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Trading "The Constrictor"

  • #241
  • Sep 17, 2010 7:50am Sep 17, 2010 7:50am
Quoting cprao
Set to BE.
Nice C. I closed manually this morning at a little over .9R after some rejection at 1.5700. I has a TP set overnight up around 1.5800. I'm going to be away from the charts all day so I figured I would go ahead and take what the market gave. I wouldn't be surprised to see some profit-taking drive price lower or see the bulls push it further.

Have a good w/e all.
  • #242
  • Sep 17, 2010 8:54am Sep 17, 2010 8:54am
Quoting Donkey
Nice C. I closed manually this morning at a little over .9R after some rejection at 1.5700. I has a TP set overnight up around 1.5800. I'm going to be away from the charts all day so I figured I would go ahead and take what the market gave. I wouldn't be surprised to see some profit-taking drive price lower or see the bulls push it further.

Have a good w/e all.
I would have been booked half of profit, if I traded this as a J16 trade. Since this is a trend following method, I thought I should not cash out the trade soon but at the same time, I don't like to make any loss.
So just moved my stop to BE.. now just watching.. it looks like it is going be stopped out any time.

Anyway, my first trade(Demo) with this CZ system.. Thank you Ghous..
  • #243
  • Sep 17, 2010 8:58am Sep 17, 2010 8:58am
Quoting ghous
Turns out only 1 of the 2 full bars losses that I had on the 2 euro crosses were actually genuine losses.

Did a video on my findings and learning experience. (720p)

http://www.youtube.com/watch?v=s1hzcvXygz0

g.
Yeah!! great exaplantion about threatning pull back and non-threatning pull back.

For any method, there would be some loosers. But it is very important to understand whether it is a genuine looser or not. In this video you have clearly showed that differrence.

It helps all the learners of this method.
  • #244
  • Sep 17, 2010 9:26pm Sep 17, 2010 9:26pm
I'll be watching Euro next week. A pullback to 21 at 1.300 with PA would be outstanding.

Cheers.
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Attached Image
  • #245
  • Sep 20, 2010 8:27am Sep 20, 2010 8:27am
Quoting cprao
I would have been booked half of profit, if I traded this as a J16 trade. Since this is a trend following method, I thought I should not cash out the trade soon but at the same time, I don't like to make any loss.
So just moved my stop to BE.. now just watching.. it looks like it is going be stopped out any time.

Anyway, my first trade(Demo) with this CZ system.. Thank you Ghous..
I am stopped out at BE on GU.
  • #246
  • Sep 21, 2010 11:18pm Sep 21, 2010 11:18pm
1. Uptrend
2. Price pulled back to EMA21 and a BUOB
3. Close of BUOB is ok though not extremely strong
Cons:
1. Looks like it is going to range between 80.50 and 81.50.
2. The trigger buob is not closed above the previous Bullish bar

Thoughts ?
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  • #247
  • Sep 22, 2010 12:26am Sep 22, 2010 12:26am
Quoting cprao
1. Uptrend
2. Price pulled back to EMA21 and a BUOB
3. Close of BUOB is ok though not extremely strong
Cons:
1. Looks like it is going to range between 80.50 and 81.50.
2. The trigger buob is not closed above the previous Bullish bar

Thoughts ?
The cons you highlighted would also be my main worries with the setup. A strong close on the BUOB above the ascending triangle would have given it a much better look.

I haven't been trading all that much these days but sure was impressed with some of the cherries that went by these few weeks.

g.
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I believe . . .
  • #248
  • Sep 22, 2010 12:29am Sep 22, 2010 12:29am
talking about cherries...these 2 made me smile.

g.
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I believe . . .
  • #249
  • Sep 22, 2010 8:51am Sep 22, 2010 8:51am
Quoting ghous
talking about cherries...these 2 made me smile.

g.
I don't know what is the 2nd chart.. It ran to moon.
  • #250
  • Sep 22, 2010 12:45pm Sep 22, 2010 12:45pm
Quoting cprao
I don't know what is the 2nd chart.. It ran to moon.
Nasdaq futures
I believe . . .
  • #251
  • Sep 23, 2010 8:38am Sep 23, 2010 8:38am
Never triggerred the trade. Hence the position is cancelled.
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  • #252
  • Sep 24, 2010 7:46am Sep 24, 2010 7:46am
Is this ET3 trade ?

IBFX, H4, EURGBP

Trend is up. BUOB on EMA21 breaking 4 bar consolidation.. Barely touched EMA21. Above 8500.
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  • #253
  • Sep 24, 2010 9:08am Sep 24, 2010 9:08am
Quoting cprao
Is this ET3 trade ?

IBFX, H4, EURGBP

Trend is up. BUOB on EMA21 breaking 4 bar consolidation.. Barely touched EMA21. Above 8500.
The more time I spend with the system the more it divulges itself for me. It is an amazing journey thus far and quite frankly it is the first time I have had to find my own answers to my own questions as I gain experience with the system. I have had the privilege to be spoon fed when it comes to the HOW of trading (thnx to the j16 group) and all that is actually making this new variant of trading knowledge an interesting venture.

I now know that you can't just buy/sell into a top/bottom without making a note of the area price has bounced off of. This is kinda basic and something I should have been working on right from the start but I have been hoodwinked into basing my trades entirely on the constriction element, size of the bar and trend gradient. The factors of "space" and location in terms of PPZ came a little later and now I know the recent swing high/low that one would trade right into, has a lot of significance as well (in a way that would be like scrutinizing the space factor a bit more). It is important that you pass on the trade if the entire pull back came off a BRN and/or PPZ or at least you have to manage your trade a bit more conservatively than recommended if you go for such a trade at all.

On the Eur/Gbp setup, although the pull back didn't come off of a BRN but when I draw the PPZ (8540) that led to the pull back I have a very clear "to the pip" bounce showing off that PPZ on the daily. Immediately I know I have to be weary of the price level.

Going down to the 4H your BUB failed to close above the PPZ and look what price is doing as I type. It's bouncing right off that PPZ!

At first I thought I was going to enjoy ample trades with the system, but I am beginning to see the real deal here - the essence of which is in being extremely picky. Not the first time we've heard that phrase though, have we?

g.
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I believe . . .
  • #254
  • Sep 24, 2010 11:06am Sep 24, 2010 11:06am
Good call Ghous.

Also, on the Daily EURGPB, there was a 2 day pin bar, off the .8500 level and MACD divergence.

I actually had a short order on this pair on the break of the 2 day pin bar, but with Friday's low volume day, I pulled the order at about 10 AM EST.
  • #255
  • Sep 24, 2010 8:23pm Sep 24, 2010 8:23pm
Hi Guys,
Can I call this ET1?Is it right set up for this method?
-It is CT
-Entry after big BEOB which closed below RN and below suport
-momentum down (big three bearish prior bars,red colour)
-find resistance @Ema 50
-Tighter Emas,we got spring.

Or should I enter @ break IB?What about that prior bullish bar with wick (bounced from support).
Any comments guys?
Have a nice weekend.
FX
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  • #256
  • Sep 24, 2010 9:27pm Sep 24, 2010 9:27pm
Quoting Fxfighter
Hi Guys,
Can I call this ET1?Is it right set up for this method?
-It is CT
-Entry after big BEOB which closed below RN and below suport
-momentum down (big three bearish prior bars,red colour)
-find resistance @Ema 50
-Tighter Emas,we got spring.

Or should I enter @ break IB?What about that prior bullish bar with wick (bounced from support).
Any comments guys?
Have a nice weekend.
FX
1. I don't think this can be considered as ET1. For ET1, the price has to spend some time in CZ. In this case, it did not.
It may be considered as ET2 now, if the price moves back to south by establishing a good trigger bar.. (subject to the space and PPZ).
2. To justify counter trend, price has to flip the direction from a major S/R line.
Did this happen in this case ? I would think yes, since 9600-9630 seems like acted as a PPZ.
3. The price seems to be moving into a consolidation zone on the left side and the next ppz looks like 9300. In fact the price reveresed right to the pip.

Anways these are my views.. lets see what Ghous says..
  • #257
  • Sep 25, 2010 4:22am Sep 25, 2010 4:22am
Quoting cprao
1. I don't think this can be considered as ET1. For ET1, the price has to spend some time in CZ. In this case, it did not.
It may be considered as ET2 now, if the price moves back to south by establishing a good trigger bar.. (subject to the space and PPZ).
2. To justify counter trend, price has to flip the direction from a major S/R line....
Hi Cprao,
Thanks for replay and yes I knew price didn't some time in CZ,that why I asked if I can call ET1 .
So if you are lookin on chart when price made IB u will entry on braek him or still wait and enter on break BEOB?
In my wiev if I see that reaction prior bullish bar with rejection from support that it makes me worried but on other side I have great R:R so with very small stop is good to try it.
  • #258
  • Sep 25, 2010 9:12am Sep 25, 2010 9:12am
Spotted this ET2 trigger bar, but I haven't decided whether or not to trade it.

What I noticed:

The FTA is near either the confluence of the 1.33 RN and 50 Fib or the confluence of the 1.35 VBRN and the 61 Fib.
On the weekly chart, there is a very strong downtrend with additional confluence at the FTA with the weekly 21 EMA.

http://content.screencast.com/users/...4/00000015.png

http://content.screencast.com/users/...6/00000016.png
"Dare to live the life you have dreamed for yourself. Go forward and make y
  • #259
  • Sep 25, 2010 10:16am Sep 25, 2010 10:16am
Has a big bull bar on Daily from 112.50 (PPZ).
Supported by weekly bull bars from the last two weeks.

1)On h4, when the price direction is changed, A first cross through EMA's on 09/14.
2) Price retraced and another pin bar on 09/21.. but this pin is small and also running into ppz
3) This friday another bull bar from the support (112.50) crossing EMA21.

Would this be considered as a ET2?
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  • #260
  • Sep 25, 2010 10:33am Sep 25, 2010 10:33am
Quoting shephrd
Spotted this ET2 trigger bar, but I haven't decided whether or not to trade it.

What I noticed:

The FTA is near either the confluence of the 1.33 RN and 50 Fib or the confluence of the 1.35 VBRN and the 61 Fib.
On the weekly chart, there is a very strong downtrend with additional confluence at the FTA with the weekly 21 EMA.

http://content.screencast.com/users/...4/00000015.png

http://content.screencast.com/users/...6/00000016.png...
I was watching this pair for the last few days for this ET2. Strong BUOB on daily looks good. The close is great.. No wic at all. The immediate FTA is 1.3390-1.3400 (previous bar spike high).

Generally BUOB's/BEOB's tend to retrace to previous high/low or confluence areas before resuming the direction. In this case, 3260-3250 seems to be the retrace point.. I will look for (if I am available) another PA on lower TF's.

Ghous, your thoughts on this ET2 ?
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