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The Paradox System

  • #6,821
  • Dec 18, 2016 8:26pm Dec 18, 2016 8:26pm
Quoting whitford
Thanks Dana Question - if there is confluence at a particular area as we start to see tight consolidation ie between the H1 and H2 now - can this confluence be enough of an indication for an entry if still trading with the daily trend?
Your very first step is creating a trading plan and post it before asking questions. This way everyone can understand your question. Besides - creating a trading plan you might be able to answer your own question. Right now you are not seeing it.
The Dove - Forex Trainer
  • #6,822
  • Dec 18, 2016 8:42pm Dec 18, 2016 8:42pm
Quoting dove_alliance
{quote} And Here is the Template: Date: Daily: ROMAR - Support or Resistance EMA - Support or Resistance PSAR - Support or Resistance Check List: Last MACD 0 crossing - Up or Down Last EMA Alert Arrow - Up or Down Last DB Attachment - Price Fibo up or down - Notes: 2 HR: OPEN PRICE - ROMAR - Support or Resistance EMA - Support or Resistance PSAR - Support or Resistance Check List: Last MACD 0 crossing - Up or Down Last EMA Alert Arrow - Up or Down Last DB Attachment - Price Fibo up or down - Notes: 1 HR: ROMAR - Support or Resistance EMA - Support...
I had place "Adjustment on Plan" at the bottom of the template and the reason is because something might happen in the market and may change your trading plan. And another reason is because MT4 does not change the Daily Candle until 20:00 EST. And because of this error with MT4 you could very well get a new signal on the Daily at 20:00. If you should make changes on your plan then make the changes and post it under "Adjustment".
The Dove - Forex Trainer
  • #6,823
  • Dec 18, 2016 8:59pm Dec 18, 2016 8:59pm
Subscribing to this. Seems promising. Now to read all about this system!
  • #6,824
  • Dec 18, 2016 9:08pm Dec 18, 2016 9:08pm
Sorry about that. Trading plan below. Please let me know feedback as I'm not sure if i'm reading it right i struggle with consolidation and having clarity.

Date: Mon, 19-Dec-2016

Daily:
ROMAR - Support
EMA - Support
PSAR - Support

Check List:
Last MACD 0 crossing - Down
Last EMA Alert Arrow - Down
Last DB Attachment - 124.094 @ 0.0 Fibo
Fibo up or down - Down

Notes: Long term trend still Up. Market opened above purple. Purple appears as support. Last DB attachment was 124.094 which was @ 0.0 FIBO.

2 HR:
OPEN PRICE -123.11
ROMAR - Support
EMA - Resistance
PSAR - Resistance

Check List:
Last MACD 0 crossing - Down
Last EMA Alert Arrow - Down
Last DB Attachment - 124.094
Fibo up or down - Down

Notes: PSAR flipped. Four horsemen now in downtrend configuration. 61.8 Fibo has been tested four times as support.

1 HR:
ROMAR - Resistance
EMA - Resistance
PSAR - Resistance

Check List:
Last MACD 0 crossing - Down
Last EMA Alert Arrow - Down
Last DB Attachment - 122.83
Fibo up or down - Up

Notes: ROMAR running through center of market so we are in consolidation with the 2 hr trend. Purple/White/Smooth close to ROMAR. Purple just about to cross ROMAR.

Final Notes: Market in Consolidation as all three charts are not in sync.

Entry:
Consolidation: Short @ Retest of purple as resistance with market looking like it is heading towards ROMAR (for 20-30 pips)
Long: If 61.8 FIBO holds as support or at ROMAR with purple crossing white
Short: If purple crosses white on daily and we have a swing downwards with all charts in sync for a downtrend.
  • #6,825
  • Dec 18, 2016 9:19pm Dec 18, 2016 9:19pm
Quoting whitford
Sorry about that. Trading plan below. Please let me know feedback as I'm not sure if i'm reading it right i struggle with consolidation and having clarity. Date: Mon, 19-Dec-2016 Daily: ROMAR - Support EMA - Support PSAR - Support Check List: Last MACD 0 crossing - Down Last EMA Alert Arrow - Down Last DB Attachment - 124.094 @ 0.0 Fibo Fibo up or down - Down Notes: Long term trend still Up. Market opened above purple. Purple appears as support. Last DB attachment was 124.094 which was @ 0.0 FIBO. 2 HR: OPEN PRICE -123.11 ROMAR - Support EMA - Resistance...
OK - very good. But for entry I would not be looking at the Daily unless it was off support and/or resistance. Looking for White crossing on Purple with the Daily could be days or even weeks. You are looking for an entry off the 2 hour chart for all your trades. The H2 is steadfast for any entry.
The Dove - Forex Trainer
  • #6,826
  • Dec 18, 2016 9:23pm Dec 18, 2016 9:23pm
Quoting dove_alliance
{quote} OK - very good. But for entry I would not be looking at the Daily unless it was off support and/or resistance. Looking for White crossing on Purple with the Daily could be days or even weeks. You are looking for an entry off the 2 hour chart for all your trades. The H2 is steadfast for any entry.
Okay thanks Dana appreciate the prompt feedback. Would my short entry be the same as the consolidation entry in this case?
  • #6,827
  • Dec 18, 2016 9:29pm Dec 18, 2016 9:29pm
Quoting whitford
{quote} Okay thanks Dana appreciate the prompt feedback. Would my short entry be the same as the consolidation entry in this case?
When you make an entry off your plan you have to post the H2 chart showing your entry and give the reason for your entry.
The Dove - Forex Trainer
  • #6,828
  • Dec 18, 2016 9:48pm Dec 18, 2016 9:48pm
Date: December 18/16
Session: Asian
News: Medium to High Impact news overnight

Daily:
ROMAR - Support
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing: down
Last EMA Alert Arrow: up
Last DB Attachment:124.084
Fibo up or down: red
Notes: Daily open underneath purple with four horsemen
in the shallow uptrend with fibs turned for the down. Rejection of smooth support in moment candle.

2 HR:
OPEN PRICE - 123.109
ROMAR - Support
EMA - Resistance
PSAR - Resistance
Check List:
Last MACD 0 crossing: down following ema alert in correct order
Last EMA Alert Arrow: Down
Last DB Attachment: 124.084 top
Last Sar Attachment: 122.552
Fibo up or down: Red for down
Notes: 2 hour is in a consolidation swing headed for romar with fib 61.8
holding support and contour line broken.

1 HR:
ROMAR - Support
EMA - Resistance
PSAR - Resistance
Check List:
Last MACD 0 crossing: down
Last EMA Alert Arrow: down
Fibo up or down: red for down
Notes: H1 is in a shallow consolidation swing for down at the moment with
contour line holding support and lower bollinger band beginning to widen.

Final Notes for all three charts: H1 and H2 in agreement for going short but there is major support holding that from happening. Limited trading possiblities.
Entry: This is a tight consolidation with market hitting 61.8 fib for support on H2 and four horsemen as resistance on H2 and h1 along with contour
line on H1 as well. I don't see much for trading so awaiting the breakout. Major constriction going on. Careful on medium to high impact news overnight.
Consolidation:
Long:
Short:
Notes for readjustments:
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Behind the curtain's mystic fold The glowing future lies unrolled!!
  • #6,829
  • Dec 18, 2016 9:58pm Dec 18, 2016 9:58pm
Quoting dove_alliance
{quote} When you make an entry off your plan you have to post the H2 chart showing your entry and give the reason for your entry.
Okay great will do
  • #6,830
  • Dec 18, 2016 10:14pm Dec 18, 2016 10:14pm
And here is my entry in the moment at break of 61.8 on H2. Will move stop to break even at h2 Romar as major support.
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Behind the curtain's mystic fold The glowing future lies unrolled!!
  • #6,831
  • Dec 18, 2016 10:16pm Dec 18, 2016 10:16pm
Quoting dove_alliance
{quote} When you make an entry off your plan you have to post the H2 chart showing your entry and give the reason for your entry.
Okay sorry I didn't get to post this before the move occured. 2hr chart below. Entry short @ retest of purple as resistance 122.92 or candle before at 123. Target TP at ROMAR. Also once the move started to occur the DB attached to bottom of candle -confluence
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  • #6,832
  • Dec 18, 2016 10:49pm Dec 18, 2016 10:49pm
Quoting Paradox7
Date: 12-18-16 Daily: ROMAR - Support EMA - Support PSAR - Support Check List: Last MACD 0 crossing - Down Last EMA Alert Arrow - Up Last DB Attachment - 124.084 Fibo up or down - Down Notes: Sunday opening right above Purple support, last DB/SAR attachment at the 0 of the Fibo, could indicate for the longterm trend down 2 HR: OPEN PRICE - 123.109 ROMAR - Support EMA - Resistance PSAR - Resistance Check List: Last MACD 0 crossing - Down Last EMA Alert Arrow - Down Last DB Attachment - 124.084 Fibo up or down - Down Notes: PSAR flipped for the resistance,...

I ended up taking the short on the H2 open where I put the arrow, I closed the trade out when it hit Romar as I had predicted, and I saw the divergence attachment so this may shoot up a bit soon. All in all a good 30 pips I still got.

EDIT: Also, on my plan I said I would short if ROMAR crossed EMA on the H1 which it hasn't fully yet, but I saw the market kept opening below Romar and failed to get back above, so confirmed my analysis in that sense.
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  • #6,833
  • Dec 18, 2016 10:53pm Dec 18, 2016 10:53pm
Quoting Paradox7
{quote} I ended up taking the short on the H2 open where I put the arrow, I closed the trade out when it hit Romar as I had predicted, and I saw the divergence attachment so this may shoot up a bit soon. All in all a good 30 pips I still got. {image}
Great work I ended up taking the same trade and closing it at ROMAR only got 18.4 pips profit as I opened my position too early and in the wrong place! Good one to learn
  • #6,834
  • Dec 18, 2016 11:08pm Dec 18, 2016 11:08pm
Is the short entry suppose at the h1 candle that hit the h1 romar resistance?
H1 purple cross white with smooth on top of both of them which make it in sync with h2.
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  • #6,835
  • Dec 18, 2016 11:31pm Dec 18, 2016 11:31pm
Quoting whaleknight
Is the short entry suppose at the h1 candle that hit the h1 romar resistance? H1 purple cross white with smooth on top of both of them which make it in sync with h2. {image}
I'm probably not the right person to answer this but H2 is your trading chart so your entries are made off of this. But I believe your charts/indicators are incorrect did you re-start MT4 after 17:00 EST opening? Chris, Paradox7 and my charts all had the FIBO down for H2
  • #6,836
  • Dec 18, 2016 11:40pm Dec 18, 2016 11:40pm
Quoting whaleknight
Is the short entry suppose at the h1 candle that hit the h1 romar resistance? H1 purple cross white with smooth on top of both of them which make it in sync with h2. {image}
I don't know what is going on with your charts but they are completely wrong.
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #6,837
  • Dec 18, 2016 11:49pm Dec 18, 2016 11:49pm
Traders - let me give you all some great advice. In order to be a great trader you must always stay within the rules of trading. ROMAR is uptrend on all 3 charts and each of you was counter-trading the trend. The rule is 40/40 which means if you are counter-trading the trend then you need 40+ pips for an entry to support on a downtrend and 40+ pips to resistance for an entry on an uptrend. And each of you took your entry from center and went scalping. The lesson is learn how to trade from support to resistance and resistance to support.
The Dove - Forex Trainer
  • #6,838
  • Dec 18, 2016 11:55pm Dec 18, 2016 11:55pm
Quoting shinny
{quote} I don't know what is going on with your charts but they are completely wrong.
If you look at his charts you will see two pairs on his workspace. Which I believe means he has not read everything.
The Dove - Forex Trainer
  • #6,839
  • Dec 18, 2016 11:57pm Dec 18, 2016 11:57pm
Quoting dove_alliance
Traders - let me give you all some great advice. In order to be a great trader you must always stay within the rules of trading. ROMAR is uptrend on all 3 charts and each of you was counter-trading the trend. The rule is 40/40 which means if you are counter-trading the trend then you need 40+ pips for an entry to support on a downtrend and 40+ pips to resistance for an entry on an uptrend. And each of you took your entry from center and went scalping. The lesson is learn how to trade from support to resistance and resistance to support.
So true! I think I was so focused on trading during the consolidation that I looked for an entry that didn't exist when it is a consolidating uptrend! Still sooo much to learn thanks Dove
  • #6,840
  • Dec 19, 2016 12:09am Dec 19, 2016 12:09am
One more piece of advice. Hesitation is a killer. The entry was at opening with confluence in having the Parabolic and EMA on both the H1 and H2 in a counter downtrend. That was your 40 trade. You had both H1 and H2 4 horsemen in the counter trade at opening with the H2 ROMAR as support.
The Dove - Forex Trainer
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