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Symphonie Trader System

  • #5,201
  • Feb 13, 2012 3:57am Feb 13, 2012 3:57am
Anyone going to trade EURUSD during NY open so we can discuss if entry points are justified or not?
  • #5,202
  • Feb 13, 2012 4:21am Feb 13, 2012 4:21am
Quoting dakuki
Would be great if you could paste the adjusted Heiki Ashin and Stars/Arrow indicator you use there!! Thank you!
The arrow indicator you will find in the paperclip at the top of the thread because it was posted by realjumper. I am in the same buy without the heiken ashi or star indicators.
  • #5,203
  • Feb 13, 2012 4:45am Feb 13, 2012 4:45am
This is an entry I just made, it was 4 blue when I placed the order and by the time I get the screen shot ready Extreme turned red, but the price stays up so I plan to keep it going since I think that it will turn back blue.

Is this entry reasonable? Or should I have waited for another bar?

edit: closed at +1pip since it didn't repaint blue and the next bar stayed red too.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 50 KB
  • #5,204
  • Feb 13, 2012 4:56am Feb 13, 2012 4:56am
Quoting SnailRoll
This is an entry I just made, it was 4 blue when I placed the order and by the time I get the screen shot ready Extreme turned red, but the price stays up so I plan to keep it going since I think that it will turn back blue.

Is this entry reasonable? Or should I have waited for another bar?
Well, based on the rules, yes it is correct.

IMO, I wouldn't take that trade because market is really quiet for the moment (no news coming out, greece thing yesterday), you're just few pips from the daily R1, stochs aren't really good placed on M5, you're near a 61.8 fib level.
E/U already made is highs this morning (around .32830).
#### Follow me at @LioH_ on Twitter ... ####
  • #5,205
  • Feb 13, 2012 4:58am Feb 13, 2012 4:58am
Quoting SnailRoll
This is an entry I just made, it was 4 blue when I placed the order and by the time I get the screen shot ready Extreme turned red, but the price stays up so I plan to keep it going since I think that it will turn back blue.

Is this entry reasonable? Or should I have waited for another bar?
As per the system it is a reasonable trade to enter. I wouldn't have entered though because the market is very sluggish and choppy so far today which makes trading difficult. If you have a look at the long tailed candles and all those doji looking candles over the past couple of hours, it's a sign that the market doesn't know what to do.

There's no high impact news scheduled to kick this thing along as far as I know, so I would be very hesitant to enter a trade at all for now.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #5,206
  • Feb 13, 2012 4:59am Feb 13, 2012 4:59am
Quoting lhDT
Well, based on the rules, yes it correct.

IMO, I wouldn't take that trade because market is really quiet for the moment (no news coming out, greece thing yesterday), you're just few pips from the daily R1, stochs aren't really good placed on M5, you're near a 61.8 fib level.
E/U already made is highs this morning (around .32830).
Great, thank you! I want to be able to make sure I am getting the rules right, then I can start adding other consideration such as the points you mentioned and be able to pick a winning trade more often.

Just saw realjumper's post after I posted this one. Thank you realjumper for explaining your reasoning as well.
  • #5,207
  • Feb 13, 2012 5:03am Feb 13, 2012 5:03am
Quoting SnailRoll
This is an entry I just made, it was 4 blue when I placed the order and by the time I get the screen shot ready Extreme turned red, but the price stays up so I plan to keep it going since I think that it will turn back blue.

Is this entry reasonable? Or should I have waited for another bar?

edit: closed at +1pip since it didn't repaint blue and the next bar stayed red too.
I would not have taken this although it does fit system rules...My reasons for not taking it would have been because. there was a good rally up this morning and now the market is taking a breather as it quite often does at this time of day..Also being close to the R1 line while market is slow is not a good idea..

I would now be waiting for the US Session to start a re-monitor the market..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #5,208
  • Feb 13, 2012 5:04am Feb 13, 2012 5:04am
Lost 30 pips today, rough day. In short right now currently at -9 pips, got long signal on M5 but I ignore it. I am switching to M15 TF. In the M5 TF signal keep switching from long to short, but because we are on around the top I'm more confidence in short ATM.
  • #5,209
  • Feb 13, 2012 5:07am Feb 13, 2012 5:07am
Quoting Passerby
Lost 30 pips today, rough day. In short right now currently at -9 pips, got long signal on M5 but I ignore it. I am switching to M15 TF. In the M5 TF signal keep switching from long to short, but because we are on around the top I'm more confidence in short ATM.
It's a difficult market today.....sometimes just keeping your money in your pocket is the best position to take
Doing what you like is Freedom. Liking what you do is Happiness.
  • #5,210
  • Feb 13, 2012 5:10am Feb 13, 2012 5:10am
Quoting realjumper
It's a difficult market today.....sometimes just keeping your money in your pocket is the best position to take
Yep indeed. Better stay away until US session open.
#### Follow me at @LioH_ on Twitter ... ####
  • #5,211
  • Feb 13, 2012 5:13am Feb 13, 2012 5:13am
Quoting realjumper
It's a difficult market today.....sometimes just keeping your money in your pocket is the best position to take
I'll be in sideways after closing this one, we'll see if this one give me some pips or make me lost more. No more trades before NY I think, but since I'm already in I'll stay till the end.

PS: My target is around daily S1 and SL just above R2.
  • #5,212
  • Feb 13, 2012 5:26am Feb 13, 2012 5:26am
Hi guys!

Great community. Would really appreciate it if someone could paste the best Support & Resistance/Pivot Levels Indicator you are using here. THANK YOU!
  • #5,213
  • Feb 13, 2012 5:40am Feb 13, 2012 5:40am
Quoting Passerby
Lost 30 pips today, rough day. In short right now currently at -9 pips, got long signal on M5 but I ignore it. I am switching to M15 TF. In the M5 TF signal keep switching from long to short, but because we are on around the top I'm more confidence in short ATM.
I thought I was the only one being whipsawed to death today. well I'm sitting out until NY opens.
Island hopping throughout the Caribbean
  • #5,214
  • Feb 13, 2012 5:51am Feb 13, 2012 5:51am
Quoting dumplin_eater
I thought I was the only one being whipsawed to death today. well I'm sitting out until NY opens.
Another test on upper trend line, and it bounces from there. Keep switching from long and short signal on M5. If she failed to break the trend line under, this one going nowhere.
Attached Image (click to enlarge)
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  • #5,215
  • Edited 6:50am Feb 13, 2012 6:13am | Edited 6:50am
Everyone should be very careful concerning long positions on the EURUSD because this has all the hallmarks of a failing 5 wave which is a very strong reversal signal. Make sure you watch closely the acending wedge formations for breaks to the downside as once this channel is broken that is a clear signal the market is reversing and the EURUSD will be dropping.

The Greece situation is a the perfect catalyst for this strong reversal so be careful with your longs and again watch the acending channel.

In otherwords....watch 1.32000 for a break there is a channel break and signals a drop.

Evaluator. :nerd:

5th Wave Failure

In some circumstances, Wave 5 is so weak that it fails to progress past wave 3, causing a double top at the end of the trend. Elliott called it a Failure, but it is also known as a truncated or abbreviated wave. Such cases are rare, but when visible it indicates that a market has prematurely lost strength and momentum or that a market that was previously weak has suddenly gained buying interest, depending on original trend direction:
http://www.20minutetraders.com/image...ve-failure.gif
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 4 hour 13feb2012.jpg Size: 89 KB
  • #5,216
  • Feb 13, 2012 6:19am Feb 13, 2012 6:19am
Quoting Evaluator
Everyone should be very careful concerning long positions on the EURUSD because this has all the hallmarks of a failing 5 wave which is a very strong reversal signal. Make sure you watch closely the acending wedge formations for breaks to the downside as once this channel is broken that is a clear signal the market is reversing and the EURUSD will be dropping.
Thanks for the heads up.
Pivot Boss in the making~
  • #5,217
  • Feb 13, 2012 6:25am Feb 13, 2012 6:25am
Busy day, just manage 2 trades today in M5. Both +10pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-02-13_2022.png Size: 61 KB
Pivot Boss in the making~
  • #5,218
  • Feb 13, 2012 6:36am Feb 13, 2012 6:36am
Quoting jurn_e
Busy day, just manage 2 trades today in M5. Both +10pips.
Two trades already at +15, should be more than 30+ but still few pips from my TP(3 more pips and 5 pips from my previous target using measured moves). The price currently retesting my trend line, it bounce a bit ATM. I hope it holds.
  • #5,219
  • Feb 13, 2012 7:14am Feb 13, 2012 7:14am
  •  amcm
  • | Joined Sep 2010 | Status: assetmanagement-bfi.com, thanks... | 38 Posts
hi SnailRoll,
sorry bother but can you give the link for symphonie trading signals v1.7 ?
because i look for all and only find 1.4 and 1.8

thanks

Quoting SnailRoll
This is an entry I just made, it was 4 blue when I placed the order and by the time I get the screen shot ready Extreme turned red, but the price stays up so I plan to keep it going since I think that it will turn back blue.

Is this entry reasonable? Or should I have waited for another bar?

edit: closed at +1pip since it didn't repaint blue and the next bar stayed red too.
  • #5,220
  • Feb 13, 2012 7:29am Feb 13, 2012 7:29am
[quote=Evaluator;5379868]Everyone should be very careful concerning long positions on the EURUSD because this has all the hallmarks of a failing 5 wave which is a very strong reversal signal. Make sure you watch closely the acending wedge formations for breaks to the downside as once this channel is broken that is a clear signal the market is reversing and the EURUSD will be dropping.

The Greece situation is a the perfect catalyst for this strong reversal so be careful with your longs and again watch the acending channel.

In otherwords....watch 1.32000 for a break there is a channel break and signals a drop.

Evaluator. :nerd:

5th Wave Failure

In some circumstances, Wave 5 is so weak that it fails to progress past wave 3, causing a double top at the end of the trend. Elliott called it a Failure, but it is also known as a truncated or abbreviated wave. Such cases are rare, but when visible it indicates that a market has prematurely lost strength and momentum or that a market that was previously weak has suddenly gained buying interest, depending on original trend direction:

Thanks for the analytics Eval. This week I am trading Olivia's trendline settings on the 30 minute charts. So far 59 pips today, but I have been exiting on a little discretion because this market is choppy right now.
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