Islander and Medici trade the European open | Page 219 | Forex Factory

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Islander and Medici trade the European open

  • #4,361
  • Dec 19, 2013 2:27am Dec 19, 2013 2:27am
That's some great advice, cheers Islander, it's much appreciated.
  • #4,362
  • Dec 20, 2013 4:37am Dec 20, 2013 4:37am
When my usual FX contracts go into tight ranges I take a look at the DAX.....
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Trading Levels with WRBs
  • #4,363
  • Jan 3, 2014 8:31am Jan 3, 2014 8:31am
Quoting Islander
{quote} As cable was flat into FO, I waited until mid FH when it started to rally and then bought. My exit was similar to yours - out in the WRB with high volume - apart from MR 1 I also have a S&R level 4 pips higher so the push up was close enough for me too {image}

Hi Islander

Just want to ask how important you feel the 5min Stoch is compared to what your MA's are doing.

What I mean is obviously you have the indicator that you feel is the most important and the start of the process for getting into the market.

How important is what indicator to you? (I know the the PA is the most important but after that)

Do mind sharing this indicator for showing the opens of Europe and London please.

Thanks for the help.

Rooi
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We miss 100% of the shots we don't take
  • #4,364
  • Jan 3, 2014 10:10am Jan 3, 2014 10:10am
Hi Captain,

I have been experimenting with the 3 Dragons system and I am impressed. A key strength (for me) is certainly M1 entry. At the moment however we are talking "scalping" pips as I have not been able to determine exit conditions. The M1 dragons turning up/stochs indicators don't allow me to keep in with a good trade for too long. Do you have any thoughts - say looking at longer TFs? I always try to trade in the direction of the M15 screen. Possibly the M5 setup can help here... I would appreciate any thoughts.

Happy New Year pirating pips

Figgsey
  • #4,365
  • Jan 3, 2014 10:13am Jan 3, 2014 10:13am
Quoting figgsey
Hi Captain, I have been experimenting with the 3 Dragons system and I am impressed. A key strength (for me) is certainly M1 entry. At the moment however we are talking "scalping" pips as I have not been able to determine exit conditions. The M1 dragons turning up/stochs indicators don't allow me to keep in with a good trade for too long. Do you have any thoughts - say looking at longer TFs? I always try to trade in the direction of the M15 screen. Possibly the M5 setup can help here... I would appreciate any thoughts. Happy New Year pirating pips...
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  • #4,366
  • Jan 5, 2014 9:32am Jan 5, 2014 9:32am
Quoting Rooi
{quote} Hi Islander Just want to ask how important you feel the 5min Stoch is compared to what your MA's are doing. What I mean is obviously you have the indicator that you feel is the most important and the start of the process for getting into the market. How important is what indicator to you? (I know the the PA is the most important but after that) Do mind sharing this indicator for showing the opens of Europe and London please. Thanks for the help. Rooi {image}
Hi - the use of the 5m & 15m stochs on the 1m chart are as set out by RJ in the Genesis thread. For me, I want to see the 5m "opening" in the direction of the trade with the 15m at least flat / starting to open. I use the 30 as an additional filter, it too must be flat or starting to slope in the entry direction.

Here's the "open lines" indy....
Attached File(s)
File Type: ex4 Trading Session vLines.ex4   8 KB | 256 downloads
Trading Levels with WRBs
  • #4,367
  • Jan 5, 2014 9:44am Jan 5, 2014 9:44am
Quoting figgsey
Hi Captain, I have been experimenting with the 3 Dragons system and I am impressed. A key strength (for me) is certainly M1 entry. At the moment however we are talking "scalping" pips as I have not been able to determine exit conditions. The M1 dragons turning up/stochs indicators don't allow me to keep in with a good trade for too long. Do you have any thoughts - say looking at longer TFs? I always try to trade in the direction of the M15 screen. Possibly the M5 setup can help here... I would appreciate any thoughts. Happy New Year pirating pips...
Thanks and a Happy and Prosperous New Year to you too

I agree, the initial 3D as I set it out in Sonic's thread was IMO too subjective, hence I added the MTF stochs and Matrix from the Genesis thread (and had to stop posting in Sonic's thread as he does not allow the addition of any indicators) and these indicators allowed me to work out a subjective set of entry rules.

However, I also was unhappy with my exits as I often left to much on the table and thus I have been looking with great interest a Alien's Visual MTF approach which offers almost identical 1m entries, but has I believe - this is "work-in-progress" - the potential to lead the way to holding trades for longer.......TWT

I'll post some charts to show this during the week

Regards

Islander
Trading Levels with WRBs
  • #4,368
  • Jan 5, 2014 10:17am Jan 5, 2014 10:17am
Quoting Islander
{quote} Hi - the use of the 5m & 15m stochs on the 1m chart are as set out by RJ in the Genesis thread. For me, I want to see the 5m "opening" in the direction of the trade with the 15m at least flat / starting to open. I use the 30 as an additional filter, it too must be flat or starting to slope in the entry direction. Here's the "open lines" indy.... {file}

Thank you
We miss 100% of the shots we don't take
  • #4,369
  • Jan 5, 2014 10:37am Jan 5, 2014 10:37am
Quoting Islander
{quote} Thanks and a Happy and Prosperous New Year to you too I agree, the initial 3D as I set it out in Sonic's thread was IMO too subjective, hence I added the MTF stochs and Matrix from the Genesis thread (and had to stop posting in Sonic's thread as he does not allow the addition of any indicators) and these indicators allowed me to work out a subjective set of entry rules. However, I also was unhappy with my exits as I often left to much on the table and thus I have been looking with great interest a Alien's Visual MTF approach which offers...
Hi Captain,

Thanks, and I look forward to taking a look at the charts.

One interesting observation is that an excellent breakout occurred at the lower TFS, inconsistent with the Sonic Thread dragon at 1Hr. Reading volumes (PVA) is tricky at the low TFs BTW. The HA candles do indeed work well too..

Best
Figgsey
  • #4,370
  • Edited 3:09am Jan 6, 2014 2:59am | Edited 3:09am
Happy New year. Decided to give the Yen crosses a try out. The signal did come for EU but I had been stalking EJ for a good while & the signal came earlier. Entry was after more high vol post-LO & the matrix was positive across the board on m5 & m1. I exited the trade at RR 2:1 after an increase in volume & 2 WRBs in a row.
Attached Image
  • #4,371
  • Jan 6, 2014 3:16am Jan 6, 2014 3:16am
GM - here's what I changed to, based on Alien's work which I'm hoping will show the way to pirating more pips from the ID swings aka Waves in Alienspeak....

I took half off for 50 pips......there's a good Pdf in Alien's thread that will answer many questions....
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Trading Levels with WRBs
  • #4,372
  • Jan 6, 2014 3:26am Jan 6, 2014 3:26am
Howdy Islander, I see you entered at 7:55. Were you happy with the volume at that point or was that secondary to your decision to enter? Are you giving more credence to Aliens indys? Cheers.
  • #4,373
  • Edited 3:58am Jan 6, 2014 3:38am | Edited 3:58am
Quoting Sober_Colm
Howdy Islander, I see you entered at 7:55. Were you happy with the volume at that point or was that secondary to your decision to enter? Are you giving more credence to Aliens indys? Cheers.
I mainly use volume for help with exits, so I didn't consider it - also, still in FH....

Alien's use of the 21,10,10 stoch - green / red in the top indy window combined with RSIOMA - dk blue in the 2nd window and the Advanced ADX histogram seem to give a lot of otherwise hidden info vs the matrix's "on / off" signal - work in progress....

PS remember to think of ADX as a kind of "power meter"
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Trading Levels with WRBs
  • #4,374
  • Jan 6, 2014 12:50pm Jan 6, 2014 12:50pm
Quoting Islander
GM - here's what I changed to, based on Alien's work which I'm hoping will show the way to pirating more pips from the ID swings aka Waves in Alienspeak.... I took half off for 50 pips......there's a good Pdf in Alien's thread that will answer many questions.... {image}
Hi Islander,

I have some more interesting and good observations I would like to run by you..

- Major short term Swings: focus on the M15 screen
- Regardless of longer trends enter trades from M1 setup of rising/falling stochs and price lows.
- M5 used best to confirm scalp potential...

Am I missing anything significant.?
And what/how (if at all) do you look at longer TFs to trade the trend as opposed to daily/M15 swing?

I'll take a look at the Alien, cheers
  • #4,375
  • Edited 3:40am Jan 7, 2014 3:27am | Edited 3:40am
Quoting figgsey
{quote} Hi Islander, I have some more interesting and good observations I would like to run by you.. - Major short term Swings: focus on the M15 screen - Regardless of longer trends enter trades from M1 setup of rising/falling stochs and price lows. - M5 used best to confirm scalp potential... Am I missing anything significant.? And what/how (if at all) do you look at longer TFs to trade the trend as opposed to daily/M15 swing? I'll take a look at the Alien, cheers
Hi - as I'm just ID trading during the European Session, I use the 5m for the main ID swings with entries off the 1m and the 15m chart for an overview for S&R levels etc.

I've changed to Alien's set up as it offers more - and earlier - info than the Genesis that I was using. Also, the thread is more active with analysis on the higher TFs too

I will now focus on GJ & EJ thus will also monitor UJ, EU & GU. The current 10 day ADRs are € 84; GU 97; EJ 103 & GJ 142....
Trading Levels with WRBs
  • #4,376
  • Jan 7, 2014 3:39am Jan 7, 2014 3:39am
Posted earlier......so far, not much on offer and I prefer to lock in 15 / 20 pips - its easy to get back in.....
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Trading Levels with WRBs
  • #4,377
  • Jan 7, 2014 3:46am Jan 7, 2014 3:46am
FYI, my second monitor
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Trading Levels with WRBs
  • #4,378
  • Jan 7, 2014 3:49am Jan 7, 2014 3:49am
I took a look at Alien's system(s) & took some of what you said into account. Waiting for all the stochs to line up with the matrix system can be frustrating so this morning on EJ on having the m30 stoch (my staple) looking good, when the m5 stoch crossed & turned & the matrix looked good I entered without waiting for the m15 stoch to be in favour too as the RSIOMA had just crossed the 50 & was heading south after a bb squeeze. Entry was at 7:33 GMT. For the exit I waited for ADX to fade just before LO (which happened to be at DPV anyway). Out at 7:59 for rr 1:1 (threw away half of that accidentally entering EU long in the leadup to the German data, wasn't paying attention; exited before the data when I realised the mistake).

Way more action in the Yen crosses, I may park EU & GU for a while, thanks for the pointer.
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  • #4,379
  • Jan 7, 2014 3:55am Jan 7, 2014 3:55am
@ Dr Scalpall, figgsey, Rooi & SoberColom.....if you guys would like my word doc copying Alien's posts please send me a PM with your email.....
Trading Levels with WRBs
  • #4,380
  • Jan 7, 2014 4:08am Jan 7, 2014 4:08am
Quoting Sober_Colm
I took a look at Alien's system(s) & took some of what you said into account. Waiting for all the stochs to line up with the matrix system can be frustrating so this morning on EJ on having the m30 stoch (my staple) looking good, when the m5 stoch crossed & turned & the matrix looked good I entered without waiting for the m15 stoch to be in favour too as the RSIOMA had just crossed the 50 & was heading south after a bb squeeze. Entry was at 7:33 GMT. For the exit I waited for ADX to fade just before LO (which happened to be at DPV anyway). Out at...
I too use the M30 stoch as my main filter - its the Dark Orchid line on my charts. That and restricting entries to the 1m 25ema +/- 4 pip band does wonders for keeping me out of trouble ......more chop than in a butchers shop this morning - understandable after GJs excellent swings yesterday.....
Trading Levels with WRBs
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