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Symphonie Trader System

  • #14,261
  • Edited 3:51am Jul 5, 2012 3:17am | Edited 3:51am
Is this a valid signal, or should i move stop(red line) higher as sugested in first post that is 50 pips. Im only wondering if this trade should even be taken due to possible pivot bounce and also because stoch is in oversold area or it would be better to wait for better signal.
edit.trade going well, but still not sure if this was correct trade even if its in positive now
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  • #14,262
  • Jul 5, 2012 3:50am Jul 5, 2012 3:50am
Quoting BlueGas
Is this a valid signal, or should i move stop(red line) higher as sugested in first post that is 50 pips. Im only wondering if this trade should even be taken due to possible pivot bounce and also because stoch is in oversold area or it would be better to wait for better signal.
1) I'm not sure that you are using the correct Matrix as I had a signal generated 2 candles earlier for better entry (3.0.1 is the most current but someone else ought to confirm this - see page 1)
2) I didn't take the trade for one of the reason stated (oversold Stox) and also because the Risk/Reward on this trade is potentially not good: I had entry at 1.2524 and earlier today & yesterday we bounced off the 2510 area a few times already so there might only be 10/12 pips in it; personally I would rather take a short signal from higher up to be able to put stop at b/e as we near the support area hoping for a break rather than risk another bounce and see my s/l hit (but each to their own as they say) 1.2520 as I type
  • #14,263
  • Jul 5, 2012 4:04am Jul 5, 2012 4:04am
Quoting olivierforex
1) I'm not sure that you are using the correct Matrix as I had a signal generated 2 candles earlier for better entry (3.0.1 is the most current but someone else ought to confirm this - see page 1)
2) I didn't take the trade for one of the reason stated (oversold Stox) and also because the Risk/Reward on this trade is potentially not good: I had entry at 1.2524 and earlier today & yesterday we bounced off the 2510 area a few times already so there might only be 10/12 pips in it; personally I would rather take a short signal from higher up to be able...
Im using 3.0.0. Matrix, r:r seems good from my point, im targeting somewhere in 2486 (S1) - 2463 (sup), so rr is around 1:3 or bit more if i let it run down to 63. Yeah stox was my main concern, just wanted to ask for other opinions if i missed something, probably should hold on my hands cause of news like Evaluator said ECB decision,this one worked i guess, but maybe other time i could be "shaked" out. Also about MM,as stated in first we should set 50 pips stop with using ARS ratio system, or can stop also be used discretionary and the just calcualte like 2% risk with that stop, just wondering,cause i dont want to "break" the system...
  • #14,264
  • Edited 6:48am Jul 5, 2012 4:07am | Edited 6:48am
Took the short signal after London open, reasons being below the DP and price banging it's head against a SbR level i noticed on the 4hr. Trade currently at 2R and risk taken off.

Edit: 12:45 - S1 tagged..will hold for next impulse down.
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  • #14,265
  • Jul 5, 2012 4:17am Jul 5, 2012 4:17am
Hello all, I don't look around the forums much anymore but I had afew minutes the other day and I stumbled accross this system.... I've traded off 1h charts for years but l've been looking for a smaller tf method for a while... I trade with pa stochs (8 5 5 which is almos the same as your 11 3 3) off s&r and bb for range... alot of similarities with this system.

anyway please find a chart of gbp/usd today the lighter boxes show my trading hours.... trades within the first few hours are always the best movers in my experience and i was wondering if you guys have found the same with this system? I've also a question on repainting... how does it manifests itself? or has anyone got an example?

regards
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  • #14,266
  • Jul 5, 2012 4:33am Jul 5, 2012 4:33am
It appears that a top is now firmly inplace at 1.27500 and it appears that the 4th wave is complete which puts the EURUSD in a downtrack as wave 5 begins.

We have a perfekt retracement to the 78.6 fib before reversing. (it was very strong and violent in my opinion 150 pip in 2 hours)

So now we look to ending targets for this last wave 5....First target area appears to be in the 1.24000 level before any possible bounce.

HOWEVER!!!, today is a ECB Rate Decision day and this can change quickly depending on what the ECB decides to do....Watch for fast directional changes and keep your stoplosses tight. But for now...Symphonie is telling me that the direction is down for the EURUSD.

Personally, I will wait until after the ECB rate decision to make my choice of trade direction and will sit on the side and let the markt give me the pips once it decide on direktion.

Evaluator.:nerd:
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  • #14,267
  • Jul 5, 2012 5:03am Jul 5, 2012 5:03am
EU/UK Preview - 5th July 2012



Inserted Video
  • #14,268
  • Jul 5, 2012 5:42am Jul 5, 2012 5:42am
Here my live trade today.
Red line my entry, 1/2 lot closed and moved to BE the other 1/2.
Later more comments.
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You control how you trade; the market controls how and when you'll get paid
  • #14,269
  • Jul 5, 2012 5:53am Jul 5, 2012 5:53am
Quoting wiz3003
Here my live trade today.
Red line my entry, 1/2 lot closed and moved to BE the other 1/2.
Later more comments.

I would be very careful with orders now that the time is under 60 min until BOE rate decision and then the ECB rate decisions.

Trade carefully as markt liquidity dry up as markt waits on their decision for direktion.

Evaluator.:nerd:
  • #14,270
  • Jul 5, 2012 5:56am Jul 5, 2012 5:56am
Quoting BlueGas
Is this a valid signal, or should i move stop(red line) higher as sugested in first post that is 50 pips. Im only wondering if this trade should even be taken due to possible pivot bounce and also because stoch is in oversold area or it would be better to wait for better signal.
edit.trade going well, but still not sure if this was correct trade even if its in positive now
The trade is correct, but the matrix you're using v3.0 uses a different sentiment indicator which takes longer to change which is why olivierforex commented that his signal was a couple of bars earlier. In this instance it really didn't make much difference but it can do. Use the 3.01 (old sentiment) instead.
  • #14,271
  • Jul 5, 2012 6:51am Jul 5, 2012 6:51am
Quoting ohammond
The trade is correct, but the matrix you're using v3.0 uses a different sentiment indicator which takes longer to change which is why olivierforex commented that his signal was a couple of bars earlier. In this instance it really didn't make much difference but it can do. Use the 3.01 (old sentiment) instead.
Thank you for your explanation, will change to 3.0.1, as im writing this my target just got hit. Now standing aside
  • #14,272
  • Jul 5, 2012 6:54am Jul 5, 2012 6:54am
ECB cuts interest rates by 25bp to 0.75% but more importantly the ECB cuts deposti rate to 0!!!!

EURUSD is now set to fall over the US Markt....looking for S3 support level to be hit today at 1.23800

As I said in my post #14269 Symphonie is calling this one for a drop in EURUSD. Looks like Symphonie makes the right call again.
  • #14,273
  • Jul 5, 2012 6:55am Jul 5, 2012 6:55am
Quoting sidefx
Took the short signal after London open, reasons being below the DP and price banging it's head against a SbR level i noticed on the 4hr. Trade currently at 2R and risk taken off.

Edit: 12:45 - S1 tagged..will hold for next impulse down.
S2 tag coming up - trade has also just hit 8RR.
  • #14,274
  • Jul 5, 2012 6:55am Jul 5, 2012 6:55am
SL in breakeven hit during the news.
1/2 lot profit : +20 pips
1/2 lot SL in BE : 0 pips
Attached Image (click to enlarge)
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You control how you trade; the market controls how and when you'll get paid
  • #14,275
  • Jul 5, 2012 6:57am Jul 5, 2012 6:57am
Quoting Evaluator
I would be very careful with orders now that the time is under 60 min until BOE rate decision and then the ECB rate decisions.

Trade carefully as markt liquidity dry up as markt waits on their decision for direktion.

Evaluator.:nerd:
Thank eval,

I enter the trade this morning and when I post 1/2 lot already in my pocket and 1/2 in BE just because the news.
Later I will comment my trade.

thank again
You control how you trade; the market controls how and when you'll get paid
  • #14,276
  • Jul 5, 2012 6:58am Jul 5, 2012 6:58am
EURUSD.......


Inserted Video
  • #14,277
  • Jul 5, 2012 7:03am Jul 5, 2012 7:03am
Quoting sidefx
S2 tag coming up - trade has also just hit 8RR.
S2 tagged and trade at 11RR. Just taken +100. Enough for me on this one. Thanks again, Eval/RealJumper!
  • #14,278
  • Jul 5, 2012 7:09am Jul 5, 2012 7:09am
Quoting sidefx
S2 tagged and trade at 11RR. Just taken +100. Enough for me on this one. Thanks again, Eval/RealJumper!
Well done
Doing what you like is Freedom. Liking what you do is Happiness.
  • #14,279
  • Jul 5, 2012 7:42am Jul 5, 2012 7:42am
Quoting wiz3003
Thank eval,

I enter the trade this morning and when I post 1/2 lot already in my pocket and 1/2 in BE just because the news.
Later I will comment my trade.

thank again

You are most welcome and Congratulations!
  • #14,280
  • Jul 5, 2012 8:07am Jul 5, 2012 8:07am
Quoting Evaluator
ECB cuts interest rates by 25bp to 0.75% but more importantly the ECB cuts deposti rate to 0!!!!

EURUSD is now set to fall over the US Markt....looking for S3 support level to be hit today at 1.23800

As I said in my post #14269 Symphonie is calling this one for a drop in EURUSD. Looks like Symphonie makes the right call again.
Hit it nicely, good call.
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