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  • #6,381
  • Oct 11, 2014 9:04am Oct 11, 2014 9:04am
Quoting Vengeance
{quote} Great entry on buying the breakout off the low on that ascending triangle and of trusting yourself and your plan! I'm just jealous I didn't get in there. I ended up fading the initial spike to 1.1243 (short 1.1234) after NFPs though I shouldn't have on such a strong number. Got out at 1.1224 for a measly 10 beeps and went long at 1.1226! I'll trade you my long for yours! file:///C:/Users/arshad/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gif


Hi Vengeance,

Thank you for your kind words and sentiment.
Since u mentioned NFP i am taking this liberty to give my actions, hope its ok with u.

As u may have noticed from my charts, wen i enter a trade than i expect to be in that trade for several days or weeks, AND i may pyramid everytime an entry signal is generated. To me it does not matter whether my initial position is in a Loss or in Gain as i'm trading in the direction of Weekly Trend. Added confidence in executing the trade is when Monthly Trend is in agreement with the Weekly {MAIN TREND}, even better if the Daily Trend is also in same direction as the 2 bigger Timeframes.

Now i anticipate which way Price Action may move on release of that news....
What do i anticipate ??? - as we all know - is fast price action.

...what i anticipate before an important news such as the NFP, is a Spike that will move very fast...against the Main Trend,
...i will know when i'm right in my anticipation when that spike is creating great excitement amongst the Intraday traders.
...i don't stay glued to the screen
...i will check in hourly or every 4hrs to look for an EFB {Emotional Flare bar} or EEB {Emotional Exhaustion bar}
...when i see that then i enter in the Direction of the Main Trend
...i may, if i have the inclination, drop down to a smaller intraday timeframe and execute with more refinement and precision, but its not necessary in my experience.

Thats it !
...No big secrets
...No additional indicators or complex mathematical indicators derived from price
  • #6,382
  • Oct 11, 2014 9:12am Oct 11, 2014 9:12am
Quoting H4-forex
my simple analysis ... why USDCAD is Bullish ..... next week it should break last week high ....for more bullish ... {image}
Hi H4,

Clear CleanChart...needless to say, your analysis mirrors mine.
now that you have planned your next weeks trade direction in this pair, i wish u success.
  • #6,383
  • Oct 11, 2014 9:12am Oct 11, 2014 9:12am
Quoting sunshine
....an EFB {Emotional Flare bar} or EEB {Emotional Exhaustion bar} ...when i see that then i enter in the Direction of the Main Trend ......

Can you post a chart and show with explanation those EFB and EEB, please?
The Market pays you to be disciplined
  • #6,384
  • Oct 11, 2014 9:33am Oct 11, 2014 9:33am
hi mima,

ok thk u for your request, i will do that, maybe go one better and post from my actual trades, but my missus is demanding my attention now....so when i get a chance i will do so, God Willing.
  • #6,385
  • Oct 11, 2014 9:34am Oct 11, 2014 9:34am
Quoting sunshine
{quote} Hi H4, Clear CleanChart...needless to say, your analysis mirrors mine. now that you have planned your next weeks trade direction in this pair, i wish u success.
hi sunshine... thx for ur words...
well im already in trade from last week ...lookin for more 300pips up....
how abt u ?
  • #6,386
  • Oct 11, 2014 9:35am Oct 11, 2014 9:35am
actually, i think i did already... in the interim, u can go to my journal, maybe the last or 2nd last page.
look for a 4hr chart on those 2 pages.
  • #6,387
  • Oct 11, 2014 3:49pm Oct 11, 2014 3:49pm
Quoting sunshine
actually, i think i did already... in the interim, u can go to my journal, maybe the last or 2nd last page. look for a 4hr chart on those 2 pages.
Is this additional reply to me? I was in your journal and did not see any remark to EFB and EEB...I will wait when you have time for it.
The Market pays you to be disciplined
  • #6,388
  • Oct 11, 2014 11:25pm Oct 11, 2014 11:25pm
Quoting sunshine
Trend, according to my reading of the charts is still firmly Up ...below is the Daily chart of the Loonie so, i plan my trade and then i trade my plan ...that's why i entered long yesterday off the 30min chart ...at that time of entry, everywhere was blood...red everywhere on my intraday charts ...the green ellipse on the wick of the Daily candle indicates the buy entry off the 30mins chart {image}
good entry ...
  • #6,389
  • Oct 12, 2014 12:03am Oct 12, 2014 12:03am
hello all ....
what do u think of this setup ?
Attached Image (click to enlarge)
Click to Enlarge Name: US-CAD.JPG Size: 112 KB
  • #6,390
  • Oct 12, 2014 2:47am Oct 12, 2014 2:47am
Quoting mima
{quote} Can you post a chart and show with explanation those EFB and EEB, please?
below are the charts that you requested. The daily chart, i already posted on friday 3 Oct on page 318 of the thread -post no: 6,360- and the 30min chart the day before on the 02 Oct, please don't focus on the 30min chart now. Since most of my USDCAD longs were closed that Monday morning, i can't show u my entry on the 4hr, but i will post the 4hr and highlight the entry--u can then reference it with 30 or Daily entry price, but i will do that for u on the 4hr chart.

Please Note, i also refer to that specific Chart Pattern as a Distress Signal {DS}, or Distress Chart Pattern {DCP}, i may use them interchangeably
...but the whole bar Setup is just what the word "setup" implies---a con, a trap---some other traders may refer to the very Last bar as Shooting Star and some by even more labels.

The Following is important::

...recognise the DCP setup when it happens,
...be aware of the TF [timeframe] you are monitoring [i mean "monitor", not be "glued" to the screen, unless you are trading the smaller intraday TF's, yes the same DSC will play out in all TF's]
...i don't enter with a Stop Loss [SL]...hooo...eee---there !!! the cat is amongst the pigeons !!!
...you have 3 options/suggestions;

  1. don't take the trade,
  2. take the trade with your normal trade size and SL, if u do this then prepare to be Stopped out especially if your SL is tiny like 20/30 pips.
  3. decrease your trade size with no SL, if u select this option then i would suggest to enter a trade size of 0.3 if your usual trade size is 1...after that u can pyramid or stack or scale-in with another 0.3 or 0.7 as the trade moves in your favour with PA [Price Action] confirming your trade direction and additional entry signals.​

The difference between the 30min entry and entry after close of 4hr bar was about 12 pips earlier.

​

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  • #6,391
  • Oct 12, 2014 10:46am Oct 12, 2014 10:46am
Quoting sunshine
{quote} below are the charts that you requested. ...
Thank you. Which bar on chart is EEB and which one is EFB specifically?
The Market pays you to be disciplined
  • #6,392
  • Oct 12, 2014 11:47am Oct 12, 2014 11:47am
Inserted Video
"W. D. Gann said that time is the most important factor among all things."
  • #6,393
  • Edited 2:44pm Oct 12, 2014 2:32pm | Edited 2:44pm
Quoting mamalujo
{quote} goodluck bro, thought about taking a new short when price got back above 1.1200, but didnt have enough balls as it was the last trading day of the week, plus i had met my target for the week. Never been really caught on the wrong side of a gap though, but kept thinking abt the gap on gbp pairs last month when the scotland referendum vote was making news, i remember i had a GU long and closed some hours to the close, imagine i left it open over the weekend wit the market opening over 100pips against me
Ty bro. I feel ya iv had those times when i lost my balls.. usdcad premarket open 1.1178 and thats means money cuz i had 3lots from 1.1217 but im targeting 1.0090 area...
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #6,394
  • Oct 12, 2014 4:15pm Oct 12, 2014 4:15pm
From 10/06/2014, this pair has been struggling to close above the 1.12 figure in 4hours chart. And in 1 hour chart, this pair trying to close below 1.1170 but have been unsuccessful. I guess that will be our new range for this pair.
  • #6,395
  • Oct 12, 2014 4:29pm Oct 12, 2014 4:29pm
Quoting MrketSniper
From 10/06/2014, this pair has been struggling to close above the 1.12 figure in 4hours chart. And in 1 hour chart, this pair trying to close below 1.1170 but have been unsuccessful. I guess that will be our new range for this pair.
U are right.. I added more shorts now
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #6,396
  • Oct 12, 2014 7:20pm Oct 12, 2014 7:20pm
I'm looking for more upside this week, my timing could be off though.
Freedom 30?
  • #6,397
  • Oct 13, 2014 12:15am Oct 13, 2014 12:15am
Quoting eqshack
{quote} U are right.. I added more shorts now

im still flat though, there seems to be dollar weakness against most majors- GBP, EUR, AUD and JPY, but UCAD aint dropping at all, something's up i feel, but im still short biased.
  • #6,398
  • Oct 13, 2014 3:44pm Oct 13, 2014 3:44pm
Going short SL 1,122 TP OPEN WIDE
  • #6,399
  • Oct 13, 2014 11:55pm Oct 13, 2014 11:55pm
Quoting mazurskilos
Going short SL 1,122 TP OPEN WIDE
be careful, i see differently but then my trading TF and holding periods maybe longer than yours but for what's its worth, i hope u right in your trading assessment and trade.
  • #6,400
  • Oct 14, 2014 12:42am Oct 14, 2014 12:42am
I have been opening my long at 1.11950 and closed it around 1.12050. And short to 1.11950. If you look at yesterday how many times it has been going up and down around this range, it is really good profit.
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