moved SL to b/e plus some on the AUDUSD
When Price is UP, buy; when Price is Down, sell short...
- #163
- May 13, 2015 12:44am May 13, 2015 12:44am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Hi Sunshine and all, just to let you know I am here and do understand all that you have said and to thank you on behalf of all those who I'm sure are getting some benefit from your posts I know how hard it can be keeping up with posts while trading at the same time Nice Job
i am very happy that you understand my method, make it yours...how ? ...u may add ONE twist or ONE indicator to it that will enhance your understanding and/or signal perception and increase your confidence, OR...u may leave it as is...take your pick.
Please do not add more than ONE otherwise u will quickly find yourself on the road to cluttering up your charts and with that comes cluttering up your trading perception.
Thank you for your kind words, much appreciated.
- #164
- May 13, 2015 12:50am May 13, 2015 12:50am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Hi traders,
i wish to draw attention to the EURGBP pair, which way would u trade and why ?
when trading off the;
...the Daily, or
...the 4hrs, or
...intraday ?
i wish to draw attention to the EURGBP pair, which way would u trade and why ?
when trading off the;
...the Daily, or
...the 4hrs, or
...intraday ?
- #168
- May 13, 2015 1:42am May 13, 2015 1:42am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
{quote} I would suggest on the long side.
, u forgot to mention the time frame but i take u know...so here we go...as unreal as it seems, the Weekly TREND INDICATOR tf is still in Buy Mode...why ? bcz the LSH is still intact AND no new LSL is invalidated yet.
now we please refer to the Signal Generating tf... the 4hrs.
- on the chart below, the green x indicate probes are in order,
- the purple LSH indicates a close above it confirm intraday buys,
- or u can enter now and put your SL below the lowest 4hr bar.
- please read the chart below....ofcourse price may turn around, but it doesn't matter that much if we followed our method....losses are an integral part of winning.
PS: Daily still in Sell Mode.
- #169
- May 13, 2015 1:58am May 13, 2015 1:58am
{quote} correct and thks for your response...
- #170
- May 13, 2015 2:04am May 13, 2015 2:04am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
{quote} Thanks for the summary sunshine.
- #171
- May 13, 2015 2:31am May 13, 2015 2:31am
{quote} correct and thks for your response...
- #173
- May 13, 2015 4:23am May 13, 2015 4:23am
{quote} at the moment deep retracement or resumption of downtrend in place, i don't know which...but don't panic, keep your SL and watch the effect of the LO..may change hopefully. the present hourly will definitely close red, so the next hourly bar will either reverse or take out your SL should it reverse then ride all the Green hourly Up bars and exit at the 1st Reversal bar OR ride the Green 4hr up bars and exit similarly, or preferred::: raise SL to b/e on one trade and take profit on the other. do the same if u [prefer to ride the 1hr bars....
- #175
- May 14, 2015 12:34am May 14, 2015 12:34am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
{quote} Just to report back I lost that one
unfortunately u got stopped out before price reversed and proceeded in your original trade direction, so u were correct in your trading assessment and direction but just a bit early. i want to further your understanding so please read below and study the 30mins chart of the one u got stopped out.
if u can remember somewhere in my previous posts i mentioned that my way of trading is "timeless", by that i meant ....we can apply this method and strategy to any timeframe, just scale down accordingly, i will show u in a minute. (As it happened on the 30mins another buy strategy unfolded, this strategy i call...the Distress Flare Setup).
Anyway, at the end of that 30mins rundown a very strong bullish bar formed. this +brb was a very strong up bar that obliterated 3 prior down bars {very strong buy signal}...this is our signal to sent in our 1st probe.
this strong Wide Range Bar [wrb] was then followed by two small red bars...now these 3 bars formed a new Swing High. which was followed by another +brb that closed above its LSH thereby permitting regular lot sizes to buy.
what i'm trying to do here is to illustrate the robustness of the method i have outlined so far.
So did u get it ? the 4hrs can either be one of 3:
- the Trend Signal Generating Chart, [SGC]
- a chart that can be traded on its own without reference to higher or lower tf's,
- or it can the Trend Indicator Timeframe...when we want to trade intraday. in this case the 30mins become the SGC.
if anything is unclear then please let me know.
on the charts u will notice, the LO & NYO as well as the 4hr LSH...all labelled in their respective line colours. the reason i have included those Open times is because gopips mentioned in his earlier post the importance of trading above or below that open times...but that issue i will address in his post.
- #177
- Edited 8:55am May 14, 2015 1:05am | Edited 8:55am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Hi Sunshine and all, just to let you know I am here and do understand all that you have said and to thank you on behalf of all those who I'm sure are getting some benefit from your posts I know how hard it can be keeping up with posts while trading at the same time Nice Job
what happened was...
...i was waiting for a possible retrace to 7930 area and as such drew a line on the chart to alert me as price approached,
...i looked at the hourly tf and and saw the trade setting up with several red bars coming down,
...so to remind me next time i come back to that chart and tf, i inserted a yellow X below price,
...the colour and position of the yellow will inform that i am waiting for a +brb,
...once that +brb formed i will enter same time with a stop below the low of signal bar or the prior bar or 30 pips.
...but i forgot and missed the trade.
will try and post chart later.
ok back after long absence today, i apologise.
EDIT: i did mentioned this pair earlier in the day ...see post 165 above. Also forgot about the Gold entry...all my fault.
anyway here is the Trade Signal Generating Chart, the hourly.
my platform has a 180 pip up movement for this pair for yesterday, but if u entered after the +brb formed, indicated by the yellow X, we would have banked 120 pips without the spread.
Hi Sunshine
it looks like you are not in sync with the correct market times
here is a example of what I think are the correct times in relation
to my chart and perhaps your chart also. this pictue is at same time
as your last post
to help confirm your on the right time with open of any market
such as NY you can look at ForexFactory and your chart at
same time
it looks like you are not in sync with the correct market times
here is a example of what I think are the correct times in relation
to my chart and perhaps your chart also. this pictue is at same time
as your last post
to help confirm your on the right time with open of any market
such as NY you can look at ForexFactory and your chart at
same time
- #180
- May 17, 2015 2:19am May 17, 2015 2:19am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
I just want to show how important the Monthly,Weekly and daily Open is in relation to your trading decision making. a good rule is if price is below open you sell or above you buy {image}
Thank you for your reminder and excellent observation. but i'm upset with u for revealing the Key to Trading Success, just joking about being upset...but not joking about the Key... i named this Strategy...HOLO, think HALO...HOLY as in Holy grail
- H= High
- O=Open
- L=Low
- O=Open
Now apply that specific price levels to selected charts and tf's such as the Monthly & Weekly and u will see that one can dispense with the much vaunted and celebrated "Price Action" altogether, including all the other chart cluttering mathematically derived indicators, and i literally mean ALL of them.
What am i saying ? i am saying to trade and invest successfully, only these 4 price levels are needed actually, depending which direction one trades, only two of these levels are needed. You probably already know this so before u reply, just do a little tafakkur, ponder, reflect and thinking on what i have just said....let it sink it or let it rise to the surface...both is correct.
once again, thank you so much for your participation on this thread.