Don`t read this thread..Make Money with it.

[frantacech]

Hi Simba,
Excellent trading lesson for me. Thank you very much!

Regards
FC

[SIMBA]

Originally Posted by frantacech

Hi Simba,
Excellent trading lesson for me. Thank you very much!

Regards
FC

Hi Frantacech,

Long time no see,hope everything is going well with you .

Thanks for your kind comments.

Regards
Simba

[mpower]

Originally Posted by SIMBA

Hi Frantacech,

Long time no see,hope everything is going well with you .

Thanks for your kind comments.

Regards
Simba

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!!!!

[SIMBA]

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!!!!

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

[SIMBA]

USDJPY was closed at an h1 close below 100.63,exactly at 100.60 for a-76 pips loss...we will reenter long IF there is a breakout ABOVE 101.03..for a 2B pattern...

Gbpjpy and gbpchf still didn`t trigger,though GJ could be forming a potential 2B pattern,and there is a possibility to catch a dead cat bounce short both in eurusd and eurgbp,if this happens,I will explain the pattern and the entries.

Regards
Simba

[mpower]

Hi Simba,
Looks like a 2B pattern on M30, and a 2B on H1 in the making on gbp/jpy. Is this correct?

[SIMBA]

Just entered a long gbpjpy @198.77,PATTERN:2B on m30..STOP:M30 close below 197.95(previous low less slippagge )..Target :to be decided in the 200.50 to 201.85 area.

Regards
Simba

[SIMBA]

Originally Posted by mpower

Hi Simba,
Looks like a 2B pattern on M30, and a 2B on H1 in the making on gbp/jpy. Is this correct?

Mpower,looks like we had the same idea at the same time ..yes,correct,the h1 in the making the m30 already triggered.

[SIMBA]

New Pattern: Dead cat bounce(DCB)

1-GAP

2-MEASURE GAP DISTANCE WITH FIBO 0 TO 100

3-IF RETRACEMENT TO 50%/61.8% AREA

4-A-IN CASE OF DOWN GAP(UPRETRACEMENT)..SELL BELOW OPREVIOUS BAR LOW..once price is in the retracement area

4-B-IN CASE OF UP GAP(DOWN RETRACEMENT)...BUY ABOVE PREVIOUS BAR HIGH...once price is in the retracement area

5-STOPS:FOR SHORTS:ABOVE TOP OF GAP..FOR LONGS:BELOW BOTTOM OF GAP

6-TARGET:LENGTH OF GAP from point of entry.

My Comments:1-Officially the DCB requires a gap move of about 15% of price,this for some stocks is ok,not so for Forex.

2-Stops:Many gaps close, the top or bottom of gap are touched,THEN price continue in the original gap direction,so,I prefer to use stops at bar close above previous high or below previous low.

3-Targets:there could be alternative targets that are valid too, like nearby support or resistance areas.

NEW ENTRY:Short EURGBP @ 0.7996...DCB on m30...STOP:M30 CLOSE above 0.8040...TARGET:0.7875/0.7905 area

Please see attached chart.

Regards
Simba

[SIMBA]

Long (re)entry USDJPY @ 101.04..2B PATTERN ON H1 ..STOP:H1 CLOSE BELOW 100.35...TARGET:102.05 TO 102.95 AREA

Regards
Simba