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  • #58,861
  • Jun 6, 2013 1:30pm Jun 6, 2013 1:30pm
Quoting TradeForexFx
{quote} Thanks for your response, Xandi. Appreciate if you could show on your chart the point where you started your trade, and the relevant pin bar that got your pyramid started. thanks.
the relevant pinbar itīs on the chart I posted before the moove started...I post here the rule: "after a sharp fall, wait for a relevant pin bar, followed by green candle...On the chart you can see that occured 4/5 times and all the time the pattern was the same..so it was easy to predict.
My method is "Inverted Pyramid", with TP 50/70 pips.
So you only have to choose some really oversold or overbought to start your Inverted Pyramid.
I started on 9700, and today watching that pattern I became more relaxed, and my "Stop" was when I have reach 1.6 LOT, which were at 9300(price at 9200)..anyway, the probability of falling from 9700 to 9200 without a retracement of 100 pips itīs very low, so in this method you can always jump off at breakeven in some retracement, since you build correctly your pyramid. I explain it here, 100 pips interval:
0.1
0.1
0.2
0.4
0.8
1.6
3.2
..and so on..depends on your margin..and Price Medium Breakeven is always only 100 pips from you +/-.
  • #58,862
  • Jun 6, 2013 1:33pm Jun 6, 2013 1:33pm
Quoting Peepo
{quote} Could you close your Longs with profits Xandi ? if so I admire your mental strength, that what is need
I closed my longs with +50 pips(Average) with 0.8 LOT(0.2+0.1+0.1+0.4) ..called here, I only use Pending Orders, I was not even looking at the screen!
  • #58,863
  • Jun 6, 2013 1:42pm Jun 6, 2013 1:42pm
Quoting xandi
{quote} I closed my longs with +50 pips(Average) with 0.8 LOT(0.2+0.1+0.1+0.4) ..called here, I only use Pending Orders, I was not even looking at the screen!
super !
  • #58,864
  • Jun 6, 2013 1:46pm Jun 6, 2013 1:46pm
Nice Thread
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #58,865
  • Jun 6, 2013 1:46pm Jun 6, 2013 1:46pm
good? you might use micro lot, or start with 0.1!
Attached Image (click to enlarge)
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  • #58,866
  • Jun 6, 2013 1:53pm Jun 6, 2013 1:53pm
I am trying to do the same thing now, but I am not I'm not patient, I have to strengthen it, for I see that in the end would always have reason to put recovery positions
  • #58,867
  • Jun 6, 2013 1:55pm Jun 6, 2013 1:55pm
Quoting xandi
good? {image}
I do not see any pin bar, followed by a green candle, at the point the first lot (0.2) was bought on June 04.

TF
Attached Image
  • #58,868
  • Jun 6, 2013 2:01pm Jun 6, 2013 2:01pm
bro, Iīve told you, the pin bar only occured today
Quoting xandi
Ok, Iīm liking this chart now, for first time we have a green candle!! ok, time to put my Pending TP = 9630. ps: do you recognize the pattern?? after a fall, we create a pinbar, and after we have to get a green candle!! thatīs all we need!! {image}
The pin bar was not the trigger to enter on trade..could have been, but Iīve entered before, Iīve tod also in some post before, 50% you will enter right from the beginning and profit sooner, 50% not.. you have to enter on very very voerbought/oversold, far away from Moovin Averages better, on High Time Frames, better..

the pin bar only give me confidence because the pattern was known...any scalper or daytrader took advantage of it also. see my quote, thereīs chart there, inside circles you have the pinbar.
  • #58,869
  • Jun 6, 2013 2:16pm Jun 6, 2013 2:16pm
Quoting Erebus
{quote} so we have hit the bottom now you have exit
Somebody tell me WHY!!!
  • #58,870
  • Jun 6, 2013 4:09pm Jun 6, 2013 4:09pm
Congrats to all those who did well today.

I played it safe , although knowing this might happen I was expecting tomorrow not today and stayed out all day.

Someone did mention June 6th to me about a week ago when I posted a pump and dump comment somewhere.

I'd like to find that guy and pick his brain!
  • #58,871
  • Edited 5:02pm Jun 6, 2013 4:16pm | Edited 5:02pm
Quoting namitak007
{quote} Mate, Even Countries put fake data some times to save their currency. It's juts Sentiment. I said fake because longing in down trend is just suicide. Scalpers are welcomed but not all. May be people are waiting for "historic" reversal but it's not guaranteed. It may happen or may not. I guess they have themselves entered into long and this maybe an attempt to attract more buyers...! Who knows!
Actually, the Speculative Sentiment Index (SSI) is a contrarian indicator. That means if the majority of traders are buying AUD/USD, which is still the case as of the latest weekly summary, then this is a bearish signal to sell the pair, since it could decline further.

http://media.dailyfx.com/illustratio...Picture_16.png


Another thing to note is that with our No Dealing Desk (NDD) forex execution, FXCM doesn't take a position in the market. Instead, we offset client orders one-to-one with our 10+ liquidity providers, so it makes no difference to us whether AUD/USD rises or falls. We make our money off client trading volume.
  • #58,872
  • Jun 6, 2013 5:47pm Jun 6, 2013 5:47pm
Anyone still like the AUD/USD short still?
  • #58,873
  • Jun 6, 2013 5:57pm Jun 6, 2013 5:57pm
Loving this shit..
Back to the days of old when 3 to 4 big fig moves were just another day .

Ok back to reality

We are still in a downtrend in the overall scheme of things .
Short term indicators suggest .9530 should provide a base- that's if you believe that stuff as most of the soothsayers watching their charts like a hawk would have been smoked on the move last night .
Topside i think you will find sellers around .9630

For the noobies - widen the scope - once you have moves like this then markets become elasticated as solid orders have been wiped so expect more exaggerated moves which means reduce position size initially and sell or buy into the stretch.

Its a long weekend in OZ thanks to her majesty.. enjoy it subjects !!!
  • #58,874
  • Jun 6, 2013 6:02pm Jun 6, 2013 6:02pm
ok, time to start building the pyramid again!!!

itīs like construction workers

Long 9550 = 0.2 Lot

TP already in place = 9630
  • #58,875
  • Jun 6, 2013 6:08pm Jun 6, 2013 6:08pm
Quoting xandi
ok, time to start building the pyramid again!!! itīs like construction workers Long 9550 = 0.2 Lot TP already in place = 9630
Appreciate chart/charts so we understand the entry.

thanks
TF
  • #58,876
  • Jun 6, 2013 6:13pm Jun 6, 2013 6:13pm
Quoting TradeForexFx
{quote} Appreciate chart/charts so we understand the entry. thanks TF
Simple..price retraced almost 50% from the up movement we saw today..probably I will not have to build pyramid, because mmy TP is going to be reached first...but, if not, we are in the same situation we were before, we are oversold on weekly, so thereīs no much risk in my opinion to start here the top of pyramid. Evenmore, we are in better place, price is lower than in my previous pyramid(top was 9700).
  • #58,877
  • Jun 6, 2013 6:25pm Jun 6, 2013 6:25pm
Quoting xandi
{quote} Simple..price retraced almost 50% from the up movement we saw today..probably I will not have to build pyramid, because mmy TP is going to be reached first...but, if not, we are in the same situation we were before, we are oversold on weekly, so thereīs no much risk in my opinion to start here the top of pyramid. Evenmore, we are in better place, price is lower than in my previous pyramid(top was 9700).
The pair is oversold (weekly) since early May. Have you been creating buy pyramids since then? What do u use for determining overbought/oversold?

TF
  • #58,878
  • Jun 6, 2013 6:39pm Jun 6, 2013 6:39pm
Quoting TradeForexFx
{quote} The pair is oversold (weekly) since early May. Have you been creating buy pyramids since then? What do u use for determining overbought/oversold? TF
no, I was not building on early May!! I was on vacation, catching avocados on Tenerife
when I say oversold, Iīm not refering to any indicator, Iīm referring to the fact price went down very fast, with tight retrace (yes, even with pyramid you could that jump off near Breakven).so now itīs the time, it might happen as in July 2008, but donīt seem to be the case..if so, I will jump off in any Breakeven after reinforcing basis. once more, depends on your margin, you have to adjust the Lot size to margin:
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  • #58,879
  • Jun 6, 2013 6:42pm Jun 6, 2013 6:42pm
Quoting xandi
{quote} no, I was not building on early May!! I was on vacation, catching avocados on Tenerife when I say oversold, Iīm not refering to any indicator, Iīm referring to the fact price went down very fast, with tight retrace (yes, even with pyramid you could that jump off near Breakven).so now itīs the time, it might happen as in July 2008, but donīt seem to be the cas..if so, I will leave in any Breakeven after reinforcing basis. once more, depends on your margin, you have to adjust the Lot size to margin: {image}
I was looking on the Candle finished at .9671, then go down until now, arround .9538 and did another candle, that means that will go up?
  • #58,880
  • Jun 6, 2013 6:53pm Jun 6, 2013 6:53pm
Then by your logic we are MASSIVELY over bought after today right?

Regardless, I'm +54 pips on a short right now from this rally.
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