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  • #9,841
  • Dec 9, 2010 4:28pm Dec 9, 2010 4:28pm
Quoting danc
Notice the DX on the 5 hr is nowa lower dtop.. and 55% point of last week s weekly candle range..I wonder??
dollar rally stopped right in the right place last night, if you are a dollar bull this is not really what you want to see, you would much prefert that it broke the resistance, next move should be back to the lows. EU did the exact opposite move last night, probable move back to 1.34 on Friday.
Attached Image (click to enlarge)
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  • #9,842
  • Dec 9, 2010 5:06pm Dec 9, 2010 5:06pm
[quote=lite27;4233708] The range of 80,40, 140 pips for euro/usd? You mean that after every swing High or Low we should add to extreme 80 pips in order to know where to take our profit?
quote]

Here is an example of how i use range bars, this shows 140 pip range bars for the euro in November and december, when I am bearish I sell all 140 pip tops, the sells I did are marked with red dots.

When I am bullish I buy all the 140 pip bottoms.

This week price has retraced 140 pips 3 times, each time making a lower high which looks bearish, but until we break out of the green lows (lower chart) I am holding my longs because if it was truely bearish then 1.3160 should not have held as support.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.GIF Size: 20 KB
Click to Enlarge Name: eu2.GIF Size: 16 KB
  • #9,843
  • Dec 9, 2010 7:20pm Dec 9, 2010 7:20pm
Amyc, thank you for your reply. I ve got your method. Looks solid to me. My method shows me that euro has a long way down for many many monthies and I sell every rally without any hezitasion. Shortterm Euro will rise to 1.3281 and fall afterwards to 1.2950. Tommorow euro will rise to 1.3281. It is my opinion. I started to incorporate your method into mines. Thank you once more,
  • #9,844
  • Dec 10, 2010 12:29am Dec 10, 2010 12:29am
[quote=amyc;4233765]
Quoting lite27
The range of 80,40, 140 pips for euro/usd? You mean that after every swing High or Low we should add to extreme 80 pips in order to know where to take our profit?
quote]

Here is an example of how i use range bars, this shows 140 pip range bars for the euro in November and december, when I am bearish I sell all 140 pip tops, the sells I did are marked with red dots.

When I am bullish I buy all the 140 pip bottoms.

This week price has retraced 140 pips 3 times, each time making a lower high which looks bearish,...
HI Amyc,
Look at this chart. The H&S that I mentioned a while a go is still valid. It needed to close above 99.6 to invalidate the H&S. I am still bearish on AUD. I am currently not in any trades, but will go short in 3 hours ( Saturn hour) or if it pulls up above 98.8 sooner. My target of 96.6, and 95.5 in extension will hit before xmas ( hopefully).
Attached Image (click to enlarge)
Click to Enlarge Name: AUD10.12.10.png Size: 35 KB
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  • #9,845
  • Dec 10, 2010 12:38am Dec 10, 2010 12:38am
[quote=tradoholic;4234310]
Quoting amyc
HI Amyc,
Look at this chart. The H&S that I mentioned a while a go is still valid. It needed to close above 99.6 to invalidate the H&S. I am still bearish on AUD. I am currently not in any trades, but will go short in 3 hours ( Saturn hour) or if it pulls up above 98.8 sooner. My target of 96.6, and 95.5 in extension will hit before xmas ( hopefully).
My au charts say we continue up, but either way doesn't matter to me, if i get stopped out it will still be with 220 pips profit per position.
  • #9,846
  • Dec 10, 2010 12:43am Dec 10, 2010 12:43am
[quote=amyc;4234325]
Quoting tradoholic

My au charts say we continue up, but either way doesn't matter to me, if i get stopped out it will still be with 220 pips profit per position.
You did very well both on AUD and EU. Congrats.
Find a job that you love and you dont have to work again in your life.
  • #9,847
  • Dec 10, 2010 1:06am Dec 10, 2010 1:06am
[quote=tradoholic;4234330]
Quoting amyc
You did very well both on AUD and EU. Congrats.
Thankyou
  • #9,848
  • Dec 10, 2010 2:01am Dec 10, 2010 2:01am
[quote=tradoholic;4234310]
Quoting amyc
HI Amyc,
Look at this chart. The H&S that I mentioned a while a go is still valid. It needed to close above 99.6 to invalidate the H&S. I am still bearish on AUD. I am currently not in any trades, but will go short in 3 hours ( Saturn hour) or if it pulls up above 98.8 sooner. My target of 96.6, and 95.5 in extension will hit before xmas ( hopefully).
Just as a matter of interest.. Put up a daily say about a 30 day chart and tell me what sort of basic Patten u see..If u see the same patten i see.. which do u think has the strongest clout..The shorter or longer?? I would like your opnion.. maby i am seeing things.. Maby what i think i see is not there..But if u see what i think i see..Check the volume to.. I think it is positive.. But i could be wrong..
  • #9,849
  • Dec 10, 2010 2:16am Dec 10, 2010 2:16am
[quote=danc;4234480]
Quoting tradoholic
Just as a matter of interest.. Put up a daily say about a 30 day chart and tell me what sort of basic Patten u see..If u see the same patten i see.. which do u think has the strongest clout..The shorter or longer?? I would like your opnion.. maby i am seeing things.. Maby what i think i see is not there..But if u see what i think i see..Check the volume to.. I think it is positive.. But i could be wrong..
Are you talking about eu? For that pair I am not really sure on a direction at the moment, I think it could go either way, i'm just ging to wait and see where the weekly close is at.
  • #9,850
  • Dec 10, 2010 2:36am Dec 10, 2010 2:36am
Hi Danc,
Here is a 30 day chart with Fibs. 98.6 seems to be a confluence area. Looking at the fibs and 12 month average, I think it wouldnt close above this in todays session. I am bearish on AU at the moment considering the fundamentals and possible chinese rate hike. But a 12 month chart gives us a better long term view.
Attached Image (click to enlarge)
Click to Enlarge Name: aud30days.png Size: 35 KB
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  • #9,851
  • Dec 10, 2010 3:32am Dec 10, 2010 3:32am
Quoting tradoholic
Hi Danc,
Here is a 30 day chart with Fibs. 98.6 seems to be a confluence area. Looking at the fibs and 12 month average, I think it wouldnt close above this in todays session. I am bearish on AU at the moment considering the fundamentals and possible chinese rate hike. But a 12 month chart gives us a better long term view.
.. MMM Thanks for the reply Trade oholic.. will have a good hard look..

No Amy c.. was refereing to the Aussie.. abt 30 days to give clear view.. with weekly Pivots on and 3X3 and 7X5 Smas on.. to me it looks like a clear H/S patten.. but 3 things i like in paticular .. are 3 very strong candles off low and now a 6 day consolidation inside the top candle all above the current weekly ppx..Then the volume.. not counting to day but the three previous days..To me i looks like it may be setting its self up to run..
The Euro i am long but uneasy..

The DX.. looking hard at the volume.. which is hi on daily BUT is that because the change from dec to new month?? BUT on the hour chart the vol last night.. keep in mind i am in AUS.. looks like it was sold..so am looking at my take on the DX to drive the EU hier.. would be keen to hear any thoughts u have on the matter..Your ranges i am playing at the mo..Till i understand more..i will be doing em all by hand so will set up sum charts and watch..
  • #9,852
  • Dec 10, 2010 5:14am Dec 10, 2010 5:14am
HI Amyc,
My short order got hit at 98.8, No Sl at the moment. Will wait and see what happens.
Find a job that you love and you dont have to work again in your life.
  • #9,853
  • Dec 10, 2010 5:38am Dec 10, 2010 5:38am
Quoting danc
.. MMM Thanks for the reply Trade oholic.. will have a good hard look..

No Amy c.. was refereing to the Aussie.. abt 30 days to give clear view.. with weekly Pivots on and 3X3 and 7X5 Smas on.. to me it looks like a clear H/S patten.. but 3 things i like in paticular .. are 3 very strong candles off low and now a 6 day consolidation inside the top candle all above the current weekly ppx..Then the volume.. not counting to day but the three previous days..To me i looks like it may be setting its self up to run..
The Euro i am long but uneasy.....
For au I see nothing bearish looking at any timeframe chart. I don't use volumes though and I don't use head and shoulder patterns so maybe I am missing something but I am not expecting a fall.
  • #9,854
  • Dec 11, 2010 12:12pm Dec 11, 2010 12:12pm
Hello Amyc, I have red your journal. Please,help me to clear 3 questions. 1.Whats do you mean under daily pp-pivot point? Is it another name of midpoint or you calculates daily pivot points and pp is a central pivot? 2.Do you have some EA programm which can calculate midpoint and draw all the lines? 3.Did I got it correct that in order to take a profit you add 40, 80 or 140 pips to every swing high or low? If so, how do you determine what number to use? Thank you, have a wonderfull week!
  • #9,855
  • Dec 11, 2010 5:29pm Dec 11, 2010 5:29pm
I have a Q for you too Amy, hope ya don't mind.

Do you have a set trading schedule (certain hours, days, or sessions), and if so do you mind sharing it?

I struggle with London volatility kicking me out of trades ( trying to get in on the cheap with too tight stops), when I am asleep. I have been debating the usefulness of staying up (LO is at midnight in my timezone) for a couple hours of London, but haven't made the commitment yet.
  • #9,856
  • Dec 11, 2010 11:41pm Dec 11, 2010 11:41pm
Quoting Low
I have a Q for you too Amy, hope ya don't mind.

Do you have a set trading schedule (certain hours, days, or sessions), and if so do you mind sharing it?

I struggle with London volatility kicking me out of trades ( trying to get in on the cheap with too tight stops), when I am asleep. I have been debating the usefulness of staying up (LO is at midnight in my timezone) for a couple hours of London, but haven't made the commitment yet.

Hi Low, I don't have a trading schedule. I just trade when I see an opportunity. I trade very little these days, this week I only made one currency trade and that was a long on au at 9804 which I am still holding.
I'm finding it far more profitable and much easier as I don't have to worry about volatility. Currently I am sitting on 600 pips worth of eu longs and 706 pips worth of au longs.
If you are having trouble with London volatility one thing I would suggest is to have a 4hr bar open at the start of London, I find this much more useful than having the bars based on us timezones. The majority of the money is traded in London and you need your chart to show where this is going. I run 2 4hr charts, one based on London time and one based on us timezones that most brokers use and the London one is many times more useful to me.
  • #9,857
  • Dec 11, 2010 11:51pm Dec 11, 2010 11:51pm
[quote=lite27;4236685]Hello Amyc, I have red your journal. Please,help me to clear 3 questions. 1.Whats do you mean under daily pp-pivot point? Is it another name of midpoint or you calculates daily pivot points and pp is a central pivot?

Pivot point and midpoint are all the samething.


2.Do you have some EA programm which can calculate midpoint and draw all the lines?

Yes but I can't post it here as it is part of a software program I use called fibonacci trader, it is not mt4. If you look around i'm sure someone has coded it for mt4 if that is what you want though.


3.Did I got it correct that in order to take a profit you add 40, 80 or 140 pips to every swing high or low? If so, how do you determine what number to use?
It depends on what timeframe you are trading and where support and resistance are.
  • #9,858
  • Dec 11, 2010 11:51pm Dec 11, 2010 11:51pm
Quoting amyc
Hi Low, I don't have a trading schedule. I just trade when I see an opportunity. ...

Thanks Amy

I'm with Oanda, and I believe I can set the system time to reflect LO, though it will be 3H bars.

After reading your thread in it's entireity, I am a little surprised you can gather multiple positions using such small SL's. Last summer I tried my damnedest to scale heavily into a long pound trade, and only wound up with 6 positions surviving to 1.58 (trade duration was only 2 months), any pointers here?
  • #9,859
  • Dec 12, 2010 2:46am Dec 12, 2010 2:46am
Quoting Low
Thanks Amy

I'm with Oanda, and I believe I can set the system time to reflect LO, though it will be 3H bars.

After reading your thread in it's entireity, I am a little surprised you can gather multiple positions using such small SL's. Last summer I tried my damnedest to scale heavily into a long pound trade, and only wound up with 6 positions surviving to 1.58 (trade duration was only 2 months), any pointers here?
My stops are wider to what I was using back then. I am trialing a new longer term approach at the moment.
  • #9,860
  • Dec 12, 2010 4:49am Dec 12, 2010 4:49am
Hi, Amyc, thank you for your explanations. If you dont mind one more question. Do you draw lines at High and Low of previous Monthly, Weekly and Daily candles? All the 3 timeframes? If so, do you use these horizontal lines for position opening and profit taking? Do you opene positions on the base of 4H candle closing under/above the midpoint or a reversal candle, closing/opening above/under Monthly, Weekly and Daily horizontal lines of High/Low are the reason for you to open a trade? Thank you,I am glad that found your thread
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