Quote:
Originally Posted by mpower
Simba,
Just a few notes.
1. Congrats on the great trades. Excellent analysis and excecution.
2. Thanks for continuing to be an honest and realistic trader showing "the good, the bad and the ugly of trading"
3. Very pleased with the fact that someone is finally showing real time trades and putting patterns into action.
4. Thank you for clarifying the rules of the 2B and MSH/MSL patterns. The book is not very clear, and it gives different rules in the different examples. I think now I am clear that we use CLOSE below bar 3's low(for short) as a trigger and entry below the low of the break-out bar for MSH/MSL, and we use CLOSE below previous high as a trigger and entry below the low of the break-out bar.
Most of the patterns that you have used are reversal patterns(except the triangle and the 3 hills and a mountain) Have you looked into/are you planning to introduce Trader Vic's 1-2-3 reversal pattern? IMO it is a common pattern on all timeframes and it has a high success rate. In fact similar to the 2B pattern.
Take care and keep up the great work!!!!
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MPOWER:Thanks for your great comments,yes ,I will introduce the Trader`s Vic 1-2-3 pattern,and a couple others more,always a pleasure to see that you are back.
Everybody:1-New entry,long USDJPY@101.36 a few hours ago,PATTERN:MSL on h1 chart,should have waited for the Dragon to form,anyway the trade is still alive..STOP:H1 CLOSE below 100.63..please see chart.
2-GBPJPY and GBPCHF are ripe for either a Dragon entry long or a MSL long,will keep you posted.
3-EURUSD,EURGBP and USDCHF..ALL gapped,we will probably not take entries on these 3 pairs,unless there is an interesting retracement.
Regards
Simba