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  • #4,721
  • Feb 16, 2012 2:37am Feb 16, 2012 2:37am
Quoting Quezoy
Is it possible to go short in those conditions?
sure it is possible, but does S3 H1 has a continuation setup for you to catch a falling knife?
where will you enter and where will you place your iSL?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,722
  • Feb 16, 2012 2:48am Feb 16, 2012 2:48am
Probably those low prices at this moment cant attract enough sellers.
We'll see how this candle closes. I'd like to go long.
Thoughts are things
  • #4,723
  • Feb 16, 2012 3:02am Feb 16, 2012 3:02am
Hi X-Man,

I have entered base on Pullback of the Blue candle before LO and Enter during the vertical line of LO.. I open position when price went down around 10pips ..

Entry base on Pullback (Blue Candle) and Crossing of TDI... but it hit my SL at -23pips... (just slightly below previous candle).

Am i missing anything? Appreciate your comment..

Thanks..
Attached Image (click to enlarge)
Click to Enlarge Name: eu h1.gif Size: 29 KB
  • #4,724
  • Feb 16, 2012 3:05am Feb 16, 2012 3:05am
Quoting Quezoy
Probably those low prices at this moment cant attract enough sellers.
We'll see how this candle closes. I'd like to go long.
in 15 m a decent long candle after some time, but need more volume to impress.well see.
:
  • #4,725
  • Feb 16, 2012 3:12am Feb 16, 2012 3:12am
Quoting X-Man
Like my goals from here is you trade 5 standard lots very soon and then 10 standard lots with minimum risk of course (3% and under). My dream to earn a 7 digit income per month is very very close I can almost feel it.
Hi X-Man,

I recalled reading a post in the TMS thread on a scheme whereby you double the number of lots everytime you reach something like 1000 pips. Are you following this scheme? Thanks.
  • #4,726
  • Feb 16, 2012 3:16am Feb 16, 2012 3:16am
Arramiss78,

We are going to have to wait to see how this plays out.

But the daily, 4 hour chart and the 1 hour chart all look like
were in a downtrend to me...

snarlyjack
  • #4,727
  • Feb 16, 2012 3:19am Feb 16, 2012 3:19am
Quoting arramiss78
Hi X-Man,

I have entered base on Pullback of the Blue candle before LO and Enter during the vertical line of LO.. I open position when price went down around 10pips ..

Entry base on Pullback (Blue Candle) and Crossing of TDI... but it hit my SL at -23pips... (just slightly below previous candle).

Am i missing anything? Appreciate your comment..

Thanks..
Couple of things :
- You based your trade on the Berlin Open candle ... my personal experience is these are often fakeouts
- Although it may have looked like a pullback candle, it wasn't validated because price did not continue upwards on the next candle ... i.e. the LO candle did not pass the high of the previous candle
- As snarlyjack pointed out, we are in a strong strong downtrend, so to even consider a long should require extremely strong signals

Just my 2c
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #4,728
  • Feb 16, 2012 3:27am Feb 16, 2012 3:27am
Quoting jasonnevis
Here it is, just adjust it to your time zone. Here is a website to do it.

http://forex.timezoneconverter.com/
thanks for the link and indicator
  • #4,729
  • Feb 16, 2012 3:32am Feb 16, 2012 3:32am
Quoting arramiss78
Hi X-Man,

I have entered base on Pullback of the Blue candle before LO and Enter during the vertical line of LO.. I open position when price went down around 10pips ..

Entry base on Pullback (Blue Candle) and Crossing of TDI... but it hit my SL at -23pips... (just slightly below previous candle).

Am i missing anything? Appreciate your comment..

Thanks..
Let me try this!

1. Whole number area 1.3
2. PA under MA60
3. Lots of news on greece.
4. M5 is ranging in less than 20pips
5. Daily and H4 downtrend

Now i am only looking for shorts on EU, that pullback candle u said might just be X man cashing out his 100+ pips from yesterday short. lol

Think you need to read more on the thread from page 1.

X man pls correct me if there is any mistake.
  • #4,730
  • Feb 16, 2012 3:47am Feb 16, 2012 3:47am
Quoting arramiss78
Hi X-Man,

I have entered base on Pullback of the Blue candle before LO and Enter during the vertical line of LO.. I open position when price went down around 10pips ..

Entry base on Pullback (Blue Candle) and Crossing of TDI... but it hit my SL at -23pips... (just slightly below previous candle).

Am i missing anything? Appreciate your comment..

Thanks..

Hi arramiss78

Refer to PHX62 's post 4269 ..you might find an answer there for this situation.
  • #4,731
  • Feb 16, 2012 3:52am Feb 16, 2012 3:52am
let market find support and test it first before you want to go Long.

1.3000 is still tested, but it is still unknown if it is strong enough as a base for a Long. It is today' S1

You will need a herd of raging bulls to turn this around. S3 traders' volume just not enough out there yet to turn things around in this fast and furious market.

Who has that much interest in Euro to save our Greek friends and the EuroUnion?

Speaking about volume, how do we see the forex market volume?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,732
  • Feb 16, 2012 3:55am Feb 16, 2012 3:55am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
There are a lot of red news coming up may be the market is just waiting for that...
  • #4,733
  • Edited 7:52am Feb 16, 2012 4:06am | Edited 7:52am
Simply Hi From China
To X-Man & all of my fellow trader friends

I heartily thankful to you & want to contribute a little,
regarding Market Open Line, I have an indicator
may be this one all of you saw before here or somewhere
on Forex Factory but again I want upload it here
on my favorably Thread

X-Man's real super simple System S3

Keep it up X-Man !!!

Attached File(s)
File Type: mq4 Market Panel.mq4   40 KB | 607 downloads
The more you trade the less you earn.
  • #4,734
  • Feb 16, 2012 4:06am Feb 16, 2012 4:06am
Quoting emmanuel7788
Speaking about volume, how do we see the forex market volume?
Recently I have been reading a thread which has touched on forex volume, its not the main objective of the thread, but from my impression, most traders seem to think volume indicators dont hold any true relevance to actuall forex volume.
This is because there is no centralized market place in forex as there is in stocks, so the volume indicator on your trading platform will only be measuring the volume through your specific broker, and of course every brokers volume will differ.
Some say the most credable way to grasp a rough idea of volume is to look at the futures market, as that is a centralized market so volume can be measured, but i am unaware of how to interpret futures data into forex volume, im sure someone could englighten you however.
Hopefully the little i know on the subject was of help
  • #4,735
  • Feb 16, 2012 4:09am Feb 16, 2012 4:09am
I have entered long allready an hour ago.

It seems that people are not ready to sell at those prices, there has to be a retracement first. There was also a nice doji on 30 mins. I have a quite tight SL and am looking for a profit of about 30 pips.

May not be the wisest move, but I'll live with it.
Thoughts are things
  • #4,736
  • Feb 16, 2012 4:19am Feb 16, 2012 4:19am
Seems like a double inside bar forming
  • #4,737
  • Feb 16, 2012 4:28am Feb 16, 2012 4:28am
Quoting Quezoy
I have entered long allready an hour ago.

It seems that people are not ready to sell at those prices, there has to be a retracement first. There was also a nice doji on 30 mins. I have a quite tight SL and am looking for a profit of about 30 pips.

May not be the wisest move, but I'll live with it.
Since you are on M30, you will see the FOMC candle....15Feb GMT1900.
Nice looking isn't it?
That's what I call a APB 'monkey' bar/candle.

Draw a regressionn channel using that candle to the current low.
Should price breaks out of that regr-channel, you are in 'luck'.

This is my way to see a turnaround in situation like today.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,738
  • Feb 16, 2012 4:56am Feb 16, 2012 4:56am
Tnx for the advice.

If nothing moves till NY opens I'll try to get away with minimum profit and reposition myself.
Thoughts are things
  • #4,739
  • Feb 16, 2012 5:13am Feb 16, 2012 5:13am
Quoting robthorp
Some say the most credable way to grasp a rough idea of volume is to look at the futures market, as that is a centralized market so volume can be measured, but i am unaware of how to interpret futures data into forex volume, im sure someone could englighten you however.
Hopefully the little i know on the subject was of help
With this rather dull market I've been researching too ... my take on the futures / options thing is that it's about seeing where the big volumes of orders are placed because that will likely indicate a strong support resistance ... or something like that ... but for now my brain is fuzzled and it's sleep time ...

I'm sure dcginc will have some idea whether that's worthwhile to look into or not ...

Anyways, I hope you guys make some pips ... for me today, it's been no trade, and midnight here means it's over and out!
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #4,740
  • Feb 16, 2012 5:16am Feb 16, 2012 5:16am
Hi All.... snarlyjack, antantnz, marcoxq and sarmatius....


Thank you for helping me here.... I have notice few things from your advises and also from previous PHX62 post refered by sarmatius. It is highly base on thorough backtesting over and over again..(just like X-Man mentioned..) I will do that and hopefully will have the 3rd eye like all of you here.. thanks guys, really appreciate it...

happy trading.........
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