Islander and Medici trade the European open | Page 135 | Forex Factory

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Islander and Medici trade the European open

  • #2,681
  • Aug 30, 2010 5:09pm Aug 30, 2010 5:09pm
Quoting medici
Glad to see that you are making pips with the tools shared here. Do you have a preference for counter-trend trading, Moxie?
Kina.. Thats why i'd like to get more comfortabe trading of the fib levels with div on the C11.. Hope you get a chance to put a fib chart up some time tomorrow.. What are your thought on 4 hr fib charts stragling the last swin high or low..

Of to bed now.

Thanks Moxie

Night has brought to those who sleep, only dreams they can not keep.
  • #2,682
  • Aug 31, 2010 2:15am Aug 31, 2010 2:15am
Medici, I took this screen shoot to illustrate a problem I have in identifying divergence.. Price was bouncing around asain low, and was just out side BB bands I expected it to go up was looking to the c11 for confirmation,

price was going lower c11 was turning up but then leveled off, Just at this point I was going to trade long but chickened out as I was afaird that it may turn down..
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  • #2,683
  • Aug 31, 2010 2:43am Aug 31, 2010 2:43am
If you don't mind...I'll offer my thoughts

See attached.

What you have here was price constantly making a Higher High

While the CII was making Lower Highs

Which is regular Bearish Divergence

I actually took this trade and laid off the little down moves before hand by looking at the M15 chart...

When looking short, trend lines ON TOP and vice versa

-Darren
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  • #2,684
  • Aug 31, 2010 2:59am Aug 31, 2010 2:59am
Hi Darren, On your example you have drawn the thread line on thr C11 threw one of the peaks, I did'nt know you could do that.. Thanks for your reply.

Moxie
  • #2,685
  • Aug 31, 2010 3:06am Aug 31, 2010 3:06am
Darren Is this the way you would have looed at the market at that time, pa makes a lower low + out side BB bands..

Hope medici does'nt mind me asking questions on his thread.

Moxie
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  • #2,686
  • Aug 31, 2010 3:13am Aug 31, 2010 3:13am
Quoting Moxie
Darren Is this the way you would have looed at the market at that time, pa makes a lower low + out side BB bands..

Hope medici does'nt mind me asking questions on his thread.

Moxie
No expert here, but I attached your pic with what I saw as clear divergence (bullish convergence actually) a little later, drawn in light blue. I didn't take that trade, but looks pretty good as a setup to me, and obviously it would have worked.

Not sure about the drawing through the peaks thing; I think better to just connect the highs/lows, and see if any divergence stands out clearly. Just my 2 cents here, but for what it's worth. Of course also interested to hear from Medici myself
Attached Image (click to enlarge)
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  • #2,687
  • Aug 31, 2010 3:18am Aug 31, 2010 3:18am
Quoting TC East
Not sure about the drawing through the peaks thing; I think better to just connect the highs/lows, and see if any divergence stands out clearly. Just my 2 cents here, but for what it's worth. Of course also interested to hear from Medici myself
Agreed bro
  • #2,688
  • Aug 31, 2010 4:32am Aug 31, 2010 4:32am
Quoting Moxie
Medici, I took this screen shoot to illustrate a problem I have in identifying divergence.. Price was bouncing around asain low, and was just out side BB bands I expected it to go up was looking to the c11 for confirmation,

price was going lower c11 was turning up but then leveled off, Just at this point I was going to trade long but chickened out as I was afaird that it may turn down..
Hi Moxie, I took that trade myself.

What I saw was clear CI divergence and then a spike down through upward sloping BB down to S1 at 1.2625 which gave a clear bounce signalling the end of the down move. So I hopped on under 1.2930.

Did that answer the question?
  • #2,689
  • Aug 31, 2010 4:34am Aug 31, 2010 4:34am
Quoting TC East
No expert here, but I attached your pic with what I saw as clear divergence (bullish convergence actually) a little later, drawn in light blue. I didn't take that trade, but looks pretty good as a setup to me, and obviously it would have worked.

Not sure about the drawing through the peaks thing; I think better to just connect the highs/lows, and see if any divergence stands out clearly. Just my 2 cents here, but for what it's worth. Of course also interested to hear from Medici myself
Hi TC East, please see my answer to Moxie.
  • #2,690
  • Aug 31, 2010 4:34am Aug 31, 2010 4:34am
Quoting Moxie
Darren Is this the way you would have looed at the market at that time, pa makes a lower low + out side BB bands..

Hope medici does'nt mind me asking questions on his thread.

Moxie
Feel free, this is supposed to be a cozy environment for everybody to interact
  • #2,691
  • Aug 31, 2010 5:08am Aug 31, 2010 5:08am
Hey there mr fundamental medici haha.
You guys know alittle bit more(ok much more) than me about the fundies i just trade the screan, is there anything thts holding GU, eu is really giving some nice profit but GU is just sitting there its rather annoying.

Thanks.

I know overnights consilidation might act as resistance but i am just wondering if there is somthing thts holding the currency back?
  • #2,692
  • Aug 31, 2010 5:24am Aug 31, 2010 5:24am
Quoting CoffeeDrinke
Hey there mr fundamental medici haha.
You guys know alittle bit more(ok much more) than me about the fundies i just trade the screan, is there anything thts holding GU, eu is really giving some nice profit but GU is just sitting there its rather annoying.

Thanks.

I know overnights consilidation might act as resistance but i am just wondering if there is somthing thts holding the currency back?
Hello there, I don't think the fundamentals move currencies much, to be honest, and when it comes to cable, it's just one of those days. She had a rough night last night and is a bit hungover or something.

The more serious answer would be that it's about two things: (1) What's on the dealers' order books, and (2) Uncertainty about equity markets. The answer to (1) is 'probably not much' and to (2) 'it might just crash or it might reverse, or what not'. Hence the lull.
  • #2,693
  • Aug 31, 2010 5:35am Aug 31, 2010 5:35am
Quoting medici
Hello there, I don't think the fundamentals move currencies much, to be honest, and when it comes to cable, it's just one of those days. She had a rough night last night and is a bit hungover or something.

The more serious answer would be that it's about two things: (1) What's on the dealers' order books, and (2) Uncertainty about equity markets. The answer to (1) is 'probably not much' and to (2) 'it might just crash or it might reverse, or what not'. Hence the lull.
Hungover so you two arnt just teazing over the weekends anymore haha.
crash or reverse nice annalysis, i was also thinking it might go up or down.
well i guess we prob going to have to wait for NY to see if its going to give us a nice, so to say, pop.
  • #2,694
  • Aug 31, 2010 5:37am Aug 31, 2010 5:37am
Quoting CoffeeDrinke
Hungover so you two arnt just teazing over the weekends anymore haha.
crash or reverse nice annalysis, i was also thinking it might go up or down.
well i guess we prob going to have to wait for NY to see if its going to give us a nice, so to say, pop.
Yep, and if you want an alternative to our sleepy Mistress, check out Aussie which is strongly correlated to the equities markets.
  • #2,695
  • Aug 31, 2010 5:40am Aug 31, 2010 5:40am
Quoting medici
Yep, and if you want an alternative to our sleepy Mistress, check out Aussie which is strongly correlated to the equities markets.
Nope only eu and gu for me.
But thanks for the hint.
  • #2,696
  • Edited 8:40am Aug 31, 2010 8:28am | Edited 8:40am
Hi guys looking at this trade right now.. Not trying to pick tops or bottoms.. If pa hits the top trend line again around xxx45 ill take the short

UPdate, Looks like I missed that one should have went short on the second touch of trend line, would be in 20 pips now.. news coming out shortly so ill sit on my hands...
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  • #2,697
  • Aug 31, 2010 8:44am Aug 31, 2010 8:44am
Quoting TC East
No expert here, but I attached your pic with what I saw as clear divergence (bullish convergence actually) a little later, drawn in light blue. I didn't take that trade, but looks pretty good as a setup to me, and obviously it would have worked.

Not sure about the drawing through the peaks thing; I think better to just connect the highs/lows, and see if any divergence stands out clearly. Just my 2 cents here, but for what it's worth. Of course also interested to hear from Medici myself
Maybe I got lucky on that one? Hope I didn't screw you guys up. Sorry Medici.
  • #2,698
  • Aug 31, 2010 8:45am Aug 31, 2010 8:45am
Damn its been sitting at this bad ass support almost all day, but it just doesnt want to pop haha
  • #2,699
  • Aug 31, 2010 8:46am Aug 31, 2010 8:46am
Quoting Moxie
Hi guys looking at this trade right now.. Not trying to pick tops or bottoms.. If pa hits the top trend line again around xxx45 ill take the short

UPdate, Looks like I missed that one should have went short on the second touch of trend line, would be in 20 pips now.. news coming out shortly so ill sit on my hands...
No need apologising for picking tops/bottoms...it's the coolest game in town

...and should more aptly be called 'trading off S/R levels'. 2735 is an old battleline from the past couple of weeks.

News should be fun...
  • #2,700
  • Aug 31, 2010 8:47am Aug 31, 2010 8:47am
Quoting pilotui
Maybe I got lucky on that one? Hope I didn't screw you guys up. Sorry Medici.
Darren I dont think it was luck at all.. Any one that is taking 30 pips or so a day from forex I for one am very intrested in your thought process..
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