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Genesis Matrix Trading

  • #7,381
  • Nov 14, 2012 3:40am Nov 14, 2012 3:40am
Quoting realjumper
There was no perfect entry set up, you're quite right.....and hindsight is a wonderful thing but.....you can see that before Tokyo open (the dotted vertical line) the PA was riding along the top of the DP.....and there was an MTF15 arrow signal (circled) just after the M5 arrow signal as the PA began to rise. There wasn't really an entry there but after Tokyo opened there was a pullback towards the DP and then a pretty good stoch (m5 and mtf 15) indication along with Matrix, 5EMA etc etc etc. The SL under the DP and swing low would have been about...
Thanks RJ ...
  • #7,382
  • Nov 14, 2012 3:42am Nov 14, 2012 3:42am
Quoting realjumper
The JPY crosses were the ones to pick but the entry was way before Frankie open and I was busy the time.
Well, I'm in EURJPY long. Higher TFs look good, but the more I analyse the trade for this post, the more I think it was not so wise:
Pro:

 

  1. up trend (you think?)
  2. higher timeframe signals are strong

Cons:

 

  1. "high1" in the way
  2. might be chasing an already big move
  3. we are above R2, statistically unlikely to race much higher
  4. stochs are not optimal

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  • #7,383
  • Nov 14, 2012 3:46am Nov 14, 2012 3:46am
Quoting jono717
Tx RJ

Could you maybe give me answer on one of my previous posts.

http://www.forexfactory.com/showthre...12#post6192612
Hi Jono,
As per Genesis core (4 dots) there were only 2 possible entries (yellow lines):
1) I would not have taken a short because the M5 stox has already been in OS territory twice (and no, this is not (in this instance) a sign of continued weakness as we are not in any downtrend - we were still in that 1.2700/25 narrow range)
2) I didn't take that long either because although the M5 stox is ok, the M15 did not got in OS territory + we had overhead resistance at the top of the range mentionned in 1) around 2725 and also R1 at 2733.
Edit: Also, the M15 Matrix had just closed (09.40) and was fully red (short) still

Your M15 stox doesn't look 'right' compared to mine (just me?) and you need to set up your pivots + read more of the thread starting at post #1
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  • #7,384
  • Nov 14, 2012 3:47am Nov 14, 2012 3:47am
Quoting jono717
Hi RJ,

Please have alook at this chart I think it is my inexperience that most likely geting the better of me.

The first Red line indicate most likely where I would have trade but didn't due to the rule you have set in place I didn't.

Second Red line wanted to trade but like I said inexperience.

Green line is London session opening. Where red transparent is the euro session start in Frankfurt up until London session closing

Should I what to London opens aswell??

Or

What do you suggested.
Trading the Frankfurt open can be a double edged sword. Many times in can be the start of a serious trend that runs all the into the USA session......but beware......sometimes London will immediately reverse the PA of Frankie open.

The first red line on your chart was not a trade opportunity at all.....

The second red line was a genuine opportunity and I nearly took it myself.....what stopped me was that we were close to R1.....I think it was about 12 or 14 pips. I considered it a bit of a risky trade because R1 was so close, and because London was almost ready to open......so......like you, I waited....and imo it was the right thing to do. Yes, we would have been ok as the SL placed under the swing low would have been fine, but for the reasons I just gave, I didn't like the risk. Better to wait for a better opportunity
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,385
  • Nov 14, 2012 3:51am Nov 14, 2012 3:51am
Quoting idempotent
Well, I'm in EURJPY long. Higher TFs look good, but the more I analyse the trade for this post, the more I think it was not so wise:
Pro:

 

  1. up trend (you think?)
  2. higher timeframe signals are strong

Cons:

 

  1. "high1" in the way
  2. might be chasing an already big move
  3. we are above R2, statistically unlikely to race much higher
  4. stochs are not optimal

I have the ATR at 105 against a projected 96......so we are over the ATR limit..and the BRN 102 is just around the corner!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,386
  • Nov 14, 2012 3:56am Nov 14, 2012 3:56am
Quoting RainyDay1
Thanks RJ ...
No worries. Trading isn't an exact science, and we will miss great moves like the Yen crosses from time to time. Other times we pick up good moves when we were only expecting a small trade.....such is life!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,387
  • Nov 14, 2012 4:03am Nov 14, 2012 4:03am
Quoting olivierforex
Hi Jono,
As per Genesis core (4 dots) there were only 2 possible entries (yellow lines):
1) I would not have taken a short because the M5 stox has already been in OS territory twice (and no, this is not (in this instance) a sign of continued weakness as we are not in any downtrend - we were still in that 1.2700/25 narrow range)
2) I didn't take that long either because although the M5 stox is ok, the M15 did not got in OS territory + we had overhead resistance at the top of the range mentionned in 1) around 2725 and also R1 at 2733.
[i]Edit: Also,...
Olivier and Rj many thanks guysm your are going to really help me up my Forex skills.
  • #7,388
  • Nov 14, 2012 4:24am Nov 14, 2012 4:24am
Quoting idempotent
Well, I'm in EURJPY long. Higher TFs look good, but the more I analyse the trade for this post, the more I think it was not so wise:
Pro:

 

  1. up trend (you think?)
  2. higher timeframe signals are strong

Cons:

 

  1. "high1" in the way
  2. might be chasing an already big move
  3. we are above R2, statistically unlikely to race much higher
  4. stochs are not optimal

I couldn't decide whether to take this trade or not. So I didn't
Not sure what you mean with "high1" in the way. Do you mean that it looked like it could be forming a double top.
I think that you make valid points.

Some people may also find that using a sensible SL may have meant it being bigger than they would like.

Not sure how well this type of analysis translates to M5 charts, but if you look at my posted chart, The blue box shows a mini range.
When the market is ranging, it is a tussle between the bulls and the bears with neither side seemingly able to take ground.
PA entered the range with the Bulls being very strong, bears fought back but were unable to keep the bears at bay and were over-run and price continued up.
Price reached and breached R2, where the bears once again launched an offensive. But they could only manage to take the price back down to the top of the range before the bulls regained domination.
The bulls took the price up again to where the bears last made a stand. Note that the bears took 8 candles to regain the ground to the top of the range.
The bulls only needed 4 candles to take that ground back.
At times like this, you often find that the bearish sentiment totally collapses

So I think it was quite reasonable for you to take the trade.
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  • #7,389
  • Nov 14, 2012 4:27am Nov 14, 2012 4:27am
Quoting idempotent
Well, I'm in EURJPY long. Higher TFs look good...
All the pros & cons you mentionned are all good and they highlight the dilemma we all face when trying to re-enter in a good trend when we haven't picked the original entry because we either weren't around when it happened or it was a time when we don't trade (sleep).
On EY the higher TFs will all look nice and the right colour but the Stoxs will be a bit messed up lol

In those circumstances I try to find clues/signs in other related instruments, in this case CY: they both look(ed) very similar with their respective DP/R1/R2/ATR at similar distances away apart ... from the Weekly Pivot (WP).
1) see how CY broke its resistance at the WP at 84.21 and how instantly resistance became support (CY stronger and maybe a 'leader' today?)
2) this happened more than 1 hour before EY did break its own WP at 101.61
3) this would have made me even more cautious about taking the risky-against-the-trend short EY at 101.54 (08.30 UK time) but would have added weight to take a long EY (as you did) on the next signal.
  • #7,390
  • Nov 14, 2012 4:33am Nov 14, 2012 4:33am
Quoting idempotent
Well, I'm in EURJPY long
Closed pretty much at BE.
  • #7,391
  • Nov 14, 2012 4:37am Nov 14, 2012 4:37am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
GBP news "The UK economy has barely grown over the past two years," is that a surprise?
  • #7,392
  • Nov 14, 2012 4:39am Nov 14, 2012 4:39am
Quoting idempotent
Closed pretty much at BE.
As EJ pointed out, the BRN caused problems for your trade. I don't know about you, but I am so focused on PA that I don't usually notice BRN
Please Do Not PM Me With Coding Enquiries
  • #7,393
  • Nov 14, 2012 4:40am Nov 14, 2012 4:40am
Quoting olivierforex
All the pros & cons you mentionned are all good and they highlight the dilemma we all face when trying to re-enter in a good trend when we haven't picked the original entry because we either weren't around when it happened or it was a time when we don't trade (sleep).
On EY the higher TFs will all look nice and the right colour but the Stoxs will be a bit messed up lol

In those circumstances I try to find clues/signs in other related instruments, in this case CY: they both look(ed) very similar with their respective DP/R1/R2/ATR at similar distances...
All good points Oli......the only other way I know to get a good entry signal in such a relentless trend is to go down to the M1 chart and wait for a pullback. This often gives a signal that is not readily apparent on the M5. I used to do this quite a lot but I haven't done it lately, but today's EJ, CJ and UJ pairs were ripe for the pickin!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,394
  • Nov 14, 2012 4:57am Nov 14, 2012 4:57am
I don't know about you guys and gals, but I'm starting to think that I must have missed a month.
By that, I don't mean that I'm worried about being pregnant - that would make history.
What I mean is when the western markets start to wind down in preparation for the Christmas period. There are few good moves and mostly originate in The Asian sessions, because Asia does not have Christmas.
Also at that time of year, with lower liquidity in the markets, it becomes very difficult to analse PA and the better moves seem to come out of nowhere.
Please Do Not PM Me With Coding Enquiries
  • #7,395
  • Nov 14, 2012 4:58am Nov 14, 2012 4:58am
Quoting olivierforex
Hi Jono,
As per Genesis core (4 dots) there were only 2 possible entries (yellow lines):
1) I would not have taken a short because the M5 stox has already been in OS territory twice (and no, this is not (in this instance) a sign of continued weakness as we are not in any downtrend - we were still in that 1.2700/25 narrow range)
2) I didn't take that long either because although the M5 stox is ok, the M15 did not got in OS territory + we had overhead resistance at the top of the range mentionned in 1) around 2725 and also R1 at 2733.
[i]Edit: Also,...
Hi Olivier,

I have done some change to my Stoct could you please confirm.

Tx
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  • #7,396
  • Nov 14, 2012 5:05am Nov 14, 2012 5:05am
I really want to go short on my beloved Gold.
Had a break down from the range, but proved to be a fakie
Another break down, but the stochs are such a mess that I'm gonna continue sitting on my hands.
If I look at the hourly charts, PA is all over the place.
I will wait for a good break and retest
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  • #7,397
  • Nov 14, 2012 5:07am Nov 14, 2012 5:07am
Quoting Gumrai
I don't know about you guys and gals, but I'm starting to think that I must have missed a month.
By that, I don't mean that I'm worried about being pregnant - that would make history.
What I mean is when the western markets start to wind down in preparation for the Christmas period. There are few good moves and mostly originate in The Asian sessions, because Asia does not have Christmas.
Also at that time of year, with lower liquidity in the markets, it becomes very difficult to analse PA and the better moves seem to come out of nowhere.
Yes....it's certainly difficult. I imagine that the EU problems and the close proximity of christmas is an issue.....and soon it will be the 'fiscal cliff' and the close(er) proximity to christmas issue as well.

What's driving the Yen lower is Noda wanting an early election.....lol.....before christmas!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,398
  • Nov 14, 2012 5:11am Nov 14, 2012 5:11am
Quoting jono717
Hi Olivier,

I have done some change to my Stoct could you please confirm.

Tx
That looks better and closer to mine but if you are new with using Stox like we do here, it is probably a good idea to have both stox lines showing so that you can see them crossing + as RJ has suggested, have the M15 stox in a separate window for extra clarity.
  • #7,399
  • Nov 14, 2012 5:18am Nov 14, 2012 5:18am
Quoting olivierforex
That looks better and closer to mine but if you are new with using Stox like we do here, it is probably a good idea to have both stox lines showing so that you can see them crossing + as RJ has suggested, have the M15 stox in a separate window for extra clarity.
Okay great will do the changes many thanks.

I caught the AU trade

Lol set tp at DP
  • #7,400
  • Nov 14, 2012 5:22am Nov 14, 2012 5:22am
Quoting olivierforex
That looks better and closer to mine but if you are new with using Stox like we do here, it is probably a good idea to have both stox lines showing so that you can see them crossing + as RJ has suggested, have the M15 stox in a separate window for extra clarity.
Here is the template with both the standard stoch and the mtf stoch set to m15. The mtf stoch indicator which of course is needed as well, is also attached.

I will re-upload the zip file in post #1 in a moment

Edit: I attached the wrong files......I will upload the correct ones in a moment

Edit 2: Correct files now attached
Attached File(s)
File Type: tpl genesis.tpl   24 KB | 713 downloads
File Type: mq4 #MTF Stochastic v2.0.mq4   6 KB | 766 downloads
Doing what you like is Freedom. Liking what you do is Happiness.
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