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  • #322,921
  • Nov 10, 2010 4:23am Nov 10, 2010 4:23am
Quoting kassec
Tarantula, please see no offense here (!), but could you let us know what is your way of drawing TL ? Or point to a web site you agree with ... I've seen and read so many things about the use of bodies and wicks that I'm sometime lost. I'd really appreciate to understand what do you consider a valid TL.

Thanks in advance (will avoid me to flood the thread just with a ty post ).
One more post....lol! Valid TLs are the most obvious ones that you can see. TLs are subjective as each person draws them slightly differently. There is no right or wrong, except that a TL must have a minimum of two touches on CLOSED candles, whether they are bodies or wicks. The more touches, the better the TL. TLs will eventually fail... always!
  • #322,922
  • Nov 10, 2010 4:24am Nov 10, 2010 4:24am
Quoting paul1
Hello mr hatch I dont dispute the trade at all.

I could just plainly see the trend line was drawn to fit the statement .

tarantula great poster maybe i just spoke my mind and maybe i should just keep silent .

I will not comment on tarantulas posts seeing as i have offended.
If i see misleading posts i will read them and move on

Apologies for causing trouble.
I think bottom line Paul, TLs are a little subjective, if you draw it off of real bodies and then switch to a different time frame then it could be that it's now off the wicks and vice versa... Just do what you feel comfortable with...
  • #322,923
  • Nov 10, 2010 4:24am Nov 10, 2010 4:24am
Quoting FibbinArchie
any idea when it's likely to conclude? may as well take a nap at this rate...

10:30 GMT or so, but dont quote me on it
Look Sharp/Trade Tight
  • #322,924
  • Nov 10, 2010 4:24am Nov 10, 2010 4:24am
Quoting PayTheLimit
Portugal doing an auction, dont know if thats what their waiting for...
1030GMT plus a few minutes and some vol should hit
"If The Fool persists in his Folly he will become wise." - William Blake
  • #322,925
  • Nov 10, 2010 4:26am Nov 10, 2010 4:26am
Quoting kassec
Congestion triangle in formation. That will break out.
think I'll set some price alerts and close my eyes... in three minutes if nothing happens...
  • #322,926
  • Nov 10, 2010 4:28am Nov 10, 2010 4:28am
Quoting paul1
Hello mr hatch I dont dispute the trade at all.

I could just plainly see the trend line was drawn to fit the statement .

tarantula great poster maybe i just spoke my mind and maybe i should just keep silent .

I will not comment on tarantulas posts seeing as i have offended.
If i see misleading posts i will read them and move on

Apologies for causing trouble.
it's easy, if you distrust tarantula, ignore his statements. that's it. i do it all the time with many aboard here. he has nothing to gain if we loose or win on a position he made a call for or gave a hint. you should always keep that in mind. we all want to steal money from the big hands, not one another. and tarantula is one of the last people i know here that has to make up his charts.

done for the day now.
  • #322,927
  • Nov 10, 2010 4:28am Nov 10, 2010 4:28am
see this one fool....

http://www.forexlive.com/145003/all/...9-2-9-3-of-gdp
Look Sharp/Trade Tight
  • #322,928
  • Nov 10, 2010 4:29am Nov 10, 2010 4:29am
I don't take you wrong at all. Yours is a very valid and relevant question for every trader.

The answer is in the Average Range (volatility) and timeframes. In simple words if you trade, for example, a 1 or 5 min setup only based on that chart and wait for confirmation (whatever you use) it will be as you clearly notice too late most of time or a big drawdown. (that's why most small trader take gamble entries or blind test on lines)

However (and that's the reason I trade H4 and above) is that the Range from a H4 or daily setup is so wide (yesterday short play was 180 pips at least to the next intraday S and if that was broken as it happened ... a lot more) that you don't need to take the ultimate top/bottom to get something, as long as you get in before the meat of the move is gone, you will have the odds in your favor.

So you can take a rejection after the setup is already confirmed on any rejection in my case on a smaller timeframe (h1 yesterday). Obviously, you may miss the move altogether and it wont give you the whole move from the ultimate top (obviously no!!!) but you guarantee a good entry (like yesterday almost 50 pips below the confirmed setup) with minimum drawdown in relation with the R:R.

sisse

Quoting FibbinArchie
Just like to offer an opinion Sisse and please don't take this the wrong way, but if you are waiting for confirmation then aren't you increasing the likelihood of drawdown, your entry is that much further away from your stop and initial tp...

Just my opinion and like you said, no method is really better or worse than the other...
Pending conversations? PM for a chat...I am mainly in OTM now
  • #322,929
  • Nov 10, 2010 4:30am Nov 10, 2010 4:30am
Quoting kassec
Unemployment Claims and Trade Balance.

pls kassec i am still trying hard to understand this news thing on Usd 8:30, what signal are we excepting??? to go short or long on Eur/Usd???? pls help me.

anybody can help me
  • #322,930
  • Nov 10, 2010 4:34am Nov 10, 2010 4:34am
Quoting sisse
I don't take you wrong at all. Yours is a very valid and relevant question for every trader.

The answer is in the Average Range (volatility) and timeframes. In simple words if you trade, for example, a 1 or 5 min setup only based on that chart and wait for confirmation (whatever you use) it will be as you clearly notice too late most of time or a big drawdown. (that's why most small trader take gamble entries or blind test on lines)...
Thanks for such a well reasoned and thought out response...
  • #322,931
  • Nov 10, 2010 4:35am Nov 10, 2010 4:35am
short from 3803 1st target 3634
  • #322,932
  • Nov 10, 2010 4:37am Nov 10, 2010 4:37am
short here 60 pip sl 1.377
  • #322,933
  • Nov 10, 2010 4:41am Nov 10, 2010 4:41am
Quoting Munal
LOL........ Yesterday High to Today Low the recent price movement was of 38.2 FIB Level..........

Munal,

if i may ask....srs trend rider indie....worth looking at it ?
  • #322,934
  • Nov 10, 2010 4:43am Nov 10, 2010 4:43am
went long for a quick pip.

.. well that didnt work. lol
  • #322,935
  • Nov 10, 2010 4:44am Nov 10, 2010 4:44am
Quoting FibbinArchie
I think bottom line Paul, TLs are a little subjective, if you draw it off of real bodies and then switch to a different time frame then it could be that it's now off the wicks and vice versa... Just do what you feel comfortable with...
Hello FA

Sorry for the hassle its just i noticed its was drawn using the body from first candle even though it had a pin, then pin of next candle to form the line .

It may be how tarantula draws them as you say .

My understanding was its got to be consistently opens or closes or pins.
But whichever I've always tended to just use one of these .or just the extreme high or low point.

I must say though on tarantulas next chart he drew pin to pin.
He may draw them different on different charts and not to back up a statement .
Anyone who needs to know about trendlines personally I'd say just pick the extreme high points or lows.
At the end of the day you dont really need them Its clear from the chart which way the trend is going.

Wishing all many plus pips.
making green pips large and red pips small this is my goal.
  • #322,936
  • Nov 10, 2010 4:45am Nov 10, 2010 4:45am
Quoting bradu
Munal,

if i may ask....srs trend rider indie....worth looking at it ?
Well this is yet another profit from that but i do use some filter......

And out with that ..........
Attached Images
  • #322,937
  • Nov 10, 2010 4:51am Nov 10, 2010 4:51am
Here is an update of the chart I posted before Europe opened. Let see if this setup pans out, if it does it could be a double play on the daily trade.

sisse
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddailynov093.JPG Size: 78 KB
Pending conversations? PM for a chat...I am mainly in OTM now
  • #322,938
  • Nov 10, 2010 4:52am Nov 10, 2010 4:52am
This one for EU
Attached Image
  • #322,939
  • Nov 10, 2010 4:58am Nov 10, 2010 4:58am
Portugal Bond Auction.2020 2.1 verse 4.9 in September
  • #322,940
  • Nov 10, 2010 5:00am Nov 10, 2010 5:00am
short 3760, sl 3830, tp 3670....
Look Sharp/Trade Tight
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