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Daytrading/scalping with high leverage - my proven strategy

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  • #7,181
  • May 22, 2014 5:02am May 22, 2014 5:02am
What do you see on this chart??

I see a potential short trade setting up:

 

  1. MA Ribbon determines my trend
  2. PA determines my entry when it recycles into the Ribbon
  3. We have what looks like a bullish H4 engulfing but it is a dummy being sold to retail traders
  4. M30 & H1 Stox seem to suggest this is a pullback as PA dances into the DPV and retest the DOL

I will be waiting for break of 3669 (2nd Asian H4 candle before the head fake engulfing) and if I have HTF Stox support, I will be short this pair.


Please do your own personal research and analysis

Shalom

Attached Image (click to enlarge)
Click to Enlarge Name: EU Trade Setup - 5222014.gif Size: 60 KB
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  • #7,182
  • May 22, 2014 5:16am May 22, 2014 5:16am
Quoting 919gilead
What do you see on this chart?? }
almost same chart for EA, I would rather watch EA, cause it makes much longer runs

You don't consider GBP after news? For example GJ... Whats that on GJ now, trend chages direction or just pullback? Nice stochs btw...
  • #7,183
  • May 22, 2014 5:26am May 22, 2014 5:26am
Quoting icerock
{quote} almost same chart for EA, I would rather watch EA, cause it makes much longer runs You don't consider GBP after news? For example GJ... Whats that on GJ now, trend chages direction or just pullback? Nice stochs btw...
I agree with you and will be looking at both of them in addition to others I am watching. I have another platform/screen that shows 12 pairs I am watching but without the Stox. GJ is still a pullback for me as I will not take the 1st break but will wait for retest during which the Ribbon may fully turn bearish and then we can start talking.

This system teaches patience and discipline. I don't chase the market, but rather wait for the market to come to me.
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  • #7,184
  • May 22, 2014 5:35am May 22, 2014 5:35am
Silver finally broke the HOD but it is no longer a HPT for me with H1 Stox reluctant to support the trade; R2 waiting for price and M5 Stox @ extreme OB. Will like a good retracement before entry.
Attached Image (click to enlarge)
Click to Enlarge Name: Silver Trade Setup - 5222014.gif Size: 57 KB
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  • #7,185
  • May 22, 2014 6:25am May 22, 2014 6:25am
Quoting 919gilead
Silver finally broke the HOD but it is no longer a HPT for me with H1 Stox reluctant to support the trade; R2 waiting for price and M5 Stox @ extreme OB. Will like a good retracement before entry. {image}
in case, when one of the stochs (m30 or H1) is in oversold/overbought, do you normally consider its signals, if there's some space between its lines?
  • #7,186
  • Edited 6:49am May 22, 2014 6:36am | Edited 6:49am
Quoting icerock
{quote} in case, when one of the stochs (m30 or H1) is in oversold/overbought, do you normally consider its signals, if there's some space between its lines?
Yes I do and it does not matter whether there is space between the lines or not but ..... if the H1 is OS/OB and no space between the lines, I look @ M30 for clarity - a pullback and resumption in the direction of that H1. It is a sign of strong momentum for me. If both are without space, then I look @ the LTFs for clarity. And something unique you will notice is a slingshot from the M5 when it pulls back and then recycles or resume its run in the direction of the HTF.

See some of the charts I posted here.
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  • #7,187
  • May 22, 2014 6:38am May 22, 2014 6:38am
Hey....I am a newbie to this thread....

What about Engulfing Candles....???

will they work in currency majors...???

trend reversal matters...
  • #7,188
  • May 22, 2014 7:11am May 22, 2014 7:11am
Quoting 919gilead
What do you see on this chart?? I see a potential short trade setting up: MA Ribbon determines my trend PA determines my entry when it recycles into the Ribbon We have what looks like a bullish H4 engulfing but it is a dummy being sold to retail traders M30 & H1 Stox seem to suggest this is a pullback as PA dances into the DPV and retest the DOL I will be waiting for break of 3669 (2nd Asian H4 candle before the head fake engulfing) and if I have HTF Stox support, I will be short this pair. Please do your own personal research and analysis Shalom...

Update to the EU short setup - a lesson in patience and discipline

  1. Price did pierce my 3669 level
  2. HTF Stox supported a short trade
  3. But M5 Stox was @ extreme OS and
  4. No new candle opened below the candle that pierced my entry/interest point

This is why it is important that traders do not allow the market to decide where the fight takes place - you decide and will have less stress. Don't chase price but let it come to you.


Shalom

Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU Trade Setup - 5222014.gif Size: 60 KB
Click to Enlarge Name: EU Trade Setup2 - 5222014.gif Size: 64 KB
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  • #7,189
  • May 22, 2014 7:30am May 22, 2014 7:30am
Quoting 919gilead
{quote} Update to the EU short setup - a lesson in patience and discipline Price did pierce my 3669 level HTF Stox supported a short trade But M5 Stox was @ extreme OS and No new candle opened below the candle that pierced my entry/interest point This is why it is important that traders do not allow the market to decide where the fight takes place - you decide and will have less stress. Don't chase price but let it come to you. Shalom {image} {image}
yap, no break of previous H4 candle on EU.

Hope something will be on UJ/EJ, but they have to break the resistance near H4 candle line...
  • #7,190
  • May 22, 2014 8:08am May 22, 2014 8:08am
Quoting icerock
{quote} yap, no break of previous H4 candle on EU. Hope something will be on UJ/EJ, but they have to break the resistance near H4 candle line...
I am now short EU with SL @ 3674. I have a trailing stop too with my PT @ 3600. I am going for a snooze
Attached Image (click to enlarge)
Click to Enlarge Name: EU Trade1 - 5222014.gif Size: 66 KB
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  • #7,191
  • May 22, 2014 9:37am May 22, 2014 9:37am
Quoting 919gilead
{quote} I am now short EU with SL @ 3674. I have a trailing stop too with my PT @ 3600. I am going for a snooze {image}
Let me know if I'm wrong. Does this pattern (on the last screen) you posted is when you "complete" a move needed to create a double/triple top/bottom ? And this way you're gaining these few missing pips that are needed to make double/triple patterns ?

Regards, Pretorian1
Aggressive, High Risk, High Gain, High Accuracy
  • #7,192
  • May 22, 2014 11:09am May 22, 2014 11:09am
Quoting condor666
I use the genesis the be sure that's the right moment to enter in trade and the aimsbox helps me to identify breakouts Here are them : {file} {file} {file} {file} {file} {file}
Hello, MR.condor
Firstly, thank you for your effort... indeed appreciate it.
I downloaded indicators and tpl and then installed it on my MT4. - http://www.forexfactory.com/showthre...14566&page=352
But the "genesis" indicator does NOT work properly, I think...
Take a look at a picture below, please.
Actually, I tried to reload the tpl again and again...
Is it working properly on your MT4?
PS - Is there any update since you uploaded?
Attached Image (click to enlarge)
Click to Enlarge Name: picture.png Size: 240 KB
Attached File(s)
File Type: mq4 GenesisMatrix 2.22.mq4   18 KB | 330 downloads
  • #7,193
  • May 22, 2014 12:13pm May 22, 2014 12:13pm
Quoting davidoh
{quote} Hello, MR.condor Firstly, thank you for your effort... indeed appreciate it. I downloaded indicators and tpl and then installed it on my MT4. - http://www.forexfactory.com/showthre...14566&page=352 But the "genesis" indicator does NOT work properly, I think... Take a look at a picture below, please. Actually, I tried to reload the tpl again and again... Is it working properly on your MT4? PS - Is there any update since you uploaded? {image} {file}
Strange, it's like the red color is missing in the last line.
For the moment i use still everything like the template you have.
I took it from the genesis thread, maybe someone here knows what's wrong...
My name is Martin... Martin Gale
  • #7,194
  • May 22, 2014 12:47pm May 22, 2014 12:47pm
Quoting condor666
{quote} Strange, it's like the red color is missing in the last line. For the moment i use still everything like the template you have. I took it from the genesis thread, maybe someone here knows what's wrong...
Thanks for your rapid answer.
I still don't know why...
If you get answer, inform me that anytime without hesitating, please.
sincerely,
david
  • #7,195
  • May 22, 2014 1:35pm May 22, 2014 1:35pm
Quoting pretorian1
{quote} Let me know if I'm wrong. Does this pattern (on the last screen) you posted is when you "complete" a move needed to create a double/triple top/bottom ? And this way you're gaining these few missing pips that are needed to make double/triple patterns ? Regards, Pretorian1
Hi Pretorian,

I'm not smart enough to answer your question but let me attempt and the senior members can please correct me ... I don't see a double top/bottom pattern here. Double top/bottom patterns are reversal patterns when price is going up as example and makes a high. It stops for a rest and pulls back; then a continuation attempt finds price stalling @ that prior high. Maybe another retracement and another attempt @ continuation and retest of that high again finds strong resistance. Then we can be talking of double/triple top. In this case price is in a downtrend and only pulled back and hit resistance @ the DOL & DPV before continuing its original trend. Yes I will pay attention to the prior low to ensure it is broken, especially with 2 important US news reports coming out 15 minutes from each other.

EU trade closed for few pips as I never want a profitable trade turn to loser. With 10 pips in my favour and 2 important US news reports coming out 15 minutes apart from each other, I moved stop to break even plus 3. It survived the 1st report but was taken out on the 2nd Home sales report.

Calling it a day for another snooze

Shalom

NB
I just found this excellent video and explanation about double tops/bottoms
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  • #7,196
  • May 22, 2014 1:37pm May 22, 2014 1:37pm
Quoting 919gilead
{quote} I am now short EU with SL @ 3674. I have a trailing stop too with my PT @ 3600. I am going for a snooze {image}
I was there too. Though missed enter on EC... What size of trailing stop you normally use?
  • #7,197
  • May 22, 2014 1:43pm May 22, 2014 1:43pm
Quoting icerock
{quote} I was there too. Though missed enter on EC... What size of trailing stop you normally use?
Just enough to move trade to break even and into profit. Stop on trade was 15 pips and trailing stop was 17.5 pips
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  • #7,198
  • May 22, 2014 1:53pm May 22, 2014 1:53pm
Quoting jmtini
{quote} .......... But I have and use a great signal indi which I find works extremely well on the 1 min chart Happy to share it with those who would like to use it - but must give me their feedback of every trade opened using the indi....... Kind Regards JM
Hey JM,

We're still waiting for the great signal indicator
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  • #7,199
  • Edited 2:36pm May 22, 2014 2:06pm | Edited 2:36pm
Quoting 919gilead
{quote} Just enough to move trade to break even and into profit. Stop on trade was 15 pips and trailing stop was 17.5 pips
I thought you were sleeping
So, you are still in? Btw, I see that you jumped in a bit before the break of H4 candle?
  • #7,200
  • May 22, 2014 2:16pm May 22, 2014 2:16pm
Quoting 919gilead
{quote} I am now short EU with SL @ 3674. I have a trailing stop too with my PT @ 3600. I am going for a snooze {image}
Hello George!
Can you give us the indie from the bottom of your chart please?
Shalom
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