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  • #341
  • Feb 2, 2012 1:42am Feb 2, 2012 1:42am
AUDUSD

This pair is in a strong bullish trend and the M chart, gives us great information, meanwhile the D chart tells us something about the buyers .
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Nothing personal,just business
  • #342
  • Feb 2, 2012 4:39am Feb 2, 2012 4:39am
Quoting fxgroup
AUDUSD

This pair is in a strong bullish trend and the M chart, gives us great information, meanwhile the D chart tells us something about the buyers .
The candles around the 30 Jan 2012 PB formed a triangle like this:

http://www.forexfactory.com/attachme...4&d=1327969044

Then the Jan 31 IPB formed but at the time it really looked like a double top (the other top being the Jan 26 PB). The IBP body is contained inside the bearish PB body as well.

What elements made you decide that it was an IPB and not a double top retracing on the monthly R 1.070?

Where to put the buy order if one was not in the market from earlier? Straight above the bearish PB would seem dangerous because the sellers are strong all round it, but putting the order above the other candles long shadows would yield a terrible Risk:Reward. No trade for that, right?
  • #343
  • Edited 12:48pm Feb 2, 2012 10:18am | Edited 12:48pm
[quote=dfumagalli;5348675]



Quote
What elements made you decide that it was an IPB and not a double top retracing on the monthly R 1.070?
The close of the buyers PB gives the S of the D RM and as you notice the candle (IPB) closed within this RM.

Quote
Where to put the buy order if one was not in the market from earlier? Straight above the bearish PB would seem dangerous because the sellers are strong all round it, but putting the order above the other candles long shadows would yield a terrible Risk:Reward. No trade for that, right?
I'm actually seeing a D RM development and for someone that is not yet in market ,a retest with confirmation as S of my MM level, would be the safiest way to jump in.
Nothing personal,just business
  • #344
  • Feb 3, 2012 2:43pm Feb 3, 2012 2:43pm
AUDNZD arrived to a very important level into an overall bullish channel !
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  • #345
  • Feb 3, 2012 3:52pm Feb 3, 2012 3:52pm
[quote=fxgroup;5335485][quote=Dariusz;5324650]

S&P is very similar to DJ and we see that the big move starts with a strong buyers reaction as a M BUOB.

After some time ...
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  • #346
  • Edited Feb 4, 2012 10:26am Feb 3, 2012 3:58pm | Edited Feb 4, 2012 10:26am
Quoting fxgroup
AUDNZD arrived to a very important level into an overall bullish channel !
You right yestarday was bottom Support 1.28210
  • #347
  • Feb 4, 2012 3:06am Feb 4, 2012 3:06am
[quote=fxgroup;5034526]
Quoting kedridder

One of the trades that gives me more satisfaction is chfjpy.

1-pin bar(PB)=sellers confirmation, that closes bellow the level and bellow the trend line(TL)=sellers reaction and the first order not filled
2-inside bar(IB) that closes bellow the level=the order remain at the same level, but the SL put lower allowing me to increase the size position.

Hi fxgroup,

It is me again. I am currently studying you thread now. I noticed that on the day entry, It looks like you are using a Sell Stop entry order. If yes, any reason or advantage using this?

Thank you and have a good weekend!

Oliver
  • #348
  • Feb 4, 2012 4:27am Feb 4, 2012 4:27am
[quote=oliverzhao;5354923]
Quoting fxgroup


Hi fxgroup,

It is me again. I am currently studying you thread now. I noticed that on the day entry, It looks like you are using a Sell Stop entry order. If yes, any reason or advantage using this?

Thank you and have a good weekend!

Oliver
I may answer this easily.

A key to this method is PPT and TTP (Plan The Trade and Trade The Plan).

You wait for the current daily candle to close and then PPT.
The plan will usually trigger only after some hours and will last from 1 day to weeks.
A stop entry order lets you really plan the trade ahead and leave the plan trade itself while you do something more fun / relaxing than staring at a monitor.

This method is as simple (not easy) as it gets: you slam a stop order, go to sleep / get out with girl friend, come back in 2-3 days and take the cash!
  • #349
  • Feb 4, 2012 10:10am Feb 4, 2012 10:10am
[quote=dfumagalli;5354976][quote=oliverzhao;5354923]

A key to this method is PPT and TTP (Plan The Trade and Trade The Plan).

you slam a stop order, go to sleep / get out with girl friend, come back in 2-3 days and take the cash!

Exactly, it is like coresponding chess and we avoid overtraiding !
  • #350
  • Feb 4, 2012 3:48pm Feb 4, 2012 3:48pm
What do you think abt this pair ?
Attached Image(s) (click to enlarge)
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  • #351
  • Feb 4, 2012 4:16pm Feb 4, 2012 4:16pm
[quote=dfumagalli;5354976]
Quoting oliverzhao

I may answer this easily.

A key to this method is PPT and TTP (Plan The Trade and Trade The Plan).

You wait for the current daily candle to close and then PPT.
The plan will usually trigger only after some hours and will last from 1 day to weeks.
A stop entry order lets you really plan the trade ahead and leave the plan trade itself while you do something more fun / relaxing than staring at a monitor.

This method is as simple (not easy) as it gets: you slam a stop order, go to sleep / get out...
Thank you dfumagalli! I have not got the chance to read the threads you recommended. It think they must be very helpful!

two more questions, you know anything could happened in FX market:

1. the price going up after the pin bar in this case, and close even higher. are you going to move the entry a little bit higher or cancel the order or keep at it is: reason for moving is you can have a better entry. reson for cancel is the market did not go as we expected. reason for keeping is once the retracement finishes, it will go down and hit my entry.

2. why do not you enter the market once ithe pin bar is closed? our entry signal/candle is there already. I know the price may go up, what happend if the price goes down without going up? how do we handle the case like this?

Thank you again! Have a good weekend!


Oliver
  • #352
  • Feb 5, 2012 1:04pm Feb 5, 2012 1:04pm
[quote=oliverzhao;5355589]
Quoting dfumagalli

Thank you dfumagalli! I have not got the chance to read the threads you recommended. It think they must be very helpful!

two more questions, you know anything could happened in FX market:

1. the price going up after the pin bar in this case, and close even higher. are you going to move the entry a little bit higher or cancel the order or keep at it is: reason for moving is you can have a better entry. reson for cancel is the market did not go as we expected. reason for keeping is once the retracement finishes,...
I am not an English spoken so I could use two example graphs. I don't clearly understand your questions.
  • #353
  • Feb 5, 2012 2:43pm Feb 5, 2012 2:43pm
Might be interesting ....
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  • #354
  • Feb 5, 2012 7:43pm Feb 5, 2012 7:43pm
Quoting Dariusz
Might be interesting ....
1) On weekly chart, the bearish PB encloses the one leaving the RM.

This means the bearish PB is still not invalidated.
I am not FXGroup to tell you what to (not) do, but I'd be very prudent going long with such situation.

2) On daily chart the BUOB closed above RN 77.
If you are fine at very low risk:reward you have to put a TP at max 77.34 (see liquidity of PB at 02 Dec 2011. Then the next TP at max RN 78.

3) Don't forget the long term (M) and W WPD: both were bearish and evolved into a RM. This means there will still be a bearish bias until a confirmed reversal occurs.

Disclaimer, applicable to this reply and all the future ones: I am just a "student" of this method so take this with a grain of salt.
  • #355
  • Feb 6, 2012 1:38am Feb 6, 2012 1:38am
Disclaimer, applicable to this reply and all the future ones: I am just a "student" of this method so take this with a grain of salt.[/quote]

Dfumagalli
Yes , You absolutely right. At this stage I think it is quite risky, only as was said low TP is possible and price might stuck in RM for while, but it is worth to watch and see futher develop. I wait for conf. till buyers closed at 77.59.

I am "student" too, I am looking for all possible advice from experienced ppl like You.
  • #356
  • Feb 6, 2012 1:40am Feb 6, 2012 1:40am
Quoting Dariusz
You right yestarday was bottom Support 1.28210
AUDNZD - very nice bullish development ;-)
  • #357
  • Feb 6, 2012 1:54am Feb 6, 2012 1:54am
Quoting Dariusz
What do you think abt this pair ?
which mt4 charting program you use, where you can trade chfusd?
interesting!
is your broker reliable?

tq
  • #358
  • Feb 6, 2012 8:48am Feb 6, 2012 8:48am
DowJones

Do you remember this ?...It is time for MM and it was from the beggining all part of my PTT&TTP !
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  • #359
  • Feb 6, 2012 3:44pm Feb 6, 2012 3:44pm
Quoting sniperfxmy
which mt4 charting program you use, where you can trade chfusd?
interesting!
is your broker reliable?

tq
Hi Sniperfxmy,

Sri for delay, I think You ment chfsgd pair.
I am using fxpro broker where this pair is available. Find more on websites or thread related to broker discussion.

Rgds.
  • #360
  • Feb 7, 2012 8:18am Feb 7, 2012 8:18am
Quoting Dariusz
AUDNZD - very nice bullish development ;-)
The bullish are in level's control with the W confirmation.
Nothing personal,just business
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