Islander and Medici trade the European open | Page 95 | Forex Factory

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Islander and Medici trade the European open

  • #1,881
  • Edited 1:24am Aug 12, 2010 1:20am | Edited 1:24am
short EJ after l/h on 1min, also at psych level 35
close for +16

also, 5min had wide spread up bar on higher vol followed by hammer on higher volume suggesting supply hitting market
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $EURJPY (1 Min) 12_08_2010.jpg Size: 91 KB
Click to Enlarge Name: $EURJPY (5 Min) 12_08_2010.jpg Size: 86 KB
  • #1,882
  • Aug 12, 2010 1:27am Aug 12, 2010 1:27am
Quoting medici
GM - short off the 7.05 lower high...TWT
Me too - small size with TPs at the 5m 30 EMAs - 2897 & 5691 - the earlier highs are just under these levels
Trading Levels with WRBs
  • #1,883
  • Aug 12, 2010 1:28am Aug 12, 2010 1:28am
Quoting Sakk
short EJ after l/h on 1min, also at psych level 35
close for +16

also, 5min had wide spread up bar on higher vol followed by hammer on higher volume suggesting supply hitting market

Nice trade
Trading Levels with WRBs
  • #1,884
  • Aug 12, 2010 1:29am Aug 12, 2010 1:29am
Quoting Sakk
short EJ after l/h on 1min, also at psych level 35
close for +16

also, 5min had wide spread up bar on higher vol followed by hammer on higher volume suggesting supply hitting market
Hello Sakk, and welcome to the thread. Well done

If you are going to post your trades, could you please adhere to thread ethics (see first post) and write something about the methods you are using?
  • #1,885
  • Aug 12, 2010 1:50am Aug 12, 2010 1:50am
Quoting Islander
I bought both € and cable after the HL around 6am UK.

For targets, I pulled fibs over the last parts of yesterdays fall - that was a biggy in €. The 38% in € is ~2922 and cable has its 50% at 5718 with its DP at 5715, so my TPs will be just under these levels

I should also have mentioned that 5710 was Tuesday's low and that was more obvious than pivots or fibs.....the high so far is 5712 http://cdn.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #1,886
  • Aug 12, 2010 1:52am Aug 12, 2010 1:52am
Quoting Islander
I should also have mentioned that 5710 was Tuesday's low and that was more obvious than pivots or fibs.....
Thanks. Didn't elude me though. Did you note that CI was at a resistance level?
  • #1,887
  • Aug 12, 2010 1:55am Aug 12, 2010 1:55am
ah sorry, I was drawn to this thread because of both yours and Islanders style of trading. Have been studying all posts and charts trying to understand what you guys are seeing when you enetr and exit trades.....so I really appreciate the thread.

I use ninjatrader and have programmed some very basic triggers that Tom Williams discusses in Master the Markets with sound alerts. 50% of those signals are false by themselves however when in the right place (pshych levels, fibs and l/h's and l/l's) they allow me a more automated approach.....still learning though.

my biggest difficulty is consistancy, i'll trade well then lapse and make silly errors giving back most of my profits. Am currently in a drawdown and have reduced size, trying to chip away and get back to black.

cheers
  • #1,888
  • Aug 12, 2010 1:57am Aug 12, 2010 1:57am
Quoting medici
Thanks. Didn't elude me though. Did you note that CI was at a resistance level?

LOL - I didnt think that it would. I now see that I have CI at 100 vs its earlier high of 104 - so actual bearish divergence......
Trading Levels with WRBs
  • #1,889
  • Aug 12, 2010 2:05am Aug 12, 2010 2:05am
Bought the 8.01 spike down to 5853. How's that for a crazy touch trade, Sim?
  • #1,890
  • Aug 12, 2010 2:08am Aug 12, 2010 2:08am
Quoting medici
Bought the 8.01 spike down to 5853. How's that for a crazy touch trade, Sim?
Smokey

I was watching the Days Open level of 5656 and bought after it held.....also long € after it bounced up off its 30 EMAs.....
Trading Levels with WRBs
  • #1,891
  • Aug 12, 2010 2:14am Aug 12, 2010 2:14am
Quoting Islander
Smokey

I was watching the Days Open level of 5656 and bought after it held.....also long € after it bounced up off its 30 EMAs.....
See, I was watching that level yesterday. After the mayhem, the Americans were buying there, hoping for a rebound, with stops just underneath. The first thing the Aussie dealers did in their morning was to kindly take out those stops and then buy themselves. So I thought that people might be remember that level today...
  • #1,892
  • Aug 12, 2010 2:21am Aug 12, 2010 2:21am
Quoting Sakk
ah sorry, I was drawn to this thread because of both yours and Islanders style of trading....
You're welcome, and thanks for explaining. 50% hit-rate, hmm, why don't you do your own research?

Consistency, ah! In my case it's about taking all tried and tested set-ups as they emerge...and avoiding all else, i.e. the guess-ups!
  • #1,893
  • Aug 12, 2010 2:21am Aug 12, 2010 2:21am
The action so far.....

The fast EMA is the 30 on this TF and the slow the 30 on the 5 min. The latter also has +/- 30 band showing which I use instead of a 1 SD Bollinger.....
Attached Image (click to enlarge)
Click to Enlarge Name: cable aug 12 1m lo plus 15m.gif Size: 21 KB
Trading Levels with WRBs
  • #1,894
  • Edited 2:38am Aug 12, 2010 2:22am | Edited 2:38am
Hi,

As you already know I have been following this amazing exhibition since its opening day and I have to say that with the greatest respect, you pair drive me to the point of distraction

I am so out of my depth, it is like watching Wimbledon or something, left, right,left, right........ I am almost giddy by the end of the morning.

My respect and admiration for your skills is coloured with a bright green

Where the he** do I start aaarrrgggg !!!!

Keep it up guys, those gnomes of Zurich can afford it

ps: Yes, I know that I have your templates etc I just don't have the skill at present Practice practice ...........
Money grows on the tree of persistence
  • #1,895
  • Aug 12, 2010 2:38am Aug 12, 2010 2:38am
Quoting Islander
The action so far.....

The fast EMA is the 30 on this TF and the slow the 30 on the 5 min. The latter also has +/- 30 band showing which I use instead of a 1 SD Bollinger.....
Thanks Why post my own charts when you do it so well? Those are the same entries and exits I saw.

EMA bands on the M1, now that's an idea I'll explore. I use BBs with standard settings. The advantage with BBs, I think, is that they are a momentum measure as well, so that things like flattening BBs while the MA is still sloping has significance.
  • #1,896
  • Aug 12, 2010 2:43am Aug 12, 2010 2:43am
Quoting ozmacca
Hi,

As you already know I have been following this amazing exhibition since its opening day and I have to say that with the greatest respect, you pair drive me to the point of distraction

I am so out of my depth, it is like watching Wimbledon or something, left, right,left, right........ I am almost giddy by the end of the morning.

My respect and admiration for your skills is coloured with a bright green

Where the he** do I start aaarrrgggg !!!!

Keep it up guys, those gnomes of Zurich can afford it

ps: Yes, I know that...
LOL! Didn't know that this was a freak exhibition

More seriously, are you saying that you are not learning from things here? Anything that could help you do that?
  • #1,897
  • Aug 12, 2010 2:44am Aug 12, 2010 2:44am
Quoting ozmacca
Hi,

As you already know I have been following this amazing exhibition since its opening day and I have to say that with the greatest respect, you pair drive me to the point of distraction

I am so out of my depth, it is like watching Wimbledon or something, left, right,left, right........ I am almost giddy by the end of the morning.

My respect and admiration for your skills is coloured with a bright green

Where the he** do I start aaarrrgggg !!!!

Keep it up guys, those gnomes of Zurich can afford it

ps: Yes, I know that I have...

Thanks Macca and you've said it Practice practice - in Real Time and with a small ammount of Real Money.....
Trading Levels with WRBs
  • #1,898
  • Aug 12, 2010 2:49am Aug 12, 2010 2:49am
Quoting medici
Thanks Why post my own charts when you do it so well? Those are the same entries and exits I saw.

EMA bands on the M1, now that's an idea I'll explore. I use BBs with standard settings. The advantage with BBs, I think, is that they are a momentum measure as well, so that things like flattening BBs while the MA is still sloping has significance.
As my bands - and I have up to 3 depending on the volatility - are based on the 5m 30EMA, I feel that the 1m 30 EMA shows momentum via its relationship to the 5m 30 - a 150 on my 1 min charts.....
Trading Levels with WRBs
  • #1,899
  • Aug 12, 2010 2:55am Aug 12, 2010 2:55am
More seriously, are you saying that you are not learning from things here? Anything that could help you do that?[/quote]

Hi Medici,

I think it is more a case of information overload, poor trading skills don't help, I see things but only after the event, so I tend to enter too late and then get stopped out on the retest of support/resistance.

I started trading Forex to keep the grey matter working after early medical retirement, hardest thing I have ever done, employing 10 people is easy compared with this

I shall keep on slugging, I do appreciate both of you sharing your trades, it really does illustrate that it is possible, just takes a lot to learn.
Money grows on the tree of persistence
  • #1,900
  • Aug 12, 2010 3:09am Aug 12, 2010 3:09am
Another beautiful CI divergence.
Attached Image (click to enlarge)
Click to Enlarge Name: euro m5 12 aug 3.gif Size: 22 KB
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