The Club!

GA closed +110 pips (entry analysis on previous page).

I opened a new account for scalping ...I do not want to mix the accounts and results in 2014...

Hi Yaphets,

sorry for answering late :-(

Hmmm, what is Magix template? Which indicator?

Ha, found the posting from Magix.


This kind of indicators are called Market profile.

Personally I do not use MT4 Market profile indicators. I use Excel for that.


One of the better Market Profile (MP) indicators is the following:



If new to Market Profile, read this first before asking questions :-)

http://www.cmegroup.com/education/in...e/handbook.pdf


If you read somewhere in FF, that you can not apply Market Profile to Forex markets, even when the person sounds brilliant, be advised that it works well and the mentioned person only wants to sell Auction market theory (ATM). Well, not that I am misunderstood: ATM is not bad at all - but MP works in Forex markets, too.


Regardless what you take: ATM or MP (TPO or VPO) - read about it and simply take from it what you need to be successful.


Tell Magix I love him, too

I think now we can go up. What do you think guys?

Looking at volume profiles, price has now room to reach the 3695 to 3720 "no business" area. Here I suspect at least the rejection of the recent upmove.

From an Elliott Wave point of view I have argued for days, if the majority of EW-analysts may be wrong suspecting a 1-2, 1-2 move (down) from the top at 389x.

I thought from the beginning, that we would have a nice chance, that the recent low of 3507 was the end of the first wave 1 down, and that the subwave 4 of this impulse down was an ABC-flat (where many pundits thought, that the B-wave down of the flat was the subwave 5 of the first impulse down.


Sorry, am on mobile right now, so no chart.


If I am right, we are now in a wave 2 up.

This wave 2 up may evolve as an ABC zigzag or flat.

If flat, we are now in C-wave impulse up.

If zigzag, then we have seen a leading diagonal 1, now in wave 3 up of the A-wave impulse.


Since leading diagonals are rare, chances are, that we are in an ABC-flat. The c-wave impulse should be finnished soon.

Question then is: is the wave 2 done after that, or do we have to expect more?

I would like to see more of this wave two, because time-wise it is a bit short.

Maybe the recent whole move up is only wave A of 2.

Ideal targets for a wave 2 up are:

3700 (50% retracement)
3744 (62% retracement)

3790-3810 resistance shelf (around 76% retracement)


From volume perspective, 3756 is high volume area, whereas low volume (no-business-area) starts then around 3800

Im waiting for 1,3525 for weeks, I guess some huge stops there. Downtrend might continue there. Otherwise if 1,3540 holds as support I might liquidate or even get long. Time will tell.
(Reference Post January 9th: http://www.forexfactory.com/showthre...61#post7201161)

Long @ 1,3525

EW on UC

4h TF

Hi my friend,

well done.

My initial plan was to load heavy long around 3480-3450 area, but in one of my prior postings I warned, that the 3520 support shelf might be too strong for now.

I only loaded a bit long, when we broke the 3550 (again) and 3565 8subsequently) Murrey Math level

Have already unload in the 3610, 3640 and 3656 area.

Am waiting for a little push higher towards 3687 to 370 area. Will short there

Bin zwar auch short

perfekt wäre die 1.12029 zu shorten

Some of my open position. I have posted on EURUSD thread to sell jpy, aud and buy eur and gbp. I am strongly bullish on EU for now. Will add strong longs wherever possible, target 1.40
http://prntscr.com/2luklr
http://prntscr.com/2lukqf
http://prntscr.com/2lukv6

EW on EU

4h TF

volume profiles

Three amigos in setup, watching for clues on entries on either of them and look for possible bounces on all. If EUR strenghts and AUD weakens further we are seeing 300 pips here merged.


http://prntscr.com/2lupfb
http://prntscr.com/2luplv
http://prntscr.com/2lupv3

http://www.zerohedge.com/sites/defau.../picture-5.jpg
This Is What A Central Bank Losing Control Looks Like

good reading


http://www.zerohedge.com/sites/defau.../picture-5.jpg
Bob Janjuah: "Tick Tock, Not Yet Bear O’Clock"

Yep, just copy pasted it here.

7 – Without turning this into a year ahead-type note, I wanted to highlight what I think could be three big surprises for the year over and above (but of course linked) to my views above: Currency Wars – the big one, China! At what point does China and the RMB say "No Mas?"; Japan – what if the squeeze on real incomes and the squeeze on the SMEs is so strong that the BOJ does NOT deliver more new easing beyond March year-end? The JPY has been a one-way trade and is now the major funding currency of the global carry trade – any sign that the BOJ and Prime Minister Abe are blinking would be very difficult for the broader global markets; and lastly, the Fed – to taper or not to taper – what if the data become even more volatile and mixed? Does the Fed reverse taper? What about credibility? And what if the PCE reading drops below 1%? Going from over 2% to 1.1% is disinflation and "good" for all assets in a QE world, but a sustained move below 1% is not good for risk assets and growth expectations and would surely prove, once and for all, that QE is little more than money illusion. The new Chair of the Fed may end up with a major credibility gap, having been so wedded to this policy. And what would it mean for Abenomics (albeit in Japan there is at least an attempt to force some real economy reform).

Friends,

time for me to go into my vacation soon


will be in the mountains for some weeks - ice-climbing, skiing, hunting ski-bunnies


Do not know yet, if I have access to the internet all the time, but hope so.

Will be here every here and then, but most likely not so frequently.

BTW:

the book linked in my posting above shows one of many ways to "profile" the market.

Let it be MP (TPO), MP derived by using VPO, ATM or whatever you find useful: you can take the rules and guidelines written down in those books or what CISCO has written down, but you can also use your very own system to come to a conclusion. You can take common sense, or highly sophisticated mathematics (statistics) to come to a trading solution.

Nowhere in trading there is a need to follow some gurus or books or whatsoever. Simply said: they all found a system, that eventually worked (for them).

It is foremost YOU (you and your money management) that makes a system work.

If you are in doubt, if a Forex tick-Volume profile can be traded, you may ask Fx-Ray, or eventually Attila, too.


When still in doubt: funny thing is, that VPO and TPO almost every time produce very very similar profiles (and especially funny, since one person here in FF does not even recognise that)

The main difference between TPO and VPO is, that by looking at TPO you can see by the letters, when the TPO was build.

By looking at VPO, you need the chart to see, when the VPO was build


But when it comes to accuracy, VPO clearly beats TPO, since TPO uses rough 30min time troughs for price, whereas VPO is so to say real-time (or not filtered)

problem with only using the table is, that you do not know, how long price went through the octave without meaningful retracement.

For me a meaningful retracement is 3 octave lines wide.


Using Murrey Math, you look at two factors:

a) how many lines has price crossed without meaningful retracement?

b) at which line is price?