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Trading Major Lines

  • #1,441
  • Aug 9, 2011 4:13pm Aug 9, 2011 4:13pm
Quoting zusch
Just took a 700 pip winner on USDCHF...then it fell another 200 pips! Absolute crazy last couple weeks. I must say it feels good to finally get some momentum behind a trade. Thanks again Nomask for sharing your strategy as I am finally feeling comfortable. Next time I'll hang on for the full 1000.
Killer trade... congratulations, Zusch!
  • #1,442
  • Aug 9, 2011 4:56pm Aug 9, 2011 4:56pm
Quoting zusch
Just took a 700 pip winner on USDCHF...then it fell another 200 pips! Absolute crazy last couple weeks. I must say it feels good to finally get some momentum behind a trade. Thanks again Nomask for sharing your strategy as I am finally feeling comfortable. Next time I'll hang on for the full 1000.
Congratulations !

I was reading again in this valuable thread and noticed that Nomask added further content to his first posts. Very good !

Edit : I noticed this : ( quote ) :

Move#3
When move#2 ended by a bullish engulfing bar I thought that was a continuation of the down move but this time price was just testing %50 level of the move#3 with a pinbar.
( End quote )

I might be totally wrong, but shouldn`t it be : when move #2 ended with a bearish engulfing bar.........etc.......was just testing %50 level of the move #2 with a pinbar.

Please feel free to delete my post if I am wrong.....

But anyway, great thread and I hope everyone benefits.



______________
michael
Be like water.
  • #1,443
  • Aug 10, 2011 8:49am Aug 10, 2011 8:49am
hello everyone!

I just went through nomask's thread from page 1 till the end.

with this method I have taken 3 trades for Usd/Cad

feel free to comment
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad(daily).gif Size: 36 KB
Click to Enlarge Name: usdcad(4hr).jpg Size: 79 KB
  • #1,444
  • Edited 10:17pm Aug 10, 2011 8:47pm | Edited 10:17pm
Thanks guys.

Back in USDCHF momentarily. Not thrilled with how that candle finished but will hold on.

Edit: Out with minimal loss.
Attached Image (click to enlarge)
Click to Enlarge Name: 8.11.11 USDCHF.jpg Size: 208 KB
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #1,445
  • Aug 13, 2011 6:42pm Aug 13, 2011 6:42pm
CHF pairs are looking very interesting this week. Should be another volatile week and I'm prepared to trade both ways hopefully to catch the start of a big up trend, but CHF def has the room to appreciate more.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #1,446
  • Aug 13, 2011 9:30pm Aug 13, 2011 9:30pm
I've read the first few hundred posts of this, and I am still confused about the timeframes being traded.

It seems like it's the weekly, but that the 4h is being analyzed, and all entries are conducted in regards the 5m. Then I hear of four signals a day sometimes lol, which really wouldn't happen trading the 4h or weekly.

Now, really being able to make a 1000 pips trading the weekly off the 5m implies one has hit that one 5m occurrence that starts a new trend. How does this method pinpoint that perfect of an entry?

This leads me to suggest something similar to my method of trading higher timeframes by waiting for divergence to occur on a timeframe 4-6x smaller. So wait for a divergence to occur on the daily if trading the weekly, on the 4h if trading the daily, etc. This is the best method I've found to pinpoint entries.

I'm also confused about the "major lines", and how they are arrived at. Thanks for any clarification.
  • #1,447
  • Aug 14, 2011 2:16am Aug 14, 2011 2:16am
[quote=Fx93;4868025]I've read the first few hundred posts of this, and I am still confused about the timeframes being traded.

you have a motive of promoting your own trades and methods.
If not then re-read the thread untill you understand.
This is one of the clearest and easiest threads, to read, don't be Lazy, read all of Nomask's posts.
Have you done any research on your own for Major lines.
No one here is going to trade for you, you need to do that and hopefully you do the work before you do.

Good Luck.
  • #1,448
  • Aug 14, 2011 7:46am Aug 14, 2011 7:46am
Lol, thanks for the explanation...so helpful.
  • #1,449
  • Aug 14, 2011 8:34am Aug 14, 2011 8:34am
by reading your trading journey . i can read the story of ur life by looking @ ur messy charts.,,,, just woundering how u didnt understand this thread,,,,??? did u read it seriously? i bet not ciao ciao bello
  • #1,450
  • Aug 14, 2011 10:14am Aug 14, 2011 10:14am
If the attitudes displayed by the recent thread participants is any indication of the viability of the underlying method...I would look elsewhere, and will.
  • #1,451
  • Aug 14, 2011 10:29am Aug 14, 2011 10:29am
Quoting Fx93
If the attitudes displayed by the recent thread participants is any indication of the viability of the underlying method...I would look elsewhere, and will.
Well to be honest when I read your post, "I'm also confused about the "major lines", and how they are arrived at. Thanks for any clarification." my first reaction was that you indeed did not read the thread because that is the main fundamental idea Nomask has taught us. You have asked some of the most basic questions so like Red-Dragon said you may want to go back and re-read the thread so you can properly understand.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #1,452
  • Aug 14, 2011 11:20pm Aug 14, 2011 11:20pm
how about AUD, i see opportunity enter long this week, cause have a pinbar last week at 1.0
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: aud 1000 h4.gif Size: 13 KB
  • #1,453
  • Aug 15, 2011 8:41pm Aug 15, 2011 8:41pm
Zora,
NZDUSD setup looks similar to AUDUSD. Also wkly pinbar at round no. 0.8. Did u get a chance to enter AUDUSD? When I look back at AUDUSD chart, if there is any entry on M5, its probably a breakout type of entry but would be stopped out if I'm not wrong.
  • #1,454
  • Aug 15, 2011 8:48pm Aug 15, 2011 8:48pm
Quoting Fx7877
Zora,
NZDUSD setup looks similar to AUDUSD. Also wkly pinbar at round no. 0.8. Did u get a chance to enter AUDUSD? When I look back at AUDUSD chart, if there is any entry on M5, its probably a breakout type of entry but would be stopped out if I'm not wrong.
cause i wait for a good position to enter long near the trendline , but it up without down back so i miss it
  • #1,455
  • Aug 17, 2011 9:23pm Aug 17, 2011 9:23pm
Good example that good trades can happen at any time of the day.
Attached Image (click to enlarge)
Click to Enlarge Name: 8.18.11 EURUSD.jpg Size: 204 KB
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #1,456
  • Aug 24, 2011 5:14pm Aug 24, 2011 5:14pm
heyy guys have any one made a PDF document about nomask's posts ?
  • #1,457
  • Edited 11:44am Aug 25, 2011 11:27am | Edited 11:44am
Quoting semi
heyy guys have any one made a PDF document about nomask's posts ?
Yes some one made it
http://www.forexfactory.com/showthre...12#post4517712

http://www.forexfactory.com/showthre...22#post4517722
  • #1,458
  • Edited Aug 26, 2011 10:38am Aug 25, 2011 8:45pm | Edited Aug 26, 2011 10:38am
hello guys... i know it has turned into a usual ritual that everybody starts the posts by telling how thankful they feel against nomask.I dont enjoy being "ordinary" but i also feel thankful to nomask for this wonderful approach whcih turns the dangerous forex atmosphere into a river where u can fish ...(in short : thank you nomask) i have read almst the whole thread but still have problems about identifying the entry signals on lower timeframes (4H and 5M charts) ...there are three possible fibo levels as i read where the expeced pin bar shud be located (0,382 - 0,50 - 0,618 ) ...is it right up to now? and wat if the price is ranging and there are lots of pin bars ? should we try every chance? I know that there is something i didnt understand clearly in this system..and it is the part right after going to lower time frames... For example..now i am focusing on USDCHF pair which is veeeery close to the major line 0,8 and the price have been ranging there for almost 2 weeks,and the trendlines (if u draw them) easily show that there might happen a reversal.The previous week candle seems to be a pin bar showing downwards direction...and when i put fibo on that candle....the problem starts here..i dont know wat to do is it possible for anyone to explain the situation to me? regards...again thank you for this great and essential thread...
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #1,459
  • Aug 26, 2011 10:33am Aug 26, 2011 10:33am
My short usdchf orders were stopped..and the weekly candle just passed above the 0.8 major line...if the candle ends somewhere above the major line then it will be a wonderful setup candle for us for the next week...Am i true up to now?
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #1,460
  • Aug 26, 2011 2:53pm Aug 26, 2011 2:53pm
Quoting selym_co
The previous week candle seems to be a pin bar showing downwards direction...and when i put fibo on that candle....the problem starts here..i dont know wat to do. is it possible for anyone to explain the situation to me? regards...again thank you for this great and essential thread...
I've been watching USDCHF closely too and I have no idea where price will go. I actually tried trading both directions this week but wasn't having any success so I just stopped watching. I'm extremely unsure of where we are going next so I simply don't trade. This is looking like a good close to go long next week but don't get caught up too much as we could easily be range bound for a couple more weeks. I will only be taking the very best long setups but otherwise I will be trading as little as possible.

As Graeme would say, "You can never be too late in Forex, but you can be too early." Should USDCHF head to the upside the next couple months, there will be a lot of chances to get in, but there is no sense in trading a market that could be entering a ranging phase.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
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