Symphonie Trader System

Nah, I didn't get sucked into anything. It was all on the daily, which was sort of risky, but the Stoch told me to get out and I did. I have 4 pairs on my charts. EU, AU, UJ, and EJ. I only trade EU and AU. The Japanese pairs are there for sentimental reasons. I don't trade them I just watch them. Sound kinky? Plus the AU was nearing support2 so I elected to say goodbye. Picked up some good money on the way down. RJ, I'm an American. I've got a lot of friends in New Zealand. If you ever find your way to Tokyo, give me a shout. I owe you at least a beer.

Well...given that you are new to trading, I gave you my best advice with god intentions. It's up to you if you take it or not.....

Nice.....well done

Sounds like a plan....thank you

I am not new to trading, I am new to this system so I need to understand fully and not blindly trade with the system.

As I have talked about since Feb 2012 when I first made my case for the Expanding Triangle theory has so far been proven to be accurate. That only reineforcements my case that now I believe the EURUSD is finally entering the last stages of the touchpoint 4 (or D) of the 5 point touch pattern that is most common with expanding triangles before the major trending patterns of the markt resume.

As one can see from the screenshot the price action on 7 Mai opened with a gap down open of 70 plus pips. This gap as of today has not been filled and still remains as a void in the EURUSD markt. Gap openings normally close within the first hours of a market open but it is not uncommon for large gaps to remain open for a period of up to 3 weeks. In normal markt conditions these close fairly quickly but nothing in the markt place of today is normal with the USA Central Bank printing itself into HyperInflation and the ECB destine to destroy itself by allowing Greece to take Europe Hostage and European spineless politicians only interested in politics and not solving the real underlying problems that is the EuroZone.

You also have almost every Central Bank willing to commit suicide in effort to stablize their currencies though manipulations that history shows one this does not work and in the end only causes a worse problem than if it was left the free markt to work it out as it can only do.

That being said.....

We see from the the screenshot that according to the expanding triangle theory the price action of the EURUSD has reached the 1.26500 level that also happens to be the height of the head and shoulder of the head and shoulders pattern that has formed since January 2012. (coinsidence??)
With Head and Shoulders patterns here is a tried and true that a techical geek (like myself) can always be assured of. If you have a Head and Shoulders pattern and it is confirmed the min range one can expect from the break of the neckline will be the same distance as from the top of the Head to the Neckline. That in this case is 410 pips. Therefore, as of today, I closed my sell order from 1.33400 and booked the 660 pips profit.

I am not looking for a downtrendline break and a Symphonie Buy Signal to get me in the next leg of the Expanding triangle which will rally the Euro from this low to the unbelievable high of 1.38054!

From a Technical Analysis point of view the EURUSD is very oversold and has been for the past week and continues to point down. Technically speaking the longer the price action remains in only one direction the more chance of a stronger reversal pattern because the more one stretches the rubberband the harder it will rebound once released. That and if you combine Friday's FACEBOOK IPO offering and the possible new stimulus package that may come from the USA Central bank you have all the components necessary for a hard rally in the EURO which will benefit from the excitement about FACEBOOK and the willinginess by the USA central bank to turn on the printing presses.

So, for the moment....I am trading in my Bear Suit for a Bull Suit and looking for the rest of May to be a bullish month as the markt speculates on wild rumors and says the worst is over only to be crushed in June when it all comes appart.

P.S. For more information on my Expanding Triangle....feel free to review my posts #12232, #12040, #11989, #11461, #11451, #11381, #11131, #10761, #10453, #10174 that ties to the original post #7158.

Evaluator.:nerd:

But you don't want to listen to any advice.......suit yourself........

Dyekid,

To answer your question clearly the correct answer is yes and no.

Yes the dollar before the IPO will become stronger as Hedgefunds and investors sell off investments to raise capital to buy the IPO stock of FACEBOOK on Friday....then the Dollar will crash on Friday as people re flood the market with USD as then sell of their USD for shares of FACEBOOK stock.

So it becomes a question of supply and demand... Before the IPO people will demand USD to raise the funds necessary to buy the FACEBOOK stock and inturn the USD will become stronger. Then once the IPO happens people will have no demand for USD as they buy shares in FACEBOOK.

I image Friday will be a very big day for the markts because this FACEBOOK IPO is HUGE!!!! We are talking about an estimated 15 billion dollars in one day on one company.....

Since the creation of the EURO the EURUSD has had an inverse relationship with the USA StockMarkt and Gold. As USA markts rise then the EURUSD becomes stronger and GOLD rises in value. As the USA markts drop then the EURUSD become weaker. Why? For the same reasons as the FACEBOOK IPO. As people pull their money out of the markt there is more demand for USD (supply decreases) as people put their money in the markt there is less demand for USD (supply increases) therefore the value of the dollar rises and drops based on demand and supply.

Will this always be the case?? No. At some points there is decoupling of the inverse relationship although they have been minor so far. One day however, if the USA Central Bank does not stop the massive printing process and the USA Government does not get its debt undercontrol there will be a massive decoupling that will make Greece seem like a grain of salt versus the massive collapse of worlds major economy.

Evaluator.:nerd:

yes all taken on the 1hr.. I use 4hr and daily for direction

I think it has got some more room to go downwards. The pink line is from the weekly.

You have nice head and shoulders formation there so your second target has high probability to get hit!

hello master.
Great to chat with u......thanz. hope one day we can work together...
u can try snake indicator....it very powerful, u can know when to enter/exit...depend on FT u used.....thanz.

Immvp,

Signal to Signal is exactly what is says it is...you enter on one signal buy and you close your buy on sell signal and open a sell the close sell on buy signal and open buy.....its ''Signal to Signal''...therefore the trading style name.

Evaluator.:nerd:

Well, maybe more than one

has anyone found a version of symphony where the sentiment doesn't repaint?? had a day that ate into most of my profits from yesterday.. Everyone looked like a perfect sell on EJ but 4 hours later all the sentiments repainted to blue

Where did you go in?

Right here

Really tired of giving back all the profits I earn and hovering around BE -_-.. 8 months of trading and only 100 bucks to show for it

Reasons for me not shorting EJ on the re-entry and to be looking for buys. Price had tried and failed to close below the low printed earlier on, the first ATR line had been reached and more importantly bullish divergence.

ah see for one reason or another its always small things that I just don't seem to catch.. I'm starting to get really tired of trading

I just dont seem to catch divergence unless stochastics are actually crossed.. which is why it looked like normal divergence from the day before

If you don't mind me saying so, I looked back at some of your trades in myfxbook and although some were good trades there was quite a few of them that I wondered why you had gone in where you did.

If I could suggest you write down your rules and stick them above your computer, don't get disheartened you are more than capable of doing this.

These are my rules (don't know if they'll help or hinder but here goes)

I prefer fresh signals on H1, I have always said the same and I try to stay in as long as possible, if its a re-entry I look very carefully around to see if I can see why the trend should carry on, that means looking for all sorts of things, so why not try just trading fresh signals only for a while and see how you get on. I have the 50 EMA on my chart and don't like to trade too close into that as it bounces from it quite often, other than that I take fresh signals.