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Another simple system - Time-Frame 15

  • #841
  • Apr 14, 2012 6:56am Apr 14, 2012 6:56am
Quoting loveevery1
entry and exit
Hi Lovee1,
That was a great call.
Not sure significance of wick below the PPA.
Hope you will explain a bit more.
Managed to match up open lines by checking your chart p55 # 813. I now have JFTrading times setting: LOn 7:00 and NY 12:00, for my broker time which is GMT.
EP
  • #842
  • Apr 14, 2012 10:12am Apr 14, 2012 10:12am
Quoting loveevery1
remember this?
Hi LE,

Could you please explain more on that ? Not able to make out the significance of the lower wick....

Thanks
  • #843
  • Apr 14, 2012 11:12pm Apr 14, 2012 11:12pm
Quoting gingi
Hi LE,

.... the significance of the lower wick....

Thanks
This is strange.
Just by chance was on another thread and this pattern was described.
"Lower wick", "line below ppa" call it what you like, is more commonly known as a pin bar.
The explanation was that it is Stop hunting before a reversal.
So would really like to know how Lovee1 interpreted it to be a breakout.
EP
  • #844
  • Apr 15, 2012 5:33pm Apr 15, 2012 5:33pm
hey loveevery1!
Have been reading your thread the last day, nice little system you posted here. I appreciate people with good spirit like you! Sharing is caring - that is what i believe and live. Will follow this thread and will try to give humble advice if i can (not trading that long tho!)

London opened and missed that sweet little opportunity while doing painting

http://img7.imagebanana.com/img/k0xdeub5/Capture.PNG

Would you have taken this one? EMA 800 is down there.. in post #1 u mention the indicator but not the function in your first setup you posted here.

Pips and sweet dreams to all the followers and people around!

gn8
STOP?! What are you talking about?! You have to push it a little more!
  • #845
  • Apr 15, 2012 8:53pm Apr 15, 2012 8:53pm
Quoting EaglePip
This is strange.
Just by chance was on another thread and this pattern was described.
"Lower wick", "line below ppa" call it what you like, is more commonly known as a pin bar.
The explanation was that it is Stop hunting before a reversal.
So would really like to know how Lovee1 interpreted it to be a breakout.
EP

Hello Gingi and Ep...since you are asking i will explain it to you.

It was not a PIn Bar.that i pointed out.it was a candle with a lower wick.PIn bar will have a very long wick with a 1/3 of body..i will post a picture of a pin bar later.It was london open.usually there will be a blow after every market open which is well known to everyone.

Either the price is going to go south or north 90% of the times it doesnt range during the LO.so we are looking for north or south.
Now coming to the chart.on thursday..i posted that the price will fall from the 3200 level.so when the market opened on friday,i was looking only for short trade.thats why i dint take the LONG trade and i even warned you guys on friday about the LONG trade.so when i saw the sellers were tryin to reach new lows..i was confident tht the trade will go south.

About the Wick: when i took that screen shot..the sellers were trying take control of the market.they tried to for a NEW LOW.they did succeed taking it to a new low with a good moemtum(speed).Thats what that wick represents.It told me there are sellers waiting which is again confirmed by 3200 level.


According to me the wick formed cause there were few profit taking at that time.People holding Long positions exited to take profit thinking that the price is going to fall.

Always see the BIG picture folks..

To all the newbies: Triple Top/head and shoulders/Pin bar/Hanging man/inverted hammer/pendant and other numerous patterns.

THe above listed patterns form coz buyers want to buy and sellers want to sell.Learn why people are selling or buying at particular level.This is all you need to be successful in forex.the maret movement is natural guys.
Let all the living things live blissfully
  • #846
  • Apr 15, 2012 9:21pm Apr 15, 2012 9:21pm
Quoting fabwa
hey loveevery1!
Have been reading your thread the last day, nice little system you posted here. I appreciate people with good spirit like you! Sharing is caring - that is what i believe and live. Will follow this thread and will try to give humble advice if i can (not trading that long tho!)

London opened and missed that sweet little opportunity while doing painting

http://img7.imagebanana.com/img/k0xdeub5/Capture.PNG

Would you have taken this one? EMA 800 is down there.. in post #1 u mention the indicator but not...
hi i suggest u dont take trade when the price is between 200ema and 800ema unless you have been trading for few years.im preparing those trade setups...but no time.
Let all the living things live blissfully
  • #847
  • Apr 15, 2012 9:24pm Apr 15, 2012 9:24pm
Quoting gingi
Hi LE,

Could you please explain more on that ? Not able to make out the significance of the lower wick....

Thanks
dont trust every lower wick my friend..it is not the same everytime.the price might just reverse.it also depends on how long the wick is.
Let all the living things live blissfully
  • #848
  • Apr 15, 2012 11:57pm Apr 15, 2012 11:57pm
Quoting loveevery1
dont trust every lower wick my friend..it is not the same everytime.the price might just reverse.it also depends on how long the wick is.
Hi Lovee1,
Thanks for the explanation. This is the problem for me deciding in real time if it is a fake, profit taking or stop hunting.
Maybe, as you say, the clue is in the length of the wick.
Thanks again,
EP
  • #849
  • Apr 16, 2012 12:55am Apr 16, 2012 12:55am
Quoting loveevery1
dont trust every lower wick my friend..it is not the same everytime.the price might just reverse.it also depends on how long the wick is.

Lovee. When trading the Hourly charts, do you use the yellow line or entry/exit based on green and red?

Anyone using this method on hourly chart?


Thank you.
  • #850
  • Apr 16, 2012 1:53am Apr 16, 2012 1:53am
Quoting EaglePip
Hi Lovee1,
Thanks for the explanation. This is the problem for me deciding in real time if it is a fake, profit taking or stop hunting.
Maybe, as you say, the clue is in the length of the wick.
Thanks again,
EP
MOst of the people have problems indentifyin the fakeys...mate..everything comes with experience.just dont give up forex just coz you are losing money or making less money.i have loads of things in mind.but i hate posting folks...
Let all the living things live blissfully
  • #851
  • Apr 16, 2012 1:57am Apr 16, 2012 1:57am
Quoting FXSwissTrader
Lovee. When trading the Hourly charts, do you use the yellow line or entry/exit based on green and red?

Anyone using this method on hourly chart?


Thank you.

You can use it...it gives you very very very less fakes but the trade occurs very very very rare...lol.thats the only difference mate.but patience will diffenetly pay....one day.

on the higher time frame i trade Supply and demand and support and resistance..i want to explain lot of things but i hate posting mate..
Let all the living things live blissfully
  • #852
  • Apr 16, 2012 2:05am Apr 16, 2012 2:05am
im expecting a pull back...i dont think i will short...im waiting
Let all the living things live blissfully
  • #853
  • Apr 16, 2012 2:08am Apr 16, 2012 2:08am
29500 is a level to watch for...waiting..
Let all the living things live blissfully
  • #854
  • Apr 16, 2012 2:13am Apr 16, 2012 2:13am
watch this setup for COuntertrend entries..see the pip distance between the price and the EMA..its over 90 pips...its a clue that the price and the emas will come together again...watch for CT entries now..
Let all the living things live blissfully
  • #855
  • Apr 16, 2012 2:22am Apr 16, 2012 2:22am
Quoting loveevery1
29500 is a level to watch for...waiting..
Hello, What pair is that?

Harry
  • #856
  • Apr 16, 2012 2:33am Apr 16, 2012 2:33am
Quoting Harry123
Hello, What pair is that?

Harry
e/u
  • #857
  • Apr 16, 2012 2:38am Apr 16, 2012 2:38am
Quoting Flaviu1981
e/u
Zero momemtum folks....
Let all the living things live blissfully
  • #858
  • Apr 16, 2012 2:43am Apr 16, 2012 2:43am
Quoting loveevery1
Zero momemtum folks....
LE1,

I just took a very brief long on the E/U, but only for a few pips. Got out when I saw that it really wasn't going to break higher. I'm now waiting for a brief spike down before I go long again. How about you?
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #859
  • Apr 16, 2012 2:45am Apr 16, 2012 2:45am
its heading south now...bloody hell
Let all the living things live blissfully
  • #860
  • Apr 16, 2012 2:48am Apr 16, 2012 2:48am
taking a quick short, watch out for that 1.30000 border! Could try pending short below it for 10 pips
STOP?! What are you talking about?! You have to push it a little more!
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