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Trades based on Market Geometry and Price Action

  • #4,381
  • Jul 24, 2012 11:29am Jul 24, 2012 11:29am
H2 timeframe is definitly a better choice to find a good entry.
H4 not enough precise
H1 too noisy
  • #4,382
  • Jul 24, 2012 11:34am Jul 24, 2012 11:34am
i use it as a middle man, because h4 can be late sometimes, but it is a sound entry time frame

i will short gbp/usd at 1.5482 sl=1.5562 tp=1.5450 tp2=1.5400
Attached Image (click to enlarge)
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  • #4,383
  • Jul 24, 2012 12:08pm Jul 24, 2012 12:08pm
Quoting dailyking
200 pips so far...minus losses, i'm still up
Whats your win%, RR and max-DD for YTD ?
  • #4,384
  • Jul 24, 2012 12:13pm Jul 24, 2012 12:13pm
take some profits
  • #4,385
  • Jul 24, 2012 12:15pm Jul 24, 2012 12:15pm
i really didn't analyze my win rate. but i know it's high...and no drawdown for now
  • #4,386
  • Jul 24, 2012 12:16pm Jul 24, 2012 12:16pm
Quoting dailyking
i use it as a middle man, because h4 can be late sometimes, but it is a sound entry time frame

i will short gbp/usd at 1.5482 sl=1.5562 tp=1.5450 tp2=1.5400
Hi dk,
Been following your thread,your trading approach is very interesting..I am also watching GU,yesterday you said it would be best to wait for a pullback before going short,if so, why didn't you take the short around today's high or you prefer break-outs?and you mentioned something about AUD weakness,do you also use a currency meter?

Just wanted to pick your brains..
It is possible to make large sums trading, small losses, large wins
  • #4,387
  • Jul 24, 2012 12:27pm Jul 24, 2012 12:27pm
i play both break out and early entries..when i miss early entries, i play break out but sometimes i can play both together...I didn't short gbp/usd from the top because i wanted the pair to enter the retracement channel first (38% to 61%). so i wasn't confident the retracement was done, til it is now forming a break out pattern.

2- i don't you currency meter, only chart patterns, confluence-pivot and trend analysis...thx
  • #4,388
  • Jul 24, 2012 12:35pm Jul 24, 2012 12:35pm
none of my entries hit. entered audusd at 1.026. i think it is possible to see 1.01x tmr. i will hold it with SL at b/e... i have 2 trades in audusd and 1 trade in eurusd now. eurusd is kinda a joke haha.
  • #4,389
  • Jul 24, 2012 12:38pm Jul 24, 2012 12:38pm
Quoting dailyking
i really didn't analyze my win rate. but i know it's high...and no drawdown for now
How can you know when to adapt and where is your weakness and strenght if you don't do any analyzing?

btw. How long have you been trading in live?
  • #4,390
  • Jul 24, 2012 12:45pm Jul 24, 2012 12:45pm
stop 0 for my eurusd sell , i don't cut it until it touches 1.20.This trade wants to see 1.20

(i hope it can be possible without a too strong retracement)
  • #4,391
  • Jul 24, 2012 12:58pm Jul 24, 2012 12:58pm
Quoting dailyking
i play both break out and early entries..when i miss early entries, i play break out but sometimes i can play both together...I didn't short gbp/usd from the top because i wanted the pair to enter the retracement channel first (38% to 61%). so i wasn't confident the retracement was done, til it is now forming a break out pattern.

2- i don't you currency meter, only chart patterns, confluence-pivot and trend analysis...thx
ok..thanks for the explanation..
It is possible to make large sums trading, small losses, large wins
  • #4,392
  • Jul 24, 2012 12:59pm Jul 24, 2012 12:59pm
i do analyses but i don't use currency meter. If you want to see if a currency pair is strong, take all that currency with it counter parts like:
eur/usd
eur/gbp
eur/cad
eur/aud...
in all this configuration, if euro is strong the candle chart will tell you. but you don't need to do all of that...by simply learning seriously the market turning point and all reversal continuation set ups you will be free of doubts
  • #4,393
  • Jul 24, 2012 1:13pm Jul 24, 2012 1:13pm
inside bar pin in the making. it's going to be sweet tonight
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  • #4,394
  • Jul 24, 2012 1:17pm Jul 24, 2012 1:17pm
I'm debating wether to add another lot of wait to see if there's any pull back. hmmm....

Quoting dailyking
inside bar pin in the making. it's going to be sweet tonight
  • #4,395
  • Jul 24, 2012 1:52pm Jul 24, 2012 1:52pm
Dollar should find more power for the next jump). It is not much time left.
  • #4,396
  • Jul 24, 2012 2:07pm Jul 24, 2012 2:07pm
wait for retrace tonight or you set you entry at the daily high/low break
  • #4,397
  • Jul 24, 2012 2:34pm Jul 24, 2012 2:34pm
NZD/USD should give us a good time
  • #4,398
  • Jul 24, 2012 2:47pm Jul 24, 2012 2:47pm
Sux that I have to work during NY hrs and sleep during London hrs. I tend to miss all the fun.

Quoting vitall
NZD/USD should give us a good time
  • #4,399
  • Jul 24, 2012 2:55pm Jul 24, 2012 2:55pm
then take your entries on daily high/low break once you find the trend
  • #4,400
  • Jul 24, 2012 2:57pm Jul 24, 2012 2:57pm
dk what time is it for you right now? because for me it's 22h00
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