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  • #5,961
  • Mar 15, 2016 7:50am Mar 15, 2016 7:50am
Took a small trade i saw, it was a 1-2-3 on 10, and then I noticed a 1-2-3 within it on 5 at a BRN. Also, on both charts, both sto and macd printed a 1-2-3 pattern. Used only one contract, so TP was a safe S/R hit earlier.
Attached Image (click to enlarge)
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  • #5,962
  • Mar 15, 2016 8:04am Mar 15, 2016 8:04am
Quoting JoshuaHope
Took a small trade i saw, it was a 1-2-3 on 10, and then I noticed a 1-2-3 within it on 5 at a BRN. Also, on both charts, both sto and macd printed a 1-2-3 pattern. Used only one contract, so TP was a safe S/R hit earlier. {image}
Perfect!!
Cut your Losers short and let your Winners run.
  • #5,963
  • Mar 15, 2016 8:11am Mar 15, 2016 8:11am
Quoting dee50
{quote} The problem with 1 dimensional trading is you miss the bigger picture.!!! I haven't come across the method that you used to identify the 161.8%, can you explain it for me, is it part of one of the insect patterns?? {image}
Just taking the previous high, before the reversal point (on the 5p)
  • #5,964
  • Mar 15, 2016 8:41am Mar 15, 2016 8:41am
Quoting dee50
{quote} Perfect!!
Thanks Dee. I need to train my eyes to spot these setups on the go...this will take some doing...but definitely worth doing.
  • #5,965
  • Mar 15, 2016 9:54am Mar 15, 2016 9:54am
Manage to catch this, + 20 pips from de30.
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  • #5,966
  • Mar 15, 2016 9:55am Mar 15, 2016 9:55am
Ger30 +2+15. Divergence at BRN on 10 and second divergence on 5. It dipped bellow S/R,right to BRN and then started to push up. I am not sure if i can call it a 2B...
I got stopped out +2 on my first attempt, rode second to BRN.
Attached Image (click to enlarge)
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  • #5,967
  • Mar 15, 2016 9:57am Mar 15, 2016 9:57am
Quoting JoshuaHope
Ger30 +2+15. Divergence at BRN on 10 and second divergence on 5. It dipped bellow S/R,right to BRN and then started to push up. I am not sure if i can call it a 2B... I got stopped out +2 on my first attempt, rode second to BRN. {image}
Haha Joshua we both caught it. Previously i was on a sell got stopped out at 2 pips. Then saw the divergence.
  • #5,968
  • Mar 15, 2016 10:04am Mar 15, 2016 10:04am
Quoting stevox
{quote} Haha Joshua we both caught it. Previously i was on a sell got stopped out at 2 pips. Then saw the divergence.
Nice trade. So far I have pulled +33+2+15=50. If i could do this consistently every day i would be a very very happy man .
  • #5,969
  • Mar 15, 2016 10:07am Mar 15, 2016 10:07am
Quoting JoshuaHope
Ger30 +2+15. Divergence at BRN on 10 and second divergence on 5. It dipped bellow S/R,right to BRN and then started to push up. I am not sure if i can call it a 2B... I got stopped out +2 on my first attempt, rode second to BRN. {image}
I would call that a 2B. Nice trading, way to go!
Invincibility lies in the defence; the possibility of victory in the attack
  • #5,970
  • Mar 15, 2016 11:37am Mar 15, 2016 11:37am
Quoting BBalazs
{quote} I would call that a 2B. Nice trading, way to go!
Thanks mate . Here is the next trade i took that did not work. If there are no objections, i will post successes and failures when they occur. I took this trade after i assumed that the pattern that was created was a 1-2-3. Now, i observed it on the 5 pip chart, and decided to enter after 3 was confirmed. Because it was a deep retracement to 61.8%, i decided to target 127% fib from 1-2. The trade got to +2, and i decided to let it run as i went to walk my dog. It did not reach 127%, but the result was +2. My error - i did not pay attention to the 10 pip chart which clearly had a upper trendline there, so no surprise it bounced down. That should have been my first target.
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  • #5,971
  • Mar 15, 2016 12:02pm Mar 15, 2016 12:02pm
Thank you Dee, yes, looks like this topic didn't capture too much attention.
I've been thinking about the exit methodology and that's the reason on my post/concern.
You are right on the first opposite candle, as price keeps movin in a ledder fashion, so you might miss out a lot.
I was thinking on exiting purely in MACD crossing or color change, but most of the times there's noise, and might not be accurate enough. Just an impression.
Maybe stochs could work out better for this procedure, as it really senses the cycles.
Fixed SL and TP, yes is simple, and basically a bet having the odds "in your favor" trading with the trend, etc. But as you said, you may lose a lot of pips as well. So every consideration has its flaws in reality.

My personal target would be to rack 75-100 pips a day. It really looks easy, but actually is not. I've had very good days of +200, but also very bad days.

The reason behind all this is precisely to come up with some rules, to allow me rack up pips to reach my target. Probably with 3-4 trades a day, instead of trying to ride one single trade of 80 pips, which can be possible as well.




Quoting dee50
{quote} Looks like you will have difficulty getting a response to this question, because it is pretty much a matter of personal taste. What other traders feel comfortable with. First you need to decide are you taking the signal from a 5 pip or 10 pip chart. Technically, I would not choose the First Opposite Candle for the simple reason that the market cycles and depending on volatility you could get an opposite candle every 10 pips, the term Jack Rabbit springs to mind. If you are entering based on a signal from a combination of indicators and PA,...
  • #5,972
  • Mar 15, 2016 1:51pm Mar 15, 2016 1:51pm
Quoting cfabian
Thank you Dee, yes, looks like this topic didn't capture too much attention. I've been thinking about the exit methodology and that's the reason on my post/concern. You are right on the first opposite candle, as price keeps movin in a ledder fashion, so you might miss out a lot. I was thinking on exiting purely in MACD crossing or color change, but most of the times there's noise, and might not be accurate enough. Just an impression. Maybe stochs could work out better for this procedure, as it really senses the cycles. Fixed SL and TP, yes is simple,...
I am trying to implement some rules as well to make my entries less impulsive, but it is by no means easy. I for one, prefer Stoch to MACD as it reacts faster. I am kind of combining HA candles with Stochastic cycles. It really comes down to the individual at the end. There's but one thing you should not look over, and that is PA. PA first, indicators second.
Invincibility lies in the defence; the possibility of victory in the attack
  • #5,973
  • Mar 15, 2016 4:18pm Mar 15, 2016 4:18pm
Managed to squeeze in a trade on EJ, hopefully I'm over my power problems and can face the markets squarely tomorrow
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Let it turn and find your entry.
  • #5,974
  • Mar 16, 2016 2:48am Mar 16, 2016 2:48am
Quoting dee50
{quote} From my own personal point of view, I found the S&D zone boundaries were where I would have drawn my S&R lines anyway, so rather than fill a chart with lots of coloured boxes I decided to stay with what I have been using for years, but that is just me personally.

Thanks Dee - I'd come to the same conclusion and was just wondering if I'd missed something!
Trading Levels with WRBs
  • #5,975
  • Mar 16, 2016 3:11am Mar 16, 2016 3:11am
DAX +24 A bit of frustration to start the day with. Bought the triangle breakout, got BE, reentered to get half the inital pips.
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Hidden in plain sight.
  • #5,976
  • Mar 16, 2016 5:06am Mar 16, 2016 5:06am
I see a 10 renko deviation at resistance and 5 renko under 50 to short ...anyone else seeing this
  • #5,977
  • Mar 16, 2016 5:19am Mar 16, 2016 5:19am
DAX. Shorted the MACD div for +40, closed around 200EMA as I failed to take my profits on earlier trades and shorts are counter trend (for now). May well go lower but with FOMC around the corner we might see a range so profits are profits.
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Hidden in plain sight.
  • #5,978
  • Mar 16, 2016 5:33am Mar 16, 2016 5:33am
GER30+40. Easy Peasy. Compounded x10 = 400pips, can we live off that?? All we had to do was "Wait"
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #5,979
  • Mar 16, 2016 5:35am Mar 16, 2016 5:35am
Quoting jakucha
DAX. Shorted the MACD div for +40, closed around 200EMA as I failed to take my profits on earlier trades and shorts are counter trend (for now). May well go lower but with FOMC around the corner we might see a range so profits are profits. {image}
"Great Minds Think Alike" we must have great minds
Cut your Losers short and let your Winners run.
  • #5,980
  • Mar 16, 2016 5:41am Mar 16, 2016 5:41am
Quoting dee50
GER30+40. Easy Peasy. Compounded x10 = 400pips, can we live off that?? All we had to do was "Wait" {image}
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