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Attachments: my system of 20 pips
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my system of 20 pips

  • #981
  • Oct 18, 2014 12:35am Oct 18, 2014 12:35am
oh btw, i have this trade on USDCAD. isn't it obvious?
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  • #982
  • Oct 19, 2014 3:01am Oct 19, 2014 3:01am
Quoting catextract89
oh btw, i have this trade on USDCAD. isn't it obvious? {image}
Great trade. I have been following this thread and read and reread from the start. I have learned alot from FX Action and for along time have realised the importance of support and resistance. I posted 3 successful trades I had earlier this week I think the post was 949. They had my own entry as learned from being put in the right direction by Fx Action. I understand the need not to spoon feed people but I also actually believe you need to give a little more info about your trigger at these areas. Keeping telling people you wont spoon feed them does not help people to learn. I have reread this thread twice and still don't actually understand how you enter. I understand the area and I am working ways I can get myeslf into the trade but I think you should help a little more because you are obviously a top top trader and could really help people. I thank you so much for starting this thread as I have learned so much.
  • #983
  • Oct 19, 2014 3:48am Oct 19, 2014 3:48am
Quoting catextract89
oh btw, i have this trade on USDCAD. isn't it obvious? {image}
Nice trade Catex!

I had the exact same entry trade as yours but chicken out when it dip before touching my SL 20 pips below.

Its good to have you back!
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Price Action Always Tell The Truth
  • #984
  • Oct 19, 2014 5:24am Oct 19, 2014 5:24am
hi catex

your strategy is based on a great concept

thanks
  • #985
  • Oct 19, 2014 7:16am Oct 19, 2014 7:16am
i am happy to get the loophole .. its all about loophole.. FXAction is trading it with much better way combo with activity . will pm you and post charts later.. thanks
Think Twice Low Volume is Key to Success
  • #986
  • Oct 19, 2014 8:18am Oct 19, 2014 8:18am
Seems logical to me.
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  • #987
  • Oct 19, 2014 1:44pm Oct 19, 2014 1:44pm
here it is. i just got assign to a new job on Wednesday. i hope i would not be away for a long time.
anyway, here it is, the reason why. the big question, why a buy?

1. resistance to support confirm. the first "tick" mark
2. "x" mark show price is not holding in that level. go through with no problem.
3. a wick showing that buying is strong and trader interested on that level.
4. i open my buy after i see the first wick.
5. i hold my position after i see the second wick.

open h4 and it will be much more clearer to you
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  • #988
  • Oct 19, 2014 2:19pm Oct 19, 2014 2:19pm
Cate,
Agree 100% about H4, and the entry could have been earlier if aggressive.
  • #989
  • Oct 19, 2014 5:58pm Oct 19, 2014 5:58pm
if i have it correct this is quite a nice system. fxaction could you pm me about your approach that would be spot on. i just love forex factory!!!!
  • #990
  • Oct 19, 2014 6:02pm Oct 19, 2014 6:02pm
Quoting FXAction
One of the things that made me decide to pursue trading the financial instruments is to avoid brutes, and all along I have been shielded since I commenced. But now that I came out to help people by following Cartex concept , my desire for avoiding these brutes in public is defeated. Having said this, I once more recoil back to my shell. I say good bye to all my friends and I hope that the little I have contributed if any, will help in the pursuit of the trading career. Good bye folks as I wish you all more green pips to your elbow.
ignore the trolls, keep the community going. your input is ever so valuable.
  • #991
  • Oct 19, 2014 7:57pm Oct 19, 2014 7:57pm
EURUSD H4, USDCHF H4
now look here at this pair. i don't think there is much of a different from the current buy setup at USDCAD
  • #992
  • Oct 19, 2014 8:19pm Oct 19, 2014 8:19pm
Quoting catextract89
here it is. i just got assign to a new job on Wednesday. i hope i would not be away for a long time. anyway, here it is, the reason why. the big question, why a buy? 1. resistance to support confirm. the first "tick" mark 2. "x" mark show price is not holding in that level. go through with no problem. 3. a wick showing that buying is strong and trader interested on that level. 4. i open my buy after i see the first wick. 5. i hold my position after i see the second wick. open h4 and it will be much more clearer to you {image}
Thanks for your explaination
  • #993
  • Oct 19, 2014 8:22pm Oct 19, 2014 8:22pm
Quoting catextract89
here it is. i just got assign to a new job on Wednesday. i hope i would not be away for a long time. anyway, here it is, the reason why. the big question, why a buy? 1. resistance to support confirm. the first "tick" mark 2. "x" mark show price is not holding in that level. go through with no problem. 3. a wick showing that buying is strong and trader interested on that level. 4. i open my buy after i see the first wick. 5. i hold my position after i see the second wick. open h4 and it will be much more clearer to you {image}
I have learnt another valuable lesson!

Thank you!
Price Action Always Tell The Truth
  • #994
  • Oct 19, 2014 9:10pm Oct 19, 2014 9:10pm
EURUSD H4 gave me my 20 pips entry 2744 tp 2768
  • #995
  • Oct 20, 2014 12:11am Oct 20, 2014 12:11am
Quoting catextract89
here it is. i just got assign to a new job on Wednesday. i hope i would not be away for a long time. anyway, here it is, the reason why. the big question, why a buy? 1. resistance to support confirm. the first "tick" mark 2. "x" mark show price is not holding in that level. go through with no problem. 3. a wick showing that buying is strong and trader interested on that level. 4. i open my buy after i see the first wick. 5. i hold my position after i see the second wick. open h4 and it will be much more clearer to you {image}

Hi catextract89,

wasn't a good entry, after on wich rejection, the 16th of october (USDCAD)?

Here is what i saw:
- level 1,1240 rejected with nice pin-bar
- support level
(the buy stop order should be placed after the close of the pin candle above the green arrow).


What is the difference between this setup and the one that u took?

Thank you!
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  • #996
  • Oct 20, 2014 1:03am Oct 20, 2014 1:03am
Dear Cat,

Pls correct me if i'm wrong. IMO mean of "history repeat itself" is how the candle react on the level itself on the future or on the current time, not just only on the candle. whatever the colour of candle is, the main object is still on the level. Does the level was break or not in the past. The candle just represent the behaviour of trader because of that level. So the level is the key point here.

Now the question is : if in the past (let say level *.00) are break, then when that level will be break again in the future or in the current day?
This is must we figure out "WHEN". Does the level will be break on opening session...? 1 hour after opening session ? closing session...? 1 hour before closing session...? or the level will be break after the News Realease.

Thats is our home work. The price is there, the level is there, I think slowly but sure i'm getting to understand.

Regards
  • #997
  • Oct 20, 2014 3:19am Oct 20, 2014 3:19am
Dear Cat,
Thank you for the explanation! However I am not so sure that this was a safe trade. Yes, after the first pin bar you could anticipate change of direction but you don't know yet. The higher volume and no progress of the price indicates battle between buyers and sellers and that's why there was 2-3 long tailed candles on the chart which closed within the first pin bar range. If you went by your rule of 20 pips SL you would have been stopped out(see the chart).
Instead, wouldn't it be better to wait for the bullish momentum to build and trade after we get a close above the top of that first pin bar which is the level .xx60- .xx80? Also if we look left on the chart we can see how many times this area was easily pierced. And this is what we want, right - a quick and smooth passage of price from one level to another. Please, correct me if I am wrong!
I also wish FXAction would come out of his shell. I miss his charts and comments.
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  • #998
  • Oct 20, 2014 7:11am Oct 20, 2014 7:11am
open H4 chart. it will get more clear. dem i draw the graph wrongly. i'll update it in a bit

done, now it is correct.

i was so sure that the trade will go up. thaty i dont have SL on this one. i adapt to market.

Quoting Bordy
{quote} Hi catextract89, wasn't a good entry, after on wich rejection, the 16th of october (USDCAD)? Here is what i saw: - level 1,1240 rejected with nice pin-bar - support level (the buy stop order should be placed after the close of the pin candle above the green arrow). What is the difference between this setup and the one that u took? Thank you! {image}
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  • #999
  • Oct 20, 2014 7:21am Oct 20, 2014 7:21am
Quoting ponchofx
Dear Cat, Thank you for the explanation! However I am not so sure that this was a safe trade. Yes, after the first pin bar you could anticipate change of direction but you don't know yet. The higher volume and no progress of the price indicates battle between buyers and sellers and that's why there was 2-3 long tailed candles on the chart which closed within the first pin bar range. If you went by your rule of 20 pips SL you would have been stopped out(see the chart). Instead, wouldn't it be better to wait for the bullish momentum to build and trade...
again on USDCHF H4
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  • #1,000
  • Oct 20, 2014 7:32am Oct 20, 2014 7:32am
Quoting catextract89
{quote} again on USDCHF H4 {image}
Price Action Always Tell The Truth
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