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The similarity system

  • #8,021
  • Sep 12, 2014 8:32am Sep 12, 2014 8:32am
Quoting ephisi
{quote} tnx mate. 1hr ascending trendline needs to break to confirm shorts
breaking in process. moved stop to break even now plus 40 in less than an hr
  • #8,022
  • Sep 12, 2014 8:39am Sep 12, 2014 8:39am
shorting scalp retest of TRZ at 1.2917
  • #8,023
  • Sep 12, 2014 8:44am Sep 12, 2014 8:44am
Quoting ephisi
{quoteVERY STRONG REJECTION AT 52ISH
How do you analyse this PA or 100% TA?
unlearning is difficult than learning-that is the key!!
  • #8,024
  • Sep 12, 2014 8:52am Sep 12, 2014 8:52am
Quoting sram
{quote} How do you analyse this PA or 100% TA?
That was 100percent TA with fundamentals at the back of my mind
  • #8,025
  • Sep 12, 2014 8:55am Sep 12, 2014 8:55am
Very interesting philosophy. i'm not using the indicators in this thread for my real trading, but i respect what you guys are doing. EURUSDD what is your opinion on the MMs controlling the marked?

I can reveal that my trading philosophy is not as philosophical as you guys:

Do NOT follow trend. If trend goes up, mm's are short ready to attack and eat the retail traders who are blindly following trend. Our opponent is not the market. It is the MM, and we can attack their counter trades. Forex is corrupt, and we can benefit from it. I repeat, DO NOT JUST FOLLOW TREND, you will be eaten.
Not about how much you win, but how much you loose
  • #8,026
  • Sep 12, 2014 8:55am Sep 12, 2014 8:55am
Quoting sram
{quote} How do you analyse this PA or 100% TA?
The rejection is seen by the pin. That means on that timeframe (15M), the price did go up and couldn't close or stay at that price and it went down.
A pip is only worth it if you know how much you risked to earn it
  • #8,027
  • Sep 12, 2014 9:04am Sep 12, 2014 9:04am
Quoting ephisi
{quote} we closed back in the triangle. closed my shorts
we may retest 52/55
  • #8,028
  • Sep 12, 2014 9:04am Sep 12, 2014 9:04am
Quoting vlady1974
{quote} The rejection is seen by the pin. That means on that timeframe (15M), the price did go up and couldn't close or stay at that price and it went down.
thanks mate. didnt quite get what he meant
  • #8,029
  • Sep 12, 2014 9:08am Sep 12, 2014 9:08am
Vlady sent Pm
  • #8,030
  • Sep 12, 2014 9:22am Sep 12, 2014 9:22am
Quoting orid
Vlady sent Pm
Sent back. Hopefully all good!
A pip is only worth it if you know how much you risked to earn it
  • #8,031
  • Sep 12, 2014 9:40am Sep 12, 2014 9:40am
Quoting vlady1974
{quote} Sent back. Hopefully all good!
in your debt thankyou
  • #8,032
  • Sep 12, 2014 9:45am Sep 12, 2014 9:45am
a pm for you Burnsss
  • #8,033
  • Sep 12, 2014 9:48am Sep 12, 2014 9:48am
Quoting vlady1974
{quote} The rejection is seen by the pin. That means on that timeframe (15M), the price did go up and couldn't close or stay at that price and it went down.
You can also get a good sense of rejection by looking at the volume on low timeframes (I use M1 or less on the CME futures contract). Not a perfect representation of overall volume but it does its job.

Tricky day today, eh? I almost lost all my gains on that strong move down to 2910, but felt that the huge Top TZ was begging to be revisited. So I foolishly (?) lowered by stops, held on for the retrace, and came out in profit.

Calling it a night now. Good luck guys and have a nice weekend.
You reap what you sow.
  • #8,034
  • Sep 12, 2014 9:50am Sep 12, 2014 9:50am
Quoting NorthTrader
{quote} You can also get a good sense of rejection by looking at the volume on low timeframes (I use M1 or less on the CME futures contract). Not a perfect representation of overall volume but it does its job. Tricky day today, eh? I almost lost all my gains on that strong move down to 2910, but felt that the huge Top TZ was begging to be revisited. So I foolishly (?) lowered by stops, held on for the retrace, and came out in profit. Calling it a night now. Good luck guys and have a nice weekend.
Nice one mate!
If only I had bigger screen real estate I would add a volume indicator... yes, it's a reasonable proxy. I use a VSA type indi - cant recall the exact name.
Yes tricky day. Lost a few on shorts on the lower end 17-20. Keeping the one at 33. Pain in the bum.
A pip is only worth it if you know how much you risked to earn it
  • #8,035
  • Sep 12, 2014 9:57am Sep 12, 2014 9:57am
Quoting vlady1974
{quote} Nice one mate! If only I had bigger screen real estate I would add a volume indicator... yes, it's a reasonable proxy. I use a VSA type indi - cant recall the exact name. Yes tricky day. Lost a few on shorts on the lower end 17-20. Keeping the one at 33. Pain in the bum.
sorry mate. your day job getting in the way. better to wait for next setup than to enter late.
  • #8,036
  • Sep 12, 2014 10:03am Sep 12, 2014 10:03am
Not spending too much time on the thread these days as I feel like I'm 'in the zone' and trading TZ top/bottom setups exclusively. I use the M15 as a barometer and the M5 as the signal i.e. if the next M15 TZ is due to be a top, I will buy when the M5 gives me a signal. It is purely scalping which I know is not good for those at full time jobs but I love the fact that I am flat at the end of every day and most trades last less than 15min.

For those still struggling a bit here are a few hints (but you need to work the rest out yourselves):

1. TZ top and bottoms will almost always happen alternatively. If you get two consecutive tops or bottoms, you can treat this as a DS and price will have to create the missing directional TZ at some point to get back into sync

2. the left hand side and right hand side bars of a TZ have different characteristics. Once you understand this, you can identify when you are potentially beginning the right hand side. If I get a potential right hand side forming on a top M5 TZ and I believe the next TZ for M15 is going to be a bottom, I will sell. If it fails and goes higher, we are now in the realms of a recurrent zone and it will usually return - win/win.

From the tip of vlady/cloggie (thanks vlady) that eurusd usually moves in 20 pip tranches, I now set my SL at 25 on the basis that price will have usually already moved at least 10 pips in a direction before I get a signal to reverse and, if it moves a further 25 pips, it probably isn't coming back any time soon. This SL is still work in progress but seems to be holding up nicely.

This works for all pairs on all tf's (bigger SL's obviously needed for bigger tf's) so, although I'm not particularly into chess, I guess it fits the analogy.

Hope this helps somebody.
  • #8,037
  • Sep 12, 2014 10:19am Sep 12, 2014 10:19am
Quoting hepsibah
Not spending too much time on the thread these days as I feel like I'm 'in the zone' and trading TZ top/bottom setups exclusively. I use the M15 as a barometer and the M5 as the signal i.e. if the next M15 TZ is due to be a top, I will buy when the M5 gives me a signal. It is purely scalping which I know is not good for those at full time jobs but I love the fact that I am flat at the end of every day and most trades last less than 15min. For those still struggling a bit here are a few hints (but you need to work the rest out yourselves): 1....
Wow, that's some good research.

I had noticed the sequencing... but it completely escaped my mind on being able to use that on alternative timeframe sequencing! Ingenius!
As for #2, I will have to research some more as I am either blind or I don't observe / recognise this as often enough to state/know it categorically. It's obviously related to #1 hence why it's been lost on me.

These are gold nuggets Hepsibah! I really appreciate this post and thank you muchly!
A pip is only worth it if you know how much you risked to earn it
  • #8,038
  • Sep 12, 2014 10:20am Sep 12, 2014 10:20am
see you at 1.2960
As Above, So Below
  • #8,039
  • Sep 12, 2014 10:35am Sep 12, 2014 10:35am
Quoting ephisi
{quote} im now short at 46. 20pips sl so i dont have to hit your stop. will add a scalp short if it tests 52
now short
  • #8,040
  • Sep 12, 2014 10:41am Sep 12, 2014 10:41am
Quoting tashkent
see you at 1.2960
target hit in 19 minutes with one strong move which i was waiting for. do not care what is gonna happen next. the job is done.
good weekend ppl.
As Above, So Below
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