EURUSD Ditto...
Highest Open / Lowest Open Trade
- #5,442
- Aug 19, 2016 2:26am Aug 19, 2016 2:26am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
EURGBP Liar, Liar...
- #5,443
- Aug 19, 2016 2:30am Aug 19, 2016 2:30am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
GBPCHF As I said, caution advised...
- #5,444
- Aug 19, 2016 2:31am Aug 19, 2016 2:31am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
EURCAD 1-2-3 potential...
- #5,445
- Aug 19, 2016 2:33am Aug 19, 2016 2:33am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
USDCAD Another potential 1-2-3 setting up...
- #5,446
- Aug 19, 2016 2:39am Aug 19, 2016 2:39am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
GBPJPY These Long-Range-Candles are going to curse us today...''Arr...Feel it in me bones, Jim lad...''
- #5,447
- Aug 19, 2016 2:41am Aug 19, 2016 2:41am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
EURJPY Great move for the early birds...
- #5,448
- Aug 19, 2016 2:44am Aug 19, 2016 2:44am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
NZDUSD We might get something out of this today...keep an eye on it...
- #5,449
- Aug 19, 2016 2:47am Aug 19, 2016 2:47am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
AUDJPY Breakout - gives us a potential 1-2-3 though...
- #5,450
- Aug 19, 2016 2:49am Aug 19, 2016 2:49am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
AUDNZD BIG move south - extreme caution advised...
- #5,451
- Aug 19, 2016 2:52am Aug 19, 2016 2:52am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
NZDJPY Might give us something today...
- #5,452
- Aug 19, 2016 2:58am Aug 19, 2016 2:58am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
TooSlow : Yes, MichaelG, you are correct. After one can profitably trade this method by following the rules, then and only then, should they abandon the rules if they so desire. Any trade entered in the "area of interest" has the potential to be a winner. The closer you enter to the daily high or daily low, the more pips you can bank. And the tighter your stop. Any entry method can be deployed in the "area of interest". The entry shared in this thread has proved to be profitable and less risky. As previously stated, the hardest part of this method...
But you have to learn to crawl first....One move at a time....have patience. Learn patience. Learn to crawl first because it will make you a much better dancer.
Cheers___________________________________ ___________________________________ _
:nerd: IMHO newbie like me should read many pages behind
- #5,454
- Aug 19, 2016 3:03am Aug 19, 2016 3:03am
- Joined Jan 2008 | Status: Always do whatever's next. | 788 Posts
[quote=Iamfx;9091793]
WARNING: ARTICLE CONTAINS FOUL LANGUAGE The Feedback Loop from Hell Mark MansonMonday, August 15, 2016 Theres an insidious quirk Good post. Eckhart Tolle perhaps puts it more succinctly "The greatest diffuclty is the mental resistance to things that arise, and the underlying assumption that they should not." and "The ego is sustained by continuous resistance"
It takes courage to grow up and become who you really are - E.E. Cummings
- #5,456
- Aug 19, 2016 3:14am Aug 19, 2016 3:14am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
*** CAUTION *** Today's low is below yesterday's low. {image}
I have been analysing the frequency of success to failure for 1-2-3 trades based around the type of breakout bar - the shape of the closed bar. It has become noticeable that a bar with a close towards the end of the bar is less likely to give a successful 1-2-3, whereas a bar with a close further back where it started, has a greater chance of success. As such, I'm now tending to look for and give more weight to, breakout bars with this profile...swords which have ''long blades and short handles''.
It'll be interesting to see where this goes. It makes sense, as a price returning to where it started shows lack of momentum - a move running out of steam - whereas price staying up at the end of the bar, shows the move still has life, some ''oomph'' left behind it. On top of that, quite often, if the first Breakout doesn't turn on the next bar, the one following it will.
It's all fun in the sun...
- #5,457
- Aug 19, 2016 3:18am Aug 19, 2016 3:18am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
EURCAD Ta much like...
- #5,459
- Aug 19, 2016 3:32am Aug 19, 2016 3:32am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} Yeah - I'm watching this one cautiously from a distance... {image} I have been analysing the frequency of success to failure for 1-2-3 trades based around the type of breakout bar - the shape of the closed bar. It has become noticeable that a bar with a close towards the end of the bar is less likely to give a successful 1-2-3, whereas a bar with a close further back where it started, has a greater chance of success. As such, I'm now tending to look for and give more weight to, breakout bars with this profile...swords which have ''long blades...
So today's three possible trades have already gone on to lend some weight to this idea. The one which most closely fits the profile, rewarded with a very nice, clean reversal and immediately bagged profit. The other two (and I'm not even including the runaway AUDNZD move at all in this) have continued to test further in the breakout direction. They may still turn but for now, they would be giving my sl some concern.
Using a fib extension on the breakout bar would suggest a visual filter, in that the close of the bar should be outside the first fib zone at least and preferably further. If it is inside that first zone, don't take - or at least treat cautiously and expect some hesitation to any move.
