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Price is everything

  • #19,501
  • Jun 25, 2011 8:43am Jun 25, 2011 8:43am
cant see any reaction from sellers such as engulfing , i would not taken it



Quoting Myrza
30 pips spread for a slow pair like this..It is not even worth trading.
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #19,502
  • Jun 25, 2011 8:44am Jun 25, 2011 8:44am
right fighter i dont like to sit on pc for long time ..just come and see once in 30 minutes if there are enteries



Quoting Fxfighter
I agree that level was good to try( first visit,pole north)but what I said if I enter long i 'll watch price on lower TF b/c just worried me how price arrived (strong momentum) to that level.Anyway is just me how I see it.
Anyway each trade and trader are unique.

FX
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #19,503
  • Jun 25, 2011 8:45am Jun 25, 2011 8:45am
seems Lots of guys are online ..


All are marking enteries on charts for next week to make some bucket full of pips
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #19,504
  • Jun 25, 2011 8:48am Jun 25, 2011 8:48am
Quoting Myrza
30 pips spread for a slow pair like this..It is not even worth trading.
OF course Spread hit me off. Thanks Myrza.
But its wierd, i double checked the spread being 3-4 pips..
It's also true that spread widens while in true supply/demand zone.

PEACE MIKY
--Be in the NOW or get lost in time.--
  • #19,505
  • Jun 25, 2011 8:49am Jun 25, 2011 8:49am
Quoting Miky
Hey guys, why DID THAT HAPPEN?

http://www.shrani.si/f/1V/Nz/2d1LbWN...1-13-42-19.png

THank you all =) Miky
high + spread = stop hit.

anyway 5.0 lot trade with a 30 pip spread.....bro u r sick....approx. ~1500 $ charge : p
Hero calls followed by margin calls...
  • #19,506
  • Jun 25, 2011 8:51am Jun 25, 2011 8:51am
Quoting Miky
OF course Spread hit me off. Thanks Myrza.
But its wierd, i double checked the spread being 3-4 pips..
It's also true that spread widens while in true supply/demand zone.

PEACE MIKY
?!^^

5 digit broker 30 spread = 3 pips obv.
Hero calls followed by margin calls...
  • #19,507
  • Jun 25, 2011 9:04am Jun 25, 2011 9:04am
Hi guys, I have been following this thread for a number of months and really appreciate the input everyone is making.

I am just wondering, does anyone ever enter at the touch of a level or is it best to always wait for a suitable candle to appear (engulfing/pin)? Also, what time frame is best to look for these reaction candles, assuming one is trading off H1 and M30 supply/demand levels? M5 or M15?
  • #19,508
  • Edited 9:09am Jun 25, 2011 9:07am | Edited 9:09am
Quoting mangalesh
right fighter i dont like to sit on pc for long time ..just come and see once in 30 minutes if there are enteries
So do u use PO?nor u wait for PA?
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  • #19,509
  • Jun 25, 2011 9:23am Jun 25, 2011 9:23am
Quoting Ultimatus
Hi guys, I have been following this thread for a number of months and really appreciate the input everyone is making.

I am just wondering, does anyone ever enter at the touch of a level or is it best to always wait for a suitable candle to appear (engulfing/pin)? Also, what time frame is best to look for these reaction candles, assuming one is trading off H1 and M30 supply/demand levels? M5 or M15?

You can enter a trade going by a touch or waiting for a candle formation. It depends on you. Its safer with a candle formation imo. But there are guys here that are killing the market with touch trades. I find the M5 PA unreliable on forex. Commodities are different story. Eg. Find a 1h strong move with the higher tf trend then mark the s/d levels and wait for a 15 min PA. The move can be a 4h or whatever but this you will get with experience and going over the posted charts here.
  • #19,510
  • Jun 25, 2011 9:39am Jun 25, 2011 9:39am
Quoting PhAnTi'
high + spread = stop hit.

anyway 5.0 lot trade with a 30 pip spread.....bro u r sick....approx. ~1500 $ charge : p
Luckily that is a demo account and i am thankful i got that experience while DEMOing.
! high + spread = stop hit. ! THats just what i needed, thank you

I guess i calculated the spread wrong.

Thanks Miky
--Be in the NOW or get lost in time.--
  • #19,511
  • Jun 25, 2011 9:50am Jun 25, 2011 9:50am
Quoting atton
You can enter a trade going by a touch or waiting for a candle formation. It depends on you. Its safer with a candle formation imo. But there are guys here that are killing the market with touch trades. I find the M5 PA unreliable on forex. Commodities are different story. Eg. Find a 1h strong move with the higher tf trend then mark the s/d levels and wait for a 15 min PA. The move can be a 4h or whatever but this you will get with experience and going over the posted charts here.
Thanks for your reply. What I have been doing so far is taking touch trades on major levels that line up with a trend line which seems to work well most of the time. The good thing about touch trades is you can get in with a small stop and move to BE quickly. However, with the smaller time frames this hasn't worked so well so I will try waiting for m15 PA, thanks again.
  • #19,512
  • Jun 25, 2011 10:05am Jun 25, 2011 10:05am
Quoting Ultimatus
Hi guys, I have been following this thread for a number of months and really appreciate the input everyone is making.

I am just wondering, does anyone ever enter at the touch of a level or is it best to always wait for a suitable candle to appear (engulfing/pin)? Also, what time frame is best to look for these reaction candles, assuming one is trading off H1 and M30 supply/demand levels? M5 or M15?
Here is a tech. I want to share
If you are looking for major reversal, it is better to play higher TF ie H1/H4.
Not all engulfer or pin will reverse but if you look for the engulfment of a break out bar ..your chances of winning will be 80% or higher.
I would normally look for the engulfment of a breakout bar(BOB) of a six period fractal in H1 or H4 for a swing...if it is near a supply or demand zone the better.
Attached Image (click to enlarge)
Click to Enlarge Name: eu bob.jpg Size: 88 KB
Attached File(s)
File Type: mq4 i-FractalsEx.mq4   2 KB | 462 downloads
  • #19,513
  • Jun 25, 2011 10:12am Jun 25, 2011 10:12am
Quoting Miky
Luckily that is a demo account and i am thankful i got that experience while DEMOing.
! high + spread = stop hit. ! THats just what i needed, thank you

I guess i calculated the spread wrong.

Thanks Miky
nope u calculated ur stop wrong. always virtual stop + spread = real stop.

anyway i dont have any experiences with dynamic spreads, i prefer playing with fixed ones.

Jonas
Hero calls followed by margin calls...
  • #19,514
  • Jun 25, 2011 10:26am Jun 25, 2011 10:26am
Quoting Myrza
Here is a tech. I want to share
If you are looking for major reversal, it is better to play higher TF ie H1/H4.
Not all engulfer or pin will reverse but if you look for the engulfment of a break out bar ..your chances of winning will be 80% or higher.
I would normally look for the engulfment of a breakout bar(BOB) of a six period fractal in H1 or H4 for a swing...if it is near a supply or demand zone the better.
Another example of the tech. for crude. For commodity like gold, crude or silver , I prefer H4 swing CONFIRMATION.
But me being trigger happy..most of the time I took them at touches ..lol.
Risky though...my advice it is better to wait for confirmation.
Attached Image (click to enlarge)
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  • #19,515
  • Jun 25, 2011 10:33am Jun 25, 2011 10:33am
Quoting PhAnTi'
nope u calculated ur stop wrong. always virtual stop + spread = real stop.

anyway i dont have any experiences with dynamic spreads, i prefer playing with fixed ones.

Jonas

I will keep that in mind and focus more on main currencies.

Thanks again ) Miky
--Be in the NOW or get lost in time.--
  • #19,516
  • Jun 25, 2011 11:47am Jun 25, 2011 11:47am
Quoting Myrza
Here is a tech. I want to share
If you are looking for major reversal, it is better to play higher TF ie H1/H4.
Not all engulfer or pin will reverse but if you look for the engulfment of a break out bar ..your chances of winning will be 80% or higher.
I would normally look for the engulfment of a breakout bar(BOB) of a six period fractal in H1 or H4 for a swing...if it is near a supply or demand zone the better.
Hi Myza,

Your EUR/USD H1 chart show interesting idea of the Breakout Bar, then look for reversal of the Breakout Bar on the higher time frame.

How does fractal work here ?

I saw in your chart what I thought would be a fractal but not shown by the indicator.
I am assuming a Down fractal is a recent swing high for a specific period of time, and then next bar's High is lower.

Where would you Enter and Exit the E/U charts your shown?

As in would you
(i) enter at a Fractal BEFORE the Reversal?
(ii)or enter immediately AFTER the Reversal, below the low of the Breakout Bar?
(iii) or wait for a Down Fractal to enter AFTER the Reversal?

Thanks for your sharing.

Cheers,
FB.
  • #19,517
  • Jun 25, 2011 12:08pm Jun 25, 2011 12:08pm
Watching this for the upcoming week



http://www.hotstockmarket.com/image/...000/height/500
  • #19,518
  • Jun 25, 2011 7:48pm Jun 25, 2011 7:48pm
[quote=foxybunny;4725768]Hi Myza,


As in would you
(i) enter at a Fractal BEFORE the Reversal?
(ii)or enter immediately AFTER the Reversal, below the low of the Breakout Bar?
(iii) or wait for a Down Fractal to enter AFTER the Reversal?

Hi Foxy,
The answer is No (ii).
Fractals are the green colored arrow
Look for fractal breakout immediately on the left. Ignore anything farther away.
Another example for gold swing.
This works on all tf
Attached Image (click to enlarge)
Click to Enlarge Name: gold bob.jpg Size: 90 KB
  • #19,519
  • Jun 25, 2011 8:11pm Jun 25, 2011 8:11pm
i want for confirmation ..I come and see weather any candle formation comes convincing me to enter
if it cant convince then it has to go alone

Quoting Fxfighter
So do u use PO?nor u wait for PA?
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #19,520
  • Jun 25, 2011 8:18pm Jun 25, 2011 8:18pm
Fractal means new low or new high . So if a candle closed engulfed below that with supply then we shd get entry right ?

This looks good technique since new high and new low market buyers or sellers on any tf will be looking for long or short based what it happens .
Higher expereinced traders just enter simply without confirmation after high or low and make money up and down..

This looks interesting fact . Btw may i know wats ur take profit ? i guess ur sl is above the recent high of the tf ..





[quote=Myrza;4726037]
Quoting foxybunny
Hi Myza,


As in would you
(i) enter at a Fractal BEFORE the Reversal?
(ii)or enter immediately AFTER the Reversal, below the low of the Breakout Bar?
(iii) or wait for a Down Fractal to enter AFTER the Reversal?

Hi Foxy,
The answer is No (ii).
Fractals are the green colored arrow
Look for fractal breakout immediately on the left. Ignore anything farther away.
Another example for gold swing.
This works on all tf
Trading is all about probability, low risk/high reward ,buy low/sell high
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