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Trading with Deadly Accuracy

  • #2,601
  • Nov 21, 2012 6:08am Nov 21, 2012 6:08am
Quoting Red Pirate
So break price is something like first sign of trend revers which could give me nice define low risk for trend reverse expectation if PA structure telling to us that.
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Red Pirate,

Something else to be aware of if you're going to play breakouts of TL which I remember Will saying very early on when I was learning TL breakouts is you want to see the level clearly BROKEN. I noticed on your example with the CADJPY the breakout of the TL is 20 pips or so. That could have easily been a false break and you could have seen price back below the line. I used to look for breaks of at least 50 pips to be a confirmed break and used to like to see some space form away from the TL before returning to give the entry.

J
  • #2,602
  • Nov 21, 2012 6:47am Nov 21, 2012 6:47am
Quoting JayMFX
Attachment

Red Pirate,

Something else to be aware of if you're going to play breakouts of TL which I remember Will saying very early on when I was learning TL breakouts is you want to see the level clearly BROKEN. I noticed on your example with the CADJPY the breakout of the TL is 20 pips or so. That could have easily been a false break and you could have seen price back below the line. I used to look for breaks of at least 50 pips to be a confirmed break and used to like to see some space form away from the TL before returning...
Thank you Jay.I am sure I writing some BS so apologize for that.I will write all this points down and will try keep in my mind.I hope in future will my posts more line up with wmd methodology .I am sure you laughing when I am writing all how I read this charts but this is my current knowledge.
  • #2,603
  • Nov 21, 2012 6:51am Nov 21, 2012 6:51am
Hm maybe another BS)
Darren so on your charts you will not have blue TL?If so why not?
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  • #2,604
  • Nov 21, 2012 7:32am Nov 21, 2012 7:32am
Quoting dazzdude
Red, Look at your pictures and then look at what I have drawn up.

Note, this is only an example. It's not, this is how it must be. The idea apply to double top, triple top, bull trap, etc. The idea as it that you need to look at the entire price structure, not just the trend line break.

d
My thoughts.
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  • #2,605
  • Nov 22, 2012 12:06am Nov 22, 2012 12:06am
Quoting Red Pirate
Thank you Jay.I am sure I writing some BS so apologize for that.I will write all this points down and will try keep in my mind.I hope in future will my posts more line up with wmd methodology .I am sure you laughing when I am writing all how I read this charts but this is my current knowledge.
No need to apologize and I can assure you that no one will be laughing at you. We all have to begin somewhere.

J
  • #2,606
  • Nov 22, 2012 2:32am Nov 22, 2012 2:32am
Practicing some pattern and PA structure on lower TF.
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  • #2,607
  • Nov 22, 2012 2:37am Nov 22, 2012 2:37am
Quoting JayMFX
No need to apologize and I can assure you that no one will be laughing at you. We all have to begin somewhere.

J
Thank you Jay.
  • #2,608
  • Nov 23, 2012 9:30am Nov 23, 2012 9:30am
Read it like a map, trade it like a Boss!!

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  • #2,609
  • Nov 23, 2012 12:09pm Nov 23, 2012 12:09pm
Pull back and swing it like a Boss!

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  • #2,610
  • Nov 24, 2012 5:23am Nov 24, 2012 5:23am
wmd

What do you think about taking short?? Does your trend line strategy apply to this case?
(please ignore the fibo and other stuff)

Thank you very much!
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  • #2,611
  • Nov 24, 2012 11:21am Nov 24, 2012 11:21am
The only cautionary note is that 2960 represents the yearly open price. Above it the yearly candle is bullish, below it the yearly candle is bearish.

An over thow and throw back on the down trending line would likely give best risk definition, unless ofcourse it holds from go.
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  • #2,612
  • Nov 26, 2012 3:56am Nov 26, 2012 3:56am
Quoting wmd
The only cautionary note is that 2960 represents the yearly open price. Above it the yearly candle is bullish, below it the yearly candle is bearish.

An over thow and throw back on the down trending line would likely give best risk definition, unless ofcourse it holds from go.
wmb
Thank you very much! I just subscribed this thread and registered with your website. Looking forward to your posting!
  • #2,613
  • Nov 26, 2012 7:08am Nov 26, 2012 7:08am
Quoting Red Pirate
Some Q's here.I need to study each subject(TL,TW,sine waves etc.) very close and testing them.I like to post here Darren's 10 tl's points and after reading I can clearly see I don't understand them in right way or rather say in logic way.
Red Pirate has raised a very important question , but not the one for which he actually wants an answer.
I hope you don't mind me butting into this thread ( I don't know how Will trades, so can't help you with SLs) , but in your diagram you have asked questions about an entry or trade being RIGHT or WRONG - which is something I can answer:

The outcome of a trade (a win or a loss) has nothing to do with whether the decision to take that trade was right or wrong.
Unless you really understand that this is so, you will be trading badly and based upon emotion.

It is always RIGHT to take every trade/setup which has an acceptable Stop Loss and meets your entry criteria.
In fact it is WRONG not to take such a trade.

Most people, to their cost, tend to ignore this fact - either alll the time, or when it suits them.
  • #2,614
  • Nov 26, 2012 8:28am Nov 26, 2012 8:28am
Quoting ianf0ster
Red Pirate has raised a very important question , but not the one for which he actually wants an answer.
I hope you don't mind me butting into this thread ( I don't know how Will trades, so can't help you with SLs) , but in your diagram you have asked questions about an entry or trade being RIGHT or WRONG - which is something I can answer:

The outcome of a trade (a win or a loss) has nothing to do with whether the decision to take that trade was right or wrong.
Unless you really understand that this is so, you will...
Hi Ian,and thank you for answear.
I think this is little bit misunderstanding which is b/c my English is poor.Question wasn't based if entry was right or wrong but rather say when/where I know I am wrong so where I should put my SL.What I found later on and how I understand.I have bias on which I can define my risk so there I need to put my SL.If my SL hit I need to change bias.
  • #2,615
  • Nov 29, 2012 4:09pm Nov 29, 2012 4:09pm
wmb

I think CADJPY may have a large downward break -- losing the momentum, making lower highs. According to your break-method, the price comes back to the origin of the break. Does it apply to this case?

Thank you!
Forexgogo
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  • #2,616
  • Nov 30, 2012 10:13am Nov 30, 2012 10:13am
LiveBlog! for trade note subs has been activated.

If you've been considering joining then there is no time better then the present.

From Jan/2013 monthly packages will no longer be available for new members.
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  • #2,617
  • Dec 2, 2012 2:10pm Dec 2, 2012 2:10pm
I will be presenting a Forex Market Briefing webinar at 10am Gmt Monday 3rd December.

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  • #2,618
  • Dec 3, 2012 12:18am Dec 3, 2012 12:18am
Learnt so much from this thread, now its time to test my understanding & skills....my 2 cents on gold chart for today. Tried to map it lets see its right or wrong. Please feel free to comment & let me know if I am wrong in any sense. Your feedback will be humbly accepted & will work on them.

Thanks

Edited : I have pending order at nose level but I will watch to short at cluster level.
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  • #2,619
  • Dec 3, 2012 5:26pm Dec 3, 2012 5:26pm
Quoting alex4xes
Learnt so much from this thread, now its time to test my understanding & skills....my 2 cents on gold chart for today. Tried to map it lets see its right or wrong. Please feel free to comment & let me know if I am wrong in any sense. Your feedback will be humbly accepted & will work on them.

Thanks

Edited : I have pending order at nose level but I will watch to short at cluster level.

Thinking very much in the right way.

Heres my map from last week.

Thinking that that 1730 has been played though.
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  • #2,620
  • Dec 3, 2012 11:41pm Dec 3, 2012 11:41pm
Thank you very much for the feedback Mr.WMD. It feels great to hear that my thought process is in align with your teaching. Thanks for teaching us such valuable lessons. God bless u !

Regards



Quoting wmd
Thinking very much in the right way.

Heres my map from last week.

Thinking that that 1730 has been played though.
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