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Trading Major Lines

  • #681
  • Apr 5, 2011 10:20pm Apr 5, 2011 10:20pm
There was a strong bullish move in spite of NFP on Friday. I was looking for fibe levels on this move.

This time price reacted at 50% Friday range. I posted 15 mins for clarity.


TradeStar
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Haste not to Enter AND Haste not to Exit !-TradeStar
  • #682
  • Apr 5, 2011 10:57pm Apr 5, 2011 10:57pm
Quoting nomask
Hello sako..Here is a little help for you and others..
not because I believe my posts are so worth to be split from others but you can use this small software to compile anybody's posts in any thread from ff.I found this in Graeme's thread.Its what I've been looking for.
you just put the first page's adress (but it should end with &page=1)...
Hello Nomask!
I have been reading this thread for about one week now, not finished yet, but it sure is a great one.
I hate to ask you something not related to this thread, but would you please explain a bit more on how to use Hotfile as you mentioned?
I just can't figure how to use this service...
  • #683
  • Apr 6, 2011 1:25am Apr 6, 2011 1:25am
Quoting zaitech
Hello Nomask!
I have been reading this thread for about one week now, not finished yet, but it sure is a great one.
I hate to ask you something not related to this thread, but would you please explain a bit more on how to use Hotfile as you mentioned?
I just can't figure how to use this service...
click on the button named "regular download" on the link.wait until the countdown is over.then type the words in the box then click to "download file" button.

Quoting zusch
Long from 1.4220. Finally got a signal. Currently its not taking off like I would like. Will close position for small loss if it closes below my entry.

Update: Took 3 pip loss.
You made a very good entry there but should have let the price play more since your risk was only 5-6 pips.

eu gave us a signal but in out of market hours.Even fomc meeting was not able to give it a strong move up.
But later on we've had an inside candle which I covered in my earlier posts how to trade an inside bar with low risk.
charts attached.
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  • #684
  • Apr 6, 2011 1:31am Apr 6, 2011 1:31am
my last position of usdcad survived and moved to b.e
this is how it looks on the weekly.
what we achieve is "seeling on the upper wick of a candle" that we expect it to be bearish (vice versa) due to our hindsight.

this post is a summary of whole method.
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  • #685
  • Apr 6, 2011 2:06am Apr 6, 2011 2:06am
Quoting nomask
my last position of usdcad survived and moved to b.e
this is how it looks on the weekly.
what we achieve is "seeling on the upper wick of a candle" that we expect it to be bearish (vice versa) due to our hindsight.

this post is a summary of whole method.
Excellent work, Nomask.

TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #686
  • Apr 6, 2011 2:37am Apr 6, 2011 2:37am
Quoting TradeStar
Excellent work, Nomask.

TradeStar
thaks a lot tradestar
  • #687
  • Apr 6, 2011 6:11am Apr 6, 2011 6:11am
missed an opportunity to add..
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  • #688
  • Apr 6, 2011 3:50pm Apr 6, 2011 3:50pm
Nomask,
As I missed the up move, I wonder if it is safe and valid playing the last H4 cadle marked with fibs for a further move?

As per a previous question you probably missed, when you have your H4 setup candle, you spend a hard core 4 hrs monitor viewing in 5M timeframe to wait for a setup? Or how you deal to detach as much as possible from the screen?

Cheers

http://i54.tinypic.com/33msyzr.jpg
  • #689
  • Apr 7, 2011 1:41am Apr 7, 2011 1:41am
Quoting cfabian
Nomask,
As I missed the up move, I wonder if it is safe and valid playing the last H4 cadle marked with fibs for a further move?

As per a previous question you probably missed, when you have your H4 setup candle, you spend a hard core 4 hrs monitor viewing in 5M timeframe to wait for a setup? Or how you deal to detach as much as possible from the screen?

Cheers
I check my charts every 4hr then start watching it on 5min only if there is any good 4hr setup.Otherwise I log out and come back to check the next 4hr candle.
  • #690
  • Apr 7, 2011 2:15am Apr 7, 2011 2:15am
Quoting cfabian
Nomask,
As I missed the up move, I wonder if it is safe and valid playing the last H4 cadle marked with fibs for a further move?

As per a previous question you probably missed, when you have your H4 setup candle, you spend a hard core 4 hrs monitor viewing in 5M timeframe to wait for a setup? Or how you deal to detach as much as possible from the screen?

Cheers
since the next candle after the setup candle might be a pullback,its not best to play on it.
when I miss a 4hr setup I look for a new setup.
  • #691
  • Apr 7, 2011 2:34am Apr 7, 2011 2:34am
current look of eu.
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  • #692
  • Apr 7, 2011 2:36am Apr 7, 2011 2:36am
different pair,same story
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  • #693
  • Apr 7, 2011 2:42am Apr 7, 2011 2:42am
one more thing to add on "missing an entry" story..
Good example that usdcad gave us about it.
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  • #694
  • Apr 7, 2011 2:51am Apr 7, 2011 2:51am
Do not try too hard to see.
If it is not easy to see then it is not easy to trade.
If it is not easy to trade then it is not worth to trade.
If it is not worth to trade then you will be wasting/losing your money.
  • #695
  • Apr 7, 2011 2:53am Apr 7, 2011 2:53am
Quoting nomask
I did change it though.If you notice that the high of the fib has been moved to the last weeks high but after that ,price went back in the old range making the previous week in tact.

Hi, I'm new here. great thread you got here.
I want to ask something about the fibo. Is there any difference between the position of the 0 and 100%. Because sometimes i saw it 0 then going down to 100. and sometimes its 100 then going down to 0..any difference?

Another thing is, TS you draw fibo lines max 2 weeks? let's say 1st week fibo low is 1.4100 then 2nd week move up to 1.4150 then 3rd week 1.4250 low.
So the Setup weekcandle we depends on week 2 and 3 or starting from week 1? still using the low of 1.410 and not 1.4150?

Thanks..noobish question here.. Cause i want to determine the most accurate fibo lines possible, for better entry.
  • #696
  • Apr 7, 2011 4:58am Apr 7, 2011 4:58am
OMG. Emotional hurdles is hitting me!!!

EU current retracement is so strong and it's getting closer to my long position for EU @ 1.4263.

If it dies at BE later I will be very sad as I have incurred quite huge losses in establish it.
  • #697
  • Apr 7, 2011 5:16am Apr 7, 2011 5:16am
Quoting Tehni742
Hi, I'm new here. great thread you got here.
I want to ask something about the fibo. Is there any difference between the position of the...
I don't pay attention if i'm drawing it in the direction of the move.I just need to see fib levels..%0 or %100 no difference.

Don't get confused by applying fib..
the principle is that we put fib on "the setup candles"all the time..
If the week before last week setup candle is still intact yes we keep the fib on it since we do not have a more recent price action..
  • #698
  • Apr 7, 2011 5:48am Apr 7, 2011 5:48am
Quoting liangko
OMG. Emotional hurdles is hitting me!!!

EU current retracement is so strong and it's getting closer to my long position for EU @ 1.4263.

If it dies at BE later I will be very sad as I have incurred quite huge losses in establish it.
if it does die at b.e tell yourself that one day,one of them will hit +1000 pips..
But if you really spend too much on establishing a position then you should work on morea about refining your entries.
  • #699
  • Apr 7, 2011 6:11am Apr 7, 2011 6:11am
Quoting nomask
current look of eu.
I took a long here...and placed BE SL already....thanks Nomask
  • #700
  • Apr 7, 2011 6:14am Apr 7, 2011 6:14am
second short position usdcad..
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