Trading "The Constrictor" | Page 15 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Broker Challenge "NDD/STP" vs. True "ECN" and "Mkt Mkr" broker talk 46 replies

Dealing with "Invalid Price", "Requote", "Server Busy" in MT4 3 replies

It’s our job to trade "Futures" not "Histories", by Joe Ross 7 replies

"Bagovino Method" VS "Cornflower Hourly System" 16 replies

Why "forex" and not "futures" ? 1 reply

Attachments: Trading "The Constrictor"
Exit Attachments

Trading "The Constrictor"

  • #281
  • Oct 1, 2010 7:46am Oct 1, 2010 7:46am
Quoting Fxfighter
Hi Guys,
I didn't take this one as MM and RM wasn't good for me,but maybe for scalping with good spread and with apply very tight Trading Man.on lower TF will be ok.
Nice BEOB but closed abowe priors lows and very close to my monthly PPz and RN so didn't take it..

FX
Once again you impress me with your good understanding of round numbers and side to side support and resistance.

g.
I believe . . .
  • #282
  • Oct 1, 2010 7:47am Oct 1, 2010 7:47am
Quoting cprao
I would think this is a dicey trade since the close of the BEOB is not below the low of previous couple bars. It did react before it was going in the expected direction. Then the PPZ is very close by.. It could be a pass.
I am thrilled!

g.
I believe . . .
  • #283
  • Oct 1, 2010 7:50am Oct 1, 2010 7:50am
Ok apologies for not being too active here...it's been an extremely busy week for me.

I did take a trade (next post) but again had no time to put it up here.

Oh and just so ya'll know...I've moved to trading the dailies and weeklies with this system from here on, as I get very little time out from studies and the other system I am already working with on the intra day level.

cheers.

g.
I believe . . .
  • #284
  • Oct 1, 2010 7:55am Oct 1, 2010 7:55am
Quoting ghous
Nice!

Watch out for that bar high. The constriction isn't too great and that makes me feel we may not be completely ready for a ride to the moon first thing Monday morning.

This should be interesting.

g.
Here's an update to the setup.

Price (as expected) doesn't shoot off straight away, and rather decides to pull back to the CZ. (I entered when we had a daily bar close just above the CZ - showing that price was still hesitant to make it's way down) next morning we spike into the CZ and pull back straight away above the CZ and take off.

That bar high I pointed out in the earlier chart was sticking out like a sore thumb, I took full profit there, but given that we have a proper constriction now it won't surprise me one bit to see price take off from here (maybe after a quick pull back to the bar high we expected to hold as resistance)

g.
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 20 KB
I believe . . .
  • #285
  • Oct 1, 2010 7:59am Oct 1, 2010 7:59am
Quoting ghous
Once again you impress me with your good understanding of round numbers and side to side support and resistance.

g.
Thanks Ghous,
Well I am over year and half J16 thread lurker,that is my home here,so I hope I've learned something from u guys.
Thank you for comment's.I see problem is be patient and just don't make set up nicier but looks how really is.
Thanks everyone just need more practice.
Hm as someone said,now back to the cave.lol

FX
  • #286
  • Oct 1, 2010 9:28pm Oct 1, 2010 9:28pm
Hi Guys,
I 've found potencional trade which I missed,so I would like to know your opinion if even belong here.
A/C Trade
Long @ BUB
Why in:
-hard break strong monthly Ppz(resistance)
-had support @ Ema21
-after nice sideway move with smal bearish bars still contain up momentum

Why not:
-BUB closed below RN wich line up with weeklly PPz

My desicion is jump in and why?
-momentum is king
-accept risk(lose trade)
-abowe my ass I have monthly PPz resistance which could protect me and can react like support(sexi james flip zones)

Trade Man.
1.SL below BUB and TP closed to BRN 1.000000000 lol
2.SL move to do position SL-1 when price hit weekly ppz and tahe hlp profit.
so in this time I am in free ride as I took aprox.30 pips profit and my SL is about 30 pips below entry(below lows)
3. move SL to B/E when another bulish candel closed.
4. SL move to position SL-2 below closed bulish bar as her spike and closed I use as protection my ass.
5.Well I still waiting for pull back so after that another big bulish bar I put on FIb . and try tu figure out how deep could be pull back.Also closely watch size of bearish bars.
6.After another bulish bar i can see that bar close below prior two bar who looks like pretty strong Resist. so thats why bulish bar closed with spike
so I Can:
-take all profit
-move SL below pull back
-dont' move SL
Hm I think in this point I will be thinking how much profit I can have.
I 'll take in this point profit on closed bulish candel as is preatty closed my TP.

Guys I would like to read your comments not just about entry but also about TM as that is more important part.

Thank you in advance.
FX
Attached Image (click to enlarge)
Click to Enlarge Name: 17.gif Size: 34 KB
  • #287
  • Oct 2, 2010 8:38am Oct 2, 2010 8:38am
Another good set up in my wiev which I've missed .
Any commets guys?
FX
Attached Image (click to enlarge)
Click to Enlarge Name: 18.gif Size: 44 KB
  • #288
  • Oct 2, 2010 1:08pm Oct 2, 2010 1:08pm
Quoting Fxfighter
Another good set up in my wiev which I've missed .
Any commets guys?
FX
Looks like a good weekly PB on this pair supporting the downtrend. In fact, two consecutive weekly pins in opposite directions.. none of them closed above 1.62, indicating the power 1.62 PPZ. Overall weekly down trend is also supporting this short trade.
I will be watching the pair to take a position next week.
  • #289
  • Oct 2, 2010 1:42pm Oct 2, 2010 1:42pm
Quoting cprao
Looks like a good weekly PB on this pair supporting the downtrend. In fact, two consecutive weekly pins in opposite directions.. none of them closed above 1.62, indicating the power 1.62 PPZ. Overall weekly down trend is also supporting this short trade.
I will be watching the pair to take a position next week.
Yep not great pin on my feed but saying momentum dow is still very strong.Also perfectly line up with Fib.retr. so yep for me that was sexi set up.
  • #290
  • Oct 3, 2010 5:08am Oct 3, 2010 5:08am
Quoting Fxfighter
Hi Guys,
I 've found potencional trade which I missed,so I would like to know your opinion if even belong here.
A/C Trade
Long @ BUB
Why in:
-hard break strong monthly Ppz(resistance)
-had support @ Ema21
-after nice sideway move with smal bearish bars still contain...
Good stuff.

it helps when you have an obvious and logical TP to target.

g.
I believe . . .
  • #291
  • Oct 3, 2010 5:14am Oct 3, 2010 5:14am
Quoting Fxfighter
Another good set up in my wiev which I've missed .
Any commets guys?
FX
Smells like chopped meat.

Your target areas look legit though, a trade I would never take but 90% of my chart time is spent watching charts for "where price is going" so I'll obviously be on the lookout for 1.6-1.61

g.
I believe . . .
  • #292
  • Last Post: Oct 3, 2010 5:33am Oct 3, 2010 5:33am
Quoting ghous
Smells like chopped meat.

Your target areas look legit though, a trade I would never take but 90% of my chart time is spent watching charts for "where price is going" so I'll obviously be on the lookout for 1.6-1.61

g.
Hi Ghous,
Lol I know what u mean.I'll watching as well.
Thanks for commets.
FX
0 traders viewing now