{quote} What really blows my mind is that the thread founder will come in here about once a week or so, post a technically on point trade, that is a winner, and these people simply ignore it. Cognitive bias is an amazing thing to behold!
- #57,202
- Aug 22, 2013 11:06am Aug 22, 2013 11:06am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Three Dragons
I got back to my screen in time to take the sells after the 14:42 gmt high
As I was in a hurry to put some pips in the bank after being out all day, I entered off the 1m Dragon as well as the 5m Dragon.
As I have been saying for the last 18 months - here and elsewhere - and LF has recently been pointing out, the increase in tick volume is an alert to see what the PA is doing......and IF price is around "A Level" is more important.
AT 13:52 the low was at the R2 pivot - it was also the third low - and we had just seen an increase in tick volume - so be ready to buy. Then Buy 10 micros after the break of the 1m dragon has changed colour and Buy another 10 after the same happens at the 5m Dragon - remember we are trading a minimum of 1 mini / entry.
The next coloured volume bar was at the dashed green MR 3 level, where there was ~200 pips available.....or wait for the green WRB with higher volume at the **75 level - that was worth 440 (mini) pips.
The Lower High alerted us to the Sell as price broke the turned down 1m Dragon and another Sell as the 5m Dragon was broken.
The big increase in volumes ~15:07 suggested that its was time to bank ~270 pips
The more experienced traders will take earlier entries - BUT using the Three Dragons allows us to make an Objective set of Trading Rules that get us in early in any trend and ensures that any losses that we do take will be small.
I got back to my screen in time to take the sells after the 14:42 gmt high
As I was in a hurry to put some pips in the bank after being out all day, I entered off the 1m Dragon as well as the 5m Dragon.
As I have been saying for the last 18 months - here and elsewhere - and LF has recently been pointing out, the increase in tick volume is an alert to see what the PA is doing......and IF price is around "A Level" is more important.
AT 13:52 the low was at the R2 pivot - it was also the third low - and we had just seen an increase in tick volume - so be ready to buy. Then Buy 10 micros after the break of the 1m dragon has changed colour and Buy another 10 after the same happens at the 5m Dragon - remember we are trading a minimum of 1 mini / entry.
The next coloured volume bar was at the dashed green MR 3 level, where there was ~200 pips available.....or wait for the green WRB with higher volume at the **75 level - that was worth 440 (mini) pips.
The Lower High alerted us to the Sell as price broke the turned down 1m Dragon and another Sell as the 5m Dragon was broken.
The big increase in volumes ~15:07 suggested that its was time to bank ~270 pips
The more experienced traders will take earlier entries - BUT using the Three Dragons allows us to make an Objective set of Trading Rules that get us in early in any trend and ensures that any losses that we do take will be small.
Trading Levels with WRBs
- #57,204
- Aug 22, 2013 11:29am Aug 22, 2013 11:29am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #57,206
- Edited 12:54pm Aug 22, 2013 12:43pm | Edited 12:54pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} Cognitive dissonance is equally amazing...
Excellent! You nailed him! You're right on the money with that comment.
Having put him on IGNORE, I have a lot more time to trade in my most relaxed and most profitable manner. Initially, I thought him to be a decent person, but it turned out he is not. He is a very negative and mean spirited individual, and with illusions of grandeur, to boot. His body of posts have done so much to reveal he is of low character.
I am so thankful for the FF IGNORE feature, and glad to be rid of him. How wonderful life is without people like him around!
Thank You Twee!
-tah
- #57,207
- Aug 22, 2013 1:27pm Aug 22, 2013 1:27pm
- | Joined Nov 2011 | Status: the probability trader | 1,110 Posts
USDYEN 
Everything is possible!!! Step by Step...
- #57,208
- Aug 22, 2013 1:33pm Aug 22, 2013 1:33pm
Three Dragons I got back to my screen in time to take the sells after the 14:42 gmt high
Both you and TAH take the time and trouble to explain your thinking in a clear and concise way - this s what makes the thread valuable. I read your two papers on 3 dragons and from reading your posts am getting to grips with how you are applying, all very useful stuff. You are taking tighter trades than I normally would go for - I am inherently reluctant to trade counter trend as it just seems easier to me to wait for the bus to be going in the right direction before getting aboard but you live and learn. Have we seen convincing top formations in UJ today. Here's my analysis:
M15 shows no break of the lows and still shows more volume on dips. The highs are noticeably scant on volume. Other yen pairs seem to be going great guns so I don't think the yen is ready to turn yet.
H1 gives a good view of how this up run has paused after accelerating to reach previous resistance level. Bars not convincingly closing above that level but did break through leaving further scope for upside. There is a long term resistance higher up and I suspect this wedge being formed on Day chart may stiull see some ricochets before a breakout either way so at the moment my money is still on further upside tomorrow but I will wait tonights and tomorrows charts to see.
May not be at my desk tomorrow though....
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
- #57,210
- Aug 22, 2013 2:29pm Aug 22, 2013 2:29pm
- | Joined Nov 2011 | Status: the probability trader | 1,110 Posts
Everything is possible!!! Step by Step...
{quote} I have posted plenty of value, and Lucy and I said the EXACT same thing. All veteran traders will. You should do like the other newbies and use the ignore button. That way, your delicate sensibilities will not be offended any longer.
but I just can't seem to grasp what you are all about.
You seem to ignore the bulk of my message and pick and choose what
you want to attack.
I don't understand your purpose in being here. Why not spend time
on the thread you started, providing those readers with your wonderful
guidance instead of wasting it here on us?
And, I wouldn't exactly say I'm a newbie. I'm no expert by any means, but
I do know a thing or two.
I was trying my best to avoide the "ignore" route. You say you and
Lucy Furr say the same things, and maybe that's true. He manages to
say it without appearing to be "holier than though" and that makes a
world of difference. I tried to point that out to you a couple of times before,
but you always seem to overlook that part of the message.
Oh well....I give up.
{quote} VanDerTroll, Excellent! You nailed him! You're right on the money with that comment. Having put him on IGNORE, I have a lot more time to trade in my most relaxed and most profitable manner. Initially, I thought him to be a decent person, but it turned out he is not. He is a very negative and mean spirited individual, and with illusions of grandeur, to boot. His body of posts have done so much to reveal he is of low character. I am so thankful for the FF IGNORE feature, and glad to be rid of him. How wonderful life is without people like...
Normally I'd put him on ignore list too, but this behavior fascinates me. There's always something new on the Internet
- #57,217
- Aug 22, 2013 4:55pm Aug 22, 2013 4:55pm
Three Dragons I got back to my screen in time to take the sells after the 14:42 gmt high
- #57,218
- Aug 22, 2013 6:32pm Aug 22, 2013 6:32pm
Three Dragons I got back to my screen in time to take the sells after the 14:42 gmt high
