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HCR-LCS + SFP Research thread

  • #541
  • Aug 5, 2013 4:41am Aug 5, 2013 4:41am
another one...

Oskar
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  • #542
  • Aug 5, 2013 5:44am Aug 5, 2013 5:44am
This could be interesting.
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  • #543
  • Aug 5, 2013 5:47am Aug 5, 2013 5:47am
Just remembered that, I was supposed to wait for the daily close.

Probably, a psychological sabotage plan by my mind because of waiting for the entry.

Another reason to scan the charts Daily.
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  • #544
  • Aug 5, 2013 11:17am Aug 5, 2013 11:17am
Looking like it may work out.
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  • #545
  • Aug 5, 2013 3:02pm Aug 5, 2013 3:02pm
Hi guys!

Just having a quick question on the following EURJPY chart.

What I saw:
-We had a strong trend (black line) and it was broken. Fantastic.
-We had then this minor PPZ (green line which was an ex-HCR.
-We had this nice 130 MAJOR BRN. Broken as well.
-We got this mini Pinnish inside bar. As I have looked through some IBs the last month this shape is the best for sort. (Yeah however the size is of the former bearish bar is not that great but whatever....

-My FTA would have been the pink zone. Bar lows etc.

Price broke and then in 2 days i got out in a lost. (My SL was just above that minor swing low, so it was not taken on the next day.)

Or it was simply a "shit happens" trade?...

Thanks
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It's all psychology...
  • #546
  • Aug 5, 2013 3:46pm Aug 5, 2013 3:46pm
Quoting LamerTrader
Hi guys! Just having a quick question on the following EURJPY chart. What I saw: -We had a strong trend (black line) and it was broken. Fantastic. -We had then this minor PPZ (green line which was an ex-HCR. -We had this nice 130 MAJOR BRN. Broken as well. -We got this mini Pinnish inside bar. As I have looked through some IBs the last month this shape is the best for sort. (Yeah however the size is of the former bearish bar is not that great but whatever.... -My FTA would have been the pink zone. Bar lows etc. Price broke and then in 2 days i got...
Hi,
first of all, you need to understand the environment you are placing the trade in. Price doesn't trend as you wrote, actually it is the opposite, we are stuck in a choppy consolidated environment (see the big pink box) full of trouble areas and no space for price to run into. Now, your entry is initiated by a weak break of the so-so trendline. In such kind of a setup there is really very few things on our side, so the risk management should be trated accordingly = tight. Notice the small white box and its PPZ that runs in the middle of it, this held as support (although price was able to close below, but it was very weak close). Then price made it almost to the FTA = middle of the bigger pink box - it was the right moment to reduce risk rapidly.

Oskar
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  • #547
  • Aug 5, 2013 4:27pm Aug 5, 2013 4:27pm
Quoting Oscarossa
{quote} Hi, first of all, you need to understand the environment you are placing the trade in. Price doesn't trend as you wrote, actually it is the opposite, we are stuck in a choppy consolidated environment (see the big pink box) full of trouble areas and no space for price to run into. Now, your entry is initiated by a weak break of the so-so trendline. In such kind of a setup there is really very few things on our side, so the risk management should be trated accordingly = tight. Notice the small white box and its PPZ that runs in the middle...
Thanks!

Yeah zooming out would have helped lol. After zooming out that IB seems ridiculously small
I guess I should stop trading for 90 pips or less than Daily ATR on Daily TF... OR the setup has to be GOOD!

Maybe If i had the opportunity to follow the trade on H1. I would have seen some interesting stuff
We had a swing low, which was tested and then closed above as a pin (Yeah I know it didn't close in prior bar (First indication of weakness) - However It was not sticking out much. So I might say its okay.
But then price tried to break out from this H1 consolidation box. And guess what - either some news came out, but we formed a BUOB. (Technically not a buob cause bullish bar doesn't engulfs it properly but still) - We all know the order flow behind. If we combine these 2 bars what do we get? A nice pin bar which is just sicking out as it should... Thats where I should have moved to BE...

I dunno maybe im just seeing things cause its late here but price literally does what it has to do. I mean goes above daily close, does not find support, so it goes back to BRN, tests it - look at those pinbars - and then It breaks the D HCR again, finds support on the double EMAs... And then shoots back.

+1 QUESTIOn
I think my EMAs are switching accordingly to my TF. Although I have seen jarroo using multi TF EMAs. Which one should I use - I mean is my statement valid as I say price found support on 1H EMAs or noone give a sh*t about H1 EMAs cause ppl tend to look for higher TF EMAs...

Thanks guys.
Its almost noon here... Better off to bed
Cheers,
Stephen
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It's all psychology...
  • #548
  • Edited Aug 6, 2013 12:20am Aug 5, 2013 11:29pm | Edited Aug 6, 2013 12:20am
Quoting Oscarossa
{quote} Hi, first of all, you need to understand the environment you are placing the trade in. Price doesn't trend as you wrote, actually it is the opposite, we are stuck in a choppy consolidated environment (see the big pink box) full of trouble areas and no space for price to run into. Now, your entry is initiated by a weak break of the so-so trendline. In such kind of a setup there is really very few things on our side, so the risk management should be trated accordingly = tight. Notice the small white box and its PPZ that runs in the middle...
Hey Oscar, How do you manage to trade in that birdcage.
My charts were like that years ago and, I had problems believing in any of the lines drawn on the chart.
Nearly drove me crazy.

I like to make mental notes of the PPZ on the daily TF as, we can actually see them quite clearly, around current price.
Yeah, I may use the rectangle tool to mark them if I am in a trade and looking for an FTA or STA
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  • #549
  • Edited 1:14am Aug 6, 2013 12:58am | Edited 1:14am
Looks like part of the bigger picture to me.

Let's see what Ghous thinks about this possible scenario.
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  • #550
  • Aug 6, 2013 1:37am Aug 6, 2013 1:37am
Hi Pinbar!

How do you draw normal rectangles on your chart? (Where only the lines of the rectangle are visible?
BTW you were right - after watching more jarroo videos jarroo DOES usually wait for 4H 1H PA confirmation and he might close out if a 1H (or a 4H) closes below.
However as I see this trading style requires full attention - aka sitting in front of PC (to wait for 1H confirmation, to manage trade when the first High/Low was hit - maybe reenter etc...

PS:
Could you answer my question about the EMAs and Multi TF EMAs?
Thanks.

Have a nice day guys!

Stephen
It's all psychology...
  • #551
  • Aug 6, 2013 2:25am Aug 6, 2013 2:25am
Quoting LamerTrader
Hi Pinbar! How do you draw normal rectangles on your chart? (Where only the lines of the rectangle are visible? BTW you were right - after watching more jarroo videos jarroo DOES usually wait for 4H 1H PA confirmation and he might close out if a 1H (or a 4H) closes below. However as I see this trading style requires full attention - aka sitting in front of PC (to wait for 1H confirmation, to manage trade when the first High/Low was hit - maybe reenter etc... PS: Could you answer my question about the EMAs and Multi TF EMAs? Thanks....
I have never seen Jarroo using MTF EMAs.

You can just draw them in Paint or, you can remove the "Draw as background" check in the rectangle properties and it will give you the outline.
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  • #552
  • Aug 6, 2013 3:06am Aug 6, 2013 3:06am
Quoting Pinbar
{quote} Hey Oscar, How do you manage to trade in that birdcage. My charts were like that years ago and, I had problems believing in any of the lines drawn on the chart. Nearly drove me crazy...

Hi Pinbar,
honestly, I try to simply avoid it.

Oskar
  • #553
  • Aug 6, 2013 12:34pm Aug 6, 2013 12:34pm
Quoting Pinbar
Looks like part of the bigger picture to me. Let's see what Ghous thinks about this possible scenario. {image}
Agreed. Price is still pretty much caught up in the wedge and there isn't much fun trying to decipher what its doing while its in it. Of course things get interesting when price decides to break out or fake out.

g.
I believe . . .
  • #554
  • Aug 6, 2013 7:35pm Aug 6, 2013 7:35pm
Quoting ghous
{quote} Agreed. Price is still pretty much caught up in the wedge and there isn't much fun trying to decipher what its doing while its in it. Of course things get interesting when price decides to break out or fake out. g.

Thanks Ghous

Just cut #SQ3 loose for a loss, after the close below the level.

It was going against that massive Monthly BEOB albeit at a SL.
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  • #555
  • Aug 6, 2013 8:39pm Aug 6, 2013 8:39pm
Ghous

I am thinking our reasoning for passing on a trade are equally if not more important as the reasons to take a trade.

The charts shows, why I am not considering this one.

Your comments on my logic, both good and bad, are greatly welcome.
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  • #556
  • Aug 7, 2013 5:11am Aug 7, 2013 5:11am
Quoting Pinbar
Ghous I am thinking our reasoning for passing on a trade are equally if not more important as the reasons to take a trade. The charts shows, why I am not considering this one. Your comments on my logic, both good and bad, are greatly welcome. {image}
It behaved as I thought it would. The daily has yet to close but, even if it closed below the SP, I will pass.
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  • #557
  • Aug 7, 2013 10:30am Aug 7, 2013 10:30am
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  • #558
  • Aug 7, 2013 3:01pm Aug 7, 2013 3:01pm
Quoting Pinbar
Just remembered that, I was supposed to wait for the daily close. Probably, a psychological sabotage plan by my mind because of waiting for the entry. Another reason to scan the charts Daily. {image}
Honestly bro I am not too sure what triggered that trade for you.

g.
I believe . . .
  • #559
  • Aug 7, 2013 3:02pm Aug 7, 2013 3:02pm
Quoting Pinbar
Ghous I am thinking our reasoning for passing on a trade are equally if not more important as the reasons to take a trade. The charts shows, why I am not considering this one. Your comments on my logic, both good and bad, are greatly welcome. {image}
Very true. Nicely spotted deficiencies on that one. Lack of space was a BIG deterring factor there.

g.
I believe . . .
  • #560
  • Aug 7, 2013 3:05pm Aug 7, 2013 3:05pm
Quoting kerinsp
{image}
Me Likes it!

g.
I believe . . .
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