Mastering the Art of Trading

Quoting lenrod

Disliked

{quote} IMO it isn't a good setup FTA is near and USDJPY today broke the upper TL, sorry now I can't upload a chart to show what I mean. btw I'd be careful shorting now JPY crosses. Just my opinion though

Ignored

Quoting ghous

Disliked

{quote} Not really. It actually means the end of the trade for us as the stop goes beyond the fake out high/low anyway lol. But what I mean is, that price merely breaking the high/low of the fake out bar isn't enough to trigger a solid signal for the fake out failing. It might mean an end to a trade, but a trade remember, stems from a system, and a system simply extracts its merits from generalizations and elements of a market phenomena that are consistent and repeatable. Getting back to the point, Price may break the fake out high/low yet still...

Ignored

Quoting MisterSpread

Disliked

Awesome job, nice read and great knowledge from the thread ! Kudos to everyone who is helping out here ! Ghous, I have a question regarding EURUSD : I'm trading using RSI and Fibonacci Levels, and based on those EURUSD still has room to drop until 1.29300 at least. I entered this trade short at 1.33100, in your opinion when is a good exit point ? Regards, VladG {image}

Ignored

Quoting ghous

Disliked

Here we go: http://vimeo.com/73694161 I think I could have done a lot better but it is pretty tough first doing the video then having to watch through the lengthy rendering/production process and then the uploading process. Anyways I am sure it will be of some help. I cover the more general logic behind waiting for multiple confirmations on the lower time frames and then go into the specific setups that some of you guys posted here on the thread. I would have so dearly liked to have the video embedded like the You tube videos but I guess...

Ignored

Quoting Pinbar

Disliked

{quote} You did a great job on that video Ghous &, it is very, very informative. Actually, right now, I am trying to use this information and apply it to the GBP/CHF setup. One question though, you say, the H4 tf has less information that the daily but, is it not possible that we consider the fact that if we see more H4 bars reacting favorably to level, that we actually have smaller bits of information but actually more information? Like a jigsaw puzzle, once you get the main blocks in place the larger picture starts to fall into place....

Ignored

Quoting KOS-fx

Disliked

{quote} Dear PIN, Let me ask question..... Are you only waiting this H4 bar to hit on the HHR?????. Then you can wait there with a pending limit order or How about entering after little bit of a momentem like H4 engulfing bar or Inside bar breakout Kos

Ignored

Quoting ghous

Disliked

{quote} Always analyze your trades in 3 domains: 1) The location (Round numbers, MAs, depth of swing points and other confluence factors) 2) The bar (the longer the wick the better) 3) The space for the trade to move into (FTA not being too close to make trade management a pain) g.

Ignored

Quoting anthm

Disliked

{quote} Above Just to quote Ghous from post number 84. It seems to me everything is in place according to the Fake out set up for entry. I see you pinbar waiting for extra confirmation, probably a great idea, as I am in the trade already (simulated) is suspect it will go north

Ignored

Quoting MisterSpread

Disliked

Awesome job, nice read and great knowledge from the thread ! Kudos to everyone who is helping out here ! Ghous, I have a question regarding EURUSD : I'm trading using RSI and Fibonacci Levels, and based on those EURUSD still has room to drop until 1.29300 at least. I entered this trade short at 1.33100, in your opinion when is a good exit point ? Regards, VladG {image}

Ignored

Quoting Pinbar

Disliked

{quote} You did a great job on that video Ghous &, it is very, very informative. Actually, right now, I am trying to use this information and apply it to the GBP/CHF setup. One question though, you say, the H4 tf has less information that the daily but, is it not possible that we consider the fact that if we see more H4 bars reacting favorably to level, that we actually have smaller bits of information but actually more information? Like a jigsaw puzzle, once you get the main blocks in place the larger picture starts to fall into place....

Ignored

Quoting ghous

Disliked

{quote} hey there, What was the reason for your entry 1.331? Anyway, for me, the 1.32 would be the decision point. I would have my stop stacked above it. g.

Ignored

Quoting ebabra

Disliked

EURAUD H4 Long Trade possible Setup Hi all, watching EURAUD, PA around LLS, for possible fakeout setup, i will enter only if i have confirmation retest ... Comments appreciated {image}

Ignored

Quoting MisterSpread

Disliked

{quote} Hi ebabra, In my opinion looking at H4 + Daily chart EURAUD has still room to drop until 1.43870, which is the 3rd support and as you will see from my Daily chart is the FlatTop of the Ichimoku Kumo or Cloud. That point for me is very important because if it will be breached it will creat a huge down move towards KijunSen on weekly, who is sittuated around 1.36ish. Also the RSI is badly directed so be careful with the entries because is triky ! {image} {image}

Ignored

Quoting ebabra

Disliked

{quote} Thanks MS. for reply I am also waiting to see the reaction to 1.4400, which is not far from your level, so far no reaction to LLS, ...

Ignored

Quoting ghous

Disliked

{quote} Yes you are totally right and that's actually the point I was making in that video. I said "less information" not in general times but specifically in the instance where you decide to go short/long off a 4H fake out bar directly on the close. Waiting for multiple bars is exactly what I propose in the video as that then provides you with more information to base your decision on. g.

Ignored