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EURUSD - Financial Instrument Analyzer

  • #21
  • May 11, 2015 5:52am May 11, 2015 5:52am
Quoting jackeollio
{quote} What I will demonstrate this week is that trading with the FIA (Financial Instrument Analyzer) offers low risk, high reward trade setups.
damn almost +20
  • #22
  • May 11, 2015 5:53am May 11, 2015 5:53am
Quoting airmac
{quote} damn almost +20
Hang in there!
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #23
  • Edited 6:27am May 11, 2015 6:16am | Edited 6:27am
Chart #3 Post #12 above is an intraday chart http://www.forexfactory.com/attachme...6&d=1431350127

On the 2 Hour, the application indicates "Establish High" which means we are in a Long market above the Long level @1.11565 with Next Target High being the Short level @1.11598.

While the market remains above the Long level @1.11565, the application will indicate "Establish High". If the market returns below the Long level, the market will be Short and the application will indicate "High".

Despite the configuration on the 2 Hour timeframe, we choose not to enter Long.

On the 4 Hour, the market is in the Bearish Consolidation zone between the Short level @1.11741 and the Long level @1.11524. There is no direction on this timeframe. Therefore, there is no trade setup here.

On the 8 Hour, the market is Bearish (not Short) below the Long level @1.11712 towards the Demand level @1.11222. There is no direction on this timeframe. Therefore, there is no trade setup.

On the Day, the market is Bullish (not Long) above the Short level @1.11472 towards the Supply @1.12271. There is no direction on this timeframe. Therefore, there is no trade setup.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #24
  • May 11, 2015 6:28am May 11, 2015 6:28am
Quoting jackeollio
Chart #3 Post #12 above is an intraday chart http://www.forexfactory.com/attachme...6&d=1431350127 On the 2 Hour, the application indicates "Establish High" which means we are in a Long market above the Long level @1.11565 with Next Target High being the Short level @1.11598. While the market remains above the Long level @1.11565, the application will indicate "Establish High". If the market returns below the Long level, the market will be Short and the application will indicate "High". Despite the configuration...
previous short on H2 still valid?
  • #25
  • May 11, 2015 6:30am May 11, 2015 6:30am
Quoting airmac
{quote} previous short on H2 still valid?
Of course, if you are still in, stay in!

The 4 Hour has returned Bearish (not Short) towards Demand @1.11121 (see Chart #4 Post #12 above).
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #26
  • May 11, 2015 6:40am May 11, 2015 6:40am
Sorry, I had posted my new charts in the wrong Post.

Had to do a little clean-up here.

I am now ready to continue.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #27
  • May 11, 2015 6:40am May 11, 2015 6:40am
Chart #4 Post #12 above is an intraday chart http://www.forexfactory.com/attachme...3&d=1431351470
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #28
  • Edited 6:54am May 11, 2015 6:41am | Edited 6:54am
Chart #5 Post #12 above is an intraday chart http://www.forexfactory.com/attachme...4&d=1431351484

On the 2 Hour, the market is now Long above the Long level @1.11565 with a Retracement level @1.11596.

We have a trade setup on the 2 Hour which reads as follows:

(1) Long entry between the Retracement level @1.11596 and the Long level @1.11565,

(2) Stop Loss we have 2 options (i) slightly below the Long level @1.11565 or (ii) slightly below the candlestick Low @1.11338. Option (ii) is preferred,

(3) Take Profit is at or near the Short level on the 4 Hour @1.11741.

Assuming a Long entry @1.11596 with a Stop Loss @1.11338 and Take Profit @1.11741 your RRR is approx. 1.5:1 (Reward 1.5 times Risk).

Caution: we expect the market to reverse Short at or near the Short level @1.11741 on the 4 Hour timeframe.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #29
  • May 11, 2015 6:47am May 11, 2015 6:47am
Quoting jackeollio
Chart #5 Post #12 above is an intraday chart http://www.forexfactory.com/attachme...4&d=1431351484
I am out on BE last trade. I think we missed long entry this time, it happened fast.

Long 1.11596, staples below 1.1156xx. target close to 1.11850 level or actually a short level on H4 which is already reached.
  • #30
  • May 11, 2015 6:53am May 11, 2015 6:53am
Quoting airmac
{quote} I am out on BE last trade. I think we missed long entry this time, it happened fast. Long 1.11596, staples below 1.1156xx. target close to 1.11850 level or actually a short level on H4 which is already reached.
Good point.

As for going Long, please read my note of Caution in Post #28 above.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #31
  • May 11, 2015 6:57am May 11, 2015 6:57am
Quoting jackeollio
{quote} Good point. As for going Long, please read my note of Caution in Post #28 above.

"Caution: we expect the market to reverse Short at or near the Short level @1.11741 on the 4 Hour."

and that is also around H8 supply level too. Strong level.
  • #32
  • May 11, 2015 6:57am May 11, 2015 6:57am
Quoting airmac
{quote} "Caution: we expect the market to reverse Short at or near the Short level @1.11741 on the 4 Hour." and that is also around H8 supply level too. Strong level.
That's correct!
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #33
  • May 11, 2015 7:21am May 11, 2015 7:21am
Chart #6 Post #12 above is an intraday chart http://www.forexfactory.com/attachme...7&d=1431354037

On the 2 Hour, the market is Short below 1.11550 with a Retracement level @1.11499.

We have a trade setup on the 2 Hour which reads as follows:

(1) Long entry between the Short level @1.11550 and the Long level @1.11499,

(2) Stop Loss we have 2 options (i) slightly above the Short level @1.11550 or (ii) slightly above the candlestick High @1.11686,

(3) Take Profit target is the Demand level @1.11121 on the 4 Hour timeframe.

Assuming a Short entry @1.11499 with a Stop Loss @1.11686 and Take Profit @1.11121 your RRR is approx. 2:1 (Reward 2 times Risk).
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #34
  • May 11, 2015 7:26am May 11, 2015 7:26am
Quoting jackeollio
Chart #6 Post #12 above is an intraday chart http://www.forexfactory.com/attachme...7&d=1431354037 On the 2 Hour, the market is Short below 1.11550 with a Retracement level @1.11499. We have a trade setup on the 2 Hour which reads as follows: (1) Long entry between the Short level @1.11550 and the Long level @1.11499, (2) Stop Loss we have 2 options (i) slightly above the Short level @1.11550 or (ii) slightly above the candlestick High @1.11686, (3) Take Profit target is the Demand level @1.11121 on the 4 Hour timeframe....
(1) Long entry between the Short level @1.11550 and the Long level @1.11499,

Short entry right?
  • #35
  • May 11, 2015 7:29am May 11, 2015 7:29am
Quoting airmac
{quote} (1) Long entry between the Short level @1.11550 and the Long level @1.11499, Short entry right?

Yes, see my Post #33 above.

Before you enter the market, don't forget to always consider your RRR which in this case is 2:1 (Reward 2 times Risk).
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #36
  • May 11, 2015 7:31am May 11, 2015 7:31am
This morning you will note that RRR on either Long or Short trades has been rather low and unattractive!
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #37
  • May 11, 2015 7:44am May 11, 2015 7:44am
Quoting jackeollio
This morning you will note that RRR on either Long or Short trades has been rather low and unattractive!

Jack, you ever take both sides of a trade?
  • #38
  • May 11, 2015 7:59am May 11, 2015 7:59am
Quoting airmac
{quote} Jack, you ever take both sides of a trade?
That's actually a very clever question.

My answer to that question is "No".

Although you could easily take advantage of the sensitivity of the FIA and it's unique ability to detect market reversals, I personally have not developed or used a strategy to work both the Long and Short side of the market.

It is obviously possible to develop a successful strategy to work both sides of the market but I personally prefer to be more selective before I consider entering the market.

By "more selective" I am more specifically referring to the RRR. As a "capital rule", I enter the market ONLY on high reward low risk opportunities considering nothing below 5:1 (Reward 5 times Risk) or 10:1 (Reward 10 times Risk) and everything and anything higher.

Practically speaking, this means that this morning I would have only considered the first Short trade setup choosing to ignore everything else.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #39
  • Edited 11:56am May 11, 2015 10:47am | Edited 11:56am
Chart #7 Post #12 above is an intraday chart http://www.forexfactory.com/attachme...9&d=1431366384

On the 2 Hour, the market is Long above 1.11552 with a Retracement level @1.11564.

We have a trade setup on the 2 Hour timeframe which reads as follows (careful I was late posting this one, we have a new candle in less than 10 min on this timeframe):

(1) Long entry between the Long level @1.11552 and the Retracement level @1.11564 (i.e. Short level),

(2) Stop Loss we have 2 options (i) slightly below the Long level @1.11552 or (ii) slightly below the candlestick Low @1.11317. Option (ii) is preferred,

(3) Take Profit is at or near the Long level @1.11781 on the Day timeframe.

Assuming a Long entry @1.11564 with a Stop Loss @1.11317 and a Take Profit @1.11781 your RRR is approx. 1:1.

On the 4 Hour, the market is Long above 1.11548 with a Retracement level @1.11579.

We have a trade setup on the 4 Hour timeframe which reads as follow:

(1) Long entry between the Long level @1.11548 with a Retracement level @1.11579,

(2) Stop Loss we have 2 options (i) slightly below the Long level @1.11548 or (ii) slightly below the candlestick Low @1.11317,

(3) Take Profit at or near the Long level @1.11781 on the Day.

Assuming a Long entry @1.11579 with a Stop Loss @1.11317 and a Take Profit @1.11781 your RRR is approx. 1:1.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #40
  • May 11, 2015 2:32pm May 11, 2015 2:32pm
Chart #8 Post #12 above is an intraday chart http://www.forexfactory.com/attachme...7&d=1431379864

There is no market direction on any of the timeframes. Therefore, there are no trade setups for the moment.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
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