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Price Action Trading with Indicators! The Freebie System

  • #1,081
  • Feb 3, 2011 5:59am Feb 3, 2011 5:59am
Quoting Fun Demental
How many got caught in the 12:30 EU breakout ?

Dredd - could that have been avoided or is this one of those losses? Is it because of big news expected today?

Note how level 3 shifted (the 'repaint' thingy) BIG time to S1 pivot below.
Hourly trend is up ans so is H4, M15's Fib S1 seem to be holding.

Trade well, fun demental
Hi Fun,
I think general tren was down... as shown by the big 3 (and smallest 2) on 1H and 4HTF....

Am I wrong Dredding?
Attached Image (click to enlarge)
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  • #1,082
  • Feb 3, 2011 6:02am Feb 3, 2011 6:02am
Quoting Fun Demental
How many got caught in the 12:30 EU breakout ?

Dredd - could that have been avoided or is this one of those losses? Is it because of big news expected today?

Note how level 3 shifted (the 'repaint' thingy) BIG time to S1 pivot below.
Hourly trend is up ans so is H4, M15's Fib S1 seem to be holding.

Trade well, fun demental
What did the M15 & H1 do? Did it make a HIGHER LOW before that "breakout"? then ask yourself that these............How did the GBP PMI come out.........DUH.....How did the Euro Retail Sales m/m come out? DUH....lol

So GBP PMI came out....What happened? GbpUsd Jumped up....What happens to EurUsd? What HAPPENED TO EurGBP?. How did the Eur report come out? -NEG (BAD) so why would EurUsd or EurGbp go up?

You have to TRUST WHAT YOU SEE NOT GUESS! AS i KEEP SAYING!!! You have can USE FA to be a good trader or TA to be a good trader but if you want to be a GREAT TRADER..YOU HAVE TO USE FA & TA together!!....YOU HAVE TO do your homework on a release that is due to COME OUT!
  • #1,083
  • Feb 3, 2011 6:09am Feb 3, 2011 6:09am
Quoting Dredding82
What did the M15 & H1 do? Did it make a HIGHER LOW before that "breakout"? then ask yourself that these............How did the GBP PMI come out.........DUH.....How did the Euro Retail Sales m/m come out? DUH....lol

So GBP PMI came out....What happened? GbpUsd Jumped up....What happens to EurUsd? What HAPPENED TO EurGBP?

You have to TRUST WHAT YOU SEE NOT GUESS! AS i KEEP SAYING!!! You have can USE FA to be a good trader or TA to be a good trader but if you want to be a GREAT TRADER..YOU HAVE...
Feeling pretty DUH at the moment
  • #1,084
  • Feb 3, 2011 6:21am Feb 3, 2011 6:21am
Quoting Dredding82
What did the M15 & H1 do? Did it make a HIGHER LOW before that "breakout"? then ask yourself that these............How did the GBP PMI come out.........DUH.....How did the Euro Retail Sales m/m come out? DUH....lol

So GBP PMI came out....What happened? GbpUsd Jumped up....What happens to EurUsd? What HAPPENED TO EurGBP?. How did the Eur report come out? -NEG (BAD) so why would EurUsd or EurGbp go up?

You have to TRUST WHAT YOU SEE NOT GUESS! AS i KEEP SAYING!!! You have can USE FA to be a good trader...

Dredding is right. There was enough info out there on those reports that pointed towards a rise in the GBP. I temporarily abandoned the system before the GBP PMI report and went long GBP/USD for a cool 50 pips thanks to FA. Watch the FA, and research, research, research...
  • #1,085
  • Feb 3, 2011 6:28am Feb 3, 2011 6:28am
Quoting prof8t
Dredding is right. There was enough info out there on those reports that pointed towards a rise in the GBP. I temporarily abandoned the system before the GBP PMI report and went long GBP/USD for a cool 50 pips thanks to FA. Watch the FA, and research, research, research...
Yuppers! but you still could have confirmed your FA with TA, if you look on the M15 GbpUsd you will see a signal that happened at about 3 hours before the report came out....and if you watched the pair right before the release....what happened? JUMPED in a flash cause every FA trader knew it was going to be a good out come and all the TA guys seen it also...then you had the limit order punks that had orders for a buy at the 1.6203 area(M1-H1 TOPS) and sells at the 1.6271 area(D1 TOP) Trading is easy once you cut out all the thinking/guessing/questioning and just trade lol

To bet the other traders....YOU HAVE TO KNOW HOW THEY TRADE....
  • #1,086
  • Feb 3, 2011 6:39am Feb 3, 2011 6:39am
Here is a pic of the past of the NEXT Report we have due out for Europe.....Do your Homework and you will know what will happen 85% of the time before the number comes out.....
Attached Image (click to enlarge)
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  • #1,087
  • Feb 3, 2011 6:39am Feb 3, 2011 6:39am
M15 EU is setting 4 long off FPS2.
  • #1,088
  • Feb 3, 2011 6:41am Feb 3, 2011 6:41am
Quoting Sorento
M15 EU is setting 4 long off FPS2.

AGAIN!!!!!! KNOW YOUR FA....It comes out in 5 mins!!!Trade if you want to but look at the past charts when the report came out!!
  • #1,089
  • Feb 3, 2011 6:43am Feb 3, 2011 6:43am
Not sure I understand how a GBP move would impact so much the EU pair a few hours later
Dredd, you talk about seeing things on the broader spectrum, which is great and cannot be underestimated. Would like to see more of your broader sense trading in combination with your presented system.

keeppipin
fun demental
  • #1,090
  • Feb 3, 2011 6:46am Feb 3, 2011 6:46am
Quoting Dredding82
Here is a pic of the past of the NEXT Report we have due out for Europe.....Do your Homework and you will know what will happen 85% of the time before the number comes out.....
Good stuff !!
  • #1,091
  • Feb 3, 2011 6:48am Feb 3, 2011 6:48am
Quoting Fun Demental
Not sure I understand how a GBP move would impact so much the EU pair a few hours later
Dredd, you talk about seeing things on the broader spectrum, which is great and cannot be underestimated. Would like to see more of your broader sense trading in combination with your presented system.

keeppipin
fun demental

WHAT ARE YOU TALKING ABOUT! the report for GBP came out and GBP jumped up when it jumped up EUR shot down! how is that hours later? only reason Eur went up before GBP PMI is because of the Eur better then forecast PMI....But GBP PMI > Eur PMI in gains...........what is hard about that? lol

What is the currency other pairs are based off of? USD!!
  • #1,092
  • Feb 3, 2011 7:15am Feb 3, 2011 7:15am
Let me put it straight, Services PMI went out at 10:30 GMT. Bar jumped up 1/4 h before that. People knew, ok. at that time EU retraced down (although they are positively correlated). but then, 2 hours later, at 12:15 GMT there was a huge bar that failed the system. This trend continues at the time I write this and I would link it to ECB and Unemployment claims being not so good (again - known to insiders...)
  • #1,093
  • Feb 3, 2011 7:22am Feb 3, 2011 7:22am
Quoting Dredding82
Here is a pic of the past of the NEXT Report we have due out for Europe.....Do your Homework and you will know what will happen 85% of the time before the number comes out.....
Sorry.... but I'm too stupid to understand what does it means.....
  • #1,094
  • Feb 3, 2011 7:25am Feb 3, 2011 7:25am
Quoting Fun Demental
Let me put it straight, Services PMI went out at 10:30 GMT. Bar jumped up 1/4 h before that. People knew, ok. at that time EU retraced down (although they are positively correlated). but then, 2 hours later, at 12:15 GMT there was a huge bar that failed the system. This trend continues at the time I write this and I would link it to ECB and Unemployment claims being not so good (again - known to insiders...)
Show a chart of what your talking about.....then i will show you WHY something happened..... I think you need to adjust your calendar to your brokers time.....
  • #1,095
  • Feb 3, 2011 7:26am Feb 3, 2011 7:26am
Quoting Aztrader2
Sorry.... but I'm too stupid to understand what does it means.....

IT has been unchanged for going on 2 YEARS! lol
  • #1,096
  • Feb 3, 2011 7:36am Feb 3, 2011 7:36am
Look what happened to the 'Heads up' Indicator .... almost 320 points shift
As I stated earlier: handle with extreme care

fun
Attached Image
  • #1,097
  • Feb 3, 2011 7:38am Feb 3, 2011 7:38am
Quoting Fun Demental
Look what happened to the 'Heads up' Indicator .... almost 320 points shift
As I stated earlier: handle with extreme care

fun

OH GOD>......once again someone that DOES NOT understand how to use an indicator!! AND DID NOT READ THE THREAD!

IT DOES NOT MEAN GO LONG WHEN IT APPEARS!! Look at the HA candles!!! Look at stoch!!

LOOK AT THE FA reports!! Watch this VIDEO! http://www.ecb.int/press/tvservices/webcast/html/webcast_110203.en.html
  • #1,098
  • Feb 3, 2011 7:48am Feb 3, 2011 7:48am
Quoting Fun Demental
Let me put it straight, Services PMI went out at 10:30 GMT. Bar jumped up 1/4 h before that. People knew, ok. at that time EU retraced down (although they are positively correlated). but then, 2 hours later, at 12:15 GMT there was a huge bar that failed the system. This trend continues at the time I write this and I would link it to ECB and Unemployment claims being not so good (again - known to insiders...)
If unemployment was NOT good for the US then EURusd would GO UP! NOT SHOOT DOWN!.......dude you really need to get your FA str8!
  • #1,099
  • Feb 3, 2011 8:02am Feb 3, 2011 8:02am
Quoting Fun Demental
Look what happened to the 'Heads up' Indicator .... almost 320 points shift
As I stated earlier: handle with extreme care

fun
As you can see on the M15 it made a LOWER LOW....THEN A LOWER HIGH!! HA confirmed!! On the H1 it made a HIGH THEN a LOW....Followed by a LOWER HIGH!......HA CONFIRMED!!

I can not make it more CLEAR or SIMPLE THEN THAT....if you dont understand.....its time to just give up trading! lol
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: euro1.gif Size: 46 KB
  • #1,100
  • Edited 10:56am Feb 3, 2011 8:18am | Edited 10:56am
Quoting Dredding82
If unemployment was NOT good for the US then EURusd would GO UP! NOT SHOOT DOWN!......
This is what I meant obviously. Bad ECB news and good UC will strengthen the move to the down side on EU.

USD PMI and Factory orders are probably in the same tone.

Dredd, It's not that I don't like your system or anything. I find it to be one of the best published on FF, actually.
I think that in such a day of massive critical news it's best not to trade unless one is proficient and experianced. Actually most systems will not work in such days!

fun
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