Hi guys, new to forexfactory but I've heard about Phillip Nel from my friends who trade using his system. I need guidance on how to use this system. Thanks
- Post #28,822
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- Apr 7, 2015 7:41am Apr 7, 2015 7:41am
- Joined Sep 2006 | Status: Member | 7,532 Posts
- Post #28,823
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- Apr 7, 2015 10:59am Apr 7, 2015 10:59am
150407NZDCAD:
There is a new trade as well as a new comer for me. I don’t remember having ever traded this pair. But it seems to be interesting by the figures it makes.
There are a lot more to see on the weekly chart and daily chart, but the 4hrs chart is my focus.-As so many times, I sold it too soon! Triple top(RT/HS), divergence on the macd, target at .9200 or so, then .8700. Price broke the neckline (orange), making later another possible HS which price didn’t broke the green neckline yet, but will see…
I am not in a hurry on this one because of the weekly chart.
I’ll just let it go and see…
There is a new trade as well as a new comer for me. I don’t remember having ever traded this pair. But it seems to be interesting by the figures it makes.
There are a lot more to see on the weekly chart and daily chart, but the 4hrs chart is my focus.-As so many times, I sold it too soon! Triple top(RT/HS), divergence on the macd, target at .9200 or so, then .8700. Price broke the neckline (orange), making later another possible HS which price didn’t broke the green neckline yet, but will see…
I am not in a hurry on this one because of the weekly chart.
I’ll just let it go and see…
Yvon
- Post #28,824
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- Edited at 11:54am Apr 7, 2015 11:18am | Edited at 11:54am
here is something else, it is about the ATR that M. Nel mentioned earlier...
I make reference here at the chart just above:
By looking at the lower indicator, the ATR,( yes, that yellow ripple there) look at the value at the right end (with the setting at 1) you will see a number that represent an average value of candle range that I obtained by drawing an horizontal line which is about 82 pips. This is what is expected as the 4hrs candle there, having a possible range of 80 pips or so.-
if you look again at the ATR, on the left , there is a spike of about 140-150 pips there. So logically, maybe a spike of 140-150 pips could be coming soon. So maybe if there is a confirmation of a break here of that second neckline (green), we could possibly see a candle getting close to that range but will see!
46 pips done on that candle...
I make reference here at the chart just above:
By looking at the lower indicator, the ATR,( yes, that yellow ripple there) look at the value at the right end (with the setting at 1) you will see a number that represent an average value of candle range that I obtained by drawing an horizontal line which is about 82 pips. This is what is expected as the 4hrs candle there, having a possible range of 80 pips or so.-
if you look again at the ATR, on the left , there is a spike of about 140-150 pips there. So logically, maybe a spike of 140-150 pips could be coming soon. So maybe if there is a confirmation of a break here of that second neckline (green), we could possibly see a candle getting close to that range but will see!
46 pips done on that candle...
Yvon
- Post #28,825
- Quote
- Apr 7, 2015 11:50am Apr 7, 2015 11:50am
150407EURUSD
Round Top: double top on the 4hrs chart, divergence on the macd on the daily. Took the trade late. Price below the 89sma now…
Round Top: double top on the 4hrs chart, divergence on the macd on the daily. Took the trade late. Price below the 89sma now…
Yvon
- Post #28,827
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- Apr 9, 2015 11:09am Apr 9, 2015 11:09am
150407EURUSD Round Top: double top on the 4hrs chart, divergence on the macd on the daily. Took the trade late. Price below the 89sma now
The pair finally broke the neckline, hesitation for a little while and there is the strong candle that I see very often after a break. 1.0600 as a first target,then 1.0400 could be next...
Yvon
- Post #28,829
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- Apr 9, 2015 1:04pm Apr 9, 2015 1:04pm
Hi Yvon, Hey thanks for your reply. Yeah, I wish there were more happening in this forum. Is there a way to revive it? I took quite many pips too on Aussie and NZD related pairs. And then went away from Friday till Monday. Nice. Keeping post your trades if you can. It helps me a great deal. Nicholas
There is a matter of choice involved in this fluctuating situation I guess! Maybe some traders are not quite decided yet, while other are taking a break somehow, some are reading in here and not quite ready to write their view yet!
But that’s a beauty to read comments, reading some others view, it is constructive, for sure, at least for me. There will be always different views, perspectives, that when they come, just add freely to our own experiences, just to get us better as traders!
have a nice day Nic!
Yvon
- Post #28,830
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- Apr 9, 2015 1:12pm Apr 9, 2015 1:12pm
150407NZDCAD: There is a new trade as well as a new comer for me. I dont remember having ever traded this pair. But it seems to be interesting by the figures it makes. There are a lot more to see on the weekly chart and daily chart, but the 4hrs chart is my focus.-As so many times, I sold it too soon! Triple top(RT/HS), divergence on the macd, target at .9200 or so, then .8700. Price broke the neckline (orange), making later another possible HS which price didnt broke the green neckline yet, but will see I am not in a hurry on this one because of...
Yvon
- Post #28,831
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- Edited Apr 13, 2015 2:24am Apr 12, 2015 11:57pm | Edited Apr 13, 2015 2:24am
{quote} 150409:NZDCAD: well! Quite away from expected behaviours, but I still have the same view; I am sticking to it! Still short!
I took the opportunity to sell again at .9526 at the last RT.
About 75 pips secured already
partially closed at the 200sma: about 80 pips gain.
Yvon
- Post #28,832
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- Apr 13, 2015 12:39am Apr 13, 2015 12:39am
My first trade of the week, on a Monday morning. Have a lot of success with AUD and NZD related pairs for last 2-3- weeks. I wonder if this is real? I have ot had so much successful trades in a row. Is this real?
Anyway, posted AUDUSD trade below from this morning. Please give me your feedback:
Hope you understand my chart.
Anyway, posted AUDUSD trade below from this morning. Please give me your feedback:
Hope you understand my chart.
- Post #28,833
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- Apr 13, 2015 1:36am Apr 13, 2015 1:36am
My first trade of the week, on a Monday morning. Have a lot of success with AUD and NZD related pairs for last 2-3- weeks. I wonder if this is real? I have ot had so much successful trades in a row. Is this real? Anyway, posted AUDUSD trade below from this morning. Please give me your feedback: {image} Hope you understand my chart.
I do understand your chart.
my view
The AUDUSD HS is standing at the lower part of the consolidation. It didn’t break it yet ( as I wrote). Nice TC on the 4hrs chart as well as the daily, where I can see a HS there. If it breaks there, it could be about more than 300 pips to go(down), even going lower. A juicy trade there! Price could possibly go to .6120! But will see...
I believe that doubling accounts are not a dreaming state these days, so you are not dreaming!
Just from some EURUSD trades lately, it became certainly a reality for many traders.
with times , seeing "high probability trades" gets the traders involving more money on those kind of trades than usual.
resulting in higher returns ...it goes fast sometime...hummmm!
Yvon
- Post #28,834
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- Apr 13, 2015 7:03am Apr 13, 2015 7:03am
150407EURUSD Round Top: double top on the 4hrs chart, divergence on the macd on the daily. Took the trade late. Price below the 89sma now
Yvon
- Post #28,836
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- Apr 15, 2015 6:36am Apr 15, 2015 6:36am
- | Joined Nov 2013 | Status: Member | 49 Posts
- Post #28,837
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- Apr 15, 2015 6:40am Apr 15, 2015 6:40am
- | Joined Nov 2013 | Status: Member | 49 Posts
- Post #28,838
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- Apr 15, 2015 6:43am Apr 15, 2015 6:43am
- | Joined Nov 2013 | Status: Member | 49 Posts
