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The similarity system

  • #6,781
  • Aug 22, 2014 3:57am Aug 22, 2014 3:57am
Quoting ephisi
{quote} opens?
Sorry for being cryptic... is 88 because last Hour closed at 87.3 therefore to go higher next candle must open at 88 (or above 87.3)
I've seen that technique before in another method many years ago.
A pip is only worth it if you know how much you risked to earn it
  • #6,782
  • Aug 22, 2014 3:57am Aug 22, 2014 3:57am
Trading range on EU is just crap lately - yesterday 46. Compare that with say DAX which was 130. We need more volatility back in EU pair.
  • #6,783
  • Aug 22, 2014 3:58am Aug 22, 2014 3:58am
Quoting vlady1974
{quote} FOUND IT! LOL completely missed this one mate! Yep, I'm all up for it!
cool mate
  • #6,784
  • Aug 22, 2014 4:06am Aug 22, 2014 4:06am
Hmmmmm very bullish move there.
A pip is only worth it if you know how much you risked to earn it
  • #6,785
  • Aug 22, 2014 4:07am Aug 22, 2014 4:07am
Quoting vlady1974
{quote} Sorry for being cryptic... is 88 because last Hour closed at 87.3 therefore to go higher next candle must open at 88 (or above 87.3) I've seen that technique before in another method many years ago.
yes
  • #6,786
  • Aug 22, 2014 4:10am Aug 22, 2014 4:10am
Quoting ephisi
{quote} we are closeing below 88 so i will take the next 30mins TRZ short signal
will updat soon. retest of 74 good for short
  • #6,787
  • Aug 22, 2014 4:11am Aug 22, 2014 4:11am
Hmm I was right about 73 - sorry ephisi
  • #6,788
  • Aug 22, 2014 4:11am Aug 22, 2014 4:11am
Quoting ephisi
{quote} will updat soon. retest of 74 good for short
wait for one hour canle to close first we are at a critical point
  • #6,789
  • Aug 22, 2014 4:12am Aug 22, 2014 4:12am
Quoting ephisi
{quote} wait for one hour canle to close first we are at a critical point
im in at 75
  • #6,790
  • Aug 22, 2014 4:13am Aug 22, 2014 4:13am
Quoting ephisi
{quote} im in at 75
will decide if we close trade after 48minutes. take your profits if u see them
  • #6,791
  • Aug 22, 2014 4:14am Aug 22, 2014 4:14am
Quoting ephisi
{quote} will decide if we close trade after 48minutes. take your profits if u see them
a 1hr candle close below 70 is condition required to continue bearish. it seems the trend is reversing back to major

edit i meant to say below 70. sorry tying fast
  • #6,792
  • Aug 22, 2014 4:15am Aug 22, 2014 4:15am
Well that last M15 candle bounced off daily pivot (for now)
  • #6,793
  • Aug 22, 2014 4:16am Aug 22, 2014 4:16am
Quoting handy148
Hmm I was right about 73 - sorry ephisi
i took first short at break of last 5minutes trend line, closed for 15pips on my last call, now in again at 74. sorry for what?
  • #6,794
  • Aug 22, 2014 4:17am Aug 22, 2014 4:17am
Quoting handy148
Well that last M15 candle bounced off daily pivot (for now)
i believe we will close below pivot soon
  • #6,795
  • Aug 22, 2014 4:27am Aug 22, 2014 4:27am
Quoting feline207
{quote} Also, I still want to learn the difference between full transient and what you call left side transient. Is there anyone willing to explain, thanks
Those are my terms, oops.

I call a bar full transient when it meets the conditions of a transient bar: either no bar +/- h bars makes a higher high or when no bar +\- h bars makes a lower low.
I call a bar left side transient if it is only transient on the left side of the chart, or rather more specifically, if it is only transient on the left side of the bar.

View the screen shot on the bottom. Assume an h value of 5. There are two bars checked and two boxes to denote the general area. The first checked bar is a full transient bar. None of the 5 bars to the left or right make a lower low. Now note the second checked bar at the very right side of the screen. It is a left side transient bar. None of the 5 bars to the left make a lower low. We don't need to know what happens on the right side of that bar to call it a left side transient bar.

All full transient bars are left side transient. Not all left side transient bars are full transient.

Hope this helps.
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"Mrrraggglhlhghghlgh"
  • #6,796
  • Aug 22, 2014 4:27am Aug 22, 2014 4:27am
Quoting ephisi
{quote} i believe we will close below pivot soon
shhhhhhh Trading in progress
  • #6,797
  • Aug 22, 2014 4:33am Aug 22, 2014 4:33am
I have been reading this thread with interest trying to learn but I'm afraid I got burned today..... was in short and price went up to 1 pip past my stop before going down.....had already placed the trade by the time I found this thread.....however from what I am seeing now you are not expecting it to continue with it's recovery up?
Sorry new to this so looking for insight anywhere I can find it...
  • #6,798
  • Aug 22, 2014 4:39am Aug 22, 2014 4:39am
Quoting TessiaFx
I have been reading this thread with interest trying to learn but I'm afraid I got burned today..... was in short and price went up to 1 pip past my stop before going down.....had already placed the trade by the time I found this thread.....however from what I am seeing now you are not expecting it to continue with it's recovery up? Sorry new to this so looking for insight anywhere I can find it...
i hope you got burned on a demo. youre not supposed to be trading live. i dont expect up for now. just my opinion if i see anything i will update
  • #6,799
  • Aug 22, 2014 4:47am Aug 22, 2014 4:47am
Quoting TessiaFx
I have been reading this thread with interest trying to learn but I'm afraid I got burned today..... was in short and price went up to 1 pip past my stop before going down.....had already placed the trade by the time I found this thread.....however from what I am seeing now you are not expecting it to continue with it's recovery up? Sorry new to this so looking for insight anywhere I can find it...
Nothing moves in straight lines my friend.

You firstly need to decide what is the current trend. Use your edge to decide this bias or else everything additional will cloud your judgement.
I suggest you look at larger tf and scale your way down. You're clearly trading intraday.... so perhaps begin with Daily over the last month.

If you've done that, then my next sentence may have some meaning: We are in a down trend (1D)

Current price action over the last 2 days suggests a correction. We have a projected magnitude of 100+ pips which is a normal ATR when all else is equal. But these are interesting times geopolitically and geofinancially, so you the news is a key driver of movements thus far. Today will be a big day.

If you understand that, then a direction will require momentum. Momentum doesn't just begin out of thin air.
If you started to jump over a small stream, what do you do? Jump from a standing position or do you take steps backwards to build momentum on a run-up?
Do you watch cricket or baseball? In cricket, the bowler walks back at least 5-6 metres for his run-up.

Based on this, any moves you are seeing will need to be assessed if it is a normal market move, or is there momentum building for a move.
Analysing multiple timeframes will help you do this and keep the context of all the posts here in line. Eg. watch Ephisi's calls - he mentions at least 2 timeframes, sometimes 3.
A pip is only worth it if you know how much you risked to earn it
  • #6,800
  • Aug 22, 2014 4:51am Aug 22, 2014 4:51am
closed my last trade -2
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