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Genesis Matrix Trading

  • #13,581
  • May 20, 2013 5:14am May 20, 2013 5:14am
Quoting Cold_W
RJ (and other members), if you're not too busy, could you please give your feedback on this trade opportunity on GU? Thank you. {image}
I've been watching that for a while now. If you flick to an M15 chart you'll see that since market open today that the PA has been making higher highs and higher lows.....so until I see a lower low (which might come soon seeing as the pivot is in the way of the bulls), I won't consider an entry.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,582
  • May 20, 2013 5:24am May 20, 2013 5:24am
Quoting realjumper
{quote} I've been watching that for a while now. If you flick to an M15 chart you'll see that since market open today that the PA has been making higher highs and higher lows.....so until I see a lower low (which might come soon seeing as the pivot is in the way of the bulls), I won't consider an entry.
I have M15 chart open along with M5 and HH and HL there did caught my eye. Your reply helped me to make sure that I'm seeing the right things. Thank you sooo much

Edit: looks like we got LL there.
  • #13,583
  • May 20, 2013 5:42am May 20, 2013 5:42am
Quoting Cold_W
RJ (and other members), if you're not too busy, could you please give your feedback on this trade opportunity on GU? Thank you. {image}
Me personally, I'm short at 1.5195 since the matrix it is in agreement with the overall higher TF trend that I use as a basis for triggering a trade. I don't counter trend trade much. Meaning, anything lower then the hourly/daily + IMO, is a counter trend if it is NOT in agreement with said TF. Nothing of course is a guarantee, but I prefer to increase my odds of a successful trade. We'll see how it plays out. Market is ranging a bit today.
  • #13,584
  • May 20, 2013 5:46am May 20, 2013 5:46am
Quoting MKFXTrader
{quote} Me personally, I'm short at 1.5195 since the matrix it is in agreement with the overall higher TF trend that I use as a basis for triggering a trade. I don't counter trend trade much. Meaning, anything lower then the hourly/daily/weekly IMO, is a counter trend if it is NOT in agreement with said above. Nothing of course is a guarantee, but I prefer to increase my odds of a successful trade. We'll see how it plays out.
I took the exact same trade, but I exited at sunday's low because I'm afraid that I was looking at it all wrong, so I'm waiting for a break of 5184 to re-enter short. A break of the cluster right above (RN/DP/sunday high) is my cue to go long.
  • #13,585
  • May 20, 2013 5:56am May 20, 2013 5:56am
Quoting MKFXTrader
{quote} Me personally, I'm short at 1.5195 since the matrix it is in agreement with the overall higher TF trend that I use as a basis for triggering a trade. I don't counter trend trade much. Meaning, anything lower then the hourly/daily + IMO, is a counter trend if it is NOT in agreement with said TF. Nothing of course is a guarantee, but I prefer to increase my odds of a successful trade. We'll see how it plays out. Market is ranging a bit today.
I thought GU short was going to be a good trade too......
.... laughing all the way to the bank
  • #13,586
  • May 20, 2013 6:00am May 20, 2013 6:00am
Quoting MKFXTrader
{quote} Me personally, I'm short at 1.5195 since the matrix it is in agreement with the overall higher TF trend that I use as a basis for triggering a trade. I don't counter trend trade much. Meaning, anything lower then the hourly/daily + IMO, is a counter trend if it is NOT in agreement with said TF. Nothing of course is a guarantee, but I prefer to increase my odds of a successful trade. We'll see how it plays out. Market is ranging a bit today.
Thank you for sharing your opinion. Where is your SL on that trade? Around 1.5220?
  • #13,587
  • Edited 6:35am May 20, 2013 6:16am | Edited 6:35am
Quoting Cold_W
{quote} Thank you for sharing your opinion. Where is your SL on that trade? Around 1.5220?
Yes. On my trades I use a 25pip SL with a 1st target 50pip TP and a 2nd TP at 75pips and a third at 100pips. Of course unless the tide changes and u need to just get out and bank whatever pips you've earned or cut your losses b4 SL is hit.
  • #13,588
  • May 20, 2013 6:19am May 20, 2013 6:19am
Quoting itsallover
{quote} I thought GU short was going to be a good trade too......
Hopefully it plays out to the downside. Market is ranging. We'll see where the U.S market wants to go.
  • #13,589
  • May 20, 2013 6:21am May 20, 2013 6:21am
Quoting WDays
{quote} I took the exact same trade, but I exited at sunday's low because I'm afraid that I was looking at it all wrong, so I'm waiting for a break of 5184 to re-enter short. A break of the cluster right above (RN/DP/sunday high) is my cue to go long.
Good call. I try to ignore Sunday's PA. Friday's low is at 1.5157.
  • #13,590
  • May 20, 2013 6:22am May 20, 2013 6:22am
Quoting MKFXTrader
{quote} Hopefully it plays out to the downside. Market is ranging. We'll see where the U.S market wants to go.
.... hmmm... USD seems to be weakening but I still expect GU to go down a bit more.
.... laughing all the way to the bank
  • #13,591
  • May 20, 2013 6:24am May 20, 2013 6:24am
Quoting itsallover
{quote} .... hmmm... USD seems to be weakening but I still expect GU to go down a bit more.
Yeah, USDX doesn't look good right now. Let's see.
  • #13,592
  • May 20, 2013 6:38am May 20, 2013 6:38am
Staying out, generally.

Anyone knows why EJ is flat?
What the mind does not know, the eyes cannot see
  • #13,593
  • May 20, 2013 6:39am May 20, 2013 6:39am
Quoting MKFXTrader
{quote} Good call. I try to ignore Sunday's PA. Friday's low is at 1.5157.
So do I normally, but a higher low in a downtrend is a deal-breaker for me. FYI same goes for eurjpy/usdjpy. No higher high after yesterday's open, so be careful. We'll see how things play out after NY.

Quoting padila
Staying out, generally. Anyone knows why EJ is flat?
Because bulls seem to be losing strength, particularly in EJ's case price is consolidating, if u look at a higher tf. We'll see if they get the upper hand again hopefully soon...
  • #13,594
  • May 20, 2013 6:45am May 20, 2013 6:45am
Quoting WDays
{quote} So do I normally, but a higher low in a downtrend is a deal-breaker for me. FYI same goes for eurjpy/usdjpy. No higher high after yesterday's open, so be careful. We'll see how things play out after NY. {quote} Because bulls seem to be losing strength, particularly in EJ's case price is consolidating, if u look at a higher tf. We'll see if they get the upper hand again hopefully soon...
PA today is horrible and is one of the main reasons, I usually don't trade on Monday's. Oh well. We'll see how the day progresses. Mainland Europe is on Church holiday, so maybe NY will push the market.
  • #13,595
  • May 20, 2013 6:47am May 20, 2013 6:47am
Quoting MKFXTrader
{quote} Yeah, USDX doesn't look good right now. Let's see.

.... get in!
.... laughing all the way to the bank
  • #13,596
  • May 20, 2013 6:55am May 20, 2013 6:55am
Quoting MKFXTrader
{quote} PA today is horrible and is one of the main reasons, I usually don't trade on Monday's. Oh well. We'll see how the day progresses. Mainland Europe is on Church holiday, so maybe NY will push the market.
According to my newbie observations, mondays are only good past NY open. I seldom take trades on monday too, but I do look at my charts in case something "pops up"... So far I'm like 5 pips up for the day after my GU short that I aborted (and good thing I aborted, lol). Waiting impatiently to see what's going to happen. GU is pushing against the resistances again... We'll see how it goes.
  • #13,597
  • May 20, 2013 7:07am May 20, 2013 7:07am
Quoting padila
Staying out, generally. Anyone knows why EJ is flat?
Japannese Finance Minister talking up the Yen earlier today saying that the Yen corrective weakness has pretty much been completed, and any more depreciation could effect the populace in a negative way.

This is probably why Yen crosses have currently halted it's rise.
  • #13,598
  • May 20, 2013 7:10am May 20, 2013 7:10am
Quoting MKFXTrader
{quote} Japannese Finance Minister talking up the Yen earlier today saying that the Yen corrective weakness has pretty much been completed, and any more depreciation could effect the populace in a negative way. This is probably why Yen crosses have currently halted it's rise.
I see, thanks.
What the mind does not know, the eyes cannot see
  • #13,599
  • May 20, 2013 7:51am May 20, 2013 7:51am
Morning Honey Bunney's anyone is in sell with me EJ
  • #13,600
  • May 20, 2013 8:23am May 20, 2013 8:23am
Quoting Fame of me
Morning Honey Bunney's anyone is in sell with me EJ
Not me.....I missed the entry
Doing what you like is Freedom. Liking what you do is Happiness.
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