Price Action Trading with Indicators! The Freebie System | Page 146 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #2,901
  • Edited 12:15pm Jun 15, 2011 11:41am | Edited 12:15pm
Been hard to find some pc time this week, so only traded briefly today and yesterday and missed some decent sized moves.

Heres NYMEX today

Missed R1 Fail as picking up son from school
Short off the Pivot as it was blocking move back up
Exited as considered 98.50 an obstruction.

Coming back to PC and watching was a mistake as fear forced me to close trade early. 98.50 and S1 have given way and this move offered up to 150 pips off the pivot.

+16.3% this week
+ 8.1% today

EDIT: Short again off S1

time is my biggest enemy a
Attached Image (click to enlarge)
Click to Enlarge Name: nymex150611.gif Size: 26 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,902
  • Jun 15, 2011 12:14pm Jun 15, 2011 12:14pm
Days like today, does anyone have the balls to enter a position and let it run?
  • #2,903
  • Jun 15, 2011 12:20pm Jun 15, 2011 12:20pm
dredding, your strategy is really awesome, i test it on my demo and results are great!!! great is understated till today i made about 50 % with 5%/trade risk... in 3!!!! days... could make much more.. havenīt much time at these days and sometimes i took my profit tooo early... additionaly i use 50EMA as S/R level too.. it works very well for me.. i will post some charts in the future!

Cheers
Attached Image (click to enlarge)
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  • #2,904
  • Jun 15, 2011 12:25pm Jun 15, 2011 12:25pm
Quoting AndreyBecker
dredding, your strategy is really awesome, i test it on my demo and results are great!!! great is understated till today i made about 50 % with 5%/trade risk... in 3!!!! days... could make much more.. havenīt much time at these days and sometimes i took my profit tooo early... additionaly i use 50EMA as S/R level too.. it works very well for me.. i will post some charts in the future!

Cheers
Great trading
  • #2,905
  • Edited 12:43pm Jun 15, 2011 12:32pm | Edited 12:43pm
my thinking exactly.

nymex has moved 370 (now 500) off todays high where it failed R1. I wasnt around to to take that.

As i enter on a pullback to fail on a lower level, ie the pivot in this case, it offers some protection, but when its so trendy im thinking this move must end soon and reverse, so the indecision that comes with that often keeps me out, as i think im too close to the bottom, and unless I get a good entry price I may get stopped on the retrace or reversal.

Fact is I dont know where support/bottom is and I have now exited my short off S1 as TP has been hit, but its just breached $96 with $95 in sight.

I usually reduce my position when TP1 is hit but ive just reinstalled MT4 and not all setup so did not have my MT4 setup for quick excution of trades. If so I would be moving stop to BE and letting them run.

S2 being tackled $95.50
S3 and $94 given way
$94 bounced and price retracing 60 pips

ST


Quoting neil324
Days like today, does anyone have the balls to enter a position and let it run?
Attached Image (click to enlarge)
Click to Enlarge Name: nymex2150611.gif Size: 22 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,906
  • Jun 15, 2011 12:37pm Jun 15, 2011 12:37pm
Fantastic

Quoting AndreyBecker
dredding, your strategy is really awesome, i test it on my demo and results are great!!! great is understated till today i made about 50 % with 5%/trade risk... in 3!!!! days... could make much more.. havenīt much time at these days and sometimes i took my profit tooo early... additionaly i use 50EMA as S/R level too.. it works very well for me.. i will post some charts in the future!

Cheers
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,907
  • Jun 15, 2011 12:50pm Jun 15, 2011 12:50pm
thanks guys! ohh one other thing.. i trade only on the 15m timeframe..
  • #2,908
  • Jun 15, 2011 5:42pm Jun 15, 2011 5:42pm
Quoting AndreyBecker
dredding, your strategy is really awesome, i test it on my demo and results are great!!! great is understated till today i made about 50 % with 5%/trade risk... in 3!!!! days... could make much more.. havenīt much time at these days and sometimes i took my profit tooo early... additionaly i use 50EMA as S/R level too.. it works very well for me.. i will post some charts in the future!

Cheers
Great Job AndreyBecker....Im glad newbie traders are still finding this thread and taking the time to learn to trade.
  • #2,909
  • Jun 15, 2011 8:04pm Jun 15, 2011 8:04pm
Both are safe positions so let it run




Quoting neil324
Days like today, does anyone have the balls to enter a position and let it run?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 150611.gif Size: 39 KB
Click to Enlarge Name: eurusd 150611.gif Size: 39 KB
Forex is boring but profitable with patience and discipline
  • #2,910
  • Jun 15, 2011 8:10pm Jun 15, 2011 8:10pm
Let's see how far it goes - if it won't run who cares - next one will.

Quoting prftablefool
Both are safe positions so let it run
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf 150611.gif Size: 36 KB
Forex is boring but profitable with patience and discipline
  • #2,911
  • Jun 16, 2011 4:52am Jun 16, 2011 4:52am
till now 2 trades for today.. both took tp =))) +13,2 %

1. trade: eur/usd bounce of the previous low and the daily low. entry after the close of the red HA, sl by the rules... tp was at the swing low..(green line)

2. trade: aud/usd bounce in the near of the Mid pivot and 50EMA. sl by the rules, tp was at the swing low..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdm15.gif Size: 46 KB
Click to Enlarge Name: audusdm15.gif Size: 46 KB
Click to Enlarge Name: statement.gif Size: 19 KB
  • #2,912
  • Jun 16, 2011 6:01am Jun 16, 2011 6:01am
just one advise for some people, who are new at this thread and donīt understand, why dredding want you to read the through the thread and follow his rules.. it simply the best way to learn this strategy... if you have some questions, you will find the answers here... and consider attentively at the charts which were posted here... they are the gold!! you can learn very much of them... for 3 weeks i saw this thread for the first time, i read 2 times through it and looked at the charts.. it is really very simple... Thanks again, dred!

cheers
  • #2,913
  • Jun 16, 2011 6:04am Jun 16, 2011 6:04am
Well done, I took that same short on the E/U targetting just above the session low which was hit easily

I also shorted NYMEX off todays high and this level was rejected yesterday too, again targetted just above todays low and TP hit.

+12.3% today

I feel strangely relaxed today as the kids are out and no distractions

ST

Quoting AndreyBecker
till now 2 trades for today.. both took tp =))) +13,2 %

1. trade: eur/usd bounce of the previous low and the daily low. entry after the close of the red HA, sl by the rules... tp was at the swing low..(green line)

2. trade: aud/usd bounce in the near of the Mid pivot and 50EMA. sl by the rules, tp was at the swing low..
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,914
  • Jun 16, 2011 6:23am Jun 16, 2011 6:23am
Quoting speedtrip
Well done, I took that same short on the E/U targetting just above the session low which was hit easily

I also shorted NYMEX off todays high and this level was rejected yesterday too, again targetted just above todays low and TP hit.

+12.3% today

I feel strangely relaxed today as the kids are out and no distractions

ST


look at usd/jpy m15... possible short trade =)
  • #2,915
  • Jun 16, 2011 6:47am Jun 16, 2011 6:47am
Quoting AndreyBecker


look at usd/jpy m15... possible short trade =)
Hi Andrey,

I don't trade the 15min setups but the gbpusd might be one to look at (I think its valid by the rules laid out)

Balrog.

Edit: I should have mentioned I think it's a good short trade setup. And it is not an endorsement for taking this trade. Just an observation.
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  • #2,916
  • Jun 16, 2011 6:53am Jun 16, 2011 6:53am
Hey Paulus,

Just wondering if you are back trading again this week? Looking forward to your continued updates.

Balrog.
  • #2,917
  • Jun 16, 2011 6:57am Jun 16, 2011 6:57am
Quoting balrog
Hi Andrey,

I don't trade the 15min setups but the gbpusd might be one to look at (I think its valid by the rules laid out)

Balrog.

Edit: I should have mentioned I think it's a good short trade setup.
hey thanks, do you mean the two bar formation on the swing high?
  • #2,918
  • Jun 16, 2011 7:03am Jun 16, 2011 7:03am
took the usd/jpy trade =)
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym15.gif Size: 48 KB
  • #2,919
  • Jun 16, 2011 7:07am Jun 16, 2011 7:07am
Quoting AndreyBecker
hey thanks, do you mean the two bar formation on the swing high?
Pair is in a down trend
There is a semafor alert
HeikenAshi bar has gone red
Swing high and seems to be failing S1

That's how I read it. Currently headed south to MS2 although there is some US news out in 20mins. I'm currently in the trade but off the 5min charts since the last 3 hours...

Balrog.
  • #2,920
  • Jun 16, 2011 7:12am Jun 16, 2011 7:12am
Quoting balrog
Pair is in a down trend
There is a semafor alert
HeikenAshi bar has gone red
Swing high and seems to be failing S1

That's how I read it. Currently headed south to MS2 although there is some US news out in 20mins. I'm currently in the trade but off the 5min charts since the last 3 hours...

Balrog.
yes, it seems to be a really good trade and the reversal formation on the swing high seems to be very strong too, have seen it very often =). iīm unfortunately not in this trade, but a have a look at this
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