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What is and what should never be*

  • #41
  • Jun 10, 2014 8:48am Jun 10, 2014 8:48am
Quoting itsallover
{quote} So you're looking for these patterns in the H1 and H4?
I'm looking for these patterns on H1 to get my entry signal... I keep an eye on D1 to know if trend is about to change or continue. The smartest thing to do is to take very few trades, when daily pulls back. Unfortunately, trends aren't as long-lasting as they used to be when I first started. Pairs like EJ are plateau-ing, EU and others are seriously rangebound, stuck between two extremes and oscillating between both. Sadly. Which is why I pay close attention to these ranges and look at D1's behavior around them.
  • #42
  • Jun 10, 2014 8:57am Jun 10, 2014 8:57am
Quoting WDays
{quote} I'm looking for these patterns on H1 to get my entry signal... I keep an eye on D1 to know if trend is about to change or continue. The smartest thing to do is to take very few trades, when daily pulls back. Unfortunately, trends aren't as long-lasting as they used to be when I first started. Pairs like EJ are plateau-ing, EU and others are seriously rangebound, stuck between two extremes and oscillating between both. Sadly. Which is why I pay close attention to these ranges and look at D1's behavior aroutter than tesing indies thatnd them....

Well backtsting must be pretty accurate.... a lot better than testing indies that keep printing and changing ...

I still love TDI though
.... laughing all the way to the bank
  • #43
  • Jun 10, 2014 9:57am Jun 10, 2014 9:57am
Quoting itsallover
{quote} lol.... I have no idea what you just said. Are you asking who's turn it is to make dinner ?
  • #44
  • Jun 10, 2014 3:37pm Jun 10, 2014 3:37pm
Quoting lastingwell
{quote}
I want my fairy dust back....
.... laughing all the way to the bank
  • #45
  • Jun 11, 2014 6:36am Jun 11, 2014 6:36am
EURNZD reached bottom of range, time to pay attention to daily close and look for an eventual continuation, or a turn to the upside. EA is between the old 1.4130 low and 1.45800 top (cleared). The path of least resistance is to the downside, but a weekly close above 4580 could mean a continuation to the upside. Time will tell, but basically both are on my watchlist for now.
  • #46
  • Jun 11, 2014 4:37pm Jun 11, 2014 4:37pm
Entered a bit late, price took the plunge with the midnight kiwi report and then it retraced back taking my now b/e stop (trailed by cavemanager)
Attached Image(s) (click to enlarge)
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  • #47
  • Jul 1, 2014 3:44am Jul 1, 2014 3:44am
Back from a (study) break... Taken long on a BUOB + touch of the 50EMA on the m15. Had not set a TP, was waiting to see the results of the PMI. Also bullish flag was apparent, so I took the trade with upmost confidence.
Attached Image (click to enlarge)
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  • #48
  • Jul 1, 2014 4:01am Jul 1, 2014 4:01am
Looking great WDays! I was hawking the pair for a chance to get on long too. Entered a bit late, price already broke 6 pips above Asian range.

Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #49
  • Jul 1, 2014 4:02am Jul 1, 2014 4:02am
Quoting WDays
Back from a (study) break... Taken long on a BUOB + touch of the 50EMA on the m15. Had not set a TP, was waiting to see the results of the PMI. Also bullish flag was apparent, so I took the trade with upmost confidence. {image}
Nice one WD
.... laughing all the way to the bank
  • #50
  • Jul 1, 2014 4:32am Jul 1, 2014 4:32am
Quoting Direwolf
Looking great WDays! I was hawking the pair for a chance to get on long too. Entered a bit late, price already broke 6 pips above Asian range. {image}
Still good for a few bucks bro I only had one entry in that trade, so I closed after the news candle topped out. Otherwise I could have left it with a protected b/e...

Quoting itsallover
{quote} Nice one WD
Thanks
  • #51
  • Jul 1, 2014 11:28am Jul 1, 2014 11:28am
I had to step out so I missed the many reentry possibilities the m15 presented, unfortunately... I'm still in the green today, so all is well that ends well.
  • #52
  • Jul 1, 2014 11:35am Jul 1, 2014 11:35am
Still holding AU here, around +50 pips now. Looking at weekly I think the next major flip zone would be another 150 pips up. Unless their banks change their stances the up move may be able to continue for a while. I'll hold it till next week before I decide my next move
Everything you can imagine, is real - Pablo Picasso
  • #53
  • Jul 3, 2014 5:34am Jul 3, 2014 5:34am
Cable stalling around the 1.7165 level... USD has shown a little strength with some good employment data, far better than expected, the GBP is not looking so bullish right now. Need to on the lookout for an eventual reversal. The hourly 62EMA acted as it should and threw price back up, though. Would have been some nice scalps if I had been around, unfortunately I had spent the night out and was too hungover to trade
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  • #54
  • Jul 7, 2014 4:55am Jul 7, 2014 4:55am
Let's see....

Huge payroll rise last week, 288k. Unemployment rate drops to 6.1% (officially, real unemployment is way higher). Average job growth was 231k/month for the first half-year. The DOW broke 17,000. FED tapered QE for the 5th time during FOMC, wednesday. They lowered growth forecast and Yellen is still sounding dovish.

As far as the EZ goes, Draghi maintained his dovish tone, saying that it will be a long time before rates are raised and this presents risks to the downside. It is important to note that the ECB is monitoring ECB very closely, in case it should break of the corridor it is planned in.

GBP, positive PMIs are translated as ongoing expansion, recovery. The BOE IR were supposed to be raised next year, following the elections, but seeing as unemployment target (below 7% was reached earlier), rates could be seen up to 3% much sooner. This week's highlights for the GBP are the manufacturing production and the BOE IR and QE decisions....


Also, technically speaking, since I'm trading mainly cable, here's something noteworthy.
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  • #55
  • Jul 9, 2014 7:24am Jul 9, 2014 7:24am
EURAUD rising wedge (lines drawn with m15 swings)... Low liquidity, so will play this safe, no agressive entries only sell it once it breaks out. Currently in a GJ short, which is going painfully slow.
Attached Image (click to enlarge)
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  • #56
  • Aug 28, 2015 4:39am Aug 28, 2015 4:39am
This week was plenty generous, approaching markets with no indicators, completely rebuilt myself as a trader....

5 trades on EU:

1) 90 pip
2) 10 pip
3) 30 pip
4) 20 pip
5) 40 pip
------------Total
190 pips on EU

3 on UJ:

1) 22.5 pip
2) 10 pip
3) 20 pip
------------Total
52,5

Which is a total total of 242.5 pips for the week. Too bad I didnt caught the entirety of the moves...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDJPYM15.png Size: 59 KB
  • #57
  • Aug 28, 2015 4:49am Aug 28, 2015 4:49am
Quoting WDays
Here's some of the PA I look for... I take outside bars only as a continuation pattern. I take double bar high/low with lower/higher close as a reversal pattern. I look for pinbars (my last trade was entered based on a pin-like formation)... It makes for high probability trading and cheap stops... I look for these patterns on M15, H1, up to D1 and sometimes W1 (rarely), because I want to know if I'm still in the trend or if the bigger picture (24 hours worth of information in one candle) is showing a turn around... {image}
Have you considered standardizing this PA set up into an algorithm and testing/trading it in an EA? This would alleviate having to worry about closing positions while you sleep.
  • #58
  • Aug 28, 2015 4:55am Aug 28, 2015 4:55am
Quoting Pipologist
{quote} Have you considered standardizing this PA set up into an algorithm and testing/trading it in an EA? This would alleviate having to worry about closing positions while you sleep.
I am not really fond of EAs. I have friends that use them and do well, but it's just not my thing. I don't feel the need to be in a trade everywhere all the time and I don't need to make hundreds of pips every week. This week is way overshooting my target.

Also, I have kind of lost my trust in candle patterns, I still look out for them but they are no longer the bread and butter of my trading. My trading is more focused around highly probable areas of liquidity that I spot out with a few glances of the charts.

This is actually an old thread of mine, that contains the first babysteps that I took into trading with no indicators and having a clean chart. I did not want to create yet another thread, so I just bumped my old one and it has a bunch of stuff that no longer hold true.
  • #59
  • Aug 28, 2015 4:28pm Aug 28, 2015 4:28pm
Quoting WDays
{quote} I am not really fond of EAs. I have friends that use them and do well, but it's just not my thing. I don't feel the need to be in a trade everywhere all the time and I don't need to make hundreds of pips every week. This week is way overshooting my target. Also, I have kind of lost my trust in candle patterns, I still look out for them but they are no longer the bread and butter of my trading. My trading is more focused around highly probable areas of liquidity that I spot out with a few glances of the charts. This is actually an old thread...
Hey stranger!
Fancy seeing you here!
.... laughing all the way to the bank
  • #60
  • Aug 29, 2015 6:06am Aug 29, 2015 6:06am
Quoting itsallover
{quote} Hey stranger! Fancy seeing you here!
Hi there yep, crawled up from underneath my rock
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