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MightyOne
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Postby MightyOne » Thu May 14, 2009 5:33 pm


Charting 101:


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Postby MightyOne » Thu May 14, 2009 5:49 pm

Charting 101:

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Postby MightyOne » Thu May 14, 2009 6:06 pm


Charting 101:


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razorboy
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Rocking the Semafor............

Postby razorboy » Thu May 14, 2009 7:53 pm

and for those of use who lack MO's price crystal ball :)

Wait for price to break out in one direction and then see how it consolidates relative to the daily open. - (usually involves 1's and 3's) but not always

I the diagram, I opened a long position on the first low "1" green 15 minute candle that is above the daily open (129.79). I added to it on the second low "1" at 130.01 - closed at 130.79

SL on the first position was the open price

Image

Basically gives you two trades a day - just have to sit around all day.

Any suggestions for doing it on smaller time frames and I am all ears

I will post a few more of these
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

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Rocking the Semafor............part 2

Postby razorboy » Thu May 14, 2009 8:04 pm

From yesterday.

Break out to the top, but price never consolidates above the open..........

Looking for a fall..............Good entry point was the first High "1" below the daily open - go short SL is the open (131.61) - about a 25-30 pip SL - out 100 pips later.


The day previous to this, this setup failed, and it worked on monday

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Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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Re: Rocking the Semafor............part 2

Postby MightyOne » Fri May 15, 2009 2:58 am

Is there a reason why you have the grid on your charts?

razorboy wrote:From yesterday.

Break out to the top, but price never consolidates above the open..........

Looking for a fall..............Good entry point was the first High "1" below the daily open - go short SL is the open (131.61) - about a 25-30 pip SL - out 100 pips later.


The day previous to this, this setup failed, and it worked on monday

Image

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Re: Rocking the Semafor............part 2

Postby razorboy » Fri May 15, 2009 3:23 am

never really thought about it

will try without it

MightyOne wrote:Is there a reason why you have the grid on your charts?

razorboy wrote:From yesterday.

Break out to the top, but price never consolidates above the open..........

Looking for a fall..............Good entry point was the first High "1" below the daily open - go short SL is the open (131.61) - about a 25-30 pip SL - out 100 pips later.


The day previous to this, this setup failed, and it worked on monday

Image
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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MightyOne
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Postby MightyOne » Fri May 15, 2009 4:02 am

Do you believe that basic chart patterns are only for novice traders?

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My template
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Postby MightyOne » Fri May 15, 2009 4:23 am

This indicator that DeeForex modified was requested so here it is:
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BarTimer-1_period DeeForex Modified
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Postby MightyOne » Fri May 15, 2009 5:20 pm


Now explain to me how you did not shovel pips into your account on this move :shock:

Were you sleeping?

Were you expecting a higher high?

When It broke short were you waiting for some sort of
confirmation that price was going down?

Were you waiting for a retracement?

When It retraced why didn't you enter?

When It broke short again were you scared that price would retrace?

Maybe you thought that the move was over?

EXPLAIN:


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