2nd sell another lh reject of the then top 5255 area.

I was away from computer (making tea and getting mum her medicine) so unfortunately missed the dble bttm above 5225 that some of you got.

Nice trading guys.
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  • #1,306
  • Apr 7, 2010 3:41am Apr 7, 2010 3:41am
Quoting Auron112
I'm still in for +40 right now so at least I've taken something out of this mess. These last couple days haven't been the easiest to trade...
Exactly and sounds like you (and me and others here) are overall up. Thinking back I've no doubt in earlier trading days, I'd have been down taking wrong trades in all this chop.

That in itself is not too shabby. This mess will clear and some very good set ups will emerge, they always do.
  • #1,307
  • Apr 7, 2010 3:44am Apr 7, 2010 3:44am
Quoting Vantage
Exactly and sounds like you (and me and others here) are overall up. Thinking back I've no doubt in earlier trading days, I'd have been down taking wrong trades in all this chop.

That in itself is not too shabby. This mess will clear and some very good set ups will emerge, they always do.
Just had a quick look whilst I am (way) below daily/week target so far for this holiday interrupted month not one losing trade so far.
  • #1,308
  • Apr 7, 2010 3:50am Apr 7, 2010 3:50am
LOL - anyone think that some big dogs knew that the news was poor.....a little fakeout up to sell at a higher price and then early news and a 55 pip drop in 3 mins....now I wonder if they've been buying the DP area.....
Trading Levels with WRBs
  • #1,309
  • Apr 8, 2010 2:29am Apr 8, 2010 2:29am
GM - took a short at LO on a bounce off Islanders favourite 30 EMA which was at confluence with a RN (and a Pin Bar). Out +45. Missed the earlier action at FO.
  • #1,310
  • Apr 8, 2010 2:30am Apr 8, 2010 2:30am
Edit +35
  • #1,311
  • Apr 8, 2010 2:33am Apr 8, 2010 2:33am
2 trades here, details posted on hl/lh thread. Following D'sO working ike an absolute charm so far, Ok well after 2 days LOL!!

Very nice trading orientos.
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  • #1,312
  • Apr 8, 2010 3:25am Apr 8, 2010 3:25am
I did the 30 ema short again. Out +15 near the 50 RN - too soon it appears.
  • #1,313
  • Apr 8, 2010 3:37am Apr 8, 2010 3:37am
Quoting orientos
I did the 30 ema short again. Out +15 near the 50 RN - too soon it appears.
Nice one, good set up we decided to leave it being so close to news.
  • #1,314
  • Apr 8, 2010 3:37am Apr 8, 2010 3:37am
When the 50 RN looked like it was not holding I reversed long and 'bingo" up went price in a matter of seconds. Despite a big note on one of my monitors I forgot there was news. Out +27 Despite the win I am not proud of this trade as I am ALWAYS out before news. Well, usually................
  • #1,315
  • Apr 9, 2010 1:53am Apr 9, 2010 1:53am
GM - when the earlier low held making a double bottom, it was an easy buy half an hour before FO for a 55 pip rally that ended after an average green marbozo that failed to follow thru'......

The subsequent retrace halted at the confluence of the days open, yesterdays high and MR1 levels - just below the now rising slow ema....a nice area for a buy.....the high volume wide ranged 5m candle had a good downside wick, suggesting hidden buying.....TWT
Trading Levels with WRBs
  • #1,316
  • Apr 9, 2010 2:17am Apr 9, 2010 2:17am
Quoting Islander
GM - when the earlier low held making a double bottom, it was an easy buy half an hour before FO for a 55 pip rally that ended after an average green marbozo that failed to follow thru'......

The subsequent retrace halted at the confluence of the days open, yesterdays high and MR1 levels - just below the now rising slow ema....a nice area for a buy.....the high volume wide ranged 5m candle had a good downside wick, suggesting hidden buying.....TWT
Then 10 mins later there was a HL off the slow ema and off it went for another 50 pip rally......LOL, it doesnt get any better than this....

Edit: - the last rally has so far stopped at the 5325 / R1 confluence
Trading Levels with WRBs
  • #1,317
  • Apr 9, 2010 2:35am Apr 9, 2010 2:35am
GM Islander. Well, I just didn't see the first long you took, but I sure do in hindsight. Nice trade. My only trade today has been a long off a HL on the M1 that was at confluence with the 150 EMA ( ie, same as the 30 ema on the M5) Out for +15.
  • #1,318
  • Apr 9, 2010 2:43am Apr 9, 2010 2:43am
Quoting orientos
GM Islander. Well, I just didn't see the first long you took, but I sure do in hindsight. Nice trade. My only trade today has been a long off a HL on the M1 that was at confluence with the 150 EMA ( ie, same as the 30 ema on the M5) Out for +15.

Well done on catching the second trade - I was late into the first entry after a lazy start - I actually bought as it broke the earlier high, but still put pips into the bank....I'm finished for this morning, I'll take a look at NYO.....BFN
Trading Levels with WRBs
  • #1,319
  • Apr 13, 2010 1:28am Apr 13, 2010 1:28am
GM - the Asian Session made a double bottom at 5334 - just below the 38% retrace and above last weeks high of 5319.

For the earlybirds there was a nice HL an hour before FO, then around FO price held around the days open level of 5364 and I bought off this level, exiting after the wide ranged green marubozo for a good 20+ pips to start my day.

I'm now waiting for the mid FH pull back....
Trading Levels with WRBs
  • #1,320
  • Apr 13, 2010 1:46am Apr 13, 2010 1:46am
Hi Islander,

I managed to find that trade myself, good start to the day
Money grows on the tree of persistence
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