Yea it does so are all the crosses. I'd approach carefully as this could go either way depending on who wants Yen versus who wants dollars. Probably best to stick to the crosses but aren't for the faint hearted.
Don't short this beast! I really haven't trade this for the past week. I mean if you want to short at these levels put a stop at 1.5010 with a limit of 1.44 or lower. Your stop will probably be hit quickly and painlessly.
Ayo, I think wave C you are talking about is a bit more complex than a-b-c. Something like that
Ahhhhhhh Mannnn, why you go there? That means more work. But how is Neo going to get a 'E' above w1, this count is iffy for me unless wE stops short at a 38.2 or 61.8 measurement, and thats after stopping short of wB@1.51ish. Wave f-g has made me curious though. I'm going to pull out my ruler because wC of D should be easier to track. I don't like the impulsive nature from w-b either, thats why I slapped a WXY on it(its plenty of 3s in that mess). Otherwise an extension above 161.8 of w1 of C could spell something else?
Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'
Stryker: thanks this has been one of my grouth periods in forex. been constantly working the patterns weithere its up or with the big picture in front of me , even that changes as we collect data.you have a gift of boldly saying where the market most likely will go. i can show it on charts but as soon as i open my mouth & say this is it , market makes a total fool of me.so even if i know in my heart, i still cant speak it out. but charts will give keen eye a picture.( knowing in forex things can change quickly ) enjoy your work.
Thnx man.. must have been getting lucky i guess... I was not expecting a move beyond 4760 as the last 2 times chopper Ben spoke and hardly moved the mkt. the movement was carried out prior to his speech.. Nevertheless the 4 hrs channel been spotting whole last month finally gave way to the north side as expected..
Higher tgts now points to much higher euro but not to get into it rt now.. Perhaps some consolidation and if lucky we have a new channel develop to trade it accordingly..
As for now for EU the 4860ish should be achieved out and a possible retrace could kick in.. but now we are in new territory ( but we know where this could head out eventually... TO AYOO's to the mooon...................)
few charts and dying to see if EC on 30 mins could touch the upper band around 2990-3000 today.. 2910 is supp on EC and euro is from 4 hrs as shown on the chart... it is only the immediate supp ....
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
t3t4: pretty neat, what kind of risk reward is build into the system. thanks
Risk is user defined now as per a recent update to the trading station. The auto trading built into TS2 is all that I have used with my live account for at least a year now. It's that system that I've shown and mentioned, but I did a whole segment on this about a year ago. Apparently, I'm one of the few that actually use automated trading. But I'm only using the same thing you guys already have. Back-test it if you like. The new TS2 has had that capability for a while now.
As per some of my back-test results, I've been able to take $100k and turn it into just over $5 million inside of 3 years completely automated. Now this was the best result I was able to achieve, and some of my tests resulted in a loss over that same time frame. But here is an update on a real live auto trade. I did nothing to make this happen except hit the start button and walk away! You can see the dates for yourself in the pic below.
So try it out if you like, do your own back-testing and love it or hate it. But for those of you limited on time and/or desire to make love to a computer all day long, auto trading kicks butt!
Happy Trading,
t3t4
P.S. the above pic is a 100k lot, and as you can see there is no stop. The system will take me out automatically, unless my computer blows up or I loose electricity. I'm not sayin but I'm just sayin, if you know what I mean....
looks like one of those deals where we drift up till all stops are taken out.on 15 min i got AUDUSD & EURUSD x5, 5, v . AUD trying to punch thru gann line, if so then maybe 1.0980 area. EURUSD 1.4889 area. well as i was typing AUD punched thru.
t3t4: lets say i want to trade EURUSD 30 min chart. system will decide what tools to use & continuously have me long ,short, or flat.
Good question and simple answer...
The systems name is; MA_ADVISOR and yes, it will decide for you based upon what you tell it to do, long, short or otherwise. Just a word of caution though, a 30 min time frame is as small as I would ever go using this strategy, and that's "with" you checking in every 2-3 hours! To play my game you need deeper stops and "way" more time laps.... The one hours set up works well for those of you going to and from work everyday. You simply check it in the morning and then again in the evening. But you can do well on a 30 min chart if you want to baby sit. That's all I'm saying. Shorter term for shorter term, longer term for longer term, you decide anyway you like but don't expect the results to be the same in either or any case.... Time is your friend with this system, but it is also your enemy. If you go too short on time then you have to decide when to take profit, whereas, if you go too long on time, you don't loose money but you do give too much back!
It's a very simple set up and it's purely technically based, but how you do verses what you do, it's always a user call to make. Me personally, I let the MA_ADVISOR make the call. Right now I'm up over 250 pips on a 4hr set up, and I know I'm about to give at least half of that back, so why don't I close out my position now? I won't close out now because it's too hard to get back in a winning trade for one reason, and I'm not talking about 20 pips! Also, I won't close out now because I'm feeling confident (not cocky) about 1.5000 and so my trusty MA's will either keep me in or take me out until that point.
Hope this helps explain a bit more, but don't hesitate to ask if you've got a question.
This is a long term channel on my 4hr chart. I haven't been trading this much lately. But this reminded me of one of Ayo's posts about, the Kiss Of Death.
If I remember right, he explained KOD is where price drop down to the bottom of channel then back up to retest the top of the channel. On this chart it seems to have done exactly that. But only once. In this scenario, price has kissed the bottom once and never since, but when it did, it retested the channel resistance line. If she goes 2 for 2 and hits the top, I'll look for a short.
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Originally Posted by nopainnogain
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