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  • #3,361
  • May 14, 2013 9:10am May 14, 2013 9:10am
Quoting Seneca pilot
{quote} That was the London close yesterday. I sold there when price tested the area from below after breaking below the area. The first trade of the day would have been a long from the daily open and that failed so I take a short bias for the rest of the day. When you come into the market late you have to reconstruct the days events to that point so you know what your bias should be.
Thx.
  • #3,362
  • May 14, 2013 9:17am May 14, 2013 9:17am
Quoting jonnypants
{quote} Hi Chris How did KK know you shorted 1.5289? I see you short the EU at 2973 - short off the weekly close? Cheers PS shouldn't you have been in at 2988, sounds like you were a bit late....
I guess he is watching my explorer. The short at 2973 was from the NY close yesterday. EU is a bit confusing right now so I put my stop to BE really quickly and it is now dead. I have been a little bit confused by price action for the past few days so I am treading lightly. I was quite tired so I have been sleeping nightly instead of trading. This has resulted in my taking trades during Asia and then having to trade NY. I don't do that well in NY trading so I do it very cautiously.
  • #3,363
  • May 14, 2013 9:26am May 14, 2013 9:26am
Quoting Seneca pilot
{quote} I guess he is watching my explorer. The short at 2973 was from the NY close yesterday. EU is a bit confusing right now so I put my stop to BE really quickly and it is now dead. I have been a little bit confused by price action for the past few days so I am treading lightly. I was quite tired so I have been sleeping nightly instead of trading. This has resulted in my taking trades during Asia and then having to trade NY. I don't do that well in NY trading so I do it very cautiously.
Yes just found the trade in your explorer.
Btw, do you trade UJ at all.. Seem not working quite well...
  • #3,364
  • May 14, 2013 9:27am May 14, 2013 9:27am
Quoting Seneca pilot
{quote} I guess he is watching my explorer. The short at 2973 was from the NY close yesterday. EU is a bit confusing right now so I put my stop to BE really quickly and it is now dead. I have been a little bit confused by price action for the past few days so I am treading lightly. I was quite tired so I have been sleeping nightly instead of trading. This has resulted in my taking trades during Asia and then having to trade NY. I don't do that well in NY trading so I do it very cautiously.
ok gotcha boss!
see the reason I mentioned 2988? Also double top off yesterdays high was a juicy one.....
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  • #3,365
  • May 14, 2013 9:42am May 14, 2013 9:42am
Quoting kk007
{quote} Yes just found the trade in your explorer. Btw, do you trade UJ at all.. Seem not working quite well...
Worked very well if you bought the previous day low this morning. If you tried to sell later into a long bias pair then yes it was a tough one. First thing hit today was Monday low. There fore long bias until proven wrong.
  • #3,366
  • May 14, 2013 9:45am May 14, 2013 9:45am
Quoting jonnypants
{quote} ok gotcha boss! see the reason I mentioned 2988? Also double top off yesterdays high was a juicy one..... {image}
I slept through that trade. Notice how the German news was negative but the price went up. Then the next bar was an inside bar. That news trading short was the trade of the day. Hate I missed it but I have been very tired of late and needing some sleep.
  • #3,367
  • May 14, 2013 9:50am May 14, 2013 9:50am
Quoting Seneca pilot
{quote} Worked very well if you bought the previous day low this morning. If you tried to sell later into a long bias pair then yes it was a tough one. First thing hit today was Monday low. There fore long bias until proven wrong.
Did you say we use a different timeshift for UJ?
Sorry I missed the first-thing-hit-today-bias concept.
I will check earlier post on this thread.
  • #3,368
  • May 14, 2013 10:18am May 14, 2013 10:18am
Quoting kk007
{quote} Did you say we use a different timeshift for UJ? Sorry I missed the first-thing-hit-today-bias concept. I will check earlier post on this thread.
You can use an alternative start time for UJ of NY close. This worked out well yesterday as during Asia there was a sell from this price just before Tokyo. The regular hours also work most of the time. The first trade using NY close resulted in a forty pip short. The normal hours resulted in a long that is still in play although weakening in momentum.
  • #3,369
  • May 14, 2013 10:21am May 14, 2013 10:21am
EU just shot down to test last week's low. I will take a shot here with a long. Don't know how this will work out but I am in it looking for some movement up. If this holds I would love to see my self being able to hold it to the last week mid price of around 3060. This is not my strong suit.
  • #3,370
  • May 14, 2013 11:00am May 14, 2013 11:00am
Quoting Seneca pilot
EU just shot down to test last week's low. I will take a shot here with a long. Don't know how this will work out but I am in it looking for some movement up. If this holds I would love to see my self being able to hold it to the last week mid price of around 3060. This is not my strong suit.
So you mapping the previous week high/low as well as yesterday's?
What color for that one? :nerd:
Nice double bottom on this bad boy for over 100 pippers....
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  • #3,371
  • May 14, 2013 11:19am May 14, 2013 11:19am
Quoting jonnypants
What color for that one? :nerd:
blue on mine.

johnny incase you are not aware there are some great level drawing indis attached to the thread which are worth a look. A couple I couldn't get working but 'Daily-Weekly-Monthly-Hi-Low' works really well keeping your Daily levels only on the relavant portion of your chart and so keeps things clean. Also makes looking at the longer timeframe far less confusing. It's highly customizable.

Bit of a battle with this long SP but so far so good. With regard to taking WL over PDL was that decided before price got there or did you observe for a bit? Seems a good idea to go long here but why go for the slightly lower level?
  • #3,372
  • May 14, 2013 11:25am May 14, 2013 11:25am
Quoting stevexyg
{quote} blue on mine. johnny incase you are not aware there are some great level drawing indis attached to the thread which are worth a look. A couple I couldn't get working but 'Daily-Weekly-Monthly-Hi-Low' works really well keeping your Daily levels only on the relavant portion of your chart and so keeps things clean. Also makes looking at the longer timeframe far less confusing. It's highly customizable. Bit of a battle with this long SP but so far so good. With regard to taking WL over PDL was that decided before price got there or did you observe...
When the levels are that close together I think price will always find the stronger weekly level. The distance is less than six pips so no problem getting the lower price.
  • #3,373
  • May 14, 2013 11:34am May 14, 2013 11:34am
Quoting Seneca pilot
EU just shot down to test last week's low. I will take a shot here with a long. Don't know how this will work out but I am in it looking for some movement up. If this holds I would love to see my self being able to hold it to the last week mid price of around 3060. This is not my strong suit.
I killed the trade. Too late in the day and I am losing interest. I will come back to the trading platform later this evening and see what is shaking.
  • #3,374
  • May 14, 2013 11:42am May 14, 2013 11:42am
Quoting stevexyg
{quote} blue on mine. johnny incase you are not aware there are some great level drawing indis attached to the thread which are worth a look. A couple I couldn't get working but 'Daily-Weekly-Monthly-Hi-Low' works really well keeping your Daily levels only on the relavant portion of your chart and so keeps things clean. Also makes looking at the longer timeframe far less confusing. It's highly customizable. Bit of a battle with this long SP but so far so good. With regard to taking WL over PDL was that decided before price got there or did you observe...
Nice one steve, thanks for the heads up! Will try and find em and have a play......
  • #3,375
  • May 14, 2013 12:51pm May 14, 2013 12:51pm
Quoting Seneca pilot
{quote} I killed the trade. Too late in the day and I am losing interest. I will come back to the trading platform later this evening and see what is shaking.
Falling asleep watching it, could have been a mover, like you say its late and how long are we supposed to watch this crap?

johnny, come back - click on the paper clip at the top of the page! will save you a few days.
  • #3,376
  • Edited 1:58pm May 15, 2013 12:28am | Edited 1:58pm
At 2:00amET when the German Prelim GDP data came out, both EU and EJ dropped on the bad news. But noticed that GU and AU was holding above their respective NY Close (see 2:15amET candle on your charts). I interpreted this as false breakdown move and played EJ and EU long. EU unfortunately stopped, but EURJPY entry at 131.910 was a good run. Everyone who shorted EJ under 132.00 and under Last Week's Close were trapped and in serious trouble, and had to cover their positions.

Quoting hollowhead
{quote} mmaker - I don't understand the correlation you made between German data impact on EU and EJ in relation to GU and AU. Please could you expand a little? Thanks
See private message.
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No longer trading forex. Looking for full time job.
  • #3,377
  • May 15, 2013 12:40am May 15, 2013 12:40am
mmaker

this is a very smart analysis , full of common sense , with a perfect execution of your plan , especially with a very smart risk management ...




Landsat
Logic will take you from A to B Imagination will take you anywhere (A.E)
  • #3,378
  • Edited 1:42am May 15, 2013 1:06am | Edited 1:42am
Anyone still trading the ORB method ? (post #80 of this thread)

After a nice losing period there is a 1:10 (and counting) runner from last thursday (09MAY)

(12 pip range - 50% closed at 1:1 - and now we have about a 240pips winnig trade but only with 50% of the position)
So we can see it as a 120 pips win - that's why it is 1:10 .



I was trying to upload the chart (like 5 times) but wasn't able to... I'm not sure why.
(its only a 63kb jpg file but the "security scan" never ends.
"Always be yourself " Batman
  • #3,379
  • May 15, 2013 2:15am May 15, 2013 2:15am
I am going to come right out and say that I am totally confused and ready for a couple of days off. I was short Euro for the entire slate of bad economic news tonight and I have nothing to show for it but some minor losses. I am completely lost right now. I started the night off by selling last week's high with EJ and the German news pushed down. I thought of taking profit at last week's close but thought I would hold it because I have been taking profits too early lately. I moved to BE at the weekly close and let it go. Mistake. There was some other stuff but the worst is the EZ GDP missing and Euro currently going up.

I am dazed and confused and sick of trading right now.
  • #3,380
  • May 15, 2013 2:26am May 15, 2013 2:26am
Quoting Seneca pilot
I am going to come right out and say that I am totally confused and ready for a couple of days off. I was short Euro for the entire slate of bad economic news tonight and I have nothing to show for it but some minor losses. I am completely lost right now. I started the night off by selling last week's high with EJ and the German news pushed down. I thought of taking profit at last week's close but thought I would hold it because I have been taking profits too early lately. I moved to BE at the weekly close and let it go. Mistake. There was some...
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