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  • #2,221
  • Mar 28, 2011 2:20am Mar 28, 2011 2:20am
Quoting silversurfer
I'd like to see a pullback to circa 1.4050 and then a short confirmation - any way that's a loose trade plan and we'll just have to see what transpires
My sentiments also. I'd say that if EU manages to stays above 1.4060 it's a long and if below 1.4050 it's a short (with confirmation)

fun
  • #2,222
  • Mar 28, 2011 2:30am Mar 28, 2011 2:30am
I took this short trade just before London opening which I dont usually do because it could easily revert direction in a matter of seconds. I got lucky and managed to move my stop to BE at 5 pips from TP. Then I closed at +6 because the price had stalled for too long (as I type it's reversed and would have hit my stop). My question is: was it a legal trade, ignoring for a second it was a dangerous time? That actually looks like a ranging area
http://i51.tinypic.com/90wxdw.png
  • #2,223
  • Mar 28, 2011 2:31am Mar 28, 2011 2:31am
Quoting Fun Demental
My sentiments also. I'd say that if EU manages to stays above 1.4060 it's a long and if below 1.4050 it's a short (with confirmation)

fun
I am on the side until it breaks the channel/ tips its hand
1.4069 / 1.4044 as I see it
  • #2,224
  • Mar 28, 2011 4:47am Mar 28, 2011 4:47am
Quoting alright
I took this short trade just before London opening which I dont usually do because it could easily revert direction in a matter of seconds. I got lucky and managed to move my stop to BE at 5 pips from TP. Then I closed at +6 because the price had stalled for too long (as I type it's reversed and would have hit my stop). My question is: was it a legal trade, ignoring for a second it was a dangerous time? That actually looks like a ranging area
I had the same question, I was looking at the trade but didn't take it.

For me on my my chart is was 123 with divergence short, but I remember something about for divergences method of 123, point 3 has to come within 2.4 pips of point 1 (unlike standard 123) - or am I missing something on this?

Regards
John
Attached Image (click to enlarge)
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  • #2,225
  • Mar 28, 2011 5:07am Mar 28, 2011 5:07am
Hi guys. Good to be joining the thread. I am currently experimenting with ma of 8 and shift 0. On a lot of these charts when you guys say you dont have a valid trade, 89% of these charts would have been a gold mine for mine indicator. Patience and sound money management has netted a nice equity curve. By the way, you guys should check out emini-watch.com. The guy of the website trades with this indicator called trin, trading index indicator he has programed and is currently managing to bring in some heavy money. I am currently using some of his indicators, but am in no way promoting his site, just think you guys should check him out, and let me know what you think. Thanks
  • #2,226
  • Edited 5:45am Mar 28, 2011 5:29am | Edited 5:45am
Quoting Trinacria
Hi diamond,

I know s/r horizontal lines are the most correct references... but I want to do just an experiment. I drew the first (up) channel on february 25, the second (down) channel...

hi Trinacris and guys

as it was mentioned in later posts of this one - easier is better. not to dig into yr work, not at all. everybody chooses what to trade.
falling/rising /channels lines work but when? its the same like when div mentioned the fib....it works on those levels but which one it ll b now? yes, someone might look for conjunctions to agree with - S/R, swings, whole numbers, but then someone chooses some style after all.
from one webinar - 1-peter bain - if u fallow too many things, when do u get all lights green to go ahead?
2-Steve Nison - candlstick's father - falling/rising tl are drown differently by traders. horizontal lines are the same for everyone.

my 2 cents not on this post but rather a subject
cheers
making money in JimB2468 trading room
  • #2,227
  • Mar 28, 2011 5:33am Mar 28, 2011 5:33am
This looks to me to be a correct 123 according to divergences definition (although not standard 123 as 3 passes 1 slightly) as point 3 is within 2.4 pips of point 1

it also matches the webinar description that divergence was giving saying it tests the level, retraces, tests the level again and then down.. (unfortunately for me the audio was badly out of sync so I never got to see the actual candles he was talking about)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_div_4.gif Size: 24 KB
  • #2,228
  • Mar 28, 2011 5:41am Mar 28, 2011 5:41am
Div thank you again for sharing, and for your last webinar. Please tell me if i'm making any progress. Here's my todays trades
Attached Image (click to enlarge)
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  • #2,229
  • Mar 28, 2011 5:48am Mar 28, 2011 5:48am
Quoting vince
Div thank you again for sharing, and for your last webinar. Please tell me if i'm making any progress. Here's my todays trades
Way to go Vince ! (GBP/USD )
I believe this is exactly what Div talks about to the letter.
And you can add to that a 5 wave count.

fun
  • #2,230
  • Mar 28, 2011 5:57am Mar 28, 2011 5:57am
Quoting Fun Demental
Way to go Vince ! (GBP/USD )
I believe this is exactly what Div talks about to the letter.
And you can add to that a 5 wave count.

fun
Thanks fun, i feel like i can see the light now...hopefully...
  • #2,231
  • Mar 28, 2011 6:08am Mar 28, 2011 6:08am
If you entered on the dashed line, CCI wasn't past the -50 yet. I have it at only -24.
Quoting alright
I took this short trade just before London opening which I dont usually do because it could easily revert direction in a matter of seconds. I got lucky and managed to move my stop to BE at 5 pips from TP. Then I closed at +6 because the price had stalled for too long (as I type it's reversed and would have hit my stop). My question is: was it a legal trade, ignoring for a second it was a dangerous time? That actually looks like a ranging area
http://i51.tinypic.com/90wxdw.png
  • #2,232
  • Mar 28, 2011 6:15am Mar 28, 2011 6:15am
Here's where I have my significant levels drawn. Bold lines more sig., dashed lines less sig. So I'm thinking shorts until the 4150 area.
Attached Image (click to enlarge)
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  • #2,233
  • Mar 28, 2011 6:30am Mar 28, 2011 6:30am
Quoting Toothman
If you entered on the dashed line, CCI wasn't past the -50 yet. I have it at only -24.
Watch the indicator in real time, the next bar is forming during the 5-minutes, it was probably red shortly after opening, if you know what I mean..... but I agree, with you, probably jumped the gun!
Canadian by birth Australian by choice
  • #2,234
  • Mar 28, 2011 7:07am Mar 28, 2011 7:07am
By the way, you guys should check out emini-watch.com. The guy of the website trades with this indicator called trin, trading index indicator he has programed and is currently managing to bring in some heavy money.

thanks for the info. if the TRIN indic is free just post it here. We'll all appreciate.
Thanks again
  • #2,235
  • Mar 28, 2011 7:09am Mar 28, 2011 7:09am
Quoting TheSnowman
Watch the indicator in real time, the next bar is forming during the 5-minutes, it was probably red shortly after opening, if you know what I mean..... but I agree, with you, probably jumped the gun!
We're waiting until candle close for entries remember.
  • #2,236
  • Mar 28, 2011 7:13am Mar 28, 2011 7:13am
Quoting whet412
Hi guys. Good to be joining the thread. I am currently experimenting with ma of 8 and shift 0. On a lot of these charts when you guys say you dont have a valid trade, 89% of these charts would have been a gold mine for mine indicator. Patience and sound money management has netted...
thanks for the info. if the TRIN indic is free just post it here. We'll all appreciate.
Thanks again
  • #2,237
  • Mar 28, 2011 7:15am Mar 28, 2011 7:15am
Hi Ataviano

I may be wrong but the only indicators we should have on our charts for trading this method is SMA 10 (Median), CCI 8, RSI 8 (or equivalents)

This is not a method for excessive indicators
Regards
John


Quoting ataviano
By the way, you guys should check out emini-watch.com. The guy of the website trades with this indicator called trin, trading index indicator he has programed and is currently managing to bring in some heavy money.

thanks for the info. if the TRIN indic is free just post it here. We'll all appreciate.
Thanks again
  • #2,238
  • Mar 28, 2011 7:27am Mar 28, 2011 7:27am
Hey guys i'm sorry about those posts, it was my younger brother messing things up. I rarely post.

Thanks and sorry again
  • #2,239
  • Mar 28, 2011 7:29am Mar 28, 2011 7:29am
Quoting jmw1970
This looks to me to be a correct 123 according to divergences definition (although not standard 123 as 3 passes 1 slightly) as point 3 is within 2.4 pips of point 1

it also matches the webinar description that divergence was giving saying it tests the level, retraces, tests the level again and then down.. (unfortunately for me the audio was badly out of sync so I never got to see the actual candles he was talking about)
Bottom line: with a 123 set-up the 2.4 pips comes into play with POINT #2. Not point #3. The set-up bar has to be within 2.4 pips of the #2 or take it out completely.

I have it written down twice the same from two different webinars and from this thread. If you have something different. Let me know. I am not an expert on the 123 set-ups. I am just going off of my notes. I don't trade those right now anyway.
  • #2,240
  • Mar 28, 2011 7:30am Mar 28, 2011 7:30am
hey vince brilliant trading you caught the trend down and the div 123 counter trend up thats a bullseye
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