Islander and Medici trade the European open | Page 146 | Forex Factory

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Islander and Medici trade the European open

  • #2,901
  • Sep 13, 2010 6:21am Sep 13, 2010 6:21am
Ok so far i only got a trade on gu set up very nice.
Ok frankfurt wasnt hidden divergence so i waited for london and low and behold(lol) divergence setup for me mwuahahah
Just by the way, medici for intrest sake, did you take the up move on gu at end of franky hour and start of london hour, because i see on 5min it setup hidden divergence.
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  • #2,902
  • Edited 2:48pm Sep 13, 2010 1:52pm | Edited 2:48pm
Quoting CoffeeDrinke
Ok so far i only got a trade on gu set up very nice.
Ok frankfurt wasnt hidden divergence so i waited for london and low and behold(lol) divergence setup for me mwuahahah
Just by the way, medici for intrest sake, did you take the up move on gu at end of franky hour and start of london hour, because i see on 5min it setup hidden divergence.
Well done again The M15 divergence is proving to be a reliable companion...

No, didn't take that trade for two reasons: (1) didn't look good R:R wise (but I might have been more aggressive another day), and (2) I was looking for short opportunities in the Euro hoping for a quick journey to 2765 (didn't happen...).
  • #2,903
  • Sep 13, 2010 2:09pm Sep 13, 2010 2:09pm
O well you prob atleast didnt get out of tht trade with a loss if you took the trade after 'spike' of frankfurt you would of atleast been able to take some profit, yeah my rules kept me out of eu, must agree sometimes very conservative, but lol i have 20days a month to trade
I got another short on gu didnt work out great, but was expecting i move to round number and chop or reverse so i took most profit there, prob not suppose to trade like tht but you know my gut told me to lol.
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  • #2,904
  • Sep 13, 2010 3:56pm Sep 13, 2010 3:56pm
Quoting medici
Hi furbie, hope this helps.
Hi medici, This is my first time posting here, One question, Do you have different settings for CII2 5m and CII 1m charts ?
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #2,905
  • Sep 13, 2010 3:58pm Sep 13, 2010 3:58pm
Quoting samdani786
Hi medici, This is my first time posting here, One question, Do you have different settings for CII2 5m and CII 1m charts ?
Hello samdani786, and welcome to the thread!

Yes, different settings. Standard for M5 but for M1 it's a 9-13 SMA of standard CII (the golden line)...still work in progress.
  • #2,906
  • Sep 13, 2010 4:08pm Sep 13, 2010 4:08pm
hi medici, after you get the divergence what do you use as the entry setup?
thanks
  • #2,907
  • Sep 13, 2010 4:42pm Sep 13, 2010 4:42pm
Quoting rogerdoger
hi medici, after you get the divergence what do you use as the entry setup?
thanks
Hi rogerdoger, I hope you don't expect a brief, exhaustive and detailed answer to that question The brief and exhaustive answer would be that I apply years of screen-time following these markets bar by bar most days/mornings...which has resulted in a number of setups/triggers of different kinds.
  • #2,908
  • Sep 13, 2010 5:37pm Sep 13, 2010 5:37pm
Quoting medici
Hi rogerdoger, I hope you don't expect a brief, exhaustive and detailed answer to that question The brief and exhaustive answer would be that I apply years of screen-time following these markets bar by bar most days/mornings...which has resulted in a number of setups/triggers of different kinds.
would you mind sharing one of your most prevalent setups? it's amazing how you are able to get in right at the area after divergence is signaled (rather than waiting for it to confirm in the traditional way,etc)
  • #2,909
  • Edited 6:56am Sep 14, 2010 12:48am | Edited 6:56am
Quoting rogerdoger
would you mind sharing one of your most prevalent setups? it's amazing how you are able to get in right at the area after divergence is signaled (rather than waiting for it to confirm in the traditional way,etc)

To help a little....If you read back thru' my posts you find that looking for hammers / shooting stars, dojis, tweezers and marubozos / harami's is worthwhile on both 1m and 5m charts.

As stated many times, when these happen at a level, you watch the PA and its not difficult to decide what you like to use for your trigger, which might include the break of the first candle of a different colour, break of the 1 min 30 ema etc - its what you feel happy with.

Good luck
Trading Levels with WRBs
  • #2,910
  • Sep 14, 2010 4:38am Sep 14, 2010 4:38am
Quoting Islander
To help a little....If you read back thru' my posts you find that looking for hammers / shooting stars, dojis, tweezers and marubozos / harami's is worthwhile on both 1m and 5m charts.

As stated many times, when these happen at a level, you watch the PA and its not difficult to decide what you like to use for your trigger, which ight include the break of the firstcandle of a different colour, break of the 1 min 30 ema etc - its what you feel happy with.

Good luck
Hello Sir,
i start following you since these summer and i have a lot of respect for your work and yourself as you offer us your time and your experience.
I have try to put on my charts your 30ema and 240ema on both eurusd & gpbusd 5minTF but i don't succeed to find support on the EMA as you have already explain in some previous posts. I am wrong somewhere, or the market conditions have change, or something else ?

Best Regards
  • #2,911
  • Edited 5:26am Sep 14, 2010 5:13am | Edited 5:26am
Quoting rogerdoger
would you mind sharing one of your most prevalent setups? it's amazing how you are able to get in right at the area after divergence is signaled (rather than waiting for it to confirm in the traditional way,etc)
As you have noted, waiting for confirmation isn't my thing. In addition to the setups mentioned by Islander, such entries are mostly based on S/R or fib levels, M1 PA around levels, various chart patterns, and so on. If you haven't read the beginning of the thread, some setups are mentioned there, and there should be plenty of examples throughout the thread.

Hope that helps
  • #2,912
  • Sep 14, 2010 7:05am Sep 14, 2010 7:05am
Quoting mmisters
Hello Sir,
i start following you since these summer and i have a lot of respect for your work and yourself as you offer us your time and your experience.
I have try to put on my charts your 30ema and 240ema on both eurusd & gpbusd 5minTF but i don't succeed to find support on the EMA as you have already explain in some previous posts. I am wrong somewhere, or the market conditions have change, or something else ?

Best Regards
The EMAs - 30 on 1 min and 5 min charts are specifically to help trading with the short term trend, adding on pull backs towards them AND creating your own set of trading rules.

When I say that a 30 EMA is supporting a trend, I mean that price pulls back towards it and then moves away, continuing its move. At its simplest, you can work out a system to buy and sell the price action / crosses of one of the EMAs.......

However, more advanced trading uses "the levels" that we so frequently discuss and the EMAs act as a filter and trending tool.
Trading Levels with WRBs
  • #2,913
  • Edited 8:15am Sep 14, 2010 7:59am | Edited 8:15am
Quoting mmisters
Hello Sir,
i start following you since these summer and i have a lot of respect for your work and yourself as you offer us your time and your experience.
I have try to put on my charts your 30ema and 240ema on both eurusd & gpbusd 5minTF but i don't succeed to find support on the EMA as you have already explain in some previous posts. I am wrong somewhere, or the market conditions have change, or something else ?

Best Regards
Hi mmisters, I might add in if I may. I think there is a post by vantage or islander somewhere in the forum abt how many hrs they have put in before they became comfortable with their setup. It was very close to 10,000hrs from memory. Islander has very often said his trades are based on pa around levels (and he added in the time factor as well later on). Just putting on a ma on the chart is not really going to add value at all. I think the ma's add value only be allowing you to see the immediate direction of price, and giving you some sort of 'spacial' awareness, so to speak.

Even medici trades only at specific levels, albeit he seems to able to get amazing entries.

At the end of the day, it all comes down to levels, pivots, fibs, round numbers, mml, whatever you are comfortable with and whatever makes sense to you. But it always comes down to levels.

Utilise one of the best things MT4 is good for, the F12 button on a chart. It moves the chart forward bar by bar allowing you to analyze the chart, in effect doing a back test moving forward

Hope this helps.

Regards,
K/
  • #2,914
  • Sep 14, 2010 6:32pm Sep 14, 2010 6:32pm
Quoting medici
A bit choppy out there, so I thought I should share some info about the Composite Index. It was developed by Constance Brown, former trader and fund manager, now retired.

I learned about it in a Bloomberg publication called Breakthroughs in Technical Analysis - New Thinking from the World's Top Minds (some title ...).

Listen to these words of hers (about RSI): "The indicator is prone to fail to develop divergence to the price data at key market reversals. The cause of this failure is in the normalization of the indicator formula. A solution...
Bob ,
Please find Medici reference to C11 index.
Best Regards Georgec.
  • #2,915
  • Sep 15, 2010 2:55am Sep 15, 2010 2:55am
Great thread guys and keep the info coming. It's also nice to see one minute charts being used.

Used the cii for the first time tonight on a 12 pip ej scalp. I based this trade off of several things which is probably the best way.

1) Bounce off of 110 which I guessed would be good at least until 110.25 or so.
2) Divergence on the cii, not the 13 sma or gold line.
3) One of vantages 2b's.
4) And it was right at the 150 ema.
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  • #2,916
  • Sep 15, 2010 4:51am Sep 15, 2010 4:51am
Quoting 3dragz
Great thread guys and keep the info coming. It's also nice to see one minute charts being used.

Used the cii for the first time tonight on a 12 pip ej scalp. I based this trade off of several things which is probably the best way.

1) Bounce off of 110 which I guessed would be good at least until 110.25 or so.
2) Divergence on the cii, not the 13 sma or gold line.
3) One of vantages 2b's.
4) And it was right at the 150 ema.

Welcome to the thread! And well done, even though I would stay away from shorting/trading the yen pairs following the BoJ intervention.

And, yes, M1 is a main focus area. Which brings me to today's action in cable. Two nice bearish M15 divergences from the 5525 (early Asian low) to 5533 (8 Sept high) area. With your favourite entry technique, preferrably on a shorter time-frame, they were worth about 75 and 50 pips respectively.
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  • #2,917
  • Sep 15, 2010 6:10am Sep 15, 2010 6:10am
Medic, off topic. which curency pair (if any) do you think has corelation with the FTSE 100..

R
  • #2,918
  • Sep 15, 2010 6:15am Sep 15, 2010 6:15am
Quoting rebelheart
Medic, off topic. which curency pair (if any) do you think has corelation with the FTSE 100..

R
No problem. The honest answer is that I don't know as I don't follow that - my trading works just as well without it. SPX correlation during NY session is another matter and then the answer is AUDUSD and even more so AUDJPY.
  • #2,919
  • Sep 15, 2010 8:14am Sep 15, 2010 8:14am
Quoting Islander
The EMAs - 30 on 1 min and 5 min charts are specifically to help trading with the short term trend, adding on pull backs towards them AND creating your own set of trading rules....
Hello, and thank to answer.

I totally agree that "levels" are primary and EMA secondary and more a filter and/or support. I was just surprising to not see so cleary on my charts the support effect as you show us on your chart, may be a bad day when i try to look at EMA 30

I continue to learn and concentrate on the levels, thanks again
  • #2,920
  • Sep 15, 2010 8:18am Sep 15, 2010 8:18am
Quoting kermut
Hi mmisters, I might add in if I may. I think there is a post by vantage or islander somewhere in the forum abt how many hrs they have put in before they became comfortable with their setup. It was very close to 10,000hrs from memory. Islander has very often said his trades are based on pa around levels (and he added in the time factor as well later on). Just putting on a ma on the chart is not really going to add value at all. I think the ma's add value only be allowing you to see the immediate direction of price, and giving you some sort of 'spacial'...
hello and thank for your info, yes it help me

i agree on the secondary character of the EMA and the importance of the level, if someone could post again a summary about levels it could be great

Regards
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