GBP/JPY also looks good to me:
- #942
- Jul 27, 2010 8:20pm Jul 27, 2010 8:20pm
- #944
- Jul 28, 2010 7:06am Jul 28, 2010 7:06am
Might be a possibility developing on USD/CAD 1h for a long. But I need more confirmation.
Attachment
- #950
- Jul 28, 2010 9:37am Jul 28, 2010 9:37am
Might be a possibility developing on USD/CAD 1h for a long. But I need more confirmation.
Attachment
- #952
- Jul 28, 2010 7:04pm Jul 28, 2010 7:04pm
Long at 113.92 SL- 113.45 and TP 114.58 Set and forget
Price has been hanging round this area. 15mins TF soc turn and cross.
- #957
- Aug 21, 2010 7:51am Aug 21, 2010 7:51am
- Joined Nov 2006 | Status: Sting | 1,049 Posts
Folks,
This is my way of trading this beautiful method started by WJQ. I've been busy these days so could not post much but i see my partners are doing their best to help everyone.
Here is how i trade this method...
Open MT4 and take 15 minute chart of any pair. I have restricted my trades to eur/jpy, aud/jpy and cad/jpy as it seems to work well on these yen crosses better than the majors.
For e.g eur/jpy of friday at 09:45 am GMT (last trade for the week). My chart is at the end of this post. This is quite the perfect setup .
chart 1. MT4 with 15 mins eur/jpy, G7 (latest by Dr. Bean) indicator, stockastics 5,3,3. Plot MT4 fractals from indicator list. I mentioned perfect as when you notice g7 eur and yen, they have crossed between -1 and +1. Then yen goes to touch +1 and eur to -1. At this point draw a vertical line. I have also plotted a 200 ema to close as a filter. (not part of the system).
Chart 2. Once you have drawn the vertical line. Now wait for the fractal to appear for the retracement. Once you get the fractal, draw a fib (with expansion) from the current fractal which appeared to the previous fractal before the vertical line. This is your last 15 minutes swing. THis swing should be at least 70 pips as per the originator of the thread.By this time, you would notice that stockastics has started to go up. Wait for the retracement until either 38.2 or 50.0 or 61.8 to start selling. In my case i start the sell at 38.2 (1lot) then if it goes up i sell again at 50.0 (1 lot) and my final sell would be at 61.8 retracement.(1lot). MY SL was 100% +spread+1. Now i have changed into a conservative 76.4 fib + spread +1.
For TP, conservative traders can take the TP at 0% or 100% depending on the way you draw your fibs. My TP1 is 123.6 fib, TP 2 is 138.2 and last TP will be 161.8. After i have acheived 123.6 target, both the other trades SL will be brought down to breakeven +3. My observation states that 138.2 is acheivable almost everytime. 161.8 upto 80% success.
Chart 3 showing SL,TP etc.
Hope everyone is clear with the method. Remember that this is the way i trade with this method as far as i have understood. On the positive side i've made tons of pips with this method so i am sticking with this until something better comes along
. You can try modifications and be more aggresive or even scalp with it. I will post my scalp method in the next post. Happy weekend, good trades and god bless!!
This is my way of trading this beautiful method started by WJQ. I've been busy these days so could not post much but i see my partners are doing their best to help everyone.
Here is how i trade this method...
Open MT4 and take 15 minute chart of any pair. I have restricted my trades to eur/jpy, aud/jpy and cad/jpy as it seems to work well on these yen crosses better than the majors.
For e.g eur/jpy of friday at 09:45 am GMT (last trade for the week). My chart is at the end of this post. This is quite the perfect setup .
chart 1. MT4 with 15 mins eur/jpy, G7 (latest by Dr. Bean) indicator, stockastics 5,3,3. Plot MT4 fractals from indicator list. I mentioned perfect as when you notice g7 eur and yen, they have crossed between -1 and +1. Then yen goes to touch +1 and eur to -1. At this point draw a vertical line. I have also plotted a 200 ema to close as a filter. (not part of the system).
Chart 2. Once you have drawn the vertical line. Now wait for the fractal to appear for the retracement. Once you get the fractal, draw a fib (with expansion) from the current fractal which appeared to the previous fractal before the vertical line. This is your last 15 minutes swing. THis swing should be at least 70 pips as per the originator of the thread.By this time, you would notice that stockastics has started to go up. Wait for the retracement until either 38.2 or 50.0 or 61.8 to start selling. In my case i start the sell at 38.2 (1lot) then if it goes up i sell again at 50.0 (1 lot) and my final sell would be at 61.8 retracement.(1lot). MY SL was 100% +spread+1. Now i have changed into a conservative 76.4 fib + spread +1.
For TP, conservative traders can take the TP at 0% or 100% depending on the way you draw your fibs. My TP1 is 123.6 fib, TP 2 is 138.2 and last TP will be 161.8. After i have acheived 123.6 target, both the other trades SL will be brought down to breakeven +3. My observation states that 138.2 is acheivable almost everytime. 161.8 upto 80% success.
Chart 3 showing SL,TP etc.
Hope everyone is clear with the method. Remember that this is the way i trade with this method as far as i have understood. On the positive side i've made tons of pips with this method
so i am sticking with this until something better comes along. You can try modifications and be more aggresive or even scalp with it. I will post my scalp method in the next post. Happy weekend, good trades and god bless!!
STING
