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  • #274,821
  • Jul 24, 2010 11:56am Jul 24, 2010 11:56am
Quoting fontu
Seeing MM also , Daily tf price failed break & hold 5/8 MM top trading range before but failed to bo more deep towards 3/8 MM & back before major SR 4/8MM to test back top trading range again . Break & hold this level at 1.2939 should signal eu as bullish daily level & other higher levels likely test 1.3005 & 1.3060 , 1.3121 & 1.3183 etc .
In h4 price break up & hold 1.3061 as 3/8mm bottom trading range to enter the trading range between 3/8-5/8 mm ,major sr being 1.3183 4/8mm.This major sr[color=red][b]...
Murray the inventor of murray math devised an arbitrary set of parameters , then looked for equities that so happened to coincide with them, discarding those equities that didn't during a sampling period. In other words out of 100 equities he would send an email informing us about the 5 that his his arbitrary SR lines, failing to tell us about the 95 that didn't work as predicted by his theory. This is known as data-snooping bias, look it up on wikipedia
  • #274,822
  • Jul 24, 2010 12:30pm Jul 24, 2010 12:30pm
Quoting StephanusR
Murray the inventor of murray math devised an arbitrary set of parameters , then looked for equities that so happened to coincide with them, discarding those equities that didn't during a sampling period. In other words out of 100 equities he would send an email informing us about the 5 that his his arbitrary SR lines, failing to tell us about the 95 that didn't work as predicted by his theory. This is known as data-snooping bias, look it up on wikipedia
Thanks for the information , not know how the inventor doing or did practically but I see it an interesting & helpfull system in understanding market infrastructure as we see in charts with integrated properties of each zones/lines of sr & use those properties into possible price action & prediction, person specific . so this not for prediction of pa & we use them as our own within our own understanding of price action .
so when using mm as prediction tool can be different person to person as itself not any prediction tool I think.

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #274,823
  • Jul 24, 2010 12:45pm Jul 24, 2010 12:45pm
Quoting mfoste1
hey fontu, hope ur having a good weekend my friend.....1.3183 came up as a mentionable bear number for me as well in a few analysis methods I did this past week.
Thanks , you too.
Yes 1.3183 is as a good no. for the reversal or pullback towards 1.2883/28 tl & if reach this line it actually may cross this line & so the actual sr daily level is 1.3214.lets see what next .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #274,824
  • Jul 24, 2010 1:42pm Jul 24, 2010 1:42pm
Hey guys Ill be off for a little summer holiday. Trade well and watch out for 3062, 3183. See u in 7 days

T
  • #274,825
  • Jul 24, 2010 2:02pm Jul 24, 2010 2:02pm
Quoting T@rantula
Hey guys Ill be off for a little summer holiday. Trade well and watch out for 3062, 3183. See u in 7 days

T
Enjoy Bro
  • #274,826
  • Jul 24, 2010 2:53pm Jul 24, 2010 2:53pm
Quoting Jhig
You know I'm posting that chart on the "Charts on Drugs" thread. LOL

http://www.forexfactory.com/showthread.php?t=185027
yeah, you can lol yourself if you have no answer, for sure
No crystal ball. I read the cards.
  • #274,827
  • Jul 24, 2010 3:06pm Jul 24, 2010 3:06pm
Quoting fontu
Thanks , yes ,I think so .
2nd part actually I also started count like this but when I see the 3rd wave smaller than wave 1 & even than 5 if count this way ,so discarded & rearrange waves as is still in wave 3 ,waiting last leg up to end III of 3 that as 5th failure ( not think though ) or extend or might be little different in wave 3 also . I am no expert in ew just use at times .
Thanks ,
fontu
thanks, understood, any way, that was a "try" - I don't believe in strong dependency between size of wave in theory and in reality - is very rare to be systematic.
No crystal ball. I read the cards.
  • #274,828
  • Jul 24, 2010 6:37pm Jul 24, 2010 6:37pm
If you are looking for something simple and age old, tried and true. If you are looking short term and being Sunday night, yes the 2880 area is a good shot. As I have said before, Euro is a 50% Fib monster and guys you can do this on any timeframe. Yes, it looks like a top has formed but you cant be sure because it is a Friday close. However, if it is a top we will know pretty quick tomorrow, then we can look at these 3 areas to buy with a T/P at the zero line. VERY SIMPLE STUFF.

Now, this will all change with a break of 1.2929

Quoting fontu
Thanks , you too.
Yes 1.3183 is as a good no. for the reversal or pullback towards 1.2883/28 tl & if reach this line it actually may cross this line & so the actual sr daily level is 1.3214.lets see what next .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 18 KB
  • #274,829
  • Jul 24, 2010 6:41pm Jul 24, 2010 6:41pm
We see a gap down below 1.2880 what happens then? Do we assume gap gets filled?
  • #274,830
  • Jul 24, 2010 6:54pm Jul 24, 2010 6:54pm
Personally, I see a gap down there I play the scenario right on out. But if there is a gap I believe it will be up. Then I will back off and wait for an established top and start the whole thing over again with the new top. NOTHING CHANGES, if a new high is not made. Think about the facts: We are in an uptrend long term. We are above the daily UTL and haven't formed a higher high. When this happens I use the old addage: What goes down must come up...LOL Yes, I am buying dips and selling tops.

The reason for the smaller time frame is because people were telling me how they had small accounts and they were overleveraging their accounts and I am just trying to show them a less risky way to trade. The scenario on the chart risks about 80 pips with a potential profit of about 200 pips with the trend, and you can't beat the R & R.

Jim

Quoting gotpips92
We see a gap down below 1.2880 what happens then? Do we assume gap gets filled?
  • #274,831
  • Jul 24, 2010 7:02pm Jul 24, 2010 7:02pm
I tell my students to change to a micro account and scale in .01 at a time. And yes you need to make the 38.2 % buy because enough times it will turn at this level and if it does, you will still get some profit. If you trade the scenario above using .01 at each level you will risk approximately $9.20 with a potential profit of $19.00. Then you build as you go.

Jim
  • #274,832
  • Jul 24, 2010 7:07pm Jul 24, 2010 7:07pm
Quoting Nene
I tell my students to change to a micro account and scale in .01 at a time. And yes you need to make the 38.2 % buy because enough times it will turn at this level and if it does, you will still get some profit. If you trade the scenario above using .01 at each level you will risk approximately $9.20 with a potential profit of $19.00. Then you build as you go.

Jim
Okay. Thank you for the thoughts
  • #274,833
  • Jul 24, 2010 7:11pm Jul 24, 2010 7:11pm
Quoting Nene
I tell my students to change to a micro account and scale in .01 at a time. And yes you need to make the 38.2 % buy because enough times it will turn at this level and if it does, you will still get some profit. If you trade the scenario above using .01 at each level you will risk approximately $9.20 with a potential profit of $19.00. Then you build as you go.

Jim
Jim, with all due respect it's pretty safe stating to scale in at .01. IMHO, if you're scaling in on a 15m or less time frame you need to re-evaluate your trading method.

I don't have anything against scaling in on longer time frames.
  • #274,834
  • Jul 24, 2010 7:19pm Jul 24, 2010 7:19pm
Chart#1: Look at the first chart as the day begins, ( Red Vertical line ). I see the last high made was at 1.2774 and the last low at 1.2732,( Yellow Lines). We are looking for the next high or the next low.

Chart#2: Got the top and all 3 levels are broken with one candle, if you cant get all three in you can place a buy at 61.8% of .03 with the stop below the last high.

Chart#3: It dont take long and you cash out.
Attached Image(s) (click to enlarge)
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  • #274,835
  • Jul 24, 2010 7:21pm Jul 24, 2010 7:21pm
Hey, This works on all timeframes. These guys have asked me for some help, so please dont ruin this for them. I get I.M.'s all day and I figure this is the best time.

Quoting GulfCoastPip
Jim, with all due respect it's pretty safe stating to scale in at .01. IMHO, if you're scaling in on a 15m or less time frame you need to re-evaluate your trading method.

I don't have anything against scaling in on longer time frames.
  • #274,836
  • Jul 24, 2010 7:23pm Jul 24, 2010 7:23pm
If it pulls back wihout hitting at leat the 38.2% fib level and makes a new top you make anew bottom also. see chart below

Quoting Nene
Chart#1: Look at the first chart as the day begins, ( Red Vertical line ). I see the last high made was at 1.2774 and the last low at 1.2732,( Yellow Lines). We are looking for the next high or the next low.

Chart#2: Got the top and all 3 levels are broken with one candle, if you cant get all three in you can place a buy at 61.8% of .03 with the stop below the last high.

Chart#3: It dont take long and you cash out.
Attached Image (click to enlarge)
Click to Enlarge Name: cht3.gif Size: 26 KB
  • #274,837
  • Jul 24, 2010 7:31pm Jul 24, 2010 7:31pm
Here is another trade that comes thru wth flying colors. And he is right aout the scaling in and it should be kept to the higher timeframes, but I have done it befoe and I am just trying to give the new guys a little bit from both worlds. Could I just by at 50 or 61.8% fib level, the answer is yes. But I am sure you will find it more interesting and learn a lot more.

Jim
Attached Image (click to enlarge)
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  • #274,838
  • Jul 24, 2010 7:31pm Jul 24, 2010 7:31pm
Quoting Nene
Hey, This works on all timeframes. These guys have asked me for some help, so please dont ruin this for them. I get I.M.'s all day and I figure this is the best time.
Alright Jim, the floors yours for the time being. I'll turn my ears off. I still stand by my comments though.

Quoting GulfCoastPip
Jim, with all due respect it's pretty safe stating to scale in at .01. IMHO, if you're scaling in on a 15m or less time frame you need to re-evaluate your trading method.

I don't have anything against scaling in on longer time frames.
  • #274,839
  • Jul 24, 2010 7:33pm Jul 24, 2010 7:33pm
Here is the third trade with no losers.
Attached Image (click to enlarge)
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  • #274,840
  • Jul 24, 2010 7:41pm Jul 24, 2010 7:41pm
Here is the last trade that could be traded that day that spills into Friday. However, it does cash out. So that is just a little simple way to trade that was taught to me by a guy name Money Duck. It works on all timeframes and when you bring your trendlines into play you can the feel for subtle changes in immediate trend.

For all who sent me I.M.'s I appreciate it and I hope I helped some of you guys with the small accounts.
Attached Image (click to enlarge)
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