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Up and under price pattern

  • #381
  • Nov 22, 2014 9:46am Nov 22, 2014 9:46am
Quoting stricky1967
{quote} ha, I took #8 but lost my bottle and closed during that last green candle before it predictably sh*t itself....never mind caught this one on USD/JPY that made up for it though, a savage push down with an 'oh, bollocks' engulfing candle then nicely back up again. {image}
Ah.. the old close and drop.... yeah know that one too.

Well you certainly made up for it, that's a nice trade man, no bottle losing there. Yes technically known as an 'OB' engulfing candle

Look at that 117.95 level smacking it back in the ring.
  • #382
  • Nov 23, 2014 3:20am Nov 23, 2014 3:20am
Quote
The price is showing the way, I have no preconceptions of which direction "I think" it should go.

I really admire your trading style and your ability to read the market. It seems simple at a glance, but hard to achieve.
The purpose of knowledge is action, not knowledge
  • #383
  • Nov 23, 2014 12:59pm Nov 23, 2014 12:59pm
Quoting alifari
{quote} I really admire your trading style and your ability to read the market. It seems simple at a glance, but hard to achieve.
Thank you alifari.

It is simple you're absolutely right, it has to be otherwise I couldn't do it.

The hard part is the execution. How do you become better at execution?...... training.

Download a decent market simulation program (I use ForexTester) and get in the ring.

Create the exact trading environment that you're used to and trade a previous session, (one that you don't know obviously otherwise you'll cheat).

Look at the results and see how you did. Repeat. Get better at it. Gain a skill. Move to live account (micro or mini lots) always analysing the results. If things go well and you see consistency then increase size slowly. Stay with the increased size for a time before increasing again. If things start to go badly reduce size. Keep up the training when not trading live.

It is hard to achieve, but you may be about to radically change your life..... I think that's worth a bit of effort.
  • #384
  • Nov 23, 2014 1:03pm Nov 23, 2014 1:03pm
Explanation of the broken swing trade.

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  • #385
  • Nov 24, 2014 2:26pm Nov 24, 2014 2:26pm
excellent quidsey

this principle works well in h4

I use long... but you do it better than me... I wil try to learn how to operate your

thanks
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  • #386
  • Nov 24, 2014 2:29pm Nov 24, 2014 2:29pm
in this case... whould you look for a buy??

thanks
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  • #387
  • Nov 24, 2014 4:24pm Nov 24, 2014 4:24pm
Quoting porfirio
in this case... whould you look for a buy?? thanks {image}
Hi, wow porfirio you really like your exotics man sorry I don't have much time this week to put up charts but key levels on that pair for me would be 75706 buy. If it fails sell it. Second level 7511 buy, last 7491.

I have no idea how this pair reacts to this kind of trading, at a quick glance it looks as if it likes to squeeze so it might overshoot. Very rangebound pair I'd want to trade the extremes of price rather than the middle which is where we are now.
  • #388
  • Nov 24, 2014 4:28pm Nov 24, 2014 4:28pm
Very nice GBPAUD trade by the way, well spotted.
  • #389
  • Nov 24, 2014 5:35pm Nov 24, 2014 5:35pm
buyers are beginning to show weakness...like you said
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  • #390
  • Nov 25, 2014 11:21am Nov 25, 2014 11:21am
Hi all. I am a new trader and I want ask you - is it valid setup?
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  • #391
  • Nov 25, 2014 3:55pm Nov 25, 2014 3:55pm
Quoting ViktorMat
Hi all. I am a new trader and I want ask you - is it valid setup? {image}
Looks good. 9686 usdchf2418 eurusd
  • #392
  • Nov 25, 2014 4:52pm Nov 25, 2014 4:52pm
There are many entries in all tf

example ... gn h4 and w1
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  • #393
  • Nov 25, 2014 4:59pm Nov 25, 2014 4:59pm
are patterns that repeat over and over again
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  • #394
  • Dec 3, 2014 2:13pm Dec 3, 2014 2:13pm
hello

I have been studying the strategy to see where to enter with the minimum possible sl

shi channel is a good option, once broken the last high or low
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  • #395
  • Dec 3, 2014 2:18pm Dec 3, 2014 2:18pm
more examples...
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  • #396
  • Dec 3, 2014 2:22pm Dec 3, 2014 2:22pm
more...
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  • #397
  • Dec 3, 2014 4:11pm Dec 3, 2014 4:11pm
my god!, my eyes are hurting...porfirio why are cluttering this clean thread and spoiling beautilful charts with this mess...it's hard to see the price line on your charts
  • #398
  • Dec 3, 2014 4:45pm Dec 3, 2014 4:45pm
Quoting porfirio
hello I have been studying the strategy to see where to enter with the minimum possible sl shi channel is a good option, once broken the last high or low {image}
Hi, if it works for you that's great, personally I can't see the wood for the trees on your charts.

Btw, here's an update on recent entry questions from yourself and Viktor...... Viktor may have left the building

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  • #399
  • Dec 3, 2014 4:46pm Dec 3, 2014 4:46pm
Quoting ViktorMat
Hi all. I am a new trader and I want ask you - is it valid setup? {image}
Don't know if you're still about mate, just wondering if you took that trade?
  • #400
  • Dec 8, 2014 8:29am Dec 8, 2014 8:29am
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