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

[Lythro]

it's good to hear that you are just taking a break. I just received the book today and your thread will definately help me see if my own interpretations of the patterns are any good

[Fast_cris]

Thanks Simba,

Let's try some weeks on demo first...

Fast_cris

[mpower]

MSL long on gbp/jpy. Let's see how this will work out.

[SIMBA]

Hi,

3 new entries :

Long GBPJPY @ 202.67 SL 201.35 TGT 203.65/204.45...MSL

Long GBPCHF @ 2.0451 SL 2.0325 TGT 205.75/2.0705...MSL

Short EURGBP @ 0.7920 SL 0.7960 TGT 0.7825/50...MSH

Regards
Simba

[SIMBA]

Originally Posted by mpower

MSL long on gbp/jpy. Let's see how this will work out.

Mpower,

Thanks for posting,sometimes it is lonely out here ..I would appreciate if anybody else besides mpower posted their trades,do not have fear,the worst that can have happen is having "Tellie" at your tail..but who cares about that sour fart,You don`t owe him anything ...but you owe to yourself the right to step ahead and post your trades for public analysis,nobody is going to laugh at your mistakes besides the few ones that cry when looking at theirs

I did the trades after the gbp inflation data,gbpchf and eurgbp were late entries.

I wanted to try if MSL,MSH on m5,just after news ,gave good entries when correlated signals existed...obviously not..the trades might work,BUT,I am starting to believe that m15/m30 is the minimum requirement for a pattern to trigger a trade,even with short term cycles increasing the odds.


BTW:You have an investors password,several posts back,use it if you are following this thread and want to keep yourselves updated,I can`t post ALL trades just after they are done...so,use the investor`s password.

Regards
Simba

[Lythro]

When posting the pattern that helps you decide what to trade could you please post which timeframe you are reading it from so that i can attempt to follow.

Been looking at MSL and MSH today also but having trouble placing them. It's true that at nearly all the turning points there is either an MSL or MSH i'm just having trouble deciding which ones will not fail.

There seems to be resistance on the gbp/jpy around 203.700 expecting MSH to form in this area as it gets tested again (already forming on the 30 minute graph)

EUR/GBP confirmed MSH on one hour table. target 0.79100 area for me or reversal MSL whichever turns up first.

Looking forward to seeing your interpretations of future patterns and looking forward to learning from you guys

[SIMBA]

Hi,

3 previously mentioned trades have been closed.

Long GBPJPY @ 202.67..CLOSED @ 203.60..+93 PIPS

Long GBPCHF @ 2.0451..CLOSED @ 2.0504..+53 PIPS

Short EURGBP @ 0.7920 CLOSED @ 0.7941..-21 PIPS

I will post a detailed statement EOW,as usual,for the moment,just check the attached or use the investors password

Regards
Simba

[SIMBA]

Originally Posted by Lythro

When posting the pattern that helps you decide what to trade could you please post which timeframe you are reading it from so that i can attempt to follow.

Been looking at MSL and MSH today also but having trouble placing them. It's true that at nearly all the turning points there is either an MSL or MSH i'm just having trouble deciding which ones will not fail....Use a trend filter,today,as a test,I used 5 minutes in the msl/msh-after the news,I probably will stick to higher than m15 tfs ,preferably to H1 and H4,but have to try others to know ..suggested trendfilters:stlm2,200sma,200ema,200hma,satl..see what suits you best

There seems to be resistance on the gbp/jpy around 203.700 expecting MSH to form in this area as it gets tested again (already forming on the 30 minute graph)...Good,congratulations,that is a very good remark,you are right,this is killing area,so,I exited,since momentum stopped.
EUR/GBP confirmed MSH on one hour table. target 0.79100 area for me or reversal MSL whichever turns up first....let`s see what happens,EURGBP has fundamentals pushing it up(expected interest rates differential,ECB looks much tougher than BOE on decreasing...key word is expected),so,it is very tricky from a technical point of view,I closed the short, gbp has faced resistance at the other 2 trades,so,I closed all trades at a net profit,remember,they were higly correlated...I believe there will be a better short entry in a few hours
Looking forward to seeing your interpretations of future patterns and looking forward to learning from you guys

Lythro,


Thanks for posting your comments,please see my reply above.

Regards
Simba

[mpower]

I thought the same thing as you guys. Price missed my target by 7 pips I closed that for +90.
I use digital filters to confirm validity of the patterns. I have also recently started trading a demo using what I learnt from this thread and Simbas other threads. I really do not have time to trade it that much, but at least it is a good start. Thank you very much Simba for your valuable contributions to this community!!!!!!!

[SIMBA]

Originally Posted by mpower

I thought the same thing as you guys. Price missed my target by 7 pips I closed that for +90.
I use digital filters to confirm validity of the patterns. I have also recently started trading a demo using what I learnt from this thread and Simbas other threads. I really do not have time to trade it that much, but at least it is a good start. Thank you very much Simba for your valuable contributions to this community!!!!!!!

Thanks to you ,mpower,for contributing to the thread .

A general comment for everybody...In my opinion,Price patterns are very useful for entries,jointly with a trendfilter...in my case,I prefer to use digital filters for trendfiltering,and I acknowledge that there are many differnt valid alternatives,just choose whatever suits you best...BUT..I believe that exits are another different beast.

I believe that you need support/resistance plus a "general target area"and lots of feeling and momentum checking in order to exit well,yes,MSH/MSL do help...but they are much more usefuls at entries than at exits..IMHO.

Any comments?

Regards
Simba