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123PatternsV6 revisited

  • #881
  • Oct 29, 2013 9:58am Oct 29, 2013 9:58am
Thank's very much
  • #882
  • Oct 29, 2013 9:59am Oct 29, 2013 9:59am
No news but in this period the euro is stops running full!!
  • #883
  • Oct 29, 2013 1:47pm Oct 29, 2013 1:47pm
Dee I don't see in your charts pivot daily weekly or montly
Not are they important for you?
thanks
  • #884
  • Oct 29, 2013 2:01pm Oct 29, 2013 2:01pm
Quoting armyda
Dee I don't see in your charts pivot daily weekly or monthly. Are they not important for you? thanks
I stopped using them about 12 months ago, and concentrate more on the S&R levels. There was some research done on the effectiveness of Pivots I can not find it at the moment but I will try and find it tomorrow, it is supper time here.
Cut your Losers short and let your Winners run.
  • #885
  • Oct 29, 2013 2:14pm Oct 29, 2013 2:14pm
thanks
  • #886
  • Oct 30, 2013 5:55am Oct 30, 2013 5:55am
Quoting dee50
{quote} I stopped using them about 12 months ago, and concentrate more on the S&R levels. There was some research done on the effectiveness of Pivots I can not find it at the moment but I will try and find it tomorrow, it is supper time here.
I found what I was looking for. Here is a link to that post.


http://www.forexfactory.com/showthre...60#post6128560

Also.

http://www.investopedia.com/articles...#axzz282lnHUbg
Cut your Losers short and let your Winners run.
  • #887
  • Oct 30, 2013 8:45am Oct 30, 2013 8:45am
thankyou Dee so much
  • #888
  • Oct 31, 2013 12:59pm Oct 31, 2013 12:59pm
what a messy day for EU !
  • #889
  • Nov 1, 2013 12:29am Nov 1, 2013 12:29am
EU +88. Yesterdays EU trade, straight forward 123 entry signaled on the 1hr and 15min. There where 2 possible targets, confluence of the 200% Exp and BRN 1.3500 or confluence of the 78% Fib Ret and BRN 1.3550, I opted for the first because there was a S&R level just below. Easy choice for the trade just look at the angle of the TDI and the MAs showing very strong downward momentum.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +88 31 10.png Size: 51 KB
Cut your Losers short and let your Winners run.
  • #890
  • Nov 1, 2013 12:58am Nov 1, 2013 12:58am
Quoting dee50
EU +88. Yesterdays EU trade, straight forward 123 entry signaled on the 1hr and 15min. There where 2 possible targets, confluence of the 200% Exp and BRN 1.3500 or confluence of the 78% Fib Ret and BRN 1.3550, I opted for the first because there was a S&R level just below. Easy choice for the trade just look at the angle of the TDI and the MAs showing very strong downward momentum. {image}
Good way to go Dee , can you please tell me what did I wrong here ?
Thanks
Attached Image (click to enlarge)
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  • #891
  • Nov 1, 2013 3:33am Nov 1, 2013 3:33am
Quoting geomoon
{quote} Good way to go Dee , can you please tell me what did I wrong here ? Thanks
Here this might help.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 148 KB
Cut your Losers short and let your Winners run.
  • #892
  • Nov 1, 2013 3:44am Nov 1, 2013 3:44am
EU looks compelling for a CT trade, we have 15 min very nice Pin Bar at support with divergence, BUT the 1hr does not agree, so I will wait for confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: EU compelling.png Size: 40 KB
Cut your Losers short and let your Winners run.
  • #893
  • Nov 1, 2013 5:11am Nov 1, 2013 5:11am
Quoting dee50
{quote} Here this might help. {image}



my reasons were, 123 off support and off BRN, TDI on 15M were green over red over MBL, 1H TDI also were crossed up at that time but below MBL.
I know that this is a CT and have a higher risk than with the trend but in many cases CT trades went fine,I found that CT are fine when there is a trading range not when a strong trend starts to roll, as you said there were a lot of broken Pin bars later that were broken which indicates that CT trades are not advisable at that time
Thanks to the help Dee.
Cheers
  • #894
  • Nov 1, 2013 5:45am Nov 1, 2013 5:45am
Quoting dee50
EU looks compelling for a CT trade, we have 15 min very nice Pin Bar at support with divergence, BUT the 1hr does not agree, so I will wait for confirmation. {image}
Hi Dee,

Would you have considered this one on EJ?
1 hr inside bar with bullish divergence at the 61.8 retrace of the move up from 8th Oct to 22nd Oct.
Also 132.627 support from 15th Oct low.

15 min retraced but did not close below the 78.6%. Didn't make it back to the previous high but possibly good for 20?
Attached Image (click to enlarge)
Click to Enlarge Name: ej_20130111_h1_m15.png Size: 100 KB
Follow, don't anticipate.
  • #895
  • Edited 8:01am Nov 1, 2013 7:50am | Edited 8:01am
Quoting Ian
{quote} Hi Dee, Would you have considered this one on EJ? 1 hr inside bar with bullish divergence at the 61.8 retrace of the move up from 8th Oct to 22nd Oct. Also 132.627 support from 15th Oct low. 15 min retraced but did not close below the 78.6%. Didn't make it back to the previous high but possibly good for 20? {image}
Patience would have paid off (it is Friday!).

Y's low, fib exp 161.8 and the 4 hour 200 ema.
Attached Image (click to enlarge)
Click to Enlarge Name: ej_20130111_m15.png Size: 31 KB
Follow, don't anticipate.
  • #896
  • Nov 2, 2013 6:19am Nov 2, 2013 6:19am
Quoting Ian
{quote} Patience would have paid off (it is Friday!). Y's low, fib exp 161.8 and the 4 hour 200 ema. {image}

Hi Ian sorry I did not respond. You are right waiting for a better entry did pay off. +35. Here is what I saw. I am not a big fan of Inside Bars and I prefer to see the TDI come out of the OB/OS areas, also I do not take any notice of divergences that occur inside the OB/OS zones, part of the divergence has to be outside the zone especially after such a strong and determined move.

Also
UJ +40. A BPC entry after short term S&R level broken confirming continuation of the longer term trend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ +35 1 11.png Size: 28 KB
Click to Enlarge Name: UJ +40 1 11.png Size: 31 KB
Cut your Losers short and let your Winners run.
  • #897
  • Nov 2, 2013 6:30am Nov 2, 2013 6:30am
Quoting dee50
EU looks compelling for a CT trade, we have 15 min very nice Pin Bar at support with divergence, BUT the 1hr does not agree, so I will wait for confirmation. {image}

I am disappointed, I had hoped that some one would challenge me and even slap my wrist for considering a CT trade in such a strong down trend. The term "Catch a Falling Knife" has been used often. However, caution was justified when another Pin Bar confirmed reversal back into trend. I did not take that signal because Support 1.3500 was only 20 pips away and the candles were getting smaller, there was also a rumor of a large offer at the Bid at 1.3500 which had the potential to turn around and bite you on the arse.
Cut your Losers short and let your Winners run.
  • #898
  • Nov 2, 2013 6:39am Nov 2, 2013 6:39am
My new avatar.
Attached Image
Cut your Losers short and let your Winners run.
  • #899
  • Nov 3, 2013 1:15am Nov 3, 2013 1:15am
Quoting dee50
{quote} I am disappointed, I had hoped that some one would challenge me and even slap my wrist for considering a CT trade in such a strong down trend. The term \"Catch a Falling Knife\" has been used often. However, caution was justified when another Pin Bar confirmed reversal back into trend. I did not take that signal because Support 1.3500 was only 20 pips away and the candles were getting smaller, there was also a rumor of a large offer at the Bid at 1.3500 which had the potential to turn around and bite you on the arse.
Common Dee , usually you are the one who slaps on the rest here , beside you already slapped your rest and said WAIT.........
Some say you have to lend me that crystal ball that you have and we'll make Voodoo session together......
Cheers
  • #900
  • Nov 3, 2013 1:15am Nov 3, 2013 1:15am
Quoting dee50
My new avatar. {image}
Cool !
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