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Nearly Naked (Simple Trades)

  • #7,961
  • Aug 20, 2010 7:45am Aug 20, 2010 7:45am
Quoting redsword11
Attachment


Red
Hey man would you mind sharing the indy that draws those harmonic patterns?

Thanks.
  • #7,962
  • Aug 20, 2010 7:47am Aug 20, 2010 7:47am
  •  Oz4x
  • | Joined Oct 2009 | Status: "Everybody Wants Some!" - Roth | 76 Posts
Quoting redsword11
understood, no issues trader


you have a good eye for the aud and trends in general
Thanks...as do you. Good weekend...
  • #7,963
  • Aug 20, 2010 8:15am Aug 20, 2010 8:15am
Attached Image (click to enlarge)
Click to Enlarge Name: gc.jpg Size: 72 KB




awaiting entry south
  • #7,964
  • Edited 11:07am Aug 20, 2010 9:47am | Edited 11:07am
Quoting s2659
Good morning/afternoon/evening Saxon

what is your prognosis on EU, I'm waiting to short it at 1.292ish with a J16group stuff entry



and it did exactly that, the high of the right shoulder was 1.29222 on my chart.
But unfortunately it missed my entry by 0.3 pips.

But thats alright, because I have a short on AU currently at b/e + 2R
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #7,965
  • Aug 20, 2010 10:11am Aug 20, 2010 10:11am
Quoting redsword11
Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 88 KB




getting out @ entry
  • #7,966
  • Aug 20, 2010 10:56am Aug 20, 2010 10:56am
Quoting redsword11
Attachment


My thoughts

Attached Image (click to enlarge)
Click to Enlarge Name: dx.jpg Size: 75 KB




new price structure, possible wave of dollar weakness and then strength as indicating by the price levels
  • #7,967
  • Aug 20, 2010 11:13am Aug 20, 2010 11:13am
long cadchf stops at 0.98355
  • #7,968
  • Aug 20, 2010 2:13pm Aug 20, 2010 2:13pm
Quoting redsword11
Attachment



new price structure, possible wave of dollar weakness and then strength as indicating by the price levels
very nice.. could it be a double bottom where the dollar is sitting on right now? Just a thought. Potentially USD does need a technical correction, but, nest week could be too soon? Crap - probably i think too much.

AUD to test 8950'ish before heading south again? See u there?
May the pip flow with you
  • #7,969
  • Aug 21, 2010 11:32am Aug 21, 2010 11:32am
MarkVUM....

Could you post what EMA's you use?

And are they applicable to 4H TF.

I have a trade that lost last week....stopped out to the pip. I'm searching for something that may have supported an exit, or a tightening of my stop (it was in profit when I went to bed)

Anyways, the point is there was one thing that could've kept me out of the trade all together, but aside from that I had not a hint that I was on the wrong side of it. This perplexes me and I would like to experiment with some indi's to see if any would've acted as a filter.

I'm not that upset about the trade, it's just that a post-trade analysis doesn't tell me anything. And I don't like remaining ignorant.

I also may play around with pivots, I assuming they can be found by checking the thread attachments?

Thanks in advance.

Please bear in mind I'm trading daily/weekly setups, but often looking for 4 entry/exit cues.
  • #7,970
  • Aug 21, 2010 5:49pm Aug 21, 2010 5:49pm
Quoting Low
MarkVUM....
Could you post what EMA's you use?
Hi Low. I've changed the ema's and sma's a little bit since last posting them a couple of months back but these are the current one's I used on all TF's. I've been quite successful with them and yes they work great on the H4 TF.

I like the 150/200 crossover; 21/35 crossover and you can even use the 8/8 crossover.... a lot has to be said for the other crossover like the 8/21 and 21/200. I really like it when the 21 crosses below the 35 and then right after the 150 crosses below the 200...I let it ride until a candle closes above the 35. Very profitable at times! The green 50's and 62 I use as a "fish net".

Anyways, here they are. let me know if you have any questions. I'd be glad to try and help or explain.

MOVING AVERAGES
8 EMA - RED
8 SMA - BLUE
21 EMA - YELLOW
35 SMA - BLACK
50 EMA - DARK GREEN
50 SMA - LIGHT GREEN
62 EMA - NEON GREEN
95 SMA - BLUE/PURPLE
150 EMA - HOT PINK/PURPLE
200 SMA - ORANGE
365 SMA - LIGHT PINK

BOLLINGER BANDS
ON ALL CHARTS - H4, H1, M15
LENGTH = 20
DISPLACE = 0
NUM DEV DN = -2.0
NUM DEV UP = 2.0
PRICE = CLOSE
COLOR = LIGHT BLUE

STOCHASTICS
ON H4 AND M15
OVERBOUGHT = 46.0
OVERSOLD = -46.0
PERCENT D LENGTH = 3
PERCENT K LENGTH = 5

SUPPORT & RESISTANCE LINES
ON ALL CHARTS - H4, H1, M15
USE DAILY AND WEEKLY LINES
THESE CHANGE REGULARLY - WEEKLY (EACH WEEK) DAILY (ABOUT 5PM EST)
http://www.actionforex.com/technical...-200603205734/
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #7,971
  • Aug 21, 2010 6:00pm Aug 21, 2010 6:00pm
Quoting MarcVUM
Hi Low. I've changed the ema's and sma's a little bit since last posting them a couple of months back but these are the current one's I used on all TF's. I've been quite successful with them and yes they work great on the H4 TF.
Thanks Marc,

I'll build 2 new profiles tonight one with the MA's and one with the bands, I'm not really sure I can handle that much stuff on my charts, but as long as they are segregated it should be fine.

That'll put me at a total of 5 separate profiles hosting the same 25+ pairs for weekly review....

Anyways, I'm really banging my head up against a wall trying to isolate the cause of some of my trade failures. I know there will always be losers, but there needs to be less losers.

If I have any Q's I'll ask.

Thanks
  • #7,972
  • Aug 22, 2010 7:27am Aug 22, 2010 7:27am
Been looking over the charts trying to get some ideas for this week.

A/U - Still in short at 9070 area from my post last week. Looking for previous support/50% fib/AB = CD pattern. Only thing that has me concerned is the friday rally and daily close. I'm hoping it was mostly a "buy rumor sell the news" for the Aussie elections.

Anyways, stops in the green, letting this one ride out the week.

Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 110 KB


E/U - Looking to get in short on a retest of the broken 4H trendline/previous support. New down channel also comes in around those levels.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 112 KB


Take it for what it's worth, I'm hardly an expert

Look good to anyone else?
  • #7,973
  • Aug 22, 2010 8:23am Aug 22, 2010 8:23am
Quoting LiquidMix
Been looking over the charts trying to get some ideas for this week.

A/U - Still in short at 9070 area from my post last week....


another possible outcome with respect to dx and ex



Attached Image (click to enlarge)
Click to Enlarge Name: dx.jpg Size: 75 KB


Attached Image (click to enlarge)
Click to Enlarge Name: euro index.jpg Size: 82 KB
  • #7,974
  • Aug 22, 2010 9:24am Aug 22, 2010 9:24am

Everyones different but 25 pairs would be a bit of an information overload for me. I was trading 12 + pairs and found that my ability to make timely trade decisions was impaired, now I focus soley on 6. Something to ponder...


Quoting Low
Thanks Marc,

I'll build 2 new profiles tonight one with the MA's and one with the bands, I'm not really sure I can handle that much stuff on my charts, but as long as they are segregated it should be fine.

That'll put me at a total of 5 separate profiles hosting the same 25+ pairs for weekly review....

Anyways, I'm really banging my head up against a wall trying to isolate the cause of some of my trade failures. I know there will always be losers, but there needs to be less losers.

If I have any Q's I'll ask.

Thanks
Annoying Precision
  • #7,975
  • Aug 22, 2010 11:09am Aug 22, 2010 11:09am
Quoting Low
MarkVUM....



I also may play around with pivots, I assuming they can be found by checking the thread attachments?

Thanks in advance.

Please bear in mind I'm trading daily/weekly setups, but often looking for 4 entry/exit cues.
Hello Low. I would to add something about pivots. They can be most helpful when you want to entries or even just turning points on PA. Obviously there are the daily, weekly, and monthly PP. Early on I used daily PP because that is what I was taught. However, I found that they were too noisy like always trading the lower can be at times. so now I just use the weekly PP. I respect them a lot. The simple reason is they work. By work I mean they often determine points of S/R. the funny thing is you will find they often correlate with other indicators like supply and demand points. Try this. Download the weekly PP file here on FF and do a quick visual on the 4h TF. It is a eureka moment when you find they play around the pivots a lot. Now by no means is this my sole indications. I am not swearing that PA will only move around these pivots. The point in trading is to give yourself an edge is probability. Weekly PP will do that for you. I can't tell you how many times PA have exploded for hours only to stop on a dime right at weekly PP. Well had you set your TG/TP righ at that PP minus 5 pips you would have made max profit. Another setup is divergence. Many times on your visual you will notice that when div shows up on 4h, price action will exceed the previous high/low right to the next weekly PP and turn around for 30,50, or even 100+ plus pips. Also with this sometimes price will match that prvious high/low and form a double top or bottom right at a weekly PP. These are nice trades because you can set your stop so tight your RR will usually be good. I just picked a random pair from my charts to show examples. Just by scanning this CADCHF pair you will see that many times PA would stop exactly at one of the thick line which are weekly PP. something to try is look at Red's charts with his supply and demand concept. Take a look at where he would say price should hit demand or supply and then check the weekly pp in that area. Again it will often show it hitting sometimes to the pip. Finally, if you notice that PA will dance in thhe middle of weekly PP, this is where you may want to download daily PP which may show you exactly why. I hope this helps add a extra dimension to your decision making and therefore improving your win/loss. Have a great week of trading.
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf 4h aug 20.gif Size: 56 KB
  • #7,976
  • Aug 22, 2010 12:01pm Aug 22, 2010 12:01pm
Quoting Josh44
Hello Low. I would to add something about pivots. They can be most helpful when you want to entries or even just turning points on PA. Obviously there are the daily, weekly, and monthly PP. Early on I used daily PP because that is what I was taught. However, I found that they were too noisy like always trading the lower can be at times. so now I just use the weekly PP. I respect them a lot. The simple reason is they work. By work I mean they often determine points of S/R. the funny thing is you will find they often correlate with other indicators...


Attached Image (click to enlarge)
Click to Enlarge Name: cadchf.jpg Size: 60 KB
  • #7,977
  • Aug 22, 2010 12:06pm Aug 22, 2010 12:06pm
wekly pp

where can i get the weekly pp indicator in ff
thanks
  • #7,978
  • Aug 22, 2010 12:09pm Aug 22, 2010 12:09pm
Quoting erikte279

Everyones different but 25 pairs would be a bit of an information overload for me. I was trading 12 + pairs and found that my ability to make timely trade decisions was impaired, now I focus soley on 6. Something to ponder...

It's really quite easy for me, considering most of them are in-between setups, I only have to pay attention to the pairs that are at/near area's of interest, or manage existing trades.

Remember, I like to be in my trades for days/weeks/months. These opportunities don't come up every day.
  • #7,979
  • Aug 22, 2010 12:12pm Aug 22, 2010 12:12pm
Quoting shanem
wekly pp

where can i get the weekly pp indicator in ff
thanks
Click on the little paper clip to the right of the page numbers at the top of the page, it will list all attachments. Then click "hide images" and the list will be almost exclusively indi's that people have put up. Lots of different pivot indi's in there.
  • #7,980
  • Aug 22, 2010 12:37pm Aug 22, 2010 12:37pm
We are an hour and 20 minutes till open and there are some nice BIG gaps atm. Free Money!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
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