Islander and Medici trade the European open | Page 239 | Forex Factory

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Islander and Medici trade the European open

  • #4,761
  • Mar 20, 2014 2:17am Mar 20, 2014 2:17am
GM - sold EJ in 6:44 bar and closed for a wash as UJ spiked up.

Sold GU in 6:55 bar and closed as it stalled just below the close / open level of 6529
Attached Image (click to enlarge)
Click to Enlarge Name: mar20 gu 1m 0716.png Size: 37 KB
Trading Levels with WRBs
  • #4,762
  • Mar 21, 2014 2:32am Mar 21, 2014 2:32am
Good morning, apologies for the lack of charts of recent, have been busy in work &, at present, that pays the bills. Have been concentrating on shorter term scalps as a result of my time constraints. Will try post a few charts this weekend. Best of luck all.
  • #4,763
  • Mar 21, 2014 4:09am Mar 21, 2014 4:09am
Quoting Sober_Colm
Good morning, apologies for the lack of charts of recent, have been busy in work &, at present, that pays the bills. Have been concentrating on shorter term scalps as a result of my time constraints. Will try post a few charts this weekend. Best of luck all.
Likewise, best wishes to all.
  • #4,764
  • Mar 24, 2014 2:39am Mar 24, 2014 2:39am
GM - Indicator as requested....insert as follows. File> Open Data Folder > MQL4 > Indicators. Restart MT4 and IF it will not attach, open it in Navigator, click on the blue Modify button to open the Editor and then click on the Compile Icon on the top tool bar.....as long as there are (0) errors it should now work.....
Attached File(s)
File Type: ex4 SS_SupportResistance_v04c.ex4   17 KB | 270 downloads
Trading Levels with WRBs
  • #4,765
  • Mar 24, 2014 2:59am Mar 24, 2014 2:59am
Quoting Islander
GM - Indicator as requested....insert as follows. File> Open Data Folder > MQL4 > Indicators. Restart MT4 and IF it will not attach, open it in Navigator, click on the blue Modify button to open the Editor and then click on the Compile Icon on the top tool bar.....as long as there are (0) errors it should now work..... {file}
thank you work
  • #4,766
  • Mar 24, 2014 3:25am Mar 24, 2014 3:25am
Quoting tomyy13
{quote} thank you work


5m UJ was up since before FO, then GU turned in mid FH, so I was looking to buy GJ which I did in the pinch before LO. The good Fench data spiked EU up and took GU with it and thus GJ for 20+ pips
Attached Image (click to enlarge)
Click to Enlarge Name: mar24 gj 1m 0814.png Size: 35 KB
Trading Levels with WRBs
  • #4,767
  • Mar 24, 2014 8:18am Mar 24, 2014 8:18am
Quoting Islander
{quote} 5m UJ was up since before FO, then GU turned in mid FH, so I was looking to buy GJ which I did in the pinch before LO. The good Fench data spiked EU up and took GU with it and thus GJ for 20+ pips {image}
I have had no network connection today. Pants

But you as ever has helped me to chill
  • #4,768
  • Mar 25, 2014 3:22am Mar 25, 2014 3:22am
Quoting figgsey
{quote} I have had no network connection today. Pants But you as ever has helped me to chill


A tight morning so far.....stayed away from the crosses as UJ was flat.....now waiting for German and then UK news....
Attached Image (click to enlarge)
Click to Enlarge Name: mar25 gu 1m 0812.png Size: 39 KB
Trading Levels with WRBs
  • #4,769
  • Mar 25, 2014 6:31am Mar 25, 2014 6:31am
Quoting Islander
{quote} A tight morning so far.....stayed away from the crosses as UJ was flat.....now waiting for German and then UK news.... {image}
Yes, its been a quite day so far.

What did you make of the impact of Low Inflation on GBP?
  • #4,770
  • Mar 25, 2014 10:58am Mar 25, 2014 10:58am
Quoting figgsey
{quote} Yes, its been a quite day so far. What did you make of the impact of Low Inflation on GBP?
what impact....
Trading Levels with WRBs
  • #4,771
  • Mar 26, 2014 5:19am Mar 26, 2014 5:19am
GM - whilst waiting for my sell from 8:38 to either be confirmed by a drop to test today's DP or closed for +1, I updated my 4 hr chart......interesting to see that todays high so far is not only in the supply area ~1.6566, but also at the VWAP level.....
Attached Image (click to enlarge)
Click to Enlarge Name: mar26 gu 4hr.png Size: 63 KB
Trading Levels with WRBs
  • #4,772
  • Edited 5:58am Mar 26, 2014 5:42am | Edited 5:58am
Yesterday I posted this Trade Sheet in Rooi's thread and its already been downloaded 62 times. Now I am going to use this thread to show some of the specifics that I use to make up the eight items that are mentioned and that make up my trading rules. This is for information only, it is up to each individual trader to research and make up his / her own set of Trading Rules that best suite their own requirements.
Attached File(s)
File Type: doc Trade Sheet March 2014.doc   20 KB | 421 downloads
Trading Levels with WRBs
  • #4,773
  • Edited 8:31am Mar 26, 2014 6:54am | Edited 8:31am
OK - so first our own research will have shown us which contract we wish to trade and the best times of the day to look for tradeable moves in that contract.

Now looking just at the upper price window with standard candlesticks - some may prefer the smoothing effect of Heinken Ashi candles, personal choice - I use the AllAverages coloured 25 EMA and also the 5m 25 EMA = 125 EMA.....followers of my Three Dragons method may also add say a 375 EMA . Around the 25 EMA I add + / - 3 pip (say) bands shown in dashed grey.

Then I have a 25 period Bollinger Band with 2 SD in blue - I set the colour of the centre line to "none".

Levels are from the SDX-TzPivots and SDX-SweetSpots and I may also import a S&R zone from a higher TF chart....and the Signal Arrows are from the ASCTrend indicator - research the setting that is best for you.

So at #1 the signal arrow prints and the 25 EMA turns Blue with the 125 EMA still orange, but almost flat and there is a good BB pinch.

At #2 the 125EMA is now green and price breaks above the high of the candle when the 125 EMA turned green, whilst still close to the 25 EMA......so ASSUMING that our other indicators agree, take a buy.

Similar inputs can be used at #3 and #4 for a sell, whilst noting that the 125 EMA is still green.....

Thus there are at least four inputs that can be taken from this window and put into a set of Trading Rules.....

Please note that I have already posted ALL of these indicators or they are are basic in MT4......



.
Attached Image (click to enlarge)
Click to Enlarge Name: mar26 gu 1m lo.png Size: 41 KB
Trading Levels with WRBs
  • #4,774
  • Mar 26, 2014 8:29am Mar 26, 2014 8:29am
To continue with the lower indicator windows.....the upper of which has M15 and M5 Stoch-MTF indicators, both with OB / OS zones and the 50 level shown.
The M15 stoch (1) is the more important. On this chart it remained in the OB (Buy Zone) until 12:30 when it turned down, exiting the Buy Zone six bars later when the M5 stoch (2) also started to cycle back down. Thus these two indicators can be used via their slopes, turns and levels to provide two or more inputs for our Trading Rules.

The bottom window has William Blau's excellent Tick (Trade) Volume Index (3) which gives three separate signals. The fastest is via its change of colour, slower is via its crossing of the Zero Line and last is via Lower Highs / Higher Lows it shows as it diverges from price, so three more potential inputs for our Rules.

Last I also monitor volume (4) - or more correctly in forex - tick volume / activity. In this context, I use this as an alert when considering exiting a trade.....when a coloured line appears, look at the PA. Off subject, but the high on this chart was in a red spinning top with a small body and high volume....a clear VSA type signal to exit any longs and reverse.....

So these two posts make suggestions as to how the information off my charts can be made into your own set of Trading Rules - or filters - to provide a subjective rule based format with which to trade this volatile time frame. I hope these help.

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: mar26 gu 1m 1258.png Size: 36 KB
Trading Levels with WRBs
  • #4,775
  • Mar 26, 2014 9:54am Mar 26, 2014 9:54am
Quoting Islander
To continue with the lower indicator windows.....the upper of which has M15 and M5 Stoch-MTF indicators, both with OB / OS zones and the 50 level shown. The M15 stoch (1) is the more important. On this chart it remained in the OB (Buy Zone) until 12:30 when it turned down, exiting the Buy Zone six bars later when the M5 stoch (2) also started to cycle back down. Thus these two indicators can be used via their slopes, turns and levels to provide two or more inputs for our Trading Rules. The bottom window has William Blau's excellent Tick (Trade)...
Good to see that the research is going well.

Its never ending...

I am currently looking at the higher TFs on big news days and toying with disconnection from Alien mothership.

Do you still use (any) of his indicators?
  • #4,776
  • Mar 26, 2014 10:09am Mar 26, 2014 10:09am
Quoting figgsey
{quote} Good to see that the research is going well. Its never ending... I am currently looking at the higher TFs on big news days and toying with disconnection from Alien mothership. Do you still use (any) of his indicators?
LOL - now only the BBs for squeeze.....stochs + TVI are IMO sufficient - less clutter makes the charts much clearer....
Trading Levels with WRBs
  • #4,777
  • Mar 26, 2014 10:10am Mar 26, 2014 10:10am
Quoting Islander
To continue with the lower indicator windows.....the upper of which has M15 and M5 Stoch-MTF indicators, both with OB / OS zones and the 50 level shown. The M15 stoch (1) is the more important. On this chart it remained in the OB (Buy Zone) until 12:30 when it turned down, exiting the Buy Zone six bars later when the M5 stoch (2) also started to cycle back down. Thus these two indicators can be used via their slopes, turns and levels to provide two or more inputs for our Trading Rules. The bottom window has William Blau's excellent Tick (Trade)...
Excellent posts. I loved your picture of your office I saw posted somewhere. Great use of bricks. I have a similar bunch of mismatched screens, most of which have seen better days but they work.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #4,778
  • Mar 26, 2014 10:18am Mar 26, 2014 10:18am
Quoting revoli
{quote} Excellent posts. I loved your picture of your office I saw posted somewhere. Great use of bricks. I have a similar bunch of mismatched screens, most of which have seen better days but they work.

LOL - the square screen on the left is great for stacking charts and the middle one for my way of viewing EJ or GJ.

BTW, that left screen is resting on Murphy's The Technical Analysis of the Futures Markets and Goslin's Trading Day by Day .....at more that $100 each, expensive monitor supports!
Trading Levels with WRBs
  • #4,779
  • Mar 26, 2014 3:35pm Mar 26, 2014 3:35pm
Quoting Islander
OK - so first our own research will have shown us which contract we wish to trade and the best times of the day to look for tradeable moves in that contract. Now looking just at the upper price window with standard candlesticks - some may prefer the smoothing effect of Heinken Ashi candles, personal choice - I use the AllAverages coloured 25 EMA and also the 5m 25 EMA = 125 EMA.....followers of my Three Dragons method may also add say a 375 EMA . Around the 25 EMA I add + / - 3 pip (say) bands shown in dashed grey. Then I have a 25 period...

Thanks but how do you add that 3 pip band ? and how do you set the centre line to none. In general i have also problems to upload new indicators in that 600 build platform but thats a problem i have to resolve by myself.

Never realised that you paid so much attention to those ema's. Thought the stochs were more inportant for you.
  • #4,780
  • Mar 27, 2014 2:29am Mar 27, 2014 2:29am
Thank you very much Islander for your explanations.
Your daily posts are very appreciated, as always. I hope some day I will be profitable and will contribute in this thread.
Good trip captain!
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