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515 Eurofighter System

  • #501
  • Nov 11, 2010 6:58am Nov 11, 2010 6:58am
Quoting orangeRANGE
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.
This signal is selling into quite a strong demand zone, it's a higher risk, lower probability trade imho.
  • #502
  • Nov 11, 2010 4:21pm Nov 11, 2010 4:21pm
Quoting sidefx
This signal is selling into quite a strong demand zone, it's a higher risk, lower probability trade imho.
Sorry for the later reply but I already fall asleep last night. Yes, I admit that it is not a high probability trade, but I also believe PAs based on H1 & H4 were stands for something. So I like to give it a try.
  • #503
  • Nov 11, 2010 4:37pm Nov 11, 2010 4:37pm
Quoting orangeRANGE
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.
Okay,

It almost touch PW 1.3630 (my TP) but I think it might go there today. Seems the support level @1.3670 as per H4 unable to hold the price from breaking it last night.

Well, I am just gonna leave this trade with 50% risk by removing my SL 40pips lower from previous ones (Just the way I will do it if this is a real account as well). Getting back my 40pips now...yeehaa!!!

Comments/suggestions/questions are most welcome.

Cheers...
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  • #504
  • Nov 11, 2010 4:59pm Nov 11, 2010 4:59pm
If I wasn't asleep last night, I would have made another entry somewhere at the rectangle area because both stochastic and momentum was giving a very good signal (swing high) @ 50sma.

This is a downtrend price so I would always favour this kind of set up from 5mins chart (vice versa if it is an uptrend).

What a miss...
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  • #505
  • Nov 11, 2010 5:14pm Nov 11, 2010 5:14pm
Hi just found your thread - very interesting. I presume you trade this during the Asian session?
Just trade the pullback you idiot!
  • #506
  • Nov 11, 2010 5:24pm Nov 11, 2010 5:24pm
Quoting Batavier
Hi just found your thread - very interesting. I presume you trade this during the Asian session?
Hi...thank you.

Nope...I trade during mid euro-us session most of the time. I will use the Asian session to "create the trend" and do my analysis based on it.

That's how its work. Cheers.
  • #507
  • Nov 11, 2010 9:48pm Nov 11, 2010 9:48pm
Quoting orangeRANGE
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...
Another 80pips in the bag from this trade (3rd demo). The first one from my other Demo Account (in my wife's laptop) was the 1st 88pips gain of the week (see here:- http://www.forexfactory.com/showpost...&postcount=487).

Also, there is another FREE RIDE that's still gaining for more pips from my 2nd trade. Cool.

Already bagged 168pips this week (excluding the one that riding for free atm).

Comments/suggestions/questions are most welcome.

Cheers.
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  • #508
  • Nov 12, 2010 12:40am Nov 12, 2010 12:40am
Price is now making its attempt to break the 365ema @ H4 but I think we are going to have some real big support around the rectangle area (nearby 365ema @ D1), where the PW 1.3470 is waiting.

Have to wait & see until next week though...


Comments/suggestions/questions are most welcome. Cheers.
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  • #509
  • Nov 12, 2010 5:45am Nov 12, 2010 5:45am
Quoting orangeRANGE
My 1st trade (entry @ 1.3918) hit the TP (@ 1.3830)...!!!

So now, I modified my 2nd trade's SL (from 1.4000) to...
Okay, seems the market showing the rhythm atm as per H4(see the ellipse area). Price is bouncing back towards 21ema (which is normally happened before it continues its trend) and getting a great support from 365ema.

So I decided to do the trailing stops strategy by reducing the SL to 160pips lower (just nearby 21ema) because I don't want to loose the potential pips just in case the market retest the PW1.3630 later on. Otherwise, it will be wiped later (could be) and nothing to lose either way.

Another clean 160pips added in my account though.

Cheers...
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  • #510
  • Nov 12, 2010 9:33am Nov 12, 2010 9:33am
Quoting orangeRANGE
Okay, seems the market showing the rhythm atm as per H4(see the ellipse area). Price is bouncing back towards 21ema (which is normally happened before it continues its trend) and getting a great support from 365ema.

So I decided to do the trailing stops strategy by reducing the SL to 160pips lower (just nearby 21ema) because I don't want to loose the potential pips just in case the market retest the PW1.3630 later on....
My FREE RIDE has ended few hours ago. So, 160pips gain it is. I am enjoying this demo...
  • #511
  • Nov 12, 2010 9:44am Nov 12, 2010 9:44am
Quoting orangeRANGE
My FREE RIDE has ended few hours ago. So, 160pips gain it is. I am enjoying this demo...
The history so far...
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  • #512
  • Nov 12, 2010 10:38am Nov 12, 2010 10:38am
Okay, SELL @ the same candle of 5mins chart (see vertical line) @ 1.3702 (1st entry) and 1.3717 (2nd entry). Both using 80pips SL with TP equally set @ 1.3637 (just 7pips above PW 1.3630).

The reason of selling is because PA (price action) @ 89sma of H1 is quite interesting (see rectangle), supported by momentum @ its peak & stochastic @ swing high position.

The previous candle @ H4 is also a spinner with a very long upper wick against the 21ema, which can only tell me 2 things:- either the price fail/succeed in its attempt to break above this EMA later on. Please remember there is 50sma of D1 (previously was a great support level) will double team with 21ema of H4 as the resistance area.

Let us wait & see the result. It will be either double strikes/blows.

Cheers.
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  • #513
  • Nov 12, 2010 11:17am Nov 12, 2010 11:17am
Quoting orangeRANGE
Okay, SELL @ the same candle of 5mins chart (see vertical line) @ 1.3702 (1st entry) and 1.3717 (2nd entry). Both using 80pips SL with TP equally set @ 1.3637 (just 7pips above PW 1.3630).
Modifying my 2nd entry's SL to the same level with 1st entry's SL @ 1.3782 to reduce some risk...

Just another way to manage my trade when the confidence is only 50%.
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  • #514
  • Nov 12, 2010 8:01pm Nov 12, 2010 8:01pm
From a higher TF, we can clearly see what is the direction of the market. I believe we all have almost the same trend lines per the weekly chart below.

Firstly, we look at the 1st TRIANGLE where the price broke below it and went downside. Then, we see the 2nd TRIANGLE where the same breaking down pattern has the potential to be repeated here. However, it may takes weeks/months before we know what we can get from this current triangle.

Don't forget to see 2 arrows for each sup/res TLs. Also, see how the momentum and stochastic indicate the direction of this pair for the next couple of weeks. You guys know where they are heading to.

The chart alone explain a lot. Comments/suggetions/questions are most welcome.

Cheers and have a great weekend.
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  • #515
  • Nov 13, 2010 9:41pm Nov 13, 2010 9:41pm
For those who visiting this thread for the first time, here is the list of the additional indicators you need to upload if you wish to use this system in your trading.

Please let me know, if they are not working. Thanks.
Attached File(s)
File Type: mq4 _Stochastic_Cross_Alert_SigOverlayM_cw.mq4   6 KB | 232 downloads
File Type: ex4 STOCH_Bars_M#_v2.ex4   36 KB | 227 downloads
File Type: mq4 MTFMovingAverage.mq4   5 KB | 216 downloads
File Type: mq4 Support_Resistance.mq4   2 KB | 224 downloads
File Type: mq4 RSIBar.mq4   2 KB | 216 downloads
  • #516
  • Nov 14, 2010 4:15pm Nov 14, 2010 4:15pm
I would like to share the method I learned during fx seminar before. It is the from Easy Forex analyst expert.

He only using 20sma & RSI in his charting. But,I just a few more indys & still keeping my PW in my chart.

The idea is pretty simple: The market is downtrending if the price went below 20sma (based on D1). Vice versa for the uptrending ones.

From D1, favour the BUY signal when RSI go below oversold level (10/20) and when the market is overbought (80/90), look for SELL signal.

Please refer to the template given here, but remember to upload all the additional indicators given in the post #515 (above) if you wish to use this method in your trading.

Comments/suggestions/questions are most welcome.
Attached Image (click to enlarge)
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Attached File(s)
File Type: tpl 20smaMETHOD.tpl   16 KB | 215 downloads
  • #517
  • Nov 14, 2010 5:19pm Nov 14, 2010 5:19pm
Trying to be nasty here. Made 2 entries (SELL) @ 1.3685 per 5mins chart and another one @ 1.3693(see vertical lines) .

Nice PA against PW 1.3710 per H1 (see rectangle) and supported by PA (see ellipse)against 20sma of H4 (from the other method as I mentioned in post #516).

Not sure this one gonna be alright or not. Just give it a try for triple strikes.
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  • #518
  • Nov 14, 2010 9:54pm Nov 14, 2010 9:54pm
Quoting orangeRANGE
Trying to be nasty here. Made 2 entries (SELL) @ 1.3685 per 5mins chart and another one @ 1.3693(see vertical lines) .

Nice PA against PW 1.3710 per H1 (see rectangle) and supported by PA (see ellipse)against 20sma of H4 (from the other method as I mentioned in post #516).

Not sure this one gonna be alright or not. Just give it a try for triple strikes.
Got stopped out...bad entries
  • #519
  • Nov 14, 2010 10:08pm Nov 14, 2010 10:08pm
Just made another 4 entries to regain my losses today (see vertical lines of 5mins).

Nice PA formation of H1 (see rectangle): 3 INSIDE DOWN pattern. Also, good PA against PW1.3710 and 21ema of H4 (long upper wick of bearish candle).

Hope this one doing well...

Comments/questions/suggestions are most welcome. Cheers.
Attached Image(s) (click to enlarge)
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  • #520
  • Nov 14, 2010 11:46pm Nov 14, 2010 11:46pm
Quoting orangeRANGE
Just made another 4 entries to regain my losses today (see vertical lines of 5mins).

Nice PA formation of H1 (see rectangle): 3 INSIDE DOWN pattern. Also, good PA against PW1.3710 and 21ema of H4 (long upper wick of bearish candle).

Hope this one doing well...

Comments/questions/suggestions are most welcome. Cheers.
Adjusting one of the trade with no TP because I am looking for a one free ride (if possible).
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