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515 Eurofighter System

  • #481
  • Nov 9, 2010 8:23am Nov 9, 2010 8:23am
Quoting pres78
Do you still trade this system? Still profitable for 80 pips a day?
Been busy with other projects and my personal life for more than 2 years. Now coming back to refresh everything again
  • #482
  • Nov 9, 2010 9:37am Nov 9, 2010 9:37am
Okay,

Look at the right hand side of the BLACK dashed vertical line. This is where the PA started this week.

From this H4, we see 89sma and PW1.3950 are showing some resistance against the price (see ellipse area). The current candle is about to close in about 30mins. If it close below 89sma / 1.3950, chances to sell this pair is and gaining some good pips are quite good.

Price is well below 89sma/21ema a sign of TC downtrend atm. I could be wrong, but I favour to SELL this pair. My suggestion will be SL @ 1.4000 (9 pips above previous Sup/Res indy). Go for TP 80pips.

Trade @ your own risk. Good luck guys.
Attached Image (click to enlarge)
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  • #483
  • Nov 9, 2010 9:45am Nov 9, 2010 9:45am
Selling @ 1.3918 just now with SL/TP @ 1.4000/1.3830. Let's wait the result.
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  • #484
  • Nov 9, 2010 10:05am Nov 9, 2010 10:05am
Selling another @ 1.3911 using the same SL with the 1st entry but this one for FREE RIDE purpose. Will remove this SL to ZERO RISK once the 1st entry hit TP. Hopefully I am not fall asleep though...
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  • #485
  • Nov 9, 2010 10:13am Nov 9, 2010 10:13am
The two vertical lines were my entries just now. So far so good...
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  • #486
  • Nov 9, 2010 10:57am Nov 9, 2010 10:57am
The reason why I think the trend is gonna be TC downtrend is because of this candle @ H1 (see ellipse).

If I am not mistaken, it is a Shooting Star PA against 50sma, 89sma of H4 and closed just 2pips above PW 1.3950.

The PA (candlestick behavior) is always an important key in any technical analysis.

Even this trade is just a demo, but I still really hope that I am getting the right judgement and a great FREE RIDE from my second entry earlier.

Your comment/suggestion is appreciated.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: chart2.gif Size: 68 KB
  • #487
  • Nov 9, 2010 1:32pm Nov 9, 2010 1:32pm
My 1st trade (entry @ 1.3918) hit the TP (@ 1.3830)...!!!

So now, I modified my 2nd trade's SL (from 1.4000) to it's entry price (@1.3911 = just a few pips above 8ema of H4) for a FREE RIDE...!!!! (zero risk trade).

Now, I'll let the 2nd trade to take care of itself until Friday and will see whether it is survived or not.

Even these two trades are just a demo, but I'm glad I did it right. 88pips worth USD880.00 already in the bag for just 3hrs++ of the 1st trading. Not bad

Cheers...
Attached Image (click to enlarge)
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  • #488
  • Nov 9, 2010 7:08pm Nov 9, 2010 7:08pm
My FREE RIDE still okay for now even the pair found some support atm. Price is pulling back towards 8ema/21ema of H4 (which is normally happened) before (hopefully) continuing the downtrend pattern.

Okay. It is a waiting game now as I want to see how much I can get from this FREE RIDE (even it is just a demo) - or the right way to say is, how long this trade can survive?

Patiently waiting now...
  • #489
  • Nov 9, 2010 7:14pm Nov 9, 2010 7:14pm
Quoting orangeRANGE
My FREE RIDE still okay for now even the pair found some support atm. Price is pulling back towards 8ema/21ema of H4 (which is normally happened) before (hopefully) continuing the downtrend pattern.

Okay. It is a waiting game now as I want to see how much I can get from this FREE RIDE (even it is just a demo) - or the right way to say is, how long this trade can survive?

Patiently waiting now...

could you please provide an updated version of your system with all changes that have been made ?
  • #490
  • Nov 9, 2010 9:39pm Nov 9, 2010 9:39pm
Quoting whatfx
could you please provide an updated version of your system with all changes that have been made ?
There's not much changes in the system. Only the rsi/stoch levels are changed to 10/20 and 80/90. I still use the same indys as posted in page1 of this thread. That's it.

Anyway, I will post my template later today (if the broadband connection okay). Sorry to make you wait.
  • #491
  • Nov 10, 2010 6:28am Nov 10, 2010 6:28am
Quoting whatfx
could you please provide an updated version of your system with all changes that have been made ?
As promised, attached herewith are the the template and the updated RSI Bar indy. Regards.
Attached File(s)
File Type: mq4 RSIBar.mq4   2 KB | 207 downloads
File Type: tpl 515eurofightersystem.tpl   15 KB | 208 downloads
  • #492
  • Nov 10, 2010 6:54am Nov 10, 2010 6:54am
Quoting orangeRANGE
As promised, attached herewith are the the template and the updated RSI Bar indy. Regards.
Sorry guys, this one is the latest tpl. Have a look.
Attached File(s)
File Type: tpl 515eurofightersystem.tpl   23 KB | 243 downloads
  • #493
  • Nov 10, 2010 7:15am Nov 10, 2010 7:15am
Alright,

Technically for today, we can see that there is quite a strong support from 50sma (D1) and price has been ranging between PW 1.3790/1.3710 for the last 12hrs.

From H4's view, I can explain only 1 thing:- 8ema and 21ema are trying to pull back the price towards them before the trend decided (in this case the downtrend is the favourite).

In my case, I prefer to wait around less than an hour before the current H4 candle to close (sometime around 2300hrs++ of my local time) and will decided what I want to do next. Lower TFs (H1, M15 & M5) are too NOISE for me atm.

Any comment/suggestion is most welcome.
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  • #494
  • Nov 10, 2010 9:19am Nov 10, 2010 9:19am
I start to read you thread but you mostly showed your trades. Its interesting... great experience. Could you explain how to use all your indicators (MA, MTF MA, RSI, stochastic) point by point.
  • #495
  • Nov 10, 2010 4:54pm Nov 10, 2010 4:54pm
Quoting dzhini
I start to read you thread but you mostly showed your trades. Its interesting... great experience. Could you explain how to use all your indicators (MA, MTF MA, RSI, stochastic) point by point.
Hello,

By showing my own trades, it is the best to train myself and keep learning. The MA will give you the direction of the trend. If the price cruising above all the MAs, it is an uptrend market. Vice versa for the downtrend. This is the very basic concept of using the MA. They can be your support/resistance for most of the time.

The MTFMA is for you to see the real MA reading from a higher TF from your current chart. As an example, from H4 below, I can see MAs from my D1 chart here (see the dashed line MAs there? 8ema, 21ema ans 50sma).

RSI is basically used in D1 as a reminder whether the market is overbought / oversold. Stochastic and momentum are normally indicate the EMOTION of the price. You can see from the H4 chart below, when the price dive, these 2 indys will go in sync with it.

Hope this helps.
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  • #496
  • Nov 10, 2010 10:57pm Nov 10, 2010 10:57pm
The battle of price is now between the support level from 50sma of D1 VS resistance level from PW1.3790.
  • #497
  • Nov 11, 2010 1:21am Nov 11, 2010 1:21am
Thank you. Still reading )))
  • #498
  • Nov 11, 2010 5:26am Nov 11, 2010 5:26am
It is clearly a downtrend for EU. For the last 12hrs, 8ema still dominating the price, and the price itself is strongly resisted @ PW 1.3790 for the last 32hrs...!!!

A few attempts to break the support from PW 1.3710 (also held by 50sma from D1 - which is quite a strong ones) and the sup/res indy (see rectangle area) indicate 1.3670 is a hard level to be broken atm.

Carefully if you guys want to SELL, because I still don't see a good signal here (PA) even though I predict the price might go to next lower PW @ 1.3630.

Will stay on the sideline and watching for now.
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  • #499
  • Edited 5:05pm Nov 11, 2010 6:36am | Edited 5:05pm
SELL @ PW1.3710 with 80 pips SL/TP using 5min chart entry (see vertical line).

Found good signals (PA) at H1 (bearish engulfing) and H4 (some kind like 3 inside down): PLEASE SEE THE RECTANGLES.

Hope this turns out well...
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  • #500
  • Nov 11, 2010 6:54am Nov 11, 2010 6:54am
A clearer view from H1 (see BEARISH ENGULFING PATTERN in rectangle). Entry (SELL) was made @ candle marked with vertical line.

Comments/suggestions/questions are most welcome.
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