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123 Method by lgtj

  • #41
  • Sep 28, 2010 1:49am Sep 28, 2010 1:49am
Quoting Kasapreko
Hey! good morning everyone. Hasnt anyone on this thread woken up?
I just placed my buy stop on gbpusd 1.5997... Igtj I can see a similar setting on on nsdusd that even looks better than the gbpusd pair,but Im not taking it as it isnt listed amongst pairs you trade
Hi Kasapreko,

I saw the same set up as u, but i may enter earlier if buy mode appeared from now on.
Please comment if any, from Igtj or anyone.

Sam
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  • #42
  • Sep 28, 2010 1:55am Sep 28, 2010 1:55am
Hi lgtj,

nice simple system, I will try it on my live account.

One question: How do you draw your fibs? If you use an indicator, would you mind posting it?

The MTF verison posted before does not show the price levels...

Thanx.
  • #43
  • Sep 28, 2010 2:02am Sep 28, 2010 2:02am
Quoting sam2vt
Hi Kasapreko,

I saw the same set up as u, but i may enter earlier if buy mode appeared from now on.
Please comment if any, from Igtj or anyone.

Sam
Hey Sam,
what reason should make you enter earlier when price hasnt breached the high swing on the weekly chart
and again,whats up with the 5m chart at the right end corner of your chart? is there anything youre amplyfing
ciao!
  • #44
  • Sep 28, 2010 2:18am Sep 28, 2010 2:18am
Hi Igtj,

UJ from weekly sell setup is forming according to this thread? When 82.871 touch should go for sell? (with D1 and H4 sell mode both confirm).
Looking forward for your advised.
Sam
Attached Image (click to enlarge)
Click to Enlarge Name: ujw1_sellsetup.gif Size: 13 KB
  • #45
  • Sep 28, 2010 2:36am Sep 28, 2010 2:36am
Quoting sam2vt
Hi Igtj,

UJ from weekly sell setup is forming according to this thread? When 82.871 touch should go for sell? (with D1 and H4 sell mode both confirm).
Looking forward for your advised.
Sam
Hey Sam,
I dont see any 123 formation on the daily chart for you to enter on the 4hr,so I dont think thats a valid signal according to igtj
  • #46
  • Sep 28, 2010 2:59am Sep 28, 2010 2:59am
Dear lgtj, thank you for method. I have just MACD Histogramm, so in my case MACD in buy mode means when the first histogramm crossed zero line? Thank you,
  • #47
  • Sep 28, 2010 3:37am Sep 28, 2010 3:37am
Quoting Kasapreko
I can see the gbpusd trade forming,but I prefer your first form of entry,but in your system rules you wrote for price to retrace to the 50% fib level..whats up with you not following that rule
ciao!
Read post #33.
  • #48
  • Sep 28, 2010 3:40am Sep 28, 2010 3:40am
Quoting Kasapreko
Hey! good morning everyone. Hasnt anyone on this thread woken up?
I just placed my buy stop on gbpusd 1.5997... Igtj I can see a similar setting on on nsdusd that even looks better than the gbpusd pair,but Im not taking it as it isnt listed amongst pairs you trade
That's fine, but I like to wait for price to get a little closer to point #2 before I place my order. You can also try nzdusd, I just don't trade that pair.
  • #49
  • Sep 28, 2010 3:46am Sep 28, 2010 3:46am
Quoting sam2vt
Hi Kasapreko,

I saw the same set up as u, but i may enter earlier if buy mode appeared from now on.
Please comment if any, from Igtj or anyone.

Sam
Hello sam2vt and welcome. I wouldn't place a buy order on gbpusd 4H chart yet because price is retracing, and the macd is in sell mode. Although we're in a strong buy mode on the weekly and daily, I would wait for the 4H to get back into buy mode before entering the market.
  • #50
  • Edited 4:25am Sep 28, 2010 3:54am | Edited 4:25am
Quoting Olarion1975
Hi lgtj,

nice simple system, I will try it on my live account.

One question: How do you draw your fibs? If you use an indicator, would you mind posting it?

The MTF verison posted before does not show the price levels...

Thanx.
Hello Olarion1975 and welcome. I don't use a fib indicator. I use the fib tool on my mt4 platform. Open up your fib tool properties and press the levels tab. Then change the levels to these:
Level - Description
0 - 0.0 @ %$
.5 - 50.0 @ %$
1 - 100.0 @ %$
-.5 - BE @ %$
-1 - TP @ %$
  • #51
  • Sep 28, 2010 3:56am Sep 28, 2010 3:56am
Quoting Kasapreko
Hey Sam,
what reason should make you enter earlier when price hasnt breached the high swing on the weekly chart
and again,whats up with the 5m chart at the right end corner of your chart? is there anything youre amplyfing
ciao!
Correction, price should breach the high on the daily chart.
  • #52
  • Sep 28, 2010 4:05am Sep 28, 2010 4:05am
Quoting lgtj
Correction, price should breach the high on the daily chart.
using your second entry method according to your pdf file,I dont see the need to go down to the daily chart cause if price breaches the swing high on weekly ,the daily MACD must follow it,and its still the same swing low on weekly chart that you place your stop loss.
Its seems to me that you just need the daily chart for the first and third form of entry
  • #53
  • Sep 28, 2010 4:19am Sep 28, 2010 4:19am
Quoting sam2vt
Hi Igtj,

UJ from weekly sell setup is forming according to this thread? When 82.871 touch should go for sell? (with D1 and H4 sell mode both confirm).
Looking forward for your advised.
Sam
Look at these charts of usdjpy. Although the weekly chart macd is in sell mode, price is retracing, which means that the down trend is getting weak. Although the macd went back into sell mode on the daily chart, I would not look to enter the market yet. Why? Because the 21sma is flat, and the macd is showing bullish divergence. There could be a change in the trend soon. So, I'll be on the sideline with this pair.
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  • #54
  • Sep 28, 2010 4:20am Sep 28, 2010 4:20am
Quoting Kasapreko
Hey Sam,
I dont see any 123 formation on the daily chart for you to enter on the 4hr,so I dont think thats a valid signal according to igtj
Correct
  • #55
  • Sep 28, 2010 4:21am Sep 28, 2010 4:21am
Quoting lite27
Dear lgtj, thank you for method. I have just MACD Histogramm, so in my case MACD in buy mode means when the first histogramm crossed zero line? Thank you,
Hello lite27 and welcome. Yes, that's correct.
  • #56
  • Sep 28, 2010 4:44am Sep 28, 2010 4:44am
There's a set up happening now on gbpjpy daily. I'm in at 133.712. Let's see what happens. The monthly and weekly charts confirm the daily.
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  • #57
  • Sep 28, 2010 5:27am Sep 28, 2010 5:27am
Quoting lgtj
There's a set up happening now on gbpjpy daily. I'm in at 133.712. Let's see what happens. The monthly and weekly charts confirm the daily.
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do you also use trendlines on your higher time frames,cause Im seeing something like that?
  • #58
  • Sep 28, 2010 5:39am Sep 28, 2010 5:39am
Quoting Kasapreko
do you also use trendlines on your higher time frames,cause Im seeing something like that?
Yes!
  • #59
  • Sep 28, 2010 5:42am Sep 28, 2010 5:42am
Quoting lgtj
Look at these charts of usdjpy. Although the weekly chart macd is in sell mode, price is retracing, which means that the down trend is getting weak. Although the macd went back into sell mode on the daily chart, I would not look to enter the market yet. Why? Because the 21sma is flat, and the macd is showing bullish divergence. There could be a change in the trend soon. So, I'll be on the sideline with this pair.
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Hi Igtj, Kasapreko,

I just wanted to confirm from the UJ weekly chart is it showing sell mode setting up? I'm too not find any signal from D1 and H4 yet for entry. However, from your reply I learn more. Am just a newbie here, therefore, I might post some silly questions. Please forgive and thanks for your reply. Its great lesson for me. Please keep the good work.
Nice piping.
  • #60
  • Sep 28, 2010 5:47am Sep 28, 2010 5:47am
Quoting sam2vt
Hi Igtj, Kasapreko,

I just wanted to confirm from the UJ weekly chart is it showing sell mode setting up? I'm too not find any signal from D1 and H4 yet for entry. However, from your reply I learn more. Am just a newbie here, therefore, I might post some silly questions. Please forgive and thanks for your reply. Its great lesson for me. Please keep the good work.
Nice piping.
No, it's not. The weekly chart is already in sell mode, but price action is getting weak. There isn't a valid signal on the daily and 4H yet. I was once a newbie also, but I've learned a lot on this forum. I'll be glad to help you along the way.
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