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  • #8,121
  • Aug 21, 2012 5:12am Aug 21, 2012 5:12am
Price struggles near DR2 and fib-r 161%...3h1 candles can be challenging when you manage this trade.
but USD is weaker overall ...
Attached Image (click to enlarge)
Click to Enlarge Name: EU 21 Aug GMT1000 21-8-2012 6-08-22 PM.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,122
  • Aug 21, 2012 7:30am Aug 21, 2012 7:30am
Quoting Star178
Today's trade on AUDUSD, AUDJPY, NZDUSD, EURUSD; all hit 1st TP (30pips).
Hi Star178,

I'm confused by the trades you have taken. Could you maybe explain it to me. Lets talk about EUR/USD.

Now entry candle on H1 chart you showing as an entry is 5hours before London open. What gave you a signal to enter long there?
Reasons not to enter there:
1. It's before London open and we don't really know what they have in mind, (big boys) pushing the market up or down. Except that maybe last 3 days were making higher lows, but it was by so little that it could be looked at as a resistance.
2. We have resistance at ~ 1.2370 that price was knocking on for 6 days. That entry point was running right into that resistance. Risky trade.
3. I cannot see any price action indicating a long or short entries.

Could you please elaborate on this?
  • #8,123
  • Aug 21, 2012 9:11am Aug 21, 2012 9:11am
Quoting kaunasny
Hi Star178,

I'm confused by the trades you have taken. Could you maybe explain it to me. Lets talk about EUR/USD.

Now entry candle on H1 chart you showing as an entry is 5hours before London open. What gave you a signal to enter long there?
Reasons not to enter there:
1. It's before London open and we don't really know what they have in mind, (big boys) pushing the market up or down. Except that maybe last 3 days were making higher lows, but it was by so little that it could be looked at as a resistance.
2. We have resistance...
Yes I agree with you, that by looking at the EURUSD chart on it's own, there is no "signal" to enter a trade.

Earlier on I had entered a trade on NZDUSD and than followed by a strong upward movement an hour later.

That gives me the decision the trade EURUSD 2 hours later.
  • #8,124
  • Aug 21, 2012 9:41am Aug 21, 2012 9:41am
EURUSD trade.

Another point I forget to mention, only after going through my snapshot,

it's the breakout of the Inside Bar on the 4 hr. chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-08-21 EURUSD EP.jpg Size: 204 KB
  • #8,125
  • Aug 21, 2012 11:09am Aug 21, 2012 11:09am
Quoting Star178
EURUSD trade.

Another point I forget to mention, only after going through my snapshot,

it's the breakout of the Inside Bar on the 4 hr. chart.
Ok, thank you for the answer.

But I don't understand how can one trade a pair based on the actions of different pair. If a different pair gives long signal wouldn't it be better to double the lots instead of putting another lot at a pair that sometimes trades to the same direction. This time the singal paid off, but I wonder what's the probability.

Well anyway it's just my thoughts.
  • #8,126
  • Aug 21, 2012 11:18pm Aug 21, 2012 11:18pm
Quoting kaunasny
Ok, thank you for the answer.

But I don't understand how can one trade a pair based on the actions of different pair. If a different pair gives long signal wouldn't it be better to double the lots instead of putting another lot at a pair that sometimes trades to the same direction. This time the singal paid off, but I wonder what's the probability.

Well anyway it's just my thoughts.
Pairs are correlated so their movements will either generally mirror (eur/gu) or be opposite (eur/chf). Google forex pairs correlation.

Sometimes one pair will lag the other, so if you see one move that you missed, you can at least look at the other to see if it goes and then still get a trade in.

Then theres also the reason about seeing strength/weakness across the board i.e. is EUR strong against everything.

You are right about your risk and trading too many correlated pairs. Then again if you trade 1 pair get it to BE theres nothing wrong with taking another.
  • #8,127
  • Aug 22, 2012 2:19am Aug 22, 2012 2:19am
Hi,

LO trade open.
Attempt to catch a retracement of yesterday rally.
H4 shows a bearish engulfing setup.

regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EU H1 LO 22 Aug 22-8-2012 3-11-16 PM.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,128
  • Aug 22, 2012 3:33am Aug 22, 2012 3:33am
Quoting emmanuel7788
Hi,

LO trade open.
Attempt to catch a retracement of yesterday rally.
H4 shows a bearish engulfing setup.

regards,
Price came back to test the tops from 6/7 Aug which is for now acting as support. We definitely weren't sellers and Mrs V did not get a buy entry she liked so perhaps might only get an opportunity this afternoon.

For now bias definitely up in line with D closes and 1hr HH HL flow. Until that flow changes of course.
  • #8,129
  • Edited 4:48am Aug 22, 2012 4:07am | Edited 4:48am
Quoting emmanuel7788
Hi,

LO trade open.
Attempt to catch a retracement of yesterday rally.
H4 shows a bearish engulfing setup.

regards,
In addition to Vantage´s comment.

Optomize your entry

If you check 1 tf lower you would have seen price was in the bottom of a cycle. 1 tf up (4hr) and bullish engulfing is forming. 1 Hr chart at 09.00 (08.00 gmt) shows a pin candle (reversal candle) not a strong one but one to take note of. Always expect a retest of a high, especially at resistance, confluence of 61.8% and 1.2500 RN then look for an entry either short because price has been rejected, or long on a breakout. OR take an entry on the 15 min, it gave me 20 pips long for 1:2. Now waiting to see if we get rejection. By the way I too believe that the price will fall, but I am not assuming it will.
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Cut your Losers short and let your Winners run.
  • #8,130
  • Edited 4:50am Aug 22, 2012 4:28am | Edited 4:50am
Hey guys

I think price is likely to retrace.
the MBL is high up in the 68 zone.
Usually the MBL needs to go to the 50 area

X
Attached Image (click to enlarge)
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X-man the legendary conqueror of markets
  • #8,131
  • Aug 22, 2012 4:45am Aug 22, 2012 4:45am
Quoting X-Man
Hey guys

I think price is likely to retrace.
the MBL is high up in the 68 zone.
Usually the MBL needs to go to the 50 area

X

Good reminder.
Attached Image (click to enlarge)
Click to Enlarge Name: MBL.png Size: 85 KB
Cut your Losers short and let your Winners run.
  • #8,132
  • Aug 22, 2012 4:54am Aug 22, 2012 4:54am
Quoting X-Man
Hey guys

I think price is likely to retrace.
the MBL is high up in the 68 zone.
Usually the MBL needs to go to the 50 area

X
Good return to S3 thread!
  • #8,133
  • Aug 22, 2012 4:59am Aug 22, 2012 4:59am
Quoting smarco
Good return to S3 thread!
No problem my friend.
Im glad to be back. I have more time now on my hands with lots more experience to help whenever i can.
Good pips to all of you guys.

X
X-man the legendary conqueror of markets
  • #8,134
  • Aug 22, 2012 6:58am Aug 22, 2012 6:58am
hey guys

Wheres the S3 team???
LOL missing in action.
Anyone is holding short on EU?

Have to regroup the team and take down these markets.
Attached Image (click to enlarge)
Click to Enlarge Name: 1h eu.jpg Size: 126 KB
X-man the legendary conqueror of markets
  • #8,135
  • Aug 22, 2012 7:14am Aug 22, 2012 7:14am
Quoting X-Man
hey guys

Wheres the S3 team???
LOL missing in action.
Anyone is holding short on EU?

Have to regroup the team and take down these markets.

Hello!
Welcome back to your thread.
In no time the whole team will be online soon....

I am still holding EU short... shall see how NY session will trade with FOMC later...

Cheers!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,136
  • Aug 22, 2012 7:18am Aug 22, 2012 7:18am
Hi X-Man and all,

My first post. I followed TMS starting a month ago and naturally took to this great thread.

Caught most of the E/U move yesterday and the start of the U/Cad rally off the channel on the 4Hr but jumped out at the 60EMA. Over 100 on the day - not bad.

Today we're sitting above the daily pivot and I'm waiting for a buy signal to jump in. Very little retracement usually means more to come.

Great method X-Man, I like that you can't miss a big move because you didn't get a signal.

Don
Attached Image (click to enlarge)
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  • #8,137
  • Aug 22, 2012 7:21am Aug 22, 2012 7:21am
Hello X-man,

did you make a little xmanx while you went MIA?

regards,
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,138
  • Edited 7:49am Aug 22, 2012 7:30am | Edited 7:49am
Hi X-man, great to see you back.

I'm hoping your return will wake up the thread.

Phx dropped in the other day too.

r



Quoting X-Man
hey guys

Wheres the S3 team???
LOL missing in action.
Anyone is holding short on EU?

Have to regroup the team and take down these markets.
  • #8,139
  • Aug 22, 2012 7:45am Aug 22, 2012 7:45am
Quoting emmanuel7788
Hello!
Welcome back to your thread.
In no time the whole team will be online soon....

I am still holding EU short... shall see how NY session will trade with FOMC later...

Cheers!

While i was away i went through some trading experiences. Most very very good and some bad.
I was introduced to few ideas during this time of combining certain indies from certain systems to give me the ideal trading system .Well before any of you go down that road i will tell you now that you should not even try. Its a dead end.
Its a waste of time and you wont learn from it. At times you will see in certain threads guys making cash with that system. ALL systems work on PA. if you dont pay attention to PA your account will fail. All the traders that make money tell you to watch S&R areas and important levels etc.
My good experience was that learning naked trading , pure price action. That is a must for every trader. Price patterns etc
No indie in the world will tell you what the market will do.
PA is KING!!!!

Let me tell you right now that X-man S3 system beats most system hands down.
The simplicity of the system with the least amount of indies might make you under estimate the power of this system.
This has been my first system and it will be my only system.
There will be new indies all the time popping up in the markets tell you this and that and we get carried away the more complex it looks. We think that will be the crystal ball and make millions.
To me the new indies get released for a trade to lose money instead of make money.

When you follow price action then you will react to price action better and more precise than any indie thats worth thousand of dollars on the market reducing losses. which means that you will be the perfect indie coz its not mechanical. That indie is only found within yourself and aint for sale. thats priceless. That comes with contructive learning and chart time.

When you add an indie to your charts firstly it will only show you movement after that movement. which means that you will be entering late in the first place and then when price turns you losses are bigger. so all indies react to after PA and will never react before PA.
It will only work in perfect market situations. and guess what? the market is never perfect.

I hope this is helpful to the noobs out there and by taking this post into account many of the noobs will skip the road of going through all the crap thats out there.

Keep it simple guys
X-man the legendary conqueror of markets
  • #8,140
  • Aug 22, 2012 7:47am Aug 22, 2012 7:47am
Quoting emmanuel7788
Hello X-man,

did you make a little xmanx while you went MIA?

regards,
where did this little Xman come from.
Im glad my name inspires
X-man the legendary conqueror of markets
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