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  • #3,161
  • Apr 12, 2011 11:38am Apr 12, 2011 11:38am
Quoting Rcwso
Just a note, and I am certainly not an expert, but it looks like based on your chart you are using the CCI as a divergence indicator and not the RSI. That is not correct, if that is the case on what your are using.
Thanks RC, I missed that when changed my templet
******************************
  • #3,162
  • Apr 12, 2011 11:38am Apr 12, 2011 11:38am
Quoting Divergence
e u 123 short get the grey poupon
Hey Div..

On the EU short 123 around the 1.4515 area. Per our previous posts you had mentioned that in order to take a 123 ( in this case short ) we would need some resistance above...Were you looking at the 4500 level although was not above but that would take the 123 into this 4500 area..Nothing we can draw above as I am seeing. There is higher S/Rs but they appeear to be to far away for this trade..

I see were all the other criteria was met.

Could you give me some clarification on that??

Thanks

TSD
  • #3,163
  • Apr 12, 2011 11:50am Apr 12, 2011 11:50am
4520 area
  • #3,164
  • Apr 12, 2011 12:03pm Apr 12, 2011 12:03pm
Quoting Divergence
we having fun yet?
++++++++++++++++++++++++++++++++

Hmmm, a little leverage..
  • #3,165
  • Apr 12, 2011 12:07pm Apr 12, 2011 12:07pm
I'm having fun today..
2 trades so far, 1st one was +20 pips , second one started ok but fizzled out and was +1 pip, too bad it's a micro account but the important thing to me isnt the money, it's becoming consistent and having a solid system before I risk $1 or $10 a pip...ok and it's about beating the game too
  • #3,166
  • Apr 12, 2011 12:10pm Apr 12, 2011 12:10pm
I heard a comment made on NPR (public radio). It was:

"If voting really worked, it would be outlawed".

Perhaps we should whine a little more on this thread and start making up losers to post also, before we're discovered and cut off.

"A closed mouth gathers no feet."

~ unknown or maybe me
  • #3,167
  • Apr 12, 2011 12:12pm Apr 12, 2011 12:12pm
Quoting gimmie3pips
I'm having fun today..
2 trades so far, 1st one was +20 pips , second one started ok but fizzled out and was +1 pip, too bad it's a micro account but the important thing to me isnt the money, it's becoming consistent and having a solid system before I risk $1 or $10 a pip...ok and it's about beating the game too
++++++++++++++++++++++++++++++++

Risk management. Couldn't agree more.

The more trades I stay out of the quicker my account grows.
  • #3,168
  • Apr 12, 2011 12:31pm Apr 12, 2011 12:31pm
almost a gorgeous 123 at the end of a countertrend move to get back with the trend, setup bar was >2.4 away from #2 which made it invalid (sorry my #1 is a little too far right)
Attached Image (click to enlarge)
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  • #3,169
  • Apr 12, 2011 12:34pm Apr 12, 2011 12:34pm
I was looking at this setup on the 5 min EUR/USD but I'm thinking it's too risky for me. not a whole lot of room on the upside and i'm pretty sure it's going to reverse too many of Div's "sticks" on the topside
  • #3,170
  • Apr 12, 2011 12:42pm Apr 12, 2011 12:42pm
Quoting Divergence
again if s u b is connected to sma that's perfect if its not 2.4 pip goes into effect glad a bunch of u recognized pattern
s u b means signal under bar? Sorry for the dumd Q, and THX for the answer!
  • #3,171
  • Apr 12, 2011 12:44pm Apr 12, 2011 12:44pm
Quoting tbjohnton
almost a gorgeous 123 at the end of a countertrend move to get back with the trend, setup bar was >2.4 away from #2 which made it invalid (sorry my #1 is a little too far right)
looks good to me TB.....
you could have used the 17.10 bar as the setup and you would be counting the profit.
  • #3,172
  • Apr 12, 2011 1:02pm Apr 12, 2011 1:02pm
s u b--setup bar
can you use the 2nd bar if the first one isnt within the 2.4? i thought that would negate the trade
  • #3,173
  • Apr 12, 2011 1:07pm Apr 12, 2011 1:07pm
Quoting tbjohnton
s u b--setup bar
can you use the 2nd bar if the first one isnt within the 2.4? i thought that would negate the trade
no, you can use it... there is no 1st and 2nd though, as you say the one you were looking at was >2.4 pips away so it wasnt a setup bar. The only valid setup bar was the 17.10 one.
  • #3,174
  • Apr 12, 2011 1:32pm Apr 12, 2011 1:32pm
Quoting d4n
no, you can use it... there is no 1st and 2nd though, as you say the one you were looking at was >2.4 pips away so it wasnt a setup bar. The only valid setup bar was the 17.10 one.
Hey,

I agree with d4n to use the 17.10 (GMT+1, London Time) setup bar to be within 2.4 pips of point 2.

But I think it is only valid because of the pullback candle below the 10MA before and then as second chance bar. Div said he likes to see the first bar after point 3 crossing the 10MA, so TB was right in saying the 123 setup was invalid.

In this case, only looking at the pullback, the 17.05 candle would have already been a valid setup bar.

Agree, Div?

Cheers,
Olarion
  • #3,175
  • Apr 12, 2011 3:42pm Apr 12, 2011 3:42pm
this question has come up way to many times i will explain this crystal clear for the last time. Definition of setup bar: this is a candle that has closed above or below the sma and is either touching the sma or its within 2.4 pips of the sma and the cci has closed above or below the 50, (if the reading is 50.000 thats fine 49.999 is not fine) all setups with the trend trade , div 123 are the same for the setup bar. Also the div 123 the setup bar high or low must be with 2.4 pips of point 2. Thats it no more discussions about this if you cant comprehend what i just wrote then it might be best if you give up trading for a living because this cant be explained any clearer and we need to move past this, sorry if it seems a little harsh. Now lets go make some money
  • #3,176
  • Apr 12, 2011 3:50pm Apr 12, 2011 3:50pm
Quoting tbjohnton
almost a gorgeous 123 at the end of a countertrend move to get back with the trend, setup bar was >2.4 away from #2 which made it invalid (sorry my #1 is a little too far right)
Hey tb,
Is that RSI or CCI on your chart showing divergence? It should be RSI. My RSI shows no divergence at that spot. I still wouldn't have entered being that late in the session.
  • #3,177
  • Apr 12, 2011 4:34pm Apr 12, 2011 4:34pm
Quoting diamonddbw
I heard a comment made on NPR (public radio). It was:

"If voting really worked, it would be outlawed".

Perhaps we should whine a little more on this thread and start making up losers to post also, before we're discovered and cut off.

"A closed mouth gathers no feet."

~ unknown or maybe me
"If voting really worked, it would be outlawed".

Very telling of how NPR thinks about our countries ideals. They discount the importance of voting. The less people vote, the less they pay attention and look where that has taken us. Yes there are those syncs who will say voting does not make a difference. Yes at its current level there may??? have a point???... But just imagine if 60-70% of the populace voted... I would think our elected officials would be acting much differently and our county might be in a better place at this point.

Just my No So Humble opinion
  • #3,178
  • Apr 12, 2011 4:40pm Apr 12, 2011 4:40pm
I've really learned a lot from this thread, anytime debating politics or religion come up, threads die or turn real ugly...so can we all just agree that we wont agree and stick to the topic of trends
  • #3,179
  • Apr 12, 2011 4:42pm Apr 12, 2011 4:42pm
Quoting TraderinSD
"If voting really worked, it would be outlawed".

[color=black][font=Verdana]Very telling of how NPR thinks about our countries ideals. They discount the importance of voting. The less people vote, the less they pay attention and look where that has taken us. Yes there are those syncs who will say voting does not make a difference. Yes at its current level there may??? have a point???... But just imagine if 60-70% of the populace voted... I would think our elected officials would be acting much differently and our county might be in a...
my rebuttle to this is Let's go Mets!!!
  • #3,180
  • Apr 12, 2011 4:56pm Apr 12, 2011 4:56pm
I made a simple, easy to follow 3 step graphic in the stylings of Mr D.
hope i have the bars right
Attached Image (click to enlarge)
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