Islander and Medici trade the European open | Page 172 | Forex Factory

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Islander and Medici trade the European open

  • #3,421
  • Dec 5, 2011 1:26am Dec 5, 2011 1:26am
Quoting Islander
and score a couple for the 30P C/B short....and a HL, so long after that larger bullish engulfer....
Long after that HL and now closed at the Daily Pivot for nice pips....now inside the fakeout box....
Trading Levels with WRBs
  • #3,422
  • Dec 5, 2011 2:00am Dec 5, 2011 2:00am
No pull back into the old C Box, so put on a new one.....the HL with Trend Magic still blue gave me a buy after the new HL....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #3,423
  • Dec 5, 2011 2:05am Dec 5, 2011 2:05am
Quoting Islander
the HL with Trend Magic still blue gave me a buy after the new HL....
And in these slow markets, it makes sense to trade the M5 and let it ride. Here with T3 Trend Magic (based on T3 MA cross instead of price crossing SMA50).
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File Type: mq4 T3 Trend Magic.mq4   3 KB | 1,031 downloads
  • #3,424
  • Dec 5, 2011 2:17am Dec 5, 2011 2:17am
Quoting medici
And in these slow markets, it makes sense to trade the M5 and let it ride. Here with T3 Trend Magic (based on T3 MA cross instead of price crossing SMA50).

Nice one, as price has stalled, I'm still on the 1 min and have put on an early sell as price held under the blue TM line.....

PS I have the 3450 area as resistance as Friday mornings lows and also ~the 50% retrace of Fridays range....

PSS - ah, another indy to try.....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #3,425
  • Dec 5, 2011 2:40am Dec 5, 2011 2:40am
Too many small candles around the new support area, so closed sell for a couple and with the 5m indy still blue, I'm now long off that mini HL.....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #3,426
  • Dec 5, 2011 3:03am Dec 5, 2011 3:03am
Quoting Islander
Too many small candles around the new support area, so closed sell for a couple and with the 5m indy still blue, I'm now long off that mini HL.....
now too many small candles ~the 50 resistance area, so clucked and banked.....also, vols are low, I guess due to EZ meetings prior to the Big One later this week....
Trading Levels with WRBs
  • #3,427
  • Dec 5, 2011 3:41am Dec 5, 2011 3:41am
Quoting Islander
now too many small candles ~the 50 resistance area, so clucked and banked.....also, vols are low, I guess due to EZ meetings prior to the Big One later this week....
and my last post for this morning....small moves, so I stayed on the 1 min and banked as soon as price stalled in OB / OS areas around S/R levels...
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #3,428
  • Dec 5, 2011 6:21am Dec 5, 2011 6:21am
Islander - so when you place your 30p box around the pre-Frankie open, how do you decide where to place it? Choose a low or high? It just seems a little arbitrary?
  • #3,429
  • Dec 5, 2011 7:03am Dec 5, 2011 7:03am
Quoting Delite
Islander - so when you place your 30p box around the pre-Frankie open, how do you decide where to place it? Choose a low or high? It just seems a little arbitrary?
Hi Delite - I just zoom out my 1 min chart to show me the Asian Action and look to see IF the box will fit over all - or the most recent PA. If the market is in a stronger continuation move from the US session then the box will probably not work - and in any case, I'd be looking at the 5 min chart to help stay in the move.

Look back over a couple of weeks and see IF it works for you http://www.forexfactory.com/images/icons/icon7.gif

Like all level type indys, sometimes its staggeringly useful and at others, useless.....http://www.forexfactory.com/images/icons/icon11.gif.....for me, it often helps when in a range, to highlight where the good entries are likely to be found http://www.forexfactory.com/images/icons/icon6.gif

Cheers

Islander
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Trading Levels with WRBs
  • #3,430
  • Dec 5, 2011 11:10am Dec 5, 2011 11:10am
The Mercozy news spike was just that - a spike.. once traders worked out that it was another load of talk - heavy on headlines, light on detail, price retraced.....but IMO it was interesting to note that the spike up was ~30 pips and that the new C Box, together with the T3 MACD was again, IMO, helpful....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #3,431
  • Dec 5, 2011 11:15am Dec 5, 2011 11:15am
or this way....
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Trading Levels with WRBs
  • #3,432
  • Dec 5, 2011 3:20pm Dec 5, 2011 3:20pm
Islander,
Is your box approach similar to this ? :-
http://www.forexfactory.com/showthread.php?t=302007

Also, having looked at your Mercozy news spike post my T3macd did not get near to .0019 like yours, have you tinkered with the hot parameters?.

thanks
doc.
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  • #3,433
  • Dec 6, 2011 2:04am Dec 6, 2011 2:04am
Quoting Dr.Scalpall
Islander,
Is your box approach similar to this ? :-
http://www.forexfactory.com/showthread.php?t=302007

Also, having looked at your Mercozy news spike post my T3macd did not get near to .0019 like yours, have you tinkered with the hot parameters?.

thanks
doc.

GM - I'm a bit late today as its a fiesta here....I'll look at that link later and yes, my Hot is 0.8, Slow 0.4....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #3,434
  • Dec 6, 2011 2:13am Dec 6, 2011 2:13am
As I've mentioned before, I like the Daily Pivots as intra-day S&R levels, so my first sell was off MS 1 area, target ~S 1 area and second sell off S1, target MS 2 area.....just hit
Trading Levels with WRBs
  • #3,435
  • Dec 6, 2011 2:22am Dec 6, 2011 2:22am
Thanks, Islander.

Will have a look.

Best wishes!
  • #3,436
  • Dec 6, 2011 2:29am Dec 6, 2011 2:29am
Quoting Delite
Thanks, Islander.

Will have a look.

Best wishes!
You're welcome - when I use a C Box after a move, I like to see a "W" if price has been falling and an "M" when rising - i.e. 3 hits around the box extremes....http://www.forexfactory.com/images/icons/icon12.gif

and darnit, I missed that 1m HL buy....http://www.forexfactory.com/images/icons/icon8.gif - nice divergence too....
Trading Levels with WRBs
  • #3,437
  • Dec 6, 2011 2:37am Dec 6, 2011 2:37am
the action so far....memo to self Look out for Reversals!
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Trading Levels with WRBs
  • #3,438
  • Edited 3:26am Dec 6, 2011 3:00am | Edited 3:26am
Not much posting this week due to computer problems. My new machine doesn't want to boot up any more. Win7 software issue and needs to be re-installed from scratch

But here's an example on how to use the T3 dynamics together with RBs.

The MACD and fast T3 slope are both pointing up ahead of LO - a sign of imminent reversal.

Then I go to the RB chart and look for a HL to jump in on and find one at the 1.0165 level for a 50 pip (almost) ride
Attached Image(s) (click to enlarge)
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  • #3,439
  • Dec 6, 2011 3:24am Dec 6, 2011 3:24am
Quoting medici
Not much posting this week due to computer problems. My new machine doesn't want to boot up any more. Win7 software issue and needs to be re-installed from scratch

But here's an example on how to use the T3 dynamics together with RBs.

The MACD and fast T3 slope are both pointing up ahead of LO - a sign of imminent reversal.

Then I go to the RB chart and look for a LH to jump in on and find one at the 1.0165 level for a 50 pip (almost) ride
'Puter probs ugh... they suck....

I didnt have the Aussie chart, so I've just added it and this was how it showed - a nice HL - I think you made a typo http://www.forexfactory.com/images/icons/icon12.gif - with S2 as support and target area MS 2 easily broken, opening up the way to S1....
Attached Image (click to enlarge)
Click to Enlarge Name: dec 6 au 1m 0919 gmt.gif Size: 21 KB
Trading Levels with WRBs
  • #3,440
  • Dec 6, 2011 3:29am Dec 6, 2011 3:29am
Quoting Islander
I didnt have the Aussie chart, so I've just added it and this was how it showed - a nice HL - I think you made a typo http://www.forexfactory.com/images/icons/icon12.gif - with S2 as support and target area MS 2 easily broken, opening up the way to S1....
Thanks for chart. Interesting to see that Trend Magic had already taken a step up - another sign of reversal.
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