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Azuremaster
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Postby Azuremaster » Tue Oct 20, 2009 11:36 am

pablo101 wrote:
Azuremaster wrote:
pablo101 wrote:
Azuremaster wrote:Price hit H1 ZL, I get an entry on 5m. Sl got hit-again...

You will probably say that I entered too late again...

Image


I took this one not just because of h1 zline and h1 momo but 4 hr closed red, out with small gain as I see price push higher. Now in long GU again.


You were able to close it with a gain? Wow...nothing to add.


Calling me out sir??? :shock: not scared about closing out if I see a loss on the horizon


double

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bakaender
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Postby bakaender » Tue Oct 20, 2009 11:43 am

lukx wrote:Image


This is how I did it, I only took 10-15 pips per trade, but there were plenty more available, but even 5 a day is enough.
Image

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lukx
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Postby lukx » Tue Oct 20, 2009 11:45 am

Image

bakaender
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Postby bakaender » Tue Oct 20, 2009 12:05 pm

lukx wrote:Image


I wouldn't because I only will take a trade off the H4 chart if it is back to back candles. I would look to lower time frames and take a short if any came up.

Another thing I would suggest though, like TRO says, only trade 1 pair till you know what your doing. GBP/USD is easier I than the EUR/JPY I think, but I only trade the pound.

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prochargedmopar
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Postby prochargedmopar » Tue Oct 20, 2009 12:16 pm

Image

A trendline with 3 touches is suppose to be strong.
See the black line?
Most likely outcome is a bounce......so stikky stock charts book says anyway.
See what happened?

M.O. has stated that the hugging candle that closes inside the momo candle reduces momentum by the amount it closes inside the body.....or something like that.....I see that the close of the candle at mid-point has negated some of the momo. Need to wait for price action, looks to be going up, any Green rats in the house???????
LOL

Also, It seems we are in some kind of distribution/accumulation phase and most people are waiting to see if price is gonna break up again or drop back down.

What do you see??


I f'd up and bought after g/u made it's most recent high and had retraced some.......allowed myself to be influenced by another trader (I'm a red rat dammit).....wasn't long and I was down 42 pips....doh.

After 4 trades london I'm -14.x pips but up +2% on account. hehehehe
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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prochargedmopar
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Postby prochargedmopar » Tue Oct 20, 2009 12:20 pm

prochargedmopar wrote:Image

A trendline with 3 touches is suppose to be strong.
See the black line?
Most likely outcome is a bounce......so stikky stock charts book says anyway.
See what happened?

M.O. has stated that the hugging candle that closes inside the momo candle reduces momentum by the amount it closes inside the body.....or something like that.....I see that the close of the candle at mid-point has negated some of the momo. Need to wait for price action, looks to be going up, any Green rats in the house???????
LOL

Also, It seems we are in some kind of distribution/accumulation phase and most people are waiting to see if price is gonna break up again or drop back down.

What do you see??


I f'd up and bought after g/u made it's most recent high and had retraced some.......allowed myself to be influenced by another trader (I'm a red rat dammit).....wasn't long and I was down 42 pips....doh.

After 4 trades london I'm -14.x pips but up +2% on account. hehehehe


Another note, it looks like e/j is driving itself into a corner.....when it breaks out of the triangle/wedge someone is gonna be a happy pipper......
The trend line I drew was suppose to touch the tips only...or maybe bodies depending on your perspective.

Enjoy.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

jcelano
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Luck?

Postby jcelano » Tue Oct 20, 2009 12:46 pm

Hello!

I took this trade a few moments ago and wanted to get your thoughts...

Please Note:

This trade was made by simple observation and looking at the history of the candles preceding the candle on which I took the trade

HERE'S WHAT I SAW:

I noted that the LONG CANDLE on which I entered was HUGE and looked to hit the HIGHS of the previous wicks (actually it went past)

I also noticed that none of the other high wicks actually stuck and found their point of resistance quite a bit lower

The price was already at it's highest point since late SEPTEMBER

Based on this, I scalped some pips on a retrace


The IN was a SELL Market Order and the OUT was a BUY ENTRY order to close out the position

The HIGHER TIMEFRAMES were used only to determine the the price was already at a high for OCTOBER

Here's my question:

Would you have taken the trade?
What are your thought regarding my interpretation of price acation?

I made 7 pips on the deal and could have made 15+ however I am still taking the smaller profits at this point to keep my expectations in check and not treat DEMO MONEY like DEMO MONEY

As always, thanks for your time!

James :wink:
Attachments
OCTOBERNEW.JPG
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Last edited by jcelano on Tue Oct 20, 2009 12:56 pm, edited 1 time in total.

aliassmith
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Postby aliassmith » Tue Oct 20, 2009 12:54 pm

prochargedmopar wrote:Image

A trendline with 3 touches is suppose to be strong.
See the black line?
Most likely outcome is a bounce......so stikky stock charts book says anyway.
See what happened?

M.O. has stated that the hugging candle that closes inside the momo candle reduces momentum by the amount it closes inside the body.....or something like that.....I see that the close of the candle at mid-point has negated some of the momo. Need to wait for price action, looks to be going up, any Green rats in the house???????
LOL

Also, It seems we are in some kind of distribution/accumulation phase and most people are waiting to see if price is gonna break up again or drop back down.

What do you see??


I f'd up and bought after g/u made it's most recent high and had retraced some.......allowed myself to be influenced by another trader (I'm a red rat dammit).....wasn't long and I was down 42 pips....doh.

After 4 trades london I'm -14.x pips but up +2% on account. hehehehe


Explaination on chart.
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f5c5tc.png (19.19 KiB) Viewed 1163 times
Trade Your Way as Long as It Makes Money!

aliassmith
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Postby aliassmith » Tue Oct 20, 2009 1:36 pm

A nice wick in short!
Will it continue down?
Have to wait and see.
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Trade Your Way as Long as It Makes Money!

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pablo101
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Postby pablo101 » Tue Oct 20, 2009 1:56 pm

Azuremaster wrote:
pablo101 wrote:
Azuremaster wrote:
pablo101 wrote:
Azuremaster wrote:Price hit H1 ZL, I get an entry on 5m. Sl got hit-again...

You will probably say that I entered too late again...

Image


I took this one not just because of h1 zline and h1 momo but 4 hr closed red, out with small gain as I see price push higher. Now in long GU again.


You were able to close it with a gain? Wow...nothing to add.


Calling me out sir??? :shock: not scared about closing out if I see a loss on the horizon


Well, looking at your pic, you were not in the same trade that I was in. I have entered 30-40 min later. I have been surprised how it was possible to exit with a gain in my situation.
Sorry if I am wrong.


LOL my bad :smt075
What line? The line that tells you which way you are trading! - MO

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