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  • #2,061
  • Dec 14, 2011 2:33am Dec 14, 2011 2:33am
Thanks Ninja!

Anyone contemplating a GU position...we have UK Unemployment Claims update (Red) in one hour from now.

(Just a reminder)
Enter Signature
  • #2,062
  • Dec 14, 2011 2:35am Dec 14, 2011 2:35am
how come we would not short EU? I went on the break and it took me out. Should the TDI cross occur on the prior candle? because I entered when it showed a TDI cross on the current candle and not it uncrossed and I am all confused on what to look for now?

This entire week I have been getting faked out so badly and I dont know what to look for now? I think my timing sucks but I just cant figure out how to time correctly I have been noticing.
  • #2,063
  • Dec 14, 2011 2:37am Dec 14, 2011 2:37am
Quoting Pipsninja
We have gotten a tighter trading range today 38 pips versus 75 pips yesterday which is a sign of a ranging market. Experienced trades can drop to 15M chart and trade reversal candles for 15-25 pips until market moves. Just check out yesterday's 15M chart.
For example, range was 1.3053-1.3015 about 3 candles ago on the 15M chart. Price tried to break the lower level but we got a reversal candle. Enter Long 1.3016....15 to 20 pips TP would have been hit already. Now, we wait to see what type of PA we get once price nears the high of 1.3053...
Trading can't be taught but it can be learned
  • #2,064
  • Dec 14, 2011 2:42am Dec 14, 2011 2:42am
Quoting hale-mary
how come we would not short EU? I went on the break and it took me out. Should the TDI cross occur on the prior candle? because I entered when it showed a TDI cross on the current candle and not it uncrossed and I am all confused on what to look for now?

This entire week I have been getting faked out so badly and I dont know what to look for now? I think my timing sucks but I just cant figure out how to time correctly I have been noticing.
Mary, if I may...

Looking at the H1 TF, there is nothing to tell us what PA wants to do. We currently have a 10 hour ranging market with a very tight 40 Pip range. Patience.

Let PA tell us what it wants. We don't NEED to be in at the exact moment of a trend.

If a 100 pip trend develops...and you pocket only 40 of them...Wooo Hooo...you win!!


Enter Signature
  • #2,065
  • Dec 14, 2011 2:45am Dec 14, 2011 2:45am
Quoting hale-mary
how come we would not short EU? I went on the break and it took me out. Should the TDI cross occur on the prior candle? because I entered when it showed a TDI cross on the current candle and not it uncrossed and I am all confused on what to look for now?

This entire week I have been getting faked out so badly and I dont know what to look for now? I think my timing sucks but I just cant figure out how to time correctly I have been noticing.
No price Action on the EU at the moment, that's reason to not trade.
  • #2,066
  • Dec 14, 2011 2:45am Dec 14, 2011 2:45am
Entered long E/U on 15 min TF. Entry was on open of second blue candle after red pull back candle and cross of 4 ma at 1.3025. Also supported by TDI cross of red and yellow lines. Thinking the bulls are going to allow a bit of a pull back to make another run at the 1.3000 RN.
  • #2,067
  • Dec 14, 2011 2:47am Dec 14, 2011 2:47am
hale-mary, when I want to enter on a break of a level. I drop to a lower time frame and see if the candle closes below or above my level or not. The close got to be a strong and way from my level. If I am trading on the H1, then I drop down to 15M chart to see if a level breach is held or not. I hope this helps.
Trading can't be taught but it can be learned
  • #2,068
  • Dec 14, 2011 2:48am Dec 14, 2011 2:48am
Quoting Pecunia
G/U long @ 1.5510 using the H4 system. + 18 pips right now
down ten right now
  • #2,069
  • Dec 14, 2011 2:51am Dec 14, 2011 2:51am
Smokey,

Not trying to be rude or sound frustrated, Just trying to figure out how to get better and view the markets better.

PA is a nice buzzword, but it does not mean a thing to me. Let me explain, I only hear it being used when a successful trade is identified and when pros like you trade.

I am unable to figure out what PA is doing or how you know PA is saying go long or short. For example, yesterday during NY session, some people went short on the break of of the previous days low but the market had been ranging the entire day.

Also, I only try to go for 40 or 50 pips on a trade. I dont like being greedy.
  • #2,070
  • Dec 14, 2011 2:58am Dec 14, 2011 2:58am
Quoting hale-mary
Smokey,

Not trying to be rude or sound frustrated, Just trying to figure out how to get better and view the markets better.

PA is a nice buzzword, but it does not mean a thing to me. Let me explain, I only hear it being used when a successful trade is identified and when pros like you trade.

I am unable to figure out what PA is doing or how you know PA is saying go long or short. For example, yesterday during NY session, some people went short on the break of of the previous days low but the market had been ranging the entire day.

Also, I...
No rudeness at all, and believe me...I KNOW THE FRUSTRATION!!

Jump over to GU...that is PA talking...still not sure what it's saying...but it's talking. Look at the 10 hour ranging prior to it. It then found its voice.

Personally, I'm waiting for the UK Employment Claim news before I think about the GU.

Hope this helps a bit...hang in there
Enter Signature
  • #2,071
  • Dec 14, 2011 3:02am Dec 14, 2011 3:02am
getting clearer...thanks smokey
  • #2,072
  • Edited 3:08am Dec 14, 2011 3:05am | Edited 3:08am
A/U H4 short, 20 pips profit, stoped out by trailing stop.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_H4_strategy name_20111214100802.gif Size: 24 KB
  • #2,073
  • Dec 14, 2011 3:06am Dec 14, 2011 3:06am
I completely understand your frustration hale-mary. There seems to be some trades who get in at the right time every time and they get out right at the very bottom or top before a big reversal for big pips. I am not one of them but hope to be like them someday. Regarding yesterdays break of the lower level. A drop down to 15M would have shown you a strong bear 15m candle close below that support level. That would have been a clear signal to go short. When market is ranging like this, I reduce my TP to 15-25 pips and I watch candles like a hawk. By the way, EU PA is approaching the upper level, lets see if it beaks up or reverses.
Trading can't be taught but it can be learned
  • #2,074
  • Dec 14, 2011 3:07am Dec 14, 2011 3:07am
Quoting PoundTrader
down ten right now
Wait for it..
  • #2,075
  • Dec 14, 2011 3:18am Dec 14, 2011 3:18am
Quoting hale-mary
how come we would not short EU? I went on the break and it took me out. Should the TDI cross occur on the prior candle? because I entered when it showed a TDI cross on the current candle and not it uncrossed and I am all confused on what to look for now?

This entire week I have been getting faked out so badly and I dont know what to look for now? I think my timing sucks but I just cant figure out how to time correctly I have been noticing.
Why not short EU. Just general comment. Look on your daily chart. There are 2 big reversal areas coming, they might provide area for bounces. Until there is solid proof of turn and change of trend, thats what they are, bounces. Solid proof perhaps a daily higher low/double bottom, weekly positive close etc etc.

Somebody will post a trade showing a successful buy at the low (wherever that turns out to be) but believe me there will be hoardes of others trying and failing. At this stage DO NOT let yourself get distracted from trading the trend. When the market turns there will be weeks of trades with buying opportunities.

On your failed trades post the charts showing where you got in and why and let others comment.
  • #2,076
  • Dec 14, 2011 3:29am Dec 14, 2011 3:29am
already saved live images and will post them during ny session. smokey and pipninja gave me some good fine tuning ideas...that will help in my backtesting for sure
  • #2,077
  • Dec 14, 2011 3:31am Dec 14, 2011 3:31am
Quoting Brifx
Entered long E/U on 15 min TF. Entry was on open of second blue candle after red pull back candle and cross of 4 ma at 1.3025. Also supported by TDI cross of red and yellow lines. Thinking the bulls are going to allow a bit of a pull back to make another run at the 1.3000 RN.
Took half off at 1.3045 for +20 pips. Closed the rest at Be + 10. The 1.3050 seemed to be rejecting price and pending GBP news was the deciding factor. Will wait to see what developes after the news releases.
  • #2,078
  • Dec 14, 2011 3:35am Dec 14, 2011 3:35am
Quoting X-Man
Thanks alpachi

I get a lot of pleasure and a warm feeling inside when i know that im helping others.
I do not want any ones money i just want to help thats all.
Im glad you will be contributing. Sometimes i ask myself why do Pros charge for their systems if they can use their system to get all the money they want.

[size=3][color=blue]I recommend all traders thats following the thread to post , contribute...
thanks a million x-man,you realy are an exceptional human being and have restored my faith in human nature!!
(i 'll try to keep the noobie questions to a minimum )
rob
  • #2,079
  • Dec 14, 2011 3:42am Dec 14, 2011 3:42am
Could someone please go tell the big boys to switch on E/U. Looks like its off
They only switched on G/U.
We waiting to ride E/U

X-man the legendary conqueror of markets
  • #2,080
  • Dec 14, 2011 3:43am Dec 14, 2011 3:43am
Quoting thrax
A/U H4 short, 20 pips profit, stoped out by trailing stop.
Same trade I took last night - it wasn't an ideal 'setup' as the trend reversal bar, or whatever you want to call it wasn't ideal so a tad lucky. I entered a little earlier on the open of that bar and closed after seeing the inside bar close at 7am this morning - plus there's previous supply to the left.
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