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Price Trap Eur/Usd 1 MIN

  • #421
  • Oct 4, 2011 2:19am Oct 4, 2011 2:19am
Quoting Leokira
Raz

Thanks for a good thread, I'm in at 3199, come what may, I like your method and will keep at it for sometime.

why 3199 ?
  • #422
  • Oct 4, 2011 2:23am Oct 4, 2011 2:23am
It broke lower level and it was where my market order put me in, when I first looked at the trap I thought it was making a double top when viewed on 15m and there is a daily pivot 20pips above the trap high, so I hesitated when pa broke and closed above. But I am no expert.
Vandag is die dag.....
  • #423
  • Oct 4, 2011 2:37am Oct 4, 2011 2:37am
Quoting Leokira
It broke lower level and it was where my market order put me in, when I first looked at the trap I thought it was making a double top when viewed on 15m and there is a daily pivot 20pips above the trap high, so I hesitated when pa broke and closed above. But I am no expert.

so i gather you are short.

i didnt take the short because as i understand the rules, if the first trade fails, then you dont enter in the opposite direction. just wait for the next setup....

i dont see a daily pivot you mention..
  • #424
  • Oct 4, 2011 2:39am Oct 4, 2011 2:39am
I decided not to enter long because H-1 stochastic was well above 80 and I was expecting the move down. Besides I didn't like the M-1 PA and the movement didn't look good.

I entered short at 1.32050, the TP 30 pips got hit in less than 15 minutes. Last week I was testing with 0.01 lot, but this session I traded the system with a full lot. Thank you, raz!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #425
  • Oct 4, 2011 2:41am Oct 4, 2011 2:41am
trap ?

upper 3189

lower 3173
  • #426
  • Oct 4, 2011 2:44am Oct 4, 2011 2:44am
Quoting Favorite
I decided not to enter long because H-1 stochastic was well above 80 and I was expecting the move down. Besides I didn't like the M-1 PA and the movement didn't look good.

I entered short at 1.32050, the TP 30 pips got hit in less than 15 minutes. Last week I was testing with 0.01 lot, but this session I traded the system with a full lot. Thank you, raz!

  • #427
  • Oct 4, 2011 2:45am Oct 4, 2011 2:45am
Quoting whatfx
i didnt take the short because as i understand the rules, if the first trade fails, then you dont enter in the opposite direction. just wait for the next setup....
I think a trap is a trap. When I saw that the long breakout was a fake, I fixed the trap a little bit, made an upper level 1.32263 instead of 1.32245, and that's it.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #428
  • Oct 4, 2011 2:45am Oct 4, 2011 2:45am
Possible Trap :- High 1.3189 and Low 1.3173. Has just broken out as I am typing, wait for a retrace!
Attached Image
  • #429
  • Oct 4, 2011 2:47am Oct 4, 2011 2:47am
I think a new trap is forming. Good luck, everybody, and have a nice session!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #430
  • Oct 4, 2011 2:49am Oct 4, 2011 2:49am
Daily pivot as supplied by IBfx, i got out at 3177 for 22 pips, too nervous to wait longer, but I am sure it will hit target.

Done for this morning, will come back later to try it in the EU/US overlap.

Sorry I was not aware of the rule, only read this thread last night.
Vandag is die dag.....
  • #431
  • Oct 4, 2011 2:54am Oct 4, 2011 2:54am
... to see how the scalpers are doing? how are you finding the EURO? seems pretty easy to me, it is one of my FAVORITE pair to trade patience pays for me
Attached Image (click to enlarge)
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OPPORTUNITY IS NOWHERE
  • #432
  • Oct 4, 2011 2:55am Oct 4, 2011 2:55am
Quoting Favorite
I think a trap is a trap. When I saw that the long breakout was a fake, I fixed the trap a little bit, made an upper level 1.32263 instead of 1.32245, and that's it.

how did you know it was a fake ? why did you wait and not enter. you cant tell if it is a fake, until you are stopped out.. and why did you enter on the short side ? only 1 trade per setup as per rules.
  • #433
  • Oct 4, 2011 2:56am Oct 4, 2011 2:56am
Quoting pete123
Possible Trap :- High 1.3189 and Low 1.3173. Has just broken out as I am typing, wait for a retrace!

yes gj, and I got in at 1.3171, so a little slip.... but holding short
Trade Like a Robot make money Like a Bank
  • #434
  • Oct 4, 2011 3:10am Oct 4, 2011 3:10am
Callisto

If real money its impressive, if demo it doesn't mean s%$t.
Vandag is die dag.....
  • #435
  • Oct 4, 2011 3:13am Oct 4, 2011 3:13am
Quoting raz
yes gj, and I got in at 1.3171, so a little slip.... but holding short
m in on it too.

well, iam in on it too.

if this one gets stopped out, then i aint touching eu for the day.
  • #436
  • Oct 4, 2011 3:19am Oct 4, 2011 3:19am
Quoting whatfx
how did you know it was a fake ? why did you wait and not enter. you cant tell if it is a fake, until you are stopped out.. and why did you enter on the short side ? only 1 trade per setup as per rules.
As I said before, I decided not to enter mostly because my 8,3,3 stochastic on H-1 was almost 90. I made decision not to enter long before the upper level was broken. raz goes where the currency goes, but unlike him I don't have several months' of trading this system, so I decided to check with H-1. I'm not the only one, forexforex checks with the H-1 too, I got this idea from him (thank you, forexforex!). So basically I decided to take only short entries before I started trading.

I disagree that you can't know know that it is a fake before SL. Since I saw that it went only 2-3 pips above the upper level and reversed, I knew it was a fake. The upper level is not made of stone... I would agree about, let's say, 5-7 pips, but 2-3 pips?
Gentlemen always play by the rules. If they can't, they change the rules.
  • #437
  • Oct 4, 2011 3:20am Oct 4, 2011 3:20am
Raz, hope you don't mind me posting this.
For those who are prepared to be patient, have a look and learn.
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  • #438
  • Oct 4, 2011 3:24am Oct 4, 2011 3:24am
Quoting raz
yes gj, and I got in at 1.3171, so a little slip.... but holding short
I was a little slow, entered short at 1.31647, decided to exit with a small profit at 1.31543. Well, +10 pips is better than a possible loss IMHO.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #439
  • Oct 4, 2011 3:29am Oct 4, 2011 3:29am
Quoting Favorite
As I said before, I decided not to enter mostly because my 8,3,3 stochastic on H-1 was almost 90. I made decision not to enter long before the upper level was broken. raz goes where the currency goes, but unlike him I don't have several months' of trading this system, so I decided to check with H-1. I'm not the only one, forexforex checks with the H-1 too, I got this idea from him (thank you, forexforex!). So basically I decided to take only short entries before I started trading.

I disagree that you can't know know that it is a...

good to know.

but i disagree that only 2-3 pips break and reverse should be assumed to be fake. many times it can go back up.

  • #440
  • Oct 4, 2011 3:34am Oct 4, 2011 3:34am
Quoting Callisto
... to see how the scalpers are doing? how are you finding the EURO? seems pretty easy to me, it is one of my FAVORITE pair to trade patience pays for me
Callisto, how was your vacation?

Sorry for the off-top, but are you a girl or a guy?
Gentlemen always play by the rules. If they can't, they change the rules.
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