on your previous posts you show a horizontal line on your charts indicating that you take trades above or below the arbitrarily drawn horizontal line.
How do you determine where to place that line?
on your previous posts you show a horizontal line on your charts indicating that you take trades above or below the arbitrarily drawn horizontal line.
How do you determine where to place that line?
thanx[/quote]
Just pens on momentum..in the case of the EURO... i liked the patten. lower dtop with pins on tops..and shape of trend line.. in the case of GBPCHF.. been watching that to break out for several days.. made money on those 2.. lost money on the Cable.. shouldnt have taken cause didnt really like patten.. the lines are just to indicate were i took possie.. some times if i think it is going to break hier.. i will put an order iabove the market..but not often..Its just were i decided to jump in..hope this helps..
USD CAD.. 4 hr note Fozzy diverg.... will be cwatching for break of t line .. as per picture fo short.. if it goes over EURO should be a long????? dont look athat way at the mo thou..
Too busy to trade in the family biz at the mo and Mrs V has completely stuffed up her trigger arm/shoulder. So no trading for her either.
Anyway have a little time before the boss wakes up from her pm snooze!!
Eur a similar pic, GU bias down (was on Fri as posted elsewhere after Thurs doji) and will stay that way until we have some or other D set up that suggests 2b/dble bttm/123 low. Divergence would be nice if applicable. Until that happens bias down like I said.
See above D chart, down bias. 1hr closes neg in line with D trend. 5 min red line shows close of 1hr, with 2 easily identified lh's that follow.
The first arrow down after the 1hr close, the ma's are not stacked nicely thats fine you have D down trend, 1hr confirms and 5 min lh. 2nd arrow down ma's nicely stacked.
The indi is from the 123 patternsV6 revisited thread, link above.
Throw in the odd reversal trade in and around LO (preferably getting back into D trend), the odd retrace to a psych level to get back into trend and the odd London close counter trend trade and thats all we are looking to do.
Trade the Weekly charts, V, and focus on your family biz.
My unsolicited 2c (read your blog this morning).
J.
PS. You really using Shirley H's method ?
Ignored
Hi j
Will show some patience and let Mrs V get better, she'll trade the set ups shown above.
Did around 20 trades with Shirleys method, had a couple of BE's, not one losing trade!! She put together a nice plan there.
I am sound asleep when London closes - what a pity! Be nice to have some strategy like that for the London Open or the Tokyo Close. Ah well...... guess I'll stick to HL's and LH's.
I am getting fairly impressed with how well the indi is picking up higher lows and lowers highs, you can find it at http://www.forexfactory.com/showthread.php?t=326305 and have a look. If you struggle to pick up 1 2 3 swings the 123 patternV6 will help a lot I'm sure.
The arrows are all drawn by the indi.
London and US session as an example.
PS the fozzy 8 rsi 8 sma is my add on, nothing to do with robdee's 123 pattern.
Higher low, lower high system
