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Off Road System

  • #1,221
  • Apr 20, 2015 3:34am Apr 20, 2015 3:34am
Quoting isengoz
hi guys... I longed GBPUSD this morning. now that I pulled my stops to my daily target which is +40 pips, I will let them ride as far as I think they would go... {image}
Congratulations!

I'm stuck with EURUSD and EURJPY.

The GBPUSD I have not analyzed. But it seems that became a resistance.
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  • #1,222
  • Apr 20, 2015 3:49am Apr 20, 2015 3:49am
EURUSD M5

The first is a pending order, and second, price action. I do scalping and close in as projection of the wave of the same grade.
Attached Image (click to enlarge)
Click to Enlarge Name: eulo37.PNG Size: 86 KB
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  • #1,223
  • Apr 20, 2015 3:51am Apr 20, 2015 3:51am
Hello my friends,

This is my trade of the day. Just PA and a close target,

GBPJPY +12 pips

Attached Image (click to enlarge)
Click to Enlarge Name: 0420_GBPJPYM5.png Size: 104 KB



Keep on with the thread!!
TONI
  • #1,224
  • Apr 20, 2015 3:52am Apr 20, 2015 3:52am
EURJPY M5.
Scalped at 38% fibo, but probably quote the price to drop further (50%, 062%).
But my quota has been reached ... 37+16=53 pips
Attached Image (click to enlarge)
Click to Enlarge Name: ejm5lo16.PNG Size: 91 KB
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  • #1,225
  • Apr 20, 2015 3:55am Apr 20, 2015 3:55am
Quoting forexdaist
Hello my friends, This is my trade of the day. Just PA and a close target, GBPJPY +12 pips {image} Keep on with the thread!! TONI
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  • #1,226
  • Apr 20, 2015 4:00am Apr 20, 2015 4:00am
Quoting forexdaist
Hello my friends, This is my trade of the day. Just PA and a close target, GBPJPY +12 pips {image} Keep on with the thread!! TONI
GBPJPY

You have captured perfectly it would be a retracement, or u change in trend at that level. Notice how the price is introduced into bollinger bands, while RSI will diverge. The rest is draw a line and buy with the price action.
Very good trade, for my taste. Congratulations.
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  • #1,227
  • Apr 20, 2015 4:09am Apr 20, 2015 4:09am
Quoting Patron
{quote} Congratulations! I'm stuck with EURUSD and EURJPY. The GBPUSD I have not analyzed. But it seems that became a resistance.
I had to leave after I posted my chart. you were right patron, bears kept the daily pivot. I didn't like the PA on m1, by the way. there was a divergence with RSI at the first visit. for that reason I pulled my stops to +40.

by the way, if the price crosses 1.4920 on GU, we may see a further movement till 1.4870 at least...

as I accomplished my daily goal, see you all tomorrow...
  • #1,228
  • Apr 20, 2015 4:25am Apr 20, 2015 4:25am
Quoting forexdaist
Hello my friends, This is my trade of the day. Just PA and a close target, GBPJPY +12 pips {image} Keep on with the thread!! TONI
hi toni, congrats on your trade. just a few comments I have about your chart:
- I understand that you traded the breakout of a consolidation, however your stop was not at a reasonable place. the engulf level where you placed your stop is just the beginning of the latest demand zone (according to my criteria) and it is likely that this level would be visited before going further up. placing your stop below the latest low would be more reasonable in my opinion. however, in that case your R:R would suffer much. on the other hand, the price had made a new lower low, which means price was in a downtrend, and which makes your trade a countertrend.
- if I were you I would wait for the price go up and trade at the level where support turns into resistance. see my post #1190. by this way you could get much better R:R for your trade.

here is the chart you posted with some lines on it...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 676 KB


see you later...
  • #1,229
  • Apr 20, 2015 7:30am Apr 20, 2015 7:30am
Quoting isengoz
{quote} hi toni, congrats on your trade. just a few comments I have about your chart: - I understand that you traded the breakout of a consolidation, however your stop was not at a reasonable place. the engulf level where you placed your stop is just the beginning of the latest demand zone (according to my criteria) and it is likely that this level would be visited before going further up. placing your stop below the latest low would be more reasonable in my opinion. however, in that case your R:R would suffer much. on the other hand, the price...
hey toni, I just wanted to explain my previous post a bit more. you can see my bonus GBPUSD trades below. it's not the same setup with yours but a very close one. price went down breaking a support decisively (blue line) then retraced back. when it reached to previous support PA went through it without stopping. it was also a bit shallow retracement (38.2% fibo level) however, there was a supply level above confluencing with 50%, yellow MA and upper bollinger band. then divergence occurred with RSI. second top was a better level by the way. the risk:reward was about 1:4. (I'm talking only for the first trade, by the way)

M1 GBPUSD +68 pips

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 150 KB


as we all know market repeats itself and as intraday traders all we need is just one solid setup. from my experience I know that this setup consistently works well. if you study charts and trade this properly it would have positive effect on your balance, I assure you.
  • #1,230
  • Apr 20, 2015 9:00am Apr 20, 2015 9:00am
Quoting isengoz
{quote} hey toni, I just wanted to explain my previous post a bit more. you can see my bonus GBPUSD trades below. it's not the same setup with yours but a very close one. price went down breaking a support decisively (blue line) then retraced back. when it reached to previous support PA went through it without stopping. it was also a bit shallow retracement (38.2% fibo level) however, there was a supply level above confluencing with 50%, yellow MA and upper bollinger band. then divergence occurred with RSI. second top was a better level by the way....


This is a gorgeous reading of price behavior, to intraday level.
I suggest readers to study and understand these events as isengoz understands.
It is a perfect example, you will not find in books.

Isengoz Chapeau! I tip my hat back to your understanding of the intraday movements (M1) and the simplicity and elegance with which they transmit, free, to the thread.

I thank you on my behalf and on behalf of readers, we can enjoy these jewels, which never find anywhere else.
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  • #1,231
  • Apr 20, 2015 11:58am Apr 20, 2015 11:58am
Hi guys, I read all about this strategy and everything seems so simple! But when i start to trade, it seems so impossible for me (
  • #1,232
  • Edited 2:48pm Apr 20, 2015 2:33pm | Edited 2:48pm
Quoting maxtill
Hi guys, I read all about this strategy and everything seems so simple! But when i start to trade, it seems so impossible for me (
Hello maxtil. Know that this system requires knowledge of the nature of the market (fractal) of wave analysis (generalized) of Chartism, Price Action, and general Technical Analysis as well as the influence of the sessions (liquidity), news (volatility) and interrelations between currency pairs.

All these issues are readily available through the internet.

All these skills have tried to place them in a simple template that facilitates visual assessment of market conditions at a given fractal level.
This template would give us signals so we searched through all the aforementioned tools, settings and setups high probability of success, according fractal.

All this is easier than it seems, if we do our homework on all the tools you can use in the analysis.
Without forgetting the monetary management.

The purpose of this thread is precisely to share these methods in order as simple as possible. In the thread you'll find daily good examples to follow, which, I am sure, gradually you will go illuminating.
Likewise, the purpose of this thread is mutual motivation in solving all the problems that provides market and share.
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  • #1,233
  • Apr 20, 2015 2:47pm Apr 20, 2015 2:47pm
Quoting Patron
{quote} Hello maxtil. Know that this system requires knowledge of the nature of the market (fractal) ofwave analysis (generalized) of Chartism, Price Action, and general Technical Analysis as well as the influence of the sessions (liquidity), news (volatility) and interrelations between currency pairs. All these issues are readily available through the internet. All these skills have tried to place them in a simple template that facilitates visual assessment of market conditions at a given fractal level. This template would give us signals so we...
Anyway, maxtill, do not deprive yourself of more specific questions, for the part that touches me, I will try to answer all with maximum clarity within my experience.
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  • #1,234
  • Apr 20, 2015 3:49pm Apr 20, 2015 3:49pm
Good evening,

In the Dynamic Scalp System thread, Patron taught me that EMA233 can often be a key price level.

In the trade idea from yesterday, I offer an illustration of EMA233 behaviour.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 81 KB
  • #1,235
  • Apr 20, 2015 4:15pm Apr 20, 2015 4:15pm
Quoting isengoz
{quote} hey toni, I just wanted to explain my previous post a bit more. you can see my bonus GBPUSD trades below. it's not the same setup with yours but a very close one. price went down breaking a support decisively (blue line) then retraced back. when it reached to previous support PA went through it without stopping. it was also a bit shallow retracement (38.2% fibo level) however, there was a supply level above confluencing with 50%, yellow MA and upper bollinger band. then divergence occurred with RSI. second top was a better level by the way....
You are very kind and I want to thank you ofr this great lesson. I hope I can read the market so clear as you do. I'll keep it trying....


thanks
toni
  • #1,236
  • Edited 1:36am Apr 21, 2015 1:22am | Edited 1:36am
Morning!

USDCAD M5-H1
Long closed.

Over the past Asian session, there was a moment I opened my charts and realized that USDCAD (H1), had a high probability of correct up to 38% fibo.
I went down to USDCAD (M5) and other timeframes, and everything pointed to the price would rise.

I opened a long trade, to a market condition lateral-bullish (M5), and went to sleep.
Now, before the session in Frankfurt, I found the price to a resistance, and have decided to close.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ucm5.PNG Size: 77 KB
Click to Enlarge Name: uch1.PNG Size: 75 KB
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  • #1,237
  • Apr 21, 2015 1:45am Apr 21, 2015 1:45am
GBPUSD H1

... is receding within a wedge, or within a flag. It has already traveled the 38% fibo.
Attached Image (click to enlarge)
Click to Enlarge Name: gucunabanderh1retro.PNG Size: 81 KB
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  • #1,238
  • Apr 21, 2015 2:12am Apr 21, 2015 2:12am
Quoting greenline
Good evening, In the Dynamic Scalp System thread, Patron taught me that EMA233 can often be a key price level. In the trade idea from yesterday, I offer an illustration of EMA233 behaviour.{image}
It is true that, for me, the 233 EMA plays a big role in my trading for any timeframe. Both incline and closeness-distance of the price it offers a simple glance, much information about the condition of the market at a certain level. Any manual backtesting demonstrates this fact.
In the chart you offered us yesterday is clearly seen as the price will change direction around the EMA233 until price action leaves no doubt.
Attached Image (click to enlarge)
Click to Enlarge Name: greenlineema233.PNG Size: 106 KB
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  • #1,239
  • Apr 21, 2015 2:25am Apr 21, 2015 2:25am
EURUSD H1

This pair is receding more than technically expected. Perhaps it is not surprising given the lack of agreement between Greece and the European Union on its debt.
Attached Image (click to enlarge)
Click to Enlarge Name: euh1retrogrecia.PNG Size: 100 KB
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  • #1,240
  • Apr 21, 2015 6:56am Apr 21, 2015 6:56am
EURUSD M5-H1

Scalping within a banner or a wedge, using M1 and M5 Price Action, before the beginning of the American session.

...and quota filled 35+18= 53 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euM518.PNG Size: 79 KB
Click to Enlarge Name: euh118.PNG Size: 94 KB
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