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Quoting firsttimer
[IMG]http://s7.postimage.org/les0qlg5z/setup2.jpg[/IMG]

Entered a few trades on sell and buy stops while i was sleeping just now. Most of them in positive pips.

Some indecision again on all the currencies again. Reversing 10 pips all so on each of them while im typing this post.
hi firsttimer, would really appreciate it if u could attached a bigger picture, thanks...

what made you decide to go short on EU?
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
The low (eur) from 4 Oct '11 could be a problem. If the bounce from there is small giving another lower high then we should be headed lower again? We'll see.
Quoting Vantage
The low (eur) from 4 Oct '11 could be a problem. If the bounce from there is small giving another lower high then we should be headed lower again? We'll see.
hi vantage, thank you for pointing that out...if what you say would happen, where would you set your TP and how many pips bounce would be small for you? thanks
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting Awin
hi vantage, thank you for pointing that out...if what you say would happen, where would you set your TP and how many pips bounce would be small for you? thanks

Mrs V and I are the worst people to ask about TP's as we are scalpers. I'm sure that a TP around a pivot or psych level close to 5 day ATR would be appropriate. If not reached look at pa close to London close as bounces often occur then.

Anything below the last high 3177.
Quoting Vantage
Mrs V and I are the worst people to ask about TP's as we are scalpers. I'm sure that a TP around a pivot or psych level close to 5 day ATR would be appropriate. If not reached look at pa close to London close as bounces often occur then.

Anything below the last high 3177.
having your "better half" to trade with you side by side is great! i still believe that two or more heads is definitely better than one, and in trading, the more support you get the better i guess...

thanks for the advice, btw, you said your scalpers, how come you look at the dailies? i am currently considering scalping in my other account, so any input why you look at the dailies on your scalping will be greatly appreciated...
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting Awin
hi firsttimer, would really appreciate it if u could attached a bigger picture, thanks...

what made you decide to go short on EU?
http://s7.postimage.org/les0qlg5z/setup2.jpg

Cross of TDI. Cross below 5ma as well.
High of 1.38160 unable to break. (resistance over several candles)

Low of 1.31590 broken. (support over several candles)
Quoting firsttimer
http://s7.postimage.org/les0qlg5z/setup2.jpg

Cross of TDI. Cross below 5ma as well.
High of 1.38160 unable to break. (resistance over several candles)

Low of 1.31590 broken. (support over several candles)
we have almost the same reasons for a short trade except for the 5ema...are you using the 5ema for a crossover system or something else?

btw, your picture is still a bit of a challenge to see, but thank you for your reply...

tdi is hooking as i type this, are you getting out soon or you'll play this to the end?...for me i think i'll play this to the end...
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting Awin
we have almost the same reasons for a short trade except for the 5ema...are you using the 5ema for a crossover system or something else?

btw, your picture is still a bit of a challenge to see, but thank you for your reply...

tdi is hooking as i type this, are you getting out soon or you'll play this to the end?...for me i think i'll play this to the end...
http://imageupload.org/en/file/203409/setup2.gif.html

im playing this to the end i guess. 5ema cross is part of my trading method. anything below that gives a higher success rate of shorting.
I apologize for the blur picture.
I tried attaching the link here.
Quoting Awin
having your "better half" to trade with you side by side is great! i still believe that two or more heads is definitely better than one, and in trading, the more support you get the better i guess...

thanks for the advice, btw, you said your scalpers, how come you look at the dailies? i am currently considering scalping in my other account, so any input why you look at the dailies on your scalping will be greatly appreciated...
Although we are scalpers it still doesn't mean we trade everything in sight. Getting older we have cut down from 10 or more trades a day to sometimes 1 but more likely a couple pd.


Looking at D increases your odds, we just ask a few simple questions in trying to assess where we are:

  1. Are we trending or sideways junk.
  2. Is the D itself on a higher low or lower high eg if you have 1st D lower high in a move, the day following the lower high close would only be looking to sell.
  3. Are we above/below 50 level on TDI/RSI, has D TDI/RSI crossed?
  4. Where are proven SR levels?
  5. Is the move down slowing ie has each D range shortened suggesting a poss counter trend move.
  6. How do the candles look, if you had say a good upper close did it follow through. If not move perhaps running out of steam.
  7. Has D closed beyond recent range (good tip for 1 hr also) with an engulfing type candle, if yes good chance of continuation.
  8. 3 legs up/down then pause perhaps?
  9. Is there a long term TL/channel/fib we need to consider.
  10. If CT move can you see bigger pic why market should turn (trying to think like big dogs here) if not we avoid (possibly) CT moves and will wait for TDI/RSI to cross move across 50 line.
  11. Has fundamental news changed?
  12. Has COT changed?

All just basic stuff at start of day. When we are sure of trend eg lower high on D in downtrend we would be sellers only the next day. Then its just a matter of waiting until 1hr candle sets up.

If we have positive close in downtrend then the next day could be poss buys or sells, we'd still accept that buys would be counter trend.

There might be other stuff this was just quickly off the top of my head.

Quoting emmanuel7788
Hi,
After last Friday' surprise bullish rally, what looks like is a new channel has been establish for downflow.
However, if price break above this new channel, it will test the previous week 10 high.
But this week's pivot 1.3136 may play as support until I see a convincing break below.

Good Trading!
Hi emmanuel, i re-read your post and in your attached picture there is a cloud that says, look for H4 confirmation...there was a good looking cross on the TDI on H4 during the time i entered the trade...

in my attached picture, the angle of the green TDI was on a better slope downwards when the hour's candle opened, which helped me confirm my entry...

what sort of confirmation were you looking for in H4 tf? can you pls expound further, thanks...
Attached Image (click to enlarge)
Click to Enlarge Name: H4 EU March 19.png Size: 27 KB
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting Vantage
Although we are scalpers it still doesn't mean we trade everything in sight. Getting older we have cut down from 10 or more trades a day to sometimes 1 but more likely a couple pd.


Looking at D increases your odds, we just ask a few simple questions in trying to assess where we are:[list][*]Are we trending or sideways junk.[*]Is the D itself on a higher low or lower high eg if you have 1st D lower high in a move, the day following the lower high close would only be looking to sell.[*]Are we above/below 50 level on TDI/RSI, has D TDI/RSI crossed?[*]Where...
thank you, for a quick reply, it was quite comprehensive...

are you really using COT as an analysis tool? because, isn't COT data published is way too late to show proper data for the day's trade?

very insightful sir....
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting Awin
thank you, for a quick reply, it was quite comprehensive...

are you really using COT as an analysis tool? because, isn't COT data published is way too late to show proper data for the day's trade?

very insightful sir....
Moves can last easily for weeks-months so a few days here and there is nothing. The big boys lobbied hard to stop COT data from being released publicly, there has to be a reason for that.

Could you do without it, of course, but it can help to focus on trend.
Quoting Vantage
Moves can last easily for weeks-months so a few days here and there is nothing. The big boys lobbied hard to stop COT data from being released publicly, there has to be a reason for that.

Could you do without it, of course, but it can help to focus on trend.
I actually use it myself a couple of times and it does aid one, but because of the very late date of data it has, i guess it was the compromise made by the big boys with feds that still can tilt things to their advantage...publish the COT but withhold back data a few days. in that way, the feds did their job in publishing the COT but still gave in to the big boys favor...

Anyway, this is the current deadlock that we have in our hands right now...the TDI can either bounce down or cross to the upside....

will this be a range? your opinion will be highly valued sir, thanks...
Attached Image (click to enlarge)
Click to Enlarge Name: H1.png Size: 36 KB
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting firsttimer
[IMG]http://s7.postimage.org/les0qlg5z/setup2.jpg[/IMG]

Entered a few trades on sell and buy stops while i was sleeping just now. Most of them in positive pips.

Some indecision again on all the currencies again. Reversing 10 pips all so on each of them while im typing this post.
Hi firsttimer,

your attached charts are very small scale and really hard to make out the details.

Maybe you cuse the screenshot script on post #36 and save yoyur charts in your mt4 expert/file...folder then download them to FF.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Awin
Hi emmanuel, i re-read your post and in your attached picture there is a cloud that says, look for H4 confirmation...there was a good looking cross on the TDI on H4 during the time i entered the trade...

in my attached picture, the angle of the green TDI was on a better slope downwards when the hour's candle opened, which helped me confirm my entry...

what sort of confirmation were you looking for in H4 tf? can you pls expound further, thanks...
well, I prefer to wait for the current H4 candle to close and confirm if the TDI cross, also PA must show bearish momentum to go short.
I rather wait till PA goes below the WP.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Awin
I actually use it myself a couple of times and it does aid one, but because of the very late date of data it has, i guess it was the compromise made by the big boys with feds that still can tilt things to their advantage...publish the COT but withhold back data a few days. in that way, the feds did their job in publishing the COT but still gave in to the big boys favor...

Anyway, this is the current deadlock that we have in our hands right now...the TDI can either bounce down or cross to the upside....

will this be a range? your opinion will...
A tough one, D had crossed up and has broken TL which suggests up. Retraced up to 38% fib and stopped.

Against that we haven't been able to trade above Fri's high. We are still below key D ma's.

So it can go either way, I'll be looking for a solid 1hr close that breaks immediate range whether thats up or down and look to enter from smaller TF's.
Quoting emmanuel7788
well, I prefer to wait for the current H4 candle to close and confirm if the TDI cross, also PA must show bearish momentum to go short.
I rather wait till PA goes below the WP.
i was actually contemplating on that idea to wait for PA to cross the WP earlier on before i was about to take the short trade, but since i saw there was a good angle of TDI cross downward on H4, i thought that if i wait for the cross on WP i might be too late in entry and waste some of the pips going down, because it happened to me a lot before where i waited too long and when i entered it was just a few pips to gain and started to reverse, especially today is a monday and volatility is down... so, when i saw that the angle of TDI cross down was good, i entered....

you think this will be a range? or maybe a bit later in the session something will give in....somehow nothing from news that will create some good moves today....so basically, my decision to enter the short trade was mainly because of TDI crossess on H1 and H4, using S3 system...
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting Vantage
A tough one, D had crossed up and has broken TL which suggests up. Retraced up to 38% fib and stopped.

Against that we haven't been able to trade above Fri's high. We are still below key D ma's.

So it can go either way, I'll be looking for a solid 1hr close that breaks immediate range whether thats up or down and look to enter from smaller TF's.
lower tf? are you scalping in 1M tf ? are you using good systems for scalping like THV in 1M? or is it just your pure solid trading experience you use to scalp on what tf?
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Head & Shoulders developed in UJ H1...waiting for a re-trace to neckline then SHORT...

confluence with TDI also....
Attached Image (click to enlarge)
Click to Enlarge Name: H&S UJ H1.png Size: 24 KB
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting Awin
lower tf? are you scalping in 1M tf ? are you using good systems for scalping like THV in 1M? or is it just your pure solid trading experience you use to scalp on what tf?
I look for solid 1hr set ups and then enter exactly as per my thread off 5 min hl/lh's.
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