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  • #5,541
  • Feb 27, 2012 7:04am Feb 27, 2012 7:04am
How does everyone feel about holding positions over the NY Open, Would you suggest closing positions before NY opens, or holding them with close SL etc.?
Thanks
  • #5,542
  • Feb 27, 2012 7:07am Feb 27, 2012 7:07am
Quoting ljin
guys look at the chart i attached. at LO today(no 2) is strong bullish and TDI cross up. but after a few pips up, it goes down and made the TDI bounce and goes down(and become red candle ). so in this case. should we wait until either the price passing prev candle(no 1) high or low to open the trade?
if i were done that. i should correctly enter short. but is my speculation is right?
I just give my own opinion. I'm new actually.

I did noticed that bullish candle just now but I doesn't trade it as it does not break Asian range. So I wait for another candle for confirmation.

Another thing is X-Man ever said that he normally will wait for 2nd candle close to enter trade except there is a very strong signal on first candle.

Correct me if i'm wrong.
  • #5,543
  • Feb 27, 2012 7:13am Feb 27, 2012 7:13am
Hi,
I don't really get where the TP in this system is. Could someone explain that?
Warning: Greenhorn Don't get greedy and stick to your strategy
  • #5,544
  • Feb 27, 2012 7:26am Feb 27, 2012 7:26am
Quoting ljin
guys look at the chart i attached. at LO today(no 2) is strong bullish and TDI cross up. but after a few pips up, it goes down and made the TDI bounce and goes down(and become red candle ). so in this case. should we wait until either the price passing prev candle(no 1) high or low to open the trade?
if i were done that. i should correctly enter short. but is my speculation is right?

my thoughts:

The no.1 candle you marked is typically those type of candle which the market is asking you, I will make my move, do you want to come along or do you want to be left behind?

you have to ask yourself -
when the market decide to make its move, I want it to take me along?
or
when the market decide to make its move, do I want to be left behind?

Next,

look at H4 formation, the no.1 H1 canldle is the last candle before this H4 candle close. Can you see that? To sell, we must always sell high. So, that H4 candle close is good for you to get a high price to jump in.

try to view the H4 candles when you are on H1 chart.

it will help better your trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,545
  • Feb 27, 2012 7:39am Feb 27, 2012 7:39am
Quoting DaChief
Hi,
I don't really get where the TP in this system is. Could someone explain that?
I don't understand your question.
Do you trade this S3 EU H1 system? If you do and have a chart to show where you enter your trade and place SL, it would help us answer your question.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,546
  • Feb 27, 2012 8:00am Feb 27, 2012 8:00am
Quoting emmanuel7788
I don't understand your question.
Do you trade this S3 EU H1 system? If you do and have a chart to show where you enter your trade and place SL, it would help us answer your question.
probably he was asking how many TP he should get. or R:R
  • #5,547
  • Feb 27, 2012 8:11am Feb 27, 2012 8:11am
There are only about 25pips to target only the ADR Low 27/02/2012 1.3356 today will be achieved. Would it be possible, experts and best friend?
  • #5,548
  • Feb 27, 2012 8:14am Feb 27, 2012 8:14am
Please ignore this post, wrong entry
Attached Image (click to enlarge)
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  • #5,549
  • Feb 27, 2012 8:48am Feb 27, 2012 8:48am
What do you think about actual situation, the price reach the strong resistance at 1.3369 from the 24.02, during a short trade shall we
exit
wait for a eventual break,
exit only with some back signals.?

Attached Image (click to enlarge)
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  • #5,550
  • Feb 27, 2012 8:53am Feb 27, 2012 8:53am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
Quoting ljin
guys look at the chart i attached. at LO today(no 2) is strong bullish and TDI cross up. but after a few pips up, it goes down and made the TDI bounce and goes down(and become red candle ). so in this case. should we wait until either the price passing prev candle(no 1) high or low to open the trade?
if i were done that. i should correctly enter short. but is my speculation is right?


the fact that price did not make it back to the hi of the previous day at frank open i was looking for a short,at the break low of the previous candle

my 2 cent
  • #5,551
  • Edited 9:32am Feb 27, 2012 8:54am | Edited 9:32am
I would exit as look left and you almost have a 100% retracement from the big move last week Friday.
  • #5,552
  • Feb 27, 2012 8:58am Feb 27, 2012 8:58am
London also has about 90pip average daily range so your looking to gain another 10pips.

Quoting D.d.
What do you think about actual situation, the price reach the strong resistance at 1.3369 from the 24.02, during a short trade shall we
exit
wait for a eventual break,
exit only with some back signals.?

...
  • #5,553
  • Feb 27, 2012 9:05am Feb 27, 2012 9:05am
but with a new element like the Pending Home Sales announcement : which finally are at 2% forecasted at 1.1% is it so important to push Euro down throug this resistance level?
  • #5,554
  • Feb 27, 2012 9:09am Feb 27, 2012 9:09am
Hi X-Man and PHX62,

This is my first trade for the week. The reason for the trade is

 

  1. London open tested the previous candle high and not able to break.
  2. There is hidden divergence to go long before london open, so didn't short after the close of the first london candle.
  3. First 2 candle of the London open is at 50% fibbo retracement so no entry
  4. Double bottom formed. Short at the break of the double bottom with SL 50 and TP 50
  5. Price stuck at S1 of the daily pivot.
  6. Closed for 25 pips profit .

I am new and still learning the system. X-man and PHX62 correct me if i am wrong.

Attached Image
  • #5,555
  • Feb 27, 2012 9:24am Feb 27, 2012 9:24am
Closed for +45 pips on EURUSD from London Open.
Currently sitting +26 on AUDUSD just before NY Open.
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  • #5,556
  • Feb 27, 2012 9:26am Feb 27, 2012 9:26am
I don't really get what a pullback candle is. Sorry but your english is a bit hard to read...
Warning: Greenhorn Don't get greedy and stick to your strategy
  • #5,557
  • Feb 27, 2012 9:42am Feb 27, 2012 9:42am
Two trades today....both entered after the first candle of LO moved past the low of the setup candle. PA did what it does quite often on Monday morning.....it continued in the direction of the Asian session.....EU +50.....EJ +150....nice start to the week.
I had some minor surgery last week so I was able to stay at home and study some other pairs for 5 days and incorporate them into my trading plan.....it paid off with the EJ this morning.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2012.2.27 EJ.gif Size: 28 KB
  • #5,558
  • Feb 27, 2012 9:43am Feb 27, 2012 9:43am
Watch the EURUSD possible bounce + break of TDI during NY session.
  • #5,559
  • Feb 27, 2012 9:47am Feb 27, 2012 9:47am
+50 TP HIT on AUDUSD.
Attached Image
  • #5,560
  • Feb 27, 2012 10:23am Feb 27, 2012 10:23am
When i read you guys post, i see alot of other indicator to trade in 1H, such a 4H fibo,retracement, pivot level..
but at strategy tester i cant change time frame and can only train using PA, TDI S&R line.

is it good enough or i need to use other backtesting method?

some advice please.
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