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  • #5,041
  • Feb 20, 2012 8:51am Feb 20, 2012 8:51am
Quoting shoot2scoot
Rob, I am with you (possible short) because we are bumping at the top of daily channel with the weekly R1 just above and I think that most of the good news of any bailout has already been factored in by now. Let's not forget that this is at best a fudge not a solution that they are discussing!
Dont know. The move up today was based on the expectation of additonal money for Greece.
When the official statement comes I cant see how price will go down.

I'm done for today, no trade taken, but learned something new again.
Thoughts are things
  • #5,042
  • Feb 20, 2012 8:54am Feb 20, 2012 8:54am
Now I'm 20 + + + pips down from SELL I do. I will look after until at 12am Malaysian time. Possibility to reach the TP that can be difficult but if you get 20-30pips before the close of trade, worth about that for a single trade.
  • #5,043
  • Feb 20, 2012 9:20am Feb 20, 2012 9:20am
I try buy on bounce on R1 and bounce on mma TDI
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  • #5,044
  • Feb 20, 2012 9:54am Feb 20, 2012 9:54am
hello. is there any way to avoid fake out by using 4h method or 1hr method? i encountered alot of fake out today. TDI keep repainting in my chart.
  • #5,045
  • Feb 20, 2012 9:58am Feb 20, 2012 9:58am
Quoting robbo1961
2 bad transaction today.
1. EU -38
2. AU -28
Attachment

Attachment
hi robbo

any chance you could upload those daily pivots indi plz. much appriciated.
  • #5,046
  • Feb 20, 2012 10:03am Feb 20, 2012 10:03am
Quoting only20gp
hi robbo

any chance you could upload those daily pivots indi plz. much appriciated.
Here You are.
Attached File(s)
File Type: mq4 ###Auto Pivot.mq4   15 KB | 627 downloads
  • #5,047
  • Feb 20, 2012 10:08am Feb 20, 2012 10:08am
Losing trade....

PA sure looked right at the time.
Attached Image
  • #5,048
  • Feb 20, 2012 10:10am Feb 20, 2012 10:10am
Quoting robbo1961
Here You are.
Attachment

sweet, now im getting the real pivots. i installed a diffrent indi posted earlier here and the pivots were all wrong, not sure why but finaly its okay, thanks
  • #5,049
  • Feb 20, 2012 10:17am Feb 20, 2012 10:17am
Observations
1. Today the banks are closed in the USA...result...lower volume, especially during the NY session (no trades for me during NY).
2. The Asian session made a big move (62 pips) indicating to me that the London might not move very much, based on previous history this year.
3. The market is still unsettled with Greek debt situation and over the weekend, the Chinese made a move that affected the market.
4. I see lots of posts predicting where price will go "because". Predicting where the market will go is like predicting which direction the wind will blow and how hard it will blow. None of us can predict where the market will go because there are so many factors that make it move.
5. There is a fine line between "analysing the market" and "predicting the market". To succeed, we have to know the difference. Once we analyse the market setups, we only act on those setups and take the profits or losses. Successful trading must be mechanical, not emotional. Sometimes we try to find reasons for the market to go short or long because that is what we want it to do. As X-Man stated again today...." trade what you see and trust your system."

I took the long trade today, a little early (before the TDI had completed the cross). What I saw in my analysis was the trend for the past two trading days was up, price was above the 200 EMA, the TDI green line was above the 50 and crossing the yellow and red lines, and price had broken back above the 1.3200 mark (which was also a resistance line) and also broken above the previous red candle high, which had pulled back. That was enough for me to enter. Did I know the market would go 50 or 60 pips up? No, I did not...but based on my analysis, I traded it anyway and took what the market gave me.
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  • #5,050
  • Feb 20, 2012 10:18am Feb 20, 2012 10:18am
Quoting jasonnevis
Losing trade....

PA sure looked right at the time.
the last candle seemed like an undecided market, can still turn around in my opinion. the DR3 is a real wall that one.
  • #5,051
  • Feb 20, 2012 10:19am Feb 20, 2012 10:19am
nice little scalp of the r3 pinbar. Did not expect too much of a movement. In that case I go for a quick scalp of 10 pips. Total of today 40 pips. Not yet what it supposes to be but I am getting more comfortable with every trade.

ThNKS EVERYONE!!
  • #5,052
  • Feb 20, 2012 10:39am Feb 20, 2012 10:39am
Quoting jasonnevis
Losing trade....

PA sure looked right at the time.


2. As the London market opens we will look for signals using Price Action. We will not take any trade before the London opening.
I did the same mistake. -35 for me.
  • #5,053
  • Feb 20, 2012 10:40am Feb 20, 2012 10:40am
Mrs V took the US hols as a chance to have a day off. Our analysis over the weekend did suggest down but the big spike this morning changed all that.

If she had sold early London I'd like to think that the higher low, higher high (which is the basis of all our trading) sequence that has remained in tact on 1hr plus the bounce off the high from 15th would have seen her buying.

Anyway its hindsight now but I'm a believer in 1hr higher lows/lower highs and support/resistance is a trading basic. Put them both together and its powerful stuff.

Going forward we'll see what transpires but we are knocking on a very obvious tough area 3280.
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  • #5,054
  • Feb 20, 2012 11:09am Feb 20, 2012 11:09am
Quoting sarmatius
Im short as well.
Price broke through Dean Malone's PAC.
I am a little late in staying up with the thread today, taking the day off due to the holiday in the US. When looking for a confirming close outside a Malone PAC it is not price that must close outside the channel but the Synergy bar must close outside the channel. When you took the trade earlier it was price that was just sitting at the channel and the Synergy was still in the channel. Evne though the PAC is not used in X-man's system it is a very safe conservative confirmation. I have used Malone's method for about four years.

Might I suggest you go to www.compassfx.com and review the set-up video.
  • #5,055
  • Feb 20, 2012 11:11am Feb 20, 2012 11:11am
hi Phx62 could you share your template or session high low indicator . i try i-panorama but your indicator look more clear
  • #5,056
  • Feb 20, 2012 11:18am Feb 20, 2012 11:18am
Quoting Phx62
When I got to my computer to trade the LO and watched PA for a while:
1. I found that the Asian session had already moved down over 100 pips. 2. PA was sitting right on the 1.300 line and consolidating.
3. There was no cross of the TDI yet.
Based on that information I opted not to enter a trade and went back to bed. This morning I was able to catch the long trade after it pulled back up through the 1.300 and the TDI crossed over. This happened just before I left for work and I just closed that trade at the 200 EMA line for +136 pips. A very good...
Hi Phx62,

I have been studying your previous trades and hoping you wouldn't mind me asking from your last week's chart.

On Feb 16 during Asian Session prices moved down around 70 pips and just prior to LO there was a pullback candle with long wick and TDI cross up signaling a potential reversal. And yet you correctly did not enter a long trade at the LO.

May I ask what you saw that made you not want to take a long entry at LO?

Thanks.
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  • #5,057
  • Edited 11:34am Feb 20, 2012 11:21am | Edited 11:34am
Quoting Phx62
Observations

4. I see lots of posts predicting where price will go "because". Predicting where the market will go is like predicting which direction...
5. There is a fine line between "analysing the market" and "predicting the market". To succeed, we have to know the difference. Once we analyse the market setups, we only act on those setups and take the profits or losses. Successful trading must be mechanical, not emotional. Sometimes we try to find reasons for the market to go short or long because that is what we want it to do. As X-Man stated again today...." trade what you see and trust your system."

Couldnt agree more!!! Let price show u the path and trust ur system... This is how I trade day in day out!!! I also manage 50pip 2day...
  • #5,058
  • Edited 11:48pm Feb 20, 2012 11:34am | Edited 11:48pm
Quoting Cun
Hi Phx62,

I have been studying your previous trades and hoping you wouldn't mind me asking from your last week's chart.

On Feb 16 during Asian Session prices moved down around 70 pips and just prior to LO there was a pullback candle with long wick and TDI cross up signaling a potential reversal. And yet you correctly did not enter a long trade at the LO.

May I ask what you saw that made you not want to take a long entry at LO?

Thanks.
There are 3 reasons stated in the original post.....#3 stated there was no cross of the TDI yet.....the cross did not happen until the opening of the blue entry candle....once that happened, entry became a possibility. Once PA moved past the high of the red entry candle, my criteria for entry was met. I am always cautious when the Asian moves more than 60 pips in one direction because reversals usually do not happen....that is why I waited for price to pull above the last red candle.
Hope this helps.
  • #5,059
  • Feb 20, 2012 12:23pm Feb 20, 2012 12:23pm
Quoting Phx62
Thanks.....just trying to pay it forward!!!
I would like to thank you for your instructions.
Keep doing this
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  • #5,060
  • Feb 20, 2012 1:52pm Feb 20, 2012 1:52pm
Quoting Phx62
Observations
1. Today the banks are closed in the USA...result...lower volume, especially during the NY session (no trades for me during NY).
2. The Asian session made a big move (62 pips) indicating to me that the London might not move very much, based on previous history this year.
3. The market is still unsettled with Greek debt situation and over the weekend, the Chinese made a move that affected the market.
4. I see lots of posts predicting where price will go "because". Predicting where the market will go is like predicting which direction...
You're deadly efficient
Nice analysis.
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