On My Way To The Top

Very good I'm pleased to hear that and very impressed would you please post a chart so me and everyone else can see..thanks...


Paul

USD/YEN

Chart 1 - Scaling in further
Chart 2 - The 15 minute Gann flip

Its amazing how the eur usd behaves in price patterns that can give such a good heads up....I say this in reference to the consolidation boxes on the one hour chart and the break out moves that happens...this is something I've seen on thr eur time and time again...very interesting but all just gives a heads up as to what to expect and what signals to look for when deciding entry according to rules...will post picture when I get the chance...I believe its something like a flag continuation pattern or pennant or something of that nature...anyone is welcome to elaborate on this...

So the Eur Usd reacted at the prz sone just as I thought and was rejected quite aggresively showing beautiful short entries...will be posting short examples when I get back to the computer..

In this pic one can clearly see how I trad e and what I look for in a trade. In a sense I suppose I could have a little check list before entering or I suppose in a sense I do have a check list but in this pic we can clearly see where momentum is slowing with major clear divergence into reversal area which is prime for looking for shorts and than we have tests and fails to break and close above the fib pivot and we have our 5 building a short with lower peaks and price making a lower high we could have taken entry off the fail of the fib pivot with the 5 making the lower high but but the hourly is still overbought along with the 30 we see on the next hourly close the hour closes below 80 and is heading down and so with the hourly heading down we dont have to wait on the 30 but the 5 is turned up goes up above 50 level which is good and than turns down on the next 30 minute close with 30 crossed down below 80 and we have our ideal entry with another instance of slight bearish continuation divergence...and with the stoch rope we can see that the ltf stochs are converged with the htf stochs heading down and towards the rope wall...and than we can see another area to add to the position with all the same entry rules met...and this just happens over and over as this being what I look for in my entries and exits...

hi pmullin86,

May I ask what Time Zone do your Charts use?

Thanks.

ibfx is gmt+5...

Thanks

Your welcome

You did a great job from what I've seen so far!
Had to go through this Rope theory as I skipped it during Spud's thread. It's still a bid of an Acid thing but I see it can provide you with valuable information.
The OsMA idea looks like a good thing to employ as well. You can also check much from the Divergence from Stochastics!
I will make the setup so I can see some more of this Rope thing in the past along with the strategy..

Good luck for the day!

Stochastic Rope..
..or lower time frame stochastics must be converging with stochastic wall
(14,3,3)

In Example1.gif the opposite is taking place but I think you took the trade as valid because they all point in the same direction so nicely!?

Hey thanks for checking me out and everything and its nice that you like what I'm doing here. I like this because it tells me so many different parts of the story. You mention the stochastic divergence which I do use stochastics to pick up divergence as I match it up with the divergence provided on the osma and sometimes the stochs pick up slight divergence otherwise not noted by the osma. I actually haven't posted in here in a couple of days as I have been extremely busy working on some other things but I'm going to be posting entries from the past few days for my own reference and anyone else who may be interested in seeing a little bit more on this... but its nice to see your well again and back on here so just look for some more post examples a little later this afternoon...

Good trading to all

Paul

I looked at that pic and the one entry that was being illustrated with the red arrow is the only entry in which the ltf stochastics are converged with the wall and the higher time frame stochs are heading in the same direction and in the process of converging with the wall to make a nice smooth move...but this is just another tool or piece of the story to help get the whole idea of what's going on with the price at that particular time...

Very well said!

Notice the situation on the GBP just moments away. Besides the pending news it was a nice setup for a trade as well! Didnt check all other paramet you're using though..
I took 'm by the horns; nice pipping!

Nice Divergence on the OsMA; nice Rope as well and all Stochastics down!!

Beautiful my friend...you've got it down perfectly...thanks for posting that...its a perfect example of a trade entry...all checklist rules met...keep it up man...

I was hoping you would be in as well!?

You should throw some fib pivots or something on there as levels to trade from like where price can have a place to have its back against kind of like a floor or roof if that makes any sense...I noticed in your pic in spuds predictive stochs thread you had what looked like fibs up...so if those were in fact fibs than those work just as beautifully...

Nope I am working towards trading full time but have to first get my trading capital up to a point where I can sustain and actually live off my earnings while being able to compound and build up my account so I have a full time job as well so for the most part am only able to trade the london session and only watch the potential set ups as they happen throughout the rest of the day.

Is that not very early at your place