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The similarity system

  • #2,901
  • Jul 18, 2013 5:51am Jul 18, 2013 5:51am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
This is also in the back of my mind...

Quoting Eurusdd
{quote}...Manage your BUY careful because a new dis-similarity bar can sent price below 1.3082!!!
Surely a zz Top would need to form before that happens? And if my thinking is right that can only happen above the previous high (>1.3159)???
An expert is a man who has made all the mistakes which can be made
  • #2,902
  • Jul 18, 2013 5:58am Jul 18, 2013 5:58am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting vlady1974
{quote} I wondered about this... but from a non-DS point of view... if 3176 was taken out, then there's nothing to stop going north. But the fundamentals of that don't match what is happening. Dollar Positive news all round is kicking in for USDYEN. EURUSD must go down... before it can go up again.
I can think of a couple of reasons why it might not go North.

1. The dollar positive news you mentioned.
2. Big institutions were selling (we know this because of the dissimilarity and the price went south)
3. Eurusdd said that this zone had a lot of weight
Quoting Eurusdd
I think we are going below 1.29945. The new zone we are expecting has a lot of weight. Price will take a zigzag path down there.
4. He also said that zones are often allowed to grow a reasonable length.
Quoting Eurusdd
MOST zones are ALLOWED to grow to a reasonable length. Therefore, once dis-similarity starts at a given bar - analyze the chart and other zones and ask try and figure out where price will be relative to the zone when it materializes.
An expert is a man who has made all the mistakes which can be made
  • #2,903
  • Jul 18, 2013 5:59am Jul 18, 2013 5:59am
Quoting Neio
This is also in the back of my mind... {quote} Surely a zz Top would need to form before that happens? And if my thinking is right that can only happen above the previous high (>1.3159)???
You're possibly thinking of too many things that MUST EXIST in order for SOMETHING ELSE TO EXIST.
I agree that a ZZ Top has to occur before DS.

If you are concerned about timing.... then there is only one "time" that needs to be factored in from now..... New York Open at 1:30pm GMT. Until then, we'll be ranging.
A pip is only worth it if you know how much you risked to earn it
  • #2,904
  • Jul 18, 2013 6:00am Jul 18, 2013 6:00am
I am short at 1.3110 looking for 1.3088
  • #2,905
  • Jul 18, 2013 6:04am Jul 18, 2013 6:04am
Quoting vlady1974
{quote} It's a paid service and at the moment, I am not spot-trading. I have been trialing Binary Options for about 2 months now. Month 1 was horrendous as it's completely different to normal spot trading, Month 2 is getting better. Therefore, I've not funded that account or traded that account to warrant spending £30/month. They rebate you after about 3-4 trades? I will do that later this year but I'm focused on making my trading strategies work on Binary Options. Long answer to your question I know... but it means that I can have access to them...
Well, they don't actually 'refund' the £30 unless you cancel the charts, then it appears in your account at the end of the month. I learnt this painfully when I cancelled the charts, needing the drawdown instantly, expecting immediate refund and it didn't appear. I only have a small SB account as I have been wiped out 3 few times in the past 5 years and I am under strict orders not to fund it anymore. I take several small trades a day and partially close them, leaving them to run to target to test my theoris. Its taught me to be very careful and hedge rather than use stop losses as they always seemed to get triggered. Eurusdd's methods have shown me why. Its all about strength of support and resistance and the easiest 'path' for the price to take. It feels right to me after years of watching price action.

I rather like prorealtime because of the easy programming.
  • #2,906
  • Jul 18, 2013 6:04am Jul 18, 2013 6:04am
This sharp move down during Londong 10:30 to 12PM looks like alot of buying kicking in.
A pip is only worth it if you know how much you risked to earn it
  • #2,907
  • Jul 18, 2013 6:07am Jul 18, 2013 6:07am
Quoting taypot
{quote} Well, they don't actually 'refund' the £30 unless you cancel the charts, then it appears in your account at the end of the month. I learnt this painfully when I cancelled the charts, needing the drawdown instantly, expecting immediate refund and it didn't appear. I only have a small SB account as I have been wiped out 3 few times in the past 5 years and I am under strict orders not to fund it anymore. I take several small trades a day and partially close them, leaving them to run to target to test my theoris. Its taught me...
LOL... I can empathise with that!

Thanks for the info. I do want to get back to Spot Trading as Binaries have not yet kicked out my spot habits. It's a pain in the ass... but when it works it's beautiful as I dont worry about stoplosses etc. Timing is everything though... and it aint like dancing
A pip is only worth it if you know how much you risked to earn it
  • #2,908
  • Jul 18, 2013 6:16am Jul 18, 2013 6:16am
3100
3112
3125 are all important numbers today on EURUSD.

You can expect drama near these levels, no matter what system/strategy is being used.

Tails forming on the 5M... reversal.... outside of BB?
A pip is only worth it if you know how much you risked to earn it
  • #2,909
  • Jul 18, 2013 6:16am Jul 18, 2013 6:16am
Out of EJ +15pios Euro at BE
  • #2,910
  • Jul 18, 2013 6:20am Jul 18, 2013 6:20am
Hmmm. That long I took doesn't really look like a great idea... I exited one half for a minor profit, but still the position overall is -($$$).
Still holding on to it though.
  • #2,911
  • Jul 18, 2013 6:25am Jul 18, 2013 6:25am
Quoting lnorbi
Hmmm. That long I took doesn't really look like a great idea... I exited one half for a minor profit, but still the position overall is -($$$). Still holding on to it though.
That fake swing at 3122 is a real bitch!
A pip is only worth it if you know how much you risked to earn it
  • #2,912
  • Jul 18, 2013 6:29am Jul 18, 2013 6:29am
Quoting Eurusdd
$543,554 real with this move. This is not demo and I have shown it here in real-time. So, those doubting should take time and learn a thing or two. {image}
like a dream!!!
  • #2,913
  • Jul 18, 2013 6:40am Jul 18, 2013 6:40am
Soo... 3095 has proved its worth.

On the 5M timeframe did you spot the price come out of BB? That's a ZZ Bottom right there, confirmed now after 3106 taken out. Will add another long on a dip.

Edit:
Missed another add... dammit.

Re-edit:
In!
A pip is only worth it if you know how much you risked to earn it
  • #2,914
  • Jul 18, 2013 6:43am Jul 18, 2013 6:43am
Out of EU and GU at BE Good luck all
  • #2,915
  • Jul 18, 2013 6:45am Jul 18, 2013 6:45am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting vlady1974
Soo... 3095 has proved its worth. On the 5M timeframe did you spot the price come out of BB? That's a ZZ Bottom right there, confirmed now after 3106 taken out. Will add another long on a dip. Edit: Missed another add... dammit.
I am just sitting tight now...

Once we master this method I am sure there will be plenty of other opportunities!!!
An expert is a man who has made all the mistakes which can be made
  • #2,916
  • Jul 18, 2013 6:48am Jul 18, 2013 6:48am
Quoting Neio
{quote} I am just sitting tight now... Once we master this method I am sure there will be plenty of other opportunities!!!
Me too! flat at moment....

waiting for another ZZ change
  • #2,917
  • Jul 18, 2013 6:49am Jul 18, 2013 6:49am
Quoting vlady1974
Soo... 3095 has proved its worth. On the 5M timeframe did you spot the price come out of BB? That's a ZZ Bottom right there, confirmed now after 3106 taken out. Will add another long on a dip. Edit: Missed another add... dammit. Re-edit: In!
I'm not sure... From one perspective, I'd tend to agree, everything you outlined seems 100% logical. On the more fundamental side, NY is just about to open, news will come as well, plus yesterday news were USD positive, and we're yet to see a significant impact...
  • #2,918
  • Jul 18, 2013 6:53am Jul 18, 2013 6:53am
Quoting vlady1974
{quote} I don't have an exact reason for why it will hit X price. What I do know is that ZZ/BB work in a way to predict/project whether a price will form a swing top or bottom. Quick recap: Price and BB Stoch and BB (my charts wont have this as it can't do it. MT4 has it) If Price BB goes outside of BB Bands, it COULD BE a swing top.... need to check: Stoch BB... if it is inside whilst PriceBB is outside... then high chance (97%) it is a top/bottom. Stoch BB... if it is outside it is a fake. Price will reverse, sure. But it will reverse again and...
A great help for the last guy in class thanks....I'm going back to square one and taking this bit by bit again. To square my understanding..just because ZZ paints with the 1 EMA at BB does not mean a reversal..I've seen the thing repaint itself 20-30 pips later taking out my stops. What you've posted is a good way to mitigated that yes?
I want more brain power!
  • #2,919
  • Jul 18, 2013 6:54am Jul 18, 2013 6:54am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting lnorbi
{quote} I'm not sure... From one perspective, I'd tend to agree, everything you outlined seems 100% logical. On the more fundamental side, NY is just about to open, news will come as well, plus yesterday news were USD positive, and we're yet to see a significant impact...

Well I don't have the confidence that Eurusdd has but he names his targets regardless of news. News just accelerates it for him...

Until I build a level of confidence for myself I will not trade this live.
An expert is a man who has made all the mistakes which can be made
  • #2,920
  • Jul 18, 2013 6:59am Jul 18, 2013 6:59am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting cfdtaleong
{quote} A great help for the last guy in class thanks....I'm going back to square one and taking this bit by bit again. To square my understanding..just because ZZ paints with the 1 EMA at BB does not mean a reversal..I've seen the thing repaint itself 20-30 pips later taking out my stops. What you've posted is a good way to mitigated that yes?
hmm....

These posts will help:

http://www.forexfactory.com/showthread.php?p=6794806#post6794806
http://www.forexfactory.com/showthread.php?p=6794835#post6794835
An expert is a man who has made all the mistakes which can be made
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