Third Screen Strategy - Dr. Alexander Elder | Page 25 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #481
  • Apr 8, 2013 12:02am Apr 8, 2013 12:02am
Quoting Fishcoo
AUDNZD looks like a very nice trade.Anyone who trade it ?I just wait for H1 show "over bought"and open a short position.The weekly and daily trend also showed bearlish very clearly. {image} {image} {image}
Looks like a perfect trade setup FishCoo! Go for it!
  • #482
  • Apr 8, 2013 12:16am Apr 8, 2013 12:16am
EUR/AUD

Weekly - Bullish Engulfing Candle at Support (signals a potential trend reversal using PASR)

Daily - MACD is UP

H1 - Williams % is almost Over Sold

Should be a good BUY signal very soon for EUR/AUD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURAUD_-_Weekly_(4-7)_001.png Size: 112 KB
Click to Enlarge Name: EURAUD_-_Daily_(4-7)_001.png Size: 112 KB
Click to Enlarge Name: EURAUD_-_H1_(4-7).png Size: 108 KB
  • #483
  • Apr 8, 2013 12:17am Apr 8, 2013 12:17am
Quoting 100PipsADay
Very nice! Now your account looks like it is in profit since March 18th and are ready to start making some nice gains this week as trend moves in our favor.
If all of my current open JPY positions reach their TP targets I will be in profit overall(maybe 1000+ pips),Although many of JPY corss positions hited SL on Thurday last week. Thanks again for your powerful Strategy .
  • #484
  • Apr 8, 2013 12:20am Apr 8, 2013 12:20am
Here is my current Bias for most frequently traded pairs based off a number of factors.

Weekly, Daily, Open Position, & Overall Bias For Our Most Frequently Traded Pairs

AUD/JPY:
Weekly - Up
Daily - Up
Open Positions - Up
Overall - Up

CAD/JPY:
Weekly - Up
Daily - Up
Open Positions - Up
Overall - Up

NZD/JPY:
Weekly - Up
Daily - Up
Open Positions - Up
Overall - Up

GBP/AUD:
Weekly - Up
Daily - Up
Open Positions - Up
Overall - Up

EUR/AUD:
Weekly - Up
Daily - Up
Open Positions - Down
Overall - Up

EUR/CAD:
Weekly - Down
Daily - Up
Open Positions - Up
Overall - Up

EUR/USD:
Weekly - Down
Daily - Up
Open Positions - Up
Overall - Up

AUD/NZD:
Weekly - Down
Daily - Down
Open Positions - Down
Overall - Down

GBP/USD:
Weekly - Down
Daily - Up
Open Positions - Flat
Overall - Up

NZD/USD:
Weekly - Flat
Daily - Up
Open Positions - Up
Overall - Flat

AUD/USD:
Weekly - Flat
Daily - Down
Open Positions - Down
Overall - Down
  • #485
  • Apr 8, 2013 2:36am Apr 8, 2013 2:36am
Got one EUR/CAD and EUR/USD long position per Third Screen rules.

Current Open Positions
Attached Image (click to enlarge)
Click to Enlarge Name: Current_Opsn_Positions.png Size: 160 KB
  • #486
  • Apr 8, 2013 2:39am Apr 8, 2013 2:39am
Immediately after posting two USD/JPY longs hit their TP targets.
Attached Image (click to enlarge)
Click to Enlarge Name: closed.png Size: 48 KB
  • #487
  • Apr 8, 2013 3:21am Apr 8, 2013 3:21am
Quoting 100PipsADay
Here is my current Bias for most frequently traded pairs based off a number of factors. Weekly, Daily, Open Position, & Overall Bias For Our Most Frequently Traded Pairs AUD/JPY: Weekly - Up Daily - Up Open Positions - Up Overall - Up CAD/JPY: Weekly - Up Daily - Up Open Positions - Up Overall - Up NZD/JPY: Weekly - Up Daily - Up Open Positions - Up Overall - Up GBP/AUD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/AUD: Weekly - Up Daily - Up Open Positions - Down Overall - Up EUR/CAD: Weekly - Down Daily - Up Open Positions - Up...
Good job 100PipsADay. It should help us to open positions easily. Thank you very much.
KISS - Keep It Simple Smart !!!!
  • #488
  • Apr 8, 2013 3:25am Apr 8, 2013 3:25am
Quoting khaled_ctg
Good job 100PipsADay. It should help us to open positions easily. Thank you very much.
No problem Khaled.

I want to clarify real quick to everybody that the "Weekly" bias is not necessarily being in a down trend only. I may use Price Action (candle formation) at weekly support levels which can help us to identify potential reversals.

For example, the weekly bullish engulfing candle on EUR/AUD is telling me that we are going to be moving higher in the coming weeks. Also, GBP/USD with a weekly close over a fairly significant level of resistance.

NZD/USD and AUD/USD weekly charts are obviously ranging so I would put "flat" for the weekly bias.

Hope this helps!
  • #489
  • Edited 4:46am Apr 8, 2013 3:35am | Edited 4:46am
Just open a Long position for GBP/USD when I found H1 %R in Over sold area.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.JPG Size: 49 KB
KISS - Keep It Simple Smart !!!!
  • #490
  • Apr 8, 2013 5:04am Apr 8, 2013 5:04am
Quoting 100PipsADay
No problem Khaled. I want to clarify real quick to everybody that the "Weekly" bias is not necessarily being in a down trend only. I may use Price Action (candle formation) at weekly support levels which can help us to identify potential reversals. For example, the weekly bullish engulfing candle on EUR/AUD is telling me that we are going to be moving higher in the coming weeks. Also, GBP/USD with a weekly close over a fairly significant level of resistance. NZD/USD and AUD/USD weekly charts are obviously ranging so I would put "flat" for the...


yes eur/aud is a good one. wait for williams to be oversold. my brokers spread currently stands at 6 pips on this one.
  • #491
  • Edited 6:25am Apr 8, 2013 6:12am | Edited 6:25am
Quoting 100PipsADay
Here is my current Bias for most frequently traded pairs based off a number of factors. Weekly, Daily, Open Position, & Overall Bias For Our Most Frequently Traded Pairs AUD/JPY: Weekly - Up Daily - Up Open Positions - Up Overall - Up CAD/JPY: Weekly - Up Daily - Up Open Positions - Up Overall - Up NZD/JPY: Weekly - Up Daily - Up Open Positions - Up Overall - Up GBP/AUD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/AUD: Weekly - Up Daily - Up Open Positions - Down Overall - Up EUR/CAD: Weekly - Down Daily - Up Open Positions - Up...
Thx for updating pippy. I'm not yet ready to buy euros except against jpy. Still waiting to re enter long on jpy crosses. No retrace yet.
  • #492
  • Apr 8, 2013 8:57am Apr 8, 2013 8:57am
Add positions on GBPJPY USDJPY CHFJPY right now.
  • #493
  • Apr 8, 2013 10:04am Apr 8, 2013 10:04am
1st Closed positions

2nd Open positions

Attached Image


Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 62 KB
  • #494
  • Apr 8, 2013 11:46am Apr 8, 2013 11:46am
Quoting Fishcoo
1st Closed positions 2nd Open positions {image} {image}
Cool !!!!
KISS - Keep It Simple Smart !!!!
  • #495
  • Apr 8, 2013 12:11pm Apr 8, 2013 12:11pm
Just woke up and it looks like everybody is having a great day so far!

I'm going to take care of a few things this morning before posting trade analysis as well as closed / current positions
  • #496
  • Apr 8, 2013 12:37pm Apr 8, 2013 12:37pm
Below are 3 charts:

1st Chart: Recently Closed Positions

2nd Chart: Current Open Positions

3rd Chart: Total Profit & Loss Since March 2013


As you can see I am currently up over 2,000 pips from Closed Trading and have 2,500 Pips Floating Profit.

Does anybody know of a better system to produce these kinds of pips?

**I've been seeing other traders experiencing similar results to mine, congratulations and keep up the good work. Simple & Powerful
Attached Image(s) (click to enlarge)
Click to Enlarge Name: closes.png Size: 60 KB
Click to Enlarge Name: floating.png Size: 145 KB
Click to Enlarge Name: total_pnl_.png Size: 125 KB
  • #497
  • Apr 8, 2013 1:25pm Apr 8, 2013 1:25pm
Hi 100Pips,

First off - I've been reading some of the forums for a little while and I gotta give you massive props for all the work that you have done. I'm only a couple years younger than you, but I definitely look up to you and hope to see some obvious success soon.

I've been reading this thread as well as the recommended reading (PASR + summary of Elder's work...I have an order for Elder's Trading for a Living coming my way soon), and have taken a couple small intraday trades so far today utilizing the W%, MACD, (possibly poorly-drawn) Fibo Retracements, Pivot Points and Bollinger Bands to take into account the Three Screen Strategy as well as PASR, though I know I should be holding these positions. I still don't quite trust the trades I take so I still feel uncomfortable holding for an extended period of time. I know that's a personal problem and I hope to fix that.

For GBP/USD, the Weekly is down, Daily is up, and the H1 W% is between -80/-90. Would you recommend waiting to see what the price action does since it's hovering between a weekly resistance level and a PP? I attached all three charts according to my Oanda fxTrade platform.

Thanks man,
Mike
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDWEEKLY.PNG Size: 107 KB
Click to Enlarge Name: GBPUSDDAILY.PNG Size: 125 KB
Click to Enlarge Name: GBPUSDHOURLY.PNG Size: 115 KB
  • #498
  • Apr 8, 2013 5:42pm Apr 8, 2013 5:42pm
Quoting 100PipsADay
Just woke up and it looks like everybody is having a great day so far! I'm going to take care of a few things this morning before posting trade analysis as well as closed / current positions

trade analysis like the ones you posted in post 482, and 484 is what we need everyweek or whenever you see oppurtunities arising. not just from you but anyone who can care to post.

iam long on eur/aud. losing though.
  • #499
  • Apr 8, 2013 5:44pm Apr 8, 2013 5:44pm
Quoting MysticX
Hi 100Pips, First off - I've been reading some of the forums for a little while and I gotta give you massive props for all the work that you have done. I'm only a couple years younger than you, but I definitely look up to you and hope to see some obvious success soon. I've been reading this thread as well as the recommended reading (PASR + summary of Elder's work...I have an order for Elder's Trading for a Living coming my way soon), and have taken a couple small intraday trades so far today utilizing the W%, MACD, (possibly poorly-drawn) Fibo...
MysticX,

I wouldn't worry about trying to incorporate weekly resistance and support levels into this strategy just yet. As for GBP/USD right now are showing Up on the D1 MACD and are over sold on the H1. Right now is a good time to get long on GBP/USD if you haven't already.
  • #500
  • Apr 8, 2013 6:28pm Apr 8, 2013 6:28pm
Couple more trades hit their TP targets while I was out!

1st Chart: Recently Closed Positions
2nd Chart: Total Profit & Loss since March 2013
3rd Chart: Total Floating Profit

Total Closed Profit in Pips: 3,188 Pips

Total Floating Profit in Pips: 2,499 Pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Closed_Positions.png Size: 90 KB
Click to Enlarge Name: Total_PnL_.png Size: 125 KB
Click to Enlarge Name: Total_Floating.png Size: 113 KB
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