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  • #4,761
  • Feb 16, 2012 6:45am Feb 16, 2012 6:45am
Quoting Scalpist
Anyone in long position EURUSD?
My demo hit S/L for GBPUSD just now.
Now I have a long position for EU.
I am long EU ben hunting it all day.... +25 and already stops at BE...
  • #4,762
  • Feb 16, 2012 6:51am Feb 16, 2012 6:51am
Quoting Scalpist
Anyone in long position EURUSD?
My demo hit S/L for GBPUSD just now.
Now I have a long position for EU.
I'm long ....ish .... 1.3002.... not expecting much ? but we see!
  • #4,763
  • Feb 16, 2012 6:51am Feb 16, 2012 6:51am
Hi ALL,

I was out the last 3 hours and missed the NY open.
Anyway, my trade manager took care of my hourly trades.
I just came back in time to close my H4 trades too. This current H4 is too strong and I will lose too much of my floating profits.

Now I need to see how today will close.
I need to see that today close below 1.3026.
Then tomorrow I will look for short setup, i.e. to sell the rally.

Time for me to hit the sack.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,764
  • Feb 16, 2012 6:51am Feb 16, 2012 6:51am
Me too! But my TP is higher, I prefer to TP at LH hehe..

This is a damn good system! But hey, I am still learning and testing the power of Wolverine's claw!

REgards
  • #4,765
  • Feb 16, 2012 6:56am Feb 16, 2012 6:56am
Quoting emmanuel7788
Hi ALL,

I was out the last 3 hours and missed the NY open.
Anyway, my trade manager took care of my hourly trades.
I just came back in time to close my H4 trades too. This current H4 is too strong and I will lose too much of my floating profits.

Now I need to see how today will close.
I need to see that today close below 1.3026.
Then tomorrow I will look for short setup, i.e. to sell the rally.

Time for me to hit the sack.

sleep well... its 5pm here so I'm about to hop on my mountain bike for a bit of a breather ......hmmm slow day . in two trades ... a long term short and a short term long EU ...both looking good
  • #4,766
  • Feb 16, 2012 7:07am Feb 16, 2012 7:07am
Hi,

I mentioned earlier about the FOMC APB monkey bar at 15 Feb GMT1900.
Here is the update chart of the regr-channel breakout which just happened. This is better seen on lower TF like M15 and M30.
Too fast on H1 to catch.

Cheers!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Regr-ch breakout 16-2-2012 10-56-38 PM.png Size: 86 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,767
  • Feb 16, 2012 7:11am Feb 16, 2012 7:11am
Quoting hale-mary
In backtesting, I see a lot of days last year like today. basically price is not really moving. If I went for a counter trend log that would have failed even though TDI crossed. Going short doesnt seem like it would have been worthwhile. Emmanuel talked about a base forming for confirmarion to go long.

Only stayed out today because of a gut feeling, but that has been wrong so many times. Something needs to clue me in that it may be bad to enter (i just dont see it yet)

Also in post 4701 I mentioned that if asia is moving then london might chop...

Hi h-m,

sorry that I missed reply your earlier post.

As a technical trader, i follow what I see on my charts. From my years trading the stock market, I keep track on how Asian markets like Tokyo, Shanghai, Hong Kong exchanges perform. These markets reacts lagging behind Europe and the US. There is some correlation between stock market and the forex market. There are many different views on this market correlation, for example, which market leads. Some say stock market lead, other say forex market lead. We never know the true answer. All I know is there is money flow and liquidity, there is interest rates to consider especially the JPY and USD rates, there are carry trades. There is a lot of speculative elements not to ignore them.

In trading the forex market, we all know that the price move in waves all the time. The Asian session is usually narrow range, so it is good for scalpers and UJ traders. Choppy market are also waves but in much lower timeframe. As traders, we must be in the market all the time to feel the rhythm of the waves. Our emotions and thoughts are very different when we are in the market with open trades to manage and when we are not in the market looking and waiting for trade setups.
We do not know what the market will do next. But we know price action and use that and interpret many things like trend, momentum, strength, etc. All these are market sentiments. The better we are at making such interpretation in a consistent way, they better we trade. There are different market types and it switches from one to another in market cycles.
There is a lot I have in my mind right now. Probably end up writing a book if I do not stop here. LOL.

But let’s focus on this S3 H1 EU method. It works well to trade the London and New York session when we see price action momentum. This is the market type I mention above. We all see how traders capture 50pips TP with 50pips SL. Trade results shows that this method works. When this is the traders business objective, it is great when he/she can make it work consistently.

But I use this method and enter the market and I manage my trades differently to maximise profits. I have a different money management method using a multi-lot entry and exits, scaling in new positions using earned profits to multiply the return of every market move.
Another way how I trade is, that I convert my S3 Hourly trade to a short term swing trade when I see favourable market condition on higher timeframe like H4 and D1. The trade taken yesterday 15 Feb is an example. You know that getting a good trade setup is not easy, so when I get a good entry and caught in the flow, I will follow the market rhythm and ride the flow to its maximum.

Really must hit my bed right now, more than 10% in my blood and start to talk jibberish.....

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,768
  • Feb 16, 2012 7:38am Feb 16, 2012 7:38am
50% retracement anyone???
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 104 KB
X-man the legendary conqueror of markets
  • #4,769
  • Feb 16, 2012 7:44am Feb 16, 2012 7:44am
Locked in 40 pips at TP 1
Moved SL to BE and will have a risk free trade until TP 2
X-man the legendary conqueror of markets
  • #4,770
  • Feb 16, 2012 7:45am Feb 16, 2012 7:45am
Quoting X-Man
Locked in 40 pips at TP 1
Moved SL to BE and will have a risk free trade until TP 2
Well done mate
  • #4,771
  • Feb 16, 2012 7:46am Feb 16, 2012 7:46am
saw that.. went in..again unsure but saw that.

Xman did you enter 5 pips above previous candle?
  • #4,772
  • Feb 16, 2012 7:46am Feb 16, 2012 7:46am
To those who went long,
What signal did you guys take? just to help me to look out for it next time?
I.e range breakout or pullback etc
Thanks
  • #4,773
  • Feb 16, 2012 7:50am Feb 16, 2012 7:50am
Quoting X-Man
Locked in 40 pips at TP 1
Moved SL to BE and will have a risk free trade until TP 2
Good entry
I entered late at 1.30479

arasheed
  • #4,774
  • Feb 16, 2012 7:53am Feb 16, 2012 7:53am
Quoting robthorp
To those who went long,
What signal did you guys take? just to help me to look out for it next time?
I.e range breakout or pullback etc
Thanks
For me I trade 30mins chart first there was divergence, we had market baseline under 38 also a Trading Traders Dynamic Index Squeeze... for me this indicates a breakout to the upside most of the time!!! Waited all day and finally came
  • #4,775
  • Feb 16, 2012 7:54am Feb 16, 2012 7:54am
Quoting robthorp
To those who went long,
What signal did you guys take? just to help me to look out for it next time?
I.e range breakout or pullback etc
Thanks
Simple and vivid crossing up of TDI
2nd Bullish and long candle
Resistance at previous Red Candles showing Reversal of Down trend.

arasheed
  • #4,776
  • Edited 8:37am Feb 16, 2012 7:54am | Edited 8:37am
Quoting hale-mary
saw that.. went in..again unsure but saw that.

Xman did you enter 5 pips above previous candle?
Yes i place trade 5 pips above previous candle


When PA slows down today then PA needs news to gain momentum and that usually almost happens during the London and NY overlap.
You just have to keep your eye on the forex calender and notice when is there red alert news and you trade that TDI cross
X-man the legendary conqueror of markets
  • #4,777
  • Feb 16, 2012 7:54am Feb 16, 2012 7:54am
Quoting josh11
For me I
Thanks for explanation!
And Congrats!
  • #4,778
  • Feb 16, 2012 7:56am Feb 16, 2012 7:56am
Quoting robthorp
Thanks for explanation!
And Congrats!
Anytime
  • #4,779
  • Feb 16, 2012 7:58am Feb 16, 2012 7:58am
More confirmation is that TDI was in the 32 zone so I would look for a long when TDI is there.
And if you payed attention you would notice the the entire day was slow then when momentum picks up you can see it automatically
X-man the legendary conqueror of markets
  • #4,780
  • Feb 16, 2012 7:58am Feb 16, 2012 7:58am
Damn it! I thought it would trace up to 38.2 and my TP was there but I also put in a 15pip trailing stop, so it stopped my out at around break even then went up to where my TP was. That's just annoying!
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