Amyc Trade Journal

Cant see any thing.. Except maby Cable rally into resistance..thou usdx..resistance at 8240 ish.. which is current week..38% 5 week mid..year 50% and fibo 50%.. point.. maby long ish euud..dont know if you are into astrology but have heard from several sources..20/24 time to watch..
Thanks for tip on FTSE

hi Dan

thankyou for the vouch.

I think I have found maybe the best setup for the levels to date thus far, that happens often enough to make it worth while waiting for it to happen and trade with a decent lot size. ( the best by far is the yearly open, then most likely the quarterly open, but these happen only 5 times in the year. ) what happens more often I think is a breakout of the 5 x daily highs followed by a move down into support at the 5 x daily mid. then a trend continuation / or wave pattern occurs. AU had a move into support at its 5 x daily mid at 0.9830 on Friday the 8th of June after it had broken out of the 5 x daily highs. Since then it has also broken through it 3 x monthly mid at 1.0049 on Friday the 15th of June. so far at its current price as of this post AU is at 1.0182. From 0.9830 thats a 362 pip gain from this pattern. ( breakout of 5x daily highs and move down into support at 5 x daily mid, then trend continues. ) the good news is this pattern can also occur on EU + GU. so 1000 pips is a possibility if all goes well when it occurs. each setup is unique though. its well worth waiting and watching out for it though. I need to check out ES sp500 minis as it needs to be occurring on ES/ and USDX at the same time for market timing.

http://my.jetscreenshot.com/11681/m_...1djz-210kb.jpg

the only significant level left to the upside for AU at the moment that I know is the 2nd quarter mid at 1.0446. there is the yearly 50 % and 3 x quarterly mid too, but I have to calculate those. AU may well continue up to try to reach 1.0046 by the end of this quarter June 30th. some short term resistance coming up to at 1.0198, 1.0205 and 1.0219. May see a move back to 5 x daily mid,

http://my.jetscreenshot.com/11681/m_...lqgm-157kb.jpg

currently its at 1.0060 . Another 5 x daily mid will come out tomorrow too.

EU works well with the levels but I think au is the best market to trade, au has been tricky lately but that will change and it will go back to being more predictable.

Just remember, now that you are a full time trader doesn't mean you have to be in a position all the time, no trade is also a position. It took me ages to get good at this, years, but when you sit back and wait for only the best setups you will be far more profitable. At the moment I haven't done a trade since last Wednesday in any market.

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thankyou. you posted this on April the 19th. AU did go back to being more predictable from about the 1.0476 decline. But what really helped so much and has taken me two months to find. I think. sitting back and waiting for the best setups. I think I have found at least 3 of the best set ups as I have outlined in my last post. Now I need some patience to wait for them.

4 hr usdx... 2 pivots at hi.. week and year.. ext 1.38%.. also 50% at hi

usdx above 5 x daily mid

http://my.jetscreenshot.com/11681/m_...uwnb-172kb.jpg

also above weekly mid at 81.78

http://my.jetscreenshot.com/11681/m_...r4ax-128kb.jpg

above daily mid at 82.08 and monthly mid too at 81.65.


5 x 4 hr chart nearest levels, usdx is still above the mid at 82.26 at the moment.

http://my.jetscreenshot.com/11681/m_...dtmc-118kb.jpg

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EUR/USD coming up to its 5 x daily lows. currently below its 5 x daily mid.

http://my.jetscreenshot.com/11681/m_...ujcn-156kb.jpg

yes but it is at weekly 38%.. Yearly50%.. also on 4 hr chart it is at a 50% mark and 2 fibo extentions..also on weekly it is a 50 % a 618% range and a 1.618%.. including the pivots..and i am short the Euro.. and 5 week ppx is also 8240.. were it failed 5 hrs ago

so weeky 38% 8238.. 5 week mid 8240..year 50% resistance 8238..it hasnt gone above this point in the last 18 hrs..also to days daily points..38%..8243.. and50% 8250..

USDX.. 15 min fail once again at 8240 area.. i am long EU 2535

hi Dan

good insight. yearly 50 % is very important

http://my.jetscreenshot.com/11681/m_...ud2l-143kb.jpg

EURX is right at its 5 x daily mid area

its currently wrestling with its 5 x 4 hr highs.

http://my.jetscreenshot.com/11681/m_...q1ql-159kb.jpg

usdx yearly mid

I have the yearly mid at 78.10. from the high, low and close of 2011.
the other levels on the chart are 5 x monthly.

http://my.jetscreenshot.com/11681/m_...vvcd-129kb.jpg

my 5 x weekly mid is at 81.78

Dan which calculation are you using for yearly 50% and 5 week 50% ?

that was a nice entry on EU Dan.

http://my.jetscreenshot.com/11681/m_...ioip-248kb.jpg

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im interested in AU at 0.9940 area. which is the 3 x weekly mid. if it heads down there.

Ian i checked my yearly 50% pointresistance.. and points are as follows..
firstly i do mine manual..checked off 2 platforms..
hi.. lo.. close.... div by 3..
hi.. 8130
lo..7278
close..8023
mid ..7810
range..852
resistance ..50%..8236..other platform..slight variance..mid 7808..range 861..
50%..8238..

Also i have yearly on EUUD resistance 50%.. at 12543..17 points below close this morning..will pm you on another matter over week end..Danps.. also USDx closed thismorning 17 points below.. 8236

thanks Dan

our numbers are the same.
now I see. I think mid, highs and lows.
the 50 % level I think of as the first high.
I may just change over to trading EU more often instead of AU.
If we are both trading the same pair, its helpful.

have a good weekend.

new weekly levels on USDX and a couple of lines . some important hook structure to the left, daily chart.

http://my.jetscreenshot.com/11681/m_...1bwy-226kb.jpg

buy in now at 1.2501

EU 50% 5 x daily lows at 1.2496 and 50% weekly lows at 1.2489. supporting hooking structure on this chart below and 3rd touch on this 4 hr trend
line. also very important a new range bar opened at 1.2501. EURX hit its 50% 5 x daily lows too at 99.79, PA went to 99.78. USDX hit 61% 5 x 4hr highs at 82.49, PA went to 82.50.

http://my.jetscreenshot.com/11681/m_...z5fm-125kb.jpg

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1.2477 is the 61 % 5 x daily lows for EU. If PA goes below then this trade needs re-evaluated. from my main charting MT4 with GMT candle times this H4 chart too.

http://my.jetscreenshot.com/11681/m_...9ktk-133kb.jpg

on my last post I entered EU at 1.2501 long.

following up to improve the next trade I enter.

one important improvement I can make which I didnt do is to check ES sp500 mini futures.

current 3 x weekly mid at 1314.75.
current weekly 50 % low at 1313.63 and 61 % low at 1309.31.
current 5 x daily levels in the chart below. 1313.63 is the 50 % daily lows.

http://my.jetscreenshot.com/11681/m_...veyt-153kb.jpg

given the price levels of the ES charts , entering EU at the same time ES gets to 1314.75 - 1313.63 would of been the best decision.

Since I entered USDX has also hit its weekly 50 % high at 82.57. EURX is now hitting its 61% 5 x daily lows at 99.67.

one valuable piece of information here too is when making a decision between entering a trade at the 5 x daily 50 % lows or 5 x daily 61 % lows on EU, taking into consideration the overall market situation will help and confirm that decision.

I have taken a new long entry at 1.2483 with following up this trade. I exited my 1st position -10 pips. Even if this trade does not work out the learning experience today has been good. ES has gone to a low of 1315.25 at the moment.
EU has finally hit 1.24775 and has bounced off at present.

Now this trade may succeed. IF the ES goes below 1309.31 or EURX tanks then it will fail.

Can ES have a 4 hourly close above its 5 x 4hr highs and break up through these two demark trend lines ?

http://my.jetscreenshot.com/11681/m_...xdzq-135kb.jpg

Been out of touch Ian..passing in in family.. back at it to morrow..Thks charts
picture of 4 hr chart..the fibo points are.. off weekly chart.. havnt done any other numbers yet..

I see you guys use a method from Frank Dilernia. I have purchased 3 of Franks books. The first one around 2003 and then 2 versions of The Trader Trading. I dont have his latest book. I found his stuff used to work real well on the SPI index and stocks but when i tried to use it on Forex it wasnt so successful.

I was a member of Franks trading group for a few years. But it went through a period of constantly changing the goal posts. In the begininng it was just using the fibb levels of the balance point then it went with 3 period dynamic levels hence the book updates.

When i left he was using least square levels with different lengths for different markets. It then became confusing for me and i left. To me it was curve fitting. These days i use price action only but because i have put so much time and effort into the amt levels i could probably add something to the thread and see how you guys use it to add to my own trading.

Bella

hi Dan

Yesterday was the first time in observing ES with trading EU seriously. I expected ES to be really important , but it was not the case with EU.

Trading AU with ES and SPI 200 is really good, and keeping an eye on USDX.

For EU though it looks like USDX is really good, and keeping an eye on EURX and ES. ES broke through its daily lows yesterday and so did EURX, but EU didnt follow them, but it certainly followed USDX.

Im on a three day break with my family from tomorrow, so I will be really interested now how this week closes out as a new quarter will begin next week on Monday. The start of this current quarter Amy and I traded AU. it tanked around 200 pips quickly from the start of the quarter. I consider the start of each new quarter to be the 2nd best opportunity of the whole year.


Im still in the EU position. I stopped out of my 2nd position at 1.2483 at b.e and I entered again at 1.2477 yesterday. I have a stop at 1.2487 to cover the 10 pips I lost yesterday. Normally if this was going to be a good trade. EU would be 100 pips or more away from my entry price by now or within the next 2-3 hours today. the indicator on my chart looks great for making channels. I attached it below.

http://my.jetscreenshot.com/11681/m_...ryct-155kb.jpg

EU is still below its 5 x daily mid at 1.2573 and keeps finding resistance at 1.2520 area at the moment.

http://my.jetscreenshot.com/11681/m_...rhuj-156kb.jpg

USDX is still at its yearly 50% high area.

Welcome to Amys thread.

Amy has pretty much mastered trading with the levels. She has journalled here extremely well to make her thread a gold mine of info.

Please post along with us.

I have read Franks newest book.
June 24, 25 and 26 my posts shows how I basically trade.
I check all the levels and current 80 pip range bar on MT4, then
I zoom out an H4 or daily, mark some trend lines and hooking structure and plan my trade.
Im working on isolating the level set ups that I like , so that I can trade them mechanically.

Finally I am in the process of using some ideas from Sam Seiden too.

How do you do range bars on MT4? The most success i had with this stuff was from the first book. It is just taking 1 period of time and using the .618 of the range over the balance point. So having 1 period of time for example last weeks high low close to determine the levels for this week. Not using last 3 weeks.

Frank has used 3, 4 and 5 period for number of days. I havent got his latest book but in the prior one it was using 3 periods for his dynamic levels except on forex it was 5 period for outer levels but 3 for balance point.

The standard deviation channels or least square channels were something else he was using but kept changing the parameters.

look forward to seeing what amy is using. Looks like from the charts it is the dynamic 3 period with balance point and 50% of the range.

Bella