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Price Action Trading with Indicators! The Freebie System

  • #2,121
  • May 3, 2011 8:57am May 3, 2011 8:57am
Quoting hope&glory
hi Art

why do you not get any 2 semafors on your charts ?

thanks
I do, but I am using a slightly different indie than the one posted here.
  • #2,122
  • May 3, 2011 10:24am May 3, 2011 10:24am
Had to dash out and pick up my son from school.

Nice to come back to this and testing R1 now
Attached Image (click to enlarge)
Click to Enlarge Name: eu030511.gif Size: 24 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,123
  • May 3, 2011 10:31am May 3, 2011 10:31am
Eur jpy before and after
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur jpy.gif Size: 33 KB
Click to Enlarge Name: eur jpy after target.gif Size: 30 KB
No man is free who is not a master of himself. -P.M.-
  • #2,124
  • May 3, 2011 10:34am May 3, 2011 10:34am
usd chf before and after...very late entry from initial entry at lower high semaphor
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd chf.gif Size: 34 KB
Click to Enlarge Name: usd chf after target.gif Size: 32 KB
No man is free who is not a master of himself. -P.M.-
  • #2,125
  • May 3, 2011 10:43am May 3, 2011 10:43am
eur usd before and after...in the before picture when I first placed the trade my stop was at the current entry bar low but it was moved to the last higher low semaphor...I forgot to take a picture when I did that as well...target next midpivot line since price was already at r3


Paul
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur usd 05.03.2011.gif Size: 35 KB
Click to Enlarge Name: eur usd after.gif Size: 33 KB
No man is free who is not a master of himself. -P.M.-
  • #2,126
  • May 3, 2011 11:03am May 3, 2011 11:03am
What is this indicator I saw on one of your charts?
I am guessing a stoch cross indi?
Can you share it please?

many thanks!

PGPB
Attached Image (click to enlarge)
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  • #2,127
  • May 3, 2011 11:15am May 3, 2011 11:15am
Shorting as looks to be failing again at highs.

TP1 hit +20
TP2 - still running with TSL
Attached Image (click to enlarge)
Click to Enlarge Name: goldv2030511.gif Size: 22 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,128
  • May 3, 2011 11:36am May 3, 2011 11:36am
Hello all

I use ProRealTime charts in the UK and they don't offer the semafore indi, so I am just using the zig zag for trend identification. Aside from putting pretty dots on highs and lows, which I guess you can do manually, am I missing out on anything by not having the semafore?

Thanks in advance.

By the way - great to see your successes, Paulus. I followed your posts in the 1-2-3 thread with great interest.
  • #2,129
  • May 3, 2011 2:15pm May 3, 2011 2:15pm
GU short before and after target
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp usd.gif Size: 34 KB
Click to Enlarge Name: gbp usd after target.gif Size: 34 KB
No man is free who is not a master of himself. -P.M.-
  • #2,130
  • May 3, 2011 3:36pm May 3, 2011 3:36pm
Quoting pmullin86
GU short before and after target
What pivot indi and setting are you using?

I can't make up my mind whether GMT or US Session close (5.00pm EST) is best for plotting pivots so I have them both plotted.

My daily pivots are reading 1.6673-5 (both within a pip or 2).

Your daily pivot is reading 1.6516.

Maths was never my strong point, but thats 150 pips different.

If you're right and I'm wrong, that makes my lines completely irrelevant. Visa versa if I'm right.

Cheers.
  • #2,131
  • May 3, 2011 5:36pm May 3, 2011 5:36pm
Just to add to the confusion here's my pivot, completely different to both of yours but I'm happy with it as it tends to play its expected part in the daily drama
Attached Image (click to enlarge)
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  • #2,132
  • May 3, 2011 6:37pm May 3, 2011 6:37pm
Quoting Delite
Hello all

I use ProRealTime charts in the UK and they don't offer the semafore indi, so I am just using the zig zag for trend identification. Aside from putting pretty dots on highs and lows, which I guess you can do manually, am I missing out on anything by not having the semafore?

Thanks in advance.

By the way - great to see your successes, Paulus. I followed your posts in the 1-2-3 thread with great interest.
The only difference in the zig zag indicator and the 3 level semafor is that it plots 3 different zig zags at once...
  • #2,133
  • May 3, 2011 6:38pm May 3, 2011 6:38pm
Quoting stochman
Just to add to the confusion here's my pivot, completely different to both of yours but I'm happy with it as it tends to play its expected part in the daily drama
Hi Stoch,

I think the point Dredding is trying to get across to everyone is it is not so much that we all use or have the exact same pivot points on our charts it is how do you view/see price action when it gets to those points. It is important you understand the set ups/rejections when price gets to lets say the daily pivot point. It doesn't matter if my daily pivot point is 10 pips different from yours. What matters is that I can recognize a price rejection at the daily pivot point and know how to trade the price action and make positive pips. I used the daily pivot point as an example but this goes for any pivot point, fib line, cam line or any other line that you feel is significant on your chart. Keep in mind even if you use the exact same indicator the values will change a few pips based on your brokers time feed and data feed. I hope this helps some of you who are struggling with what type of lines to use on your charts.
  • #2,134
  • May 3, 2011 6:39pm May 3, 2011 6:39pm
Quoting Pips Queak
What pivot indi and setting are you using?

I can't make up my mind whether GMT or US Session close (5.00pm EST) is best for plotting pivots so I have them both plotted.

My daily pivots are reading 1.6673-5 (both within a pip or 2).

Your daily pivot is reading 1.6516.

Maths was never my strong point, but thats 150 pips different.

If you're right and I'm wrong, that makes my lines completely irrelevant. Visa versa if I'm right.

Cheers.
FLIP A COIN!! lol ANY PIVOTS WILL WORK ....good god people...it REALLY does NOT matter what pivots you use...JUST use YOUR BROKERS TIME........its that simple....in other words....STOP THINKING SO MUCH! lol
  • #2,135
  • May 3, 2011 7:00pm May 3, 2011 7:00pm
eur jpy before and after target
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur jpy asia 15 minute.gif Size: 42 KB
Click to Enlarge Name: eur jpy after take profit.gif Size: 43 KB
No man is free who is not a master of himself. -P.M.-
  • #2,136
  • May 3, 2011 7:09pm May 3, 2011 7:09pm
Just to prove the point that any pivot points will work let's take a look at the current 5 min EU chart.

Note on the top of my chart we have R1, daily pivot value (DPV) and the resistance line from the weekly high of the previous week. Price has traveled 150 pips from the low of the day to challenge the R1 level and previous weekly high. Note that price doesn't quite make it to the R1 level and starts to pullback. Also note that price has hit the previous weekly high at this point. For me I see confluence with the DPV and weekly high pullback. The first rejection of a significant line, in this case the previous weekly high, I'll call a pullback because we don't have a conformation of the rejection yet. Now as we progress you'll see I have marked 3 candles with green arrow. These are all possible entry points, with the first one confirming the rejection of the previous weekly high. I missed the first entry point but got in on the second entry point.

What is important here is to recognize the rejection of a significant level. Making sure that level matches someone else's chart is just wasting your time.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m t2 3.5.11.jpg Size: 147 KB
  • #2,137
  • May 3, 2011 7:34pm May 3, 2011 7:34pm
did not properly assess this before getting in so I'm actually pretty confident I will get stopped out so just posting losers as well though it isnt a loser yet...but equity will cover this loss and I will just go in the other direction where I should have been looking to begin with...


Paul
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd asia.gif Size: 34 KB
No man is free who is not a master of himself. -P.M.-
  • #2,138
  • May 3, 2011 7:42pm May 3, 2011 7:42pm
Quoting Pips Queak
What pivot indi and setting are you using?

Just using the fib pivot indicator that dredding gave out when initially starting the first thread...


Paul
No man is free who is not a master of himself. -P.M.-
  • #2,139
  • May 4, 2011 1:21am May 4, 2011 1:21am
Quoting pgpb
What is this indicator I saw on one of your charts?
I am guessing a stoch cross indi?
Can you share it please?

many thanks!

PGPB
It's one of the indies (frrebie histo signal?) already posted on here, please check the list of attachments to this thread.
  • #2,140
  • May 4, 2011 2:30am May 4, 2011 2:30am
before and after take profit
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur jpy buy.gif Size: 37 KB
Click to Enlarge Name: eur jpy buy after take profit.gif Size: 36 KB
No man is free who is not a master of himself. -P.M.-
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