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  • #9,021
  • Nov 1, 2012 4:07am Nov 1, 2012 4:07am
Quoting robuk
Dee and Munirpt - you've done it again , great - and thanks so much for posting your charts with such good explanations , they are so helpful .I just want you to know how much i appreciate them - and I'm sure i speak for many others , it must be great to help others so much , i wish i could also do the same , (who knows - maybe one day )
Also would be good to see Phx 62 , emmanuel and many others who used to post here and of course not forgeting X_MAN
Not sure about Phx62 but Emmanuel and X man are pretty much focused on the 15 min thread.
  • #9,022
  • Nov 1, 2012 4:16am Nov 1, 2012 4:16am
This was my view from earlier this morning.

EUR - D big shooting star but couldn't go below 50 RSI or its 8 lwma. 4hr shooting star at W M3, evening star pattern. 1hr showing a potential head and shoulders, neckline around Y lows. Bias down but an engulfing pos close could easily see us move up.

I have 1hr and 15 min at the office, we are below the 1hr 32lwma (so below 4hr 8 lwma yes I know apologies not part of system). We had solid engulfing negative closes on 1hr as highlighted by the arrows down, in line with 4hr, a straightforward sell.

Mrs V's back issues are not over so she was in out and done for the day.
Attached Image(s) (click to enlarge)
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  • #9,023
  • Nov 1, 2012 4:49am Nov 1, 2012 4:49am
Hi guys

just wanted to give you some insights about my way of trading reversals.

When trading a reversal i require some confirmation.
Usually that confirmation comes from 15TF chart. something like a divergence.

As you can see in my chart, we have a 15TF bulish divergence, but if you look at 1H chart, the distance between red and green is still big, so this means that you should wait more time before going long.

One usual reversal pattern is the 123. please learn more about it from Vantage blog : http://vantagefx.blogspot.pt/2010/05...and-lower.html
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU1nov_15.jpg Size: 121 KB
Click to Enlarge Name: eu1nov_1h.jpg Size: 125 KB
  • #9,024
  • Nov 1, 2012 5:12am Nov 1, 2012 5:12am
Missed the breakout, bugger, need to get up earlier. but, all is not lost.

1 x 4hr 200 ema bounce trade +20
1x 15 min pullback entry +10

Even if this is all today because of Non Farm tomorrow it will do.
Attached Image (click to enlarge)
Click to Enlarge Name: 1 11 2 trades.png Size: 91 KB
Cut your Losers short and let your Winners run.
  • #9,025
  • Nov 1, 2012 5:15am Nov 1, 2012 5:15am
Quoting munirpt
l
see you slipped a sneaky little scalp in there
Cut your Losers short and let your Winners run.
  • #9,026
  • Nov 1, 2012 5:19am Nov 1, 2012 5:19am
Quoting dee50
see you slipped a sneaky little scalp in there
eheheh, similar to yours.....
  • #9,027
  • Nov 1, 2012 5:23am Nov 1, 2012 5:23am
There he is, he hasn,t left us yet. Phx62.
Cut your Losers short and let your Winners run.
  • #9,028
  • Nov 1, 2012 5:25am Nov 1, 2012 5:25am
Quoting dee50
There he is, he hasn,t left us yet. Phx62.
Actually i was seeing the same and was very happy to see him around!
  • #9,029
  • Nov 1, 2012 5:48am Nov 1, 2012 5:48am
Hello, Can anyone please let me know how to setup SHI channel on H4 based on the D1 chart. I have set the SHI channel on D1 and H4 chart. But on D1 chart it shows Uptrend whereas in H4 chart it shoes Downtrend. Can anyone explain me please? Thank You!
  • #9,030
  • Nov 1, 2012 5:49am Nov 1, 2012 5:49am
How far can the 2nd leg pullback to validate a 123, is it 38% Fib, 50% or 61.8%?
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 48 KB
Cut your Losers short and let your Winners run.
  • #9,031
  • Nov 1, 2012 5:50am Nov 1, 2012 5:50am
Quoting Fxlearner12
Hello, Can anyone please let me know how to setup SHI channel on H4 based on the D1 chart. I have set the SHI channel on D1 and H4 chart. But on D1 chart it shows Uptrend whereas in H4 chart it shoes Downtrend. Can anyone explain me please? Thank You!
Sorry, i never traded 4h or D charts with this system, specially with SHI channel. maybe someone else can help you.
  • #9,032
  • Nov 1, 2012 5:51am Nov 1, 2012 5:51am
Ok munirpt Thank You! Waiting for someone to reply!
  • #9,033
  • Nov 1, 2012 5:53am Nov 1, 2012 5:53am
Quoting Fxlearner12
Hello, Can anyone please let me know how to setup SHI channel on H4 based on the D1 chart. I have set the SHI channel on D1 and H4 chart. But on D1 chart it shows Uptrend whereas in H4 chart it shoes Downtrend. Can anyone explain me please? Thank You!
can you show us your charts? I have not traded using the SHI channel but If we can see what you mean we might be able to help.
Cut your Losers short and let your Winners run.
  • #9,034
  • Nov 1, 2012 5:55am Nov 1, 2012 5:55am
Quoting dee50
How far can the 2nd leg pullback to validate a 123, is it 38% Fib, 50% or 61.8%?
i would expect a pullback until you get a confluence of 10 ema and previous resistance on your 15M chart. if you see a rejection candle there, for me thats enough to validate the pattern
  • #9,035
  • Nov 1, 2012 6:01am Nov 1, 2012 6:01am
Quoting dee50
can you show us your charts? I have not traded using the SHI channel but If we can see what you mean we might be able to help.
I have attached the chart.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: d1.gif Size: 21 KB
  • #9,036
  • Nov 1, 2012 6:31am Nov 1, 2012 6:31am
Quoting Fxlearner12
Hello, Can anyone please let me know how to setup SHI channel on H4 based on the D1 chart. I have set the SHI channel on D1 and H4 chart. But on D1 chart it shows Uptrend whereas in H4 chart it shoes Downtrend. Can anyone explain me please? Thank You!
Simple solution is to use this ind Sonic SHI MTF (multi time frame) once you have installed it go to settings and set "timeframe" to 1440, this is on your 4 hr chart. The 0 setting automatically adjust the channel as you change time frames.
Attached Image (click to enlarge)
Click to Enlarge Name: shi.png Size: 45 KB
Attached File(s)
File Type: mq4 Sonic SHI Channel MTF.mq4   9 KB | 497 downloads
Cut your Losers short and let your Winners run.
  • #9,037
  • Nov 1, 2012 6:35am Nov 1, 2012 6:35am
There is no right or wrong answer. But I use Fibos to gauge the likely strength of the reversal. Pulback to the 38% = strong, 50% Medium and 61.8 very weak. Same as an ABCD
Attached Image (click to enlarge)
Click to Enlarge Name: 123b.png Size: 49 KB
Cut your Losers short and let your Winners run.
  • #9,038
  • Nov 1, 2012 6:42am Nov 1, 2012 6:42am
Here is my reversal trade.
Everything is explained on the chart.

Did someone else take this trade?
Attached Image (click to enlarge)
Click to Enlarge Name: eu_1nov_afternoon.jpg Size: 143 KB
  • #9,039
  • Nov 1, 2012 6:48am Nov 1, 2012 6:48am
Quoting dee50
There is no right or wrong answer. But I use Fibos to gauge the likely strength of the reversal. Pulback to the 38% = strong, 50% Medium and 61.8 very weak. Same as an ABCD
You are definitely right!
  • #9,040
  • Nov 1, 2012 6:59am Nov 1, 2012 6:59am
The 123 played out. But where will it go. You can use your Fib Expansion tool to judge that. The C-D leg will be approximately equal to the A-B leg, lets see what happens.
Attached Image (click to enlarge)
Click to Enlarge Name: abcd.png Size: 51 KB
Cut your Losers short and let your Winners run.
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