wasp

Isn't it just. Even (albeit poor) jokes I have made on the main boards have been shot down! If its not trading talk here then sod off it seems! Very refreshing. The areas/levels from the 240m and 60m are unbelievably vital and just since arriving here have I realised just how much. I did dismiss them for a while due to some problems but as posted prior, its them WITH other factors that make the difference. A perfect compromise I am finding. Taking the levels from the 240m and the 60m then using the 30m for entries and stops etc is working great. One of the good things about this is the entries on the smaller TF's then get extra strength as they tally with the larger TF's. As for the action at these levels, whether candlestick patterns or trendlines and breaks from the small range etc is up to each but by removing labels and seeing what really happens there, the more time the easier it becomes to read and the higher the strike rate will get.

My post above now updated.

I'm explaining in more detail in my other post (to come) but as a quick note on this post, you are simplifying it too much. Trading off the reaction to S/R alone is never going to work unless you incorporate some other factors in there. Whether this is trends on the smaller TF's or candlestick patterns or...., you need further confirmation for decipher the reaction at these areas. IMO.

Not so good explaining this in words so tried my best to do this on the charts. I'm still learning and (trying to) improving my own analysis daily so this is just my opinion...! I've used the EURJPY for my examples. Don't be daft! On BB's everyones opinion is important as it can bring a new light on a subject and make people see it a different way. Does this incorporate anything other than the range levels? no, no, no, no, no! Don't revert to indicators! Learn why not find a why to exploit a situation. Once you understand why, the how becomes easier. Its like, I dunno, riding a bike... You can put on the stabilisers as they will keep you upright or you can leanr and understand 'balance' and do it yourself. Incorporate further analysis into these areas. For example... Candlesticks/Bars... don't look for cliche patterns but examine what happened. Say there was a huge dropping candle and that candle retraced 50%. The next one pushes down but also retraces to the start point. I am sure there is a technical name but forget labels, forget what books say, think! What does that action scream?! There are too many buyers to let this go down! You can't alwas get it right, no one can, get over it! Again, you are trying to do this purely on reaction to S/R. See the chart explanation below. Oi, he was answering my post, I'll say thanks and if comments are appreciated! Totally. It wasn't until you had your thread and dbpheonix got you to do it, did I even start myself. They are distractions. If you understand the markets and you can consistently get it right more than wrong, all the above will just take care of itself. Just beccause you have an 80% strike rate, there is no reason this should coontinue. Each trade is unique and limits from these statistics draw you away from what you should be doing. Concentrating on the action inthe next trade. I sometimes think LII or Volume would help but it is not needed. The price action explains all. There is no such thing as noise. Every tick is relevant and tells a story. The only issue personally wit smaller TF's is without pro access, you are fighting too much to profit.

Short EJ @ 163.70

Real quick one before watching a film......

:yes sir::yes sir::yes sir: I'll find some, don't you worry! Well more work is needed before commiting anything but the current state of play is not going so swimmingly anymore! Up yours! Whilst I appreciate your assistance, that response will only get 2 words from me! You can guess them too!

I imagine it is possies = positions.

I totally agree with your chart and said something similar earlier to you and even posted charts in the same vain myself but....... Yep, and took a profit, seeing resistance and cross of the trendline. That was then, this is now. Yes, but too bigger TF IMO. I have always found it the opposite :\ Yep, as above, I saw that and mentioned it but, as a shorter TF trader, you look in more detail. Take my short the other day, no hanging about and from a 240m chart (the on you posted), I wouldn't have got that so well. By definition, my entries are exits because they used to be the optimimum change in direction. Completely valid as per my attachment. So do I, you suck :o I like (did anyhow) how I trade using these combinations of S/R and TL crossovers but you are right, I do need a filter. Whilst we both came to the same conclusion on direction, when it gets down to the smaller TF's my little setup is ideal... So the filter I shall contemplate will require a slightly larger stop but hopefully fewer mistakes and that will be a break of the recent high or low dependant on direction as per the chart. Needs some looking into but it will give a more solid reasoning but just a bit later than normal.

Out for another -25 and up it goes to hit my original target as expected. Oh, and looks like it will surpass it too now! Damn these fake crossover signals. Damn me too for not SAR'ing when I was meant too! Damn it all :crap: A whole 166 pips on the week now :doh:

these trend crossover / reversals are not working so well after all......... even with S/R levels from the 240m and 60m, I'm still getting fake signals which, I can SAR into or watch continue. ATM though, its good for half the position, take a loss and watch it continue to rise... I can't put my finger on it though. The first HrL or LrH is faking it then the 2nd is right but I could post a chart where every time, the first cross is the one and any later and bye bye..... There is nothing that I can see that distinguishes the correct from the incorrect... Any thoughts............?

Couldn't resist.....! Shorted @ 163.37

T2W does it

thanks! Making the profits was so easy, I actually planned it to be multiples to give me something interesting to do!

closed long @ 163.40 for +44 taking a break.............

Only because I just move it here! No, firewalker is my bitch! See above!!!

My fault, realised it after I headed back into the garden... anyhow... If its getting slapped bout your after, firewalker is your man, those Belgians are an odd lot! :rofl:

me and FW ARE the moderators!!! I'll tidy it all up on Sundy but during the week, whatever imo

First level at 163.40 is holding off at the moment. Could be the point for a little retrace and print the higher low. Really wasp, yes wasp, ahh, cheers for that. Good to have all these FX traders here to talk these things through with. I know wasp. Exactly wasp. Bit dead in here, shall we go down the pub wasp, okay wasp, I'll get me coat.........

They do! Right, that's ****ing it........ :fight::fight::fight:

unlucky..... I am shooting for 165 and beyond! Wait for a pullback / HrL and get in maybe?

WTF are you waffling on about. It's right there in the chart I posted! It dropped steeper/better/swifter/cleaner (whatever) on the drop! :shocked:

give me 165 today and I will stop bitching!

oh I have them lines, the lines I drew were to illustrate a point is all. My point being the fact that when its in a bear phase, it don't hang about!

my issue with bull n bear markets..................