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profitable Zigzag

  • #201
  • Apr 11, 2010 6:29pm Apr 11, 2010 6:29pm
Quoting mistersimple
if we take a crow looking down (beak down)
"normally"
leg-to-head=61.8% of tail-to-leg
head-to-beak = 161.8% leg-to-head
------------------------------
so doing maths => we got head-to-beak: 61.8%x161.8% of tail-to-leg => almost equal to tail-to-leg => could help to identify beak..
but it's not always like that.. only for a "good" setup. (eg GJ H1 you cant miss it from April5 13:00 GMT to April8 07:00 GMT )

PS u got these figures if u use ZUP indicator..
Yes. This definitley helps in identifying beak..
So Once we identified tail, leg and head.. we can start looking for the formation on beak. Do you expect some consolidation at beak ?

Also, I believe you mentioned this setup can be applied to any pair, right ?
best timeframe are 30 Min and above..


PS: I have not used ZUP indicator yet.
  • #202
  • Apr 12, 2010 1:42am Apr 12, 2010 1:42am
GM all,

In my quest to conquer the Crow, here is what I think is a crow formation on a GBPUSD 4hour chart 12 April.

Any comments...

M
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 4hour Crow.jpg Size: 68 KB
To keep trading, even when it gets hard.
  • #203
  • Apr 12, 2010 2:06am Apr 12, 2010 2:06am
Hi

Here are my orders for today,

Not too happy about the risk/reward = 86 pips

M
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 12 April Triggers.jpg Size: 76 KB
To keep trading, even when it gets hard.
  • #204
  • Apr 12, 2010 2:34am Apr 12, 2010 2:34am
Quoting MichaelSA
Hi

Here are my orders for today,

Not too happy about the risk/reward = 86 pips

M
Hi all, and wish you all good week!

MichaelSA, that's really interesting that our ZZ are different on 5m time frame. Look what i have, and only 59 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: bu5m.gif Size: 9 KB
  • #205
  • Apr 12, 2010 3:55am Apr 12, 2010 3:55am
Quoting MichaelSA
GM all,

In my quest to conquer the Crow, here is what I think is a crow formation on a GBPUSD 4hour chart 12 April.

Any comments...

M
Hi M,

The initial retracement (the leg to the head) may be a bit too shallow, I guess. According to mistersimple, it has to be around 61.8.

http://www.forexfactory.com/showthre...227018&page=10

http://www.forexfactory.com/showpost...&postcount=199

Cheers,
  • #206
  • Apr 12, 2010 12:30pm Apr 12, 2010 12:30pm
Quoting Far East Man
Hi M,

The initial retracement (the leg to the head) may be a bit too shallow, I guess. According to mistersimple, it has to be around 61.8.

http://www.forexfactory.com/showthre...227018&page=10

http://www.forexfactory.com/showpost...&postcount=199

Cheers,
it will work anyway.. important is beak above legs in this case (GU 4h)
it already corrected.. so at least to 1.5275 => and if move further down => 1.5149
  • #207
  • Apr 12, 2010 12:34pm Apr 12, 2010 12:34pm
Quoting dzero
Hi all, and wish you all good week!

MichaelSA, that's really interesting that our ZZ are different on 5m time frame. Look what i have, and only 59 pips.
Hi Cprao,

Your ZigZag seems to be more sensitive- are you still using 13,5,5 setting or have you changed it to 12,3,5 (as said by mistersimple)?

Did you trade your set up this morning?

M
To keep trading, even when it gets hard.
  • #208
  • Apr 12, 2010 12:45pm Apr 12, 2010 12:45pm
Quoting Far East Man
Thank you for the info, Rastaman!

Hmmmm.... I had never noticed this broker. Looks ok to me, too.

By the way, did anyone take EU long somewhere? I love double tops and bottoms. And I love taking it in the middle where the W is still under developement. Nothing to do with this thread, though. Although the formation is really conventional and nothing is new, it's really easy to identify and works fairly fine.

Attachment
Hi Far East Man,

Great start to the week, congrats.

Let us know how it ends

M
To keep trading, even when it gets hard.
  • #209
  • Apr 12, 2010 12:51pm Apr 12, 2010 12:51pm
Hi all,

The sell order from this morning is still open, and the day is pretty much over.

So I have moved the SL to BE +1 and cancelled the buy order.

Time will tell how the trade unfolds.

M
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 12 April Update.jpg Size: 74 KB
To keep trading, even when it gets hard.
  • #210
  • Apr 12, 2010 1:04pm Apr 12, 2010 1:04pm
Quoting MichaelSA
Hi Cprao,

Your ZigZag seems to be more sensitive- are you still using 13,5,5 setting or have you changed it to 12,3,5 (as said by mistersimple)?

Did you trade your set up this morning?

M
Yes, my settings are 13,5,5.
I didn't trade this set up, as i was not sure how this big gap will play out. So i am waiting tomorrow morning to see possibility to get in.
  • #211
  • Apr 12, 2010 2:54pm Apr 12, 2010 2:54pm
Quoting MichaelSA
Hi Cprao,

Your ZigZag seems to be more sensitive- are you still using 13,5,5 setting or have you changed it to 12,3,5 (as said by mistersimple)?

Did you trade your set up this morning?

M
M,

Mi zigzag is 13,5,5.. no I have not traded today ..
  • #212
  • Edited 2:05am Apr 13, 2010 1:29am | Edited 2:05am
Morning all,

Woke up this morning to find my trade from yesterday still open. So I made a decision to close it @ +25Pips

Net Pips to date = 126Pips

M

Edit- Maybe I should have left it open- there is a clear rejection of 1.5400 at Frankfurt Open
To keep trading, even when it gets hard.
  • #213
  • Apr 13, 2010 1:43am Apr 13, 2010 1:43am
Quoting dzero
Yes, my settings are 13,5,5.
I didn't trade this set up, as i was not sure how this big gap will play out. So i am waiting tomorrow morning to see possibility to get in.
Hi dzero,

Just saw that you put up the chart for comparison, sorry.

If our settings are the same, I wonder why the ZZ is different? Maybe down to the broker?

M
To keep trading, even when it gets hard.
  • #214
  • Apr 13, 2010 2:07am Apr 13, 2010 2:07am
Morning all,

Here are my trades for today.


Risk/Reward 62 pips.

M
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 13 April set up.jpg Size: 76 KB
To keep trading, even when it gets hard.
  • #215
  • Apr 13, 2010 2:16am Apr 13, 2010 2:16am
Quoting MichaelSA
Hi dzero,

Just saw that you put up the chart for comparison, sorry.

If our settings are the same, I wonder why the ZZ is different? Maybe down to the broker?

M
Hi Michael

I think that it can be on that big gap which we had on market opening, and there can be some data feed difference.

Today I am already in GBP/USD long, lets see if I am to early, because lasts ZZ formed just 10 minutes after London open and I open on previous ZZ, and put a new pending to buy on brake new ZZ.
  • #216
  • Apr 13, 2010 5:25am Apr 13, 2010 5:25am
Quoting dzero
Hi Michael

I think that it can be on that big gap which we had on market opening, and there can be some data feed difference.

Today I am already in GBP/USD long, lets see if I am to early, because lasts ZZ formed just 10 minutes after London open and I open on previous ZZ, and put a new pending to buy on brake new ZZ.
Hi dzero,

Could you post a chart?

Thanks

M
To keep trading, even when it gets hard.
  • #217
  • Apr 13, 2010 5:43am Apr 13, 2010 5:43am
Hi all,

The buy order was triggered and is currently sitting at about +25pips.

I have moved my SL to BE +1pip (1.5398), TP still 1.5461 and cancelled my sell order, as I am going on a business trip now and will only be back on Thursday

GL all

M
To keep trading, even when it gets hard.
  • #218
  • Apr 13, 2010 6:15am Apr 13, 2010 6:15am
Quoting MichaelSA
Hi dzero,

Could you post a chart?

Thanks

M

so, here you have my trade plan and how i manage today's trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gu5m.jpg Size: 112 KB
  • #219
  • Apr 13, 2010 7:04am Apr 13, 2010 7:04am
Quoting dzero
so, here you have my trade plan and how i manage today's trade.
Hi,

Thanks.

GL to us all

M
To keep trading, even when it gets hard.
  • #220
  • Apr 13, 2010 8:14am Apr 13, 2010 8:14am
Quoting MichaelSA
Hi,

Thanks.

GL to us all

M
Close last buy with small profit, brake was not as strong as expected, rest SL place under present ZZ highs.
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