Quote:
Originally Posted by onwukarisa
hello stallion,
please i have some questions for you:
1) Please how do you know which time frame to do your analysis. i just noticed that at ties,
you do your analysis on 5 minutes chart, 15 minutes chart or 4 hours chart. Please what
factors
do you actually put into considerations when choosing this time frame?
2)i have also noticed that the way you choose your pattern formations vary(whether 1-2-3 top
or
bottom). in some cases,you space out the distance b/w the points 1,2,and 3. And in some
cases,
the distance b/w the points are very close? Please why is this so?
3) You sometime made mention of a hammer to me. Please if i see a bearish or bullish hammer,
what does that mean or what do i expect to see?
4) "Since a doji session represents a market at a juncture of indecision, it can often be
an early
warning that a preceeding rally(rise) could be losing steam.."
My question here is this: can a doji also tell you that a preceding fall or drop is also
losing steam?
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Trust onwuka to ask some of those deep questions...
We use what traders popularly call the TOP DOWN APPROACH..starting from the higher
timeframes(monthly, weekly, daily and four hourly), to the lower timeframes(hourly,
15min,and 5 minutes..)..As we are mainly on intraday trading,we use lower timeframes to
pinpoint entries and exits...higher timeframes are mainly used by position and swing
traders..also good for knowing the overall trend..
2..The spacing of the 1-2-3 pattern is quite irrelevant due to the fact that market dynamics
change as time progresses..trading is a function of time and space..HOW long can price
travel in a session(s)..What you are looking for is the OVERALL pattern, not the difference
in sums between the parts of the whole..
3..A bullish hammer is oulined like a hammer...where the shadow or tail is twice the length
of the real body of the candlestick..whether dark or white..it means price is pausing in
order to reverse or continue its walk..
And yes, a doji can also foretell a preceeding fall losing steam..
Quote:
|
Originally Posted by Reealjrd' pid='6695' dateline='1227339374
Market has recovered some shat. But we cannot say it a recovery because some market news say
that the market might once again show some dip. So be cautious when the market goes up.
|
Yes, we surely will,Reeal...
Quote:
Originally Posted by arranp
Hello,
How long to stay short of sterling? how long until sterling recovers?
I have a USD fund with a STG equivalent, at some point I should switch from USD into STG, I
am wondering if now is to soon.
Thanks in advance for advice.
Regards
Arran.
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'The Reaction Swing is the centre of the cycle, where you can look back and then based on
this information, determine where the cycle will go in the future.Since the Reaction Swing
is where the Action ends and the Reaction begins, it marks the centre of a repititive cycle
in which the past can project the future..
In the monthly chart below, the price movement between B and C is the Reaction Swing.
A Reaction Swing begins and ends with the lowest and highest closing prices..All you need to
know are the dates of the highest closing price and the lowest closing price of the Reaction
Swing in order to move on to the next step- PROJECTING FUTURE TURNING POINTS IN THE MARKETS
CALLED REVERSAL DATES, WHERE PRICE AND TIME CONVERGE.
Subtract the low of 1.7047(C), from the high of 1.9554(B) to get a difference of 0.2507
Divide 0.2507 by 2 (half) to get a total of 0.1254
Subtract 0.1254 from the high of 1.9554 and you get a price of 1.8304 ass the centre of the
Reaction Swing.
Place a sell stop at 1.8304.When the market passes through this price, the sell stop is
triggered and you are short GBPUSD at 1.8304.That should be around august this year..
The next step is to determine the maximum possible timespan of the trade..According to TIME
PROJECTION strategies, the Reversal date(high probability turning point of its trend) is
scheduled as from 4 to 8 months from now..Those on March futures could take mental note.
Whichever comes first...1.3090 target for our price projection or 4 to 8 months in our time
projection..whichever one comes first
Quote:
Originally Posted by kongsar168
is everyone here ever use indicator cat50fx ???
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Not sure,kong..
Quote:
Quote from trackstar:
what "method" are you using for these conditions?
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Hi trackstar,It is much of a ''method'', than it is a strategy...The CHART PATTERN
RECOGNITION AND PRICE PROJECTION STRATEGY simply tells us where price is going and how far
it might get there, to a considerable extent..
technamental wrote:
Quote:
No.. Your posts here are not collaborative. They are self promoting. I don't think
you have any intent of interacting with this forum's users on the other threads
here...
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You are quite mistaken, my good fellow..maybe there's a slight misunderstanding here...I
intract by answering comments and questions addressed in this thread..Just by reading your
posts along with others, here, shows inclusion..I'm sorry if it seems self promoting to you,
but I believe readers have a lot to gain when going through this thread,whether
participating or non participating..very educative and reveals how real life practical
trading works..no spouting of theories that brings no profits to members..Why cover the
light under a basket in darkness? The purpose and nature of light is to shine!
This is like a JOURNEY...A JOURNEY INTO THE HEART OF TRADING...A MOVEMENT...A MOVEMENT INTO
THE FRONTIERS OF OPPORTUNITIES! And if along the way, showing that trading can be a
winner's game..or something good can come out of my country Nigeria, despite all the media
negativity...if considered as self promoting..then so be it...Cant win'em all, can we?
[09:57:05 21/11/08] Stalion : hi everyone
[09:57:23 21/11/08] Stalion : so for Friday,we put a buy stop on GBPUSD @ 1.4865...1st
target @ 1.4900...2nd target @ 1.4950...3rd target @ 1.5050
[10:33:27 21/11/08] Maximus : I received the sms to late for the trade....
[10:43:26 21/11/08] Maximus : masif1 did you had the chance tp enter in the trade...
[10:49:06 21/11/08] djcarlos : i enter ... and after to 1st target hit... went out and
re-enter... and now in 2nd hit go out.... thanks Stal
[10:49:18 21/11/08] djcarlos : 80 pips in the bag
[10:54:00 21/11/08] djcarlos : The sell stop is 1.4970????
[11:12:04 21/11/08] masif1 : hi maximus
[11:12:15 21/11/08] masif1 : i did and trailing a the s/l
[11:12:25 21/11/08] masif1 : 50pips already in the bag!
[11:13:11 21/11/08] djcarlos : do you will enter the sell stop ???
[11:13:30 21/11/08] djcarlos : now is hiting
[12:55:08 21/11/08] masif1 : 3rd target hit
[12:55:41 21/11/08] masif1 : 185 pips
[12:55:55 21/11/08] masif1 : cheers
[13:15:14 21/11/08] Maximus : whatr is the sell stop????
[13:38:07 21/11/08] masif1 : it was buy stop order not a sell
[14:04:34 21/11/08] Maximus : what was the sell stop that Stalion send on the sms???
[15:37:20 21/11/08] masif1 : 10:39:43 20/11/08] Stalion : okay....sell stop at 1.4820..1st
target at 1.4785....
[15:51:44 21/11/08] djcarlos : the sell Stop of Trapping the Dragon its in 1.4970..
[16:24:45 21/11/08] masif1 : lol
[16:24:54 21/11/08] masif1 : your right djcarlos
[16:24:57 21/11/08] masif1 : good call
[16:25:03 21/11/08] masif1 : shame i missed it
[16:47:39 21/11/08] Maximus : the sell stop 1.4820 is still good or not!!!!
[17:04:57 21/11/08] djcarlos : I used 1.4970 sell stop... and go out with 170 pips
[17:05:16 21/11/08] djcarlos : Very Happy
[17:05:23 21/11/08] djcarlos : thanks Stal
[17:07:44 21/11/08] djcarlos : the trapping of dragon worked exelent..
[17:29:48 21/11/08] masif1 : what a dragon!
[17:29:54 21/11/08] masif1 : well done djcarlos
[17:30:39 21/11/08] masif1 : that's a possible 300-400 pips made today!
Quote:
Originally Posted by bertmaple
okay- a few things ive learned through the years of fxing -
go with the trend & dont try and guess when the trend is over
BUT.......
did anyone else see the USD turnaround signs? Not really a strong one with GBP - but a
perfect trendline touch on EUR, almost a double top reaction spike on CHF.
All pairs showed serious rection spikes today - without surpassing former lows/highs
Kind of like slamming the brakes on your car.
Wonder if Mon Asian market will dump lots of cash in - or wait because of light US trade
week?
Will the slow trade week basically reset all the indicators and make this one giant
bull/bear trap?
Set yr stops close ~
Thoughts?
:confused:
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Quite elementary, my dear Watson..I mean, Bert..The Doggy Style move on the GBPUSD have the
potential of yielding approximately 135 pps when we put a sell stop @ 1.4922..1st target @
1.4881..2nd target @ 1.4840..3rd target @ 1.4787...if you fear a trap, you can also put a
buy stop on the same entry @ 1.4922..1st target @ 1.4945..2nd target @ 1.4970..3rd target @
1.4995..on the bullish side..USDCHF might also open on the bullish side @ 1.2225..1st target
@ 1.2245..2nd target @ 1.2262
