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FM's Magic Formula Journal

  • #21
  • Apr 3, 2013 4:19am Apr 3, 2013 4:19am
Eur/Usd:


My 1, 3Hr and Day RSI's have all turned up.

This provides further evidence to the suggestion that the move down may be complete.

Looking at a 10m chart it appears that what I first labelled a w-x-y Structure may actually be a Leading Diagonal and I have re-labelled the chart thus.

I presume this becomes wave i of a larger 5 wave structure.


Eur/Usd 3 Hr Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.png Size: 70 KB
  • #22
  • Apr 4, 2013 8:52am Apr 4, 2013 8:52am
Eur/Usd:


Recent News events have caused rather a lot of short term volatility in which we saw by an extremely small margin a fresh low.

Looking at the short term time frames it is in a clear 5 wave structure allowing for an Ending Diagonal vC(A)

I have re-labelled the structure to account for that and look forward to a generally Bullish Move ahead which shall probably last a few weeks at least.

Eur/Usd 3 Hr Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eu3a.png Size: 68 KB
  • #23
  • Apr 5, 2013 7:48am Apr 5, 2013 7:48am
Eur/Usd:


Previous analysis appears to be proved correct.

It is likely that wave a/i shall complete soon at which time we are likely to see a 3 wave pull-back to form wave b/ii before a further Bullish Impulse for wave c/iii.


Eur/Usd 3 Hr Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eu3fri.png Size: 67 KB
  • #24
  • Apr 10, 2013 4:09pm Apr 10, 2013 4:09pm
Eur/Usd:


Wave a/i has continued.

It is difficult as yet to conclude that it is complete, and yet my 1 and 3Hr Indicators have turned south. I suspect that if it hasn't completed then we could see a further surge to completion which could see it go as high as the 50% level.

With the Japanese purchasing Euro Bonds and US Fundamentals weak I have to maintain an open mind on the matter.

We are likely then to see a 3 wave pull-back to form wave b/ii before a further Bullish Impulse for wave c/iii.


Eur/Usd 3 Hr Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.png Size: 71 KB
  • #25
  • Apr 16, 2013 11:51am Apr 16, 2013 11:51am
Eur/Usd:


Wave a has formed a w-x-y sub-wave iv, and is now in what I presume to be it final move.

We are likely then to see this complete around the 50% Fibo. Level before then a 3 wave (or complex) pull-back to form wave b/ii before a further Bullish Impulse for wave c/iii.


Eur/Usd 3 Hr Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 3.png Size: 70 KB
  • #26
  • Apr 17, 2013 12:46pm Apr 17, 2013 12:46pm
Eur/Usd:


My RSI worked wonders to show the move down in good timing.

Wave a appears to have completed as forecast.

The initial and intermediate waves of a/b appear complete.

I presume some consolidation and a further low to complete a, before the formation of a correction to form wave b/b

From the the corrective sequence of b/b, we can expect ave c/b(or2) down and when that is complete, we should be entering a Bullish Impulse for wave c/iii.


Eur/Usd 3 Hr Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eubb.png Size: 72 KB
  • #27
  • Apr 17, 2013 12:57pm Apr 17, 2013 12:57pm
Signature to be added:
  • #28
  • Apr 23, 2013 3:23am Apr 23, 2013 3:23am
Eur/Usd:


Previous analysis appears correct.

The 3 wave corrective sequence appears to be targeting circa 61.8% at approx. 1.2900


Eur/Usd 3 Hr Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 3.png Size: 75 KB
  • #29
  • Edited 9:02am Apr 24, 2013 6:22am | Edited 9:02am
Trade Explorer:


I have been trading for several years and recently made available one of my Trading Systems to the greater Trading Public.

Naturally, showing my own personal Account(s) is subject to a number of considerations including Confidentiality and Security while for the purposes of demonstration I wished to share some results rather than just the principle of the system on which they are based.

So, about two months ago I established a Demo Account with IBFX and started with a notional £100k with a view to being able to publish how I use my System to make reliable trades again and again.

This Thread now includes the Trade Explorer which includes Trades in respect of the Euro/Dollar posts I have made but for the absolute most part relies on the verification of my Highly and Finely Tuned RSI's across, 5m, 10m, 1hr, 3hr, Day and Month Time Frames.

Naturally, should You like to see them working in more detail please feel free to PM me.

David
  • #30
  • Apr 24, 2013 10:53am Apr 24, 2013 10:53am
Hi FM,

Awesome results! Divergence + PASR trading it seems, or maybe some extra "recipe" behind the trades. Great job! Well, coming to your thread, gives me the motivation to preservere and work harder.

Keep up the good work
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #31
  • Apr 24, 2013 11:18am Apr 24, 2013 11:18am
Quoting keroro0o0o
Hi FM, Awesome results! Divergence + PASR trading it seems, or maybe some extra "recipe" behind the trades. Great job! Well, coming to your thread, gives me the motivation to preservere and work harder. Keep up the good work
Thank You very much.... I will PM You the link to watch the Demo Vid ok?!
  • #32
  • Apr 24, 2013 12:06pm Apr 24, 2013 12:06pm
Hello

Pls witch platform you use ?

Pls pm me vid as well

Thanks
BROKENGLISH
  • #33
  • Apr 24, 2013 12:32pm Apr 24, 2013 12:32pm
Quoting recidiviste
Hello Pls witch platform you use ? Pls pm me vid as well Thanks
Hi,

I tried but You appear to not accept PM's.

Maybe You have to be Buddy?

You may mail me however and I can reply to that.
  • #34
  • Apr 24, 2013 9:57pm Apr 24, 2013 9:57pm
Hi Forex MAgic,

Seems that you have a good system, may i know how you place your stoploss and profit target? do you set a stoploss level, or manually close after bar close?
  • #35
  • Apr 25, 2013 2:05am Apr 25, 2013 2:05am
Quoting calvin1006
Hi Forex MAgic, Seems that you have a good system, may i know how you place your stoploss and profit target? do you set a stoploss level, or manually close after bar close?

I some times do not use a SL, it varies and often I consider other factors and expectations and possibly hedge instead.

Essentially the Trades are made according to the RSI's but I trade to include several time frames and so the Profit aspect is relative to each position taken and is often when I see the move exhausted and where there appears a contrary trade available.

I have a Video about it You want to see it let me know and I'll PM You the links.
  • #36
  • Edited 2:26am Apr 25, 2013 2:15am | Edited 2:26am
Quoting calvin1006
Hi Forex MAgic, Seems that you have a good system, may i know how you place your stoploss and profit target? do you set a stoploss level, or manually close after bar close?
Here is an example of a SL.

There is an Open Position now with Aud/Usd, and You can see it as I write in the Explorer above.

With Aud/Usd I saw the opportunity and traded it about 3 times inserting a SL with just a few pips profit once the pair had moved up but then the pair bounced back (You can see in my Closed Trades over the last few days).

This time there is a more significant move, and the SL is around the 61.8 Fibo Fan level to ensure some profit if things turn.

Meanwhile, the Chart below shows the RSI turn up, and I shall see where it begins to reverse on the lower TF charts and choose to close it then unless there is a sudden move which will be caught by the SL I suppose
Attached Image (click to enlarge)
Click to Enlarge Name: au3.png Size: 52 KB
  • #37
  • Apr 25, 2013 2:32am Apr 25, 2013 2:32am
Eur/Usd:


It is difficult to conclude that wave B is complete although it may be.

With Unemployment Claims announced later today in the US we may be able to verify that it is complete or not.

I have noted the possibility of a Triple Zig-Zag to complete it should that event be so.

If it is complete, we should see a reasonably substantial move up to form wave C.


Eur/Usd 3 Hr Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.png Size: 76 KB
  • #38
  • Apr 26, 2013 2:52am Apr 26, 2013 2:52am
Eur/Usd:


The wave to XX appears to be in 3 waves, while the "Goldman Sachs" drop appears to be an Impulse. I presume we have a further low to experience to form wave Z and complete B/2.


Eur/Usd 3 Hr Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.png Size: 74 KB
  • #39
  • Apr 26, 2013 12:48pm Apr 26, 2013 12:48pm
.


Such a messy day..... scalping a plenty but awaiting and awaiting opportunity.

Have a good week-end all !
  • #40
  • Apr 26, 2013 1:31pm Apr 26, 2013 1:31pm
.




It took me back to see that I posted over 700 pips this week, especially since I havn't traded much, and when I have it has mainly been on the shorter time frames.

Nevertheless, it serves to show the power of my RSI's across many time frames, and the larger ones I featured in my video about them...

So I thought it may be an idea to post the Video explaining my RSI's...

Here is:.


Inserted Video
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