Islander and Medici trade the European open | Page 136 | Forex Factory

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Islander and Medici trade the European open

  • #2,701
  • Aug 31, 2010 8:49am Aug 31, 2010 8:49am
what a great morning...I TP'd @ 10p each.

One of my best days trading in over a year.

My goal is 30ppd so after I hit my mark I took the other trades at .10c pips.

It was good practice.

Comments are welcome on my chart!
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  • #2,702
  • Aug 31, 2010 8:52am Aug 31, 2010 8:52am
Quoting pilotui
what a great morning...I TP'd @ 10p each.

One of my best days trading in over a year.

My goal is 30ppd so after I hit my mark I took the other trades at .10c pips.

It was good practice.

Comments are welcome on my chart!
Congrats; looks great. I have a similar plan/daily target...
  • #2,703
  • Aug 31, 2010 8:58am Aug 31, 2010 8:58am
Despite news coming in mere minutes...this setup was perfect but I missed it while posting on FF--It's a curse I tell you!!
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  • #2,704
  • Aug 31, 2010 8:59am Aug 31, 2010 8:59am
Quoting TC East
Congrats; looks great. I have a similar plan/daily target...
Thanks Sir! Knowing how much you really need is the key!

Ok I've posted my obligatory 5 posts in 10 minutes.

Great day to all.

-Darren
  • #2,705
  • Aug 31, 2010 9:24am Aug 31, 2010 9:24am
Quoting medici
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?
Im here to learn.. Took this trade after a wick pierced a downward sloping BB and divergance on C11.. Sweet 12 pips..
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  • #2,706
  • Aug 31, 2010 9:29am Aug 31, 2010 9:29am
Quoting Moxie
Im here to learn.. Took this trade after a wick pierced a downward sloping BB and divergance on C11.. Sweet 12 pips..
Which trade? Do you mean the sell from 2740? I did that one but out now.
  • #2,707
  • Aug 31, 2010 9:33am Aug 31, 2010 9:33am
Quoting medici
Which trade? Do you mean the sell from 2740? I did that one but out now.
Yes Medici thats the one.. just took the screen shot after I pulled the trigger thanks for all your mentoring..
  • #2,708
  • Aug 31, 2010 9:37am Aug 31, 2010 9:37am
Quoting Moxie
Yes Medici thats the one.. just took the screen shot after I pulled the trigger thanks for all your mentoring..
You're welcome. That was also another level - 23.6% of the range from Thursday.

And when you have a long exhaustive candle to a level, that's often a sign of reversal.
  • #2,709
  • Aug 31, 2010 10:28am Aug 31, 2010 10:28am
Just wanted to pop in and say hello. I have been reading this thread, along with a few others which focus on similar theories, ie PA, S & R fibs etc, and would really like to join you guys for some trading tomorrow!

Do you ever stop learning in this game?
  • #2,710
  • Aug 31, 2010 11:07am Aug 31, 2010 11:07am
Quoting Delite
Just wanted to pop in and say hello. I have been reading this thread, along with a few others which focus on similar theories, ie PA, S & R fibs etc, and would really like to join you guys for some trading tomorrow!

Do you ever stop learning in this game?

Hello and Welcome!

And the answer is no.....and that's the attraction, at least for me, or rather one of them.

See you tomorrow!
  • #2,711
  • Aug 31, 2010 12:44pm Aug 31, 2010 12:44pm
Medici, I drew these fibs on my big picture chart this morning, Price seems to be in a range right now, A few posts back you said that you had taken a trade parshly because price had bounced of a fib level from Thursdays range, can you post a chart.

Delite just what we need an expert Fibonacci trader on board look forward to your contributions..

Moxie
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  • #2,712
  • Aug 31, 2010 12:59pm Aug 31, 2010 12:59pm
Hi Medici,

I posted these on Daves thread too but I am using your C11 divergence with 2b reversals and Daves HL LH entries to get back into the retracement after the impulse wave.

2b targets are nice. I hope you don't mind.

I only took GJ but was watching EJ too.
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  • #2,713
  • Aug 31, 2010 2:41pm Aug 31, 2010 2:41pm
Quoting Moxie
Medici, I drew these fibs on my big picture chart this morning, Price seems to be in a range right now, A few posts back you said that you had taken a trade parshly because price had bounced of a fib level from Thursdays range, can you post a chart.

Delite just what we need an expert Fibonacci trader on board look forward to your contributions..

Moxie
What I meant by Thursday's range was the London session range, i.e. 1.26660 to 1.27642. Put that on an M5 chart and check out the period since then, Friday in particular but also this week.

To get a feel for what ranges are in play is a bit of an art that comes with experience. As said, I'll try to post something on it, time permitting.
  • #2,714
  • Edited 3:15pm Aug 31, 2010 2:52pm | Edited 3:15pm
Quoting pilotui
what a great morning...I TP'd @ 10p each.

One of my best days trading in over a year.

My goal is 30ppd so after I hit my mark I took the other trades at .10c pips.

It was good practice.

Comments are welcome on my chart!
Darren, you're a star trader! Can't comment on the charts, but if you added S/R and Fibonacci levels to your arsenal you could get your 30 in one trade a lot of the time.

As an example, your buy from the 5362 level....which is just under 5368, the 38.2% level of the swing up from the bottom. See daily chart.

Now, why wasn't that Fib range drawn from the bottom? And why wasn't the other, upper, range drawn from the bottom? Generally speaking, there are ranges and waves, and waves mostly take precedence in trending markets, whereas ranges and ranging markets...sound like they belong together. And you would have to scale down to a 4 hour chart to get the levels.

Moxie, that was today's Fib lesson. TBC.
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  • #2,715
  • Aug 31, 2010 2:58pm Aug 31, 2010 2:58pm
Quoting jag1966
Hi Medici,

I posted these on Daves thread too but I am using your C11 divergence with 2b reversals and Daves HL LH entries to get back into the retracement after the impulse wave.

2b targets are nice. I hope you don't mind.

I only took GJ but was watching EJ too.
Don't mind at all. Thanks for sharing. CII divergence + HL/LHs is ok too...even though I personally prefer to take all pips that are offered

But HL/LHs is possibly a stabler and more stress-free way to trade..maybe I'll grow up one day
  • #2,716
  • Aug 31, 2010 3:05pm Aug 31, 2010 3:05pm
Quoting medici
Darren, you're a star trader! Can't comment on the charts, but if you added S/R and Fibonacci levels to your arsenal you could get your 30 in one trade a lot of the time.

As an example, your buy from the 5362 level....which is just under 5368, the 38.2% level of the swing up from the bottom. See daily chart.

Now, why wasn't that Fib range drawn from the bottom? And why wasn't the other, upper, range drawn from the bottom? Generally speaking, there are ranges and waves, and waves mostly take precedence in trending markets, whereas ranges and...
Med- thanks for the insight and detailed info. I will perhaps start to look up outside of my 5M chart now.

Thanks!

Darren
  • #2,717
  • Aug 31, 2010 3:10pm Aug 31, 2010 3:10pm
Here's one for Darren and Moxie. It pays to look at higher time-frames and Fibonacci levels. This one paid for the Guinness today And it was verified by divergence on M5 and M1...
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  • #2,718
  • Edited 4:19pm Aug 31, 2010 3:55pm | Edited 4:19pm
Quoting medici
You're welcome. That was also another level - 23.6% of the range from Thursday.

And when you have a long exhaustive candle to a level, that's often a sign of reversal.
Hi Medici,

Just wanted to pop in to thank you and Islander for all your time and work on this thread.
I've been studying this and your earlier thread and feel as if I'm on a very steep learning curve. Just how I like it!

Thanks also to all the other contributors - I am also learning from all your comments and charts.

I've also been trying to figure out how you draw your fibs and when you mentioned the 23.6 fib level for todays EU short from 2740 I drew the fib as per my chart below. The 2740 level was at the 74.6% pullback from the move down from Friday's high to today's low. I can see from your subsequent comments that you saw it differently but I was wondering how you view the validity of my fib on the H1 chart.

Appreciate any feedback.

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Follow, don't anticipate.
  • #2,719
  • Aug 31, 2010 4:19pm Aug 31, 2010 4:19pm
Quoting Ian
Hi Medici,

Just wanted to pop in to thank you and Islander for all your time and work on this thread.
I've been studying this and your earlier thread and feel as if I'm on a very steep learning curve. Just how I like it!

Thanks also to all the other contributors - I am also learning from all your comments and charts.

I've also been trying to figure out how you draw your fibs and when you mentioned the 23.6 fib level for todays EU short from 2740 I drew the fib as per my chart below. I can see from your subsequent comments that you...
You're welcome! And I am pleased that there's developing a bit of community here where people are learning from each other. Hope that continues to grow.

Very valid Fib range, and very likely in many people's focus. Brings up another point . most S/R level are Fib levels...or were. A topic with more than one facet to it, so let's leave it at that for now.

Once again, welcome to the thread, and please join the growing community
  • #2,720
  • Aug 31, 2010 4:38pm Aug 31, 2010 4:38pm
Quoting medici
You're welcome! And I am pleased that there's developing a bit of community here where people are learning from each other. Hope that continues to grow.

Very valid Fib range, and very likely in many people's focus. Brings up another point . most S/R level are Fib levels...or were. A topic with more than one facet to it, so let's leave it at that for now.

Once again, welcome to the thread, and please join the growing community
Thanks for the warm welcome. This place has certainly been buzzing recently.. long may it continue.

Yes I see your point as if I had zoomed out to the H4 (which I shall probably be doing from now on) I would have seen the strong S/R level as well which would give added confluence for any action at this level.

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Follow, don't anticipate.
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