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  • #14,801
  • Mar 21, 2012 8:27am Mar 21, 2012 8:27am
I think I see what your saying Joffie, I believe the large red bar i pointed to in this pic illustrates what your saying... Basically it acted as s/r itself so when it broke to either side (the bottom in this case) it took off, at least somewhat, in that direction...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1 03.21.12.gif Size: 25 KB
  • #14,802
  • Mar 21, 2012 8:35am Mar 21, 2012 8:35am
Here is a chart of the daily gbpusd, do you see here how even though resistance was at previous candles highs, we also have a open and middle R1 and R2 levels acted as resistance on 2 bearish candles.

joffie
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd daily.gif Size: 29 KB
  • #14,803
  • Mar 21, 2012 8:49am Mar 21, 2012 8:49am
Quoting joffie
Here is a chart of the daily gbpusd, do you see here how even though resistance was at previous candles highs, we also have a open and middle R1 and R2 levels acted as resistance on 2 bearish candles.

joffie
This is a cool set up. Once the range is broken through up or down boundaries, leg2 will be equal to leg1.
  • #14,804
  • Edited 9:13am Mar 21, 2012 9:11am | Edited 9:13am
Here is the audusd where I found my resistance for the sell I took. Once again see how the bearish candles found R1 at the middle as well as a support which had been broken and tested from below.

You see as good as this method is, and it is very good, you also need to add into your trading price action.

joffie

On the chart I wrote support meant to say resistance
Attached Image (click to enlarge)
Click to Enlarge Name: audusd daily.gif Size: 32 KB
  • #14,805
  • Mar 22, 2012 2:58am Mar 22, 2012 2:58am
While we're on the subject, is there a pivot point indi that anyone can recommend/upload?
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,806
  • Mar 22, 2012 3:10am Mar 22, 2012 3:10am
P.S Just took a very quick 15 pips of the E/U. Probably should have stayed for longer, but the London opening can be a whipping spot to be in!
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,807
  • Mar 22, 2012 3:55am Mar 22, 2012 3:55am
I missed this entry while coming to work, a very good sell if using 1hr for a entry. This is based using candlesticks, as before see the bear candle open R2 acting as resistance, then moving to the 1hr a perfected sell of this level.

More and more I am begining to like this method for a entry, when confirming with price.

joffir
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 28 KB
Click to Enlarge Name: eurusd 1hr.gif Size: 28 KB
  • #14,808
  • Mar 22, 2012 4:23am Mar 22, 2012 4:23am
Quoting joffie
I missed this entry while coming to work, a very good sell if using 1hr for a entry. This is based using candlesticks, as before see the bear candle open R2 acting as resistance, then moving to the 1hr a perfected sell of this level.

More and more I am begining to like this method for a entry, when confirming with price.

joffir

What pairs are you trading, your charts dont specify.

BTW, Hope you guys cought the bounce trade of the GBPUSD today on 4HR
  • #14,809
  • Mar 22, 2012 4:43am Mar 22, 2012 4:43am
wOw what big moves, cant wait to jump in at the opening of the next candle. This looks like a good bounce trade. Got to wait another 2 hours before my candle closes.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 67 KB
  • #14,810
  • Mar 22, 2012 4:48am Mar 22, 2012 4:48am
Quoting only20gp
What pairs are you trading, your charts dont specify.

BTW, Hope you guys cought the bounce trade of the GBPUSD today on 4HR
Hi 0nly20gp,

this was a eurusd chart, I am also in the sell gbpusd already, and buy on the usdchf. using the same approacof candles.

joffie
  • #14,811
  • Mar 22, 2012 6:41am Mar 22, 2012 6:41am
can't find an alert, audible or email when green crosses red- would be great as I can't wait by computer all day unfortunately.
  • #14,812
  • Mar 22, 2012 6:54am Mar 22, 2012 6:54am
Quoting huw123
can't find an alert, audible or email when green crosses red- would be great as I can't wait by computer all day unfortunately.
This one does all 3 and draws an arrow over the cross candle, enjoy...
Attached File(s)
File Type: ex4 TMS-Osc Cross.ex4   8 KB | 518 downloads
  • #14,813
  • Mar 22, 2012 7:56am Mar 22, 2012 7:56am
that is awesome- many many thanks
  • #14,814
  • Mar 22, 2012 8:06am Mar 22, 2012 8:06am
Quoting huw123
can't find an alert, audible or email when green crosses red- would be great as I can't wait by computer all day unfortunately.
you dont have to look at it all day. you have to look at it once every 4 hours for 2 minutes to see setups.
  • #14,815
  • Mar 22, 2012 8:12am Mar 22, 2012 8:12am
Anyone else in on the USD/JPY cross? Good cross on the TDI and off the back of a positive news release on the USD.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 18 KB
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,816
  • Mar 22, 2012 8:46am Mar 22, 2012 8:46am
I think it's safe to say I shall be getting out of this as a loser. Any ideas what went wrong? There were several pairs that made a very strong crossover on the H1 chart and they all reversed almost immediately.

Comments are always appreicated!
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,817
  • Mar 22, 2012 9:02am Mar 22, 2012 9:02am
Quoting By_Tor2114
I think it's safe to say I shall be getting out of this as a loser. Any ideas what went wrong? There were several pairs that made a very strong crossover on the H1 chart and they all reversed almost immediately.

Comments are always appreicated!

If you are trading near news release, high probability of loss. There is no such system withstanding fundamental news.

breeze
  • #14,818
  • Mar 22, 2012 9:03am Mar 22, 2012 9:03am
Quoting By_Tor2114
I think it's safe to say I shall be getting out of this as a loser. Any ideas what went wrong? There were several pairs that made a very strong crossover on the H1 chart and they all reversed almost immediately.

Comments are always appreicated!
Getting out of what? Charts?
  • #14,819
  • Mar 22, 2012 9:09am Mar 22, 2012 9:09am
Quoting By_Tor2114
Anyone else in on the USD/JPY cross? Good cross on the TDI and off the back of a positive news release on the USD.
Alot of downward pressure on higher timeframes, i stayed out. Besides, I only trade 4HR. there were good setups on 4HR.

Perfect bounce trade off the Audusd and Eurjpy, Quick pips guaranteed.

Now currently on short GBPusd with TP25 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUD1.PNG Size: 60 KB
Click to Enlarge Name: EUROPJY.PNG Size: 63 KB
  • #14,820
  • Mar 22, 2012 9:30am Mar 22, 2012 9:30am
Quoting By_Tor2114
Anyone else in on the USD/JPY cross? Good cross on the TDI and off the back of a positive news release on the USD.
I took the same trade. Because I was in on TWO trades yesterday that would've skyrocketed but I got faked out because I wasn't willing to take a small pullback, I think I got too trigger happy. I think FXBrEEZE is right, we should've let the dust settle on the USD Jobs report for at least an hour, but I can't blaime ya man I saw that huge cross candle and my eyes went green too lol... Oh well, it cost me about 20 pips, still cheaper than going to college for some desk job education I suppose. (Even though I DID do all that but didn't like selling people dreams)

It's getting on to about 10:30 now and I was hoping E/U was going to have something in store for us but I think it'll just fizzle out now. Seems all the liquidity leaves once London closes shop... Hopefully tomorrow we'll see some good opportunities, even today possibly but i dono now...
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