DislikedIs anyone interested in seeing my 1m chart which gave the long entry this morning?Ignored
Carpe diem: Intraday tactics for Dax and Dow
- #5,402
- Feb 18, 2015 1:26am Feb 18, 2015 1:26am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #5,403
- Feb 18, 2015 1:28am Feb 18, 2015 1:28am
- Joined Oct 2010 | Status: Trader | 5,442 Posts
I've closed at R1 as I am out all day today. I do think it will go higher today but that'll do me. I'll post the 1m chart before I go for you Capetown
- #5,405
- Feb 18, 2015 1:32am Feb 18, 2015 1:32am
Delta i guess your TP +200 got hit today 
.Enjoy the green trade .I had a long there also but i closed it yesterday cant hold my emotions to hold it overnight.Whent long today on Londons opening also and TP just got hit +50.Have a nice day everyone.On my way to work.
Alone
.Enjoy the green trade .I had a long there also but i closed it yesterday cant hold my emotions to hold it overnight.Whent long today on Londons opening also and TP just got hit +50.Have a nice day everyone.On my way to work.Alone
- #5,406
- Feb 18, 2015 1:50am Feb 18, 2015 1:50am
- Joined Oct 2010 | Status: Trader | 5,442 Posts
A few things to point out about this - firstly, you have to determine which way momentum is lying. For me, as I posted prior to the open, it was up. With the price already rising from the German open, a pullback has to be anticipated around the London open, for the logical reason that traders will want to get in at a safe level. As German open profits are taken, and as no new longs are forthcoming, the price usually falls sharply back to a level where traders will be able to enter their positions. Many retail traders do not see this as an opportunity because they are put off by the sharp ' fake ' at the open, but this is exactly when you should be ready to take the trade in the opposite direction. You'll see on the chart that the price stalls just below the 200ema ( thick yellow). It then puts in a single positive hammer - 1st entry opportunity. This is then followed by another one with a higher lower wick - 2nd entry opportunity. We then have a sort of negative doji, but again with a higher lower wick - 3rd entry opportunity. We then have a fourth candle which again puts in a higher lower wick with a lovely long positive body - 4th opportunity. Now, If you've not already entered, it's not too late, but it's starting to slip away from you, but if you are still sitting biting your lip and tapping your desk, you do have another opportunity to get into the trade when it comes back to the 100sma.
If you were sitting watching this, doing nothing then go give yourself a good slap because there were multiple opportunities to get in. I'm only joking, it's never so easy in the heat of the moment, but this scenario repeats itself with great frequency at the London open. Hope this helps a few people.Till tomorrow
If you were sitting watching this, doing nothing then go give yourself a good slap because there were multiple opportunities to get in
. I'm only joking, it's never so easy in the heat of the moment, but this scenario repeats itself with great frequency at the London open. Hope this helps a few people.Till tomorrow 
- #5,407
- Feb 18, 2015 2:21am Feb 18, 2015 2:21am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
@ Cat......excellent post
I have nothing to add.......I have posted the way that I personally use levels, MAs and volumes many times
I have nothing to add.......I have posted the way that I personally use levels, MAs and volumes many times
Trading Levels with WRBs
- #5,409
- Feb 18, 2015 2:28am Feb 18, 2015 2:28am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #5,411
- Feb 18, 2015 2:46am Feb 18, 2015 2:46am
A few things to point out about this - firstly, you have to determine which way momentum is lying. For me, as I posted prior to the open, it was up. With the price already rising from the German open, a pullback has to be anticipated around the London open, for the logical reason that traders will want to get in at a safe level. As German open profits are taken, and as no new longs are forthcoming, the price usually falls sharply back to a level where traders will be able to enter their positions. Many retail traders do not see this as an opportunity...
- #5,412
- Feb 18, 2015 2:51am Feb 18, 2015 2:51am
@ Cat......excellent post
can I ask, what is FO and what is XO?
- #5,413
- Feb 18, 2015 3:42am Feb 18, 2015 3:42am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} thanks Islander, very good trades
Thanks
FO is Frankfurt Open = 7am GMT and LO is London Open = 8am GMT. These are both used in the Forex markets to remind traders when the main trading - Banks, Funds etc - start.
In the Dax, many MT4 platforms open again at 7am GMT, but the main (cash) Xetra Market opens in Frankfurt at 8am GMT. Look at the volumes on a 1m chart and you will notice the increase at 8am GMT
PS You might like this pic - its what's part of the project I mentioned earlier
Trading Levels with WRBs
- #5,414
- Edited 10:43am Feb 18, 2015 5:54am | Edited 10:43am
- Joined Mar 2014 | Status: swimming with floaters and snorkels | 1,157 Posts
- #5,416
- Feb 18, 2015 6:24am Feb 18, 2015 6:24am
...& execute one more DAX Short @ 10'943 (for several days or so)., without any SL. (10-K-Real-Account, 1 pip = 10.-$) Let's see a couple of days later here. Expected Drawdown: max. -50% Expected Profit: +20% - +50% FXcube
Yes, we could see some action to the south.
"A handful of patience is worth more than a bushel of brains"
- #5,417
- Feb 18, 2015 6:29am Feb 18, 2015 6:29am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
{quote} Hello FxCube, it has been a long time... loading shorts?
Best wishes from Switzerland!
FXcube
- #5,420
- Feb 18, 2015 6:43am Feb 18, 2015 6:43am
- | Joined Jan 2015 | Status: Zaedno pravi sila. Cosmos e za nas. | 1,932 Posts
