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  • #41
  • Feb 18, 2011 11:57am Feb 18, 2011 11:57am
thank you for your attention sir
what time frame do you choose for short term(m15/m30/h1)?
did you have base form for it?
and please tell us more about exit plan?
and what do pivot point indicator do in your plan and chart?
thanks alot
thanks erfan
  • #42
  • Feb 18, 2011 1:45pm Feb 18, 2011 1:45pm
Hello Erfan,

The time frames that I use to take my signals are 15M, 30M and 1H, all three... sometimes the pattern could be formed in the hourly chart and not on the others...

All TP (take profit) orders are set 30 pips below the next LT resistance level when going long, and 30 pips above the next LT support level when going short.

HTH

Have a great weekend!
  • #43
  • Feb 18, 2011 3:43pm Feb 18, 2011 3:43pm
sorry about my more questions
i am confuse for undrestanding about signal plan trade in short term.
after recognise direction at long term we go short term and look for only significant pattern in short term for enter?(it is enough) or not?
maybe we determine pattern on S&R level at short term ,S&R is neccesary?(pattern must be on short term S&R level)
what is HOPS & LOPS?
what can i use pivot point for enter?
sorry,i am weak
thanks for your helping raul
thanks erfan
  • #44
  • Feb 18, 2011 5:43pm Feb 18, 2011 5:43pm
Hello Erfan,

At the beginning of the trading session I first determine the market condition using the long term charts, from the currency pairs that have a clear market condition, then I detrermine the possible entry levels (green lines) in the 15M, 30M and H1 charts.

HOPS and LOPS stand for High Of the Previous Session and Low Of the Previous Sessions respectively...

Take a look at the first post of this thread, it will clear up things...

And dont worry about posting questions, jut let me know if you have more...

Have a great weekend!
  • #45
  • Feb 19, 2011 3:27pm Feb 19, 2011 3:27pm
thank you for every things raul
Do you have any rules for exit position be fore touch TP in dangrous zone?
when you realize market turn in high probability,do you stay on your position or exit emergancy?
thanks erfan
  • #46
  • Feb 19, 2011 3:32pm Feb 19, 2011 3:32pm
Quoting Raul Lopez
The GBPUSD traded in a short term range for about 8 or 9 days, but earlier today it broke through the upper resistance triggering a bullish market condition:

http://www.straightforex.com/forex_b.../gbpusd371.png

I had a long signal earlier today, here are the details:

Entry: 1.6108
SL: 1.6071
TP: 1.6266

I’m risking 37 pips por the possibility to get 158, good deal ha? 4.27:1.

Trade Safe!
what is your pattern in this signal for your entering?
Attached Image
thanks erfan
  • #47
  • Feb 19, 2011 3:44pm Feb 19, 2011 3:44pm
Quoting erfan_hi
what is your pattern in this signal for your entering?
w0o0o0w
I find it in 30M
is it correct?
Attached Image (click to enlarge)
Click to Enlarge Name: 1 feb 30M.GIF Size: 10 KB
thanks erfan
  • #48
  • Feb 21, 2011 7:50am Feb 21, 2011 7:50am
Quoting erfan_hi
thank you for every things raul
Do you have any rules for exit position be fore touch TP in dangrous zone?
when you realize market turn in high probability,do you stay on your position or exit emergancy?
may i have this question?
thanks erfan
  • #49
  • Feb 21, 2011 9:14am Feb 21, 2011 9:14am
Hello Erfan,

Thats right, that's the signal I was talking about, off the 30 min charts...

I do some trade management, I keep moving my stop loss in case the market reverses, but I never close my trade unless an important announcement is due the next hours...

Sometimes I add to my position if the market is moving in my favor, etc.

But I never close my trade for reasons like: "I think the market will rever here" or "Other trader is closing his trades here", etc. Its important to have a well defined plan, but most important is to follow it...

Cheers!
  • #50
  • Feb 21, 2011 12:31pm Feb 21, 2011 12:31pm
One of the currency pairs that I like the most is the NZDUSD, I like the way it is trading in the long term charts, between two LT important levels: 0.7776 and 0.7555

Since last week that the NZDUSD is trading in a bullish market condition, it was clearly rejected from an important LT support level around 0.7555. I’m currently looking for long opportunities just where the NZDUSD is currently trading at:

http://www.straightforex.com/forex_b...2/nzdusd19.png

The next LT resistance level is around 0.7776, we have plenty of room to get a good risk-reward ratio.

Good luck!
  • #51
  • Feb 22, 2011 11:27am Feb 22, 2011 11:27am
I just got a signal to go short in the CADCHF...

The CADCHF is trading in a very clear bearish market condition, only short opportunities are in play. If you take a look at the daily chart you’ll see it is trading in a medium term range in between 0.9849 and 0.9367.

I got my signal off the 30 minute chart:

http://www.straightforex.com/forex_b...02/cadchf3.png

Here are the details of my order:

Entry: 0.9532
SL: 0.9575
TP: 0.9398

Trade Safe!
  • #52
  • Feb 23, 2011 9:30am Feb 23, 2011 9:30am
CADCHF UPDATE: TP hit, +133 pips

Just got a signal to go short in the GBPCHF, here are the details and what made me go short:

The GBPCHF is trading in a bearish market condition; yesterday it broke through an important LT support level. I was looking forward for a pullback and got it earlier this morning, it retraced back to the ST resistance level and the market formed a significant pattern with downward pressure:

http://www.straightforex.com/forex_b...2/gbpchf32.png

Here are the details of my trade:

Entry: 1.5195
SL: 1.5268
TP: 1.4460

Yes, you read that right, this trade has a 10:1 risk reward ratio, I’m risking one percent of my account and shooting for 10%. Not sure though how much time it would take the GBPCHF to get there... But I know one thing for sure, it is likely to continue its way down...

Trade Safe!
  • #53
  • Edited 10:43am Feb 23, 2011 10:19am | Edited 10:43am
[quote=Raul Lopez;4423372]

Just got a signal to go short in the GBPCHF, here are the details and what made me go short:

Hi Raul,

Would you mind sharing a screen shot of the LT Tf were you found your setup please?
You talked about the LT of yesterday being broken, is it the R1 you talked about or the 1.5355 s/r level?

Thanks,
Mel
  • #54
  • Feb 23, 2011 11:43am Feb 23, 2011 11:43am
Hello Mel,

I'm talking about the 1.5328 LT level (I dont use R1 or R2, etc). Every time the market gets close to an important LT level, it trades in a short term range (thats the reason LT S&R levels are zones rather than "levels"). Once it broke that level, it started to trade in bearish market condition.

HTH
  • #55
  • Feb 23, 2011 11:57am Feb 23, 2011 11:57am
Quoting Raul Lopez
Hello Mel,

I'm talking about the 1.5328 LT level (I dont use R1 or R2, etc). Every time the market gets close to an important LT level, it trades in a short term range (thats the reason LT S&R levels are zones rather than "levels"). Once it broke that level, it started to trade in bearish market condition.

HTH

Ok, thank you, it is the level I was lookin at, a few pips different since it's on a higher Tf.

Btw, this pair is droping fast, you could already made a nice return.
Regards,Mel
  • #56
  • Feb 23, 2011 12:13pm Feb 23, 2011 12:13pm
Hello Mel,

You are right, since we are talking about LT charts, a few pips out doesnt make a difference...

I still have my TP order toooo far away... we'll see what happens.

Regards,
  • #57
  • Feb 24, 2011 9:36am Feb 24, 2011 9:36am
GBPCHF Update: trade still running, +228

The EURNZD is trading in a bullish market condition, its pretty close to the next LT resistance level but I think we still have some room left to get a good trade here.

In the short term charts, the EURNZD retraced back to the main ST support level and formed a significant pattern with upward pressure:

http://www.straightforex.com/forex_b...02/eurnzd8.png

Here are the details of my trade:

Entry: 1.8406
SL: 1.8358
TP: 1.8555

It has a 3:1 risk reward ratio.

Trade Safe!
  • #58
  • Feb 25, 2011 1:15am Feb 25, 2011 1:15am
hello sir i must appreciate you for this super trading stly you have made available to us. sir i have an indicator that shows me hops and lops for weekly and daily sir have u seen this indicator before. and you make mention of a green line wht is that green line and how did u get them. thanks sir for always
  • #59
  • Feb 25, 2011 9:41am Feb 25, 2011 9:41am
sir also i would love it if u show examples of the candles that we are suppose to look out for i always find it difficult to identify them pls sir show me more examples. thanks and sowi for my endless questions
  • #60
  • Feb 28, 2011 10:21am Feb 28, 2011 10:21am
Hello Papoose,

Yes, I think the indicator you are talking about was created by me...

The green lines are ST S&R levels to identify possible entry levels, most of the time they are pretty close to the HOPS and LOPS levels...

Dont worry about the examples, I'll be posting here plenty of them... please take a look again to the first post (or the link in my signature) to understan more about the entry signal...

Regards,
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