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  • #810,921
  • Jun 27, 2013 4:52am Jun 27, 2013 4:52am
Quoting saqoli
{quote} Also I am thinking about some thing like this if you can make some tools I am very happy to can check them.
The easiest thing to do is to stare at the charts, go throught every TF from top to bottom without ignoring any, spot major turns on every single one, check what happend at those points/PA, what was the fundamental trigger and how that trigger corresponds to technical level the price were on that day,
Focus on weekly TF and how does it build momentum vs Daily chart and PA, Year, quarter, month and weekly close are the days you want pay attention to + round numbers usually i.e. 1,50 1,45
Fibo is great on higher TF's at least for me to spot continuation or failed trend.
Finaly there is COT but I wrote about this many times so make an effort and find it in my posts.
You do not have to do it like I do, it is just general idea - the whole pattern has to be seen by you and only you can build useful conclusions for yourself,
It is like - I trade pivots, but can you?
Best of luck.
swing it!
  • #810,922
  • Jun 27, 2013 4:56am Jun 27, 2013 4:56am
Quoting hadox
{quote} if your equity is the same , what is the trick in having 2 position in opposite directions.. you would loose the spread everytime.. fell free to share your ideas.. but you need to remember there's a big difference in sharing ideas and be trading for a living.. when your bills needs to be payed every month it changes everything..
You are right, trading for a living is very different. Something I haven't done.

And yes, pay 2 spreads, if I had to say why, I would say because you have the weighted chance that the other trade can also make a profit.


I am learning. And will definately make an attempt to test an account with no counter trading and see the results based on more trading techniques.
with reverse entries + stops, etc

Nice talking Hadox
Even the worst trade can close with profit. Just give it time.
  • #810,923
  • Jun 27, 2013 5:01am Jun 27, 2013 5:01am
Quoting tomspin
{quote} The easiest thing to do is to stare at the charts, go throught every TF from top to bottom without ignoring any, spot major turns on every single one, check what happend at those points/PA, what was the fundamental trigger and how that trigger corresponds to technical level the price were on that day, Focus on weekly TF and how does it build momentum vs Daily chart and PA, Year, quarter, month and weekly close are the days you want pay attention to + round numbers usually i.e. 1,50 1,45 Fibo is great on higher TF's at least for me to spot...
Hi Tomspin,

Do you find the COT report useful plays a part in your decision?

I have never used it, although I was told to when I first started learning...
Even the worst trade can close with profit. Just give it time.
  • #810,924
  • Jun 27, 2013 5:05am Jun 27, 2013 5:05am
If anyone feels like buying a couple of euros, 3013.1 atm is probably worth a shot. SL would by 4.4 pips + spread for a potential RR of 19.32
  • #810,925
  • Jun 27, 2013 5:10am Jun 27, 2013 5:10am
Quoting John Gray
{quote} Hi Tomspin, Do you find the COT report useful plays a part in your decision? I have never used it, although I was told to when I first started learning...
I spot 1.20 and 1.37 but I was wrong about SP even if it happened like it should, I overestimated power of FED and didn't fully understand what was going on, and I was late about a quarter with that and silly top call which you can see in my signature.
I was also right with OZ with last leg up in consolidation from march (that doji).
You look for a balance between both sides of the market near round psych number plus there is some fundamental shift backed by lost momentum from previous participation in the market.
Funny I read this at babypips, observed and drawn my own conclusions - this is how the learning process looks like in trading imo,
swing it!
  • #810,926
  • Jun 27, 2013 5:12am Jun 27, 2013 5:12am
EUR/USD as of today I see bulish with target 1.3150/1.200
  • #810,927
  • Jun 27, 2013 5:12am Jun 27, 2013 5:12am
looks like it wants the old 10.876 level again:

USDOLLAR D1:
Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #810,928
  • Jun 27, 2013 5:17am Jun 27, 2013 5:17am
Quoting tomspin
{quote} I spot 1.20 and 1.37 but I was wrong about SP even if it happened like it should, I overestimated power of FED and didn't fully understand what was going on, and I was late about a quarter with that and silly top call which you can see in my signature. I was also right with OZ with last leg up in consolidation from march (that doji). You look for a balance between both sides of the market near round psych number plus there is some fundamental shift backed by lost momentum from previous participation in the market. Funny I read this at babypips,...
Interesting, thank you!

Babypips, must say the best introduction tool
Even the worst trade can close with profit. Just give it time.
  • #810,929
  • Jun 27, 2013 5:17am Jun 27, 2013 5:17am
Quoting Mr Hatch
{quote} Could you simplify your charts by at least colorizing the relevant lines? Eg. which of the numerous lines does "last line of defense" refer to? KISS. The weather sucks today. Wife is reading...
It is this quadrangle.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 84 KB
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #810,930
  • Jun 27, 2013 5:19am Jun 27, 2013 5:19am
recent good example of bottom forming, these are fixed 3 months futures contracts,
Look for the daily and weekly from may 19th (my birthday btw)
Attached Image (click to enlarge)
Click to Enlarge Name: cot.gif Size: 18 KB
swing it!
  • #810,931
  • Jun 27, 2013 5:27am Jun 27, 2013 5:27am
Quoting tomspin
recent good example of bottom forming, these are fixed 3 months futures contracts, Look for the daily and weekly from may 19th (my birthday btw) {image}
Now this will kick your ass,
check positions across ALL the market just before crash happened....

http://www.cftc.gov/files/dea/cotarc...mesf070808.htm
swing it!
  • #810,932
  • Jun 27, 2013 5:29am Jun 27, 2013 5:29am
Quoting tomspin
recent good example of bottom forming, these are fixed 3 months futures contracts, Look for the daily and weekly from may 19th (my birthday btw) {image}
more Long than Shorts?
but only in US?
  • #810,933
  • Jun 27, 2013 5:33am Jun 27, 2013 5:33am
Quoting Grandhis
{quote} more Long than Shorts? but only in US?
No bottom or top is formed when commercial and non commercial part of the market become balanced, there will be differences it is not exactly equal, but it is visible for somebody who read those reports every week,
The important part is in the red mark, I went back as far as 2008 with this and checked major turns on weekly, works for me waiting for the solid bottom atm in eurodollar, this will be third time so will have something to backed my theory up if it'll happen.
swing it!
  • #810,934
  • Jun 27, 2013 5:38am Jun 27, 2013 5:38am
Quoting Mr Hatch
If anyone feels like buying a couple of euros, 3013.1 atm is probably worth a shot. SL would by 4.4 pips + spread for a potential RR of 19.32
freebie now.
  • #810,935
  • Jun 27, 2013 5:40am Jun 27, 2013 5:40am
Quoting Z3iz3i
There 's some need for choppy action because of respective positions of majors and yen pairs (eurjpy, usdjpy, gbpjpy). Thats why gbpusd found some temporary bounce as i see it. Geppy needs to break down intraday open price before some renewed selling will happen to cable. But it can be basicly done 2 ways: - Need to buy jpy(usd,eur,gbp,aud) up and at proper point start selling gbp while buying others or just supporting them from dropping. Or temporary stop triggering on geppy while other jpy's are staying put. - Volume selling on both eurusd and...

while it may sound like "Greek" to the un-initiated, its good to see sound inter-market views being shared..

in addition to EURAUD & EURCAD @/near demand, looks like EURGBP & GBPUSD are being massaged.. month end adjustments plus volume buying on EURGBP while massaging EURXXX's & GBPUSD here @ HFT demand could put in a floor here for Euro to chop above 1.30 to the dismay of those S/T Predators..

COT sentiment crossing over to net bullish last week for the 2nd time since January usually meant patient SM looking for multi-figure paydays will scale in at inflection zones in accord with the M/T bias..
  • #810,936
  • Jun 27, 2013 5:42am Jun 27, 2013 5:42am
Hi guys,

am actually not here, but will be online soon. As you could witness, I ve been catching low whole May, spent 12% of account, only to got kicked out at BE during last spike down (final spike went 5 pips below my BE and then 500 pips up, just great ). Could be perfect trade, as I had 1:4 leveraged ,2844 and TP ,34. Well, I ve missed the train so found a job and was waiting for another correction down. Bottom of last correction may come pretty soon, so am going to join you. I just need like two more weeks to finish few things.

Take care and cya soon,

Tom
"I know one thing, that I know nothing." Sokrates
  • #810,937
  • Jun 27, 2013 5:43am Jun 27, 2013 5:43am
Quoting Mr Hatch
{quote} great, thanks. ....
These are lines beginning on 2821 of 23 May And they led the trend to 3417. There got involved the bear. Change in trend will occur at break of 2821. It is static. Dynamic - on my chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 47 KB


We now expect a new bottom, which will change the position of power. Where will it be?
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #810,938
  • Jun 27, 2013 5:45am Jun 27, 2013 5:45am
Quoting tomspin
{quote} No bottom or top is formed when commercial and non commercial part of the market become balanced, there will be differences it is not exactly equal, but it is visible for somebody who read those reports every week, The important part is in the red mark, I went back as far as 2008 with this and checked major turns on weekly, works for me waiting for the solid bottom atm in eurodollar, this will be third time so will have something to backed my theory up if it'll happen.
since the beginning of this week, eur are very bearish..

If COT was true , there are balance between seller and buyer,can i assume that, buyer (based on COT report) are not yet enter the market ?
  • #810,939
  • Jun 27, 2013 5:51am Jun 27, 2013 5:51am
Quoting Tom_D_Trader
Hi guys, am actually not here, but will be online soon. As you could witness, I ve been catching low whole May, spent 12% of account, only to got kicked out at BE during last spike down (final spike went 5 pips below my BE and then 500 pips up, just great ). Could be perfect trade, as I had 1:4 leveraged ,2844 and TP ,34. Well, I ve missed the train so found a job and was waiting for another correction down. Bottom of last correction may come pretty soon, so am going to join you. I just need like two more weeks to finish...
What a classic... lmao.
  • #810,940
  • Jun 27, 2013 5:57am Jun 27, 2013 5:57am
Quoting godim
{quote} These are lines beginning on 2821 of 23 May And they led the trend to 3417. There got involved the bear. Change in trend will occur at break of 2821. It is static. Dynamic - on my chart. {image} We now expect a new bottom, which will change the position of power. Where will it be?
Who is 'we'?

I have no idea, what these numbers on top of the boxes imply. Pull a fib from 2661 to 371x and look where we are. If you expect a bottom, you can see, where it with some higher probability will be.
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