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  #651 (permalink)  
Old 06-23-2008, 03:39 PM
KENNETH LEE's Avatar
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Thumbs up Stage 6 again
I actually went and looked for a dash,( price that opened and closed at same price) . Did not find any. LOL

Ok I will still hold waiting on confirmation, It's done retracing.

It is looking weak, But still looking to go up a bit more possiblly.
  #652 (permalink)  
Old 06-23-2008, 05:34 PM
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The candles look to be slowing .. if this is a retracement ....this is about where it should reverse ....if the candle opens red , i would put 1 unit on....price is pulling away from sarc ...so it looks to be out of momentum.
  #653 (permalink)  
Old 06-24-2008, 11:47 AM
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Answer to Stage 6

We are now on the 4th candle after touching the upper Starc band.

It is up to you whether you would enter the 2nd amount here.

Wait for the next chart :
  #654 (permalink)  
Old 06-24-2008, 12:16 PM
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Stage 6A

Still 9 stages - just a slight modification for teaching purposes.

5 minute chart >>>


By tymen1 at 2008-06-24

Ahhhh! Did you get caught out? Or is this candle going to go up again and maybe even higher?

It is for you to choose.
The price right now with that red candle is 108.03.

Where did I enter? - that I will tell you at the end of this sequence.

2nd entries so far :

Trav72 - 108.04
Vulcan Classic - 108.04

Both averaged ....(107.92+108.04)/2 = 107.98. A profit will start to be made when the price action goes below 107.98.

Kenneth Lee - still deciding on 2nd entry.
Neboxian - still deciding on 2nd entry.
Sinn1 - still deciding on 2nd entry. 1st entry closed. Credit = -10 pips.
Keitsuke - still deciding on 2nd entry.
Ray 1 - still deciding on 2nd entry.
Ericoco - still deciding on 2nd entry.
BrianSNJ - temporary delay due to broker changeover.


So now........the question is on the chart!!

Answer to Stage 6A tomorrow.
Stage 7 tomorrow.
Last edited by tymen1; 06-24-2008 at 12:30 PM.
  #655 (permalink)  
Old 06-24-2008, 12:34 PM
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Lightbulb Stage 6A answer..
I would enter now. The last candles were looking weak and this red candle confirms, That it is slowing and possible turn down...

enter at (108.03 + 107.92)/2 = 107.975

So use to seeing everything this is hard for me.. But might be the right aproach. Forget the big picture concentrate on the NOW... We are scalping not looking for position trades.
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Old 06-24-2008, 01:18 PM
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Thumbs up
You are doing very well Kenneth Lee!
  #657 (permalink)  
Old 06-24-2008, 01:36 PM
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I'm In Now!1 unit Please
  #658 (permalink)  
Old 06-24-2008, 03:51 PM
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Il enter 2 amounts now..

I will follow Tymens advice and forget about the BB..

The price has walked the upper band for a couple of candles and slowing down.

The price also failed to get past this resistance level previously (after the star formation).
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Old 06-24-2008, 08:14 PM
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Enter now!
  #660 (permalink)  
Old 06-25-2008, 02:07 AM
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Default 2nd entry
since price action has tagged the upper starc bands and it is not walking the upper SB it tells me price is weakening therefore i would enter 2 amounts now.
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