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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 29, 2009 7:49 pm

1. price makes a new daily low
2. price does not move lower on the next candle
3. Enter 20 pips from the low
4. Exit reverse if given a signal to trade in the other direction.


Image

With the right tool, it is simple to see when price makes a new daily/weekly/monthly bottom and is within 20 pips.

What is the trigger for #4?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 29, 2009 10:32 pm

Image

This may be more along the lines of what MightyOne is thinking.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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noone22
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Thanx for sharing and good luck!

Postby noone22 » Wed Sep 30, 2009 12:47 am

MO
Thanx for sharing and good luck!

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MightyOne
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Postby MightyOne » Wed Sep 30, 2009 2:39 am

A little like this:

(Deleted-All my pictures look like skah-tah)

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MightyOne
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Postby MightyOne » Wed Sep 30, 2009 1:00 pm

Spent some time giving live training via Google Talk on the GBPUSD 30 minute chart.

I showed why and from where the market was starting turn and called the reversal from the highest price because of fake BO and run on the stops after reversal signals and lower close.

The result was an 85 pip drop

No trades placed on micro unfortunately :(

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Postby flossnhoss » Wed Sep 30, 2009 2:18 pm

MightyOne wrote:Spent some time giving live training via Google Talk on the GBPUSD 30 minute chart.

I showed why and from where the market was starting turn and called the reversal from the highest price because of fake BO and run on the stops after reversal signals and lower close.

The result was an 85 pip drop



Just want to make sure I understand that statement... see picture below please.


Thanks

Image

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MightyOne
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Postby MightyOne » Wed Sep 30, 2009 2:30 pm

flossnhoss wrote:
MightyOne wrote:Spent some time giving live training via Google Talk on the GBPUSD 30 minute chart.

I showed why and from where the market was starting turn and called the reversal from the highest price because of fake BO and run on the stops after reversal signals and lower close.

The result was an 85 pip drop



Just want to make sure I understand that statement... see picture below please.


Thanks

Image


No, that whole leg was missing 1 thing ---> A LOWER CLOSE!

After we got the lower close (which by the way was also momo) what happend?

A fake and reverse to stop orders...
and then of course the real move.

Yet another example of high(er) time frame analysis being king and small chart entries being queen.

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Postby flossnhoss » Wed Sep 30, 2009 2:56 pm

MightyOne wrote:
No, that whole leg was missing 1 thing ---> A LOWER CLOSE!

After we got the lower close (which by the way was also momo) what happend?

A fake and reverse to stop orders...
and then of course the real move.

Yet another example of high(er) time frame analysis being king and small chart entries being queen.


Hrm, okay... looked to me like the green bar closed a pip or two lower, but I guess that's not what you meant.

Could you please draw me a picture?

Thank you.

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Postby flossnhoss » Wed Sep 30, 2009 3:04 pm

... or perhaps a picture isn't what I need. Maybe just an explanation on how you called that a fake out, and not another real break out.

That's the part I don't understand.

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Postby flossnhoss » Wed Sep 30, 2009 3:10 pm

My second, and final answer :wink:

Like I say though, I don't know what would tell you this is turning? Just the lower close?

Thanks!



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