Attachments: The Student Handbook

The Student Handbook

#961
Jan 8, 2013 9:40pm Jan 8, 2013 9:40pm

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

Yeah the RSI is stuck between 40 and 50, which tells me the down move isn't finished yet. I still believe that 3056 is a good area to watch. If one wanted to be cautious, a break of the S1 (3045) may present a scalping opportunity at very least

Quoting iqyu5an

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i got one already... need another cup of coffee dude hahhaaha

this what i see .reff to your last post. just imho

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#962
Edited 10:02pm Jan 8, 2013 9:43pm | Edited 10:02pm

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

personally... i start seeing divergence using your AO

EDIT : not divergence ............... am sleepy. sorry

Quoting 9er

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Yeah the RSI is stuck between 40 and 50, which tells me the down move isn't finished yet. I still believe that 3056 is a good area to watch. If one wanted to be cautious, a break of the S1 (3045) may present a scalping opportunity at very least

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#963
Jan 8, 2013 9:54pm Jan 8, 2013 9:54pm

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

On the 1H? The way I see the AO is that price and AO are in agreement. The way I understand the AO, When AO is below the zero line and price is moving down (forming new lows) the AO should also form new lows. Divergence occurs when price forms a new low the AO does not.

I suppose this could be speculated, but in my opinion price and AO are too sideways at the moment. I stick to the RSI when this happens. RSI hasn't touched or even looked at the 50 since 1400 GMT yesterday.

Quoting iqyu5an

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personally... i start seeing divergence using your AO

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#964
Jan 8, 2013 10:01pm Jan 8, 2013 10:01pm

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

upsssss sorry... my mistake !!! ... yap not divergence. i really need more coffee

this is what i mean i added lines on the chart ...( attached )

Quoting 9er

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On the 1H? The way I see the AO is that price and AO are in agreement. The way I understand the AO, When AO is below the zero line and price is moving down (forming new lows) the AO should also form new lows. Divergence occurs when price forms a new low the AO does not.

I suppose this could be speculated, but in my opinion price and AO are too sideways at the moment. I stick to the RSI when this happens. RSI hasn't touched or even looked at the 50 since 1400 GMT yesterday.

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Attached Image

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#965
Jan 8, 2013 10:36pm Jan 8, 2013 10:36pm

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

See? I told you coffee is the most important tool! Yeah I see it now. That lower trend line, I'd be willing to bet it corresponds to the 3056 area!

Quoting iqyu5an

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upsssss sorry... my mistake !!! ... yap not divergence. i really need more coffee

this is what i mean i added lines on the chart ...( attached )

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#966
Jan 8, 2013 11:16pm Jan 8, 2013 11:16pm

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

I'm gonna retain the conch and continue on my soapbox rant. I will re-attach and reiterate the importance of pattern recognition. Please reference the attached chart.

The inverted hammer (reference page 3 of attached word document) resulted in a 112 pip move, the RSI keeps you in this trade through every leg of the upward sub-wave.

Nothing complex, just a simple inverted hammer staring us all in the face, screaming "TRADE ME!". Did anyone see it? I saw it, but got caught up in other peoples speculation. It's simple, it's there and it is SCREAMING at us!

Ok so next, the fact that the RSI pushed above the 50 and went sideways was our que to look for a signal.

Enter the Doji (reference page 3 of the attachment) - so far 67 pips; RSI at 44, price approaching lower trend line. If you were to have entered at the bottom of the Doji your stop would be safe at 3082, you would have +20 locked in and waiting for the next down move.

My point is - why trade a system with complex rules and indicators that serve to only narrow your vision? The basics, pattern recognition, Gartley (for waves) and Bill Williams (for human chaos) is ALL you need. Everything else is NOISE that narrows your vision.

We fail because we need simplicity in the forex. We fail because we NEVER stick with what works, with what is time tested and proven over many, many years.

Clutter and noise = guaranteed failure

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Attached File(s)

Charts Expounded.docx 242 KB | 296 downloads

#967
Jan 9, 2013 12:10am Jan 9, 2013 12:10am

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

how beauty she dances...

Quoting iqyu5an

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waiting for long setup - gu
http://www.forexfactory.com/attachme...1&d=1357630817

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#968
Jan 9, 2013 12:57am Jan 9, 2013 12:57am

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

Very nice!

Quoting iqyu5an

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how beauty she dances...

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#969
Jan 9, 2013 1:40am Jan 9, 2013 1:40am

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

The indi hasn't painted it, but do I see a 5.0 Butterfly? I have a sell stop at 3062

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#970
Jan 9, 2013 2:01am Jan 9, 2013 2:01am

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

not sure also... but for me ..for 5:0 pattern ... PA should have a bit lower ( close around +/- last week low ) first.
http://www.trade-forex-harmonic-patt...%20pattern.gif
hmmm but that;s just imho

Quoting 9er

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The indi hasn't painted it, but do I see a 5.0 Butterfly? I have a sell stop at 3062

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#971
Jan 9, 2013 2:28am Jan 9, 2013 2:28am

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

That is perfect and you beat me to the punch. Nicely spotted. I actually was getting ready to edit my last post in that the 3-4-5 points on the 5.0 may actually be A,B & C, making the 127 a pretty close target.

Price appears ready to go north anyway!

#972
Jan 9, 2013 2:36am Jan 9, 2013 2:36am

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

buddy,

did u ever read about BAMM ? have u ever traded with it ? that's quite interesting.. we could trade from C to D and D to B .

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#973
Jan 9, 2013 3:20am Jan 9, 2013 3:20am

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

Never heard of it until you mentioned it - send me a PM with the details

Quoting iqyu5an

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buddy,

did u ever read about BAMM ? have u ever traded with it ? that's quite interesting.. we could trade from C to D and D to B .

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#974
Jan 9, 2013 3:21am Jan 9, 2013 3:21am

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

It appears for now that price is respecting the lower trend line

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#975
Jan 9, 2013 3:29am Jan 9, 2013 3:29am

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

PM u already. Actually already post it here too ( just click the hyperlink )

Quoting iqyu5an

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sometimes 5:0 pattern is early sign that market will try re testing r/s ( A poin in your chart ). once failed to break A, she will go againts and break B point to D ( to form bearish BAT / Butterfly/ Crab ). but that's not a must.

Harmonian...called this BAMM schema. Bat Action Magnet Move and shark - 5:0 pattern - BAMM

imho

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Quoting 9er

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Never heard of it until you mentioned it - send me a PM with the details

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not euphoria follower

#976
Jan 9, 2013 4:10am Jan 9, 2013 4:10am

9er
| Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts

Looks interesting. I'll look into it more, seems pretty new and at first glance seems to break every rule known to Gartley as far as ABCD patterns go. Maybe if they numbered the points rather than letter them.

Looks promising but goes against everything engrained in mind in what I know a butterfly to look like, whether it be a 5.0, bear or bull butterfly.

#977
Jan 9, 2013 5:28am Jan 9, 2013 5:28am