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  • #6,281
  • Mar 7, 2012 7:12am Mar 7, 2012 7:12am
Quoting Sender

none of the candles, in which u entered was a valid pullback candle..
I did not trade pullback candles. I traded the break out according to the S3 method (page 3 of pdf).

Quoting Sender
For example.. look at the first candle in which you entered (sell) the Candle tried to continue its way down, but it was rejected (long lower wick) .. after such a candle only a move up is possible.
Yes, I know. But when you trade a break out, how can you know in advance that the candle will be rejected?

thanks, gary
  • #6,282
  • Mar 7, 2012 7:13am Mar 7, 2012 7:13am
Quoting Awin
Well sender, it turns out your right.....price is falling now....
Just luck ...

I left with +25 Pips, because of the NY Open. Hope that NY will bring some volume in the market.

When the price continues to fall, i will set my TP to the Pivot S11.

Take care guys! Happy pipping
  • #6,283
  • Mar 7, 2012 7:13am Mar 7, 2012 7:13am
Quoting gms
I made 3 losses this week by entering a break out (confirmed by TDI), which turned out to be a pullback. Actually, I stupidly managed to buy the high and sell the low!

Now I stopped trading at all to prevent revenge trading and went back to backtesting. When I compare my backtest results with Phx62' charts, he miraculously always seems to know, when to stay away from a break out.

How do you guys determine at LO, if a breakout is real or not?

gary
Hi gary,

X-Man explicitly said in one of his previous post that there's a lot of fakeys on LO, so I guess you should be very cautious basing your entries at LO, unless of course, you have confluence with other indis, SR's , pivots, etc,etc...oh, did i mention TDI cross...
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #6,284
  • Mar 7, 2012 7:16am Mar 7, 2012 7:16am
Quoting Sender
Just luck ...

I left with +25 Pips, because of the NY Open. Hope that NY will bring some volume in the market.

When the price continues to fall, i will set my TP to the Pivot S11.

Take care guys! Happy pipping
careful man ADP coming out in 15 mins, you might get side-swiped.....i closed all my positions now...and yes, PRAYERS do help and "move mountains"....

In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #6,285
  • Mar 7, 2012 7:18am Mar 7, 2012 7:18am
News is out.. Good news for the US? Means PA might go down?
  • #6,286
  • Mar 7, 2012 7:24am Mar 7, 2012 7:24am
Quoting Awin
Hi gary,

X-Man explicitly said in one of his previous post that there's a lot of fakeys on LO, so I guess you should be very cautious basing your entries at LO, unless of course, you have confluence with other indis, SR's , pivots, etc,etc...oh, did i mention TDI cross...
@GMS!

Oh yes, totally forgot that one.. please beware of the LO head fake... is happens so many times, that i has its own name

Therefore i am only entering trades at LO only..
o with a very strong signals
o or if a strong moves continues from the asia session

Phx62 said once, that a 60pips move from asia session keeps on during LO.

Take care guys!
  • #6,287
  • Mar 7, 2012 7:37am Mar 7, 2012 7:37am
Quoting gms
I did not trade pullback candles. I traded the break out according to the S3 method (page 3 of pdf).


Yes, I know. But when you trade a break out, how can you know in advance that the candle will be rejected?

thanks, gary
Hey gary

ah ok.. sorry.. just thought you traded the pullback candles.

If i trade the asia break out, i am waiting for a strong candle, and enter at the 2nd strong candle...its the only way to make sure, that there is enough momentum to make the price run in the right direction ..

Hope this helps!
  • #6,288
  • Mar 7, 2012 8:01am Mar 7, 2012 8:01am
Quoting EvoPips
News is out.. Good news for the US? Means PA might go down?
Yeah.. but after the news came out, there was a uptrend (i dont why).... i went long (5min chart) with the tp to next EMA's.. there are 3x of them on the 5min chart (50, 100 and 200) almost together forming a band.. my tp was hit (8 pips) and now out..

Lets see if the PA will break the EMAs...
  • #6,289
  • Mar 7, 2012 8:03am Mar 7, 2012 8:03am
This is also a mystery to me. I have always tried to post when I have opened a trade not always after a positive close.

The few really good traders here always seem to only show when they close. I for one would love to challenge those really good traders using this system to post a comment when they have opened a trade and their reason behind it not after the trade was closed.

Quoting Awin
Hi gary,

X-Man explicitly said in one of his previous post that there's a lot of fakeys on LO, so I guess you should be very cautious basing your entries at LO, unless of course, you have confluence with other indis, SR's , pivots, etc,etc...oh, did i mention TDI cross...
  • #6,290
  • Mar 7, 2012 8:10am Mar 7, 2012 8:10am
Quoting nonfiction
This is also a mystery to me. I have always tried to post when I have opened a trade not always after a positive close.

The few really good traders here always seem to only show when they close. I for one would love to challenge those really good traders using this system to post a comment when they have opened a trade and their reason behind it not after the trade was closed.
I would also like to see it too

I believe this will help us see the big picture on the spot!
  • #6,291
  • Mar 7, 2012 8:22am Mar 7, 2012 8:22am
Was the previous candle a valid pullback candle? But I didn't close my short because the opening of the current candle is very very tiny.
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  • #6,292
  • Mar 7, 2012 8:24am Mar 7, 2012 8:24am
Quoting nonfiction
This is also a mystery to me. I have always tried to post when I have opened a trade not always after a positive close.

The few really good traders here always seem to only show when they close. I for one would love to challenge those really good traders using this system to post a comment when they have opened a trade and their reason behind it not after the trade was closed.
Absolutely true! Everybody should post loosers too.. like gms/gary did before !.. we can only learn from our mistakes.

As XMans already said, in the end there should be a average success factor of 70-80%.. as we are all beginners, there must be tons of mistrades!

I am posting loosers too, but today there was no one.. yesterday i hit my 50Tp with the strong move down.. my aim for today, 50 pips .. only 15 pips left.. hope i will get them soon
  • #6,293
  • Mar 7, 2012 8:29am Mar 7, 2012 8:29am
Here is my short position on AUDCAD. I have opened my position a bit earlier than I usually do.

Reason for gong short:

1) TDI has just Cross
2) Bounce of the 60 EMA
3) Below 200 EMA
4) Second bounce of the 1.058
5) TDI and TSL is 32 and above 50 so there is plenty of space to for a downward move.

Profit target around +30pips (2x15pip sl) during the NY session.
Attached Image
  • #6,294
  • Mar 7, 2012 8:36am Mar 7, 2012 8:36am
Took Trade on 15Min EUR USD chart on break of the previous pullback candle, which was rejected by the 50 EMA (PHX62 Trading)

1.) TDI Cross (good angle)
2.) Below EMA200 and EMA100 and 50
3.) Good News for USD..
4.) TP next Pivot, but i will leave maybe earlier.. todays aim 25Pips
Attached Image (click to enlarge)
Click to Enlarge Name: Chart.jpg Size: 178 KB
  • #6,295
  • Edited 8:52am Mar 7, 2012 8:38am | Edited 8:52am
Quoting nonfiction
Here is my short position on AUDCAD. I have opened my position a bit earlier than I usually do.

Reason for gong short:

1) TDI has just Cross
2) Bounce of the 60 EMA
3) Below 200 EMA
4) Second bounce of the 1.058
5) TDI and TSL is 32 and above 50 so there is plenty of space to for a downward move.

Profit target around +30pips (2x15pip sl) during the NY session.


IMHO, looks like a good long entry to me. I guess, different opinions make the world go round.
  • #6,296
  • Edited 8:50am Mar 7, 2012 8:40am | Edited 8:50am
Quoting Liberum
Already short from this morning @ 1.3145. TP 1 is 1.3100
TP 1 hit, SL moved to +15 for the remaining half of the trade

Although 1.3100 is a tough nut to crack TP2 is S1 @ 1.3070
  • #6,297
  • Mar 7, 2012 8:51am Mar 7, 2012 8:51am
Closed EUR/USD 5Min Trade, when TDI struggled due to the resistance (two bottoms yesterday!).. +21 Pips..

waiting/looking for a bounce of TDI and a break of that resistance, which would result in a further move down
  • #6,298
  • Mar 7, 2012 8:55am Mar 7, 2012 8:55am
Yeah that's the beauty of trading. For me to consider a long price action has to be between 50EMA and 200EMA and when 50EMA is below 200.

So if price break 50EMA but is below 200EMA. A bigger trend reversal is in the making.

Quoting kokopelli
IMHO, looks like a good long entry to me. I guess, different opinions make the world go round.
  • #6,299
  • Mar 7, 2012 9:03am Mar 7, 2012 9:03am
Quoting nonfiction
Yeah that's the beauty of trading. For me to consider a long price action has to be between 50EMA and 200EMA and when 50EMA is below 200.

So if price break 50EMA but is below 200EMA. A bigger trend reversal is in the making.
Initially, you thought I saw you typed E/U in you post - I thought you meant A/U so I based my call on that. Then I realized you meant A/C. My long decision for A/U is still valid for A/C.

However, looks like A/U is having a much nicer upturn than A/C - via 15min chart.
  • #6,300
  • Mar 7, 2012 9:27am Mar 7, 2012 9:27am
Symbol: AUDCAD

+15: Closed 50% of position, Moved SL to +3
TP: +30.

Sitting on +16pips.
Attached Image
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