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  • #4,741
  • Apr 11, 2011 5:48am Apr 11, 2011 5:48am
Hmm any trades to share guys?Really gutted over missing a huge constrainment on EUR/GBP...if anyone has tips on keeping tabs on multiple pairs would you kindly share please

Just closed this trade on GU for +10...sort of a failed 35 plus ping pong. I probably shouldn't have taken the 35 considering how strongly the candles were moving, plus a bit of experience also tells me that PA tends to touch HTF MAs when they are close, so I really had a bit of luck on this one
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  • #4,742
  • Apr 11, 2011 5:58am Apr 11, 2011 5:58am
Quoting natnimrey
Hmm any trades to share guys?Really gutted over missing a huge constrainment on EUR/GBP...if anyone has tips on keeping tabs on multiple pairs would you kindly share please

Just closed this trade on GU for +10...sort of a failed 35 plus ping pong. I probably shouldn't have taken the 35 considering how strongly the candles were moving, plus a bit of experience also tells me that PA tends to touch HTF MAs when they are close, so I really had a bit of luck on this one
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i took the same trade as you, but was stopped out
  • #4,743
  • Apr 11, 2011 8:04am Apr 11, 2011 8:04am
Quoting AndreyBecker
i took the same trade as you, but was stopped out

Very difficult as there is HTF "interference" in there.... H4 10 is there and the actual trade was off the H1 35 but it was H1 35/50 ping pong, which is plain as the nose on your face..... in hindsight anyway, and seeing I don't have hindsight before the event, I got hit as well. LOL.

Great day, I've just spent a couple of hours trying to get a second network card going in a Linux server I'm building, tearing my hair out because the system couldn't see it, then tried it in another machine, and guess what? It's a brand new DOA! Aaargh! Days like this I think of going abseiling without a rope!
  • #4,744
  • Apr 11, 2011 8:20am Apr 11, 2011 8:20am
I didn't think there were many clear signals last week. I hope this week isn't the same, but it looks the same so far.
  • #4,745
  • Apr 11, 2011 8:24am Apr 11, 2011 8:24am
Very bad day! The most important thing here I think is to leanr to identify days like this as early as possible!

Regards
Iero
You are allowed to fall but you are imposed to get up!
  • #4,746
  • Apr 11, 2011 8:50am Apr 11, 2011 8:50am
Seems my luck ran out completely...stopped out on EU HTF MA trade. By just 3 pips...dammit Hope you guys bagged it.

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GU is having a huge spurt tho...potential touch trades abound
  • #4,747
  • Apr 11, 2011 9:01am Apr 11, 2011 9:01am
Quoting iero4
Very bad day! The most important thing here I think is to leanr to identify days like this as early as possible!

Regards
Iero
On these kind of days, when price under or over shoots ma's, or when it takes more than two bars, it's important to wait for PA confirmation; or just skip the trade altogether if you're not comfortable. The market will eventually settle down and give good signals again; may as well preserve your capital until the money starts flowing to us, and not away.
  • #4,748
  • Apr 11, 2011 9:21am Apr 11, 2011 9:21am
Is it a long trade with the touch of the 50 ema on the M15?
  • #4,749
  • Edited 9:57am Apr 11, 2011 9:46am | Edited 9:57am
Quoting iero4
Very bad day! The most important thing here I think is to leanr to identify days like this as early as possible!

Regards
Iero
The simple way of identifying it, is to look at the different TFs. You have the M15 going short and the HTFs sitting just below it. That means dancing a waltz and rock'n'roll on the same floor... collisions are inevitable. I have the MTF MAs on my chart for this reason.... looks ugly, but works.

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During these times, from what I have observed, it appears that bounces off various levels are the only way to trade it as the standard Dance has problems (MA soup of sorts).

The problem is picking which MA/Pivot/RN or confluence will produce a reversal, even in the short term, and which will only cause a brief interruption, with PA that fakes the reversal then reverts and continues, breaking the MA/Pivot/RN/SR whatever to take the trade out.

Those who are experienced, like Kostas, seem to be able to do this.

Others try and get it wrong.

In saying that, I just missed by about 30 seconds, a great touch on the GU! (Wasn't pretty with the messy bars before it, but I would have given it a shot if I'd been at the computer).
  • #4,750
  • Apr 11, 2011 12:06pm Apr 11, 2011 12:06pm
Quoting iero4
Very bad day! The most important thing here I think is to leanr to identify days like this as early as possible!

Regards
Iero
Then maybe I'm making progress? I watched the 35/50 bounce trade and let it go by because there was no M5 confirmation candle to my liking. I then saw that we were going into ping pong on the H1, which I don't trade yet, and that it would take forever to get to a decent set-up, so I bailed for the night and got some sleep.
  • #4,751
  • Apr 11, 2011 12:34pm Apr 11, 2011 12:34pm
Quoting bigtent
The simple way of identifying it, is to look at the different TFs. You have the M15 going short and the HTFs sitting just below it. That means dancing a waltz and rock'n'roll on the same floor... collisions are inevitable. I have the MTF MAs on my chart for this reason.... looks ugly, but works.

Attachment

During these times, from what I have observed, it appears that bounces off various levels are the only way to trade it as the standard Dance has problems (MA soup of sorts).

The problem is picking which MA/Pivot/RN or confluence...
I'm assuming this is the touch you are talking about. It looks like the only decent trade of the day, but I don't think I would have taken it. The price action is very bullish with a hanging man, followed by a shooting star. On top of that, the shooting star bounced off a round number, and the three bar stall is right at my Daily R1 and Thursday's high.

I need to start keeping track at how often this sort of set-up works. I've seen it fail more than other 10 Touch trades, but that doesn't mean that it's not worth taking. I've really been trying to focus only on the best trades, but recently those seem to be few and far between. (Actually, they seem to happen about 30-45 minutes before I get to the computer.)
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  • #4,752
  • Apr 11, 2011 6:21pm Apr 11, 2011 6:21pm
Asos and isengoz: Both those scripts work great! Asos, I think you are right about the lot size possible causing the problem, but now they all seem to work no matter what. Thanks guys!
Luck occurs when preparation meets with opportunity.
  • #4,753
  • Apr 12, 2011 2:32am Apr 12, 2011 2:32am
i took this trade on gbp/usd: m15 - touch of the 35/50 in confluence with h1 - 10/50 and the pin bar on m5... the one bad thing was the momentum bar on the m15... i was stopped out
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  • #4,754
  • Apr 12, 2011 2:34am Apr 12, 2011 2:34am
I took the first touch of EU 35/50 but was stopped out. Wasn't it a good (by the rules) entry? Any comments please?

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Edit: Is it because it is only one bar touch?
You are allowed to fall but you are imposed to get up!
  • #4,755
  • Apr 12, 2011 2:36am Apr 12, 2011 2:36am
Quoting iero4
I took the first touch of EU 35/50 but was stopped out. Wasn't it a good (by the rules) entry? Any comments please?

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we took the same, look at my last post
  • #4,756
  • Apr 12, 2011 2:48am Apr 12, 2011 2:48am
Quoting iero4
I took the first touch of EU 35/50 but was stopped out. Wasn't it a good (by the rules) entry? Any comments please?

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Edit: Is it because it is only one bar touch?
There was no new low when price started moving back up quickly. This strongly indicates to me that the move is now long.
  • #4,757
  • Apr 12, 2011 2:50am Apr 12, 2011 2:50am
Quoting AndreyBecker
we took the same, look at my last post

Andrey

We shouldn't take it! That momentum bar was too strong...Anyway I am now short on G/U M15 35/50 touch (2 bar touch) and it is going pretty good

Hope you took it as well!
You are allowed to fall but you are imposed to get up!
  • #4,758
  • Apr 12, 2011 2:55am Apr 12, 2011 2:55am
Quoting iero4
Andrey

We shouldn't take it! That momentum bar was too strong...Anyway I am now short on G/U M15 35/50 touch (2 bar touch) and it is going pretty good

Hope you took it as well!
i donīt took the touch on the gbp/usd, because of the h4 chart.. it seems the price bounced of the 35 and go long now, but in this moment it looks very pretty =)
  • #4,759
  • Apr 12, 2011 3:03am Apr 12, 2011 3:03am
Quoting AndreyBecker
i donīt took the touch on the gbp/usd, because of the h4 chart.. it seems the price bounced of the 35 and go long now, but in this moment it looks very pretty =)
It was good for +14
You are allowed to fall but you are imposed to get up!
  • #4,760
  • Apr 12, 2011 3:13am Apr 12, 2011 3:13am
Quoting Greenhill
There was no new low when price started moving back up quickly. This strongly indicates to me that the move is now long.
Thanx mate. Now I see it more clear...
You are allowed to fall but you are imposed to get up!
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