AUDCAD
AUDUSD: This is a touch trade of 0.72500 quarter number. There are bar highs acting as support. There's also TL support and Fibo 61.80 confluence. I took partial profit at the FTA (first trouble area) and the balance of my position I will allow to run. Stop will be moved to BE now. I don't know of anybody else that trades this way, but it is by far my favourite method. 
- #83
- May 16, 2016 4:57pm May 16, 2016 4:57pm
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
Whoa! Those are some pretty nifty charts 
I trade Renko as my understanding of pure PA is... well, not so good. Not that I understand Renko better but it's easier on the eye for me, so my reply to your charts here follows.
AUDCAD, Renko.
If price retraces and breaks the diagonal line, I'll think about going long after the break of the horizontal line.
If it stays below the diagonal line, and return, maybe, maybe, I'll short it but it looks like a continuation and I'm not so good with those.
AUDUSD, Renko.
Same as with AUDCAD
EURAUD, Renko.
A divergence suggesting a down movement.
If you follow the Down Under/Quasimodo or whatever it's called, it suggests a move upwards. It also forms the 1-2-3 legs of a Wolfe Wave leaving legs 4 and 5 to either fail or get created.
As for me, you can see my stupid entries at the bottom of the last meaningful low, I will remove them after finishing this post as price should bounce somewhat around this area before deciding upon direction.
I trade Renko as my understanding of pure PA is... well, not so good. Not that I understand Renko better but it's easier on the eye for me, so my reply to your charts here follows.
AUDCAD, Renko.
If price retraces and breaks the diagonal line, I'll think about going long after the break of the horizontal line.
If it stays below the diagonal line, and return, maybe, maybe, I'll short it but it looks like a continuation and I'm not so good with those.
AUDUSD, Renko.
Same as with AUDCAD
EURAUD, Renko.
A divergence suggesting a down movement.
If you follow the Down Under/Quasimodo or whatever it's called, it suggests a move upwards. It also forms the 1-2-3 legs of a Wolfe Wave leaving legs 4 and 5 to either fail or get created.
As for me, you can see my stupid entries at the bottom of the last meaningful low, I will remove them after finishing this post as price should bounce somewhat around this area before deciding upon direction.
- #84
- May 17, 2016 12:16am May 17, 2016 12:16am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
An update on my EURAUD.
EURAUD, Renko.
Just remembered that on an uptrend we should start counting the Over and Under from a high and not a low so the pattern is updated and is showing a bias towards a down trend.
I've also noticed that the point 4 of the WW is too low so it's a failed pattern but another WW might be forming pointing up but until point 4 has been established we can disregard it.
Let's see if I got it right this time
EURAUD, Renko.
Just remembered that on an uptrend we should start counting the Over and Under from a high and not a low so the pattern is updated and is showing a bias towards a down trend.
I've also noticed that the point 4 of the WW is too low so it's a failed pattern but another WW might be forming pointing up but until point 4 has been established we can disregard it.
Let's see if I got it right this time
- #86
- May 17, 2016 4:14am May 17, 2016 4:14am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
Interesting Nir, thanks. I am watching this. It would help though if I had Renko to follow along with you. See PM. EURAUD is going to 1.52500 pivot zone. Ill post when I get long from there. I like some solid support/resistance at my back. I find that trading from no mans land diminishes the probability of the trade.
I'll help as much as I can
- #87
- May 17, 2016 5:50am May 17, 2016 5:50am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
So, been a while, eyh?
My basket EA acted up again, the last two times it had happened, I wasn't sure what was the cause but now I'm sure it remember trade lines even though they were deleted (something good came out of this thread, got to see my own screenshots and compare it to the charts although I have to admit I would have liked this thread to be more about me winning than me losing), so I got wacked for 3K$ or so which basically, annihilated my account. I still had some funds left but most of it were gone when I stupidly, I was understandably upset, tried to regain some of my losses back.
So, I'm leaving some of those trades active, even though they are at a loss at the moment because I think they might retrace but there's every chance I'm not reading the charts all that well, as I most often do, if there's something left of my account by next week, I'll decide what to do with it than. If not, I'll go back to HotForex and fund my account there with a small sum and work on my need-to-stop-over-trading skills which are lacking badly
On another note Gvc had written a nice lil' EA to launch trades again C5 and C14, nothing fancy but looks like it's getting the job done so I'm going to take a look into it, as well.
My basket EA acted up again, the last two times it had happened, I wasn't sure what was the cause but now I'm sure it remember trade lines even though they were deleted (something good came out of this thread, got to see my own screenshots and compare it to the charts
although I have to admit I would have liked this thread to be more about me winning than me losing), so I got wacked for 3K$ or so which basically, annihilated my account. I still had some funds left but most of it were gone when I stupidly, I was understandably upset, tried to regain some of my losses back.So, I'm leaving some of those trades active, even though they are at a loss at the moment because I think they might retrace but there's every chance I'm not reading the charts all that well, as I most often do, if there's something left of my account by next week, I'll decide what to do with it than. If not, I'll go back to HotForex and fund my account there with a small sum and work on my need-to-stop-over-trading skills which are lacking badly
On another note Gvc had written a nice lil' EA to launch trades again C5 and C14, nothing fancy but looks like it's getting the job done so I'm going to take a look into it, as well.
- #88
- May 17, 2016 10:00am May 17, 2016 10:00am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
And.... there goes the account *SIGH* too many open trades, I guess with not enough equity to support 40+ pips moves, so, off we go to another start. I'll take the next couple of days to sort my old account at HF and all and we'll start a new
- #89
- May 17, 2016 10:07am May 17, 2016 10:07am
So, been a while, eyh? My basket EA acted up again, the last two times it had happened, I wasn't sure what was the cause but now I'm sure it remember trade lines even though they were deleted (something good came out of this thread, got to see my own screenshots and compare it to the charts
So what about your account blow up? How did you do that?
- #90
- May 17, 2016 10:17am May 17, 2016 10:17am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
- #92
- May 21, 2016 9:55am May 21, 2016 9:55am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
- #93
- May 21, 2016 10:36am May 21, 2016 10:36am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
So,
First few trades with the new micro account, back at HotForex, didn't go so well but let's see what was there.
C5, Basket.
Trade #1
So, I switched EA and offline chart generator and boy was that a shock. The chart is different than I'm used to, it would have probably been wiser starting up on demo but we all learn some way or another, me, I guess, I'm learning the hard way.
So, first trade, went up to 7$, ended up 1.6$ in plus after JTS was hit.
Entry was at the "1" mark. The candle was turning up and I thought the move up resumes, instead, I got this huge wicks, which is, I know know, is how the offline chart generator works. We'll get to those later. Again.
Trade #2
After failing to create a new high and all those wicks refusing to go any higher, I've decided it's time to short. I was ready for some up move before the fall down but when that huge wick came, again, for a DD of 7$ I reversed, figuring I wasn't reading anything good in that chart so I closed and reversed at "3".
Trade #3x2
The laugh is on me, eyh? Price dropped 20$ (I took two baskets to compensate the loss), I closed it at "4" and reversed.
Trade #4
No a lot to say, I should have stayed from point "2" but got scared because the account is so small.
I went to the thread where I got the offline chart generator and asked about the wicks and someone told me I might try the line chart. Now, usually, I don't like using it since I'm losing tons of patterns but with those wicks I'm not so sure the patterns are actually there.
This is how the same chart looks like using a line chart. See how some of the semafor dots are way way up there? That's how long the wicks are.
And this is how the adjusted to line chart looks like. Weird, eyh?
First few trades with the new micro account, back at HotForex, didn't go so well but let's see what was there.
C5, Basket.
Trade #1
So, I switched EA and offline chart generator and boy was that a shock. The chart is different than I'm used to, it would have probably been wiser starting up on demo but we all learn some way or another, me, I guess, I'm learning the hard way.
So, first trade, went up to 7$, ended up 1.6$ in plus after JTS was hit.
Entry was at the "1" mark. The candle was turning up and I thought the move up resumes, instead, I got this huge wicks, which is, I know know, is how the offline chart generator works. We'll get to those later. Again.
Trade #2
After failing to create a new high and all those wicks refusing to go any higher, I've decided it's time to short. I was ready for some up move before the fall down but when that huge wick came, again, for a DD of 7$ I reversed, figuring I wasn't reading anything good in that chart so I closed and reversed at "3".
Trade #3x2
The laugh is on me, eyh? Price dropped 20$ (I took two baskets to compensate the loss), I closed it at "4" and reversed.
Trade #4
No a lot to say, I should have stayed from point "2" but got scared because the account is so small.
I went to the thread where I got the offline chart generator and asked about the wicks and someone told me I might try the line chart. Now, usually, I don't like using it since I'm losing tons of patterns but with those wicks I'm not so sure the patterns are actually there.
This is how the same chart looks like using a line chart. See how some of the semafor dots are way way up there? That's how long the wicks are.
And this is how the adjusted to line chart looks like. Weird, eyh?
- #95
- May 22, 2016 3:32pm May 22, 2016 3:32pm
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
{quote} No PA in the zone so I did the next best thing. Pretty neat entry, huh?{image}
If I would have entered this trade it would have rocket sky high but you might actually pull this one through.
I'm waiting for this one to push through and that EURCAD from last week is still dangling in there, as well.
{quote} You got some nerves of steel (I would have written something else but I'm keeping a clean language for five minutes a day and now's that time of day), I dare say. If I would have entered this trade it would have rocket sky high but you might actually pull this one through. I'm waiting for this one to push through and that EURCAD from last week is still dangling in there, as well. {image}
I took profit on GA because I didn't like the the response to 2.00000 (banked 249 pips). I am now long on the H6 bullish engulfing bar. It's one of those proper PA "back to the mean" type of trades. Not my style! Not very confident in it, hence the incredibly small risk.
PS: I've got an eye on your watch-list.
- #97
- May 23, 2016 6:03am May 23, 2016 6:03am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
{quote} Good morning, N. (Yes, irony intended). I took profit on GA because I didn't like the the response to 2.00000 (banked 249 pips). I am now long on the H6 bullish engulfing bar. It's one of those proper PA "back to the mean" type of trades. Not my style! Not very confident in it, hence the incredibly small risk.{image} PS: I've got an eye on your watch-list.
I usually don't trade engulfing bars like this but wait for the price to close above the high of the engulfing bar, usually they go down from there.
Not in front of my charts but basket is doing great, I took the AUDCAD trade which is dnagling in Minor Loss Land, also took a short on USDJPY which already hit TP1 and TP2, with a small profit on the third trade (still not at BE) and might go long on EURGBP if it shows nice PA (more up movement with a small retrace and I'm in).
I'll post some charts later.
{quote} Glad you made some pips!
Nice work, N. Waiting for the charts.
- #99
- May 23, 2016 11:59am May 23, 2016 11:59am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
{quote} Its a retracement entry. The idea is to get a better entry. Very oft price will pull back to the previous sessions high before continuing with its rally. It makes managing the trade easier and maximises your profit potential (tighter stop). Nice work, N. Waiting for the charts.
I don't have H6 so I looked at H4, it looks like it went down and not up, how did this trade went for you?
{quote} Well, I'm not used to these kind of trades. I don't have H6 so I looked at H4, it looks like it went down and not up, how did this trade went for you?
I shall close out at BE.