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  • #9,701
  • Jan 19, 2012 5:00am Jan 19, 2012 5:00am
Quoting Agro
Me too. Price seems to be working into the level consuming supply.

Regarding you river scalp strategy. I have been playing around a bit lately with it and it seems to compliment my scalp strategies well giving a few more entries to keep me busy. I have never scalped using MA's before but the river looks good to me. Just wondering why 34 EMA is used instead of 20, 50 or any other period.

Cheers
Its Raghee Horner's method. She developed it herself after thorough testing. My presumption is that it works better then other MA's as it best marks up and identifies the Consolidation,Distribution-congestion, Trend and Trend reversal using m1 chart.

Remember: Consolidation, Congestion, Trend and Trend reversal are main market cycles.
  • #9,702
  • Jan 19, 2012 5:04am Jan 19, 2012 5:04am
Quoting T@rantula
Its Raghee Horner's method. She developed it herself after thorough testing. My presumption is that it works better then other MA's as it best marks up and identifies the Consolidation,Distribution-congestion, Trend and Trend reversal using m1 chart.

Remember: Consolidation, Congestion, Trend and Trend reversal are main market cycles.
Thanks
  • #9,703
  • Jan 19, 2012 5:59am Jan 19, 2012 5:59am
Quoting T@rantula
2903 rejection ( see levels table)

2909 is projected top for London session. 2908 has been reached, so I think we may see another push to the upside soon or in NY session.
It was sooner the I thought but nevertheless analysis was pretty accurate.
  • #9,704
  • Jan 19, 2012 6:10am Jan 19, 2012 6:10am
Quoting Agro
Just entered long at 66. Loose stop at 29 but will prob be out before that. Reason 1h engulf breaks consolidation zone. Prob a bit dangerous for longs as the move up could have been a stop hunt, but if it is a true break we could get a fast move up now.
Out of final 2/3 at 2909. +40 was the average take profit (1/3@33+ and 2/3@43+). Momentum up is sluggish and I didn't like the way the hour closed and I scalped for 15 hours straight last night so I want to shut the carts down now. Only 2 scalps today for +8 and +8.5, but I am happy
  • #9,705
  • Jan 19, 2012 6:13am Jan 19, 2012 6:13am
Quoting Agro
Out of final 2/3 at 2909. +40 was the average take profit (1/3@33+ and 2/3@43+). Momentum up is sluggish and I didn't like the way the hour closed and I scalped for 15 hours straight last night so I want to shut the carts down now. Only 2 scalps today for +8 and +8.5, but I am happy
Good 1 m8. Have u seen 2909 reaction That is. Just go with the levels and youll be fine
  • #9,706
  • Jan 19, 2012 6:16am Jan 19, 2012 6:16am
Quoting T@rantula
Good 1 m8. Have u seen 2909 reaction That is. Just go with the levels and youll be fine
Yes, your levels are awesome. Still to scared to actually trade off them but I have been observing them for a while now and will probably start to incorperate them into my charts somewhere down the track. I just need a good few months of confirmation before I add anything to my strategy but your levels are looking like being a winner.
  • #9,707
  • Jan 19, 2012 6:27am Jan 19, 2012 6:27am
Quoting T@rantula
Enter long on BPC above 5434
Enter short on BPC below 5413

Attachment
There was BPC above that pulled 10 + pips

Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 55 KB
  • #9,708
  • Jan 19, 2012 6:31am Jan 19, 2012 6:31am
Quoting Agro
Yes, your levels are awesome. Still to scared to actually trade off them but I have been observing them for a while now and will probably start to incorperate them into my charts somewhere down the track. I just need a good few months of confirmation before I add anything to my strategy but your levels are looking like being a winner.
Its ok m8. Just use ur own strategy and apply the levels. No need to change the winning strategy. Adding the levels to already proven strategy can improve ur w/l ratio
  • #9,709
  • Jan 19, 2012 6:37am Jan 19, 2012 6:37am
Quoting T@rantula
Its ok m8. Just use ur own strategy and apply the levels. No need to change the winning strategy. Adding the levels to already proven strategy can improve ur w/l ratio
Hope so, more winners and less losers are always welcome
  • #9,710
  • Jan 19, 2012 6:41am Jan 19, 2012 6:41am
Quoting Agro
Hope so, more winners and less losers are always welcome
Yes and ONLY if losers dont overscore the winners by Profit/Loss.

For example 7 winners by 20 pips and 3 losers by 50 pips. Thats unacceptable.
  • #9,711
  • Jan 19, 2012 6:48am Jan 19, 2012 6:48am
Quoting T@rantula
Yes and ONLY if losers dont overscore the winners by Profit/Loss.

For example 7 winners by 20 pips and 3 losers by 50 pips. Thats unacceptable.
Totally agree. Some people don't seem to get this. Win/loss and r:r create the return, not one or the other. When it comes to scalping I keep it pretty tight. 22 pip emergency stop but this is almost never hit. 3-5 pips would be about the average loss, 10 being a very large but still acceptable loss. Of course this is subjective to the markets volatility at the time. More volatile equals smaller position size.
  • #9,712
  • Jan 19, 2012 6:54am Jan 19, 2012 6:54am
Quoting T@rantula
Done. If 2909 is broken 2920 will become an interim resistance
Done.

Just been reading some threads on FF. So many false traders...Incredible how they fade the market and they all claim they are good traders.....

Back to trading. Momentum push is still strong. Eu trying to reach 2920 as I said couple of hours ago and It finally reached its target

However Next Intraday level lies at 2950 and only below 2875 intraday bears can have some feast.
  • #9,713
  • Jan 19, 2012 6:57am Jan 19, 2012 6:57am
Quoting Agro
Totally agree. Some people don't seem to get this. Win/loss and r:r create the return, not one or the other. When it comes to scalping I keep it pretty tight. 22 pip emergency stop but this is almost never hit. 3-5 pips would be about the average loss, 10 being a very large but still acceptable loss. Of course this is subjective to the markets volatility at the time. More volatile equals smaller position size.
Exactly. 22 pips stopper is good for scalping 10-15 pip 70 % winning strategy. It will create a positive return just by scalping. I also agree that by scalping 22 sl is rarely been hit.
  • #9,714
  • Edited 7:51am Jan 19, 2012 7:38am | Edited 7:51am
Risk on sentiment after the news. As i said shorts only below 2875. This is trend Thrust Pullback Thrust Pullback...Retracement is THE PART of the TREND.

Reversal is completely different. After the trend is over ( stage 4. main market cycles) the trend collapses and we are in the stage 1 >consolidation.

If u understand the basics of market U will never need Some Elliot waves or predicting tools, believe me.

CONSOLIDATION ( ACCUMULATION) >CONGESTION ( DISTRIBUTION )> TREND ( MARK UP TREND) > TREND REVERSAL ( MARK DOWNTREND) > CONSOLIDATION.

Those are main market moves and there is no deviation from it. Consolidation and Congestion are spotted in sideways market and trend is spotted by thrust>pullback (retracement) patterns. RENKO charts are giving even better look in pure PA then classic candlesticks.

I will again write about this simple and profitable stuff on upcoming weekend and clarify as much as possible. You really dont need any other tools guys, no need to browse the net for complicated things , elliots and other oracle stuff. Simple is always the best, believe me.

That is how I trade for living.
  • #9,715
  • Jan 19, 2012 7:55am Jan 19, 2012 7:55am
Quoting T@rantula
RENKO charts are giving even better look in pure PA then classic candlesticks.
Never used renko. What brick size do you recommend for intraday trend spotting or does it depend on the markets volatility on any given day?
  • #9,716
  • Jan 19, 2012 8:04am Jan 19, 2012 8:04am
Quoting Agro
Never used renko. What brick size do you recommend for intraday trend spotting or does it depend on the markets volatility on any given day?
RENKO gives u much clearer view of the market then traditional candlesticks. Its completely clear of noise and its not time dependant. Im using 5 pip boxes but for intraday setups you can go with 10. Mihailo has a good thread about his RENKO strategies.

I will write about it on weekend and show examples of traditional vs RENKO and how renko can be applied to charts.

Since I have been using both for trend spotting and entries I can tell u, its really good to have at least 1 RENKO chart applied to your trading station.

Also VOLATILITY and MOMENTUM are most important factors in FX market. There is no VOLUMES as FX is not centralized market such as futures. There is only V/M and that why RENKO is excellent tool for raising the overall w/l ratio.
  • #9,717
  • Jan 19, 2012 8:08am Jan 19, 2012 8:08am
Quoting T@rantula
RENKO gives u much clearer view of the market then traditional candlesticks. Its completely clear of noise and its not time dependant. Im using 5 pip boxes but for intraday setups you can go with 10. Mihailo has a good thread about his RENKO strategies.

I will write about it on weekend and show examples of traditional vs RENKO and how renko can be applied to charts.

Since I have been using both for trend spotting and entries I can tell u, its really good to have at least 1 RENKO chart applied to your trading station.

Also VOLATILITY and...
OK cheers. Looking forward to your discussions on the matter
  • #9,718
  • Jan 19, 2012 8:12am Jan 19, 2012 8:12am
Quoting Agro
OK cheers. Looking forward to your discussions on the matter
NP, I will do it on Saturday/Sunday. We are having a retracement now. 2875 is the support.

2875 if broken then 2840 will be the target. Intraday bulls are safe above 2875.
  • #9,719
  • Jan 19, 2012 8:57am Jan 19, 2012 8:57am
Quoting T@rantula
NP, I will do it on Saturday/Sunday. We are having a retracement now. 2875 is the support.

2875 if broken then 2840 will be the target. Intraday bulls are safe above 2875.
hard to break 2875. 2885> 2895 range atm.

News in 5m will break the range.
  • #9,720
  • Edited 9:40am Jan 19, 2012 9:26am | Edited 9:40am
Quoting T@rantula
Risk on sentiment after the news. As i said shorts only below 2875. This is trend Thrust Pullback Thrust Pullback...Retracement is THE PART of the TREND.

Reversal is completely different. After the trend is over ( stage 4. main market cycles) the trend collapses and we are in the stage 1 >consolidation.

If u understand the basics of market U will never need Some Elliot waves or predicting tools, believe me.

CONSOLIDATION ( ACCUMULATION) >CONGESTION ( DISTRIBUTION )> TREND ( MARK UP TREND) > TREND REVERSAL ( MARK DOWNTREND) > CONSOLIDATION.

Those...
Quoting T@rantula
Eu trying to reach 2920 as I said couple of hours ago and It finally reached its target

However Next Intraday level lies at 2950 and only below 2875 intraday bears can have some feast.
Quoting T@rantula
NP, I will do it on Saturday/Sunday. We are having a retracement now. 2875 is the support.

2875 if broken then 2840 will be the target. Intraday bulls are safe above 2875.
Attached Image
Why 2877 ( its 2875 +2 pips )

I will show u the difference between RETRACEMENT and REVERSAL. Have I mentioned 2875? I think minimum 5 times......Watch it in RENKO!

REMEMBER: EACH TIMEFRAME IS THE DIMENSION FOR ITSELF! Since RENKO doesnt use TIMEFRAMES look at PA near 2875!

Attached Image (click to enlarge)
Click to Enlarge Name: renko.jpg Size: 57 KB
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