Islander and Medici trade the European open | Page 173 | Forex Factory

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Islander and Medici trade the European open

  • #3,441
  • Dec 6, 2011 3:36am Dec 6, 2011 3:36am
OK, its a Fiesta here, so I'm finished for this morning.....there's a potential box building.....of course, any hot - or cold - air from Merkozy-land will make price blow out of it in a flash
Attached Image (click to enlarge)
Click to Enlarge Name: dec 6 € 1m 0932 gmt.gif Size: 22 KB
Trading Levels with WRBs
  • #3,442
  • Dec 6, 2011 3:41am Dec 6, 2011 3:41am
Quoting medici
Thanks for chart. Interesting to see that Trend Magic had already taken a step up - another sign of reversal.
Looks quite nice on RBs too
Attached Image (click to enlarge)
Click to Enlarge Name: RB Trend MAgic Aussie 6 Dec.jpg Size: 215 KB
  • #3,443
  • Dec 6, 2011 3:42am Dec 6, 2011 3:42am
Quoting medici
Thanks for chart. Interesting to see that Trend Magic had already taken a step up - another sign of reversal.
Agreed, TM does seem useful, so I'll also put up a 5p RB chart and try it.....but I do soooo like my 1m / 5m candles
Trading Levels with WRBs
  • #3,444
  • Edited 3:58am Dec 6, 2011 3:48am | Edited 3:58am
Quoting Islander
Agreed, TM does seem useful, so I'll also put up a 5p RB chart and try it.....but I do soooo like my 1m / 5m candles
LOL - I'm currently using M5 + RBs, but take a peek at M1 every once in a while. And I also hit levels "old skool style"

For scalps, when M1 and RB say the same thing the win rate is very high.

Yes, TM seems very useful, and TM on RBs is interesting research.

Interestingly, TudorGirl's TM and the T3 TM look almost identical, with the latter having less of a repaint problem. And the fact the TM line looks more or less the same regardless of underlying indy and of parameters give TM a robust feel - there's no parameter fitting involved, and signals should be reliable.
  • #3,445
  • Dec 6, 2011 5:41am Dec 6, 2011 5:41am
Quoting medici
LOL - I'm currently using M5 + RBs, but take a peek at M1 every once in a while. And I also hit levels "old skool style"

For scalps, when M1 and RB say the same thing the win rate is very high.

Yes, TM seems very useful, and TM on RBs is interesting research.

Interestingly, TudorGirl's TM and the T3 TM look almost identical, with the latter having less of a repaint problem. And the fact the TM line looks more or less the same regardless of underlying indy and of parameters give TM a robust feel - there's no parameter fitting involved,...

OK, I'm back for lunch and now have replaced the standard TM with your T3 TM - I too had noticed their similarity. Here, my settings are 13/55/0.4/1.0. I'm also looking to see if there's any significance in the change in colour when the line is flat....

As we can now see, the range held for ~2 hours before the breakout in a wide ranged candle in a 65 pip swing up to ~the DP level
Attached Image (click to enlarge)
Click to Enlarge Name: dec 6 € 1m 1133 gmt.gif Size: 25 KB
Trading Levels with WRBs
  • #3,446
  • Dec 6, 2011 5:55am Dec 6, 2011 5:55am
T3 TM with standard settings......also, a new potential C Box....
Attached Image (click to enlarge)
Click to Enlarge Name: dec 6 € 5m 1153 gmt.gif Size: 17 KB
Trading Levels with WRBs
  • #3,447
  • Edited 2:41pm Dec 6, 2011 7:05am | Edited 2:41pm
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.
Hi Doc - I've just read the first page of forexhard's thread and so no, my approach is not - as far as I can see so far similar in that I started by noticing the pre FO consolidation. This was actually why I was first attracted to FX - the regular expectation of a reasonable price move around this time of the day - and hence IF one could successfully use this to take profits over the next couple of hours, a trading methodology that did not require all day in front of a 'puter.

Later, I observed that the regular intra day consolidations were frequently around 30 pips, which is IMO the smallest tradeable range, once you've allowed for slippage and spread on entry and exit. So this is where I'm at and now I'll read forexhard's interesting looking thread....

Thanks for the input

Islander

Edit: I'm just reading forexhard's thread and I found that I have been there before - I made a post in July - I've read hundreds of posts since, so shows what my memory is like
Trading Levels with WRBs
  • #3,448
  • Dec 6, 2011 2:58pm Dec 6, 2011 2:58pm
OK, I've now read forexhard's thread and its basic idea is using the consolidation box / zone for breakout trading as opposed to my idea to identify ranges and use a box for helping trading inside its range.

Squalou has developed an interesting indicator for identifying the ranges and potential targets and its interesting to note that - using the suggested 5m settings - its box has been placed in a similar position to the one that I posted earlier this morning.....

I'm not yet certain if / how we might use / benefit from those ideas, as it is a stand alone system, so I'll think about it over the next few days. Either way, thanks for the heads up
Attached Image (click to enlarge)
Click to Enlarge Name: dec 6 € 5m 2100 squalou.gif Size: 21 KB
Trading Levels with WRBs
  • #3,449
  • Dec 7, 2011 1:35am Dec 7, 2011 1:35am
GM - looking into T3 TM's change of colour......lol otherwise its watching paint dry
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Trading Levels with WRBs
  • #3,450
  • Dec 7, 2011 2:27am Dec 7, 2011 2:27am
and this took an hour.....
Attached Image (click to enlarge)
Click to Enlarge Name: dec 7 eur 1m cb 0825 gmt.gif Size: 20 KB
Trading Levels with WRBs
  • #3,451
  • Dec 7, 2011 2:53am Dec 7, 2011 2:53am
Quoting Islander
and this took an hour.....
Go to Ms Whiplash for some tradeable swings
  • #3,452
  • Dec 7, 2011 3:00am Dec 7, 2011 3:00am
Quoting medici
Go to Ms Whiplash for some tradeable swings
For me GU has been the pair of choice for weeks. EU was great for a while but now it seems more content to chop around instead of swing (and AU as well but to a lesser extent). So until it decides to start doing more than jumping on rumours GU will likely continue to be the majority of my trading.
  • #3,453
  • Dec 7, 2011 3:00am Dec 7, 2011 3:00am
Quoting medici
Go to Ms Whiplash for some tradeable swings

agreed, she's swishing nicely between the DP and MR 1 and within the 30P C Box
Trading Levels with WRBs
  • #3,454
  • Dec 7, 2011 3:07am Dec 7, 2011 3:07am
And with the mfg news in 23 minutes, she might head for the dungeons...
  • #3,455
  • Dec 7, 2011 3:11am Dec 7, 2011 3:11am
Quoting Auron112
For me GU has been the pair of choice for weeks. EU was great for a while but now it seems more content to chop around instead of swing (and AU as well but to a lesser extent). So until it decides to start doing more than jumping on rumours GU will likely continue to be the majority of my trading.
Totally agree! The Euro is far too choppy for my taste as well.

EDIT: Wouldn't touch it without Range Bars. They do a good job of filtering out the worst of the chop.
  • #3,456
  • Dec 7, 2011 3:24am Dec 7, 2011 3:24am
Its great to be reading your thoughts again guys, keep it coming..
  • #3,457
  • Dec 7, 2011 3:27am Dec 7, 2011 3:27am
Quoting Auron112
For me GU has been the pair of choice for weeks. EU was great for a while but now it seems more content to chop around instead of swing (and AU as well but to a lesser extent). So until it decides to start doing more than jumping on rumours GU will likely continue to be the majority of my trading.
Btw, do you trade GU primarily with Range Bars?
  • #3,458
  • Dec 7, 2011 3:40am Dec 7, 2011 3:40am
Quoting medici
And with the mfg news in 23 minutes, she might head for the dungeons...
That was a meager harvest for so crappy mfg numbers...
  • #3,459
  • Dec 7, 2011 3:43am Dec 7, 2011 3:43am
Quoting medici
Btw, do you trade GU primarily with Range Bars?
I use a combination of either a M1 or M5 chart on 1/3rd of the screen with a RB chart on the other 2/3rd. My primary entry method is using RBs on GU, I would say around 80% of the time. There are exceptions, such as the very easy M1 short at mid-FH just below MR1 which was harder to see or enter off the RB chart.
  • #3,460
  • Dec 7, 2011 3:45am Dec 7, 2011 3:45am
Quoting Auron112
I use a combination of either a M1 or M5 chart on 1/3rd of the screen with a RB chart on the other 2/3rd. My primary entry method is using RBs on GU, I would say around 80% of the time. There are exceptions, such as the very easy M1 short at mid-FH just below MR1 which was harder to see or enter off the RB chart.
Ah, just the way I do it - a combination of RB and M1/M5. Thanks.
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