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The similarity system

  • #7,021
  • Aug 26, 2014 12:34pm Aug 26, 2014 12:34pm
FWIW and referring back to something said earlier, when trading m15 I wouldn't use S&D zones on that time frame. Rather I would like to draw S&D zones based on H1 or preferably H4 as IMHO they are far more meaningful than those on m15.
  • #7,022
  • Aug 26, 2014 12:41pm Aug 26, 2014 12:41pm
Breakout occured art 18:05
A pip is only worth it if you know how much you risked to earn it
  • #7,023
  • Aug 26, 2014 12:59pm Aug 26, 2014 12:59pm
EU going down. It was a sure trade since it breached 1.3185.
Looking for a turning point to 1.3160-1.3157. If this level is breached then 1.3000 is next target..
  • #7,024
  • Aug 26, 2014 1:12pm Aug 26, 2014 1:12pm
Badass EURUSD as usual I hope all accounts are fine after today.
  • #7,025
  • Aug 26, 2014 1:13pm Aug 26, 2014 1:13pm
Anybody else on board on this call?
  • #7,026
  • Edited 1:41pm Aug 26, 2014 1:25pm | Edited 1:41pm
Quoting dragos_
EU going down. It was a sure trade since it breached 1.3185. Looking for a turning point to 1.3160-1.3157. If this level is breached then 1.3000 is next target..
I have a 2 fill zones:

a) 3160 - 3177
b) 3130 - 3160

EDIT:
I'm favouring the bottom as a target. That's a 30 pip range, so the 50% is 3145. I believe others on the Eurusd thread are talking 3150 as a deep psychological number. Co-incidence? Nah..
A pip is only worth it if you know how much you risked to earn it
  • #7,027
  • Edited 2:00pm Aug 26, 2014 1:50pm | Edited 2:00pm
We are clearing out a big level very soon, after that the bearish movement will be done on the weekly. I don't see price pulling through, we have to many levels to clear on the bullish side. Turnaround probably happening around 1.3163. If price pulls through i wouldn't hold on to my longs.

Is it just me or did we just hit 1.3163 and bounce back?

Peace
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  • #7,028
  • Aug 26, 2014 2:35pm Aug 26, 2014 2:35pm
Quoting Ullen
We are clearing out a big level very soon, after that the bearish movement will be done on the weekly. I don't see price pulling through, we have to many levels to clear on the bullish side. Turnaround probably happening around 1.3163. If price pulls through i wouldn't hold on to my longs. Is it just me or did we just hit 1.3163 and bounce back? Peace {image}

We also have these ones to indicate a new trend. We just ned a bearish spike, and then one more bullish spike to confirm the new trend, and then we should be clearing some levels.

Don't make decisions based on my opinions, i'm just as good as you.
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  • #7,029
  • Aug 26, 2014 3:12pm Aug 26, 2014 3:12pm
Quoting vlady1974
{quote} Indeed.... that concept alone was ringing in my ear when I was reading up on Sam Sieden's Supply/Demand zones : {quote} And the simple indicator for these? Horizontal Lines!
I know Sam's work very well and yes it work well but here Eurusdd isn't talking about supply and demand zone or S and R, but something that happen in the market either each day or week that is a rare event that has a very high probability not to occur again!

Now we can look at some indicators or just even price to give us this info... for example if we have 5,6,7,8 bull candles in a row what it the probability we will see the same again after??

Remember Price moves in waves!! how do you all think we can take advantage of this??
  • #7,030
  • Aug 26, 2014 4:04pm Aug 26, 2014 4:04pm
Quoting josh11
{quote} I know Sam's work very well and yes it work well but here Eurusdd isn't talking about supply and demand zone or S and R, but something that happen in the market either each day or week [...]
However, speaking about SD, check out the levels from 6 Sep13 and 15 Jul13 on Daily EU.
On Daily the trend is clearly bearish, and some BB's are showing a nice down move. Allthough 1.313 is the nearest probable level to be hit, the move looks quite strong and I would incline more to think that 1.3000 is the price target on this timeframe before the daily trend changes.
The analysis is a little bit off-topic, sorry for this, but I am posting it as a reference with respect to target levels.
  • #7,031
  • Aug 26, 2014 4:08pm Aug 26, 2014 4:08pm
Quoting josh11
{quote} I know Sam's work very well and yes it work well but here Eurusdd isn't talking about supply and demand zone or S and R, but something that happen in the market either each day or week that is a rare event that has a very high probability not to occur again! Now we can look at some indicators or just even price to give us this info... for example if we have 5,6,7,8 bull candles in a row what it the probability we will see the same again after?? Remember Price moves in waves!! how do you all think we can take advantage of this??
Just passing by and this is a good one.
  • #7,032
  • Aug 26, 2014 4:21pm Aug 26, 2014 4:21pm
1st attempt:

buy eurusd @ 1.31678

SL at 1.31660
  • #7,033
  • Aug 26, 2014 4:29pm Aug 26, 2014 4:29pm
Quoting Eurusdd
1st attempt: buy eurusd @ 1.31678 SL at 1.31660
Where would you put your TP?
  • #7,034
  • Aug 26, 2014 4:33pm Aug 26, 2014 4:33pm
Quoting Xpyct2003
{quote} Where would you put your TP?
can be anything from 5 to 50+ pips. ur taste. but u r risking just 2pips + spread!
  • #7,035
  • Aug 26, 2014 4:34pm Aug 26, 2014 4:34pm
Quoting Xpyct2003
{quote} Where would you put your TP?
This is not a signaling service. If you have read the entire thread you should know where price is heading.

But as you can see on the 15min chart there are plenty of levels to go for.
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  • #7,036
  • Aug 26, 2014 4:45pm Aug 26, 2014 4:45pm
There could be interesting links between fractal zones and the zigzag indicator.
Cheers,
kprsa
  • #7,037
  • Aug 26, 2014 4:50pm Aug 26, 2014 4:50pm
i don't know about other brokers but eurusd is sitting right at 1.31665, close to 1.31660 the SL. if the first attempt fails, the second or third should give a win. 2 pips risk
  • #7,038
  • Aug 26, 2014 4:52pm Aug 26, 2014 4:52pm
Quoting Eurusdd
i don't know about other brokers but eurusd is sitting right at 1.31665, close to 1.31660 the SL. if the first attempt fails, the second or third should give a win. 2 pips risk
when are we going for other attempts
  • #7,039
  • Aug 26, 2014 4:53pm Aug 26, 2014 4:53pm
Quoting kprsa
There could be interesting links between fractal zones and the zigzag indicator. Cheers, kprsa
What link do you suggest
  • #7,040
  • Aug 26, 2014 4:59pm Aug 26, 2014 4:59pm
Quoting Eurusdd
i don't know about other brokers but eurusd is sitting right at 1.31665, close to 1.31660 the SL. if the first attempt fails, the second or third should give a win. 2 pips risk
Looks like we have the right setup now. #Madmoney
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