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  • #476,801
  • Jun 30, 2011 8:24am Jun 30, 2011 8:24am
Quoting cloggie
I am being way too nice here, can someone please p!ss me off so I can revert back to being an @rsehole again.
It's nice to see someone who understands price action instead of talking about some lagging candlechart closing..after 4o pips already moved by. Keep it coming!
  • #476,802
  • Jun 30, 2011 8:24am Jun 30, 2011 8:24am
on the down side:

4460,4442,4436(big one), 31,26,18,13(big), 07,4399,4392
  • #476,803
  • Jun 30, 2011 8:25am Jun 30, 2011 8:25am
Here is what I have.....

4HR is in Dark Purple and 1HR is in Dark Blue....

5min is light blue.....

As you can see the 4HR held PA right around support...and 1HR MTL is holding price from going up at the moment....there appears to be more support at this level.....

I was trying to get in around 4460 on a re-test on 5min Pitchfork to confirm we have put in a LOW for today....

Cloggie or anyone else that wants to tweak my trading..its ok....you too Sissie ....I have big shoulders...
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  • #476,804
  • Jun 30, 2011 8:26am Jun 30, 2011 8:26am
Quoting cloggie
I am being way too nice here, can someone please p!ss me off so I can revert back to being an @rsehole again.
damn cloggie, that's a pile of BS you got there. Why would anyone with their mind expect the market to move above 4450?! Its OBVIOUS we are on the top of the move and everyone should short the 400 pip drop that comes in 7 minutes!!! I'm making a living here from trading 432234 pips every day and I already made 800 today by adding 50 lots of 2000$ right @ 4518!

That does the job? Or do I need to put more efforts?
  • #476,805
  • Jun 30, 2011 8:26am Jun 30, 2011 8:26am
Quoting attila
For those this pair did jack shit besides a nice and orderly 70 pips drop here are the levels:

79,86,99,4404,08,14

enjoy.
It felt like a drifting, constipated drop... were you able to play the downside drop earlier, or did that just help to confirm the levels?
What we obtain too cheap, we esteem too lightly.
  • #476,806
  • Jun 30, 2011 8:26am Jun 30, 2011 8:26am
Watch EUR/CHF
Don't get mad, get even!
  • #476,807
  • Jun 30, 2011 8:27am Jun 30, 2011 8:27am
Quoting Stretch
No please not! Just so calm and zen in here right now

But just to help me understand more. So it just tested 63-68 area again. But do you wait until it hits (&bounces) it again for taking a position?
It's now hitting the 79 right? Does that mean it will try 86-88 again and then 99?

You use these levels and if-then-if to either get in a trade, stay in a trade, scale into your existing trade or use them if you are late to the party and have missed the earlier move to join in halfway at a safe place with little drawdown.

But yes you constantly look at your triggers both ways to see where we are going next, whether a move is sustained or if we get a rejection to move back down to a lower level, to either pickup some more orders or change direction again. Keep in mind also that eu moves in blocks, you just need to figure out how large those chunks are, they change day by day. A rough guide is 20 pips.
  • #476,808
  • Jun 30, 2011 8:27am Jun 30, 2011 8:27am
Quoting cloggie
You got it, simples. That's how those numbers work, you just got to find them, it is all in the chart right in front of you.
yeah, that looks simple but when you have to press the button, you realise that you are a small fearful emotive human.

I got another question about managing trades.
I mean if i have entered 1.4461 i could have targetted 1.4479 or 1.4488 or 1.4499 or 1.4520.

My major problem here is how to manage my stop like how to adjust it, when move it to 1.4478 etc..to avoid that a winner becomes a looser but meanwhile avoid a 10 pips winner when you can have a 50 pips winner.

We are retesting 1.4466 and 1.4478..let's see
  • #476,809
  • Jun 30, 2011 8:29am Jun 30, 2011 8:29am
Quoting landre
yeah, that looks simple but when you have to press the button, you realise that you are a small fearful emotive human.

I got another question about managing trades.
I mean if i have entered 1.4461 i could have targetted 1.4479 or 1.4488 or 1.4499 or 1.4520.

My major problem here is how to manage my stop like how to adjust it, when move it to 1.4478 etc..to avoid that a winner becomes a looser but meanwhile avoid a 10 pips winner when you can have a 50 pips winner.

We are retesting 1.4466 and 1.4478..let's see

Right now your stop should be at 63 if you expect this to go further, never ever give profit back to the market, get that stop up as soon as you can. She is being stubborn here but she still sits right in between the earlier numbers.

Again this all depends on your trading style, do you aim for the 10-20 pip runs or the 80-100 pip runs and based on at least 1,000 trades on this pair on a demo account what style gives you the best edge.

If your edge is the smaller trades, then look at my earlier post on how you could have managed that last move with a trailing stop. It all depends on your trading style, but using these if-then-if suits both the scalper and the longer term intraday trader.
  • #476,810
  • Jun 30, 2011 8:30am Jun 30, 2011 8:30am
Quoting Capn79
It felt like a drifting, constipated drop... were you able to play the downside drop earlier, or did that just help to confirm the levels?
no. i woke up late, didn't play the drop. the neighbor tv pissed me off last night...
  • #476,811
  • Jun 30, 2011 8:30am Jun 30, 2011 8:30am
  •  mrmat
  • | Joined Sep 2010 | Status: One day I shall leave the temple | 131 Posts
Thanks for the breakdown Clogs, helps us young guns tryin' to make it out here.
  • #476,812
  • Jun 30, 2011 8:31am Jun 30, 2011 8:31am
Somebody is in a super generous mood today..

Just to expand on this play by play here, we had 53, most here agreed on where that came from, we had 63 of the earlier move down, that triggered 66 and 79, we had a bit of an overshoot, no momentum to move further up so now we are testing the bottom again to see if that holds for the next leg up, so now you need to watch 63,65,66 again to see how that holds for a clear break of 79, a close above it, with the momentum to carry it through, all you need to do then is find the next trigger and target levels. A continuous if-then-if you just keep repeating over and over again, all day long. Some just trade the small moves for 10-20 pips, others just use them to adjust stops and scale into trades for 80-100 pips, all depends on your trading style really.

Thanks and try remain so :-)
  • #476,813
  • Jun 30, 2011 8:31am Jun 30, 2011 8:31am
I have been breaking them down in Approx 30 pips lately....nice obsy...thx for a little time this morn...

Quoting cloggie
You use these levels and if-then-if to either get in a trade, stay in a trade, scale into your existing trade or use them if you are late to the party and have missed the earlier move to join in halfway at a safe place with little drawdown.

But yes you constantly look at your triggers both ways to see where we are going next, whether a move is sustained or if we get a rejection to move back down to a lower level, to either pickup some more orders or change direction again. Keep in mind also that eu moves in blocks, you just need to figure out how...
  • #476,814
  • Jun 30, 2011 8:31am Jun 30, 2011 8:31am
Hi

Pattern 123
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  • #476,815
  • Jun 30, 2011 8:31am Jun 30, 2011 8:31am
Quoting Capn79
It felt like a drifting, constipated drop... were you able to play the downside drop earlier, or did that just help to confirm the levels?
if you look back in my posts I gave you the top at 4508 last night(actually it was around ty open). cloggie was a tad higher.
  • #476,816
  • Jun 30, 2011 8:32am Jun 30, 2011 8:32am
Quoting cloggie
You use these levels and if-then-if to either get in a trade, stay in a trade, scale into your existing trade or use them if you are late to the party and have missed the earlier move to join in halfway at a safe place with little drawdown.

But yes you constantly look at your triggers both ways to see where we are going next, whether a move is sustained or if we get a rejection to move back down to a lower level, to either pickup some more orders or change direction again. Keep in mind also that eu moves in blocks, you just need to figure out...
Thank you! Yes I already use the 20 pips blocks like Gleneagles for dustbin trades, after you wrote about it months ago. And trying to see the levels.
Just put some other levels on my chart also, they seem to be verified most of the time. But I don't have so much levels as you and Attila just posted. Is your chart full of those lines, or looking purely on PA for detecting those levels?
  • #476,817
  • Jun 30, 2011 8:32am Jun 30, 2011 8:32am
Quoting cloggie
Right now your stop should be at 63 if you expect this to go further,
Thinking same.
  • #476,818
  • Jun 30, 2011 8:32am Jun 30, 2011 8:32am
What's up with the swissie? Lucky I'm not in against it as I predicted...
Don't get mad, get even!
  • #476,819
  • Jun 30, 2011 8:33am Jun 30, 2011 8:33am
Quoting attila
no. i woke up late, didn't play the drop. the neighbor tv pissed me off last night...
It seemed as though it was consolidating on the M30... and then drifting down... with very little movement till NY. Was there a way to play the drop other than scalping here and there? I pretty much sat until the bounce off 53 and the doji print on M30...
What we obtain too cheap, we esteem too lightly.
  • #476,820
  • Jun 30, 2011 8:34am Jun 30, 2011 8:34am
Thanks Attila! Appreciate the help....thanks Cloggie for helping as well....

What TF chart do you trade from to watch these levels?

A play by play would be helpful as well to see exactly what you are seeing...I am a visual learner and if I can see something as it is being written...I learn better....

Thanks
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