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cfabian
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Postby cfabian » Thu Sep 24, 2009 4:24 pm

Thanks Pablo... will check it out.



pablo101 wrote:cfabian,

Check here for a description on key reversal day:

http://kreslik.com/forums/viewtopic.php ... y+reversal

They give a bias for the day. They don't happen often but when they work out it's great. Before I trade for the day, I always check to see if there is one.

cfabian wrote:Jedi,
Now I know it was, but based on what you tagged it as a key reversal day? Can you go a bit deeper please?

As fxtraveller I was looking for a long (didn't do so)... will post some charts bit latter.



***FX-JEDI*** wrote:
Fxtraveller wrote:I did catch the GU =]

Es/pip,

remember I was busting about catching the EURJPY big reversal short?

well, i didnt =] happened in the middle of the night in europe =[

BUT, caught the same move on GU instead =]

To me it becomes more and more evident that the most powerful Zline is at the edge of MOzone (50% of body) + BREAK-OUT.

My sell was spot-on.... its amazing.....

but apart from bragging, I chickened out early with 38 pips


Nice Entry FXtraveller.
I got GBP/USD too..bit early tho, failed to take heed of that bullish momo at yesterdays low, the 50% retracement would of been better.
Let fibs show you when to exit. tho saying that I got out at the 127 ext as I show in pics, so only got 40 pips plus last nite took 32 so still ok, but more room for improvement...

I'm starting to love this when KR days, momo, & fibs all come together..
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cfabian
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Postby cfabian » Thu Sep 24, 2009 4:33 pm

Ok, this is why I was looking to long on GU.

Daily image.
Image
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Postby cfabian » Thu Sep 24, 2009 4:39 pm

And now I have this image...

Image
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DRRRRRAAAIIN THE BAAAAAANKS !!!!!

Postby PTG » Thu Sep 24, 2009 5:06 pm

Image
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Re: DRRRRRAAAIIN THE BAAAAAANKS !!!!!

Postby es/pip » Thu Sep 24, 2009 5:16 pm

PTG wrote:Image



lol


nice

glad to see some others killed it today
Bend over and assume the position for another 4 years of hope and change.

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Re: DRRRRRAAAIIN THE BAAAAAANKS !!!!!

Postby cfabian » Thu Sep 24, 2009 5:43 pm

Looks like you pulled out ALL the pips available... congrats!!!!!

Now my questions...

1- What made you see price had turned direction? Look at my charts and you'll see a hell of held profit to the upside, and a significant bullish momo bar.

2- I also market that area for a short trade (I was sleeping though) but had I taken it would be aiming that daily line area, expecting a bounce up. But you remained till the last fraction of a pip available there without hesitation.... Why????? What did you see?????



PTG wrote:Image
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!

"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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Re: DRRRRRAAAIIN THE BAAAAAANKS !!!!!

Postby PTG » Thu Sep 24, 2009 5:43 pm

es/pip wrote:
PTG wrote:Image



lol


nice

glad to see some others killed it today


:D

Higher timeframe led the way yesterday evening (CET)

Effin' UNREAL this. UNREAL. A s/l of 11 pips, and it went only 2 pips against me :shock: :lol:

I've now had a couple of these, but this was the biggest so far. Patience is the name of the game.

Thanks to TRO, MO, you, many others who post their trades here and especially Dragon. It's finally beginning to pay off ! :mrgreen:
Last edited by PTG on Thu Sep 24, 2009 6:15 pm, edited 1 time in total.
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Postby Fxtraveller » Thu Sep 24, 2009 6:01 pm

PTG,

It baffles me as well the precision of trade entry that the MO methods provides....

I thought that "scaling in" was a very good strategy... now it is being made redundant, since price goes no more than 5 pips against any properly entered trade =]

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Postby PTG » Thu Sep 24, 2009 6:10 pm

Fxtraveller wrote:PTG,

It baffles me as well the precision of trade entry that the MO methods provides....

I thought that "scaling in" was a very good strategy... now it is being made redundant, since price goes no more than 5 pips against any properly entered trade =]


Yeah. The precision is almost beyond comprehension. If you have the patience and guts to wait for these fine trading opportunities and NOT accept ANY trades that do not conform to that requirement of a low s/l it's party time for those trades that do because of the low risk-reward ratio and therefor the high $/pip. It is only time before the next one comes :lol:
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Re: DRRRRRAAAIIN THE BAAAAAANKS !!!!!

Postby PTG » Thu Sep 24, 2009 6:35 pm

cfabian wrote:Looks like you pulled out ALL the pips available... congrats!!!!!

Now my questions...

1- What made you see price had turned direction? Look at my charts and you'll see a hell of held profit to the upside, and a significant bullish momo bar.


Thanks. I haven't shown you all the mistakes and stupid errors I've made so far, so please don't overestimate the situation here :wink:

If you look at H4 you could see the price reverse and make a bear momo. That is the time to investigate H1 and look for a short. Higher timeframe is prevalent, that is the direction where held profit is eaten up.


2- I also market that area for a short trade (I was sleeping though) but had I taken it would be aiming that daily line area, expecting a bounce up. But you remained till the last fraction of a pip available there without hesitation.... Why????? What did you see?????


The exit is dictated by the shear force with which the sucker went south and that should warn you that it's better to look for a sensible point to get out on a higher timeframe. In cases like these there is a big mass behind it, like a snowball getting bigger rolling off the mountain, taking away everything in its path :shock:

I see trades like these oftentimes happening in two steps. In fact, one should have stepped out midway to re-enter at a better price and get more..
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