Medici,
Charts of 2b pattern with added trendline.
Short:
Long:
Charts of 2b pattern with added trendline.
Short:
Attached Image
Long:
Attached Image
Highest Open / Lowest Open Trade 17,834 replies
As complicated as necessary: Highest Open / Lowest Open Trade 860 replies
Getting a handle to open trades in the open trade tab 3 replies
EA to open trade on Next Candle open (help please) 4 replies
Medici trades the London open 435 replies
DislikedMedici, thanks for sharing how you trade 2B's. Apart from round numbers and 50% fib zones the only other tool I add for levels is the days value area and look at how price reacts around this level for entries and closing of positions. Here's a perfect setup I just took and closed on the DAX Price rallies back up to POC or Value Area marked as Pink dotted line 12378.5 on a very high volume wide range up bar. Price pulls back the retests, forming a 2B pattern. Which also coincides with a divergence of the MACD. 1st entry was on the 2nd red bar after...Ignored
DislikedMorning Cap'n Well done I've done a third of my daily quota in this slo-mo, which is better than expected. I relate it to good hard spinning class and sauna last night. Physical fitness keeps me alert and focused.Ignored
Disliked{quote} GM M - thanks and agreed its a slow one this sunny morn. Whilst it did make a new high, that was at today's MR2 in a 1m tweezers. Later I sold the LH that followed and took another 20 around the day's open. I'm short again off the DP and I'm thinking that fast break up on Friday around the 12,250 area makes a nice target - assuming the BRN is broken - its also the .382 retrace. What do you think?Ignored
Disliked{quote} Good thinking Experience makes a difference I took the break below 12325, which was a "macro" 2B for me Pivots and other fibs than 50% no longer figure in my setup.Ignored
Disliked{quote} The Macro 2b setup using the central pivot (or the 50% retrace) as your predetermined resistance level Here's one i just closed, another 2b pattern, entries and exit on chart. Not such a good exit as price has dropped almost 40 points whilst typing this post {image}Ignored
DislikedG'day Cap'n Well done with the algo entries I prefer to place stop entries myself. I thought I should post some pointers for the benefit of our readers. I find market profile, or rather the ideas behind it, essential for udnerstanding the market, This article (with links) http://traderfeed.blogspot.co.uk/201...ective-on.html gives a good introduction to the practical use of market profile. Also, see the book "Markets in Profile" by Dalton, Dalton, and James.Ignored
Disliked{quote} Thanks M - good to see your posts The good thing about the current MT4 is that EAs can be turned on / off via the upper toolbar making manual over-riding easy - essential during consolidations That, combined with the directional selection via the properties box brings additional flexibility to the use of this rather basic EA that I am testing. I'd like to try it on a Renko or tick chart but that's a problem in MT4 Best IslanderIgnored