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Magnetic Line Trading with KiwiOz

  • #101
  • Apr 27, 2014 6:30pm Apr 27, 2014 6:30pm
Quoting KiwiOz
{quote} Cheers Tony......Your' already in the money..... How about joining in on the Bitcoin thread too.
Yes it looks like it might be ok...

About the bitcoin thread I dont know im just testing the BitCoin.Meate I have to go and have some sleep , I have to get up at 6:00AM and its already 4:25AM.

Have a great day Mate Cheer's
Too Much Is Never Enough
  • #102
  • Apr 27, 2014 6:35pm Apr 27, 2014 6:35pm
Quoting Nagy Attila
{quote} Yes it looks like it might be ok... About the bitcoin thread I dont know im just testing the BitCoin.Meate I have to go and have some sleep , I have to get up at 6:00AM and its already 4:25AM. Have a great day Mate Cheer's
geez..You will end up with square eyes......
Money Makes Money
  • #103
  • Apr 27, 2014 6:41pm Apr 27, 2014 6:41pm
The purple line with dots is to STOP Gold from going up any further.....

Should turn back to the Daily pivot now.
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Click to Enlarge Name: xauusdh4.png Size: 43 KB
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  • #104
  • Apr 27, 2014 6:52pm Apr 27, 2014 6:52pm
Ltc/Usd
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  • #105
  • Apr 27, 2014 7:26pm Apr 27, 2014 7:26pm
Quoting KiwiOz
The purple line with dots is to STOP Gold from going up any further..... Should turn back to the Daily pivot now. {image}
i think gold will rise a little bit for 1.311. then may have good point to sell
  • #106
  • Apr 27, 2014 9:37pm Apr 27, 2014 9:37pm
Quoting criztaliz
{quote} i think gold will rise a little bit for 1.311. then may have good point to sell
Yes it is possible, but how did you find that target.
I have drawn a possible target at 1310 but I would like to see yours first.
For the sake of this thread discussion, can you post a chart showing how you got the target.
Show me yours & I will show you mine..
Cheers
Money Makes Money
  • #107
  • Apr 27, 2014 9:43pm Apr 27, 2014 9:43pm
Quoting KiwiOz
{quote} Yes it is possible, but how did you find that target. I have drawn a possible target at 1310 but I would like to see yours first. For the sake of this thread discussion, can you post a chart showing how you got the target. Show me yours & I will show you mine.. Cheers
FF journal: Peaks and Troffs
  • #108
  • Apr 27, 2014 9:47pm Apr 27, 2014 9:47pm
Quoting bogus
{quote}
Hi Bogus. What are you trading now. About time we saw you on the Bitcoin thread...
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  • #109
  • Apr 27, 2014 10:21pm Apr 27, 2014 10:21pm
Quoting KiwiOz
{quote} The magnetic lines are drawn by hand. You just gotta figure out where to place them.
Yes I understand that. But which indicator is used for drawing the lines? There seems to be just one trend line one, one cci and one daily pivot only
A 1 pip gain is better than a 1 pip loss.
  • #110
  • Apr 27, 2014 10:44pm Apr 27, 2014 10:44pm
Quoting KiwiOz
{quote} Yes it is possible, but how did you find that target. I have drawn a possible target at 1310 but I would like to see yours first. For the sake of this thread discussion, can you post a chart showing how you got the target. Show me yours & I will show you mine.. Cheers
simply, fibonacci on daily TF. sorry i hate to discuss when too many view than talking. they maybe use that to get some penny,
no matter im wrong or right in predict. LOL. you see im discussing to you by texting message.
  • #111
  • Apr 27, 2014 10:47pm Apr 27, 2014 10:47pm
Quoting criztaliz
{quote} simply, fibonacci on daily TF. sorry i hate to discuss when too many view than talking. they maybe use that to get some penny, no matter im wrong or right in predict. LOL. you see im discussing to you by texting message.
or maybe im one of that things, LOL.
btw your lines in golds show some resistance, congrats.
  • #112
  • Apr 27, 2014 10:49pm Apr 27, 2014 10:49pm
Quoting KiwiOz
{quote} Hi Bogus. What are you trading now. About time we saw you on the Bitcoin thread...
I prefer something with more of a track record. Something like Old dogs and new tricks.
FF journal: Peaks and Troffs
  • #113
  • Apr 27, 2014 10:54pm Apr 27, 2014 10:54pm
Quoting KiwiOz
I have added my indicators to the 1st Post.
Thanks, also for help with the chart.
Good Trading
  • #114
  • Apr 28, 2014 12:13am Apr 28, 2014 12:13am
Quoting aeternum
{quote} Yes I understand that. But which indicator is used for drawing the lines? There seems to be just one trend line one, one cci and one daily pivot only
Ahh. you've missed the point of the whole system, The indicators are only "Assistants" in determining overall directions.
The target lines are drawn manually from observing "Price action, & support & resistance points"
It is a method of trading I find profitable. It is not the holy grail. There is no such thing.
The target lines help to show the the next support or resistance. It is up to the individual as to whether they take profit at each target on the smaller time frames or ride the waves to the larger time frame targets.
As with any method, TIMING is the hardest part. It is so easy to get sucked into a trade only to find your timing is out & price retraces scaring the crap out of you before turning & heading in the direction you chose.
Money Makes Money
  • #115
  • Apr 28, 2014 12:19am Apr 28, 2014 12:19am
Quoting criztaliz
{quote} simply, fibonacci on daily TF. sorry i hate to discuss when too many view than talking. they maybe use that to get some penny, no matter im wrong or right in predict. LOL. you see im discussing to you by texting message.
yeah OK fair enough. Your target is still possible however I don't like it's chances. The 61.8 Fib' was hit at the 1306. The set-up does not look right for me.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 48 KB
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  • #116
  • Apr 28, 2014 1:44am Apr 28, 2014 1:44am
Quoting KiwiOz
{quote} Ahh. you've missed the point of the whole system, The indicators are only "Assistants" in determining overall directions. The target lines are drawn manually from observing "Price action, & support & resistance points" It is a method of trading I find profitable. It is not the holy grail. There is no such thing. The target lines help to show the the next support or resistance. It is up to the individual as to whether they take profit at each target on the smaller time frames or ride the waves to the larger time frame targets. As with any...
Yes I know the lines are drawn manually. But how do you determine where your next support and profit line is at? Do you just simply draw a non-ray trend line and then connect it up on your own? There has to be something that will make your line what it is right? Hope you understand what I mean
A 1 pip gain is better than a 1 pip loss.
  • #117
  • Apr 28, 2014 2:33am Apr 28, 2014 2:33am
Quoting aeternum
{quote} Yes I know the lines are drawn manually. But how do you determine where your next support and profit line is at? Do you just simply draw a non-ray trend line and then connect it up on your own? There has to be something that will make your line what it is right? Hope you understand what I mean
OK take this chart for example. Ozie 4H. price was going up contained in a channel. Price broke the channel trend line so it was time to look for a target to the downside.
I drew a line from the two support candles in the black boxes to find the target, waited until the retrace was over then entered the trade. You will note the CCI agreed with the decision. took profit at 0.9260. Now waiting for the retrace to complete.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 42 KB
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  • #118
  • Edited 3:15am Apr 28, 2014 2:46am | Edited 3:15am
Now we go to the Daily chart. As with the 4H chart, price has broken to the downside & at present we have a retracement.
We are waiting to enter for wave 3.
The automatic support indicator has found the supports for me. So if we use our brains, we wait for the line to be broken & enter at 0.9240. 1st target should be around 0.9080. Smack on the 61.8% Fib' retrace.
The CCI is telling us to hold short if already in the trade or go short when the above conditions are met.
Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily.png Size: 44 KB
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  • #119
  • Apr 28, 2014 3:23am Apr 28, 2014 3:23am
Sorry mate I just edited my post. I meant not to enter trade until price gets below support at 0.9240 Not 0.9340. fat fingers..
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  • #120
  • Apr 28, 2014 3:27am Apr 28, 2014 3:27am
Quoting KiwiOz
{quote} OK take this chart for example. Ozie 4H. price was going up contained in a channel. Price broke the channel trend line so it was time to look for a target to the downside. I drew a line from the two support candles in the black boxes to find the target, waited until the retrace was over then entered the trade. You will note the CCI agreed with the decision. took profit at 0.9260. Now waiting for the retrace to complete. {image}
So you drew that horizontal line on your own too?
A 1 pip gain is better than a 1 pip loss.
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