Islander and Medici trade the European open | Page 186 | Forex Factory

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Islander and Medici trade the European open

  • #3,701
  • Feb 29, 2012 1:42am Feb 29, 2012 1:42am
Quoting medici
My view on Switzerland coincides with the this:

http://www.youtube.com/watch?v=kTleAnziDSk
haha shit that dancing show was boring!
  • #3,702
  • Feb 29, 2012 1:49am Feb 29, 2012 1:49am
Quoting Dr.Scalpall
Medici, Have you made your pips this already this morning??. At least Swiss tv is a little more light hearted than Eastenders, Emerdale, Holby city... need I go on!!!!. Can't you see Nhen's desperate to get to our timezone - Thought you might gift him one of your staff cottages on the new estate!!. Of course I would but I only have the walled garden left!!! .
Mate he doesn't seem to want me on his side of the globe!


Concerning trading - wish I was in that short. Reviewing things at the moment so missing out unfortunately.
  • #3,703
  • Feb 29, 2012 1:55am Feb 29, 2012 1:55am
Quoting Dr.Scalpall
Medici, Have you made your pips this already this morning??. At least Swiss tv is a little more light hearted than Eastenders, Emerdale, Holby city... need I go on!!!!. Can't you see Nhen's desperate to get to our timezone - Thought you might gift him one of your staff cottages on the new estate!!. Of course I would but I only have the walled garden left!!! .
Good morning, doc! No, still enjoying the last bits of breakfast. Fine about the timezone, but Switzerland could be a poor choice. Best place would probably be south of Geneva, close to the border so you can escape the boredom. Then again, my cousin lives there and the only fun thing about her is her house in Verbier.

As for country estate, the move to spacious accomondation in a small Home Counties town has been wonderful. Can't understand why I spent all those years in London
  • #3,704
  • Feb 29, 2012 1:56am Feb 29, 2012 1:56am
Quoting nhen
haha shit that dancing show was boring!
You should see Eastenders then!!!!!. You would have to hide all the kitchen knives prior to watching that sh*t!!. Not even going to soil my keyboard typing it into youtube!!.

medici - Harry Enfield - Classic!! If I were female I think it could have been a "Thank the lord for Tena Lady moment" !!.
  • #3,705
  • Feb 29, 2012 2:38am Feb 29, 2012 2:38am
Here's a thought on trading the Cloud. It seems like trades can be classified into two categories - "out of the cloud" (i.e. with the trend. Marked yellow on yesterday's chart) and "into the cloud" (reversal trades with divergence and 2H/2B. Marked purple in the chart). In this early hour this seems like an attractively simple way of conceptualising things.

Comments?
Attached Image (click to enlarge)
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  • #3,706
  • Feb 29, 2012 2:50am Feb 29, 2012 2:50am
Quoting medici
Here's a thought on trading the Cloud. It seems like trades can be classified into two categories - "out of the cloud" (i.e. with the trend. Marked yellow on yesterday's chart) and "into the cloud" (reversal trades with divergence and 2H/2B. Marked purple in the chart). In this early hour this seems like an attractively simple way of conceptualising things.

Comments?
Mm I think I'm with you... Glad you mentioned this as I was just going through posts regarding the cloud and doing some historical looking.

Not sure I can comment and add any value yet

EDIT - But I am with you 100% now, chart makes perfect sense.
  • #3,707
  • Feb 29, 2012 2:54am Feb 29, 2012 2:54am
Can I ask how you're the getting the fast MA to sit on top of the cloud? Is it simply a matter of the order the indis are added?
  • #3,708
  • Feb 29, 2012 2:59am Feb 29, 2012 2:59am
Quoting nhen
Can I ask how you're the getting the fast MA to sit on top of the cloud? Is it simply a matter of the order the indis are added?
The MA on the chart is simply the T3MA 17, and I just added it. Do you have a problem doing so?
  • #3,709
  • Feb 29, 2012 3:07am Feb 29, 2012 3:07am
Quoting medici
The MA on the chart is simpluy the T3MA 17, and I just added it. Do you have a problem doing so?
OK got it, I had the T3MA20 on there and was trying to change value but wasn't happening.

Standard T3MA is all good now.

So tonight entries would be these? Second one would be watching as some divergence so possible BE.
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  • #3,710
  • Feb 29, 2012 3:13am Feb 29, 2012 3:13am
Quoting nhen
OK got it, I had the T3MA20 on there and was trying to change value but wasn't happening.

Standard T3MA is all good now.

So tonight entries would be these? Second one would be watching as some divergence so possible BE.
Yes, but I would add the 7.30 short, which was the trade of the morning.
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  • #3,711
  • Feb 29, 2012 3:16am Feb 29, 2012 3:16am
Quoting medici
Yes, but I would add the 7.30 short, which was the trade of the morning.
Yep sorry I was assuming the first one would be held through the pullback
  • #3,712
  • Feb 29, 2012 3:19am Feb 29, 2012 3:19am
Quoting nhen
Yep sorry I was assuming the first one would be held through the pullback
Whereas I would cut it at the yellow spot...if not before.
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  • #3,713
  • Feb 29, 2012 3:25am Feb 29, 2012 3:25am
Quoting medici
Whereas I would cut it at the yellow spot...if not before.
Right on, cheers. The third trade - this current one - would have covered that on the green candle at the pivot or held through the chop?
  • #3,714
  • Feb 29, 2012 3:25am Feb 29, 2012 3:25am
M. - I agree with you about the 2 types of entries. I also keep your CII on a M5 chart as it does not appear to work as well on a 5RB chart. Probably I don't need to do, as the T3 Osc. shows divergence very well.

I am a big fan of HL/LH trading, thanks to Vantage, so I am keeping an eye on this with "cloud trading". I think your visual presentation of the "cloud" is fantastic. Thanks.
  • #3,715
  • Feb 29, 2012 3:36am Feb 29, 2012 3:36am
Quoting nhen
Right on, cheers. The third trade - this current one - would have covered that on the green candle at the pivot or held through the chop?
Would absolutely not have held it through the chop. There was Osc divergence, so I wouldn't be hoping for more than 10, and price was quite far away from the cloud when it hit the 3450 level.
  • #3,716
  • Feb 29, 2012 3:39am Feb 29, 2012 3:39am
Quoting orientos
M. - I agree with you about the 2 types of entries. I also keep your CII on a M5 chart as it does not appear to work as well on a 5RB chart. Probably I don't need to do, as the T3 Osc. shows divergence very well.
I'm using the Oscillator on M5 these days. Does the job as well, or better than CII, and is much smoother. See chart.
Quote
I am a big fan of HL/LH trading, thanks to Vantage, so I am keeping an eye on this with "cloud trading". I think your visual presentation of the "cloud" is fantastic. Thanks.

Thanks. Glad you like it. To me the visual aspect and the simplification make a big difference in making me feel comfortable and relaxed when trading.
Attached Image (click to enlarge)
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  • #3,717
  • Feb 29, 2012 3:51am Feb 29, 2012 3:51am
Quoting medici
Would absolutely not have held it through the chop. There was Osc divergence, so I wouldn't be hoping for more than 10, and price was quite far away from the cloud when it hit the 3450 level.
OK perfect thanks mate.

To be honest I think the more pertinent question is the second trade..

I guess my question is am I missing something that would prevent me covering on the pullback in the second trade? When I covered on pullbacks in the others.
On my chart I can't see any defining differences between the first and second and a reason for holding one and closing the other.
  • #3,718
  • Feb 29, 2012 4:04am Feb 29, 2012 4:04am
Quoting nhen
OK perfect thanks mate.

To be honest I think the more pertinent question is the second trade..

I guess my question is am I missing something that would prevent me covering on the pullback in the second trade? When I covered on pullbacks in the others.
On my chart I can't see any defining differences between the first and second and a reason for holding one and closing the other.
Good point, which brings in the M5 which I keep side by side with the RBs. Plenty of good reason in the yellow circle for taking a handful.
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  • #3,719
  • Feb 29, 2012 5:16am Feb 29, 2012 5:16am
Quoting medici
Good point, which brings in the M5 which I keep side by side with the RBs. Plenty of good reason in the yellow circle for taking a handful.
Thanks mate.

Perhaps the RB3 can also be of assistance? I think it's clearer for me.

First trade we had a bit of chopping, then a HL - could have closed there or waited and we then had a LL, followed by a HL and a nice RB rejection. Good reason to cover.

Second trade we had HL but it was followed by shooting star, LL and LH. Reason enough to stay in - for that to work though one would have to not be hasty and close on the first HL and wait for the next candle to play out.

Haven't marked entries because we know where they are.
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  • #3,720
  • Edited 9:56am Feb 29, 2012 9:38am | Edited 9:56am
Quoting Auron112
Trade 2 was a "Triple Tap" (did I steal that name from somewhere? Not sure) right off R1 at a nice turn time. Held for decent pips. +20
Didn't trade today but it doesn't look like I missed too much. Other than the mid-FH short and possibly the 11:40 long there wasn't much I would call "no-brainers" though there were certainly other pips to be taken. The long (see attached) was an interesting one, since the bearish triangle that formed looked so perfect (especially on M5). Too perfect, I think, so when the false break hammer presented itself I would have had to go for it.

Speaking of No Brainers, it popped in my head today where I had heard of Triple Tap trades and I wanted to give credit where it was due. Can't believe my memory is poor enough that I completely forgot I had read about it only a few months ago. It's a concept many of us have no doubt used for a while but I do like having a name for it. Steve W, the author, was known here as BillyRayValentine and I'm sure many of us have passed through his old No Brainer Trades thread (some old dogs like Medici even posted there in ancient times).

The second short in the attached picture is a somewhat decent example as well (but basically just a triple top because the tap would have HHs in a stronger move). Mostly I've adapted the Triple Tap concept to RBs for safe CT trading but it can work in tighter spots as well to scalp a few.

http://www.nobrainertrades.com/2011/12/triple-taps.html
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