Islander and Medici trade the European open | Page 97 | Forex Factory

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Islander and Medici trade the European open

  • #1,921
  • Aug 12, 2010 11:11pm Aug 12, 2010 11:11pm
Short from the 50% level. May be a journey down to the trend line?
  • #1,922
  • Aug 12, 2010 11:14pm Aug 12, 2010 11:14pm
Euro hit TP ~2900.

Cable failed to rally, making a LH at FO, so I banked a couple of pips and sold the break of the 1m 30ema at 5628

Edit: as reminded by Medici, the high was the 50% retrace
Trading Levels with WRBs
  • #1,923
  • Aug 12, 2010 11:23pm Aug 12, 2010 11:23pm
€s high at the 2900 level brokemy first upper ema band suggesting short term overbought, so I took a small cheeky sell looking for a pull back to the 30ema and banked a few there.

Now to watch the PA on the bounce.

PS Exited cable short in the spike down to its 5600 level....
Trading Levels with WRBs
  • #1,924
  • Aug 12, 2010 11:45pm Aug 12, 2010 11:45pm
As usual, €s chart is clearer than Cable's.

The EMAAngleZero is good for divergence on this TF and its colours act as an alert to check the PA.

I also use a "price crosses" EMA audio alert - helpful if I'm looking at something else

Edit: I should say that the CI on my 5 min chart shows big bearish divergence
Attached Image (click to enlarge)
Click to Enlarge Name: euro aug 13 1m fo.gif Size: 14 KB
Trading Levels with WRBs
  • #1,925
  • Aug 12, 2010 11:52pm Aug 12, 2010 11:52pm
The sell off the 2900 level / LH dropped to the 875 level / still rising 5m 30 ema - rude not to bank those pips.....
Trading Levels with WRBs
  • #1,926
  • Aug 13, 2010 12:29am Aug 13, 2010 12:29am
Quoting Islander
The sell off the 2900 level / LH dropped to the 875 level / still rising 5m 30 ema - rude not to bank those pips.....

and repeat after LO.....
Trading Levels with WRBs
  • #1,927
  • Aug 13, 2010 12:57am Aug 13, 2010 12:57am
Some nice CI divergences in both Euro and cable that signalled reversal down
  • #1,928
  • Aug 13, 2010 2:21am Aug 13, 2010 2:21am
Plenty of opportunities - I hope you guys made some pips too

I'm finished for today - a good weekend to you all......

Edit: FYI, that last sell was at 11:01....also, cable fell ~50 pips.....http://cdn.forexfactory.com/images/icons/icon12.gif
Attached Image (click to enlarge)
Click to Enlarge Name: euro aug 13 1m 1015 uk.gif Size: 23 KB
Trading Levels with WRBs
  • #1,929
  • Aug 13, 2010 2:33am Aug 13, 2010 2:33am
Quoting Islander
Plenty of opportunities - I hope you guys made some pips too

I'm finished for today - a good weekend to you all......

Edit: FYI, that last sell was at 11:01....also, cable fell ~50 pips.....http://cdn.forexfactory.com/images/icons/icon12.gif
Haha nice work again Islander you are on fire. Getting better here, positive every day providing I close my book at 10am.

Cheers all for the posts again, have a great weekend too.

Medici, have a great one too, C11 is working like a charm. I shorted GJ at 134.70 using m5 for a good few pips.
  • #1,930
  • Aug 13, 2010 2:35am Aug 13, 2010 2:35am
Ahh Islander that mini downtrend on EU made my morning too! Good work
  • #1,931
  • Aug 13, 2010 2:35am Aug 13, 2010 2:35am
Quoting Islander
Plenty of opportunities - I hope you guys made some pips too

I'm finished for today - a good weekend to you all......

Edit: FYI, that last sell was at 11:01....also, cable fell ~50 pips.....http://cdn.forexfactory.com/images/icons/icon12.gif
Yes, it was a good morning

Nice weekend to you and to everybody else!
  • #1,932
  • Aug 13, 2010 3:16am Aug 13, 2010 3:16am
Can't resist - it's too beautiful!
Attached Image (click to enlarge)
Click to Enlarge Name: euro m5 13 aug.gif Size: 25 KB
  • #1,933
  • Aug 13, 2010 3:24am Aug 13, 2010 3:24am
definitely LO push just waitiiiiiing to drop!
  • #1,934
  • Aug 13, 2010 4:19am Aug 13, 2010 4:19am
Quoting Islander
Plenty of opportunities - I hope you guys made some pips too

I'm finished for today - a good weekend to you all......

Edit: FYI, that last sell was at 11:01....also, cable fell ~50 pips.....http://cdn.forexfactory.com/images/icons/icon12.gif
Just out of curiousity, did you pick up the 30 min EMA on 1 min charts from somebody in the industry. They seem almost too good to be true at times
  • #1,935
  • Aug 13, 2010 4:21am Aug 13, 2010 4:21am
Thanks for the Vouch medici my 1ST one!!

I have finished for the day now bit of a disapointing one for me got stoped out of 2nd trade by a pip at -7 which was going to be my sitter for the day should have stuck to my plan which was not to move stops until DP was hit!
not sticking to my rules cost me 7pips instead of a gain of 60-70pips if left to run until target hit.

Lower TL still not hit you think we'll get there in NY session medici?
  • #1,936
  • Aug 13, 2010 4:31am Aug 13, 2010 4:31am
Quoting reflex
Thanks for the Vouch medici my 1ST one!!

I have finished for the day now bit of a disapointing one for me got stoped out of 2nd trade by a pip at -7 which was going to be my sitter for the day should have stuck to my plan which was not to move stops until DP was hit!
not sticking to my rules cost me 7pips instead of a gain of 60-70pips if left to run until target hit.

Lower TL still not hit you think we'll get there in NY session medici?
You're welcome. Good trading and thinking as far as I can tell.

I didn't do well initially - probably a bit tired towards the end of the week - but managed to catch the drop in cable based on Islander's EMA30 trigger

And my early stumble was also a case of not following my rules...when will I learn to always do that?
Attached Image (click to enlarge)
Click to Enlarge Name: cable m1 13 aug.gif Size: 22 KB
  • #1,937
  • Aug 13, 2010 5:05am Aug 13, 2010 5:05am
Quoting reflex
Thanks for the Vouch medici my 1ST one!!

I have finished for the day now bit of a disapointing one for me got stoped out of 2nd trade by a pip at -7 which was going to be my sitter for the day should have stuck to my plan which was not to move stops until DP was hit!
not sticking to my rules cost me 7pips instead of a gain of 60-70pips if left to run until target hit.

Lower TL still not hit you think we'll get there in NY session medici?
I completely forgot to post charts here they are.

And nice entry on the 1min I could never trade the 1min so I stuck to the 5min not that I don't like the 1min chart I think its great just doesn't suit my personality.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010-08-13_1208.jpg Size: 152 KB
Click to Enlarge Name: 2010-08-13_1208_001.jpg Size: 154 KB
  • #1,938
  • Edited 5:20am Aug 13, 2010 5:09am | Edited 5:20am
Quoting reflex
I completely forgot to post charts here they are.

And nice entry on the 1min I could never trade the 1min so I stuck to the 5min not that I don't like the 1min chart I think its great just doesn't suit my personality.
Thanks for charts. Well done again

I don't trade 1min charts either, but in conjunction with HL, LH trading the cross of the EMA30 is a good entry trigger as indicated in my previous post. Just like you I prefer the 5min. Following the market on a 1min makes me do stupid things, so I follow the market on 5min and higher time-frames and go to the 1min when I know what direction things are moving in.

If you had used the 1min EMA30 and traded the swings, you wouldn't have been stopped out the way you were See attached chart.
Attached Image (click to enlarge)
Click to Enlarge Name: cable m1 13 aug 2.jpg Size: 80 KB
  • #1,939
  • Aug 13, 2010 5:18am Aug 13, 2010 5:18am
Quoting medici
Just out of curiousity, did you pick up the 30 min EMA on 1 min charts from somebody in the industry. They seem almost too good to be true at times
No, it was my own work. I used a 55 ema when I was trading commodities and then initially a 34 ema on 5 min currencies.

When I thought about it, using a fib number for a time unit didnt make sense - especially if you've worked with Gann or the earth's rotation for timing - one of my more esoteric experiments - so I did some more research and found that using the 30ema on 1m, 5m and 15m gave good results.

Edit: Its then about creating your own rules based on PA around these MAs and applying them - and that's usually the most difficult part. http://cdn.forexfactory.com/images/icons/icon11.gif
Trading Levels with WRBs
  • #1,940
  • Aug 13, 2010 5:24am Aug 13, 2010 5:24am
Quoting Islander
No, it was my own work. I used a 55 ema when I was trading commodities and then initially a 34 ema on 5 min currencies.

When I thought about it, using a fib number for a time unit didnt make sense - especially if you've worked with Gann or the earth's rotation for timing - one of my more esoteric experiments - so I did some more research and found that using the 30ema on 1m, 5m and 15m gave good results.
Thanks. Well spotted then. The reason for my question is that it sometimes seems like that those managing the order flow follow the EMA30 as well

You should read Constance Brown's work. She is considered one of the world's foremost experts on Gann stuff, and she uses angles of planetary rotations to make predictions with amazing accuracy.
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