Islander and Medici trade the European open | Page 104 | Forex Factory

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Islander and Medici trade the European open

  • #2,061
  • Aug 18, 2010 11:08am Aug 18, 2010 11:08am
I took a cable divergence trade. They are very easy to spot using your CI indi and have low risk stops. 1-1 rr net of spread is good.
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  • #2,062
  • Aug 18, 2010 11:12am Aug 18, 2010 11:12am
Quoting jag1966
I took a cable divergence trade. They are very easy to spot using your CI indi and have low risk stops. 1-1 rr net of spread is good.
Great stuff! Thanks for sharing. That 5575 level is actually the 76.2% level of the current range, so you could have entered there.
  • #2,063
  • Edited 11:24am Aug 18, 2010 11:23am | Edited 11:24am
Quoting medici
Great stuff! Thanks for sharing. That 5575 level is actually the 76.2% level of the current range, so you could have entered there.
Thanks Medici, this method of trading is still very new to me but I am absolutely loving it.

Quickly achieved targets, tiny stops, multiple opportunities / trades a day. Talk about low stress. Perfect.
  • #2,064
  • Aug 18, 2010 11:23am Aug 18, 2010 11:23am
Quoting medici
Just in case anybody hasn't noticed what is happening in the equity markets, here's a chart showing that SPX is bouncing between Fibonacci levels of last week's range. Yesterday's high was the 50% level, and today's high and low the 38.2% and 23.6% levels.
The 38.2% level being re-tested now...
  • #2,065
  • Aug 18, 2010 11:35am Aug 18, 2010 11:35am
Quoting jag1966
Thanks Medici, this method of trading is still very new to me but I am absolutely loving it.

Quickly achieved targets, tiny stops, multiple opportunities / trades a day. Talk about low stress. Perfect.
Agreed. At the same time, there's usually the possiblity of holding on for a while longer. Today's swings have, again, been from divergence to divergence. Requires apatience pill, though
  • #2,066
  • Aug 18, 2010 11:40am Aug 18, 2010 11:40am
Quoting medici
Agreed. At the same time, there's usually the possiblity of holding on for a while longer. Today's swings have, again, been from divergence to divergence. Requires apatience pill, though
Patience pill, yes, the more I trade and watch hopefully the better I will get at holding them longer. Early days yet still.

For me it is a case of trying to visualise what the dealers are trying to do with these moves. Hunting orders before reversing etc.
  • #2,067
  • Aug 18, 2010 11:50am Aug 18, 2010 11:50am
Quoting jag1966
Patience pill, yes, the more I trade and watch hopefully the better I will get at holding them longer. Early days yet still.

For me it is a case of trying to visualise what the dealers are trying to do with these moves. Hunting orders before reversing etc.
Good point. If you compare EUR or GBP with SPX, with which they are clearly correlated, you can see that after making the low for today, SPX makes successive higher lows whereas the currencies mentioned make lower lows - squeezing as much profit out a market they control - until the reversal. So we're trading with the dealers

In addition, the dealers need longer swings to build and unwind positions - thus good reasons for holding on.
  • #2,068
  • Aug 18, 2010 11:57am Aug 18, 2010 11:57am
Quoting jag1966
I took a cable divergence trade. They are very easy to spot using your CI indi and have low risk stops. 1-1 rr net of spread is good.
Hi Jag1966 nice trade on cable there was nice support from a TL and the lows of last friday for this trade also.
You mentioned a while ago that you have targets of previous S/R on the hourly. I strated doing the same while ago and with enrtys on the 5min it has made my R-R alot better sometimes as good as 1-5.
and if S/R coincides with pivots,RN,TLs ect those areas are like magnets to the price thanks for sharing this.

example below with 5min entry off last fridays low exit at last fridays range high (bottom of green box to top)

Cheers.
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  • #2,069
  • Aug 18, 2010 12:00pm Aug 18, 2010 12:00pm
Quoting medici
So do I. I think it is harder. But CI divergence on M5/M15 shows the way. And then 1min HL/LH to be on the safe side.
yeah it is really good!
  • #2,070
  • Aug 18, 2010 12:07pm Aug 18, 2010 12:07pm
Quoting reflex
yeah it is really good!
This is developing into the Composite Index Divergence thread...

And 50 people have now downloaded the indicator.
  • #2,071
  • Aug 18, 2010 12:12pm Aug 18, 2010 12:12pm
Quoting medici
This is developing into the Composite Index Divergence thread...

And 50 people have now downloaded the indicator.
How long have you been using it now?
Sorry if the answer to my question is in a previous post.
  • #2,072
  • Aug 18, 2010 12:19pm Aug 18, 2010 12:19pm
Quoting reflex
How long have you been using it know?
Sorry if the answer to my question is in a previous post.
It's only for a few weeks, and it's still work in progress.

So research will continue. But it seems a good strategy to only take trades that are confirmed by CI divergence, and to hold on for a while. See attached chart. Almost a stop-and-reverse system!
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  • #2,073
  • Aug 18, 2010 12:32pm Aug 18, 2010 12:32pm
Quoting medici
It's only for a few weeks, and it's still work in progress.

So research will continue. But it seems a good strategy to only take trades that are confirmed by CI divergence, and to hold on for a while. See attached chart. Almost a stop-and-reverse system!
You beat me to it I just highlighted all the divergence on my 5min to post haha.
I notice lots of entrys would be price action entrys for me anyway off key areas but the divergence seems to take away any doubt I have about calling the top/bottom giving more confidence to do my PA setups.

Thanks again for sharing it.
  • #2,074
  • Aug 18, 2010 12:36pm Aug 18, 2010 12:36pm
Quoting reflex
You beat me to it I just highlighted all the divergence on my 5min to post haha.
I notice lots of entrys would be price action entrys for me anyway off key areas but the divergence seems to take away any doubt I have about calling the top/bottom giving more confidence to do my PA setups.

Thanks again for sharing it.
Exactly the way I see it!
  • #2,075
  • Aug 18, 2010 3:08pm Aug 18, 2010 3:08pm
interesting difference ...
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  • #2,076
  • Aug 18, 2010 3:27pm Aug 18, 2010 3:27pm
Quoting david4u
interesting difference ...

Thank you for preparing and sharing that. Illustrates the difference very well. Rather striking isn't it!?
  • #2,077
  • Aug 18, 2010 4:55pm Aug 18, 2010 4:55pm
Interesting from ForexLive:

Large buyers emerge in cable around 200-day MA

It seems that there was some significant buying interest in the cable when it fell to 1.5500 early in the European session yesterday. At least 3 high-profile names, 2 Sovereign and 1 hedge fund, entered the fray around the same level and helped engineer the strong bounce.
Technically speaking, the 200-day MA comes in at 1.5492 which might explain the sudden appearance of buyers. Interesting also is the fact that the short term charts are showing promise of a bottoming formation. All this of course will come to nought on a clean break below 1.5490.

See http://www.forexlive.com/126252/all/...und-200-day-ma
  • #2,078
  • Aug 18, 2010 5:26pm Aug 18, 2010 5:26pm
Hey guys, where might I find the CII download?
  • #2,079
  • Aug 18, 2010 5:28pm Aug 18, 2010 5:28pm
Quoting Accumulation
Hey guys, where might I find the CII download?
Here:

http://www.forexfactory.com/showpost...postcount=1810
  • #2,080
  • Aug 18, 2010 5:33pm Aug 18, 2010 5:33pm
Quoting medici
Here:

http://www.forexfactory.com/showpost...postcount=1810

Bless you my son!
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