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Price Action Trading with Indicators! The Freebie System

  • #3,921
  • Jul 18, 2011 10:25am Jul 18, 2011 10:25am
Quoting Whistlepips
$$$ I could say lucky you, but I know that luck just dont have anything to do with it
Remember that WAGON i told you to get a ticket for last week? Well better get one today for the same trip ...if not today tomorrow before its too late........lol
  • #3,922
  • Jul 18, 2011 10:25am Jul 18, 2011 10:25am
Quoting Dredding82
What alot of you memeber here do not understand is a HH or LL is not just a spike in price that breaks the last high or low...it MUST CLOSE HIGHER or LOWER to be a TRUE HH or LL.....
I cautiously disagree Dredding as surely we'd all be calling them Higher closes and lower closes then.

A Higher High is formed simply when a bar has the High value (of the session) higher than the High of the previous bar.

  • #3,923
  • Jul 18, 2011 10:25am Jul 18, 2011 10:25am
Quoting Dredding82
it was NOT COUNTER TREND...........TREND IS DOWN.....If you take into account the current TREND...the M5 and the HIGHER TF you will make more PIPS......dont just try and trade off of 1 TFs trend...Look at a higher TFs trend and trade with it when the current TF you are trading matches......................TRUST ME PEOPLE! you will be right WAY MORE then you are WRONG...
You're quite right - I suppose I got fixated on the lower TF. Thanks for the talking to Dredding.
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #3,924
  • Jul 18, 2011 10:29am Jul 18, 2011 10:29am
Quoting tritan
I cautiously disagree Dredding as surely we'd all be calling them Higher closes and lower closes then.

A Higher High is formed simply when a bar has the High value (of the session) higher than the High of the previous bar.

WRONG! you can disagree if you want but a HH is not CONFIRMED till the close is HIGHER Then the past HIGH.............a spike in price is also known as a "Whipsaw"...."StopLoss Hunting"....etc.........so you keep trading spikes when its not a confirmed HH or LL with the close being higher/lower.....you will lose more times then if you waited for the close to be higher/lower and for a pull back from that level for enter. If you want to make money STOP THINKING! Stop trying to tell me something you DO NOT UNDERSTAND....JUST LISTEN......That is part of LEARNING!

http://www.youtube.com/watch?v=LiE1VgWdcQM

PS....LOVE THIS SONG! lol
  • #3,925
  • Jul 18, 2011 10:32am Jul 18, 2011 10:32am
Quoting Dredding82
Remember that WAGON i told you to get a ticket for last week? Well better get one today for the same trip ...if not today tomorrow before its too late........lol
Wagon just made a double top. I may take that one to the downhill even though MTF HA is pointing north.
  • #3,926
  • Jul 18, 2011 10:44am Jul 18, 2011 10:44am
Quoting Whistlepips
Wagon just made a double top. I may take that one to the downhill even though MTF HA is pointing north.
WRONG.... MAKING A TRIPLE TOP.......but also made a DOUBLE BOTTOM....its an area of A/D so there might be a price SPIKE(COUGH COUGH) but i bet i get a trade that is a 1:15 or so Risk:Reward of of this pair.....so if my R:R is that great how many times can i be wrong about the top? ALOT lol
  • #3,927
  • Jul 18, 2011 10:47am Jul 18, 2011 10:47am
Quoting Dredding82
WRONG! you can disagree if you want but a HH is not CONFIRMED till the close is HIGHER Then the past HIGH
I still disagree as a HIGHER HIGH is CONFIRMED when the previous HIGH is broken but hey ho will leave it at that

Not trying to p*ss you off BTW.
  • #3,928
  • Jul 18, 2011 10:59am Jul 18, 2011 10:59am
Quoting tritan
I still disagree as a HIGHER HIGH is CONFIRMED when the previous HIGH is broken but hey ho will leave it at that

Not trying to p*ss you off BTW.

Look up "Whipsaw"..........."Stoploss Hunting"......."Market Spikes"......THEY ARE ALL THE SAME! they are there to make you NEWBIES LOSE MONEY!

Now go back on your charts....look at all the SPIKES...when price was closing lower and lower then the last lowest low ....Did you have SPIKES to the upside? HECK YES! did you get hit with a "Whipsaw" or did the "Stoploss hunters" stop you out?DUH! lol. Now did the CANDLE CLOSE HIGER then the last HIGH? More then likely NO! but guess what...you started going long and missed the HUGE DOWN move because you did not CONFIRM THE HIGHER HIGH...........
  • #3,929
  • Jul 18, 2011 11:07am Jul 18, 2011 11:07am
Quoting Dredding82
Look up "Whipsaw"..........."Stoploss Hunting"......."Market Spikes"......THEY ARE ALL THE SAME! they are there to make you NEWBIES LOSE MONEY!

Now go back on your charts....look at all the SPIKES...when price was closing lower and lower then the last lowest low ....Did you have SPIKES to the upside? HECK YES! did you get hit with a "Whipsaw" or did the "Stoploss hunters" stop you out? Now did the CANDLE CLOSE HIGER then the last HIGH? More then likely NO! but guess what...you started going long and missed the HUGE DOWN move because...
I know what they are.

I never said I was going long off a candle that made a higher high or short off a candle that made lower low, especially before the candle closed. I'm not trading breaks of highs or low, i'm trading in the direction of HH&HLs and LH&LLs so if i'm short and +50 pips in a candle takes out the previous lower high that is going to signal to me that buyers are willing to push that price higher than the previous high and therefore its time to analyse the market and see whether or not it might be time to exit as a reversal may be on its way. T'is all.

My stance was just in pointing out how a higher high or a lower low is formed and with all due respect I believe you described it incorrectly.
  • #3,930
  • Jul 18, 2011 11:09am Jul 18, 2011 11:09am
Quoting tritan
I still disagree as a HIGHER HIGH is CONFIRMED when the previous HIGH is broken but hey ho will leave it at that

Not trying to p*ss you off BTW.

UNTILL THE CLOSE OF THE CANDLE .....IT IS NOT A FACT.......Once the CLOSE happens then it becomes a FACT.

Now look up SWING HIGH............SWING LOW.........which are a form of Higher High and Lower Low............but not the TRUE PRICE you need to see for a HH or LL........
  • #3,931
  • Jul 18, 2011 11:12am Jul 18, 2011 11:12am
Quoting tritan
I know what they are.

I never said I was going long off a candle that made a higher high or short off a candle that made lower low, especially before the candle closed. I'm not trading breaks of highs or low, i'm trading in the direction of HH&HLs and LH&LLs so if i'm short and +50 pips in a candle takes out the previous lower high that is going to signal to me that buyers are willing to push that price higher than the previous high and therefore its time to analyse the market and see whether or not it might be time to exit as a reversal may be...
You are not understanding what i am trying to tell you............TO COUNT YOUR HH OR LL you need to look at the CLOSE of the candle with the SPIKE.......if the CLOSE is not a HH or LL then its NO GOOD! lol...just go back to your charts with what i have told you........LOOK FOR YOURSELF! Then PM me if you want to try and talk HH or LL...........and dont look at the M5....NOISE will kill a NEWBIE!
  • #3,932
  • Jul 18, 2011 11:14am Jul 18, 2011 11:14am
Quoting Dredding82
WRONG.... MAKING A TRIPLE TOP.......but also made a DOUBLE BOTTOM....its an area of A/D so there might be a price SPIKE(COUGH COUGH) but i bet i get a trade that is a 1:15 or so Risk:Reward of of this pair.....so if my R:R is that great how many times can i be wrong about the top? ALOT lol
Youre right (as usual).
I was looking on those smaller tf´s. It made a kind of double top there. Whats an A/D btw. Im quessing not anno domini anyways
  • #3,933
  • Jul 18, 2011 11:15am Jul 18, 2011 11:15am
Quoting Dredding82
You are not understanding what i am trying to tell you............TO COUNT YOUR HH OR LL you need to look at the CLOSE of the SPIKE.......if the CLOSE is not a HH or LL then its NO GOOD! lol...just go back to your charts with what i have told you........LOOK FOR YOURSELF! Then PM me if you want to try and talk HH or LL...........and dont look at the M5....NOISE will kill a NEWBIE!
I do understand what you are trying to say, I just believe you are wrong but think i'll just stop now as we're probably both banging our heads off the wall on this one and best to not de-rail an excellent thread.
  • #3,934
  • Jul 18, 2011 11:21am Jul 18, 2011 11:21am
Quoting Whistlepips
Youre right (as usual).
I was looking on those smaller tf´s. It made a kind of double top there. Whats an A/D btw. Im quessing not anno domini anyways

Accumulation/Distribution....Look it up but its a fancy way of saying RANGE............lol
  • #3,935
  • Jul 18, 2011 12:03pm Jul 18, 2011 12:03pm
Quoting Dredding82
Accumulation/Distribution....Look it up but its a fancy way of saying RANGE............lol
Thanks.
  • #3,936
  • Jul 18, 2011 12:55pm Jul 18, 2011 12:55pm
will try and post 4 charts tonight but rushing its my Wing Chung night

saved today by 15% wins


GU 5%-5%+15%-5% = +10%
UC no trade
EU -5%-5%-5%+15%-5% = -5%
AU -5%+15%-5% = +5%

ROC +10%

P
  • #3,937
  • Jul 18, 2011 1:19pm Jul 18, 2011 1:19pm
Hi Dredd and everyone,

Really busy last days, so I have to move to M15 for tomorrow, don't have time to monitor M5 trades..... Sure, pips are waiting for us....
  • #3,938
  • Jul 18, 2011 6:15pm Jul 18, 2011 6:15pm
Jumped on the pip train, headed to Pip-ville!

Attached Image (click to enlarge)
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Damn The Torpedoes, Full Speed Ahead!
  • #3,939
  • Jul 18, 2011 6:48pm Jul 18, 2011 6:48pm
closed it out for 20 pips, 1:1.1.
Damn The Torpedoes, Full Speed Ahead!
  • #3,940
  • Jul 19, 2011 3:23am Jul 19, 2011 3:23am
is it me or have there not been many Freebie trades lately? I mean m15 freebie trades not m5 Paulus style.
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