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Trading Price Pivots

  • #361
  • Jun 28, 2011 6:12pm Jun 28, 2011 6:12pm
VERY IMPORTANT POS OF CHANTALB....

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I think you did not wait for the close of that confirmation candle before entering the trade, because if you had you would have seen it to be a weak bearish one. Also the supposed to be PP candle was a very strong bullish one, I don’t see any rejection of the 38.2 fib…

Guys in order of importance and strength: 61.8% followed by 50% and lastly the 38.2%

I don’t even look at 23.6%!

Chantal
  • #362
  • Jun 28, 2011 6:32pm Jun 28, 2011 6:32pm
Quoting gmcc
Posts 337, 338, 343 & 345 are true training gems. I have paid considerable Usd ($) for much less valuable info. I cannot express my graditude.

A personal note to IB: Get your ARSE back over here and participate.

gmcc
Following your request.

IB
Attached Image
  • #363
  • Jun 28, 2011 6:38pm Jun 28, 2011 6:38pm
ufff wonderful
  • #364
  • Jun 28, 2011 6:50pm Jun 28, 2011 6:50pm
Great response, IB
glad you're back. Could you show price & date on your charts. Tough for an Old man to follow without them.
thanks
gmcc
  • #365
  • Jun 28, 2011 7:57pm Jun 28, 2011 7:57pm
Quoting gmcc
Great response, IB
glad you're back. Could you show price & date on your charts. Tough for an Old man to follow without them.
thanks
gmcc
Someone is only old in is mind, and you do not seem old to me.

Now nzdchf long, in @0.6760, SL 0.6672, R88.
(this pair has a huge spread, at least 6 pips, also I think I am a bit late, I should have been in the trade at least @ 0.6744)

Reasons: Price bounced from 161.8 of bc and crossed back above 127 of ab
breaking the DTL. Confluence of Fibo is not to be underestimate.

Also look at the pattern that formed at reversal on the 1H TF.
And look at what happening at the 4H and D. TF.

Will this work? Probably not. But what I know for sure is that I have a good feel that the market has turned and I am in line with the big guys.

Will that be enough? NO, it won't be, because if one of the big guys get an order to sell nzd I will be at lost, does not matter what my analysis is.

I believe the best way to make money in this business (if you real reason is here to make money....) is to get in sync with the market and place your orders in the path of the flow.

Does experience count? I do not think so. I can see too many "traders" going from blog to blog through the years trying to find a system that will change their way. They will not find it, because is too close to them and they are looking far away. I also noticed that they like to hear fairytales and If you try to open the eyes they get offended because their egos is at risk. There are not fairytales in trading, you are against the very sharp and nasty people around the world. You need to keep this in mind and your ego at bay.

I only hope that I have not bored you with my nonsense.

All The Best
Il Brigante
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  • #366
  • Jun 29, 2011 2:15am Jun 29, 2011 2:15am
Morning folks

Need to get me some coffee... see you in a while
  • #367
  • Jun 29, 2011 2:20am Jun 29, 2011 2:20am
waitting retracment for long....d1-h1

aus-usd....nzd-usd...aus-jpy....nzd-jpy
  • #368
  • Jun 29, 2011 2:31am Jun 29, 2011 2:31am
I will return to using the moving average filter that used to come in PRINCIPLES operations

chantalb, have you look the 200 EMA on h1 to enter the trade?
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  • #369
  • Jun 29, 2011 2:37am Jun 29, 2011 2:37am
Hey Porfirio
If I'm understanding correctly you & I both are looking for a Buy of AudU near 1.0500.
I took the EU yesterday for a short and it is kicking my butt. Not sure if I should have taken a smaller lose when it showed such strong bullish nature.
To anyone, If my assumptions are not correct please let me know.
gmcc
  • #370
  • Jun 29, 2011 2:57am Jun 29, 2011 2:57am
I do not understand English very well .. but I think you owe an apology to IB

Regarding your question, I can not help .... because I analyze the currency pair (eur-usd- w1-h4) a week ago .. and took 180 pips in a short

I'm hoping to break the triangle ... I'm outside
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  • #371
  • Jun 29, 2011 3:03am Jun 29, 2011 3:03am
Quoting gmcc
Hey Porfirio
If I'm understanding correctly you & I both are looking for a Buy of AudU near 1.0500.
I took the EU yesterday for a short and it is kicking my butt. Not sure if I should have taken a smaller lose when it showed such strong bullish nature.
To anyone, If my assumptions are not correct please let me know.
gmcc
Yeah it wasn't very bright of either of us to take EU for a short with the bold engulfing monday candle... My stop hasn't hit so far... we'll see
AU looks good near 1.05, if we get it
  • #372
  • Jun 29, 2011 3:05am Jun 29, 2011 3:05am
with respect to aus-usd ... the fibo tomorrow will expand ... and we'll see
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  • #373
  • Jun 29, 2011 3:13am Jun 29, 2011 3:13am
nzdchf: moved my SL 0.6730. Now I am only risking 30 pips.

The best entry would have been just above the reversal bar indicated at the red harrow. But I do not know how. Any suggestions; Chantalb, Minka, Gmcc, Porfirio or anybody else?
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  • #374
  • Jun 29, 2011 3:29am Jun 29, 2011 3:29am
Quoting gmcc
Hey Porfirio
If I'm understanding correctly you & I both are looking for a Buy of AudU near 1.0500.
I took the EU yesterday for a short and it is kicking my butt. Not sure if I should have taken a smaller lose when it showed such strong bullish nature.
To anyone, If my assumptions are not correct please let me know.
gmcc
Sometimes the big guys if they want go long a position they will try to get it at a better price, they will sell first showing a kind of reversal , so they can trap as many as the can and then they buy, and I think this what has happened with
eurusd.

IB
  • #375
  • Jun 29, 2011 3:31am Jun 29, 2011 3:31am
Quoting il brigante
nzdchf: moved my SL 0.6730. Now I am only risking 30 pips.

The best entry would have been just above the reversal bar indicated at the red harrow. But I do not know how. Any suggestions; Chantalb, Minka, Gmcc, Porfirio or anybody else?
I will have a stab at it though it is not a pair I follow
I don't see how you can enter where you want to using Chantal's method but there is a double bottom and a big bullish engulfing bar and area of support on the hourly chart
Loss of opportunity is preferable to loss of capital
  • #376
  • Jun 29, 2011 3:42am Jun 29, 2011 3:42am
could explain why did you get today in nzd-fco?

following the rules would not be until tomorrow that we have the green light to do

TIME BEFORE you enter .. HOW? WHY? ...


approach would be interesting to see

thanks IB
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  • #377
  • Jun 29, 2011 3:49am Jun 29, 2011 3:49am
Hi guys,

what you think about GU ? 1.6000 level, strong resistance, low daily PP (double bottom pins - 2nd not so clear) and 1H retracement engulfing candle forming, will see how it finish. Want to know your thoughts on this one.

Cheers,
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  • #378
  • Jun 29, 2011 3:56am Jun 29, 2011 3:56am
Porfirio
If your comment about owing IB and appology was for me, then I believe you mis-understood our exchange. I by No means meant any disrespect & I feel IB understands that well.
I am sorry to take up space with this type of non relevant info.
regards gmcc
  • #379
  • Jun 29, 2011 4:04am Jun 29, 2011 4:04am
Quoting porfirio
could explain why did you get today in nzd-fco?

following the rules would not be until tomorrow that we have the green light to do

TIME BEFORE you enter .. HOW? WHY? ...


approach would be interesting to see

thanks IB
Is all in the 365 post. As I said I trade differently,

Chantalb's system is a fantastic system and most importantly works for her and make sense to her. That why she is a winner. She has worked hard and has created a system and she is making money. Not only that but she is also so generous to offer her system to others.

Myself I have learned a lot from her and fused in my own way.

She ask me to show my trades because she is clever and I happy to do so, also because I like the group.

Do not be carried by that trade(nzdchf) it can be only luck.

IB
  • #380
  • Jun 29, 2011 4:10am Jun 29, 2011 4:10am
Quoting porfirio
hi chantalb

maybe you can put a graphic example d its TSL...

need not be now ... when you have time


thanks
Yes here you'll see two diff ways that I use. First is the previous Low to which you can add a buffer for instance of 10 pips if you like. The second is a 3 day Low TSL.

EDIT: Sorry forgot to add where it would have taken us out in chart2... at the top, hope everyone can see it... if not I'll post another chart
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