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Attachments: Buy sell line trading
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Buy sell line trading

  • #201
  • Mar 7, 2012 11:35am Mar 7, 2012 11:35am
Quoting Seabreeze
USD/CAD 1 hour could be woth keeping your eye on
just having a look at it now. Seems price to the left is a bit choppy, its basically in a range atm. and is reaching the previous swing highs. Are you thinking of going long if a signal appears off the 1hr ?
  • #202
  • Mar 7, 2012 11:46am Mar 7, 2012 11:46am
Quoting dan89
just having a look at it now. Seems price to the left is a bit choppy, its basically in a range atm. and is reaching the previous swing highs. Are you thinking of going long if a signal appears off the 1hr ?
Im thinking in the next couple of hours we could see a sell signal..The price has tested or got very close to reistance several times today and could be the break on the trend up and the bears could be starting to take charge if we get a break and close of candle across the pivote. Just worth keeping an eye on..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #203
  • Mar 7, 2012 1:25pm Mar 7, 2012 1:25pm
New Steven Primo webinar that goes over the basic principles of the buy sell line and the engulfing pattern

http://www.fxstreet.com/webinars/ses...2-66285277a886
tradewith60
  • #204
  • Mar 7, 2012 1:28pm Mar 7, 2012 1:28pm
Quoting 60minuteman
New Steven Primo webinar that goes over the basic principles of the buy sell line and the engulfing pattern

http://www.fxstreet.com/webinars/ses...2-66285277a886
Thanks for that I will have a look at this tomorrow Time for my sleep soon..

Happy trading everyone
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #205
  • Mar 7, 2012 1:48pm Mar 7, 2012 1:48pm
U/C exit BE
E/U +18 pips
  • #206
  • Mar 7, 2012 1:57pm Mar 7, 2012 1:57pm
Quoting renos
U/C exit BE
E/U +18 pips
nice steady pipping Renos... tricky day today too with a lot of consolidation and retrace.... news will move it tomorrow though for sure!!!
tradewith60
  • #207
  • Mar 7, 2012 2:32pm Mar 7, 2012 2:32pm
Quoting renos
U/C exit BE
E/U +18 pips
Nice going renos...Not bad pips for the time of day..Keep up the good work.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #208
  • Mar 7, 2012 2:41pm Mar 7, 2012 2:41pm
Thanks, so far it looks good, I'll see what next days will bring. I'll be very careful at the end of this week.
  • #209
  • Mar 7, 2012 2:57pm Mar 7, 2012 2:57pm
Quoting 60minuteman
New Steven Primo webinar that goes over the basic principles of the buy sell line and the engulfing pattern

http://www.fxstreet.com/webinars/ses...2-66285277a886
Thanks minuteman,
I miss this one . Thanks for keeping up updated.
  • #210
  • Mar 7, 2012 4:13pm Mar 7, 2012 4:13pm
Here's an engulfing +2 (EURUSD 1hr) as in Primo's webinar. Let's see what happens...

http://i39.tinypic.com/4jkd9z.gif
  • #211
  • Mar 7, 2012 4:18pm Mar 7, 2012 4:18pm
Quoting chamane
Here's an engulfing +2 (EURUSD 1hr) as in Primo's webinar. Let's see what happens...

http://i39.tinypic.com/4jkd9z.gif


Don't forget to check the other edges/rules on post 1 chamane....
tradewith60
  • #212
  • Mar 7, 2012 4:37pm Mar 7, 2012 4:37pm
Did you get inspired by Steve Primo by any chance?
  • #213
  • Mar 7, 2012 4:39pm Mar 7, 2012 4:39pm
Quoting chamane
Here's an engulfing +2 (EURUSD 1hr) as in Primo's webinar. Let's see what happens...

http://i39.tinypic.com/4jkd9z.gif


Couple of pointers-
Don't call attention to the trade until long after it's finished.

If it loses, conjure up reasons you didn't take it:

Try some of these:

Round number in the way
Something about pivots not being right
Something about S/R
Claim the engulfing bar wasn't the right size
No momentum
Time was wrong
Glare on the monitor creating S/R


If it wins, say you took it and made money
  • #214
  • Mar 7, 2012 4:50pm Mar 7, 2012 4:50pm
Quoting misterboy
Did you get inspired by Steve Primo by any chance?
well spotted... amongst others yes...
tradewith60
  • #215
  • Mar 7, 2012 5:22pm Mar 7, 2012 5:22pm
hi all, hope somebody guide me whether the trade below is correct.
short GU 1H. the low of the short candle is 1.5730, my spread is 3 pips, hence i should sell stop at 1.5726 (1 pip + spread); while high is 1.5743, hence my stop loss at 1.5744? and Target at 1.5708 (18pips with RR 1:1).
am i right?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 25 KB
patient....
  • #216
  • Mar 7, 2012 5:28pm Mar 7, 2012 5:28pm
Quoting johntan
hi all, hope somebody guide me whether the trade below is correct.
short GU 1H. the low of the short candle is 1.5730, my spread is 3 pips, hence i should sell stop at 1.5726 (1 pip + spread); while high is 1.5743, hence my stop loss at 1.5744? and Target at 1.5708 (18pips with RR 1:1).
am i right?
Hi Johntan thats all spot on... I would say its a bad time to be trading GU H1, very slow around now... the engulfing candle was 11 pips
tradewith60
  • #217
  • Mar 7, 2012 5:36pm Mar 7, 2012 5:36pm
Quoting 60minuteman
Hi Johntan thats all spot on... I would say its a bad time to be trading GU H1, very slow around now... the engulfing candle was 11 pips
thanks for 60minuteman comment.
so, there TP & SL that i mentioned above were right if the trade is valid.
would like to clarify abt the momentum that trigger the trade.
is the spreads of the engulfing candle as a trigger to a momentum?

thanks.
patient....
  • #218
  • Mar 7, 2012 6:47pm Mar 7, 2012 6:47pm
is the signal remain valid if the candle after the signal candle touch the stop loss point before trigger the long/short 1pip+spread from high/low?
patient....
  • #219
  • Mar 7, 2012 7:55pm Mar 7, 2012 7:55pm
on H1 AJ, there was a buy call signal on previous candle.
signal candle: high 85.84;low 85.57.
spread 10pips.
buy trigger: Long 85.95 (1 pip + 10pips spread)
stop loss: 85.56 (1 pip) or 85.46 (1 pip + 10 pips spread), which one is correct?
target: 86.34 for (1 pip SL) or 86.44 (1 + 10 SL)?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 38 KB
patient....
  • #220
  • Mar 7, 2012 8:23pm Mar 7, 2012 8:23pm
Quoting billbss
Couple of pointers-
Don't call attention to the trade until long after it's finished.

If it loses, conjure up reasons you didn't take it:

Try some of these:

Round number in the way
Something about pivots not being right
Something about S/R
Claim the engulfing bar wasn't the right size
No momentum
Time was wrong
Glare on the monitor creating S/R


If it wins, say you took it and made money
You are right, there might be many reasons why the trade got stopped out. But to me, it must not be too complicated, otherwise I will be looking for another system. I already have a couple, but this one based on price action looks interesting to me. I supposed the setting was too close to the 50 sma and momentum was turning long. Using another indicator like MACD might help to filter out bad trades.
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