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  • #10,481
  • Feb 28, 2013 4:47am Feb 28, 2013 4:47am
Nice trade!!

Do you enter on the break of the range? Do you look just the 1H set up or 15m as well?


thanks for help


Quoting tonny47
done for february out with 51 pips on this one
hope you all are doing well!
  • #10,482
  • Feb 28, 2013 4:47am Feb 28, 2013 4:47am
SS 3 is the Holy grail Forex world has been waiting for. You may not get 100% profit but its effectiveness is greater than 95%. Thanks to X-man the creator of this system and Phx who lightening it up and put a lot of efforts to making sure that the system remains simple. Thanks to everyone who has also contibuted signifcantly to this system. May God bless u all in Jesus name (Amen).
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #10,483
  • Feb 28, 2013 5:38am Feb 28, 2013 5:38am
hey Opemipo,

great to hear you like the system and doing well with it. it would be great learning for myself and others too if you post your trades you have taken, ideally with charts.

Quoting Opemipo
SS 3 is the Holy grail Forex world has been waiting for. You may not get 100% profit but its effectiveness is greater than 95%. Thanks to X-man the creator of this system and Phx who lightening it up and put a lot of efforts to making sure that the system remains simple. Thanks to everyone who has also contibuted signifcantly to this system. May God bless u all in Jesus name (Amen).
  • #10,484
  • Feb 28, 2013 5:49am Feb 28, 2013 5:49am
AU 28 Feb Lo trade:

Trade entry using the Frankie H1 pullback candle. Trade still in progress not gone very far now waiting for NYO.
Attached Image (click to enlarge)
Click to Enlarge Name: AU 28 feb H1 trade LO 28-2-2013 7-45-15 PM.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,485
  • Feb 28, 2013 6:05am Feb 28, 2013 6:05am
emmanuel7788,

Do you regularly use last day's fibs to determine entries?

Thanks!,
M.
Remember I'm a newbie!
  • #10,486
  • Feb 28, 2013 6:20am Feb 28, 2013 6:20am
Quoting mierzyk
emmanuel7788,

Do you regularly use last day's fibs to determine entries?

Thanks!,
M.
Yes, I use them and there must be CONFLUENCE of these Fib levels with other S&R, like for example the 200EMA, BRN, RN, historical S&R.
Not forgetting also the Prev Week Fib comes into play during the week price movements when I trade 4H.

The market type in which we trade in is very important. In a regular ranging market condition, you will find i traday reversal near the Prev D Fib 127% and 161%.
But when there is breakout and trending, these levels are easily broken.

Trade Well!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,487
  • Feb 28, 2013 7:04am Feb 28, 2013 7:04am
Thankyou,

That's more detailed answer that I'd expect. Some backtesting incoming in next week.

Cheers,
M.
Remember I'm a newbie!
  • #10,488
  • Feb 28, 2013 7:33am Feb 28, 2013 7:33am
i know i said no more trades but took the same trade as you Emmanuel but bit later, pretty much at the same price as you. my stop is at break even and looking to get about 30 pips on this one. its moving sooooo slow though

Quoting emmanuel7788
AU 28 Feb Lo trade:

Trade entry using the Frankie H1 pullback candle. Trade still in progress not gone very far now waiting for NYO.
  • #10,489
  • Feb 28, 2013 8:05am Feb 28, 2013 8:05am
Quoting tonny47
i know i said no more trades but took the same trade as you Emmanuel but bit later, pretty much at the same price as you. my stop is at break even and looking to get about 30 pips on this one. its moving sooooo slow though

that H1 pullback candle is just too tempting, ...right?

but H4 and D looks pretty too.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,490
  • Feb 28, 2013 10:56am Feb 28, 2013 10:56am
delicious 30 pips
do you mind sharing how you exited the trade if you exited already?


Quoting emmanuel7788
that H1 pullback candle is just too tempting, ...right?

but H4 and D looks pretty too.
  • #10,491
  • Edited 4:44pm Feb 28, 2013 3:54pm | Edited 4:44pm
Quoting tonny47
delicious 30 pips
do you mind sharing how you exited the trade if you exited already?
Hi Tonny,

Yes, I still have open positions.
Partial exited some at +30pps and BE remaining positions.
The H4 down move is still intact and is now testing the Prev D Fib 50%.
Target TP is Feb 26 Low...that spike candle before the move up.
If the H4 trend continues, then price should test yesterday Low and maybe Fib-e 127% would be another likley target.
Let's see what happen when ASX open in 10 mins.

Trade Well.
Attached Image (click to enlarge)
Click to Enlarge Name: AU 28 Feb final TP 1-3-2013 5-44-51 AM.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,492
  • Feb 28, 2013 6:43pm Feb 28, 2013 6:43pm
AU trade management update:

With Tokyo open, I decided to move my stop to protect another +25pips and push TP further down to the Prev D fib-e 127%.

Let market decide.
Attached Image (click to enlarge)
Click to Enlarge Name: AU 1 Mar trade management 1-3-2013 8-00-37 AM.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,493
  • Feb 28, 2013 10:50pm Feb 28, 2013 10:50pm
Quoting Phx62
Two trades today......the 1st taken at LO following a long pullback of the FO candle.....hit TP. The 2nd trade taken following a retest of the high of the day and a pullback on the entry candle.....the trade was taken based on price action (the pullback) and not a cross of the TDI....I did analyse TDI before entering the trade and saw the yellow MBL was sloping down and below the 50 line and the red and green were below the MBL, which confirmed my decision to enter short. Lots of volitility on this pair right now, so 100 or 150 pip TP's are not...

Dear Phx62

After your taking profit, next candle (3rd Candle after LO) also seems to be a Pull Back..
Pl explain what reasons that you neglect as a possible short entry..

Do we need clear Up or Down trend before Pull back Candle to pull the trigger...

Thanx In advance
Your invaluable explanation help a lot to learn price action.
80% effort, 20% luck
  • #10,494
  • Mar 1, 2013 3:35am Mar 1, 2013 3:35am
nice, i assume you are still in a trade unless you moved profit target

Quoting emmanuel7788
AU trade management update:

With Tokyo open, I decided to move my stop to protect another +25pips and push TP further down to the Prev D fib-e 127%.

Let market decide.
  • #10,495
  • Mar 1, 2013 3:37am Mar 1, 2013 3:37am
Quoting tonny47
nice, i assume you are still in a trade unless you moved profit target
yup, .. now running in +50pips., jumping stop set at 25pips.
also shorted EU with that Frankie pullback candle....the Phx62 way.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Mar LO trade 1-3-2013 5-38-20 PM.png Size: 21 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,496
  • Mar 1, 2013 3:42am Mar 1, 2013 3:42am
this is why i dont like to watch charts all the time. went short gbpusd at about london open, PMI numbers helped, yet i didnt even let it run to my TP. took 40 pips but there was a lot more to take

also have a short eujpy trade currently up over 20 pips and SL at break even but not too much hopes on this one
Attached Image (click to enlarge)
Click to Enlarge Name: 1 march short gbpusd.gif Size: 24 KB
  • #10,497
  • Mar 1, 2013 3:46am Mar 1, 2013 3:46am
Quoting emmanuel7788
yup, .. now running in +50pips., jumping stop set at 25pips.
also shorted EU with that Frankie pullback candle....the Phx62 way.
  • #10,498
  • Mar 1, 2013 5:52am Mar 1, 2013 5:52am
EU 1 Mar LO trade update:

Took partial profit +50pips. Remaining position now protected at BE+2pips.
Jumping stop set at 30pips.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Mar LO trade update 1-3-2013 7-47-40 PM.png Size: 26 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,499
  • Mar 1, 2013 6:01am Mar 1, 2013 6:01am
AU 28 Feb LO trade update:

This trade open since yesterday, now running with Jumping Stop.
Remaining positions protect at +50pips.
..."Let Profit Run"
Attached Image (click to enlarge)
Click to Enlarge Name: AU 28 Feb LO Trade update 1-3-2013 7-54-17 PM.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,500
  • Mar 1, 2013 6:26am Mar 1, 2013 6:26am
Quoting emmanuel7788
EU 1 Mar LO trade update:

Took partial profit +50pips. Remaining position now protected at BE+2pips.
Jumping stop set at 30pips.

Am at work so not much time to post my trade. Took profits exactly where you did (thanks for yesterday's lesson). I entered lower though, after breaking down through Asian low. 1-1 R-R is the best newbie like me can do

Gratz for the trade,
M.
Remember I'm a newbie!
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