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Mr. Scott's Crayon Thread

  • #21
  • May 19, 2015 1:01pm May 19, 2015 1:01pm
Quoting Davit
Great Thread Scott I have build some shorts on UJ Nice harmonic on h4 For reference UJ has been confined to about 230 pips range and I believe she will break north of this only if Feds state concretely about IR hike. In my opinion it won't happen in 2015.So aiming for 119 {image} {image}
Thanks Davit, I posted something similar above. No trade for me yet, I wish you success.

Ok really off now. Been a long day already.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #22
  • May 19, 2015 1:11pm May 19, 2015 1:11pm
Quoting Hickson
{quote} Some daily chart confusion on this one ... don't know if it's good ... {image}
Hi Hickson.
Everyone has their methods but to me and many others things should be kept simple.In uptrend TL is measured from bottom and all lines above are irrelevant.
On Price Action they are clear higher highs and long wicks suggesting strong rejection on downside.
Regards
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 23 KB
In trading, you have to be defensive and aggressive at the same time
  • #23
  • May 19, 2015 1:13pm May 19, 2015 1:13pm
Quoting Davit
{quote} Hi Hickson. Everyone has their methods but to me and many others things should be kept simple.In uptrend TL is measured from bottom and all lines above are irrelevant. On Price Action they are clear higher highs and long wicks suggesting strong rejection on downside. Regards {image}
Hi Davit, lines were drawn before current lows. But I agree, too many lines are not good. I rather doubt the value of TLs altogether.
Fix up, trade sharp ...
  • #24
  • May 19, 2015 1:16pm May 19, 2015 1:16pm
Quoting Hickson
{quote} Hi Davit, lines were drawn before current lows. But I agree, too many lines are not good. I rather doubt the value of TLs altogether.
If you look at weekly chart you'll see EG has bottomed out and slowly moving up and upside has tremendous potential.
same chart weekly
To me bottom side has little risk compare to potential massive gains on Bull side.Its just trading place your SL say 70 and leave it alone.
I am not suggesting to take the trade only that its a great set up worth taking.(I guess I am suggesting it anyway lol)
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPWeekly.png Size: 22 KB
In trading, you have to be defensive and aggressive at the same time
  • #25
  • May 19, 2015 1:19pm May 19, 2015 1:19pm
Hey Hey Hey ,,whats going on here then
  • #26
  • May 19, 2015 1:22pm May 19, 2015 1:22pm
Quoting Davit
{quote} If you look at weekly chart you'll see EG has bottomed out and slowly moving up and upside has tremendous potential. same chart weekly To me bottom side has little risk compare to potential massive gains on Bull side.Its just trading place your SL say 70 and leave it alone. I am not suggesting to take the trade only that its a great set up worth taking. {image}
Ok I lied, relevant chart.

I love this chart, lots of confluence, really gone now.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPMonthly519.jpg Size: 330 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #27
  • May 19, 2015 1:24pm May 19, 2015 1:24pm
Waiting to L EG myself, but have to see FOMC first. EU has been relentless. May L both on a spike down depending what FOMC says.
  • #28
  • May 19, 2015 1:27pm May 19, 2015 1:27pm
Quoting Mr. Scott
{quote} Ok I lied, relevant chart. {image}
What I do when I don't know exact turning point is stagger my trades in small bits.
One can build longs all the way to 69 although to me its not likely.Euro has been falling way too long and there is tremendous energy to burst open for bulls.
Anyway this is great brainstorming.LOve these kinds of thought provoking posts.
In trading, you have to be defensive and aggressive at the same time
  • #29
  • May 19, 2015 1:27pm May 19, 2015 1:27pm
Quoting Davit
{quote} If you look at weekly chart you'll see EG has bottomed out and slowly moving up and upside has tremendous potential. same chart weekly To me bottom side has little risk compare to potential massive gains on Bull side.Its just trading place your SL say 70 and leave it alone. I am not suggesting to take the trade only that its a great set up worth taking.(I guess I am suggesting it anyway lol) {image}
I hear you and also have thought about that. With a 70 pip SL might be really worth it ...
Fix up, trade sharp ...
  • #30
  • May 19, 2015 1:37pm May 19, 2015 1:37pm
Nice Mr. Scott! ... Another quality thread born. Sure to be a favorite.
Ghost Rider - WWTBMD?
  • #31
  • May 19, 2015 2:46pm May 19, 2015 2:46pm
Quoting albchr
Nice Mr. Scott! ... Another quality thread born. Sure to be a favorite.
Nice to see you post Chris

Guys I just want to share this pivot indicator.It works amazing! Only issue is you can't put it in template and make a new template but dropping in on chart works.
The precision is pretty nifty.Price stops correctly at 61% S specially.
Like so on EU
Just a tool to see where you can enter and exit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 28 KB
Click to Enlarge Name: EURGBPH4.png Size: 30 KB
Attached File(s)
File Type: mq4 Pivot 3.mq4   14 KB | 701 downloads
In trading, you have to be defensive and aggressive at the same time
  • #32
  • May 19, 2015 2:56pm May 19, 2015 2:56pm
Notice how price bounces off from R61 and daily pivot on GC
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADH1.png Size: 33 KB
In trading, you have to be defensive and aggressive at the same time
  • #33
  • May 19, 2015 3:30pm May 19, 2015 3:30pm
So it's fibs drawn off the pivot? That's nifty
  • #34
  • May 19, 2015 3:35pm May 19, 2015 3:35pm
Quoting Pharm0r
So it's fibs drawn off the pivot? That's nifty
Yes! pretty cool.Just does not stay on template (don't know why) so I just drop on chart
What impresses me how Price reacts to these levels.
In trading, you have to be defensive and aggressive at the same time
  • #35
  • May 19, 2015 3:38pm May 19, 2015 3:38pm
Quoting Davit
{quote} Yes! pretty cool.Just does not stay on template (don't know why) so I just drop on chart What impresses me how Price reacts to these levels.
oh wow. and you can add your own levels...

nvm. still looks like it's pretty accurate. ill give it some use
  • #36
  • May 19, 2015 3:43pm May 19, 2015 3:43pm
Quoting Davit
{quote} Nice to see you post Chris Guys I just want to share this pivot indicator.It works amazing! Only issue is you can't put it in template and make a new template but dropping in on chart works. The precision is pretty nifty.Price stops correctly at 61% S specially. Like so on EU Just a tool to see where you can enter and exit. {image} {image} {file}
That's nice Davit, I normally use pivot points and draw the fibos by hand, you have both at the same time there, pretty convenient.
Fix up, trade sharp ...
  • #37
  • May 19, 2015 3:44pm May 19, 2015 3:44pm
Quoting Pharm0r
{quote} oh wow. and you can add your own levels...
I have been always fan of Fibs and harmonics Scott and others use however when taking a position often price bounces off repeatedly off 38-61 before plunging lower or higher.I have been big fan of range trading and love pairs that don't trend much.To me its interesting always how price reacts to fibs.To all skeptics of Fibs just drop on any chart and look.
In trading, you have to be defensive and aggressive at the same time
  • #38
  • May 19, 2015 3:47pm May 19, 2015 3:47pm
Quoting Davit
{quote} I have been always fan of Fibs and harmonics Scott and others use however when taking a position often price bounces off repeatedly off 38-61 before plunging lower or higher.I have been big fan of range trading and love pairs that don't trend much.To me its interesting always how price reacts to fibs.To all skeptics of Fibs just drop on any chart and look.
Once I dive a bit deeper into programming I'll have to add my own fibs
  • #39
  • May 19, 2015 3:47pm May 19, 2015 3:47pm
Quoting Hickson
{quote} That's nice Davit, I normally use pivot points and draw the fibos by hand, you have both at the same time there, pretty convenient.
I took long on EG at 7186 and will add more should price go lower.
Notice how Price hit daily pivot but stopped at 38
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH1.png Size: 32 KB
In trading, you have to be defensive and aggressive at the same time
  • #40
  • May 19, 2015 4:00pm May 19, 2015 4:00pm
Quoting Davit
{quote} Yes! pretty cool.Just does not stay on template (don't know why) so I just drop on chart What impresses me how Price reacts to these levels.
Hi Davit:
I made 1 minor change to the indie. Now it can be saved in templates.
Please try.

Attached File(s)
File Type: ex4 Pivot 3.ex4   24 KB | 656 downloads

Attached File(s)
File Type: mq4 Pivot 3.mq4   14 KB | 761 downloads
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