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  • #11,481
  • Sep 13, 2011 7:49pm Sep 13, 2011 7:49pm
Quoting fufighter
I have no idea either, if it were me i'd have got in the same position you did. Anybody have some suggestion? The 1st HA candle look extreme nice.
Hi Guys,
I think this is pretty cut and dry. Place a H-Line at 1.0000 on your USDCAD chart. The price just bounced off the most significant price on the chart. Now scroll back to last month and see what happened the last time we were here.

Now, that is the reason that you lost, and it could have been avoided. However, losing small is part of this system, and that is ok

FS
  • #11,482
  • Sep 13, 2011 8:38pm Sep 13, 2011 8:38pm
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
I know i jumped the gun on this short and should have waited for the new 4h candle, and D1 to shape up... but what are your opinions on a possible upcoming short on E/A?
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  • #11,483
  • Sep 13, 2011 8:52pm Sep 13, 2011 8:52pm
I am not an expert by any means however, in my opinion most of us do fail to recongnize S&R and PPZ. For instance, the probability of USDCAD to go North was very low keeping in view that price has been rejected at this level many times since December 2010. I have attached a daily and 4HR which clearly shows that the area around parity is a like a thick wall and I believe one should not be surprised if a short trade failed around this area with a weak TDI cross.

Just my opinion worth two cents.

P.S. It appears to be an opportunity to go long as price is trying to bounce from TL the third time with a confluence of 61.8 fib. However, a confirmation is still needed - this post script should not be considered as a trading advice.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDCADH4.png Size: 49 KB
Forex is boring but profitable with patience and discipline
  • #11,484
  • Sep 13, 2011 9:58pm Sep 13, 2011 9:58pm
check out gbpaud on the 1H

looks like a valid cross.. waiting for the candle close to enter

Thoughts?
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  • #11,485
  • Sep 13, 2011 10:23pm Sep 13, 2011 10:23pm
I saw all Big E post in this thread. And I summarized the rules of the entry.

normal entry
candle
not small size , first or second
TDI
green crosses red , green angle is 12-2 or 4-6 , green and red are same direction
MA
same direction as TDI
stochasticslope
same direction as TDI , not red color , 20-80%

bounce entry
candle
not small size
TDI
green angle is 12-2 or 4-6 , green between 32-68
MA
same direction as TDI
stochasticslope
not red color , same direction as TDI


Everybody,if these rules is wrong or you have any different rules, please let me know.
  • #11,486
  • Sep 13, 2011 10:32pm Sep 13, 2011 10:32pm
also to the rules above, does it matter if the tdi is above or below the 50 line for proper entry?

Read somewhere that you want the green crossing above 50 downward for a sell. Opposite for a buy. Sorry but I dont feel like rummaging through all of the posts on here.
  • #11,487
  • Edited 10:50pm Sep 13, 2011 10:46pm | Edited 10:50pm
Quoting fivex
I know i jumped the gun on this short and should have waited for the new 4h candle, and D1 to shape up... but what are your opinions on a possible upcoming short on E/A?
You asked, I give my opinion, with all due respect:
a) still 2-1/2 hours until Europe market opens
b) you are afraid of missing out
c) take responsibility for your own trades
d) you need to develop a disciplined approach to trading or you will become addicted to random rewards when you do get a successfull trade

QUOTE:

When you are at peace with not knowing what's going to happen next, you can interact with the market from a perspective where you will be making yourself available to let the market tell you, from it's perspective, what is likely to happen next. At that point, you will be in the best state of mind to spontaneously enter "the zone," where you are tapped into the "now moment opportunity flow."

Mark Douglas - Trading In The Zone
Attached Image (click to enlarge)
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OPPORTUNITY IS NOWHERE
  • #11,488
  • Sep 13, 2011 11:07pm Sep 13, 2011 11:07pm
Quoting Dyekid217
also to the rules above, does it matter if the tdi is above or below the 50 line for proper entry?

Read somewhere that you want the green crossing above 50 downward for a sell. Opposite for a buy. Sorry but I dont feel like rummaging through all of the posts on here.
around post 4887
TDI under 50 buy is better. But there is no rule that it must not sell under 50.
If I find under 50 buy or over 50 sell,I will bet more than usually.
Thank you.
  • #11,489
  • Sep 13, 2011 11:20pm Sep 13, 2011 11:20pm
Quoting Ichinose
around post 4887
TDI under 50 buy is better. But there is no rule that it must not sell under 50.
If I find under 50 buy or over 50 sell, I will bet more than usually.
Thank you.
I don't suppose you have data, say on the last 100 trades, that shows this is a viable money management strategy?
OPPORTUNITY IS NOWHERE
  • #11,490
  • Sep 13, 2011 11:25pm Sep 13, 2011 11:25pm
thanks!

currently up 164+ pips today on 3 diff pairs!
  • #11,491
  • Sep 13, 2011 11:39pm Sep 13, 2011 11:39pm
anyone interested in N/U in about 20 mins?
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  • #11,492
  • Sep 13, 2011 11:46pm Sep 13, 2011 11:46pm
Quoting Callisto
I don't suppose you have data, say on the last 100 trades, that shows this is a viable money management strategy?
I'm sorry, I am a newcomer.
I finished reading this thread yesterday.
Because I am not good at English, I took the time to read
  • #11,493
  • Sep 14, 2011 12:34am Sep 14, 2011 12:34am
Quoting Ichinose
I am a newcomer.
Welcome!
My favorite crochet hook is size J. It's a J-Hook!
  • #11,494
  • Sep 14, 2011 12:46am Sep 14, 2011 12:46am
Thank you dcginc for theanswer.

Anyone in EURAUD long on the D1 today? It looks nice but approaching a weekly resistance so not so sure. Weekly is also in the red but hooked up.
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  • #11,495
  • Sep 14, 2011 12:56am Sep 14, 2011 12:56am
Anyone short on N/U?

A/U look nice but a bit close to 32 line so i pass. G/A got the same condition with N/U but the spread is a bit big

Looking at N/U now, see if it pass s/r around 0.8159 area...
  • #11,496
  • Sep 14, 2011 1:16am Sep 14, 2011 1:16am
Long G/A,

got a decent looking head and shoulders (upside down) pattern, with a cross above the 50 line and the MBL (no 2 or yellow line).

200 pips SL with no TP at this stage, cant see any resistance close by so ill let this one run
Attached Image (click to enlarge)
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  • #11,497
  • Sep 14, 2011 1:20am Sep 14, 2011 1:20am
Quoting fufighter
Anyone short on N/U?

A/U look nice but a bit close to 32 line so i pass. G/A got the same condition with N/U but the spread is a bit big

Looking at N/U now, see if it pass s/r around 0.8159 area...
About 125 pips into that already
Attached Image (click to enlarge)
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OPPORTUNITY IS NOWHERE
  • #11,498
  • Sep 14, 2011 1:52am Sep 14, 2011 1:52am
live trading

sell eurusd h4

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  • #11,499
  • Sep 14, 2011 2:46am Sep 14, 2011 2:46am
Quoting littlebunny
Welcome!
Thank you!
I wish you good luck with you!!
  • #11,500
  • Sep 14, 2011 3:07am Sep 14, 2011 3:07am
eurjpy looking good for a 1HR trade. gonna exit at 8 EDT
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