Islander and Medici trade the European open | Page 93 | Forex Factory

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Islander and Medici trade the European open

  • #1,841
  • Aug 10, 2010 7:11am Aug 10, 2010 7:11am
Quoting medici
3182 looks to be a good sell level in the Euro. Pivotal last week, and 50% of the overnight range.
Must have polished that crystal ball well last night...

Regardless, CI divergence would have caught it.
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  • #1,842
  • Aug 10, 2010 7:38am Aug 10, 2010 7:38am
Quoting jag1966
Nice trades Medici, I have spent years weaning myself off indis and onto naked charts, I have tried to resist but that last chart does look pretty. LOL

Thank you! And if this is your first post here a warm welcome...to the best place on the Internet for trading the London open

I have gone through a similar journey, but I now think that it doesn't hurt to have a frame of reference to view the market through. I am grateful to Islander for opening my eyes to that.

The CI indicator has truly got me back on indicators again. It's efficiency in catching reversals has astounded me. For example, take a look at attached daily Euro chart.
Attached Image (click to enlarge)
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  • #1,843
  • Aug 10, 2010 7:53am Aug 10, 2010 7:53am
Quoting reflex
Hi all I normally post my trades on Vantages thread but this is not a HL/LH system trade so I'll post it here.
I'd like to see what you think of the PA reading.
triple/double top depending on how close you want the tops to be.
Failed bear flag overshoot and failed breakout of the triangle wedge.
Target low of range but exited early at 800 I should have held on a bit longer!

Really should have held on!
Hello, and thank you for posting. Nice trade

No comments really apart from maybe that I wouldn't make too much of the triangle pattern which seems coincidental more than anything else.

My reading would be: Pin bar from above flat Bollinger band and reverse CI divergence, in addition to the 38.2% which is where I would have entered if I hadn't called it a morning at that time.
Attached Image (click to enlarge)
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  • #1,844
  • Aug 10, 2010 11:56am Aug 10, 2010 11:56am
Quoting medici
Looking forward to your comments.

Note also that the FO buy was a CI reverse divergence buy...but not an RSI reverse divergence buy...

Like many others, I too have been naked - OK almost! - for some time and use price / PA in relation to my EMAs to show me what's changing momentumwise and trendwise. FYI I also use EMA outer bands in lieu of BBs

My first question on this indy - an MT4 version of Constance Brown's one published on her web site at aeroinvest - is how are you using - if at all - the green and gold lines.

Looking at the CII on a 5m cable chart, I'm tempted to remove those lines and just use the red one.
Trading Levels with WRBs
  • #1,845
  • Aug 10, 2010 12:13pm Aug 10, 2010 12:13pm
Quoting Islander

My first question on this indy - an MT4 version of Constance Brown's one published on her web site at aeroinvest - is how are you using - if at all - the green and gold lines.
The gold and green lines are 13 and 33 period SMAs of the CI itself. I remember reading her saying that the gold line can act as support/resistance for the CI, and that their crossover has some significance. But in my chart studies I haven't found anything consistent enough along those lines. But then I haven't taken her course, priced at $$$$, where one can learn all about that

EDIT: But what does seem to have some relevance is support and resistance levels and trendlines for the CI. Worth exploring further.


So, no, I am not using them. But the divergence properties of the CI itself I find stunning.

Quote


Looking at the CII on a 5m cable chart, I'm tempted to remove those lines and just use the red one.

Not a bad idea...unless you want to go to her ranch in North Carolina to learn more
  • #1,846
  • Aug 10, 2010 4:38pm Aug 10, 2010 4:38pm
Quoting medici
GM - that was a dead easy six o'clock long... target 5820.
Yep, I also managed to steal some pips.

Quoting medici
Sounds interesting! So what were your findings on the harmonic patterns?
There are a few, some setups prove to be successful in 50% - 80% (needs to be checked on longer period than last two years for 5m and 1h), one major finding is that's worth of further research (and i'm eager to).

Quoting supremeChaos
i agree. very interesting!
i am sure that entailed a lot of computer work/brainstorming.
Managed to write the indi and thesis in one month (i can't believe!), while working full time job, so wasn't that bad But to create working, successful EA - it will.

BTW: I'm looking forward to object-oriented MQL5, could you share some resouces/info/news/stuff, if you got some?

Greetings and cu tomorrow,
okrutny
  • #1,847
  • Aug 11, 2010 12:06am Aug 11, 2010 12:06am
GM - selling around yesterday morning's highs around 5825 looks tempting. H&S plus support turned resistance.
  • #1,848
  • Aug 11, 2010 12:24am Aug 11, 2010 12:24am
Quoting medici
GM - selling around yesterday morning's highs around 5825 looks tempting. H&S plus support turned resistance.
So I did above DP at 5821 confirmed by CI divergence.
  • #1,849
  • Aug 11, 2010 1:00am Aug 11, 2010 1:00am
Quoting medici
GM - selling around yesterday morning's highs around 5825 looks tempting. H&S plus support turned resistance.
A good way to start the day.....I caught the LH about half an hour later
Trading Levels with WRBs
  • #1,850
  • Aug 11, 2010 1:04am Aug 11, 2010 1:04am
The low was a high vol climax bar which turned into a harami. I've taken a small buy - against the falling 30 emas....
Trading Levels with WRBs
  • #1,851
  • Aug 11, 2010 1:08am Aug 11, 2010 1:08am
Quoting Islander
The low was a high vol climax bar which turned into a harami. I've taken a small buy - against the falling 30 emas....
And I've sold again at 5810...
  • #1,852
  • Aug 11, 2010 1:10am Aug 11, 2010 1:10am
Quoting Islander
The low was a high vol climax bar which turned into a harami. I've taken a small buy - against the falling 30 emas....
Closed at the falling 5m 30ema for 8 pips at 5806 - its also prior support and todays POC from market profile
Trading Levels with WRBs
  • #1,853
  • Aug 11, 2010 1:12am Aug 11, 2010 1:12am
Quoting medici
And I've sold again at 5810...
Nice - I missed it
Trading Levels with WRBs
  • #1,854
  • Aug 11, 2010 1:15am Aug 11, 2010 1:15am
Quoting Islander
Nice - I missed it
1.55 here we come...
  • #1,855
  • Aug 11, 2010 1:17am Aug 11, 2010 1:17am
I was also short € which was looking weaker than cable - holding under falling 30 ema - just closed in the spike under yesterdays low.

Nice to have such and active, easy to trade start to Frankies Hour
Trading Levels with WRBs
  • #1,856
  • Aug 11, 2010 1:19am Aug 11, 2010 1:19am
Quoting medici
1.55 here we come...
after a bounce off the 75 level that let me join you
Trading Levels with WRBs
  • #1,857
  • Aug 11, 2010 1:21am Aug 11, 2010 1:21am
Quoting Islander
I was also short € which was looking weaker than cable - holding under falling 30 ema - just closed in the spike under yesterdays low.
I'm sucking on a patience pill...
  • #1,858
  • Aug 11, 2010 1:27am Aug 11, 2010 1:27am
Quoting Islander
after a bounce off the 75 level that let me join you
You're more than welcome to join

Also thinking of selling the Euro off yesterday's low.
  • #1,859
  • Aug 11, 2010 1:28am Aug 11, 2010 1:28am
Quoting medici
I'm sucking on a patience pill...
LOL - I see a 5m UH vol spinning top as the low which suggests some profit taking / support around the 75 level, so I've banked and am looking for a mid FH bounce....
Trading Levels with WRBs
  • #1,860
  • Aug 11, 2010 1:28am Aug 11, 2010 1:28am
Quoting medici
You're more than welcome to join

Also thinking of selling the Euro off yesterday's low.
Trading Levels with WRBs
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