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  • #3,661
  • Feb 3, 2012 5:47am Feb 3, 2012 5:47am
Quoting alshaheen
dildubai i think drzulu is talking about the upper pennant res line, am i right dr zulu?
Indeed.
I put my SL @1.314 which is 4EMA, 60EMA cross.
I mirrored emmanuel TPs.
As he said, I should have waited for a retrace to get better price.
  • #3,662
  • Feb 3, 2012 5:54am Feb 3, 2012 5:54am
Im still not in any trade. PA didnt even clear yesterdays highs
It looks like its bouncing off yesterdays highs as that formed an area of resistance.
X-man the legendary conqueror of markets
  • #3,663
  • Feb 3, 2012 5:54am Feb 3, 2012 5:54am
Althought triangle appeared to be broken, I was waiting for the resistance just above (check out the barry indicator). I would have been long if price had moved up another 10 pips.
  • #3,664
  • Feb 3, 2012 5:55am Feb 3, 2012 5:55am
I guess it is everyone's interpretation of where the trendline starts.

Maybe my thinking was wrong. Attached is my chart where I drew the trendline.

emmanuels trendlines is based on the fractals. I will load the fractals and draw the trendfline according to that in future.

Sorry for the confusion. but I am still a student

Thanks and good trades to all

DD
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4hr triangle.gif Size: 27 KB
  • #3,665
  • Feb 3, 2012 6:03am Feb 3, 2012 6:03am
In my chart the line is touching the red bar where your last red arrow is above. Actually it is touching the 3 red spikes, not just the first.
  • #3,666
  • Feb 3, 2012 6:05am Feb 3, 2012 6:05am
Is the last candle a pullback bar?
Long uper wick, small ration body. Close is lower than previous close.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,667
  • Feb 3, 2012 6:15am Feb 3, 2012 6:15am
sorry off topic , just a quickie then back to whats going on heres the ? why dont i see red and green indi arrows on my screen i see the fractal grey ones but not the red and green thanks
  • #3,668
  • Feb 3, 2012 6:17am Feb 3, 2012 6:17am
tdi crossing , ok for sell?
  • #3,669
  • Feb 3, 2012 6:18am Feb 3, 2012 6:18am
Hi everyone, I entry this trade early (at 1.31527) before the breakout.

However after waiting for 3 hours it seems to me the PA is running out of steam. As I will be away from my computer for an hour, it better to bag my profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-02-03 EURUSD-0.jpg Size: 121 KB
  • #3,670
  • Feb 3, 2012 6:20am Feb 3, 2012 6:20am
Hello Traders,
Although i haven't been active for a while because of dedicating my time to my former employer on year end closings, i had retired in October but was asked to get involved with year end as a consultant on a part time basis which turned into pretty much fulltime. Now i am officially retired. I am still trading this Great System and making money with it thanks to all the great tutoring posts.
I set a goal of +50 per/day, i am satisfied with this and takes pressure off of me, sometimes i reach it sometimes it don't sometimes i will make more if the opportunity arises, all in all at the end of the month my balance is more than what i started with.
Thanks, and keep up the good work and tutoring.

Good Luck
cajun
  • #3,671
  • Feb 3, 2012 6:21am Feb 3, 2012 6:21am
Quoting ian52
tdi crossing , ok for sell?
I wouldn't take a new position 1 hr before NFP. It usually calms down before the news and explodes up or down after a major whipsaw.
  • #3,672
  • Feb 3, 2012 6:25am Feb 3, 2012 6:25am
Quoting emmanuel7788
Is the last candle a pullback bar?
Long uper wick, small ration body. Close is lower than previous close.
Yip i would consider that a pullback bar
X-man the legendary conqueror of markets
  • #3,673
  • Feb 3, 2012 6:25am Feb 3, 2012 6:25am
Quoting ian52
tdi crossing , ok for sell?

hi ian52,

what are the S3 rules?
TDI crossing is just one of the rules and is not met yet on H1.
bet patient and follow the S3 rules.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,674
  • Feb 3, 2012 6:28am Feb 3, 2012 6:28am
Quoting cajun
Hello Traders,
Although i haven't been active for a while because of dedicating my time to my former employer on year end closings, i had retired in October but was asked to get involved with year end as a consultant on a part time basis which turned into pretty much fulltime. Now i am officially retired. I am still trading this Great System and making money with it thanks to all the great tutoring posts.
I set a goal of +50 per/day, i am satisfied with this and takes pressure off of me, sometimes i reach it sometimes it don't sometimes i will make...
Nice now you can be a full time trader.
I was wondering where you vanished.
Glad you back.
X-man the legendary conqueror of markets
  • #3,675
  • Feb 3, 2012 6:34am Feb 3, 2012 6:34am
Quoting X-Man
Yip i would consider that a pullback bar
yes, thanks.
A pullback bar when follow up with a TDI cross would be good, if I am correct in this interpretation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,676
  • Feb 3, 2012 6:44am Feb 3, 2012 6:44am
Xman, you gonna wait until after the candle closes on the 1 hour to enter. For the red level news? Just trying to figure out how to tackle situations like these.

If the current candle closes red, we will have a TDI cross on the next candle, but the news might make it go crazy.
  • #3,677
  • Feb 3, 2012 6:44am Feb 3, 2012 6:44am
Quoting emmanuel7788
yes, thanks.
A pullback bar when follow up with a TDI cross would be good, if I am correct in this interpretation.
Yes you are correct in what you saying.
PA is frozen right now i would wait for the news to happen to avoid any fakeouts
On a friday i noticed the best moves only happen at the NY opening where as during the London session the market tends to be quiet.
X-man the legendary conqueror of markets
  • #3,678
  • Feb 3, 2012 6:48am Feb 3, 2012 6:48am
Quoting hale-mary
Xman, you gonna wait until after the candle closes on the 1 hour to enter. For the red level news? Just trying to figure out how to tackle situations like these.
Nope i wont enter now.
I would like PA to make a clean break from the triangle so now im just allowing the market to play out.
If it happens it happens if it dont happen then it dont. its one of those things.

You see im sitting with 432 pips from this week. I dont want to jump in a trade and make a loss. I rather protect my profits especially since its a friday today.
X-man the legendary conqueror of markets
  • #3,679
  • Feb 3, 2012 6:50am Feb 3, 2012 6:50am
I just came home and entered short.

Didnt check the calendar though...
Thoughts are things
  • #3,680
  • Edited 6:58am Feb 3, 2012 6:58am | Edited 6:58am
You might want to exit before the big releases in 30 mins - those can be severely painful!
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