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  • #921
  • Dec 6, 2011 1:14am Dec 6, 2011 1:14am
I dont understand what I missed on this trade Gu I thought as a buy and this happened I closed out when it went past the low

Etry was at the open after the blue candle which became red
Attached Image (click to enlarge)
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  • #922
  • Dec 6, 2011 1:15am Dec 6, 2011 1:15am
Quoting juliant
X-Man,
Here in London it's just past 7am, the market opens in under an hour.
Where should my first line be? Should I have the candle forming on the line now, should it be the next candle or the one that closed 10 mins ago?
Many thanks.
The vertical line should be on the 1 that closed 10 min ago.
thats where i place it , other traders place the line on the current candle.

Guys i did not enter a trade yet as i am waiting for the current candle to close to make a decision
X-man the legendary conqueror of markets
  • #923
  • Dec 6, 2011 1:19am Dec 6, 2011 1:19am
i just remembered someone asked me whats a pullback candle.
Its a candle thats going in one direction and then reverse causing a long wick. this usually leads to PA going in the opposite direction
X-man the legendary conqueror of markets
  • #924
  • Dec 6, 2011 1:20am Dec 6, 2011 1:20am
Thanks X-Man, just wanted to make sure as with time differences etc it can be hard to pin down exact meaning.
All good now.
  • #925
  • Dec 6, 2011 1:22am Dec 6, 2011 1:22am
Quoting X-Man
Thanx for the info.
Could you or anyone explain to me what happens to PA generally when interest rates are cut or increased?
Before the news I saw the following:

"Market reaction to previous RBA rate decision

At its November 1st policy meeting, the RBA board decided to cut interest rates by 25 basis points to 4.5%. The RBA cited moderate economic expansion in the United States, slowing growth in China and a slowdown in economic activity in Europe. The RBA also made noted that falling commodity prices would affect the mining regions of the country. The RBA felt it was best to switch to a neutral stance of monetary policy from a restrictive stance in order to achieve its target inflation of 2 – 3 %. After the rate cut the AUDUSD dropped 50 pips immediately afterwards. The rate cut was in line with market expectations at that time.

Scenario A: RBA leaves rates unchanged

This scenario would be bullish for the AUDUSD given market expectations of a rate cut. The RBA might take a wait and see approach and leave cuts for future meetings. In this case the AUDUSD might head towards 1.0450.

Scenario B: RBA cuts rates by 25 basis points

This scenario is widely expected by market participants. In this case the AUDUSD might head 50 or so pips lower like it did after the previous rate decision.

Scenario C: RBA cuts rates by 50 basis points

This scenario would be bearish for the AUDUSD. The RBA could focus on the worsening situation in Europe and its impact on the financial sector in Australia. If the RBA were to surprise markets by a 50 basis point cut, we might see the AUDUSD headed towards 0.9900." http://www.etoro.com/blog/forex-news...te-decision-2/
Enter Signature
  • #926
  • Dec 6, 2011 1:23am Dec 6, 2011 1:23am
Quoting X-Man
Thats how you 4H chart should look. simple

Some months i make more with 1H than the 4H .
Last month i made more on my swing trades because it was all trending so nice and other months the pairs wont trend at all. when i dont see nice trends i stick to the 1H.
for a pair to start trending take a very long time.

Thats why im back testing 1H G/U so we can jack up our pips per month to over 1000 pips,we will reach new highs to maybe 2000 pips a month.
Hi X have you eliminated the shi for 4 hour charts? because I only see in your last template the shi daily channel.

Regards
Indicators always obey Price, not the other way.
  • #927
  • Dec 6, 2011 1:25am Dec 6, 2011 1:25am
Quoting X-Man
The vertical line should be on the 1 that closed 10 min ago.
thats where i place it , other traders place the line on the current candle.

Guys i did not enter a trade yet as i am waiting for the current candle to close to make a decision
Anyone watching market right now, before London Open, easy way to check all time & indicators settings is to see time comparision with your own time zone - remember this will change different time of year = DST

http://www.timeanddate.com/worldclock/

http://www.forex4noobs.com/forex-pulse/forex-clock/

:nerd:
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It takes a lot for me to IGNORE you, but you can try.
  • #928
  • Dec 6, 2011 1:29am Dec 6, 2011 1:29am
Hi X-Man..
on the attached picture, I'm sure the TDI was cross on vertical line,. because one hour before, the TDI has not form a cross yet.
The channel on H4 also going up
and the red candle before blue candle (on vertical line) showed long leg.
So this should be perfect situation to buy, didn't it? Although one hour later (a candle in front of vertical red line) price going down?

http://img713.imageshack.us/img713/5392/uph1.gif
  • #929
  • Dec 6, 2011 1:32am Dec 6, 2011 1:32am
Quoting maudur
Before the news I saw the following:

"Market reaction to previous RBA rate decision

At its November 1st policy meeting, the RBA board decided to cut interest rates by 25 basis points to 4.5%. The RBA cited moderate economic expansion in the United States, slowing growth in China and a slowdown in economic activity in Europe. The RBA also made noted that falling commodity prices would affect the mining regions of the country. The RBA felt it was best to switch to a neutral stance of monetary policy from a restrictive stance in order to achieve...

Thanks for the info i appreciate it .
X-man the legendary conqueror of markets
  • #930
  • Dec 6, 2011 1:35am Dec 6, 2011 1:35am
Quoting viocable
Hi X-Man..
on the attached picture, I'm sure the TDI was cross on vertical line,. because one hour before, the TDI has not form a cross yet.
The channel on H4 also going up
and the red candle before blue candle (on vertical line) showed long leg.
So this should be perfect situation to buy, didn't it? Although one hour later (a candle in front of vertical red line) price going down?

http://img713.imageshack.us/img713/5392/uph1.gif
Yes there was a cross going up but i usually almost always wait for the candle after the vertical line to form to make a decision.
Thats the way i traded yesterday as well.
X-man the legendary conqueror of markets
  • #931
  • Dec 6, 2011 1:39am Dec 6, 2011 1:39am
X-Man,

I have a question about the swing method.

In post 15 you showed us the 4H swing trade method and the post 16 you showed us the prefered swing trade. Please tell me which of these two is the one you use when you normally talk to are using the swing method?

Thanks.
Enter Signature
  • #932
  • Dec 6, 2011 1:40am Dec 6, 2011 1:40am
Quoting hale-mary
I dont understand what I missed on this trade Gu I thought as a buy and this happened I closed out when it went past the low

Etry was at the open after the blue candle which became red
Hi,
did you had enter the trade seeing that TDI cross? Hopefully you place your initial Sl below 1.5570 and done your position size.

IMHO, looking at a quiet Asian session, possibility of breakout is there. But with PA around the BB mid-band, the direction may not be so clear.
If I have to trade the breakout, I would buy when price break above 1.5645 or buy low at the low of the BB or below 1.5580. That would give a good RR to take such a trade today as I am bullish bias for an intrday correction.
Goodluck!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #933
  • Dec 6, 2011 1:41am Dec 6, 2011 1:41am
Quoting X-Man
Yes there was a cross going up but i usually almost always wait for the candle after the vertical line to form to make a decision.
Thats the way i traded yesterday as well.
So can I sum up this as : Suppose one candle after vertical line is blue candle and exceed previous candle's high, we can use it to enter Long, isn't it?

And one more thing I need to confirm with you, when you see TDI make a cross, you always wait the candle to close before making any decision, right? as when the candle close, a TDI that previously seems to cross could change not to cross again?

Thanks again
  • #934
  • Dec 6, 2011 1:46am Dec 6, 2011 1:46am
I realize that this is a different time chart ( 5 minute) but
just wanted to show a trade I just made on the London open.

The set-up was perfect, the channel was perfect, the tdi
was perfect, the average price bars were perfect. I just
made a fast 25 pips...

snarlyjack
Attached Image (click to enlarge)
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  • #935
  • Dec 6, 2011 1:48am Dec 6, 2011 1:48am
Quoting hale-mary
I dont understand what I missed on this trade Gu I thought as a buy and this happened I closed out when it went past the low

Etry was at the open after the blue candle which became red
My main comment would be that the second candle, even if it had been blue, doesn't look like it went past the close of the last candle very much, if at all. It's important to see that momentum is continuing, for me this means seeing the "close" of the current candle being above the close of the first candle. Chance are also the previous candle size wasn't very big, which is another time to be cautious.

Hope that helps a little?
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #936
  • Dec 6, 2011 1:59am Dec 6, 2011 1:59am
X-Man, as I understand the system, we do not have any signal now. We can not sell euro because TSI is crossed up and near 38. Do you agree? Whats are your plans? In 2 minuts will be strong movement. Is it possible to create a skype room? Thank you,
  • #937
  • Dec 6, 2011 2:08am Dec 6, 2011 2:08am
hi

just enter short on eu. thank you x-man for sharing this amazing system.
  • #938
  • Dec 6, 2011 2:10am Dec 6, 2011 2:10am
It's correct sell EU GU AU?
thanks
  • #939
  • Dec 6, 2011 2:17am Dec 6, 2011 2:17am
Quoting maudur
X-Man,

I have a question about the swing method.

In post 15 you showed us the 4H swing trade method and the post 16 you showed us the prefered swing trade. Please tell me which of these two is the one you use when you normally talk to are using the swing method?

Thanks.
Try to go through both before making decisions
X-man the legendary conqueror of markets
  • #940
  • Dec 6, 2011 2:19am Dec 6, 2011 2:19am
Quoting viocable
So can I sum up this as : Suppose one candle after vertical line is blue candle and exceed previous candle's high, we can use it to enter Long, isn't it?

And one more thing I need to confirm with you, when you see TDI make a cross, you always wait the candle to close before making any decision, right? as when the candle close, a TDI that previously seems to cross could change not to cross again?

Thanks again
Yeah thats all correct , i wait for the candle after the vertical line during the london session.

And yes i wait for the candle to close first.
X-man the legendary conqueror of markets
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