Islander and Medici trade the European open | Page 132 | Forex Factory

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Islander and Medici trade the European open

  • #2,621
  • Aug 27, 2010 1:33pm Aug 27, 2010 1:33pm
Hi Sim just watching tonight... Yes in the past I have traded indices.. also trade some uk shares with a futures broker.. But i'd love to master this FX. So glad I came across this thread, have learnt a lot this last few days, Ill be posting more questions for Medici & islander over the weekend.

Moxie

The wise man know's, what he does'nt know.
  • #2,622
  • Aug 27, 2010 1:34pm Aug 27, 2010 1:34pm
Quoting Moxie
The wise man know's, what he does'nt know.
In that case, I am VEEEEEERY wise

Or .. am i :S

This thread, as someone said before, is a dammmn good learning resource, I was lucky to have found it a few months back also
  • #2,623
  • Aug 27, 2010 1:36pm Aug 27, 2010 1:36pm
Quoting Moxie
Hi Sim just watching tonight... Yes in the past I have traded indices.. also trade some uk shares with a futures broker.. But i'd love to master this FX. So glad I came across this thread, have learnt a lot this last few days, Ill be posting more questions for Medici & islander over the weekend.

Moxie

The wise man know's, what he does'nt know.
Keep them coming. And have a wonderful weekend!
  • #2,624
  • Aug 28, 2010 12:03am Aug 28, 2010 12:03am
Hi medici
Was this a valid confluence setup that did not work
or was I hallucinating it ?
any way to filter this one ?
Or is it an example of the less predictable US session ?
Tks and have a great week end
David
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  • #2,625
  • Aug 28, 2010 12:49am Aug 28, 2010 12:49am
Quoting medici
The thought is growing on me...

What do you think of a HotComm based chat room, just like the prop firms, so the paying members could here our beautiful voices over the system, and we could make trade calls in real time - which would more than make up for the fee?

Speaking of which, somewhere in the $100s per month would be reasonable, don't you think?

Should offer some variety to your maritime teaching, which sounds interesting...

I'm having a very decent glass of Chablis here. You and all, have a nice weekend and see you Monday!
That sound like a brilliant idea Medici.

Over the years I have been a member of a handful of live trading rooms, every one of them has been extremely beneficial. Most importantly for listening and understanding how successful traders view the charts every morning.

Why they enter trades how they manage them and then exit them
live in real time is priceless IMHO.

Trading as a group often benefits the tutors as well, I and a few trader friends meet up on skype at around 6am every morning, we all share our ideas and views, it is amazing how much you improve just by listening to, and discussing setups in real time.

$100 sounds very reasonable. Where do I signup?
  • #2,626
  • Aug 28, 2010 4:48am Aug 28, 2010 4:48am
Quoting david4u
Hi medici
Was this a valid confluence setup that did not work
or was I hallucinating it ?
any way to filter this one ?
Or is it an example of the less predictable US session ?
Tks and have a great week end
David
Mornin champs,

some points regardin your chart Dave until medici gets here (his friday nights are quite chaotic, and, well, some would say simply sadomasochistic).

First thing is we have the rapid spike down because of the bernanke speaking (i think).. so we know how fake that speech and news crap is most of the time. So momentum had switched up and that pause simply would not be enough to warrant a shift in momentum.. I would also hazard a guess that there was no significant level to play off there

So when they talk about CCI div, IMVHO, let it confirm setups from levels and once price action is telling you a reversal is imminent, i.e. you see momentum you wanna wait it out and see somethin good. a pause like that really just has more chance in continuation
  • #2,627
  • Aug 28, 2010 4:55am Aug 28, 2010 4:55am
Here's some food for thought. The lines help give a different perspective.

When an established range has a false breakout, and there is a strong break back in, indicated here by the large engulfing candle, the highest odds are it is going back to the top of the range. Here we also have obvious trendlines to confirm entry and exit.

Simple I know, and I view range lines, TLs, fibs, SR as all the same, key is defining the importance of what you are gonna pick. Just go for as obvious as possible like medlander point out to us
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  • #2,628
  • Aug 28, 2010 5:42am Aug 28, 2010 5:42am
Quoting Sim
Mornin champs,

some points regardin your chart Dave until medici gets here (his friday nights are quite chaotic, and, well, some would say simply sadomasochistic).

First thing is we have the rapid spike down because of the bernanke speaking (i think).. so we know how fake that speech and news crap is most of the time. So momentum had switched up and that pause simply would not be enough to warrant a shift in momentum.. I would also hazard a guess that there was no significant level to play off there

So when they talk about CCI div, IMVHO,...
Hi sim and david

I was watching the same trade as you david.
I know it easy to think of reasons for why a trade shouldn't have been done after its lost. But these were my reasons for not doing it.

I spend alot of time on the hour chart and on the spike down when benarke spoke we hit a support on the hour (15444).
after the bounce off 15444 the hour was back up above the previous weeks low 15462 and S/R.
I know the hour candle still had 5-10mins to close but it was looking like it was going to close as a hammer above the S/R at 15462.
So to me after that hour close it was more than likely going to go up to 15525 (aprils high) and S/R on the hour also was the DP for friday.

Thats just how I saw it.
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  • #2,629
  • Aug 28, 2010 6:25am Aug 28, 2010 6:25am
Quoting reflex
Hi sim and david
Howdy bro

Good lookin out on h1.. I flicked to GJ at the time and faded that sucker,, just an extended spike down into an obvious SR area

Here, have a song

Inserted Video


edit: wow I didn't know vids get automatically embedded,, I like!
  • #2,630
  • Aug 28, 2010 8:09am Aug 28, 2010 8:09am
Quoting Sim
Howdy bro

Good lookin out on h1.. I flicked to GJ at the time and faded that sucker,, just an extended spike down into an obvious SR area

Here, have a song

http://www.youtube.com/watch?v=EaSjngM8loU

edit: wow I didn't know vids get automatically embedded,, I like!
Nice!
both the song and trade.

Have a video lol

Inserted Video
  • #2,631
  • Aug 28, 2010 9:44am Aug 28, 2010 9:44am
Quoting reflex
Have a video lol
Lol
  • #2,632
  • Aug 28, 2010 10:00am Aug 28, 2010 10:00am
Quoting Sim
Mornin champs,

some points regardin your chart Dave until medici gets here (his friday nights are quite chaotic, and, well, some would say simply sadomasochistic).

First thing is we have the rapid spike down because of the bernanke speaking (i think).. so we know how fake that speech and news crap is most of the time. So momentum had switched up and that pause simply would not be enough to warrant a shift in momentum.. I would also hazard a guess that there was no significant level to play off there

So when they talk about CCI div,...
After your disclosure of your taste for goats, I think any further attempts to enlighten you on the relevance of S&M for trading would be in vain, but do note that both Islander and I have clearly indicated it's relevance

As far as David's question is concerned, that sums it up pretty well, I think. Thanks, Sim.

At the same time, price was close to the SMA20 (EMA30 for Islander) and one may wonder whether the there is a continuation trade down to be had? And, as Sim points out, PA down at the strong support area around 5540-60 indicates a reversal more than anything.

In terms of CI+BB, the drop down to said area was outside the BBs and CI was at support level (note that CI also works as OB/OS indicator at highs/lows of the indicator value, i.e. CI forms S/R areas in itself), so that was the CI+BB long entry with possible target at next divergence on the upside.

Which was a trade I would have loved to take if I hadn't been distracted by the ass-wipe who was polluting the thread, as well as unhealthy staring at M1 charts prior to that.

This place is filling up with plebs en masse, and it's getting unbearable, so I plan to evacuate myself to leafy Dulwich for a quiet pint with a friend. So will not be posting much, but plan to be back for Monday morning in spite of the plebs, which today made me plug my iPod into my ears and play Metallica's Kill 'Em All album loud:

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They've also made an excellent album called S&M...speaks for quality, in my view.
  • #2,633
  • Aug 28, 2010 12:42pm Aug 28, 2010 12:42pm
Quote
After your disclosure of your taste for goats, I think any further attempts to enlighten you on the relevance of S&M for trading would be in vain, but do note that both Islander and I have clearly indicated it's relevance

I second that! Sometimes the bond between a man and his goat is unbreakable.

Quote
This place is filling up with plebs en masse, and it's getting unbearable, so I plan to evacuate myself to leafy Dulwich for a quiet pint with a friend.

Leafy ehh.. u ain't seen nothin yet! Do you ever pop down to greenwich too?? I think a nandos feast is on the cards !

Quote
They've also made an excellent album called S&M...speaks for quality, in my view.

No comment. hahah

Reflex. AWESOME clip looooooooool!!
  • #2,634
  • Aug 28, 2010 4:20pm Aug 28, 2010 4:20pm
Islander, This is a chart you posted Friday morning, if you get some free time tomorrow, could you label the exact candle you would have entered on and your reasoning for doing so.. 1 min is too fast for me yet but would be grateful for your insight..

Medici Thanks for your warm welcome to the thread, I live in North Ireland, Co, Tyrone 40-miles west of Belfast and 150 miles from Galway unfortunately, I hope you enjoyed your stay in Ireland.

Medici, On friday in one of your posts, you referred to the difficulity in drawing fibonacci retracements correctly onto charts..Would there be any possibility that you could post an E/U chart before London open with your fib levels drawn.? and update it some time durning the course of the day.. only for a few days until I comprehend drwaing them accurately for myself.

Regards Moxie

Smart Money Anticipates...Dumb money reacts.
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  • #2,635
  • Aug 28, 2010 9:15pm Aug 28, 2010 9:15pm
Hello Medici and Islander.

Not sure if I have said hello in the past, but I read this thread and the other one every day. Have learnt quite a lot, and still use snipets to help refine my trading.

Would like to say a big thank you to both for a fantastic thread.

I trade EU, but am a scalper on very short time frames. For a long time I struggled with trading because I was just trying (quite unsuccessfully) to trade continuations on the smaller tf. For some time now, I am trading bounces, fading, and contra to the current move, which has turned my trading around quite a bit.

Islander's 30ema has helped me a bit as well, but Medici's addition of the 100 BB to the 1M chart was a fantastic snipet. Many thanks. Combined with levels, ie pivots, high vol zones, price at extreme levels outside of the BB on the 1M chart has been the icing on the cake that I was looking for.

Many thanks once again.

Regards,
K.
  • #2,636
  • Aug 28, 2010 9:46pm Aug 28, 2010 9:46pm
good job... hope always green...
sharpshooter.......
  • #2,637
  • Aug 29, 2010 8:48am Aug 29, 2010 8:48am
Quoting Sim
I second that! Sometimes the bond between a man and his goat is unbreakable.
I can imagine...

Quote

Leafy ehh.. u ain't seen nothin yet! Do you ever pop down to greenwich too??

I think you got that comparison wrong, pal.

Quote
I think a nandos feast is on the cards !

38FFs, 1min scalping, goat molestation, nando's, where will it end....
  • #2,638
  • Aug 29, 2010 8:55am Aug 29, 2010 8:55am
Quoting Moxie

Medici Thanks for your warm welcome to the thread, I live in North Ireland, Co, Tyrone 40-miles west of Belfast and 150 miles from Galway unfortunately, I hope you enjoyed your stay in Ireland.
You're welcome. Glad to have you here.

Never be to Tyrone, or even NI, but heard nice things. A friend of mine spent a few years in Bangor and loved it.

My stay in Ireland was wonderful, and something I wouldn't want to have been without. Loved it, and every once in a while I get this longing to go back...

Quote

Medici, On friday in one of your posts, you referred to the difficulity in drawing fibonacci retracements correctly onto charts..Would there be any possibility that you could post an E/U chart before London open with your fib levels drawn.? and update it some time durning the course of the day.. only for a few days until I comprehend drwaing them accurately for myself.

Point taken. I may not have time to post charts while preparing trading, but will at least try to give levels, ranges, etc. Not at home now, so I don't have access to charts, but would otherwise have posted some. Will try to put a post together on the general principles when time allows.
  • #2,639
  • Aug 29, 2010 9:01am Aug 29, 2010 9:01am
Quoting kermut
Hello Medici and Islander.

Not sure if I have said hello in the past, but I read this thread and the other one every day. Have learnt quite a lot, and still use snipets to help refine my trading.

Would like to say a big thank you to both for a fantastic thread.
Thank you for kind words, and a warm welcome to the thread! Looking forward to your continued participation.

Quote

I trade EU, but am a scalper on very short time frames. For a long time I struggled with trading because I was just trying (quite unsuccessfully) to trade continuations on the smaller tf. For some time now, I am trading bounces, fading, and contra to the current move, which has turned my trading around quite a bit.

Take note, Sim - it's possible to move beyond that...

Quote

Islander's 30ema has helped me a bit as well, but Medici's addition of the 100 BB to the 1M chart was a fantastic snipet. Many thanks. Combined with levels, ie pivots, high vol zones, price at extreme levels outside of the BB on the 1M chart has been the icing on the cake that I was looking for.

That's excellent! Good to hear. Just the way I like it too.
  • #2,640
  • Aug 29, 2010 9:02am Aug 29, 2010 9:02am
Quoting semamak
good job... hope always green...
Thank you!
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