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

[SIMBA]

Originally Posted by hoss

Would this have been a valid dragon signal on the GU 30 min? Thanks in advance.

Hoss,thanks for contributing..It looks like the second leg is longer than 127% of the first leg`s length,so,if this is so,it doesn`t qualify as a Dragon(ratio of second to first leg should be from 0.618 to 1.27)..additionally the Hump doesn`t look like a 0.38 to 0.5 retracement.

Regards
Simba

[hoss]

Originally Posted by SIMBA

Hoss,thanks for contributing..It looks like the second leg is longer than 127% of the first leg`s length,so,if this is so,it doesn`t qualify as a Dragon(ratio of second to first leg should be from 0.618 to 1.27)..additionally the Hump doesn`t look like a 0.38 to 0.5 retracement.

Regards
Simba

Thank you. I understand now.

[SIMBA]

1-Hoss,you are welcome

2-New Entry:2B Short (on H1 timeframe) EURJPY @164.58..Stop..h1 close above 165.05(previous high +slippage ,etc)...Target 163.35,previous swing low.

Regards
Simba

[hoss]

Originally Posted by SIMBA

1-Hoss,you are welcome

2-New Entry:2B Short (on H1 timeframe) EURJPY @164.58..Stop..h1 close above 165.05(previous high +slippage ,etc)...Target 163.35,previous swing low.

Regards
Simba

I appreciate you posting your trades. It definitely helps with recognizing the patterns and for confirmation. This may have been asked earlier, but how man pairs are you watching and how many different time frames? I prefer 4 hour and above but I notice there are some nice ones on the 1 hour chart.

[SIMBA]

Originally Posted by hoss

I appreciate you posting your trades. It definitely helps with recognizing the patterns and for confirmation. This may have been asked earlier, but how man pairs are you watching and how many different time frames? I prefer 4 hour and above but I notice there are some nice ones on the 1 hour chart.

1-Hoss,thanks for your comments..PAIRS:I watch all the higly volatile pairs..AUDJPY,AUDUSD,EURAUD,EURJPY,EURUSD,GBPJPY,G BPCHF,GBPUSD,GBPAUD..plus Crude Oil,Gold,and a few Indexes,mainly SP500 and Dax..everything is correlated(Check late correlation between EURJPY and DAX and you will be intrigued,to say the least ),so,having a sell signal on gbpjpy while having a buy signal in audjpy and sp500 tells me that something doesn`t ring true..while having a buysignal on audusd and,at the same time having buy signals at audjpy,gbpjpy and Gold(aud has a positive correlation both with Gold and metals and with gbpjpy trough carry trade,usd has negative correlation with Gold ..so the trade is supported on both legs aud&usd))tells me the trade has potential..timeframes..D1 to m15.

2-Short EURJPY trade closed,at 6 pips profit ,154.52,reasons why:Protecting the trade..1-there was an m15 bar that moved above the previous 3 highs,approaching our entry price,so,no need to wait for price to touch our entry price(it did)..2-The move happened after a previous low penetration was rejected(red line at the chart),creating a buy 2B signal on m15 that opposed our open trade direction....see attached chart.

Regards
Simba

[SIMBA]

2 NEW ENTRIES

1-MSL Buy EURAUD @ 1.6761...Stop : M30 Close below 1.6690...Target : 1.6845/1.6935 area

2-MSH Sell AUDJPY @ 98.08...Stop : M30 Close above 99.55...Target : 95.30/96.35 area

There were similar signals for AUDCHF and AUDUSD too...

Regards
Simba

[SIMBA]

EURAUD long @ 1.6761 has been closed at 1.6670 for a -91 pips loss.

Regards
Simba

[forexmoments]

Not to be this time, but keep going mate.

[mpower]

Originally Posted by forexmoments

Not to be this time, but keep going mate.

Ditto!!!
You are doing a fantastic job Simba. I liked your post about correlation. Very true and enlightening approach. Following this with interest.

[SIMBA]

Originally Posted by forexmoments

Not to be this time, but keep going mate.

Originally Posted by mpower

Ditto!!!
You are doing a fantastic job Simba. I liked your post about correlation. Very true and enlightening approach. Following this with interest.

Ash and Stan,Thanks a lot for your kind comments.

Simba