{quote} Downtrend retracement is going up, then isn't it going against gravity?
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Dana Say:
"Lets take the uptrend and downtrend and separate them in using a Semi as an example:
You have a Semi traveling down a flat road around 70 miles an hour and then he is coming upon a mountain. As he hit the crest of this mountain he began down shifting and speed is slowing down. As he gets deeper into the incline he is down to about 20 miles and hour. As he gets to the top of the mountain he must adjust his speed for the incline setting up the proper gear and turning on the Jake brake. As he declines the Mountain he has to be sure his speed holds no more then 35 miles per hour as his load is 50,000 pounds. With his foot on the brake he must also adjust the pressure as not to burn the brakes. If he should burn the breaks then he better be praying. There is no stopping that truck above 45 miles per hour. It is down hill and if it gets lose there is nothing going to stop it.
It is the same as for the uptrend - slow and easy; and downtrend with wings spread and flying downhill."
And then:
"It is like the story of the Semi -- separating Uptrend from Downtrend. Neither one is the same but opposite, true, and real. Retraces are totally different from one another. Uptrend retraces are longer deeper into the horsemen. Downtrend retraces are shorter and shallower into the horsemen. Turns on the uptrend are shorter because the momentum is lighter. The turns on the downtrend is longer because the momentum is heavier. And because of the variables with both the Up and Downtrend's; the divergence is also opposite. That is the difference. You cannot trade the uptrend the same as you would the downtrend.
See if you can get your mind wrap around that."
Lets take the uptrend and downtrend and separate them in using a Semi as an example: You have a Semi traveling down a flat road around 70 miles an hour and then he is coming upon a mountain. As he hit the crest of this mountain he began down shifting and speed is slowing down. As he gets deeper into the incline he is down to about 20 miles and hour. As he gets to the top of the mountain he must adjust his speed for the incline setting up the proper gear and turning on the Jake brake. As he declines the Mountain he has to be sure his speed holds...
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Does it mean that some people are trying to keep the price from going too low? Basing on the example above, someone turned on the jake break on the market going lower too fast? This is very intriguing.
No tree, it is said, can grow to heaven unless its roots reach down to hell
{quote} Dana Say: "Lets take the uptrend and downtrend and separate them in using a Semi as an example: You have a Semi traveling down a flat road around 70 miles an hour and then he is coming upon a mountain. As he hit the crest of this mountain he began down shifting and speed is slowing down. As he gets deeper into the incline he is down to about 20 miles and hour. As he gets to the top of the mountain he must adjust his speed for the incline setting up the proper gear and turning on the Jake brake. As he declines the Mountain he has to be sure...
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basically the up is going at a decreasing speed, and the down can be moving in an accelerating pace if nothing stops it.
its just the retracement part i am confused, cos when you link it to gravity(which is going in the "other" direction), i dont really understand.
or are you saying just ignore the direction of the retracement and just focus on the direction of the trend?
{quote} basically the up is going at a decreasing speed, and the down can be moving in an accelerating pace if nothing stops it. its just the retracement part i am confused, cos when you link it to gravity(which is going in the "other" direction), i dont really understand. or are you saying just ignore the direction of the retracement and just focus on the direction of the trend?
I go short at 123.53 SL=40 TP=40 Reason : 1. Market in downtrend 2. H2 market opened in resistance area. also encouraged by this knowledge, i dare myself to pull the trigger {quote} Like Bigijs said, H2 Market Hit White, not reaching Smooth or EMA, it was a shallow retracement, like Dove said!!
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The market is touching the White for the last 4 hours, would you please explain why now only you triggered your trade. the reason for this question that you are able to select proper timing which i could not do.
{quote} {quote} The market is touching the White for the last 4 hours, would you please explain why now only you triggered your trade. the reason for this question that you are able to select proper timing which i could not do. Best regards
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4 hours ago :
I dont pull the trigger because i think in 2 hours there will be another JPY news, so better wait than sorry.
2 hours ago :
The JPY news released which is Prelim Machine Tool Orders y/y (no trade in the news release, like Dove said)
right now 3.00 EST :
We could see that the news is not moving the market anywhere, so we could stick to our daily plan, and execute it
Thanks
Update at 3.19 EST : Floating Profit 20+ pips, i move the SL to B/E
{quote} 4 hours ago : I dont pull the trigger because i think in 2 hours there will be another JPY news, so better wait than sorry. 2 hours ago : The JPY news released which is Prelim Machine Tool Orders y/y right now 3.00 EST : We could see that the news is not moving the market anywhere, so could stick to our daily plan, and execute it Thanks
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Thanks a lot, so it was not because you are waiting for London opening, in addition to mentioned reasons ?
{quote} 4 hours ago : I dont pull the trigger because i think in 2 hours there will be another JPY news, so better wait than sorry. 2 hours ago : The JPY news released which is Prelim Machine Tool Orders y/y (no trade in the news release, like Dove said) right now 3.00 EST : We could see that the news is not moving the market anywhere, so we could stick to our daily plan, and execute it Thanks Update at 3.19 EST : Floating Profit 20+ pips, i move the SL to B/E
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I would take profit now, very oversold and the SAR attached with the price tag. White and purple close to crossing on H1 and fibo is green on all charts
Update: You should've just moved your SL down 20 and not to b/e, I ended up selling on the next candle that opened below all 4 Horsemen. Gotta watch for those retraces
Can I firstly apologise for last night, really to myself for not following the system. Still though I was right and I was wrong, should of waited for signs of the reversal and not guessed. I've used fibs for ages and trust them. I've uploaded a PRT chart to show the strengths of the fib and what I was seeing. Looking at it with fresh eyes this morning I would of been shorting (with trend) on the initial breakout as EMA was below ROMAR and everything was saying DOWN! Why I was trying to counter it I will never know.
My thoughts to those getting frustrated or being negative:
-Author has in concrete, proposed the only pair to trade
-Author has proposed Asian Session (which if you search this website, or on the entire World Wide Web.... you'll be hard pressed to find a quasi-reliable strategy during Asian Session for Forex)
-Author has proposed exact time frames for charts to use
-Author has not changed any methodology or teachings midstream in any way/shape or form
-Author has proposed a TP/SL stategy which makes spread negligible (i.e. win 50% of the time and you are fine)
There is too much focus on understanding everything super, super quick; to be like the author. If one flipped a coin and called heads or tails, if you win, you get $100USD. If you lose, you lose $100USD, your chances of winning or losing are 50/50. You see? If one closes their eyes and either buys or sells any currency with a 100 point TP/SL, their chances of winning is not 40%... it is still 50%.
I believe the authors efforts, even for the challenged, will increase this coin flip win rate of a trader. For that effort, and in the fashion in which it was provided, it is worth something.
I wanted to type this because I think the author should know, the work presented here might just be appreciated in more ways than upon first glance. Not everyone reading, actually posts.
Anyone, who can take 1 trade a day and have a weekly record of 3 wins : 2 losses should be very happy. If you can do 4 wins : 1 loss, all the more power to you.
And trading like the author does... at 5 lots, or 500,000k. You can do the math.
