Islander and Medici trade the European open | Page 165 | Forex Factory

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Islander and Medici trade the European open

  • #3,281
  • Nov 15, 2011 3:25pm Nov 15, 2011 3:25pm
Quoting Islander
If you read all of the thread you will know that our FO/LO trading is about watching Price Action around existing S&R levels - and also confluences with the daily pivots and sweet spots.

Medici is awsome in the way he is able to identify old S&R levels and trade off them. I have now improved my own use of these levels and transfer levels off the higher TF charts onto my 15m which I continually monitor, together with the 5m & 1m for actual entries.

Here the retraces into identified areas made taking fresh shorts an easy task - and cable obliged...
Fantastic, thank you
  • #3,282
  • Nov 15, 2011 3:52pm Nov 15, 2011 3:52pm
This is what my 4H chart looks like, unmodified after looking at yours.
A bit messy with some unnecessary levels in their perhaps, have to get familiar with areas that have more strength than others.
Will start my way through the thread this weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 15-11-11 4H.png Size: 65 KB
  • #3,283
  • Nov 15, 2011 11:09pm Nov 15, 2011 11:09pm
I have managed to find this RB MQ4 but it does seem to lose connection, I have to reopen it regularly to make it update.

Did you manage to find another Doc ?

I don't have much of a chart to backtest but it does look interesting with Bollies on it




Quoting Dr.Scalpall
Her you go try it out. also added range bar time indi which may be of use. It tries to incorperate an element of time into it by colouring bars with the time it has taken to complete.

[Closing Time of the Bar] - [Opening Time of the Bar] <= 1 min then prompt a yellow bar

[Closing Time of the Bar] - [Opening Time of the Bar] >1 min or <=5mins then prompt a orange bar

[Closing Time of the Bar] - [Opening Time of the Bar] >5 min then prompt a red bar

Oz, I'm sure I have an Mq4 somwhere, will grub through some of my backups when I get a minute....
Attached File(s)
File Type: mq4 Range_Bar.mq4   14 KB | 315 downloads
Money grows on the tree of persistence
  • #3,284
  • Nov 15, 2011 11:17pm Nov 15, 2011 11:17pm
Hammertime!! I liked those two litlle inverted hammers so Shot from the hip. started dropping as I typed so came out although I do feel it wants to go through the TL to the daily.

doc.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: hammertime.gif Size: 26 KB
Click to Enlarge Name: hammertime2.gif Size: 22 KB
  • #3,285
  • Nov 15, 2011 11:30pm Nov 15, 2011 11:30pm
Quoting Dr.Scalpall
Hammertime!! I liked those two litlle inverted hammers so Shot from the hip. started dropping as I typed so came out although I do feel it wants to go through the TL to the daily.

doc.
Nice! I took the short down from 3453.

What's the size of the range bars?
  • #3,286
  • Nov 15, 2011 11:50pm Nov 15, 2011 11:50pm
[quote=ozmacca;5137112]I have managed to find this RB MQ4 but it does seem to lose connection, I have to reopen it regularly to make it update.

Did you manage to find another Doc ?

Sorry mate, unsuccessful this way at the moment, have a few more renko things to delve through yet though. Once you've opened Mt4 for the second time does it then update on its own??. I ask because I have to open MT4 twice for the one I posted then it seems to work fine.

doc
  • #3,287
  • Nov 16, 2011 12:00am Nov 16, 2011 12:00am
Quoting medici
Nice! I took the short down from 3453.

What's the size of the range bars?

5pip, The same as you still ?. Any secret ways of trading it or just conventional ways TL's S/R etc?. I don't know why but It makes me feel in a strange way uneasy trading it at the moment, I guess the reason is just having no experience of it although that shouldn't matter as I am usually putting blind faith in any old indicator on a daily basis!!.

doc
  • #3,288
  • Nov 16, 2011 12:03am Nov 16, 2011 12:03am
I will give that a try

[quote=Dr.Scalpall;5137237]
Quoting ozmacca
I have managed to find this RB MQ4 but it does seem to lose connection, I have to reopen it regularly to make it update.

Did you manage to find another Doc ?

Sorry mate, unsuccessful this way at the moment, have a few more renko things to delve through yet though. Once you've opened Mt4 for the second time does it then update on its own??. I ask because I have to open MT4 twice for the one I posted then it seems to work fine.

doc
Money grows on the tree of persistence
  • #3,289
  • Nov 16, 2011 12:29am Nov 16, 2011 12:29am
Quoting Dr.Scalpall
Hammertime!! I liked those two litlle inverted hammers so Shot from the hip. started dropping as I typed so came out although I do feel it wants to go through the TL to the daily.
I think I should set up a mystic meg '0898' no. But I guess I would have too many chart pervs wanting me to talk forex dirty to them!!!.

Posting does have a an uncanny way of protecting capital!!!.
  • #3,290
  • Nov 16, 2011 12:32am Nov 16, 2011 12:32am
3 trades so far for me this morning, 2 wins, 1 BE.

1st was short at 3444 after the rejection of 50 level, out for +8 after the bounce off the lower support level.

At LO there was a 15 min SS off the Asian highs and a 5 min evening star pattern. Shorted at 3455 out for BE when price couldn't push down below 50 level/POC.

Reversed to long after the hl, in at 3461, out for +16 between S1 and last weeks low (3483), should have held on a bit longer but that gave me +24 for the morning so far which is fine by me.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20111116-m1.gif Size: 19 KB
Follow, don't anticipate.
  • #3,291
  • Nov 16, 2011 1:21am Nov 16, 2011 1:21am
Quoting Dr.Scalpall
5pip, The same as you still ?. Any secret ways of trading it or just conventional ways TL's S/R etc?. I don't know why but It makes me feel in a strange way uneasy trading it at the moment, I guess the reason is just having no experience of it although that shouldn't matter as I am usually putting blind faith in any old indicator on a daily basis!!.

doc
Yes, 5 pips for me too, even though I've experimented with 4 pips as well.

And, yes, they take getting used too, and I keep an eye on an "ordinary" chart as well.

I find that MAs, MACD and some chart patterns (as you also seem to have recognised) are more reliable with RBs.

Another good feature is that they simplify chart reading and the decision process. Of value to keep the brain cell and nerves at ease.
  • #3,292
  • Nov 16, 2011 1:23am Nov 16, 2011 1:23am
I also got some out of the HL in mid FH and another after LO.....now looking for a sell signal off my 5m / 1m charts....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 16 eur 15m 0915 gmt.gif Size: 21 KB
Trading Levels with WRBs
  • #3,293
  • Nov 16, 2011 1:25am Nov 16, 2011 1:25am
Quoting Islander
I also got some out of the HL in mid FH and another after LO.....now looking for a sell signal off my 5m / 1m charts....
GM - I took as sell at 1.3539, should be good for ~40, twt.
  • #3,294
  • Nov 16, 2011 1:39am Nov 16, 2011 1:39am
Quoting medici
GM - I took as sell at 1.3539, should be good for ~40, twt.
Excellent entry .....I got in ~10 pips lower....
Trading Levels with WRBs
  • #3,295
  • Nov 16, 2011 1:45am Nov 16, 2011 1:45am
Quoting Islander
Excellent entry .....I got in ~10 pips lower....
A range bar entry
  • #3,296
  • Nov 16, 2011 2:23am Nov 16, 2011 2:23am
Quoting medici
A range bar entry
And another one.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: shooting star 16 nov.PNG Size: 43 KB
Click to Enlarge Name: 30m 16 nov.PNG Size: 40 KB
  • #3,297
  • Nov 16, 2011 2:41am Nov 16, 2011 2:41am
Quoting medici
And another one.
Banked at yesterday's low, which now seems a bit premature...
  • #3,298
  • Nov 16, 2011 3:27am Nov 16, 2011 3:27am
My normal 1m chart wasnt as clear as this red shooting star high at the confluence of the 61.8% retrace from yesterdays high and todays DP - nice bearish divergence too, so not too difficult to make a sell.....

Lets hope for a bounce over lunchtime to allow another sell - off MS1 would be nice....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 16 eur 5m 1225 cet.gif Size: 23 KB
Trading Levels with WRBs
  • #3,299
  • Nov 16, 2011 6:05am Nov 16, 2011 6:05am
Quoting Islander
My normal 1m chart wasnt as clear as this red shooting star high at the confluence of the 61.8% retrace from yesterdays high and todays DP - nice bearish divergence too, so not too difficult to make a sell.....

Lets hope for a bounce over lunchtime to allow another sell - off MS1 would be nice....
and so, 10 candles later, it came to pass.....
Trading Levels with WRBs
  • #3,300
  • Nov 16, 2011 11:25pm Nov 16, 2011 11:25pm
Resistance ~Nov 9 lows and a 15m marubozo, that later became a harami, alerted me to a possible turn and the a doji on my RB chart confirmed it for me, so I sold as MR 1 held in a LH......
Trading Levels with WRBs
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