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FOREX Market Reversal Levels

  • #161
  • Edited Jan 14, 2011 1:56pm Jan 13, 2011 6:55pm | Edited Jan 14, 2011 1:56pm
Hi Andrewkin,

Thanks a lot for yor kindly words.

Yesterday I took an usd buy at 1.31279 and sell at 1.3200, around 72 pips,
and the move continue to go up for another 182 pips.

Same with eurjpy, took a trade in the middle of the movement for around 27 pips and the move continues go up for another 78 pips.

The problem that I have at this moment is to be able to stay at the pc at the right moment to take the trades.

I am trying to apply the principles outlined in post number 11 due to the high effectiveness of this math calculations.




best


Hernando

Quoting Andrewkin
Hi Hernando,

Congratulations and well done.

You are right to learn from Old Dog.

We wish you great future success trading.

Andrew
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  • #162
  • Jan 13, 2011 9:55pm Jan 13, 2011 9:55pm
Quoting Andrewkin
Hi jgadefelth,

Really suggest you look at the Candlestick PA Primers HERE (http://www.nysco.co.uk).

Andrew
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Yes and what will that subscribtion do ? please explain some more ?

best regards
  • #163
  • Jan 14, 2011 2:47am Jan 14, 2011 2:47am
Quoting jgadefelth
Yes and what will that subscribtion do ? please explain some more ?

best regards
Hi jgadefelth,

No, not the subscription.

Save your money.

Only trade demo accounts.

You are not yet able to use our FMRL numbers.

Get the download zip file with the FREE primers.

They contain the answers to all your questions.

Andrew
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  • #164
  • Jan 14, 2011 6:51am Jan 14, 2011 6:51am
Our comments are offered with humility as we are not expert traders.


EURUSD

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Yesterday, we reported an UNSAFE trade worth 290 pips.

It was UNSAFE because, although close, it didn’t touch M-2.

Experienced traders would have taken the trade.

They would see the trend continuing after a small retrace.

Understanding trends and retraces is an essential trading skill.

Novice traders are urged to watch and learn from expert traders.

A good FREE introduction to Price Action (PA) knowledge can be found HERE (http://www.nysco.co.uk).


USDJPY

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In the first week of 2011 the USDJPY was long (moved up) 230 pips.

Since then it has ranged (oscillated) around 115 pips on the M+2 level.

Novice traders beware.

The USDJPY is not a technical pair.

It is manipulated by the Bank of Japan and others.

USDJPY is very likely to make a big move in the near future.

But it is very difficult for retail traders to know which way it will go.


USDCAD

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We say moves are SAFE if they happen in the same day.

Traders who understand PA trade across day boundaries.

They follow the information in the PA.

If the PA heads into a retrace you can take the profit not lose it.


Hope these comments help.

Andrew
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  • #165
  • Jan 14, 2011 11:37am Jan 14, 2011 11:37am
Hi Andrewkin,

I just came to your thread by accident and I downloaded your levels and attached them to my charts.

I have to say that they are pretty amazing. On some of your weekly numbers, price just reverse to the PIP!

I tend to agree with Old Dog on the fact that, one of the best strategy, is to wait for the re-test of the singular level: Bout, Re-Test, New Move. The same strategy applies to: Test of Level, Pull Back, Bout.
Working on PA around these lines is also a quite effective strategy, just waiting for the formation of a reversal bar especially: Pinbars, Outside Bars, etc.

I have to say that I would really be interested in knowing more details on the calculation but I understand you are not going to share it. LOL.

Anyway thank you for sharing them with us and congratulations on your work.
Cheers
Ogeid
  • #166
  • Jan 14, 2011 12:05pm Jan 14, 2011 12:05pm
Quoting ogeid
Hi Andrewkin,

I just came to your thread by accident and I downloaded your levels and attached them to my charts.

I have to say that they are pretty amazing. On some of your weekly numbers, price just reverse to the PIP!

I tend to agree...
Hi Ogeid,

Thanks you for your kind words.

Delighted FMRL works for you as well.

Andrew
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  • #167
  • Jan 14, 2011 12:15pm Jan 14, 2011 12:15pm
You will be able to get next week's FREE FMRL numbers HERE (http://www.nysco.co.uk/aj78pz144dgf098bnme23gak-17JAN2011-21JAN2011.html)soon after market open.

EURUSD - SAFE 140 pips

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GBPUSD

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EURJPY

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USDJPY

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USDCHF - SAFE 40 pips

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USDCAD - SAFE 150 pips

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AUDUSD - SAFE 100 pips

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  • #168
  • Jan 14, 2011 12:46pm Jan 14, 2011 12:46pm
We hope our work contributed to your success last week.

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FREE FMRL numbers for next week will be HERE (http://www.nysco.co.uk/aj78pz144dgf098bnme23gak-17JAN2011-21JAN2011.html)soon after market open.

Best wishes,

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Andrew
  • #169
  • Jan 15, 2011 12:53pm Jan 15, 2011 12:53pm
Hi Andrew,

Thanks for the free numbers, I have been back testing them and found them to be amazingly accurate!

I am looking forward to forward testing for the rest of the month. Agree with others in that 20GBP would be a fair price for the numbers at this stage.

In case it helps anyone here, I found this PDF 'poster' which highlights some candle patterns which may be useful in using FMRL.

www.yourtradingcoach.com/products/ebooks/candlestick-poster-v2.pdf (http://www.yourtradingcoach.com/products/ebooks/candlestick-poster-v2.pdf)

Cheers

B
  • #170
  • Jan 15, 2011 3:30pm Jan 15, 2011 3:30pm
Quoting beachjunkie
Hi Andrew,

Thanks for the free numbers, I have been back testing them and found them to be amazingly accurate!

I am looking forward to forward testing for the rest of the month. Agree with others in that 20GBP would be a fair price for the numbers at this stage.

In case it helps anyone here, I found this PDF 'poster' which highlights some candle patterns which may be useful in using FMRL.

www.yourtradingcoach.com/products/ebooks/candlestick-poster-v2.pdf (http://www.yourtradingcoach.com/products/ebooks/candlestick-poster-v2.pdf)...

Yes maybe the lines are verry accurate but how do u trade them? I dont see when andrew say safe 200 pips for example it is from the highest line to the lowest regarding of candlestick patterns. It is always the maximum pips that can be made. sometimes it goes down thrue 2 lines and goes back to line 1 and then continues down he dont get out, but are still in the trade ?


i really dont get this it is like he always show the maximum pips that can be made?


maybe we shall disregard that and just take the trade from one line to the first next line or amybe move a stoploss to the closets line trailing sort of ?
  • #171
  • Jan 16, 2011 5:53am Jan 16, 2011 5:53am
Quoting beachjunkie
Hi Andrew,

Thanks for the free numbers, I have been back testing them and found them to be amazingly accurate!

I am looking forward to forward testing for the rest of the month. Agree with others in that 20GBP would be a fair price for the numbers at this stage.

In case it helps anyone here, I found this PDF 'poster' which highlights some candle patterns which may be useful in using FMRL.

www.yourtradingcoach.com/products/ebooks/candlestick-poster-v2.pdf (http://www.yourtradingcoach.com/products/ebooks/candlestick-poster-v2.pdf)...
Hi B,

Thanks for your positive post and link.

Any help for novices is appreciated.

Yes, GBP20 seems to be the right price.

Good luck froward testing FMRL over the next fortnight.

Andrew
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  • #172
  • Jan 16, 2011 6:19am Jan 16, 2011 6:19am
Quoting jgadefelth
Yes maybe the lines are verry accurate but how do u...
Hi jgadefelth,

You are in the right place.

FF is probably the best place in the world to learn trading.

It is full of questions and helpful answers from expert traders.

There are many different approaches and trading systems.

There is no one right way.

Most of them work for experts.

None of them work for novice traders.

You have to learn, trade and experiment.

Then you will find a way of trading that works for you.

There are no short-cuts.

Start by understanding price action.

Then you will know how to use FMRL.

Until then, only trade demo accounts.

Do not use real money.

Do not buy FMRL numbers until you know how to use them.

With effort you will become good enough to make your fortune.

Good luck,

Andrew
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  • #173
  • Jan 16, 2011 6:23am Jan 16, 2011 6:23am
thank you andrew,traded eu ej this week on 1hour tf confirming exit entrys on 15m tf close above/below your levels.very good week for me indeed
student
  • #174
  • Jan 16, 2011 6:37am Jan 16, 2011 6:37am
Quoting garrye
thank you andrew,traded eu ej this week on 1hour tf confirming exit entrys on 15m tf close above/below your levels.very good week for me indeed
Hi garrye,

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DELIGHTED FOR YOU.

Andrew
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  • #175
  • Jan 16, 2011 11:56am Jan 16, 2011 11:56am
Please all other traders tell me how you use the lines, how you trade them ?

best regards
  • #176
  • Jan 16, 2011 2:53pm Jan 16, 2011 2:53pm
Quoting jgadefelth
Please all other traders tell me how you use the lines, how you trade them ?

best regards
Hello again jgadefelth.

Suggest you start here (http://www.babypips.com/school/).

And look at the other Forex Fatory threads.

FMRL will not help you until you understand trading.

Andrew
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  • #177
  • Jan 16, 2011 4:36pm Jan 16, 2011 4:36pm
The new numbers will be HERE (http://www.nysco.co.uk/aj78pz144dgf098bnme23gak-17JAN2011-21JAN2011.html)within 90 minutes of market open.

Andrew
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  • #178
  • Jan 17, 2011 5:39am Jan 17, 2011 5:39am
well all my toys have been taken off my charts all i have is andrews levels and watch price,keep it simple traded eu,ej again today and made more than i do on a great week,old dog is right we are onto a great thing here(why did i never ever think to trade this way before)as the great dr joe said keep buying as it goes up,sell when it goes down.will record my% roi at the end of the month,should be the best ive had in a few years.thank you andrew for helping see the light
student
  • #179
  • Jan 17, 2011 6:15am Jan 17, 2011 6:15am
Quoting garrye
well all my toys have been taken off my charts all i have is andrews levels and watch price,keep it simple traded eu,ej again today and made more than i do on a great week,old dog is right we are onto a great thing here(why did i never ever think to trade this way before)as the great dr joe said keep buying as it goes up,sell when it goes down.will record my% roi at the end of the month,should be the best ive had in a few years.thank you andrew for helping see the light
Garrye
What would you do when this service is no longer available. Put back your toys and start losing money?

Can you Ans this?
Cheers
  • #180
  • Jan 17, 2011 6:33am Jan 17, 2011 6:33am
Quoting garrye
well all my toys have been taken off my charts all i have is andrews levels and watch price,keep it simple traded eu,ej again today and made more than i do on a great week,old dog is right we are onto a great thing here(why did i never ever think to trade this way before)as the great dr joe said keep buying as it goes up,sell when it goes down.will record my% roi at the end of the month,should be the best ive had in a few years.thank you andrew for helping see the light
Here's a new toy for you. An amateur programmer who would rather remain anonymous has adapted an indicator to enter Andrews' SR levels. He authorized me to post it here, but adding the following msg:

"If I knew what I was doing it would be a subroutine, and have an alarm on it.
And also I think if it was modded to be an EA then it could use a settings file, then could make a simple vbscript file to extract the data from Andrew's page when he posts it, and auto write the settings file.
(It would not be a real EA - it would be the same code. It's just that you can't use a settings file with these indicators and so you need to mod either the MQ4 or else mod the settings in either the template or profile - which are both text files)."

The values entered in this indicator are the Eur/Usd for this month and week, but they can be edited for other pairs and values. Enjoy.
Attached File(s)
File Type: mq4 WeeklyPivot with overide RF.mq4   5 KB | 313 downloads
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