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  • #781
  • Feb 8, 2011 3:08am Feb 8, 2011 3:08am
So 6133 is broken on cable, shorts are now viable. EU longs are now invalid and now shorts are coming into play if 15min trend forms of course. This is my analysis on these pairs for scalping......
Trade the price action, not the cash!!!
  • #782
  • Feb 8, 2011 3:17am Feb 8, 2011 3:17am
Quoting imran84
can anyone xplain this please


70% of Take profit at ½ Stop loss value 30% at 3 EMA crossing up through
13 EMA (on 5m chart).?
Find your stop loss, say 50 take 1/2 of that as 25 for first profit where you take 70%, leave 30% to run until emas cross, on lower time frame then close
  • #783
  • Feb 8, 2011 3:25am Feb 8, 2011 3:25am
So now if a lower low forms on Cable i still will not take a short trade due to it being too close to 6088/6080 and a little further down, 6065. These levels could cause it to bounce somewhat. However EU short lower lows are valid for me. Will take profit around 3575-ish. Waiting for lower low to form then will enter.
Trade the price action, not the cash!!!
  • #784
  • Edited 3:35am Feb 8, 2011 3:25am | Edited 3:35am
Quoting Scullmeister
If Cable breaks 1.6133 and the intraday trend begins to form on the 15min chart, then a short may be viable depending on PA of course and if it breaks lower lows. We will see................

Also EU is looking good for a buy, but for me it must break above 13660 to be viable. Good luck with your trading.

Just my opinion.

They look like my daily fib pivpoints.

By the way: I would not recommend to trade just before London open!!! That trade was a loser, becuase London opened half an hour later. I am not trying to find a reason for a loss as to seem like I know why it went that way: I have my personal rule not to trade before L open. Let it open. Let the trend show itself, let it develop, then look for a trade.

http://www.forexmarkethours.com/ I am pretty sure you know that page, select your Time Zone
I found a penny today. That's +100 pips for me.
  • #785
  • Feb 8, 2011 3:27am Feb 8, 2011 3:27am
Nice set up on GU
Attached Image (click to enlarge)
Click to Enlarge Name: 8febGU.JPG Size: 70 KB
  • #786
  • Feb 8, 2011 3:31am Feb 8, 2011 3:31am
Quoting ReaM
They look like my daily fib pivpoints.

By the way: I would not recommend to trade just before London open!!! That trade was a loser, becuase London opened half an hour later. My am not trying to find a reason for a loss as to seem like I know why it went that way: I have my personal rule not tu trade before L open. Let it open. Let the trend show itself, let it develop, then look for a trade.

http://www.forexmarkethours.com/ I am pretty sure you know that page, select your Time Zone
I agree 100%. By the way, which trade was a loser?
Trade the price action, not the cash!!!
  • #787
  • Feb 8, 2011 3:36am Feb 8, 2011 3:36am
Quoting Scullmeister
I agree 100%. By the way, which trade was a loser?
Yes, I wait now for London to settle but still not sure which way to go, only looking at Cable & EU
  • #788
  • Feb 8, 2011 3:36am Feb 8, 2011 3:36am
http://www.forexfactory.com/showpost...&postcount=772

This one.

On Hourly chart or M5 squeezed it looks like it can bounce (both EU and GU), so, no downtrend for me yet! Well, if recent low will be broken, it will be
I found a penny today. That's +100 pips for me.
  • #789
  • Feb 8, 2011 3:37am Feb 8, 2011 3:37am
Quoting ReaM
http://www.forexfactory.com/showpost...&postcount=772

This one.

On Hourly chart or M5 squeezed it looks like it can bounce (both EU and GU), so, no downtrend for me yet!
Ah yes, thanks.
Trade the price action, not the cash!!!
  • #790
  • Feb 8, 2011 3:41am Feb 8, 2011 3:41am
Quoting forex1962
Yes, I wait now for London to settle but still not sure which way to go, only looking at Cable & EU
Cable shorts are the only way valid for me at the moment, but because the low has formed right near yesterdays lows i wont be going near it. The probability of it bouncing is reasonably med/high. It is also right near support, so be careful of entering Cable shorts at this particular low.

I will enter short EU when/if it reaches 3587-ish depending on PA near that level, targeting 3575-ish, but trailing SL to maximize the trade. We will see what happens............
Trade the price action, not the cash!!!
  • #791
  • Feb 8, 2011 3:42am Feb 8, 2011 3:42am
Quoting Scullmeister
Ah yes, thanks.
I'm looking at 15/1 seems more reliable than 5/15
  • #792
  • Feb 8, 2011 3:44am Feb 8, 2011 3:44am
Quoting Scullmeister
Cable shorts are the only way valid for me at the moment, but because the low has formed right near yesterdays lows i wont be going near it. The probability of it bouncing is reasonably med/high. It is also right near support, so be careful of entering Cable shorts at this particular low.

I will enter short EU when/if it reaches 3587-ish depending on PA near that level, targeting 3575-ish, but trailing SL to maximize the trade. We will see what happens............
Wouldn't it be safer to enter after the pivot around 3573
  • #793
  • Feb 8, 2011 3:46am Feb 8, 2011 3:46am
Can someone link me the last version of ferrufx hHlL indicator?? Thanks !

Found http://www.forexfactory.com/showpost.php?p=4377190

and original http://www.forexfactory.com/showpost.php?p=4371424
I found a penny today. That's +100 pips for me.
  • #794
  • Feb 8, 2011 3:47am Feb 8, 2011 3:47am
Quoting ReaM
Can someone link me the last version of ferrufx hHlL indicator?? Thanks !
Here you go
Attached File(s)
File Type: ex4 hhLhhllHll_alert_v3.ex4   9 KB | 491 downloads
  • #795
  • Feb 8, 2011 3:49am Feb 8, 2011 3:49am
Quoting forex1962
Wouldn't it be safer to enter after the pivot around 3573
Of course yes, however i will enter if it breaks the low and take profit at pivot, then i am done for the day. We will see.
Trade the price action, not the cash!!!
  • #796
  • Feb 8, 2011 3:57am Feb 8, 2011 3:57am
Quoting forex1962
Here you go
thanks!
I found a penny today. That's +100 pips for me.
  • #797
  • Feb 8, 2011 3:58am Feb 8, 2011 3:58am
...as pivots have been mentioned and Cubby has decided to take a backseat, in my opinion as a daytrader, ignore them at your peril...the big dogs use 'em.

This is probably the best active pivot thread on FF:

http://www.forexfactory.com/showthread.php?t=98028
  • #798
  • Feb 8, 2011 4:07am Feb 8, 2011 4:07am
Quoting sidefx
...as pivots have been mentioned and Cubby has decided to take a backseat, in my opinion as a daytrader, ignore them at your peril...the big dogs use 'em.

This is probably the best active pivot thread on FF:

http://www.forexfactory.com/showthread.php?t=98028
I was thinking that, I'm using camarilla seems a good refernce point
Attached Image (click to enlarge)
Click to Enlarge Name: camarilla.gif Size: 31 KB
  • #799
  • Feb 8, 2011 4:16am Feb 8, 2011 4:16am
Until now there were no valid set ups since London open
I found a penny today. That's +100 pips for me.
  • #800
  • Feb 8, 2011 4:18am Feb 8, 2011 4:18am
Quoting Jfr
I have read the entire thread so I totally understand the system. However my first three trades on this system have all been losses!

All GBPUSD on 5m/15m
Trade 1: 16:35 7th Feb Long 1.6127 SL 1.6100 TP 1.6141
Trade 2: 17:15 7th Feb Short 1.6102 SL 1.6119 TP 1.6093
Trade 3: 07:25 8th Feb Long 1.6162 SL 1.6139 TP 1.6173

All set ups fitted the rules as far as I can tell. Any thoughts as I find it odd i've beaten Cubby's losing streak of 2 trades in one go!?

Trade 2 was very close.
Do yourself a favour have a look at your charts (I haven't looked at yours by the way) and look for obvious SR areas that you were bumping up against, have a look at time of day and whether price struggles then in general, have a look at whether you are getting in on the 1st trade in move or the 2nd, 3rd or even worse 4th, have a look how far you are from ATR. Each trade in run makes risk of failure higher.

Cubby is a star but IMHO I'll differ with him on taking every set up. All set ups are not equal. The first set up in a session (London, US) is best. Every entry in a run after that will always be higher risk.
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