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The similarity system

  • #8,041
  • Sep 12, 2014 11:24am Sep 12, 2014 11:24am
Should have paid more attention to the 4H. As long as it's trending up and still due a ZZBB swing top, EU will edge higher.
Looks like 2980-3000 is where we are headed. These were the initial S/R levels on the dropdown... and the final line in the sand.
Going up there does not signify bulls are back, but this could form part of the Wave 4 retracement I was hoping would begin at a much lower price.

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Edit:
And literally as I type... boom!
A pip is only worth it if you know how much you risked to earn it
  • #8,042
  • Sep 12, 2014 11:29am Sep 12, 2014 11:29am
Quoting vlady1974
Should have paid more attention to the 4H. As long as it's trending up and still due a ZZBB swing top, EU will edge higher. Looks like 2980-3000 is where we are headed. These were the initial S/R levels on the dropdown... and the final line in the sand. Going up there does not signify bulls are back, but this could form part of the Wave 4 retracement I was hoping would begin at a much lower price. {image} Edit: And literally as I type... boom!
yeah, bulls win today.
  • #8,043
  • Sep 12, 2014 11:31am Sep 12, 2014 11:31am
Quoting ephisi
{quote} yeah, bulls win today.
Yeah, only short term. The long wicks are a sure sign of weakness in this bullishness.
The fundamentals of the EU are still pretty crap.... more crashing down from higher levels when it comes.
A pip is only worth it if you know how much you risked to earn it
  • #8,044
  • Sep 12, 2014 11:34am Sep 12, 2014 11:34am
price might be going to these levels now.
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  • #8,045
  • Sep 12, 2014 11:39am Sep 12, 2014 11:39am
Quoting vlady1974
{quote} Yeah, only short term. The long wicks are a sure sign of weakness in this bullishness. The fundamentals of the EU are still pretty crap.... more crashing down from higher levels when it comes.
i smell some more correction. we should test 1.2990 next week or today. posibble also to hit 1.3100. i will be looking for longs around 1.2920/30 monday. scalp short around 1.2990.
done for the week . have a great weekend yall
  • #8,046
  • Sep 12, 2014 11:40am Sep 12, 2014 11:40am
Quoting hukam
price might be going to these levels now. {image}
Not the top level. That would refute all the fundamental reasons that sent prices down in the first place. It doesn't work that way.
The move started in May... it's not unravelled because we hit a "SUPPORT" line. Dollar is up, Eurozone is screwed and a devalued Euro helps the region.
At best, the one level that does make sense are the middle ones.... but the first set are 2980-3000 which is where the first bounce ended after we dropped.
Also, a move towards these prices is not the return of the Bull. It's just a retracement.
A pip is only worth it if you know how much you risked to earn it
  • #8,047
  • Sep 12, 2014 11:41am Sep 12, 2014 11:41am
Quoting ephisi
{quote} i smell some more correction. we should test 1.2990 next week or today. posibble also to hit 1.3100. i will be looking for longs around 1.2920/30 monday. scalp short around 1.2990. done for the week . have a great weekend yall
I think 2930 is the key one. With good old 2925 as the pesky number.

Have a good one mate!
A pip is only worth it if you know how much you risked to earn it
  • #8,048
  • Sep 12, 2014 11:44am Sep 12, 2014 11:44am
And this is the study which i did on gold. and its also obeyed the similarity rules.
i am learning from you friends.
Regards
Hukam
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  • #8,049
  • Sep 12, 2014 11:58am Sep 12, 2014 11:58am
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. TZ...
with you on this one close to what I'm testing the second time frame is great idea, don't know why I didn't think of it , much better than relying on 2 x CI like I have thanks hepsibah good stuff.

regards Orid peter
  • #8,050
  • Sep 12, 2014 12:30pm Sep 12, 2014 12:30pm
Quoting orid
{quote} with you on this one close to what I'm testing the second time frame is great idea, don't know why I didn't think of it , much better than relying on 2 x CI like I have thanks hepsibah good stuff. regards Orid peter
great to hear peter. Just had a couple of rare SL's BUT I know that I will live to see another day and am pretty confident that they will be recovered within a fairly short time. I think we will see something around 1.2947-1.2955 before long. Hope it's before another move up and before end of day to save swap but what will be will be.

Off for a curry
  • #8,051
  • Sep 12, 2014 4:26pm Sep 12, 2014 4:26pm
Quoting ephisi
check your daily charts. 12th of june to 30th june 2014. that was a correction. i believe we will repeat such move. alot of choppy up and down moves in an upward channel till the correction is over. the correction may be 200pips from 1.2858 bottom or more. have a great weekend
We should have such tricky price action for some time. so will be taking profits same day maybe 40 to 80pips. no holding trades for days. till the crazy PA clears up
  • #8,052
  • Sep 12, 2014 8:18pm Sep 12, 2014 8:18pm
eur/usd thank you for explaining your system in simple term's (CHESS)
i know nothing about CHESS (IGNARANT)
but i agree with you !! it's just a game (EMOTION FREE)
you look at forex as a game of chess
i look at forex as an ocean
my price action is the shark
shark, when it sleep it still moves up and down otherwise it will drown (ranging market)
SHARK will move to get the easiest pray that's in front of him before he goes to get the big nugget (fakeout)
the great white doesnt care!!!,he wil consume everything that's in front of him (fundamental's)
REMORA!
undercapitilized traded like you and me
we are REMORA
we dont care where the shark goes!(WE FOLLOW HIM)
when shark wake's up, its like you!! you will strech left and right before you make a technical decision for the upcoming day
just like a boxer
it will stretch his arm's before he understands the opponent
he will look for his weak spot's
disimilarity?
anyway thats just my 2cent's
im not the sharpest tool in the shead!
i just hope that we all can educate each other
  • #8,053
  • Sep 12, 2014 8:27pm Sep 12, 2014 8:27pm
Quoting Neio
{quote} If that holds true there will be a nice big pin on the Weekly.
IT holds my friend
unlearning is difficult than learning-that is the key!!
  • #8,054
  • Sep 12, 2014 8:41pm Sep 12, 2014 8:41pm
Quoting ephisi
{quote} Your call option is very possible. But we cant confirm a pinbar till candle closes. If i were to stick my neck out i would say eurusd will close above 1.2920 . Because the range is most likely to continue. Dont be supprised if she closes 1.2920 +- 5pip. 1.2920 has been pulling price recently
It works mate i made some decent money
unlearning is difficult than learning-that is the key!!
  • #8,055
  • Sep 12, 2014 9:12pm Sep 12, 2014 9:12pm
Quoting hepsibah
... It is purely scalping which I know is not good for those at full time jobs ... here are a few hints ... 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...
Oh I see. When I get home, I will check them out.

I've always wondered how you work with TZs looking at your prev charts. Your h is so small and you get so many signals.
  • #8,056
  • Sep 12, 2014 9:25pm Sep 12, 2014 9:25pm
Quoting sram
{quote} It works mate i made some decent money
great bro
  • #8,057
  • Sep 13, 2014 12:24am Sep 13, 2014 12:24am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting sram
{quote} IT holds my friend
Congrats my friend. Excellent spot!

Although on my platform even though it finished as a pin it was still a bear candle! I try not to trade with too much bias as I scalp small pips both ways but I think next week has a high chance of being a bull week as this is a rare rare event!

Regards

Neio
An expert is a man who has made all the mistakes which can be made
  • #8,058
  • Sep 13, 2014 12:49am Sep 13, 2014 12:49am
Quoting Neio
{quote} Congrats my friend. Excellent spot! Although on my platform even though it finished as a pin it was still a bear candle! I try not to trade with too much bias as I scalp small pips both ways but I think next week has a high chance of being a bull week as this is a rare rare event! Regards Neio
great, i see your trade explorer. great job. i see you seem to be scalping the way eurusdd did and successful too. proud of you. subscribed my friend.
can i open a trade explorer with a non mt4 broker like dukascopy?

anyone?
  • #8,059
  • Sep 13, 2014 1:05am Sep 13, 2014 1:05am
Quoting ephisi
{quote} great, i see your trade explorer. great job. i see you seem to be scalping the way eurusdd did and successful too. proud of you. subscribed my friend. can i open a trade explorer with a non mt4 broker like dukascopy? anyone?
Just checked forexfactory. they only allow mt4 accounts for now. my broker is dukascopy. guess i will hook up a demo account. i want to do this to enable me focus more on trading without having to post my trades here immediately. allowing me to post only when i have to
  • #8,060
  • Edited 2:54am Sep 13, 2014 1:15am | Edited 2:54am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting ephisi
{quote} great, i see your trade explorer. great job. i see you seem to be scalping the way eurusdd did and successful too. proud of you. subscribed my friend. can i open a trade explorer with a non mt4 broker like dukascopy? anyone?
Thank you my friend. I am sure you are doing just as well!

I have only ever used the MT4 platform so not sure.

Still early days for me using what I have learnt here but so far looks very promising and I even made a few mistakes last week getting caught against the trend. So still looking to improve.

For those of you that are struggling to come up with anything, here are some thoughts for you.

Everything you need to trade EU successfully is all in the threads provided by Eurusdd. Now Eurusdd does not exactly spelled everything out and I don't understand everything he has shown but I have understood enough to explore for myself and find good way to trade that gives me more confidence.

My advice to you if you are serious about finding your own successful way to trade in Eurusdd style.

1. Read the threads - I recommend a few times as every time I go back something became clearer.
2. Experiment - Indicator settings (Stoch, BB, TZs etc)
3. Back-test - While experimenting. Look for patterns, rare events, entry points were you can make high probability lower risk entries. See what worked and what did not and make adjustments.

I personally find TZs are great and there are a number of ways to play them depending on your h settings. I also like stochs.

Yes the above will take time. But those who are successful have done this.

Here are 3 things I learnt from Eurusdd threads.

1. Random processes like markets can be given some structure so that they can be more predictable.
2. Look for rare events for high probability trades.
3. Use indicators properly to help you find these rare events.

I hope my success so far continues and I hope those that are determined enough and are willing to put in the time will also be successful.

Thank you to all contributors and ultimately thank you to Eurusdd to opening eyes and helping us to see the markets the way he does!

Regards

Neio
An expert is a man who has made all the mistakes which can be made
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