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Part 2 EURUSD Trend magic System

  • #361
  • Dec 14, 2010 8:49am Dec 14, 2010 8:49am
2 nice set ups today, got 1 and missed 1.
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  • #362
  • Dec 14, 2010 9:17am Dec 14, 2010 9:17am
This is also a nice set up.
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Intraday only.
  • #363
  • Dec 15, 2010 4:11am Dec 15, 2010 4:11am
Nice lh.
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  • #364
  • Dec 15, 2010 11:26am Dec 15, 2010 11:26am
Vantage, why did you not take the earlier entry before the arrow, ie the where there are three red candles?
  • #365
  • Dec 15, 2010 12:51pm Dec 15, 2010 12:51pm
Quoting Dave1
Vantage, why did you not take the earlier entry before the arrow, ie the where there are three red candles?
My guess is because although price had made 1 lower high, it hadn't made a lower low so at least another lower low gives confidence that the trend has changed to down
Dream big, start small. Have it all
  • #366
  • Dec 15, 2010 11:51pm Dec 15, 2010 11:51pm
Quoting Dave1
Vantage, why did you not take the earlier entry before the arrow, ie the where there are three red candles?
Whilst I think this method is simple and helps keep you right side of trend I don't trade it blind. There was some resistance there and some 15 min hammers. I waited for a lower high and move below 15 min hammer low.

So I trade it with my hl/lh tweaks but think the simplicity is fantastic.
  • #367
  • Dec 17, 2010 3:00am Dec 17, 2010 3:00am
Posted elsewhere but what the heck I think this little method with 5 min hl/lh's a gem.
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  • #368
  • Dec 28, 2010 6:22pm Dec 28, 2010 6:22pm
Quoting Vantage
Posted elsewhere but what the heck I think this little method with 5 min hl/lh's a gem.
this holiday week seems like maybe a waste of time--will it most likely be? i am in Boston area so to trade London it will be 3am my time.
Thoughts?
  • #369
  • Dec 29, 2010 2:45am Dec 29, 2010 2:45am
Quoting simpletrades
this holiday week seems like maybe a waste of time--will it most likely be? i am in Boston area so to trade London it will be 3am my time.
Thoughts?
Mrs V and I are taking this week off. I'd suggest if you are to trade don't look for big runs grab those 20 pips and be happy.

I know jag has been trading per a couple of posts on hl/lh thread, Paulus also has been trading through the last 2 weeks with good success.
I'll add link to 1 2 3 thread he's on, they always wait for break of 2 point it seems.

I'll get that thread link now.

PS The only reason I'm on now is Mrs V is listening to Andre Rieu, my goodness Sarah Brightman, 3 tenors, Andrea Bochelli (excuse any typos) I can understand but Andre Rieu wheres the sick bag.
  • #370
  • Dec 29, 2010 2:46am Dec 29, 2010 2:46am
Quoting Vantage
Mrs V and I are taking this week off. I'd suggest if you are to trade don't look for big runs grab those 20 pips and be happy.

I know jag has been trading per a couple of posts on hl/lh thread, Paulus also has been trading through the last 2 weeks with good success.
I'll add link to 1 2 3 thread he's on, they always wait for break of 2 point it seems.

I'll get that thread link now.
There you go
http://www.forexfactory.com/showthread.php?t=232466
  • #371
  • Jan 16, 2011 2:47am Jan 16, 2011 2:47am
Quoting Vantage
2 nice set ups today, got 1 and missed 1.
Vantage.

I have seen several of your posts. Did you put the arrows in your graph or does the indicator post the arrow on the screen? If the indicator puts the arrows on the screen please post what indicator you are using.

Thanks.
  • #372
  • Jan 16, 2011 8:40am Jan 16, 2011 8:40am
Quoting Evaluator
Vantage.

I have seen several of your posts. Did you put the arrows in your graph or does the indicator post the arrow on the screen? If the indicator puts the arrows on the screen please post what indicator you are using.

Thanks.
I put the arrows on to show the candle that set up entry for me. When price goes above/below the extreme of that candle thats when I go in.
  • #373
  • Jan 17, 2011 3:35am Jan 17, 2011 3:35am
Sell 3782, target 50 level hit.
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  • #374
  • Jan 17, 2011 7:39am Jan 17, 2011 7:39am
Quoting Vantage
Sell 3782, target 50 level hit.
you mean you sold 3332 and covered 3282 for 50? 3782 was a long time ago--more like 500 pips. either is nice.
  • #375
  • Jan 17, 2011 7:44am Jan 17, 2011 7:44am
Quoting simpletrades
you mean you sold 3332 and covered 3282 for 50? 3782 was a long time ago--more like 500 pips. either is nice.
Sorry typo, 3282 sold tp 3250.
  • #376
  • Jan 20, 2011 4:05am Jan 20, 2011 4:05am
2 trades this am. +12 +25.
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  • #377
  • Edited 4:13pm Jan 21, 2011 11:00am | Edited 4:13pm
Quoting Vantage
2 trades this am. +12 +25.
i saw that first entry opportunity but was trying to figure out the importance of EURUSD and EURGBP to a successful GBPUSD move.
EURUSD was climbing back but its TM and BBMACD were short so that concerned me and EURGBP was confirming short --which made sense since the GBP relative to the EUR was therefore climbing, but 2 bars later EURGBP reversed direction although its TM BBMACD didnt.

I kind of thought EURGBP at that time of day was more controlling on the GBP than EURUSD would be on the USD since US markets and banks were closed. But I still passed on the long entry. Is there a co-dependence? I see a lot that EURUSD and EURGBP need to be moving the same direction for an entry of either to work irregardless of whether both TM BBMACDs are the same color for the 2 symbols.
  • #378
  • Jan 22, 2011 3:42am Jan 22, 2011 3:42am
Quoting simpletrades
i saw that first entry opportunity but was trying to figure out the importance of EURUSD and EURGBP to a successful GBPUSD move.
EURUSD was climbing back but its TM and BBMACD were short so that concerned me and EURGBP was confirming short --which made sense since the GBP relative to the EUR was therefore climbing, but 2 bars later EURGBP reversed direction although its TM BBMACD didnt.

I kind of thought EURGBP at that time of day was more controlling on the GBP than EURUSD would be on the USD since US markets and banks were closed. But I still...
I don't watch eurgbp at all so cannot comment there. I used to have swissy up to check that all are agreeing. 1 has to lead generally so if you miss that one then may get chance to trade the other that catches up. I have taken swissy off.

Am looking to concerntrate on trading in line with daily and viewing anything else as counter trend.

Cannot remember which trader said it but 'if its going up buy it, if its going down sell it'. So if daily is up I'm happier buying etc etc.

So daily was up, we had broken above a D res area, 5900 from 14 Dec, and the Asian move down was rejected on 1hr. So quite happy to buy retraces on something going up.

On eu (as mentioned on hl/lh thread) I was expecting problems 3500-3550 so I just decided to leave that one and focus on gu. If I was watching Fri pm here (US open) a perfect upper close little upper wick hammer on 1hr would have given confidence I think to buy. It closed on 3550 area and one of my other rules of thumb is smaller bounces from key areas = good chance of fail of that key level. You'll see from 5 min the hl's going into US open suggested level would fail and move up had good chance.
  • #379
  • Jan 22, 2011 10:57am Jan 22, 2011 10:57am
Quoting Vantage
I don't watch eurgbp at all so cannot comment there. I used to have swissy up to check that all are agreeing. 1 has to lead generally so if you miss that one then may get chance to trade the other that catches up. I have taken swissy off.

Am looking to concerntrate on trading in line with daily and viewing anything else as counter trend.

Cannot remember which trader said it but 'if its going up buy it, if its going down sell it'. So if daily is up I'm happier buying etc etc.

So daily was up, we had broken above a D res area, 5900 from 14 Dec,...
in other words, on the 5 min you still follow TM and BBMACD but ignore new setups if they are counter the daily trend?

also 'swissy' is chf with what paired currency?
  • #380
  • Jan 23, 2011 5:05am Jan 23, 2011 5:05am
Quoting simpletrades
in other words, on the 5 min you still follow TM and BBMACD but ignore new setups if they are counter the daily trend?

also 'swissy' is chf with what paired currency?
Since Mrs V started trading with me we are taking profits around 20-30 pips. She has been inducted into the 20 pips bank hall of fame.

I want to use the daily (green candle green histo and vice versa see chart as example you'll get drift) more as my definition of trend. Then using this method (with my hl/lh tweaks on entry) to let trades run a little longer in that trend direction. I'll take good counter trend set ups but hopefully there will be a difference in pips banked.

I don't know if I'll get this right as banking early is pretty much in my dna, they say you can't teach an old dog new tricks!!

Usdchf.
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