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  • #365,401
  • Jan 15, 2011 9:28pm Jan 15, 2011 9:28pm
Continued...

For the DAILY candle...

I use a daily open, set to 5PM EST to help me monitor daily roll as the line in the sand.

This shows me where true daily support or resistance is, and watching this on any time frame helps me see the general direction or trend of market.

Horizontal lines mark daily roll, the vertical lines show the difference in the 24Hr period.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #365,402
  • Jan 15, 2011 10:53pm Jan 15, 2011 10:53pm
is there anybody here who could make an ea 4 me?
- May Buddha bless you.
  • #365,403
  • Jan 15, 2011 11:31pm Jan 15, 2011 11:31pm
Quoting Magix
Continued...

For the DAILY candle...

I use a daily open, set to 5PM EST to help me monitor daily roll as the line in the sand.

This shows me where true daily support or resistance is, and watching this on any time frame helps me see the general direction or trend of market.

Horizontal lines mark daily roll, the vertical lines show the difference in the 24Hr period.
Thank you for your effort and answer. I now understand it and will try on my own to watch these candles especially the daily ones.

Good day (Early morning in Canada)

Looking forward to Monday open in Europe. I thinkl there is holiday in Japan.
  • #365,404
  • Jan 16, 2011 12:06am Jan 16, 2011 12:06am
Quoting kill56
hi all
i like to post this in the weekend

Read with me or its up to u

Forget the news, remember the chart. You’re not smart enough to know how news will affect price. The chart already knows the news is coming.
Buy the first pullback from a new high. Sell the first pullback from a new low. There’s always a crowd that missed the first boat.
Buy at support, sell at resistance. Everyone sees the same thing and they’re all just waiting to jump in the pool.
Short rallies not sell-offs. When markets drop, shorts finally turn a profit and get...
It's fair to post the source, too...
  • #365,405
  • Jan 16, 2011 12:15am Jan 16, 2011 12:15am
Quoting Magix
I am going out on a limb here, are you asking if the candle "stays", open until the time period is over?

IF, this is your question, the answer is yes. The trigger on trends I take are based on CLOSED candles. No matter what the time period.

That being said, I do not necessarily work off an H4 candle trigger due to brokers opening at different times and the DAILY candle is completely up to the brokers period of roll over.

So, for daily candles, I mark off from True Daily Roll...5PM EST. This I call the true daily candle.

Others, on an analysis...
Very nice teaching Margix but to absorb may need more time , running very dull these days . so copy,paste to see other time.

Anyway H4 candle imposed on M15 chart , macd , stoch used slow one , trend up.can you show one more time how the all ducks in one line ( from my forex start I heard many times these words but never clear or success follow this one line trigger , perhaps no patience to see all of them together )come up to trigger on this chart , small tf & so small movements perhaps . thanks .
fontu
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #365,406
  • Jan 16, 2011 1:11am Jan 16, 2011 1:11am
Quoting Magix
Whoa B....

Remarkable similarities from what I have noticed...

Kinda reminds me of this guy...awww, never mind, can't remember his name right now, but was on the tip of my tongue only moments ago...
lol... there are plenty of them around here who can't accept being wrong. I have been wrong plenty of times. One needs to accept the loss, get over it and let go.
  • #365,407
  • Jan 16, 2011 1:34am Jan 16, 2011 1:34am
Quoting skozyuk
Whats the source of that image? I would love to read the context of the article it was posted with.

SKozyuk

The article is here, free to register

http://www.johnmauldin.com/frontline...he-unthinkable

John Mauldin a must read IMHO
rat
  • #365,408
  • Jan 16, 2011 1:36am Jan 16, 2011 1:36am
Quoting fontu
Very nice teaching Margix but to absorb may need more time , running very dull these days . so copy,paste to see other time.

Anyway H4 candle imposed on M15 chart , macd , stoch used slow one , trend up.can you show one more time how the all ducks in one line ( from my forex start I heard many times these words but never clear or success follow this one line trigger , perhaps no patience to see all of them together )come up to trigger on this chart , small tf & so small movements perhaps . thanks .
fontu
I have always been most fond of trading through the different time frames. Catching a piece of direction where ever direction heads. I typically trade the shorter time frames, 1m/5m in favor of daily movements.

All of my charts come out looking the same, so identifying support and resistance is just a matter of clicking through the various time frames to see where we are heading next.

With the use of the daily roll over as my major s/r line, I watch to see where the next line in the sand might be. I am providing 3 charts to show you what I see as I am seeing it...

I have taken the H4 candle and superimposed it on the shorter time frames, as well as have my settings on MACD, Stochs visible. Both the MACD and Stochs are not the standards that come with Meta4. The MACD is obviously green for buys and red for sells, where as the stochs will show exactly the same with the factory stochs, but the version I use has an audible chime and pop up window to allow me an early alert on the changing of the trend.

Chart1, 4 time frames with all sets, hulls and 200EMA.
Chart2, H4 time frame with all ducks in a row
Chart3, an idea of what my current 15m looks like.

My M15 chart, you can see where price found support on the daily roll over, MACD went to positive and Stochs crossed up. I have another indicator for a trigger on trend with these, but didn't want to clutter up the charts with additional arrows.

I have posted my ideas for the beginning of the week, but until something happens, there really isn't anything to talk about.
http://www.forexfactory.com/showpost...stcount=365445
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #365,409
  • Jan 16, 2011 1:36am Jan 16, 2011 1:36am
XE and Fxstreet showing EU at 1.3342
GL
  • #365,410
  • Jan 16, 2011 1:50am Jan 16, 2011 1:50am
Quoting bbakker
Don't Trade Like Tony Montana

Fly on any Jetblue flight from New York to Fort Lauderdale and a curious thing will happen. If one of the Direct TV channels happens to be playing Scarface, every seat with a man in it will turn to that channel within 5 minutes until the whole plane is watching the movie. Guys love Tony Montana - the swaggering, psychotic gangster immortalized by Al Pacino.

Who amongst us can forget that final scene when Pacino faces a crowd of assassins screaming “Say hello to my leeeetle friend!” as he...
Nice ... and therefore you copy and paste like a Tony Montana ... right from one insubstantial plastik-fantastik website (fxstreet.com) into another Tony Montana like insubstantial plastik-fantastik (FF) forum place ...

Fully overcrowded by same kind of readers and all those 'beloved' plenarily trivial and unsubstantial "experts" ... without any proof or evidence of real merits ...

That makes sense ...


Tot de volgende keer!



;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #365,411
  • Jan 16, 2011 2:00am Jan 16, 2011 2:00am
Anyone think we will have a pull back from 1.34ish to 1.3150-1.3200 which has been the midpoint balance in this trading range the past month?
previous trades last week:
Euro up from 1.29 +75
Aussie down from .9938 +80
Euro down from 1.3450 +125
= +280 not bad, could be better, no losing trades
  • #365,412
  • Jan 16, 2011 2:08am Jan 16, 2011 2:08am
Quoting BrunargarFx
Good nite/morning all,

Hope you are having a good weekend.
I am reviewing my plan of action for Sunday/Monday and would appreciate any comments you may have.
I am a noob, willing to learn (so any comments welcome) and this is how I see things. Hope it will make some sense to you.

The EUR/USD bullish wave has been very impressive last week. Taking the end of week close on friday,

On the up side:[list][*]it has broken the major resistance line of 1.3431 and,[*]it remained above the DP;[*]bounced back on 1.3317 support and the ascending TL...
3 points come to mind having read your analysis:

Firstly, 30 pips is a common infraction distance through an established s/r level, designed to take out stops.

Second, Friday's price action should be viewed with suspicion, since it was coming off of a very sharp, strong rally (Weds & Thurs) and it would have been affected by pre weekend profit taking.

Third, despite the second point, it would be unwise to disregard the very obvious topping spike / pin bar seen in Friday's price action on the h4 tf...
  • #365,413
  • Jan 16, 2011 2:14am Jan 16, 2011 2:14am
Quoting mercy seat
Nice ... and therefore you copy and paste like a Tony Montana ... right from one insubstantial plastik-fantastik website (fxstreet.com) into another Tony Montana like insubstantial plastik-fantastik (FF) forum place ...

Fully overcrowded by same kind of readers and all those 'beloved' plenarily trivial and unsubstantial "experts" ... without any proof or evidence of real merits ...

That makes sense ...


Tot de volgende keer!



;-|
However, I think the Scarface anecdote does illustrate well the dangers of entering a position trade where you are trying to pick top/bottom. Notice that I make a distinction between top/bottom picking and entering a short term counter trend retrace scalp trade...
  • #365,414
  • Jan 16, 2011 2:19am Jan 16, 2011 2:19am
Quoting Honored
XE and Fxstreet showing EU at 1.3342
GL
Oh that's just typical, if by 11pm gmt we are a little lower, would have put my short in fair profit that I closed for a small loss at 9.58pm Friday night (my broker closes 10pm Fridays), but at least I can relax over the weekend and still my P&L for Friday finished comfortably in the green...
  • #365,415
  • Jan 16, 2011 2:25am Jan 16, 2011 2:25am
The US government deficit has ballooned to an all-time, eye-popping high: $14 trillion.

And what does the frightful milestone mean for the average American? A whopping historical record $45,300 for each person.

http://www.nydailynews.com/news/poli...ver_raisi.html
  • #365,416
  • Jan 16, 2011 2:45am Jan 16, 2011 2:45am
Inserted Video
  • #365,417
  • Jan 16, 2011 2:48am Jan 16, 2011 2:48am
Quoting Magix
I have always been most fond of trading through the different time frames. Catching a piece of direction where ever direction heads. I typically trade the shorter time frames, 1m/5m in favor of daily movements.

All of my charts come out looking the same, so identifying support and resistance is just a matter of clicking through the various time frames to see where we are heading next.

With the use of the daily roll over as my major s/r line, I watch to see where the next line in the sand might be. I am providing 3 charts to show you what I see...

Thanks magix , really good teaching & this time can how how all ducks come in aline to trigger the shot. many many thanks again learning this & may apply next time , exit may be opposite the trgger entry .

Well worth coming FF eu interactive thread this off time , week end. Hope all will be benefitted learning & using in real time trading.

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #365,418
  • Jan 16, 2011 3:41am Jan 16, 2011 3:41am
Quoting FibbinArchie
3 points come to mind having read your analysis:

Firstly, 30 pips is a common infraction distance through an established s/r level, designed to take out stops.

Second, Friday's price action should be viewed with suspicion, since it was coming off of a very sharp, strong rally (Weds & Thurs) and it would have been affected by pre weekend profit taking.

Third, despite the second point, it would be unwise to disregard the very obvious topping spike / pin bar seen in Friday's price action on the h4 tf...
Thanks for your response - all valid points: I've learnt something there
Thanks again
  • #365,419
  • Jan 16, 2011 3:47am Jan 16, 2011 3:47am
Quoting bodisatva
is there anybody here who could make an ea 4 me?
Try PMing 7bit

http://www.forexfactory.com/7bit

He does a lot of coding, not sure of his rates...

forexflash is another possible

http://www.forexfactory.com/forexflash

It really depends on what you're after...
  • #365,420
  • Jan 16, 2011 4:08am Jan 16, 2011 4:08am
I'm thinking it will push through 1.3400 on Monday and might find some resistance at 1.3440. If it keep pushing up we might see it go all the way to 1.3500. After that - we'll have to see...
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