Islander and Medici trade the European open | Page 145 | Forex Factory

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Islander and Medici trade the European open

  • #2,881
  • Sep 9, 2010 5:32am Sep 9, 2010 5:32am
Quoting Dr.Scalpall
Morning Chaps,
KerrChing!!!, First one of the day as follows, Trade based on price outside BB,Regular divergence indicating direction change (on my timeframe at least!! I haven't looked at the upper tf's yet?) a little bit of belief and way hay 20mins = 25pips - I am happy with amount and so decided to close the trade.

Hope you guys also caught it aswell.

doc.
Nice one! One thing you may want to experiment with on M1, discovered by Islander, is to use the golden line in the indicator originally posted here, i.e. the 13 min average of CII. Gives very nice signals.
  • #2,882
  • Sep 9, 2010 5:34am Sep 9, 2010 5:34am
Quoting rebelheart
MR med, Can the CII be used as over bought In this example the indi hit a high of 109 could this be a sign of turning point..?
Yes, in the sense that support/resistance levels can be used. But the indicator, unlike RSI and many others, isn't normalised, so you cannot automatically say that above 100 is OB, for example. You need to look back for support and resistance levels.
  • #2,883
  • Sep 9, 2010 8:38am Sep 9, 2010 8:38am
Quoting medici
Nice one! One thing you may want to experiment with on M1, discovered by Islander, is to use the golden line in the indicator originally posted here, i.e. the 13 min average of CII. Gives very nice signals.
Very close to the old daily fozzy signal. I used 8 rsi with 8 sma overlay for a long time. With the trading skills you guys have shouldn't have thought it necessary.
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  • #2,884
  • Sep 9, 2010 9:33am Sep 9, 2010 9:33am
Quoting Vantage
Very close to the old daily fozzy signal. I used 8 rsi with 8 sma overlay for a long time. With the trading skills you guys have shouldn't have thought it necessary.
Haha, I for one would do many stupid things without the indies to filter them out...and I still do them.

And actually, it's the average without CI, as in the attached.
Attached Image (click to enlarge)
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  • #2,885
  • Sep 9, 2010 10:48am Sep 9, 2010 10:48am
And here are some entries from this morning, based on the CI 13 minute average.
Attached Image (click to enlarge)
Click to Enlarge Name: eur m1 9 sept.jpg Size: 89 KB
  • #2,886
  • Sep 9, 2010 1:47pm Sep 9, 2010 1:47pm
So, it's been a week or two of positive US data, and the equity markets have consequently been buoyant. And one may wonder what's in store in the next few days and weeks.

According to the old trading slogan "buy the rumour, sell the fact" it should be about time for a sell-off.

As you can see in the SPX chart CI is in bearish divergence, confirming this hunch. And in spite of positive news, SPX hasn't been able to hold above the important 1107 level and is hanging just above yesterday's high.

Tomorrow being "risk-off" Friday, it is possible that the week ends in a risk averse way. If so, there could be good short opportunities, in particular in Aussie and Euro.
Attached Image (click to enlarge)
Click to Enlarge Name: spx daily 9 sept.jpg Size: 353 KB
  • #2,887
  • Sep 9, 2010 2:29pm Sep 9, 2010 2:29pm
Final little bit ahead of tomorrow morning...

1.2708 has been a battle line over the past couple of days, so you may want to keep the "line in the sand" pattern in mind tomorrow morning:

http://www.forexfactory.com/showpost...&postcount=245
  • #2,888
  • Sep 9, 2010 4:29pm Sep 9, 2010 4:29pm
Quoting medici
Nice one! One thing you may want to experiment with on M1, discovered by Islander, is to use the golden line in the indicator originally posted here, i.e. the 13 min average of CII. Gives very nice signals.
Hi Medici,
How should we interpret the golden line for entries/exits? should we use on the chart or on the cii.?

doc.
  • #2,889
  • Sep 9, 2010 4:34pm Sep 9, 2010 4:34pm
Quoting Dr.Scalpall
Hi Medici,
How should we interpret the golden line for entries/exits? should we use on the chart or on the cii.?

doc.
Not sure I understand your question, or I may have been slightly confusing as I have a golden EMA on the chart.

The indi you see was obtained simply by setting the colours of items 1 (CI) and 3 (33 period SMA) equal to the background colour. Then the remaining line, which I changed the colour of to crimson, would be interpreted just like CI, i.e. connecting highs or lows to establish the occurrence of divergence. See the two examples posted above.

Hope that answered the question.
  • #2,890
  • Sep 9, 2010 5:06pm Sep 9, 2010 5:06pm
Quoting medici
Not sure I understand your question, or I may have been slightly confusing as I have a golden EMA on the chart.

The indi you see was obtained simply by setting the colours of items 1 (CI) and 3 (33 period SMA) equal to the background colour. Then the remaining line, which I changed the colour of to crimson, would be interpreted just like CI, i.e. connecting highs or lows to establish the occurrence of divergence. See the two examples posted above.

Hope that answered the question.

aahh, all becomes clear. one other thing, on the spx chart post (2887) you used it finance charts. I have it-charts aswell but never use it, is it possible to set up cii on that package, if so how?

many thanks in advance

doc.
  • #2,891
  • Sep 9, 2010 11:15pm Sep 9, 2010 11:15pm
Quoting Dr.Scalpall
aahh, all becomes clear. one other thing, on the spx chart post (2887) you used it finance charts. I have it-charts aswell but never use it, is it possible to set up cii on that package, if so how?

many thanks in advance

doc.
http://www.forexfactory.com/showpost...postcount=1987
  • #2,892
  • Sep 10, 2010 4:43am Sep 10, 2010 4:43am
Good morning, folks. Another day in pip paradise

Here are this morning's M1 entries based on CI MA13 + PA. The four entries in the consolidation channel perhaps requiring some M1 PA reading skills...
Attached Image (click to enlarge)
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  • #2,893
  • Sep 11, 2010 10:10am Sep 11, 2010 10:10am
Quoting medici
Good morning, folks. Another day in pip paradise

Here are this morning's M1 entries based on CI MA13 + PA. The four entries in the consolidation channel perhaps requiring some M1 PA reading skills...
Thanks for all your hard work medici, following avidly here.

I soooo take my hat off to you M1 traders.
  • #2,894
  • Sep 12, 2010 10:46am Sep 12, 2010 10:46am
Quoting jag1966
Thanks for all your hard work medici, following avidly here.

I soooo take my hat off to you M1 traders.
Thanks, and, as always, you are welcome. I find M1 better in the mornings but have my doubts about the NY session, except around news time.

But

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Classic scene from classic film...
  • #2,895
  • Sep 13, 2010 1:57am Sep 13, 2010 1:57am
Morning Med

Really struggling today, I was looking at the GBP chart this morning, and on 1 hour, 15 min and 5 min time frames I thought I saw bearish divergence.

I must be doing something wrong as the market has just kept going up and up.

Would appreciate if you could give me an analysis from this morning.

Thanks
furble
  • #2,896
  • Sep 13, 2010 2:09am Sep 13, 2010 2:09am
Hi furbie, hope this helps.
Attached Image(s) (click to enlarge)
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  • #2,897
  • Sep 13, 2010 2:48am Sep 13, 2010 2:48am
Thanks Med

When you show the lines, it seems as clear as day, but when I'm doing this, I've been very inconsistant.

This is what I saw on the 5 min, is this bearish or did I read it wrong?

It's probably just me, but to me it seems when I draw a line on the lows it seems to work better for me then when I use the highs.

Thanks
furble
Attached Image
  • #2,898
  • Sep 13, 2010 3:12am Sep 13, 2010 3:12am
Quoting furble
Thanks Med

When you show the lines, it seems as clear as day, but when I'm doing this, I've been very inconsistant.

This is what I saw on the 5 min, is this bearish or did I read it wrong?

It's probably just me, but to me it seems when I draw a line on the lows it seems to work better for me then when I use the highs.

Thanks
furble
Yes, that is certainly bearish divergence, BUT it's counter-trend in a strong trend and the first divergence occurring, so I wouldn't expect much more than 10 pips from that.

As to my charts, it's a matter of being alert around 7am, when things often get going. See beginning of thread.
  • #2,899
  • Sep 13, 2010 3:25am Sep 13, 2010 3:25am
ahh makes sense, thanks.

Do you just look at the 5 min, 15 min to determine current trend?

i.e. if I looked at the daily, trend was down, hourly, trend was pretty flat, but 15 min and 5 min, trend was up.

thx
furble
  • #2,900
  • Sep 13, 2010 3:50am Sep 13, 2010 3:50am
Quoting furble
ahh makes sense, thanks.

Do you just look at the 5 min, 15 min to determine current trend?

i.e. if I looked at the daily, trend was down, hourly, trend was pretty flat, but 15 min and 5 min, trend was up.

thx
furble
I look at all the TFs first thing in the morning to assess situation and possible opportunities for larger swings. But then all trading decisions are based on M1-15.

I also look at EURGBP in the morning to weigh £ and € against each other. This morning, for example, the conclusion was £ from the long side and € from the short side.

For example, attached, is a 1min trade that added about 20 pips to the account.
Attached Image (click to enlarge)
Click to Enlarge Name: euro m1 13 sept.gif Size: 25 KB
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