Islander and Medici trade the European open | Page 96 | Forex Factory

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Islander and Medici trade the European open

  • #1,901
  • Aug 12, 2010 3:10am Aug 12, 2010 3:10am
@ ozmacca

Re: I think it is more a case of information overload

Might I suggest ignoring our more advanced / esotoric comments / trades and just start with the easier ones......those with a pull back to around a sloping EMA - especially after a LH / HL or when the EMA is close to "a level" These are high percentage entries and we always get a couple around FO / LO.....
Trading Levels with WRBs
  • #1,902
  • Aug 12, 2010 3:15am Aug 12, 2010 3:15am
Quoting ozmacca
More seriously, are you saying that you are not learning from things here? Anything that could help you do that?

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...
What I'd suggest is that you try to keep things simple to begin with, trading only one set-up. Vantage's Higher Low, Lower High system is one idea of you want to trade with the trend, and Jankone's M5 thread (or, better, CI divergence at BBs) if you like counter-trend.

Makes sense?
  • #1,903
  • Aug 12, 2010 3:17am Aug 12, 2010 3:17am
Remember to stay awake for the Euro at 10am to see if our friends are adjusting positions one way or another.
  • #1,904
  • Aug 12, 2010 3:39am Aug 12, 2010 3:39am
Thanks for the great commentary every day Islander and Medici, very educational and inspirational.

Your CI indi really works well Medici, now I guess I have to consider adding bollingers as well.

So much for naked charts. LOL
  • #1,905
  • Aug 12, 2010 3:40am Aug 12, 2010 3:40am
Quoting Islander
@ ozmacca

Re: I think it is more a case of information overload

Might I suggest ignoring our more advanced / esotoric comments / trades and just start with the easier ones......those with a pull back to around a sloping EMA - especially after a LH / HL or when the EMA is close to "a level" These are high percentage entries and we always get a couple around FO / LO.....
mmm.....well 8 in the Euro this morning and those where the slower EMA is also involved are usually the safest.....
Attached Image (click to enlarge)
Click to Enlarge Name: euro aug 12 1m lo plus 95m.gif Size: 19 KB
Trading Levels with WRBs
  • #1,906
  • Aug 12, 2010 3:46am Aug 12, 2010 3:46am
I have been concentrating on the two opens while this thread has been quiet, I have had a look at Vantages thread as well.

I am getting better, I actually made a small profit last month so I shall keep on plugging.

My thanks to both of you for your efforts and support, a rare thing so generously given, much appreciated.
Money grows on the tree of persistence
  • #1,907
  • Aug 12, 2010 3:48am Aug 12, 2010 3:48am
Quoting Islander
mmm.....well 8 in the Euro this morning and those where the slower EMA is also involved are usually the safest.....
Haha, great work Islander, love it.
  • #1,908
  • Aug 12, 2010 4:16am Aug 12, 2010 4:16am
Quoting jag1966
Haha, great work Islander, love it.

Originally Posted by Islander http://cdn.forexfactory.com/images/buttons/viewpost.gif
mmm.....well 8 in the Euro this morning and those where the slower EMA is also involved are usually the safest.....



Now that last entry was a cracker.....it fell ~70 pips in half an hour with the low so far just a pip away from my second lower band. Given that it was a red marubozo that turned into a harami it was a good place to exit for now, especially as cable's looking ready for a bounce.

I'm finished for this morning ....BFN
Trading Levels with WRBs
  • #1,909
  • Aug 12, 2010 5:33am Aug 12, 2010 5:33am
Quoting Islander
Originally Posted by Islander http://cdn.forexfactory.com/images/buttons/viewpost.gif
mmm.....well 8 in the Euro this morning and those where the slower EMA is also involved are usually the safest.....



Now that last entry was a cracker.....it fell ~70 pips in half an hour with the low so far just a pip away from my second lower band. Given that it was a red marubozo that turned into a...
It was a cracker mate and thanks to Medicis CI indi I got it right at the top. Brilliant stuff guys, thanks.

p.s. that was a perfect M1 down trend formed just before your last entry too, it just doesn't get better than that.
  • #1,910
  • Aug 12, 2010 8:00am Aug 12, 2010 8:00am
Quoting jag1966
It was a cracker mate and thanks to Medicis CI indi I got it right at the top. Brilliant stuff guys, thanks.

p.s. that was a perfect M1 down trend formed just before your last entry too, it just doesn't get better than that.
NIce one isn't it!? I believe this kind of reversals is the way to trade, for the reason that mostly the market isn't trending. Today's NY session, for example, with lots of false (as confirmed by CI) breakouts to fade whereas a trend-following approach would have you chopped to pieces. If you combine it with proximity to/trespassing BBs that aren't steeply sloping you've got high-probability set-ups.
  • #1,911
  • Aug 12, 2010 10:51am Aug 12, 2010 10:51am
Thought I would post this here aswell as on Vs thread as both trades are in FO and LO. Sorry for not being able to post real time I find it hard with so may different views of what price will do on other threads to stick to my own so I try to stay away from forexfactory during trading.
On second entry I didn't come out with as many pips as I should have because I scaled out and really should have added in at the 100% system setup (Vs system) and took all at target.

and again I'd like anyone to comment on anything they see that I havn't and if they see anything that they think would have been usefull for me to have noticed.

Thanks.
Attached Image(s) (click to enlarge)
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  • #1,912
  • Aug 12, 2010 11:41am Aug 12, 2010 11:41am
Quoting medici
NIce one isn't it!? I believe this kind of reversals is the way to trade, for the reason that mostly the market isn't trending. Today's NY session, for example, with lots of false (as confirmed by CI) breakouts to fade whereas a trend-following approach would have you chopped to pieces. If you combine it with proximity to/trespassing BBs that aren't steeply sloping you've got high-probability set-ups.
Without doubt Medici, you Dave Vantage and Islander have opened my eyes to the best way to trade. It suits my psychology / stress levels perfectly. In and out quick, not scalping. Proper targets, stops etc. Beautiful.
  • #1,913
  • Aug 12, 2010 1:30pm Aug 12, 2010 1:30pm
Quoting reflex
Thought I would post this here aswell as on Vs thread as both trades are in FO and LO. Sorry for not being able to post real time I find it hard with so may different views of what price will do on other threads to stick to my own so I try to stay away from forexfactory during trading.
On second entry I didn't come out with as many pips as I should have because I scaled out and really should have added in at the 100% system setup (Vs system) and took all at target.

and again I'd like anyone to comment on anything they see that I havn't...
Thanks for post, and well done

I believe we all trade our own perception, so different people see things differently. For example. from his posts I can tell that Islander and I perceive things slightly differently.

So you trade your perception and others theirs, and the best way to widen your perception is to study other people's posts.

Your charts are spot on HL, LH trading the way you perceive things, that's all I can say. As for holding on, see my next post.
  • #1,914
  • Edited 2:00pm Aug 12, 2010 1:42pm | Edited 2:00pm
Here's an observation in relation to profit targets.

When entering on a CI divergence reversal, it seems like it's worth holding on until the BBs start to flatten - signalling the end of the swing - and then to close and switch on another CI divergence.

For example, the Euro short today from around 2930 should have been exited at 2805 and not before.

So the hypothesis is that CI divergence and BBs could be an excellent way of swing trading.

Still early observation, so to be further investigated, but this could add significantly to profitability.
  • #1,915
  • Edited 2:25pm Aug 12, 2010 2:09pm | Edited 2:25pm
Cable is close to trend-line support with nice H4 CI divergence.

Early tomorrow we might see some end of week profit taking from people playing the weekly swings, providing nice longs to start off the day.

EDIT: Tomorrow 7am UK time the trend line will be around today's lows, so be ready for a fake out.
Attached Image (click to enlarge)
Click to Enlarge Name: cable h4 12 aug.gif Size: 25 KB
  • #1,916
  • Aug 12, 2010 3:04pm Aug 12, 2010 3:04pm
Quoting medici
Thanks for post, and well done

I believe we all trade our own perception, so different people see things differently. For example. from his posts I can tell that Islander and I perceive things slightly differently.

So you trade your perception and others theirs, and the best way to widen your perception is to study other people's posts.

Your charts are spot on HL, LH trading the way you perceive things, that's all I can say. As for holding on, see my next post.
Yep I totaly agree I have learnt pretty much everything I know from threads mainly yours and islanders and Vs so I still study each one every night to see what I can pick up.

And thanks the post on CI divergence I'm also watching that 4hr trendline was my target when 16000 failed to go after NFP rally it has given me lots of good shorts each morning with just simple targets of previous S/Rs on hourly chart.

Thanks.
  • #1,917
  • Aug 12, 2010 4:19pm Aug 12, 2010 4:19pm
Quoting medici
Cable is close to trend-line support with nice H4 CI divergence.

Early tomorrow we might see some end of week profit taking from people playing the weekly swings, providing nice longs to start off the day.

EDIT: Tomorrow 7am UK time the trend line will be around today's lows, so be ready for a fake out.
Just like yesterday the Americans were buying in the late NY session betting on a rebound with tight stops.

And as usual the sweethearts at the Australian dealing desks start their day by targeting stops - so far without success, which says something about the buy orders around 5560-70, as is to be expected given the convergence of today's lows with the trend-line support tomorrow morning.

It'll be an interesting morning.
  • #1,918
  • Aug 12, 2010 11:48pm Aug 12, 2010 11:48pm
Quoting medici
Cable is close to trend-line support with nice H4 CI divergence.

Early tomorrow we might see some end of week profit taking from people playing the weekly swings, providing nice longs to start off the day.

EDIT: Tomorrow 7am UK time the trend line will be around today's lows, so be ready for a fake out.
GM - short covering started in Asia, but that trend-line hasn't been kissed yet

It should be 8am, not 7am.

And it's Friday the 13th!
  • #1,919
  • Aug 13, 2010 12:51am Aug 13, 2010 12:51am
GM - good to see some new faces posting and helping to reactivate the thread

Yesterday I mentioned that Wednesday's low in cable at 5612 would be worth watching. It became resistance early in the NY session and now, together with the Daily Pivot is acting as support - also close to the rising 15m 30 ema http://cdn.forexfactory.com/images/icons/icon12.gif

Euro has made a HL off its 2850 level / rising 15m 30 ema.

I'm long both with initial TPs around the respective xx00 levels....

Euro has German Prelim GDP q/q at FO......
Trading Levels with WRBs
  • #1,920
  • Aug 13, 2010 12:57am Aug 13, 2010 12:57am
Thanks to Crassius.......

German GDP at 2% leaked early by Bild Zeitung

1.3 was the forcast, but it was widely known was going to be a good number, 1.9% may already be baked into the market.
Trading Levels with WRBs
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