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Attachments: Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound
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Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound

  • #441
  • Edited 8:15am Jun 16, 2011 8:04am | Edited 8:15am
Quoting PhAnTi'
offtopic !

if you dont familiar with trading break outs....

wait for the break and close, then wait for a retest and buy/sell....far safer line

Attachment
Breakout Fading?

Many false breakouts occur in forex price charts and the occurence of these fakeouts provides the perfect opportunity for fading breakouts, that is, trading against those breakouts. Grace Cheng "7 Winning Strategies for Trading Forex" (Harriman House, 2007) explain in chapter "Strategy 3" why most brakouts fail and how you can identify high-probability fading opportunities.
(Breakout Trading is then explained in the following Strategy 4 & Strategy 5 is named "Decreased Volatility Breakout" which is conceptually similar to the stragtegy of breakout trading, because in both cases the trader will be hoping for a successful price breakout).

[ISBN 978-1-905641-19-2, www.harriman-house.com/forex]
http://www.harriman-house.com/search/grace%20cheng

This woman has an intelligent, dynamical writing style which is not abound among the forex literature.

Best regards
FXcube
Attached Image
  • #442
  • Jun 16, 2011 8:12am Jun 16, 2011 8:12am
Quoting Forexcube
Breakout Fading?

Many false breakouts occur in forex price charts and the occurence of these fakeouts provides the perfect opportunity for fading breakouts, that is, trading against those breakouts. Grace Cheng "7 Winning Strategies for Trading Forex" (Harriman House, 2007) explain in chapter "Strategy 3" why most brakouts fail and how you can identify high-probability fading opportunities.
(Breakout Trading is then explained in the following Strategy 4 & Strategy 5 is named "Decreased Volatility Breakout" which is conceptually...
this is one way to trade break outs, the other is to wait for close and retest to enter in a safer manner....
as described and showed above.

thanks for the insight FXcube,.

jonas
Hero calls followed by margin calls...
  • #443
  • Jun 16, 2011 9:43am Jun 16, 2011 9:43am
Quoting nitrate73
Hi Phanti,

Yes , its already loaded on the chart. Unless you're talking about another indi. Screenshot attached.
load rsx indi given by phanti. you only have the ma_rsx loaded...try that see if the errors go away. happy trading!
Enter Signature
  • #444
  • Jun 16, 2011 10:13am Jun 16, 2011 10:13am
Quoting hamburglar
load rsx indi given by phanti. you only have the ma_rsx loaded...try that see if the errors go away. happy trading!
thanks for the insight, hope this helps,

lets c

Jonas
Hero calls followed by margin calls...
  • #445
  • Jun 16, 2011 11:34am Jun 16, 2011 11:34am
this bottom descending trendline just works awesome, pure awesomeness.

Attached Image (click to enlarge)
Click to Enlarge Name: cadchf.jpg Size: 163 KB
Hero calls followed by margin calls...
  • #446
  • Jun 17, 2011 2:16am Jun 17, 2011 2:16am
for matini

if price reaches 1.2000 we r good for a long, if break sell the retest.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Hero calls followed by margin calls...
  • #447
  • Jun 17, 2011 2:40am Jun 17, 2011 2:40am
Quoting hamburglar
load rsx indi given by phanti. you only have the ma_rsx loaded...try that see if the errors go away. happy trading!
Hmm i tried it, loaded the rsx indi, len value is 14 by default, didn't change anything , still i get the same errors in the terminal window > experts tab .. at first i thought it was fine since there were none of the regular MA_of_RSX error msgs , then i switched tfs and error msgs filled the terminal window .. hehe ..
You gotta know when to hold 'em, know when to fold 'em ...
  • #448
  • Jun 17, 2011 2:43am Jun 17, 2011 2:43am
Quoting nitrate73
Hmm i tried it, loaded the rsx indi, len value is 14 by default, didn't change anything , still i get the same errors in the terminal window > experts tab .. at first i thought it was fine since there were none of the regular MA_of_RSX error msgs , then i switched tfs and error msgs filled the terminal window .. hehe ..
use value 2
Hero calls followed by margin calls...
  • #449
  • Jun 17, 2011 2:53am Jun 17, 2011 2:53am
Quoting PhAnTi'
use value 2
Hi Phanti,

could u look at my attachment and see if my settings for MA_of_RSX and RSX are correct. if its correct, then i'll just ignore the warnings, anyway u did verify that my MA_of_RSX was functioning correctly yesterday. Thanks !
Attached Image (click to enlarge)
Click to Enlarge Name: indis_settings.jpg Size: 221 KB
You gotta know when to hold 'em, know when to fold 'em ...
  • #450
  • Jun 17, 2011 2:55am Jun 17, 2011 2:55am
Quoting nitrate73
Hi Phanti,

could u look at my attachment and see if my settings for MA_of_RSX and RSX are correct. if its correct, then i'll just ignore the warnings, anyway u did verify that my MA_of_RSX was functioning correctly yesterday. Thanks !
remove the indicator window at the bottom,

this is how it should look like :

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 152 KB
Hero calls followed by margin calls...
  • #451
  • Jun 17, 2011 3:08am Jun 17, 2011 3:08am
Quoting PhAnTi'
remove the indicator window at the bottom,

this is how it should look like :

Attachment
Hmm , now i'm confused, that's the rsx indi, so i don't need it ? ..cos when i remove indi window, on my indicators list , rsx indi has been removed as well.
You gotta know when to hold 'em, know when to fold 'em ...
  • #452
  • Jun 17, 2011 3:10am Jun 17, 2011 3:10am
Quoting nitrate73
Hmm , now i'm confused, that's the rsx indi, so i don't need it ? ..cos when i remove indi window, on my indicators list , rsx indi has been removed as well.
u just need the window with the magenta rsx line and green/red backgrounds

see chart
Hero calls followed by margin calls...
  • #453
  • Jun 17, 2011 3:11am Jun 17, 2011 3:11am
Quoting PhAnTi'
u just need the window with the magenta rsx line and green/red backgrounds

see chart
Okay , understood , thanks !
You gotta know when to hold 'em, know when to fold 'em ...
  • #454
  • Jun 17, 2011 9:14am Jun 17, 2011 9:14am
Hello Phanti,
I didn't post anything yesterday because I had an important Macroeconomics exam that I had to attend. I've recently switched to higher timeframes to get a better picture of what I'm doing. I've attached two pictures, one with a daily chart to see the important trend lines that became resistance after they were broken as resistance, the other picture is with the entry I want to take on a 1h chart. My short entry is at 1.6212 and my long one is at 1,6045, according with fib lines for the big uptrend on the daily chart 38.2 and 50.0 levels for support / resistance. I will cancel my long one if the daily rsx doesn't head for oversold condition.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 17.06.2011 gbp usd.jpg Size: 134 KB
Click to Enlarge Name: 16.06.2011 gbp usd 1h..jpg Size: 88 KB
  • #455
  • Jun 17, 2011 9:18am Jun 17, 2011 9:18am
g/u approaching oversold condition on rsi. Let's hope for some green pips
  • #456
  • Jun 17, 2011 9:49am Jun 17, 2011 9:49am
Quoting Dorobantu
Hello Phanti,
I didn't post anything yesterday because I had an important Macroeconomics exam that I had to attend. I've recently switched to higher timeframes to get a better picture of what I'm doing. I've attached two pictures, one with a daily chart to see the important trend lines that became resistance after they were broken as resistance, the other picture is with the entry I want to take on a 1h chart. My short entry is at 1.6212 and my long one is at 1,6045, according with fib lines for the big uptrend on the daily chart 38.2 and 50.0...
hey,

i dont like it to play with limit orders since u dont know whether rsx is in oversold/overbought level when limits got hit and traders gettin triggered.
Always stay patient.

6215 might be a nice level for some shorts if it holds.
Hero calls followed by margin calls...
  • #457
  • Jun 17, 2011 9:50am Jun 17, 2011 9:50am
Quoting Dorobantu
g/u approaching oversold condition on rsi. Let's hope for some green pips
always consider the timeframe u r using.

an oversold setup on M5 frame might be good for max. 10-15 pips, h4 100-120 or more pips etc.
Hero calls followed by margin calls...
  • #458
  • Jun 17, 2011 9:51am Jun 17, 2011 9:51am
Quoting PhAnTi'
always consider the timeframe u r using.

an oversold setup on M5 frame might be good for max. 10-15 pips, h4 100-120 or more pips etc.
in addition try to look for supply and demand levels and combine it to get better results.
Hero calls followed by margin calls...
  • #459
  • Jun 17, 2011 10:43am Jun 17, 2011 10:43am
You are completely right, wouldn't take a trade on a 5m chart with a tp of 200 pips. Your take profit will always be in relativity with the timeframe you find yourself in. It would be absurd if it would be otherwise . Altough there is the situation where you are have a os/ob condition on a lower timeframe which is the same os/ob condition on a higher timeframe. If you would have a good resistance/support level or supply/demand zone accordingly to your trade then it would be perfect and you could set up a good take profit. Is my deduction right?
  • #460
  • Jun 17, 2011 10:49am Jun 17, 2011 10:49am
Quoting Dorobantu
You are completely right, wouldn't take a trade on a 5m chart with a tp of 200 pips. Your take profit will always be in relativity with the timeframe you find yourself in. It would be absurd if it would be otherwise . Altough there is the situation where you are have a os/ob condition on a lower timeframe which is the same os/ob condition on a higher timeframe. If you would have a good resistance/support level or supply/demand zone accordingly to your trade then it would be perfect and you could set up a good take profit. Is my deduction right?...
absolutely.
You got it.

always remember and consider the timeframe you are looking at.

if we have an oversold RSX (that in addition points up ) and price reaches a demand/support area we wait how PA behaves at the certain area and wait for a confirmation to the upside. Then we buy and set stop below the demand area.
Hero calls followed by margin calls...
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