Islander and Medici trade the European open | Page 259 | Forex Factory

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Islander and Medici trade the European open

  • #5,161
  • Mar 24, 2015 3:54am Mar 24, 2015 3:54am
Regulars here that have follwed my posts for some time will not be surprised by the timing of this morning's moves

PS There is now a LH which I didn't sell as I'm taking a break for more coffee, leaving my buy limit and stop orders open...
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #5,162
  • Mar 24, 2015 4:12am Mar 24, 2015 4:12am
An interesting 15m chart too...nice hits on the 50% levels
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Click to Enlarge Name: mar24 d 15m 0910.png Size: 38 KB
Trading Levels with WRBs
  • #5,163
  • Edited 4:50am Mar 24, 2015 4:19am | Edited 4:50am
@ Medici - welcome back as ever, your posts provide golden nuggets of information and I see that you too have given up on the distractions of trying to post in RT....
Trading Levels with WRBs
  • #5,164
  • Mar 24, 2015 4:28am Mar 24, 2015 4:28am
Quoting Islander
An interesting 15m chart too...nice hits on the 50% levels {image}
Straight up into a bull trap in my view...
  • #5,165
  • Mar 24, 2015 4:32am Mar 24, 2015 4:32am
Quoting Islander
@ Medici - welcome back as every, your posts provide golden nuggets of information and I see that you too have given up on the distractions of trying to post in RT....
Thank you Always good with old friends. But, no, no real-time posting, and no efforts to be didactive...
  • #5,166
  • Mar 24, 2015 4:45am Mar 24, 2015 4:45am
Quoting medici
{quote} Straight up into a bull trap in my view...
Interesting.....I see a hit on the 50% retrace of the last fall and then a pull back to the top of that long consolidation yesterday that has that large PVP at its lower edge. For me, its too early to say if that was accumulation or distribution.

Either way, I've banked very good ticks this morning, with a few more from my last limit order, so time for a break....
Trading Levels with WRBs
  • #5,167
  • Mar 24, 2015 4:50am Mar 24, 2015 4:50am
Quoting Islander
{quote} Interesting.....I see a hit on the 50% retrace of the last fall and then a pull back to the top off that long consolidation yesterday that has that large PVP at its lower edge. For me, its too early to say if that was accumulation or distribution. Either way, I've banked very good ticks this morning, with a few more from my limit order, so time for a break....
I don't make judgement calls....they're always wrong I follow my system, which says that unless 11950 breaks then it's downhill from here (which I posted on D1's thread yesterday). Build your MP from 13 Oct onward, and see what you think.
  • #5,168
  • Mar 24, 2015 4:56am Mar 24, 2015 4:56am
Quoting medici
{quote} I don't make judgement calls....they're always wrong I follow my system, which says that unless 11950 breaks then it's downhill from here (which I posted on D1's thread yesterday). Build your MP from 13 Oct onward, and see what you think.
That should be March, not October...
  • #5,169
  • Mar 24, 2015 5:10am Mar 24, 2015 5:10am
Quoting medici
{quote} I don't make judgement calls....they're always wrong I follow my system, which says that unless 11950 breaks then it's downhill from here (which I posted on D1's thread yesterday). Build your MP from 13 Oct onward, and see what you think.
LOL - remember that you're preaching to the converted DPS is the only way to go...Discipline, Patience and a SYSTEM are the pre-requisites for Profitable Trading as we both know from hard won experience.
Trading Levels with WRBs
  • #5,170
  • Mar 24, 2015 5:31am Mar 24, 2015 5:31am
Quoting medici
{quote} Straight up into a bull trap in my view...
See what I'm saying? I hope you didn't have any stop entries above 11950.
  • #5,171
  • Mar 24, 2015 7:58am Mar 24, 2015 7:58am
Quoting medici
{quote} See what I'm saying? I hope you didn't have any stop entries above 11950.
Nice one - and no, I don't leave any entry orders pending when I go out. The fall from that fake-out high in bearish harami's on 1m, 5m & 15m charts was 70 pts in 34 mins down to yesterday's close, since then its retraced 50% of its fall.

Now to see what the US Session brings....unless the data is way out, probably more consolidation until after NYSE opens....TWT
Trading Levels with WRBs
  • #5,172
  • Edited 11:09am Mar 26, 2015 10:53am | Edited 11:09am
Quoting medici
Late Friday I was watching the level indicated by the Ichimoku cloud as depicted in the first chart. The Kumo cloud is excellent at picking out dynamic S/R levels. Fore more about that, see http://2ndskiesforex.com/trade-signa...ver-reversals/ For those familiar with the Market Profile, the reason for this property of the cloud is that it picks out the peaks and troughs of the MP. Very useful. Then we can compare the chart of the DAX index from ECB's announcement of QE to the chart of...
Very interesting comparison.
There is a fib confluence at 11079 level or thereabout, and I wander if that is not the case to be although it seems so far away atm.
From EW perspective I expect a final push up on DAX to much higher levels before a more robust retracement.
Thanks for your posting,
2be
Make sure losses are small and profits are bigger!
  • #5,173
  • Mar 27, 2015 4:13am Mar 27, 2015 4:13am
EA for manual entries - WIP....pts are gross for the swing

@2be - good to see you here

Edit: short at 11,884 in 09:12 bar, SL now +1
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Trading Levels with WRBs
  • #5,174
  • Mar 27, 2015 4:25am Mar 27, 2015 4:25am
Quoting Islander
EA for manual entries - WIP....pts are gross for the swing @2be - good to see you here Edit: short at 11,884 in 09:12 bar, SL now +1 {image}
Morning Captain,

Two short and two longs for me so far, from 11946.5, 11895, 11861, 11879. And because I was looking here, I missed the 9:22 short

Back to trading...

Happy hunting to all!
  • #5,175
  • Mar 27, 2015 4:28am Mar 27, 2015 4:28am
Quoting 2be
{quote} Very interesting comparison. There is a fib confluence at 11079 level or thereabout, and I wander if that is not the case to be although it seems so far away atm. From EW perspective I expect a final push up on DAX to much higher levels before a more robust retracement. Thanks for your posting, 2be
Welcome back, old friend

We live in interesting times... 11910 broken easily, so downside prevails...

I've stopped working with fibs. Not statistically significant, whereas Market Profile is.
  • #5,176
  • Mar 27, 2015 4:41am Mar 27, 2015 4:41am
Quoting medici
{quote} Welcome back, old friend We live in interesting times... 11910 broken easily, so downside prevails... I've stopped working with fibs. Not statistically significant, whereas Market Profile is.
GM M - its getting like old times - I wonder if Cody will appear!

Whilst I do have MP on some charts I'm far from certain that I use it correctly, despite help a year ago from Dr P when he was posting here. However, the simple algo is doing a reasonable job....
Trading Levels with WRBs
  • #5,177
  • Edited 7:23am Mar 27, 2015 5:20am | Edited 7:23am
Quoting Islander
{quote} GM M - its getting like old times - I wonder if Cody will appear! Whilst I do have MP on some charts I'm far from certain that I use it correctly, despite help a year ago from Dr P when he was posting here. However, the simple algo is doing a reasonable job....
GM everybody, good pips on dax this morning, both ways.
I find that the Genesis indi/EA does a good job on M1 together with my US close war zone and consolidation box (when it is in play)
I use the indi only as I use MT4 only for charting and trade with other platforms.
I am testing the MAcross EA too, too early to say if it suits me.
Good to see you are prospering today.
Happy trading to all,
2be
Make sure losses are small and profits are bigger!
  • #5,178
  • Mar 27, 2015 8:44am Mar 27, 2015 8:44am
Quoting medici
{quote} Welcome back, old friend We live in interesting times... 11910 broken easily, so downside prevails... I've stopped working with fibs. Not statistically significant, whereas Market Profile is.
Good to see you are doing well.
Have had few words with the Captain too.
Life is good here.
Looking forward to do some good trades.
Have a nice weekend,
Best wishes,
2be
Make sure losses are small and profits are bigger!
  • #5,179
  • Mar 27, 2015 10:12am Mar 27, 2015 10:12am
A bit tired, so finished the week with a long.

And here's a chart to summarise the week. Downtrend (red line) broken on Wednesday. The pattern of double LHs, waterfall sell-off, and strong rebound, is classic DAX behaviour.

Next week should be interesting. End of quarter flows, and the triangle (yellow lines) has to be broken. Currently the tendency is up, but the upper yellow line is resisting all visits so far.

Bon weekend à tous!
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  • #5,180
  • Mar 27, 2015 10:59am Mar 27, 2015 10:59am
Quoting medici
A bit tired, so finished the week with a long. And here's a chart to summarise the week. Downtrend (red line) broken on Wednesday. The pattern of double LHs, waterfall sell-off, and strong rebound, is classic DAX behaviour. Next week should be interesting. End of quarter flows, and the triangle (yellow lines) has to be broken. Currently the tendency is up, but the upper yellow line is resisting all visits so far. Bon weekend tous! {image}

Let's hope we get a couple more days like this before Easter....I'm just closing my last trade - a sell from the open level for ~30 pts and heading for a cold San Miguel

Egualmente a ti y a todos...
Trading Levels with WRBs
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