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A very simple system - trade with arrow

  • #1,881
  • Apr 7, 2017 6:32am Apr 7, 2017 6:32am
Quoting Islandfx911
Hi Pips, From your charts you seem to have many strategies in place to trade with... 4hr, 1hr, 30m, 15m, with trend, counter trend. Do you consider all of them necessary to trade profitably or something that just suits you personally?
Yes, you are right that I have different methods for different time frames and trade ct quite often too..since price moves in waves and if price is at the top of the wave it makes sense to ride the wave down even though it's a smaller wave..profits are made in both long and short and timing and location of price are essential for a profitable trade in the smaller time frame. I am just trying to be accurate with retracement rather than a reversal..below is the 1 hour chart of eur/gbp..Would you rather buy or sell ? You have to get this right in order to be profitable...I woulkd rather sell if price gets up there, TL and zone
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH1.png Size: 50 KB
the cautious seldom err....C
  • #1,882
  • Apr 7, 2017 6:45am Apr 7, 2017 6:45am
I would be looking for a break of the previous swing high with a reversal bar short on a lower timeframe although it looks like a strong support based was formed prior to the move up. Also noticed there is a pivot above which could stall the climb and move price down.
Your trade order needs to be in the right place at the right time.
  • #1,883
  • Apr 7, 2017 6:56am Apr 7, 2017 6:56am
Quoting Islandfx911
I would be looking for a break of the previous swing high with a reversal bar short on a lower timeframe although it looks like a strong support based was formed prior to the move up. Also noticed there is a pivot above which could stall the climb and move price down.
you are looking for a test and a bearish candle to show rejection and then take a sell, if I am correct
the cautious seldom err....C
  • #1,884
  • Apr 7, 2017 6:58am Apr 7, 2017 6:58am
1 hour oil...why you can make money doing CT trades if taken properly....doji/spinning tops often signify pause in the move
Attached Image (click to enlarge)
Click to Enlarge Name: WTIK7H1.png Size: 48 KB
the cautious seldom err....C
  • #1,885
  • Apr 8, 2017 5:14am Apr 8, 2017 5:14am
I was just looking at this pair and thought I share this with you and possibly get some feedback...I will show charts from the weekly down to the 4 hour . On the weekly and for the past 5 weeks you will find a bullish week followed by a bearish week and this week ended as bullish..However, I wish to point out the size of the candles and this week couldn't close above last week open. Would you buy in this case? I wouldn't..on the daily you will see wicky tops for the past 2 days and price could not close above the S/R levels drawn on my chart and going down to the 4 hour with fibs drawn you will see price has been rejected several time at the 61.8fib plus the fact price did not close above the red line drawn at the high of big bearish candle (look left) though this level was pierced 6 times making this a very strong resistence level..in view of this I will be looking to short next week using the 1 hour chart...please share your view
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURAUDWeekly.png Size: 49 KB
Click to Enlarge Name: EURAUDDaily.png Size: 50 KB
Click to Enlarge Name: EURAUDH4.png Size: 50 KB
the cautious seldom err....C
  • #1,886
  • Apr 9, 2017 8:37am Apr 9, 2017 8:37am
Why I always remove stops before Friday's close...just look at these spreads with this broker
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPNZDH1.png Size: 61 KB
Click to Enlarge Name: NZDCADH1.png Size: 63 KB
the cautious seldom err....C
  • #1,887
  • Apr 9, 2017 9:25am Apr 9, 2017 9:25am
quite tricky to read pa on u/y...on the weekly the previous week was a doji (indecision) followed by another indecisive candle ,the hammer..the only good take from these are the clear indication of the rejection @110.10.,,,,,.the daily ended as a bullish candle (buob) after several rejection of the 110.10 level as shown by the wicky bottoms ... the 4 hour ended as a small doji after a big bullish candle..I am of the opinion that a buy within the blue zone would result in a profitable trade if price manages to come down..your thoughts??
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY W1 (04-09-2017 1510).png Size: 45 KB
Click to Enlarge Name: USDJPY D1 (04-09-2017 1512).png Size: 44 KB
Click to Enlarge Name: USDJPY H4 (04-09-2017 1512).png Size: 43 KB
the cautious seldom err....C
  • #1,888
  • Apr 9, 2017 10:11am Apr 9, 2017 10:11am
Quoting pips29
quite tricky to read pa on u/y...on the weekly the previous week was a doji (indecision) followed by another indecisive candle ,the hammer..the only good take from these are the clear indication of the rejection @110.10.,,,,,.the daily ended as a bullish candle (buob) after several rejection of the 110.10 level as shown by the wicky bottoms ... the 4 hour ended as a small doji after a big bullish candle..I am of the opinion that a buy within the blue zone would result in a profitable trade if price manages to come down..your thoughts?? {image} {image}...
Hi pips29,

I have two questions. If the weekly does not exhibit the indecision candles. And daily have no strong buob pattern. Would you still enter short around 110.10 based only on the wicks on H4?

And if daily close below 110.10, would you consider selling?
  • #1,889
  • Apr 9, 2017 10:14am Apr 9, 2017 10:14am
Quoting pips29
I was just looking at this pair and thought I share this with you and possibly get some feedback...I will show charts from the weekly down to the 4 hour . On the weekly and for the past 5 weeks you will find a bullish week followed by a bearish week and this week ended as bullish..However, I wish to point out the size of the candles and this week couldn't close above last week open. Would you buy in this case? I wouldn't..on the daily you will see wicky tops for the past 2 days and price could not close above the S/R levels drawn on my chart and...

I agree with you on the strong rejection. But I have some doubts. From my experience often long wick is only an indication or prewarning: it might not necessarily lead to a trend change. I would rather wait until say the APB color changes to red to sell.
However if there is only one daily pin bar (instead of two), and price only rejected say, two times, would sell trade still be a good idea?
  • #1,890
  • Apr 9, 2017 10:26am Apr 9, 2017 10:26am
Quoting antonym
{quote} Hi pips29, I have two questions. If the weekly does not exhibit the indecision candles. And daily have no strong buob pattern. Would you still enter short around 110.10 based only on the wicks on H4? And if daily close below 110.10, would you consider selling?
Hi antonym, I am only looking at buys as long as price remains above brn 110..I have levels marked out on the chart and if price just goes thru' these levels like a hot knife on butter, then these levels are suspect and I will probably change my view and follow what price is doing. Very often when a level is broken and price has travelled 30-50 pips it then retraces and test that broken level once again..taking the entry on a retest is also an approach I like and I believe it's safer .I will be looking at short if price remains below 110 following the candle that broke it, normally on the next candle if the price is not too far from the broken level, otherwise I will wait for the retest to get in..I don't know if my explanation is clear.
the cautious seldom err....C
  • #1,891
  • Apr 9, 2017 10:34am Apr 9, 2017 10:34am
Quoting antonym
{quote} I agree with you on the strong rejection. But I have some doubts. From my experience often long wick is only an indication or prewarning: it might not necessarily lead to a trend change. I would rather wait until say the APB color changes to red to sell. However if there is only one daily pin bar (instead of two), and price only rejected say, two times, would sell trade still be a good idea?
which time frame are you waiting for the apb colour to change..on my weekly and the 4 hour it's red
the cautious seldom err....C
  • #1,892
  • Apr 9, 2017 10:40am Apr 9, 2017 10:40am
Quoting pips29
{quote} which time frame are you waiting for the apb colour to change..on my weekly and the 4 hour it's red
Oh it's my mistake...Yes it's red, so I think selling is good idea.

I am wondering if you would discuss a bit on how these levels are plotted. Why are some levels plotted at the top of the wick but some are in the middle?

My current problem is having too many s/r levels drawn on my chart, there is no empty space between the level to trade.
  • #1,893
  • Apr 9, 2017 10:53am Apr 9, 2017 10:53am
charts of e/y weekly, daily and H1
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY W1 (04-09-2017 1648).png Size: 27 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY D1 (04-09-2017 1649).png Size: 35 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY H1 (04-09-2017 1652).png Size: 30 KB
the cautious seldom err....C
  • #1,894
  • Apr 9, 2017 11:02am Apr 9, 2017 11:02am
Quoting antonym
{quote} Oh it's my mistake...Yes it's red, so I think selling is good idea. I am wondering if you would discuss a bit on how these levels are plotted. Why are some levels plotted at the top of the wick but some are in the middle? My current problem is having too many s/r levels drawn on my chart, there is no empty space between the level to trade.
I plot the weekly,daily and 4 hour using the same colour which probably led to the confusion. I am just too lazy to change the colours. I try my best to have the 1 hour in magenta and the 15 min and below in orange..care to show a chart why you have too many lines?
the cautious seldom err....C
  • #1,895
  • Apr 9, 2017 11:07am Apr 9, 2017 11:07am
Quoting pips29
{quote} I plot the weekly,daily and 4 hour using the same colour which probably led to the confusion. I am just too lazy to change the colours. I try my best to have the 1 hour in magenta and the 15 min and below in orange
I see. Thank you very much for the chart of EURJPY, which clarify a lot on the break/retest idea.
  • #1,896
  • Apr 9, 2017 11:49am Apr 9, 2017 11:49am
Quoting antonym
{quote} I see. Thank you very much for the chart of EURJPY, which clarify a lot on the break/retest idea.
I forgot to point out that level was retested a few times and was rejected which make it a strong level imo
the cautious seldom err....C
  • #1,897
  • Apr 10, 2017 3:12am Apr 10, 2017 3:12am
Quoting pips29
I was just looking at this pair and thought I share this with you and possibly get some feedback...I will show charts from the weekly down to the 4 hour . On the weekly and for the past 5 weeks you will find a bullish week followed by a bearish week and this week ended as bullish..However, I wish to point out the size of the candles and this week couldn't close above last week open. Would you buy in this case? I wouldn't..on the daily you will see wicky tops for the past 2 days and price could not close above the S/R levels drawn on my chart and...
gone short as per analysis with another pending sell higher up [email protected]
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 (04-10-2017 0912).png Size: 39 KB
the cautious seldom err....C
  • #1,898
  • Apr 10, 2017 5:01am Apr 10, 2017 5:01am
2nd trade and it's a short on the loonie
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD H1 (04-10-2017 1100).png Size: 49 KB
the cautious seldom err....C
  • #1,899
  • Apr 10, 2017 5:06am Apr 10, 2017 5:06am
Quoting pips29
{quote} gone short as per analysis with another pending sell higher up [email protected] {image}
trade is looking good now . My first target is 50 pips and the second or final one at 1.406..sun is out and so I shall take a walk..bbl
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 (04-10-2017 1102).png Size: 41 KB
the cautious seldom err....C
  • #1,900
  • Apr 10, 2017 5:06am Apr 10, 2017 5:06am
Quoting pips29
2nd trade and it's a short on the loonie {image}
Watch out for the Daily 10ema
Never argue with a fool; onlookers may not be able to tell the difference.
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