Islander and Medici trade the European open | Page 160 | Forex Factory

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Islander and Medici trade the European open

  • #3,181
  • Nov 9, 2011 1:03am Nov 9, 2011 1:03am
Quoting nhen
I'm long here too but I am wary of resistance on 15M, might cop it here.
Got out, shorted at 3800.
  • #3,182
  • Nov 9, 2011 1:03am Nov 9, 2011 1:03am
Quoting Islander
Not easy this morning as just using my normal MA is giving false buys, so need to watch a slower MA as a filter.....the slower MA is still heading south......but slowing as price holds around the confluence of the 61% fib, **75 SS and todays MS 1 level, so a better possibility of a bounce.....TWT

The next support is clustered around todays S1 at 3757....
Just stopped at BE..

Islander, how do you decide when to deploy your slower MA?
Follow, don't anticipate.
  • #3,183
  • Nov 9, 2011 1:08am Nov 9, 2011 1:08am
Quoting nhen
Got out, shorted at 3800.
Covered 3770, perhaps could have held longer but still not confident in my ability to pick points where price might turn yet.
Watch her drop another 50 pips now
  • #3,184
  • Nov 9, 2011 1:11am Nov 9, 2011 1:11am
Quoting nhen
Got out, shorted at 3800.
Quoting nhen
Covered 3770, perhaps could have held longer but still not confident in my ability to pick points where price might turn yet.
Watch her drop another 50 pips now
Very nicely done, evening star pattern on m5, m15 SS... I missed it..
Follow, don't anticipate.
  • #3,185
  • Nov 9, 2011 1:17am Nov 9, 2011 1:17am
Quoting Ian
Very nicely done, evening star pattern on m5, m15 SS... I missed it..
Cheers matey, only just caught it as I had been looking at the resistance we were touching from Monday. So was wary of my long and ready to reverse.
Look how much I left on the table.. A long way to go for me, how do you do this exiting thing guys?
  • #3,186
  • Nov 9, 2011 1:23am Nov 9, 2011 1:23am
Quoting nhen
Cheers matey, only just caught it as I had been looking at the resistance we were touching from Monday. So was wary of my long and ready to reverse.
Look how much I left on the table.. A long way to go for me, how do you do this exiting thing guys?
You got 30 more than me...
Follow, don't anticipate.
  • #3,187
  • Nov 9, 2011 1:25am Nov 9, 2011 1:25am
Quoting Ian
You got 30 more than me...
Reckon we're heading for Friday's low here?

EDIT - Well yesterdays
  • #3,188
  • Nov 9, 2011 1:43am Nov 9, 2011 1:43am
Nice pips guys.....my higher TF - 15m - MA was always heading down - a warning to be careful with buys. The 5m MA did turn up, but the range held with the 8 small candles just above the DP catching my attention as I waited to see IF there was a wide ranged candle breakout upwards.

Instead there was a quick 8 candle pull back before the breakout came after 2 hours inside the range, a typical time to allow the big guys to load up shorts at a good price before the ultra wide ranged candle confirmed the breakout to the down side.

So far the area around yesterdays low is holding - just - with todays range at 144 pips vs the 5 day ADR at 204....
Trading Levels with WRBs
  • #3,189
  • Nov 9, 2011 1:43am Nov 9, 2011 1:43am
8.30pm here which is my sign off time, gonna walk the dog and eat dinner.


Quoting Islander
....food for thought....
Interesting.. candle alert size?

Quoting nhen
Watch her drop another 50 pips now
Almost to the pip Oop and still going..
  • #3,190
  • Nov 9, 2011 1:58am Nov 9, 2011 1:58am
Quoting Islander
Nice pips guys.....my higher TF - 15m - MA was always heading down - a warning to be careful with buys. The 5m MA did turn up, but the range held with the 8 small candles just above the DP catching my attention as I waited to see IF there was a wide ranged candle breakout upwards.

Instead there was a quick 8 candle pull back before the breakout came after 2 hours inside the range, a typical time to allow the big guys to load up shorts at a good price before the ultra wide ranged candle confirmed the breakout to the down side.

So far the area...
Thanks very much for that extra information and analysis this morning, great stuff as usual.
Follow, don't anticipate.
  • #3,191
  • Nov 9, 2011 2:08am Nov 9, 2011 2:08am
Quoting Ian
Thanks very much for that extra information and analysis this morning, great stuff as usual.
You're welcome - sometimes writing up a post like that helps me to clarify what I'm seeing http://www.forexfactory.com/images/icons/icon6.gif

I've also attached the candle size alert - I usually just put it on when price is in a range - in a move its too much clutter...

3700 area holding - for now?.....next support is around Mondays Low at 3682 and below that the 3650 area with last Thusdays lows - that would make todays range ~206 pips.....
Attached File(s)
File Type: mq4 CandleSizeAlert.mq4   4 KB | 253 downloads
Trading Levels with WRBs
  • #3,192
  • Nov 9, 2011 3:58am Nov 9, 2011 3:58am
now into a consolidation whilst Europe has lunch.....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 9 eur 5m 1250 spain.gif Size: 22 KB
Trading Levels with WRBs
  • #3,193
  • Nov 9, 2011 4:13am Nov 9, 2011 4:13am
Quoting Islander
Nice pips guys.....my higher TF - 15m - MA was always heading down - a warning to be careful with buys. The 5m MA did turn up, but the range held with the 8 small candles just above the DP catching my attention as I waited to see IF there was a wide ranged candle breakout upwards.

Instead there was a quick 8 candle pull back before the breakout came after 2 hours inside the range, a typical time to allow the big guys to load up shorts at a good price before the ultra wide ranged candle confirmed the breakout to the down side.

So far the...
Awesome stuff, thanks for sharing!
  • #3,194
  • Nov 9, 2011 6:15am Nov 9, 2011 6:15am
Quoting Islander
now into a consolidation whilst Europe has lunch.....
After the European lunchtime consolidation price moved up into NYO culminating in a 5 min SS which was a rejection of mid morning support level now turned resistance.

Lower high KISS entry rejection of MS3.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20111109-m1.gif Size: 17 KB
Follow, don't anticipate.
  • #3,195
  • Nov 9, 2011 7:24am Nov 9, 2011 7:24am
Quoting Ian
After the European lunchtime consolidation price moved up into NYO culminating in a 5 min SS which was a rejection of mid morning support level now turned resistance.

Lower high KISS entry rejection of MS3.

Attachment
Nice one Ian - there was a nice little doji high as price spiked up out of the box area - also no follow thru after a wide ranged green candle, so plenty of warning to get aboard the south bound Euro Express http://www.forexfactory.com/images/icons/icon12.gif

I took some off at the 3600 level and closed the remainder at the fib support area - also some lows off the 4 hr chart.

The small candles with increasing volume were a good heads up and the actual low was in a green doji....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 9 eur 5m 1620 -spain.gif Size: 27 KB
Trading Levels with WRBs
  • #3,196
  • Nov 9, 2011 6:05pm Nov 9, 2011 6:05pm
Quoting Ian
After the European lunchtime consolidation price moved up into NYO culminating in a 5 min SS which was a rejection of mid morning support level now turned resistance.

Lower high KISS entry rejection of MS3.

Attachment



Quoting Islander
I took some off at the 3600 level and closed the remainder at the fib support area - also some lows off the 4 hr chart.

The small candles with increasing volume were a good heads up and the actual low was in a green doji....
I noticed it was also the 27.2 fib extension of the move from yesterday's high during Asia to the low of that consolidation range at lunch time London.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 09-11-11 london open 15m fib from move.gif Size: 23 KB
  • #3,197
  • Nov 9, 2011 11:20pm Nov 9, 2011 11:20pm
Grabbed a few quick pips tonight, have to get back to study unfortunately so that's all I have time for tonight.

Hope it keeps dropping for you boys (if you're short that is)

Have a good one!
Attached Image (click to enlarge)
Click to Enlarge Name: eu 10-11-11 london open 1m ma.jpg Size: 104 KB
  • #3,198
  • Nov 9, 2011 11:44pm Nov 9, 2011 11:44pm
I took an early continuation sell into the Frankfurt Open and banked a few.

I had to look hard for any support and found a couple of esoteric levels just below this fib extension.

The green bullish engulfing candle on higher volume suggests some profit takers came in there.......lets see what The Brits think at LO
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1320910933
Trading Levels with WRBs
  • #3,199
  • Edited Nov 10, 2011 4:59am Nov 9, 2011 11:53pm | Edited Nov 10, 2011 4:59am
High vol semi tweezers on 5m caught my attention....buy was retest of the 3500 off the 1 min......still contra trend, so hit and run, banking quickly.....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 10 eur 1m 0846 spain.gif Size: 19 KB
Attached Image
Trading Levels with WRBs
  • #3,200
  • Nov 10, 2011 12:02am Nov 10, 2011 12:02am
Quoting Islander
I had to look hard for any support and found a couple of esoteric levels just below this fib extension.
I'm glad it wasn't just me struggling to find support around there!
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