Price Action Trading with Indicators! The Freebie System | Page 264 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #5,261
  • Sep 15, 2011 8:59am Sep 15, 2011 8:59am
Quoting Dredding82
So......is anyone else LOVING THE PIPS!

If you have not made some KILLER PIPS today....There is something wrong REALLY REALLY WRONG with how you are looking at the charts.
Can you correct my vision!
I saw H1, H4, D1 down, slopping MA down. So, why would I go up?
Yes, I see your trend indicator up, I don't have that one. I know, you are testing it.

Can you tell me, what you saw? That would help me.
Thx
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  • #5,262
  • Edited 9:13am Sep 15, 2011 9:02am | Edited 9:13am
Quoting morris1
Can you correct my vision!
I saw H1, H4, D1 down, slopping MA down. So, why would I go up?
Yes, I see your trend indicator up, I don't have that one. I know, you are testing it.

Can you tell me, what you saw? That would help me.
Thx
It would be nice if you took all the shit off your chart so i could see the period...or atleast say what period you were looking at. Then maybe i could tell you..........But you should ZOOM out of your chart...that might help.
  • #5,263
  • Sep 15, 2011 9:08am Sep 15, 2011 9:08am
Quoting Dredding82
It would be nice if you took all the shit off your chart so i could see the period...or atleast say what period you were looking at. Then maybe i could tell you..........
It's marked with vertical line, at 01:45 EST, it's the one you took.
  • #5,264
  • Sep 15, 2011 9:18am Sep 15, 2011 9:18am
Quoting forexnutter
Below is a post from Dred in his original thread at http://www.forexfactory.com/showthread.php?p=4654040#post4654040
Got a feeling that was directed towards me, since i asked the question! Checking the calendar is something i do. I didnt see anything about ECB news release, just the ECB president speaking later today. How did you know about it? Not trying to be a dick, just so i know in the future!
Damn The Torpedoes, Full Speed Ahead!
  • #5,265
  • Sep 15, 2011 9:22am Sep 15, 2011 9:22am
Quoting DizzleFX
Got a feeling that was directed towards me, since i asked the question! Checking the calendar is something i do. I didnt see anything about ECB news release, just the ECB president speaking later today. How did you know about it? Not trying to be a dick, just so i know in the future!
Wasn't directed towards you mate, just something I remembered and seemed an apt time to post it. I have Bloomberg on the tv during the day just so I know about these unscheduled events as they move the markets.
Your Attitude Determines Your Altitude
  • #5,266
  • Sep 15, 2011 9:29am Sep 15, 2011 9:29am
Quoting forexnutter
Wasn't directed towards you mate, just something I remembered and seemed an apt time to post it. I have Bloomberg on the tv during the day just so I know about these unscheduled events as they move the markets.
Gotcha, thanx! Dont have Bloomberg, but i usually watch the news in the morning just not today. Oh well, the move was in my favor!
Damn The Torpedoes, Full Speed Ahead!
  • #5,267
  • Sep 15, 2011 9:53am Sep 15, 2011 9:53am
Quoting Dredding82
"News of a coordinated bank move"...... major central banks to provide dollar liquidity.....
My mistake. For once it wasn't him........i'm amazed.
  • #5,268
  • Sep 15, 2011 11:22am Sep 15, 2011 11:22am
Quoting morris1
Can you correct my vision!
I saw H1, H4, D1 down, slopping MA down. So, why would I go up?
Yes, I see your trend indicator up, I don't have that one. I know, you are testing it.

Can you tell me, what you saw? That would help me.
Thx
I took a buy at around the same time. The MA slope doesn't matter at all, its sloping down because price is going down thats all. The reason I went in was price hit the pivot at roughly 1.01820 and was rejected sharply, next candle was a bullish engulfing (confirmed by the HA going green) look left on your chart to yesterday, it was also at about yesterdays low. In my case if price had managed to close below the pivot or yesterdays low I wouldn't have thought about buying, but certainly worth the risk as it didn't.
  • #5,269
  • Sep 15, 2011 12:27pm Sep 15, 2011 12:27pm
I didn't catch the large move in AU because I had already come out of my buy (I'm a scalper at heart I think) and there was no decent signal before the leap there for me, but I caught the EJ move. 35 pip stop loss and took it really at the top at R3 It was my 3rd buy on EJ today and by far the best (luckiest)
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  • #5,270
  • Sep 15, 2011 2:39pm Sep 15, 2011 2:39pm
Quoting ohammond
I took a buy at around the same time. The MA slope doesn't matter at all, its sloping down because price is going down thats all. The reason I went in was price hit the pivot at roughly 1.01820 and was rejected sharply, next candle was a bullish engulfing (confirmed by the HA going green) look left on your chart to yesterday, it was also at about yesterdays low. In my case if price had managed to close below the pivot or yesterdays low I wouldn't have thought about buying, but certainly worth the risk as it didn't.
Thanks for your reply, really appreciate it, I can see I need alot of chart time to spend. Plus I'm using camarillas and there was no fail at pivot. But anyway, I probably wouldn't take it, because only M15 went bullish, unless you would be sitting next to me and said, what you said above.
Once again, thanks
  • #5,271
  • Sep 16, 2011 1:18am Sep 16, 2011 1:18am
its 2am friday , back at it live today , waiting for the highest probable setup , to make some pips
  • #5,272
  • Sep 16, 2011 2:19am Sep 16, 2011 2:19am
Took this one just a few ago....already went for a 1:1.7 (risk/reward) moved SL to just below the enter and took some profits off the table...RISK FREE TRADE!
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  • #5,273
  • Sep 16, 2011 4:45am Sep 16, 2011 4:45am
Quoting Dredding82
Load the template with the MTF HA....and what color is your highest HA color when you are looking at a D1 chart? I went short also yesterday off the H1 chart...and LOVING the pips as of right now
This quote is post no 4942 from page 330.
The highest HA (monthly) is red but my question is : does it mean that the highest one has special or most important meaning?

And second question about last trade you take (post no 5275).
I dont understand why did you got short at candle marked red vertical line.
Entry at OPEN two candle later (white line) is confirmed by MTF HA.
You have said many many times (to me also few pages ago ) :look at MTF HA.
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  • #5,274
  • Sep 16, 2011 5:54am Sep 16, 2011 5:54am
Quoting magnepan
This quote is post no 4942 from page 330.
The highest HA (monthly) is red but my question is : does it mean that the highest one has special or most important meaning?

And second question about last trade you take (post no 5275).
I dont understand why did you got short at candle marked red vertical line.
Entry at OPEN two candle later (white line) is confirmed by MTF HA.
You have said many many times (to me also few pages ago ) :look at MTF HA.
not sure if I can answer correctly, but I knocked myself to the wall as I didnt take this trade

first, HA in H4 is Red, so its not bad to trade short

second, look at H1 chart, its a LH after a L,

so its actually a H1 trade, but "early" confirmed by m15

hope my concept is correct.......
  • #5,275
  • Sep 16, 2011 6:08am Sep 16, 2011 6:08am
Thanks Dred,

here's a pic of a trade from today, +40 AUDUSD on 1h. I set 1:1, hope you can read the chart properly. SL under last zz in red, TP in Green. Shot taken after the fact, as I trade with different platform.

Awesome!
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  • #5,276
  • Edited 7:10am Sep 16, 2011 6:56am | Edited 7:10am
Quoting magnepan
This quote is post no 4942 from page 330.
The highest HA (monthly) is red but my question is : does it mean that the highest one has special or most important meaning?

And second question about last trade you take (post no 5275).
I dont understand why did you got short at candle marked red vertical line.
Entry at OPEN two candle later (white line) is confirmed by MTF HA.
You have said many many times (to me also few pages ago ) :look at MTF HA.
1) Ummm...YEA! its called TREND!

2) I did not go short there because the rules were NOT MET for a SHORT at the time(CLOSE) of the white line......DUH! Plus why would i enter another trade when i am ALREADY IN A TRADE on that pair and TF?

And i do not always use the MTF HA indicator...if you would have read the thread you would know that i added it for LAZY MOFOS! that do not understand HH/LL or how to look at 2 charts at once.If you look at my chart you can CLEARLY see the trend indicator i am testing says SHORT MOFO SHORT! MAKE THEM PIPS! lol so i did what the indicators TOLD me to do.......SHORT lol
  • #5,277
  • Sep 16, 2011 7:15am Sep 16, 2011 7:15am
Just took this one i have added where my TSL was hit on my "Risk Free Trade" if i would have left the SL at BE or the SL from entry it would be in alot more profit right now....This new trade is already in profit and moved my SL to below the enter to make it also a "Risk Free Trade"............
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  • #5,278
  • Sep 16, 2011 7:23am Sep 16, 2011 7:23am
Quoting frontline141
not sure if I can answer correctly, but I knocked myself to the wall as I didnt take this trade

first, HA in H4 is Red, so its not bad to trade short

second, look at H1 chart, its a LH after a L,

so its actually a H1 trade, but "early" confirmed by m15

hope my concept is correct.......

Yes and no....Yes about the trend and using H1 for its LH but everything but to me its a M15 trade with the H4 trend. But it could also be a H1 trade with D1 trend because i also got a signal on the H1 on the close of the H1 candle and the trend started to head down on the indicator.. Your getting pretty good though! i might need to stop posting or there will not be any money left for me if everyone gets how SIMPLE it is once they get some chart time. LOL
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  • #5,279
  • Sep 16, 2011 7:32am Sep 16, 2011 7:32am
Quoting b4bg
Thanks Dred,

here's a pic of a trade from today, +40 AUDUSD on 1h. I set 1:1, hope you can read the chart properly. SL under last zz in red, TP in Green. Shot taken after the fact, as I trade with different platform.

Awesome!
Nice trade! I had the setup also but did not take it because i was busy looking at crap on amazon and ebay ....im fricking hooked on them kind of sites!
  • #5,280
  • Sep 16, 2011 7:43am Sep 16, 2011 7:43am
1) Ummm...YEA! its called TREND!

You dont understand my question.
I know that trend on H4 is more important than on H1, and H1 more than on M30 and so on... But in this example MTF HA has 2 red and 2 green dots. And you has focused just on the highest one.Why i should not take care about 2 green dots?

2) I did not go short there because the rules were NOT MET for a SHORT at the time(CLOSE) of the white line......DUH! Plus why would i enter another trade when i am ALREADY IN A TRADE on that pair and TF?

I always enter the trade on the open of the candle. Thats why i marked this one not the previous one. So candle with white line has meet conditions to enter on its open. On its close the lowest MTF HA was green (no entry).

Next time i will mark previous candle to show entry to avoid misunderstanding. You mark entry candle on its close, now i will be doing the some way.
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