Islander and Medici trade the European open | Page 124 | Forex Factory

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Islander and Medici trade the European open

  • #2,461
  • Aug 26, 2010 11:11pm Aug 26, 2010 11:11pm
Quoting okrutny
I closed short on euro and took long because was not following cable at all, now cable stopped at bottom of yesterday's range at 5504, so i took small initial buy also
As daring as I remember you! Be careful when playing with Our Mistress...
  • #2,462
  • Aug 26, 2010 11:15pm Aug 26, 2010 11:15pm
Cable has a 50% level at 5493 off my 15 m chart...€s at its open level - i.e. yesterdays NY close....
Trading Levels with WRBs
  • #2,463
  • Aug 26, 2010 11:18pm Aug 26, 2010 11:18pm
Quoting reflex
Cheers for that.
And my aim is to be able to get a consistent 100 pips a week like you said in a previous post its much better to get 10-20 a day then 150 evey once in a while.
As soon as I've done 100 a week for 3-4months then I will go up to risk of 1.5%-2%.

Nice divergence calling the drop at 6.10am on cable!
And in addition the good ole trick of pullback to the overnight 76.4/23.6% level - see chart. When you see that followed by order activity in the other direction, you know that the boys have some serious mischief up their sleeves. So it's a matter of entering and collecting the paycheck around 8am or so

Methinks they have orders in the 5460-80 area in view, it not nasty stops below.
Attached Image (click to enlarge)
Click to Enlarge Name: cable m1 27 aug.gif Size: 30 KB
  • #2,464
  • Aug 26, 2010 11:24pm Aug 26, 2010 11:24pm
CAble's 2 small red 5min candles after FO have higher volumes, usually a sign of hidden buying.....and so I have taken an initial small one, against the still falling emas
Trading Levels with WRBs
  • #2,465
  • Aug 26, 2010 11:25pm Aug 26, 2010 11:25pm
Quoting Islander
Cable has a 50% level at 5493 off my 15 m chart...€s at its open level - i.e. yesterdays NY close....
Have the same on my charts, and with CI turning up I took my money off the table.
  • #2,466
  • Aug 26, 2010 11:30pm Aug 26, 2010 11:30pm
Quoting medici
And in addition the good ole trick of pullback to the overnight 76.4/23.6% level - see chart. When you see that followed by order activity in the other direction, you know that the boys have some serious mischief up their sleeves. So it's a matter of entering and collecting the paycheck around 8am or so

Methinks they have orders in the 5460-80 area in view, it not nasty stops below.
Cheers for that bit of info and I'm thinking short today 4hour got div not only reason for looking short but will be interesting to see how well it works. Still if I get longs I will do them.
1st targtre 15462 last weeks low same area as you. but GDP might change everything.
  • #2,467
  • Aug 26, 2010 11:34pm Aug 26, 2010 11:34pm
Quoting reflex
Cheers for that bit of info and I'm thinking short today 4hour got div not only reason for looking short but will be interesting to see how well it works. Still if I get longs I will do them.
1st targtre 15462 last weeks low same area as you. but GDP might change everything.
Hmm, I'd rather say the div was at yesterday's highs...
  • #2,468
  • Aug 26, 2010 11:35pm Aug 26, 2010 11:35pm
I closed that buy when it hit the earlier lows ~5513, also the 5m 30 ema....typical mid FH push http://cdn.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #2,469
  • Aug 26, 2010 11:38pm Aug 26, 2010 11:38pm
Quoting medici
Hmm, I'd rather say the div was at yesterday's highs...
Ok I have a few questions on that but will ask later if thats ok when its quieter.

Cheers
  • #2,470
  • Aug 26, 2010 11:44pm Aug 26, 2010 11:44pm
Quoting Islander
I closed that buy when it hit the earlier lows ~5513, also the 5m 30 ema....typical mid FH push http://cdn.forexfactory.com/images/icons/icon12.gif
Closed mine when it stalled at 5520. Now next oppty...
  • #2,471
  • Aug 26, 2010 11:47pm Aug 26, 2010 11:47pm
Quoting medici
And in addition the good ole trick of pullback to the overnight 76.4/23.6% level - see chart. When you see that followed by order activity in the other direction, you know that the boys have some serious mischief up their sleeves. So it's a matter of entering and collecting the paycheck around 8am or so

Methinks they have orders in the 5460-80 area in view, it not nasty stops below.
I'm so impressed by your reading of the market, it's like you have a crystal ball.

I'm new to trading, but the way I learnt was position trading on longer time frames, the way my teacher trades is mainly all break out trading, with the current market ,his techniques and my psychology, I'm finding it really tough with all the whipsaws so have started looking into trading shorter timeframes for smaller pip profits, as you stated somewhere earlier in this thread, it's better to make a consistant 20 pips a day then 100 pips every now and then.

I'm on my way now reading through this thread hoping to learn the techniques shared here.

Unfortunately as a junior member, noone will probably read this post as it will most likely get released 4 hours later

Looking forward to one day become a contributing member of this thread.
  • #2,472
  • Aug 26, 2010 11:47pm Aug 26, 2010 11:47pm
Quoting reflex
Ok I have a few questions on that but will ask later if thats ok when its quieter.

Cheers
Post them whenever you like and I'll respond when I have the time.
  • #2,473
  • Aug 26, 2010 11:51pm Aug 26, 2010 11:51pm
Quoting medici
Closed mine when it stalled at 5520. Now next oppty...

Nice - The Mistress has offered us a nice 30 / 40 pips to start our day....an easy sell and a slightly more difficult buy......hope you guys got some of those moves....
Trading Levels with WRBs
  • #2,474
  • Aug 26, 2010 11:55pm Aug 26, 2010 11:55pm
Still think 5460-80 is a possibility. Now the 8am fix...let's see...
  • #2,475
  • Aug 26, 2010 11:58pm Aug 26, 2010 11:58pm
Some of the opportunities.......
Attached Image (click to enlarge)
Click to Enlarge Name: aug 27 cable 1m fh.gif Size: 16 KB
Trading Levels with WRBs
  • #2,476
  • Aug 27, 2010 12:14am Aug 27, 2010 12:14am
In this short ...
entered 8 min before LO .
Would you have waited to see the LO open ?
OR if all conditions meet , the press the sell button ...
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.jpg Size: 122 KB
  • #2,477
  • Aug 27, 2010 12:14am Aug 27, 2010 12:14am
Reverse CI divergence indicating the short from the 38.2% level.
Attached Image (click to enlarge)
Click to Enlarge Name: cable m5 27 aug.gif Size: 30 KB
  • #2,478
  • Aug 27, 2010 12:14am Aug 27, 2010 12:14am
Has today been a textbook day so far? Or maybe I'm getting better at identifing levels from reading this thread.
6.10 CI divergence 23% of overnight range 7.15 turns at RN/93 50% retrace as islander said.
Back up to Line in the sand? The 25 level (aprils high) and 50% of the tight overnight range for a short back down to the low.

all turning areas confirmed by div.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-08-27_0813.jpg Size: 140 KB
  • #2,479
  • Aug 27, 2010 12:16am Aug 27, 2010 12:16am
Quoting david4u
In this short ...
entered 8 min before LO .
Would you have waited to see the LO open ?
OR if all conditions meet , the press the sell button ...
One of the dangers of following the M1 too closely, at least for me. So entered the short late and now out for a few measly ones.

It pays to follow the market on M5, this proves to me...
  • #2,480
  • Aug 27, 2010 12:17am Aug 27, 2010 12:17am
Quoting reflex
Has today been a textbook day so far? Or maybe I'm getting better at identifing levels from reading this thread.
6.10 CI divergence 23% of overnight range 7.15 turns at RN/93 50% retrace as islander said.
Back up to Line in the sand? The 25 level (aprils high) and 50% of the tight overnight range for a short back down to the low.

all turning areas confirmed by div.
Three people posting identical charts...there must be something to this CI divergence
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