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  • #2,081
  • Dec 14, 2011 3:46am Dec 14, 2011 3:46am
Quoting Pipsninja
There is a lot of wisdom in what SmokeyD has shared here. A reversal bar is valid when it appears after an up or a downtrend. It could be a small or a large trend but there has got to be a clear direction before the pull back bar.
Exactly - market is ranging atm, therefore what you're looking for is some clear MOMENTUM, but watch out for fakeys.
  • #2,082
  • Dec 14, 2011 3:51am Dec 14, 2011 3:51am
Quoting X-Man
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
well, the big boys are waiting for all the brokers to send them data where all the retail traders have their orders placed and their volumes. They will see where the all stop and limit orders are....then they decide. ...first they take out all the limits orders in one direction, then the limit orders in the other direction, ... , then the real price action start.
so what is our edge trading S3?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,083
  • Dec 14, 2011 3:54am Dec 14, 2011 3:54am
I use this S&R if it could help someone, only shows current but it seems to be working for me.
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File Type: ex4 square.ex4   5 KB | 612 downloads
  • #2,084
  • Dec 14, 2011 3:59am Dec 14, 2011 3:59am
Emmanuel, Thats exactly what they've been do'n the last few days. SL's are easy prey for em!
Enter Signature
  • #2,085
  • Dec 14, 2011 4:06am Dec 14, 2011 4:06am
I entered for long @1.30495. TP is 40 pips.
  • #2,086
  • Dec 14, 2011 4:06am Dec 14, 2011 4:06am
Think I might not trade for the next 30 days.... probably safer and give me time to concentrate on back testing and spotting historical trends rather than trying to trade a trending market around Christmas.
  • #2,087
  • Dec 14, 2011 4:10am Dec 14, 2011 4:10am
I see a breakout
Attached Image (click to enlarge)
Click to Enlarge Name: breakout.jpg Size: 100 KB
X-man the legendary conqueror of markets
  • #2,088
  • Dec 14, 2011 4:11am Dec 14, 2011 4:11am
E/U H1 Long TP +30
  • #2,089
  • Dec 14, 2011 4:12am Dec 14, 2011 4:12am
Yes, PA tried to break upper level but is getting rejected. I consider this a reversal on 15M. Just my 2 cents.
Trading can't be taught but it can be learned
  • #2,090
  • Dec 14, 2011 4:17am Dec 14, 2011 4:17am
IS this another fakeout with EU? Man, i am confused as mess right now. the breakout appeared strong.....in the beginning
  • #2,091
  • Dec 14, 2011 4:19am Dec 14, 2011 4:19am
So many mixed signals. EU is a cruel mistress.
  • #2,092
  • Dec 14, 2011 4:19am Dec 14, 2011 4:19am
Also in long E/U. Waited for pa to break the 1.3050. Seems to have done an about face atm. Set tight stop of about 25 pips.
  • #2,093
  • Dec 14, 2011 4:21am Dec 14, 2011 4:21am
huge pinbar on m15 with blue band, going short
  • #2,094
  • Dec 14, 2011 4:21am Dec 14, 2011 4:21am
There's something not right yet on the EU...something is brewing..

Somebody knows something about the USD. Very good GBP news and yet it headed south against the USD. Hmmm...
Enter Signature
  • #2,095
  • Dec 14, 2011 4:21am Dec 14, 2011 4:21am
Please wait for candle close before you enter hale-mary. When market is ranging, I use 15M charts and the range box to trade within the range or break out of the range.
Trading can't be taught but it can be learned
  • #2,096
  • Dec 14, 2011 4:27am Dec 14, 2011 4:27am
on my range box EU broke out on the 15 min so I entered. (Far right corner)

I thought I was doing the right thing....guess not
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 181 KB
  • #2,097
  • Dec 14, 2011 4:27am Dec 14, 2011 4:27am
Ive been following this thread from the start, but during the middle section i was unable to read the posts and i fear i may have missed something major.
Basically i think i understand the 1Hour london and newyork open method, and i have had a brief look at the 4 Hour method (but havnt placed any trades)

I often see people post about pull back candles and reversals, and state they entered and gained X amount of pips, when i look at my charts this do not fit in with the 2 strategies i have mentioned above.
Could someone please tell me what i am missing!
regards, rob
  • #2,098
  • Edited 4:59am Dec 14, 2011 4:29am | Edited 4:59am
Quoting Pipsninja
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.
I am using regular candles and not synergy candles on my 15M charts. I had my upper level at 1.3053. Now my upper level is adjusted to 1.3064 and my lower level to 1.3003.
Trading can't be taught but it can be learned
  • #2,099
  • Dec 14, 2011 4:34am Dec 14, 2011 4:34am
SL hit on the GU. -27
Took a long on the second bar, waited 15min after the positive news.

Enter Signature
  • #2,100
  • Dec 14, 2011 4:35am Dec 14, 2011 4:35am
Quoting hale-mary
on my range box EU broke out on the 15 min so I entered. (Far right corner)

I thought I was doing the right thing....guess not
I think you should wait for 1h bar close before enter, because it could be fake breakout
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