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Another simple system - Time-Frame 15

  • #2,921
  • Edited 10:11am Jun 11, 2012 10:00am | Edited 10:11am
Hi all,

as at now, I think the weekends GAP is now closed. In searching for answer about gap, i found this interesting statement which need you views and comments.


"When a forex gap closes, it simply means that the price goes back to the level it was before the gap. One possible reason for a closure will be that the gap may have happened because of a knee jerk reaction to an event.
"

The News was this ?

"The news that EU assistance to the Spanish banking sector in the amount of Eur100B has well exceeded estimates of most analysts, while Chinese data was not as bad as many had feared. Both of these developments have resulted in a market rally driven


Maybe senior trader would like to share experience & views.


Thank You


Gibril
  • #2,922
  • Jun 11, 2012 10:07am Jun 11, 2012 10:07am
Just closed my first trade with this system +25, I like it
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD Short.png Size: 36 KB
Click to Enlarge Name: EURUSD Close out.png Size: 60 KB
  • #2,923
  • Jun 11, 2012 10:12am Jun 11, 2012 10:12am
Quoting xiaoxin
Gibril,
The final 10% of the time of a bull run will usually encompass 50% or more of the price movement. Thus, the first 50% of the price movement will take 90% of the time and will require the most backing and filling and will be far more difficult to trade than the last 50%.
-- The market will kick out the weak holders. That's why we say patience pays, I think


[font=Book Antiqua][size=3]does that mean, if you're late riding a trend, it's ok ? because there's plentyful pips...
Thank you, i keep that in mind.

Gibril
  • #2,924
  • Jun 11, 2012 10:15am Jun 11, 2012 10:15am
Gibril,

maybe this will help!

http://www.investopedia.com/articles...#axzz1xSzfA186
Enjoy!
  • #2,925
  • Jun 11, 2012 10:28am Jun 11, 2012 10:28am
There was no gap from the weekend. Whoever your broker is just disconnects from the market feed on Friday and then reconnects on Sunday. You really need to be careful of this. Im very new at this but that is a sign that you need to do more work!

Just my opinion

Shawn

Quoting Gibril
Hi all,

as at now, I think the weekends GAP is now closed. In searching for answer about gap, i found this interesting statement which need you views and comments.


"When a forex gap closes, it simply means that the price goes back to the level it was before the gap. One possible reason for a closure will be that the gap may have happened because of a knee jerk reaction to an event.
"

The News was this ?

[b][color=red]"The news that EU assistance to the Spanish banking sector in the amount of Eur100B has well...
  • #2,926
  • Jun 11, 2012 10:40am Jun 11, 2012 10:40am
Shawn3245, GAPS everywhere.
Look at your charts with normal candlesticks,please.(don't use Heiken Ashi candles)
EY EU GU AU CHF, gaps are there! True.
Trading the gaps is today's mission.
Did you join us?
  • #2,927
  • Jun 11, 2012 11:07am Jun 11, 2012 11:07am
Thing that we are both right. Im using 15min, 1h and 4 hour candle stick charts so I dont see alot of gaps on those charts. Take it from someone that has been burnt trying to trade those Friday close/Sunday open gaps DONT DO IT!!!! The gap is because the brokers disconnect from the market Friday and reconnect again on Sunday.

Can you post a chart with the gaps that you are talking about. I dont want to assume anything until I see exactly what you are talking about. Look at the charts that Ive posted and you will see that there are no gaps on those.

Ive been here for awhile now. Still learning and trying to help out where I can.

Shawn

Quoting xiaoxin
Shawn3245, GAPS everywhere.
Look at your charts with normal candlesticks,please.(don't use Heiken Ashi candles)
EY EU GU AU CHF, gaps are there! True.
Trading the gaps is today's mission.
Did you join us?
  • #2,928
  • Jun 11, 2012 12:01pm Jun 11, 2012 12:01pm
Quoting shawn3245
There was no gap from the weekend. Whoever your broker is just disconnects from the market feed on Friday and then reconnects on Sunday. You really need to be careful of this. Im very new at this but that is a sign that you need to do more work!

Just my opinion

Shawn

Thank You Shawn for the useful information.

I will keep that in mind not to read unreliable News sources, writting about "Weekend Gap". " Gap filled" etc.

I'm lucky to have you informing me otherwise.

I am Still a Newbie, need to learn a lot more from experience traders like you and few others wonderful people in this Thread.

Thank You Shawn
  • #2,929
  • Jun 11, 2012 12:15pm Jun 11, 2012 12:15pm
Shawn, here are some charts, from Admiral Markets, GAPS here showed clearly.
I trade with IG markets, my broke showed the lowest price of EU was 1.2515 before the gap filled. Right now is 1.2499. Alpari also showed gaps,why not your OANDA? Look to the left of your chart, can't you see the gap? Anyone any ideas?
chart 1 2 3 M15,EU EY GU, and the last one is EU H1
Attached Image


Attached Image


Attached Image


Attached Image

Mid night now, go for a sleep.
C U LO, good piping folks!
  • #2,930
  • Jun 11, 2012 12:22pm Jun 11, 2012 12:22pm
Quoting Gibril
Thank You Shawn for the useful information.

I will keep that in mind not to read unreliable News sources, writting about "Weekend Gap". " Gap filled" etc.

I'm lucky to have you informing me otherwise.

I am Still a Newbie, need to learn a lot more from experience traders like you and few others wonderful people in this Thread.

Thank You Shawn

As said earlier, news publish can be mislead, lucky to have experience traders to inform us. Look at this two sources of information for Newbie like me to read. !

Thanks a lot Shawn.


Gibril The Newbie
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Weekend Gap FX.png Size: 84 KB
Click to Enlarge Name: FX Street Gap.png Size: 76 KB
  • #2,931
  • Jun 11, 2012 12:45pm Jun 11, 2012 12:45pm
look at that....
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 13 KB
Let all the living things live blissfully
  • #2,932
  • Jun 11, 2012 12:51pm Jun 11, 2012 12:51pm
Quoting TheRoper
Just closed my first trade with this system +25, I like it


Good start mate...god bless
Let all the living things live blissfully
  • #2,933
  • Jun 11, 2012 12:59pm Jun 11, 2012 12:59pm
Quoting loveevery1
look at that....
Thanks for the system. It appears to be very similar to Trading Made Simple except it seems to filetr out the fake trades.

Where on the above chart would you have entered using the system?
We're all just one trade away from humility.
  • #2,934
  • Jun 11, 2012 1:12pm Jun 11, 2012 1:12pm
Quoting loveevery1
EU?

weekly chart lets see this week
very interesting.. alert to buy soon..
  • #2,935
  • Jun 11, 2012 1:51pm Jun 11, 2012 1:51pm
Hi,

Can anyone confirm i made the correct trades (its on demo account so dont worry)

GBP/USD M15 (Entry at .98883 short 1 lot - vertical red line was the candle i entered on)


second trade aud/usd (short 1 lot at 1.54960, also at the red vertical line.)


i would appreciate anyones feed back if they see anything wrong with my trade entry. i beleive i followed the rules per LV1's guidlines.

once again thanks for any input!
Attached Images
  • #2,936
  • Jun 11, 2012 5:58pm Jun 11, 2012 5:58pm
Not an expert, but I will give it a try. It would have been better if you had margins labeled.

The first trade - the TDI crossed 2 candles back. Looks like the 32 area.
Trades are not done in the 32 or 68 areas.

Second trade - 200 & 800 EMA on top of each other. Better with at least a 50 pips spread.

Hope this helps.

pipsacker
  • #2,937
  • Edited 8:59pm Jun 11, 2012 8:43pm | Edited 8:59pm
Quoting loveevery1
EU?

weekly chart lets see this week
I attached my chart, couldn't write there coz some problem with Paint. It's simpler to note on chart, rather than to write an essay.

1. Weekly Chart.
PA making lower low, but TDI does not respond to the same strength to the downside. Divergence created on weekly TF.

2. Candle Pattern now developing into Bullish Hook Reversal ( Kind of "V" Shape bottom.)

3. The lowest candle on weekly chart with long bottom shadow equal to body, sign of weakening falling power. (Marubozu ?)


4. The current weekly candle (start yesterday) is testing the Resistence Line 1.268XX ( formerly was supportfor Dec 2011). Usually, it takes two test of the former support line to be valid, but in this case only once ( Dec 2011), then three week ago the support line was breach.


5. The blue candle stick ( lastweek) is "Inside Bar" which indicate time of consolidation, because it had made a big move prior to arriving at the bottom where it was 2 weeks ago.

6. The Mother Bar ( Red) with long bottom shadow formed as a turning point signal with one coiling bar (green).

7. Looking at 240mins TF Chart, we can see , the rising pattern of candle stick which nicely fitted to regression channel drawn.

8. Early today, formation of Hammer candle on 240TF chart. and PA is sitting at bottom of Regression Channel.

9. Taking the last low of 240min TF Candle to yesterday high, we are at 50% fib retracement.

10. on 15M. both 200 & 800EMAs, are coiling down close together, and they will act like rubber band, to be stracth out then come back to close formation.

11. Outlook from Newbie : I'm looking for go LONG entry later today and continue tommorow to test the area of 1.2806. ( around 180 pips from where the current PA now.

Target Price is R2 1.26500 area ( nearing to yesterday high.)

This is a just simple newbie view because I'm trying to learn.
If any of the view is incorrect, I look forward from any other experience traders to comment and correct me.

Thank you for reading.


Gibril THE Newbie

p/s On 60 min TF, Yesterday PA already tested the Key Resistance Area ( Top of Pin Bar on Friday)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 240 weekly.gif Size: 29 KB
Click to Enlarge Name: eu weekly.gif Size: 22 KB
  • #2,938
  • Jun 11, 2012 8:49pm Jun 11, 2012 8:49pm
Quoting Drewas
Thanks for the system. It appears to be very similar to Trading Made Simple except it seems to filetr out the fake trades.

Where on the above chart would you have entered using the system?
i think i have entered take a closer lookat the chart
Let all the living things live blissfully
  • #2,939
  • Jun 11, 2012 9:00pm Jun 11, 2012 9:00pm
Im expecting the EU to go down today,,,,lets seee.
Let all the living things live blissfully
  • #2,940
  • Jun 11, 2012 9:02pm Jun 11, 2012 9:02pm
Quoting Gibril
I attached my chart, couldn't write there coz some problem with Paint. It's simpler to note on chart, rather than to write an essay.

1. Weekly Chart.
PA making lower low, but TDI does not respond to the same strength to the downside. Divergence created on weekly TF.

2. Candle Pattern now developing into Bullish Hook Reversal ( Kind of "V" Shape bottom.)

3. The lowest candle on weekly chart with long bottom shadow equal to body, sign of weakening falling power. (Marubozu ?)


4. The current weekly candle (start yesterday) is testing...
you rock my friend... Your hard work willl pay you as promised you are doing the right thing in this forum...never get tired like other brothers and keep analysing liek this...you are getting all these things inside your brain whre it all came from...lol....I love you
Let all the living things live blissfully
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