Islander and Medici trade the European open | Page 222 | Forex Factory

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Islander and Medici trade the European open

  • #4,421
  • Jan 13, 2014 6:41am Jan 13, 2014 6:41am
Quoting Islander
A Genesis view....
Can I please ask what T3 setting you have m1 in the matrix? Mine is 8 periods but it never really changes & I completely disregard it as a signal at this stage.
  • #4,422
  • Jan 13, 2014 6:49am Jan 13, 2014 6:49am
Its the standard setting, but IF you are looking back more than ~ a few hours you will need to add more to the "look back" period in the properties box, otherwise the T3 line fixes
Trading Levels with WRBs
  • #4,423
  • Jan 13, 2014 6:55am Jan 13, 2014 6:55am
Quoting Islander
Its the standard setting, but IF you are looking back more than ~ a few hours you will need to add more to the "look back" period in the properties box, otherwise the T3 line fixes
Thanks. Even in the here & now the standard setting doesn't give me a similar output to yours but anyway, I don't feel I need it at present with Alien's indicators doing their job.
  • #4,424
  • Jan 13, 2014 7:00am Jan 13, 2014 7:00am
Quoting Sober_Colm
{quote} Thanks. Even in the here & now the standard setting doesn't give me a similar output to yours but anyway, I don't feel I need it at present with Alien's indicators doing their job.
that's strange, I'm using the GM2.21_nrp version.....I'm not actually using it on the 1m chart - I posted that for a Genesis member.....

BTW, I've got UJ showing long, so I'm waiting to see IF cable or fibre join in.....
Trading Levels with WRBs
  • #4,425
  • Jan 13, 2014 7:31am Jan 13, 2014 7:31am
GU 15m & 5m still signalling short, first 1m signal of this wave at 11:29, a better one at 11:23 and again at 13:01 and now I'm waiting to see some +ve divergence in the TVI before closing.....
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Trading Levels with WRBs
  • #4,426
  • Jan 13, 2014 7:43am Jan 13, 2014 7:43am
Wow - some drop into a WRB with very high volume, TVI divergence all at the MS2 - I guess that's a rather good hint to bank, especially with todays range now at 147 pips
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Trading Levels with WRBs
  • #4,427
  • Jan 13, 2014 7:50am Jan 13, 2014 7:50am
Islander, can you share your template please ?

Take +47pips on gbpjpy !
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Trade Safe !
  • #4,428
  • Jan 13, 2014 8:03am Jan 13, 2014 8:03am
Quoting Goodgame42
Islander, can you share your template please ? Take +47pips on gbpjpy ! {image}
Nice trade and sorry, I prefer that traders work up their own templates as it leads to a better understanding and thus reduces inexperienced questions - all of the indicators have already been posted....
Trading Levels with WRBs
  • #4,429
  • Jan 13, 2014 8:58am Jan 13, 2014 8:58am
Quoting Islander
A Genesis view.... {image}
Looks good, IT problems has meant no trades so far today. But I will be looking at the M15 trend analysis.
  • #4,430
  • Jan 13, 2014 9:13am Jan 13, 2014 9:13am
Quoting Islander
{quote} that's strange, I'm using the GM2.21_nrp version.....I'm not actually using it on the 1m chart - I posted that for a Genesis member..... BTW, I've got UJ showing long, so I'm waiting to see IF cable or fibre join in.....
LOL - I got too involved elsewhere and missing UJ rolling over just after NYO 1 - that made a great GJ short for ~150 pips....
Trading Levels with WRBs
  • #4,431
  • Jan 13, 2014 9:15am Jan 13, 2014 9:15am
Quoting figgsey
{quote} Looks good, IT problems has meant no trades so far today. But I will be looking at the M15 trend analysis.
they drive me nuts too - just look forward to tomorrow.....
Trading Levels with WRBs
  • #4,432
  • Jan 13, 2014 12:32pm Jan 13, 2014 12:32pm
Quoting Islander
{quote} they drive me nuts too - just look forward to tomorrow.....
Thanks, yes its been a write off today.

But its good to see that you have progressed well with your experimenting
  • #4,433
  • Jan 13, 2014 2:05pm Jan 13, 2014 2:05pm
Anyone can explain this loss.
G matrix is good. All stochs look good (only 5M stoch is in OB zone or this is big mistake)
Regards
dan40
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  • #4,434
  • Jan 13, 2014 3:29pm Jan 13, 2014 3:29pm
Quoting dan4o
Anyone can explain this loss. G matrix is good. All stochs look good (only 5M stoch is in OB zone or this is big mistake) Regards dan40 {image}
Hmm, looks like its been trending down nicely but hit a little SR around the whole number. Cloud analysis indicates range trading possibly. But I would half expect a sudden pull back up.
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  • #4,435
  • Jan 13, 2014 4:00pm Jan 13, 2014 4:00pm
Quoting dan4o
Anyone can explain this loss. G matrix is good. All stochs look good (only 5M stoch is in OB zone or this is big mistake) Regards dan40 {image}
The 15m and higher were in a downtrend, so this was a retracement trade and the entry should have been about an hour earlier for +15 or so.....I enter this type of trade as soon as the stochs allow, so 14:25 or 14:35.....by the time you entered, most of the retracement was over.....
Trading Levels with WRBs
  • #4,436
  • Edited 6:50am Jan 14, 2014 2:46am | Edited 6:50am
Missed both shorting opportunities on EU & GU at around 7 - 7:05 GMT purely through procrastination. Read the signal just didn't pull the trigger as I was thinking that it was maybe too early to trade. Very frustrating as they both turned out to be 10p+ trades. Anyway, caught the turn on GU as UJ looked like it was due a break so went long at 7:48 & banked 12p at 8:10 at the **00 line when the m1 Adv ADX turned & there was what looked like divergence on the volume indicator I'm using. Jumped back in at 8:24 (though if I had been paying attention there was an EU entry at 8:10 that would have yielded c 30p) & exited at 8:32 after very high vol & WRBs past DPV for 11p.

I think watching UJ for deciding entries is a great pointer &, as you said Islander, for keeping you out of trades. I have the m30, m15, m5 stochs setup there so as to give heads up as to what's happening & what may be to come (see below). I'm still not so sure about my exits; currently studying ADX, adv ADX, volume divergence to see which works out best on the whole though SnR/ major lines are still key as there is generally a reaction around these points.

Edit: Ideas from anyone on any of the above are most welcome. Cheers.
Attached Image
  • #4,437
  • Jan 14, 2014 3:06am Jan 14, 2014 3:06am
Quoting Sober_Colm
Missed both shorting opportunities on EU & GU at around 7 - 7:05 GMT purely through procrastination. Read the signal just didn't pull the trigger as I was thinking that it was maybe too early to trade. Very frustrating as they both turned out to be 10p+ trades. Anyway, caught the turn on GU as UJ looked like it was due a break so went long at 7:48 & banked 12p at 8:10 at the **00 line when the m1 Adv ADX turned & there was what looked like triple divergence on the volume indicator I'm using. Jumped back in at 8:24 (though if I had been paying attention...

I prefer to only trade early - around FO - if there is some trend aready in place. If the market is flat IMO its best to wait until at least mid FH - this morning again proved this.....

If your trading time is limited, IMO banking around "levels" in high volume WRBs is the way to go.......if you have more time, then waiting for some divergence via either the fast ADX / Advanced ADX or the TVI

At present I'm long GJ.....chart later.....
Trading Levels with WRBs
  • #4,438
  • Jan 14, 2014 3:51am Jan 14, 2014 3:51am
In FH cable did a fakeout and both GJ and UJ were in a 5m BB squeeze......I was late in, but the first signal was 7:37 with the 5m / 15m RSIOMAs above their 50 levels and the 1m cross of RSIOMA & the Green stoch with price at the EMAs....the second opportunity was ~8:25 as the 1m Delayed Stoch and Green stock cycled back up with RSIOMA and the slow stoch remaining in their buy zones.

TVI Divergence warned of a loss of momentum as price spiked up to the **50 level - cable was then at its 61% retrace, so best to bank some there and tighten a stop before the UK CPI data.....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #4,439
  • Jan 14, 2014 4:17am Jan 14, 2014 4:17am
Quoting Islander
{quote} The 15m and higher were in a downtrend, so this was a retracement trade and the entry should have been about an hour earlier for +15 or so.....I enter this type of trade as soon as the stochs allow, so 14:25 or 14:35.....by the time you entered, most of the retracement was over.....

Thanks for help.
Regard
dan40
  • #4,440
  • Jan 14, 2014 5:03am Jan 14, 2014 5:03am
Quoting Islander
I prefer to only trade early - around FO - if there is some trend already in place. If the market is flat IMO its best to wait until at least mid FH - this morning again proved this.....

If your trading time is limited, IMO banking around "levels" in high volume WRBs is the way to go.......if you have more time, then waiting for some divergence via either the fast ADX / Advanced ADX or the TVI
Thanks for this, much appreciated. I definitely prefer the idea of waiting till mid FH to see what's going on.
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