Lem's Big Box O' Stuff.

[aliassmith]

OK - for a taste of things to come for those asking, here's the scalping variant, down on the T-60 chart (60 tick) and a play in the middle of the night (2 am uk) just for giggles.

Went in heavy and took an uber quick (just under) +3 pips on EU of all things.

EURUSD T-60 Chart - Scalping Variant

Screenshot 2019-02-07 at 01.55.19 - Edited.png

Out

Screenshot 2019-02-07 at 01.55.32 - Edited.png

I really should know better than to be trading on EU at stupid-o'clock but it was just sitting there, begging. Hey ho.

EU in primetime is tight enough let alone off hours.

I like what you are doing here and I am following along.

[Columba]

GU might be worth a watch. Seems to be rejecting off the 30 down. Under Kumo. Looking for top MACD to move south.

Not qualified . . . yet. Just a watch.

Current time: 1508 London/1008 NY

[LeMercenaire]

OK - for a taste of things to come for those asking, here's the scalping variant, down on the T-60 chart (60 tick) and a play in the middle of the night (2 am uk) just for giggles.

Went in heavy and took an uber quick (just under) +3 pips on EU of all things.

EURUSD T-60 Chart - Scalping Variant

Screenshot 2019-02-07 at 01.55.19 - Edited.png

Out

Screenshot 2019-02-07 at 01.55.32 - Edited.png

I really should know better than to be trading on EU at stupid-o'clock but it was just sitting there, begging. Hey ho.

EU in primetime is tight enough let alone off hours.

I like what you are doing here and I am following along.

I know - it was daft but I was twiddling my thumbs and well, idle hands and all that.

[LeMercenaire]

Just back from a day away from the screens. Unfortunately it's going to be like this for a while yet. Anyway, thanks for holding down the fort guys. I'll go check out GU.

[LeMercenaire]

GU might be worth a watch. Seems to be rejecting off the 30 down. Under Kumo. Looking for top MACD to move south.

Not qualified . . . yet. Just a watch.

Current time: 1508 London/1008 NY

Yep, that's very interesting. I'm not a great fan of set ups that come after an outlier candle but all the other signs are looking good so far.

You'd think there would be some kind of reaction to that Long Range Candle anyway - only issue we'd have is if it came all at once before we got our ducks all in a row.

Another thing to consider is that price has now closed over the 23.6 level and there is still a reasonable amount of clear air between it where we are now and the 50 level.

However...if you pull the fib down onto the last pointy place attempt, the high of this candle is exactly on the 50 now.

The smart play is to wait and see how this H4 bar closes and take it from there.

16:26 UK time.

[LeMercenaire]

The GU set up is under way. Down from the 50 level and headed toward the 23.6 and that's our next line in the sand. If price crosses, closes below and holds below, then there's a lot of space available for price to fall into.

It should be noted that this is a moderately aggressive entry, as the Upper MACD, while on a down slope and looks to be heading for a switch, it hasn't yet completed the flip-over move. This is kind of my scalper mentality kicking in, I have to admit.

[Leoheart]

The GU set up is under way. Down from the 50 level and headed toward the 23.6 and that's our next line in the sand. If price crosses, closes below and holds below, then there's a lot of space available for price to fall into.

It should be noted that this is a moderately aggressive entry, as the Upper MACD, while on a down slope and looks to be heading for a switch, it hasn't yet completed the flip-over move. This is kind of my scalper mentality kicking in, I have to admit.

Lem, How do you determine where the fib map should be placed? Is it from the swing high right before prices pierces through the ichi (trend turn) down to the point place? I have always believed like trendlines, fibs are abit too subjective. Trying to gain some perspective. Thanks

[forexhell]

Just testing if I am still locked out ...

[LeMercenaire]

Just testing if I am still locked out ...

Apparently not

[LeMercenaire]

The GU set up is under way. Down from the 50 level and headed toward the 23.6 and that's our next line in the sand. If price crosses, closes below and holds below, then there's a lot of space available for price to fall into.

It should be noted that this is a moderately aggressive entry, as the Upper MACD, while on a down slope and looks to be heading for a switch, it hasn't yet completed the flip-over move. This is kind of my scalper mentality kicking in, I have to admit.

Lem, How do you determine where the fib map should be placed? Is it from the swing high right before prices pierces through the ichi (trend turn) down to the point place? I have always believed like trendlines, fibs are abit too subjective. Trying to gain some perspective. Thanks

You're right, I admit that fibs can be subjective but not as much as trendlines, I feel. I will always run the first fib from the last significant level - in this case HIgh - down to the last Low.

I then will insert minor fibs inside that range.

You will find that no matter which initial level you use, the pointy areas will still respect them.