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Another simple system - Time-Frame 15

  • #15,641
  • Nov 26, 2012 4:35am Nov 26, 2012 4:35am
Quoting loveevery1
I wanted someone to post this trade....thankfully you did....

Now answer why it dint work?
dear Arjun, was the question answered by resistance?
  • #15,642
  • Nov 26, 2012 4:39am Nov 26, 2012 4:39am
EURUSD AND EURJPY

Learning to sit on my hands and wait.




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  • #15,643
  • Nov 26, 2012 4:41am Nov 26, 2012 4:41am
Davit

I believe open price is set to london. Possibly due to historic financial centre, but also GMT (Greenich Mean time which is global standard which makes sense.

I think that you can check as the 4 hour candle open should align to the London open (which I thinnk it does in my calculation)

I may be wrong, but this is my understanding
cheers
P

Quoting Davit
Thanks for explanation Arjun
Still nobody answered basic question which open price is considered industry standard.
London?
NY?
Sidney?
Tokyo?
This effects ADR,Pivots,Weekly monthly HL
I am still baffled that I can't get an answer.
Regards
  • #15,644
  • Nov 26, 2012 4:50am Nov 26, 2012 4:50am
Tokyo or New York is the standard, use whichever pleases you.

I use Tokyo just because their trading day officially begins when its 000 GMT


Quoting Davit
Thanks for explanation Arjun
Still nobody answered basic question which open price is considered industry standard.
London?
NY?
Sidney?
Tokyo?
This effects ADR,Pivots,Weekly monthly HL
I am still baffled that I can't get an answer.
Regards
  • #15,645
  • Nov 26, 2012 4:54am Nov 26, 2012 4:54am
AJ TL retest..now acting like resistance..

chart below..

Ciara


my two GU angels got tagged..Contributed 8+3 pips=11 @GU trade aback into banksters banksters pockets...God bless the two brothers, thx for saving me
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Ideas shape the course of history
  • #15,646
  • Nov 26, 2012 5:03am Nov 26, 2012 5:03am
Quoting loveevery1
I wanted someone to post this trade....thankfully you did....

Now answer why it dint work?
Hi - this is my view based on the long i took in the morning prior to the trade taken by tonny47

The euro long taken by me based on the TL break and close above 10ema, 50ema, plus pin bounce from daily piv and fib-r 38.2. This on 15min and hourly.

Risk on that trade was immediate resistance above. Also the fact that daily 10ema far from pa.

The entry i took provided low risk in terms of Sl placement if the resistance was difficult to break. Also on a TL and 10ema & 50ema close above - usually get a implusive move - hence thats usually my first TP or full pofit take.

Inital move was hit wth quick selling, see pin back lower. This created indicision near that area (actually open). Rather then a smooth trend - move became whippy. Also the pin entry was taken far from 10ema.
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  • #15,647
  • Nov 26, 2012 5:04am Nov 26, 2012 5:04am
Quoting Gibril
SECRET OF THINKING

Most other thread anywhere will "teach you" and you will "learn" from their method. They are prime examples of "Thinking Outside the Box"

This is the only thread that really make you "think" by using 'logic" with minimum indicators to "guide" you. Arjun method is prime example of " [color=red][b]Instead of thinking outside the box,...
lol yeah this was i really started to understand the 10ema .
the 10ema is the key.
Thats all we will need to make pips.
1 is everything and everything is 1
X-man the legendary conqueror of markets
  • #15,648
  • Nov 26, 2012 5:06am Nov 26, 2012 5:06am
Quoting afos
it it....

RN resistance at 12975 and all the reasons this morning posts by vantage and other stated.

( fib previous day and 4h bull candle (at 14.00 gmt on my charts) , euro news comming, banks filling orders and of course the asia session low magnet)

hope answer is somewhere in here.
hello Afos,

there was no news coming out as per forexfactory calendar, RN is 25 pips away. I am aiming only for 10-12 pips so shouldnt be a problem. although i remember some post saying that Arjun is taking 95% of trades away from RN and with 20 pips away from RN if i am not mistaken.

still not sure what the answer is though, just my thoughts
  • #15,649
  • Nov 26, 2012 5:07am Nov 26, 2012 5:07am
EUR

I see the Euro today s a very interesting case study, to FIB or not to FIB ! :-)

I have a great deal of respect for Emm's great trading and fib techniques (and as a former swing trader I have a great deal of belief in Fib numbers and extns) but I am trying to re-interpret the world soley throughArjun teaching and Lovebee language :-)

IMO the Eur today has held the RN extremely well (and note low to the 10MA 4 hrly). so even though one might except a fib retracement, is it a case of less is more ?

So I got in on the hard test of RN (and 10MA 4 hr and took scalp (not a lot of momentum and resist near), then in againon second retest and ajjun candle. Hourly pin to RN is supportive. Maybe it will work sideways until 50MA catches up. Will it fib or not! BTW the 43 low is a perfect 0.382 of the last runup if you are so inclined :-)
P
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  • #15,650
  • Nov 26, 2012 5:16am Nov 26, 2012 5:16am
Quoting Davit
Thanks for explanation Arjun
Still nobody answered basic question which open price is considered industry standard.
London?
NY?
Sidney?
Tokyo?
This effects ADR,Pivots,Weekly monthly HL
I am still baffled that I can't get an answer.
Regards

Hi Davit,

Bit of a coin toss, generally its 17.00 est or GMT.

Many banks, funds, etc consider NY EOD (17.00est) for their calculations etc.
  • #15,651
  • Nov 26, 2012 5:16am Nov 26, 2012 5:16am
Quoting Davit
Can someone answer me seriously which Open price is measured as "daily open"
I know every broker is different but what is the overall majority standard.
London ?
NY?
Tokyo?
Sidney?

This is critical to me as far as ADR numbers being correct and Price movement from point A to B
Thanks
London open for the UK trading day.
  • #15,652
  • Nov 26, 2012 5:19am Nov 26, 2012 5:19am
Quoting aryary
Hi Davit,

Bit of a coin toss, generally its 17.00 est or GMT.

Many banks, funds, etc consider NY EOD (17.00est) for their calculations etc.
This is what I assumed and I have all my chart info based on it.It makes sense.
Thanks for confirming it.
In trading, you have to be defensive and aggressive at the same time
  • #15,653
  • Nov 26, 2012 5:27am Nov 26, 2012 5:27am
Quoting tonny47
this kind of trades is killing me! entered long eur/usd on these pinbars to get stopped out. not sure how to avoid these... audusd was something similar but there was more resistance in a way.
anybody else took the same trade? any comments appreciated!
If I recall there is a major resistance level going back Jan-Apr this year, a W pivot and a D pivot 1.2979. Price already rejected 1.2980 once this morning.

Quite likely just one of those days for whatever reason Lon open does very little and waits for US volume. Mrs V and I had no trades this am until an EJ buy 106.35-ish a few minutes ago. We specifically left that EUR buy because of a large upper wick on 1hr and we missed the 'potential' buy at the bottom of move.
  • #15,654
  • Nov 26, 2012 5:38am Nov 26, 2012 5:38am
Quoting aryary
EUR/USD: +19
GBP/USD: b/e
GBP/JPY: +25
GBP/JPY: +29
AUD/JPY: +13

euro & cable - TL break and close above 50ema & 10ema

gbp/jpy & aud/jpy - range trades between 50ema & 200ema (narrow range, lower bias on HTF)

gbp/jpy - 200ema break and retest trade as usual!
Good evening brother aryary.

Firstly i would like to congratulate you on your magnificent trades. You nail them every time. I religiously follow all your posts.
Your chart setup is first class. Even without your written dialogue,someone can still study your charts and learn so much from them.

May i ask, from your experience, what is a good number of monitors to setup in a trading room and what size do you recommend them to be.
Especially if you follow half a dozen currency pairs, with different timeframes.
I am establishing a home setup, where there will not be too much flicking from one monitor to another, to allow me to focus more on the trading.
Any other brother or sister that might give their experiences.
I don't want to steer too much from the core thread.
Any input is greatly appreciated.

Steve.
  • #15,655
  • Nov 26, 2012 5:47am Nov 26, 2012 5:47am
Quoting Vantage
If I recall there is a major resistance level going back Jan-Apr this year, a W pivot and a D pivot 1.2979. Price already rejected 1.2980 once this morning.

Quite likely just one of those days for whatever reason Lon open does very little and waits for US volume. Mrs V and I had no trades this am until an EJ buy 106.35-ish a few minutes ago. We specifically left that EUR buy because of a large upper wick on 1hr and we missed the 'potential' buy at the bottom of move.
If this EUR reaction lower from that key resistance level is all there is, then I'll bet (well trade) that the 1.30 level will fail and we will move higher. Such a key level, such a small reaction lower, doesn't make sense.

Unfortunately sometimes there is a bounce that takes you out of such trades (EUR buy around 1.2977) only for a later very similar trade to work out. I think the same thing happened with eur and ej on Fri. London trades failed only for US trades to work. After some upper wicks on Fri morning a few hours wait and a nice trade unfolded.

If you are seeing a confluence of potential warning signals leave the trade. A missed opportunity is better than a loss. See how often another hour or two makes things a lot clearer. Having left the trade for valid reasons you NEVER beat yourself up if it then screams away in the hoped for direction.
  • #15,656
  • Nov 26, 2012 5:51am Nov 26, 2012 5:51am
Quoting itrade44
Good evening brother aryary.

Firstly i would like to congratulate you on your magnificent trades. You nail them every time. I religiously follow all your posts.
Your chart setup is first class. Even without your written dialogue,someone can still study your charts and learn so much from them.

May i ask, from your experience, what is a good number of monitors to setup in a trading room and what size do you recommend them to be.
Especially if you follow half a dozen currency pairs, with different timeframes.
I am establishing a home setup,...
Yes aryary seems to be a freak of nature (mean that in the nicest possible way).

We had 4 monitors and moved down to 2. 4hr, 1hr and 15 min charts for gu, eur and ej. Being of limited intelligence we struggle to monitor the millions of currencies that some do. We just feel that if jpy is moving ej will do the job for us. GU and EUR obvious choices.
  • #15,657
  • Nov 26, 2012 5:57am Nov 26, 2012 5:57am
Quoting Vantage
If I recall there is a major resistance level going back Jan-Apr this year, a W pivot and a D pivot 1.2979. Price already rejected 1.2980 once this morning.

Quite likely just one of those days for whatever reason Lon open does very little and waits for US volume. Mrs V and I had no trades this am until an EJ buy 106.35-ish a few minutes ago. We specifically left that EUR buy because of a large upper wick on 1hr and we missed the 'potential' buy at the bottom of move.
ok, thanks for the info
  • #15,658
  • Nov 26, 2012 6:05am Nov 26, 2012 6:05am
Quoting Vantage
Yes aryary seems to be a freak of nature (mean that in the nicest possible way).

We had 4 monitors and moved down to 2. 4hr, 1hr and 15 min charts for gu, eur and ej. Being of limited intelligence we struggle to monitor the millions of currencies that some do. We just feel that if jpy is moving ej will do the job for us. GU and EUR obvious choices.
Vantage, thank you for your reply.

you have a nice pick of the bunch for currency pairs. I also have a soft spot for the AUD during Asian session.
But as you say, some of us are mere mortals.lol!!!

Thank you friend.
Steve
  • #15,659
  • Nov 26, 2012 6:18am Nov 26, 2012 6:18am
Quoting loveevery1
I wanted someone to post this trade....thankfully you did....

Now answer why it dint work?
Dear Master Arjun,
This AU trade in fact is very similar to what I have asked for help in the following post someday ago.
http://www.forexfactory.com/showthre...53#post6206153

As at my Lovebees' level, I'm dumb to explain why they have failed. But, when backtesting I see more winning trades than losing trades. Therefore, I just close my eyes to enter the trade when I see Arjun candles.

Maybe that's the wrong attitude. Please correct me!
Accept as it is being!
  • #15,660
  • Edited 6:31am Nov 26, 2012 6:20am | Edited 6:31am
WOW!

when I last sign-off from FF,
it was Page 1039 ppost 15,574
now it is Page 1046 post 15,677

103 pages in 6 hours... 103 posts not pages...
Now I must read all 103 posts (edit) of good stuff.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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