Well that’s more like what I expected to hear, hoop-jumping and what have you, hah! I’m pretty thrifty, I think I should be able to come up with something of a starter fund for myself. I’m young, I’ve got the years ahead of me to compound it into something worth a professional’s salary. Deep down I love this working man’s path I’m on 
Thanks apache rider, couldn’t have gotten that first-hand information from anywhere but here!
There was reduced liquidity already today. Tomorrow is going to be a good deal thinner probably so could be twitchy I guess. Friday’s out altogether. UK’s not trading on Monday either so that’ll have an affect also.
As PipBandit says it’s a thin week all round. But as we’ve commented many times before, prices tend to get exaggerated & stretched in thin markets especially when they find themselves being dealt heavily one-way.
No-one wants to be long dollars this week with all the negative vibes getting tossed around.
S&P throws fuel on the fire with it’s negative downgrade comments, Eurozone hawks talking up a strong rates outlook, risk being bought all around like it’s going out of fashion…
If risk is being dealt, then pick your weapon of choice (gold, oil, silver, euro, cad, aussie….even the crotchety old cable) leg in via one of your favorite set ups & triggers & stay there until the bias tells you otherwise.
Thin markets & exuberant, aggressive psychology generally always equals one-way traffic. When technicals get driven by very strong fundamental influences you really do have to take advantage & try to remain seated.
Milk it for all it’s worth coz it rarely lasts long.
Just giving this thread a little revival. There was a great opportunity today for a trade on eur/usd off yesterday’s high/asian high. I’ll assume some others managed to grab this one as well. Great how just a few horizontal lines with a good trigger can be so effective :).
Especially if you lock into any clear directional flow on your primary timeframe, hold that average days range real close & don’t forget to keep looking left whenever you’re considering your options, you should continue to enjoy the ride.
Just goes to show you don’t really need much hardware to steer a straight line.
Do you prefer to operate under any specific type of technical conditions utilizing this strategy type RC64, or are you happy to run it across a series of technical opportunities?
I have just been sticking to Eur/Usd since I started participating in this method/thread. It has offered me plenty of opportunities to steadily grow my account. Haven’t tried applying it to any other pairs, guess I have just grown comfortable with trading the euro. So much so, that it has pretty much become like a routine.
As long as you make it your own, it sits comfortably with your risk attitude & slots neatly in place alongside your objectives then you’re covering the important bases.
If you’re content jogging on the eurusd then I agree, it’ll offer you plenty opportunities.
But the basic layout & structure will perform just as effectively across a good sweep of other pairs & instruments. It’s a neat little framework.
Last night was an AWESOME short setup.
Actually, most of the week had been up to last night. I was playing the bounces in that tight range, but had an eye on letting the short run when the opportunity presented itself. I thought we might get another couple days out of the range there, but when it’s time, it’s time:D
Why yes. Yes it is:D
Yes it caught its breath as it covered the average days range into yesterdays European close (4280). That level was of course also Tuesdays low. And then April’s lows shouldered it into the New York close.
All common, consistently reliable technical markers that form the framework of these models.
If you also had the Dollar Index humming away in the background it would have confirmed the demand above the recent s&r zone at 74.30 adding a little confidence to the eurusd follow thru.
The 1.4050 zone will be the next downside target in the firing line, whilst re-load shorts will be eyeing any relief rallies back to the channel up to yesterdays high.
That’s an intraday support Jos yes?
Because the zone at 1.40-4050 is also a 61.8% year to date readjustment of 3430-4940.
I assume that should price slip further your next likely downside level of interest would be 1.3750.
Correct on both counts. The 4050 would be a slight over extension of the days range off the Tokyo high if it managed to grow legs, but it’s near enough.
Regards your longer range level, there would be a little minor support from mid March at 3850 ahead of that 750 swing low, but that would be the primary focus.
You getting into bad habits already? 
I’d carry a wooden stake around with you or failing that hang a bunch of garlic round your neck, that usually wards off undesireables.
At this rate you’ll be quoting wave counts next, and then it’s definitely a slippery slope!!
I guess you’re going to inform me that the 3750 represents 78.6 of said calculation?
Ha ha ha. I don’t think even [B]I’m[/B] that gullible.
The only math levels that get mentioned consistently are readjustments from the really big swings. That one has been quoted since last Wednesday’s move down off the years highs.
Only reason those levels interest me is when they’re likely to line up with the usual zones you guys would typically focus in on, & coincidently the 50% of that calc hits on last nights North American close you’ve just mentioned & yes, the 78.6 lines up with 3750 which is quite a meaty s&r zone in it’s own right.
Nice to know there’s some common ground on the horizon. Thanks for the confirmation Jocelyn.
I agree. Discipline is a very important element when developing a strategy to take on the market.
What would you typically use to trigger you in Matt?
I assume the structure continues to be based around some of the concepts presented here, hence your participation.
this pulback to the area of last weeks low is what you mean about this coment Jocelyn?
the price action has this morning broke the high of yestarday but it is not being very agressive on the bullish move back up. so a short from the last week low leval at 1.4307 is a good trade odds to me. it is too a fibonaci leval of this week high to low from monday to thursday and it has alredy too reached the average range for today by tradeing at 1.4320.
Yeah, that’s the kind of thing I meant. It’s called probing & testing. Obtain a value seat then let the market go about it’s business.
I’m not sure if you realize it yet (I hope you do), but you’re beginning to shape some kind of order of priority to your analysis lately & it’s nice to see.
You got yesterdays 1st priority listing on your crib sheet being the identification of the session high-low levels (4276-4120)
The next priority will be the current weeks high-low levels (4440-4120), followed by the prior weeks high-low markers (4940-4307)
If price breaks yesterdays high (4276) on an attempted bullish push off the lows, but fails to take out the next hurdle, being the current weeks high (4440), then the bias remains bearish.
In order for upside momentum to gain traction, price has to put these immediate levels in the rear view mirror first.
If Euro bulls can’t get up a head of steam to trample the current weeks highs then bears carrying rollover shorts from last week are hardly gonna be shaking in their boots.
You have correctly & confidently identified a combination of reliable technical signals that I assume also marries up with your take on the present directional bias.
If you’ve computed acceptable risk-to-value ratios then you’re good to go.
I guess you’re beginning to realize that as long as you adhere to a proven structure based around a solid framework that you’re confident can stand up to scrutiny, then all that remains is to ensure you obtain positive risk & value & you got yourself the makings of a very workable edge.
thank to you for your post. you and you sister and colegues are always reply with helpfull coments and give to me confidance with my tradeing
i have seting up my charts as you all have presentad here.
i have the horizontel weekly lines and each of the tradeing day sessions seperatad by verticel lines to easier see the previus day action.
i decided on my primery chart as the 60 minut as it gives to me one months of data at least. and i have my secondery chart as the 5 minut with Carlls hook for a guide of possible entery’s at my confirmed levals.
for now i have put a 60 simple average onto my hourlie chart which i have taken kindly from the 3 ducks method of andy.
The slope on the average is down and the prices makes lower lows and lower highs so i look for shorts to trade on the 5 minut chart with the hook at levals advised by you all. and the same thing when the average is sloping to up
i am observeing the average range of the day always when starting my trades and also when manageing them.
it is working beter than I can ever imageine it woud.
now i love to open out my charts station every morning since i found your threds and your kind encoragement and help with this method. my tradeing expectency is now slowly rising positavly with each month that i trade useing this structeur. that is my proof of how it work for me.
Once you become accustomed to how your style & risk fits alongside your chosen method of interacting with the market, you’ll see how consistently applied structure (& the discipline to maintain it) not only breeds confidence but also ensures you have a means of measuring & adjusting your ongoing progress.
And positive expectancy is the result of a successfully packaged model.
Stay lucky!
yes Matt. Its just routine these days. Went through a tough period in the first few months last year but that has worked itself out. I regularly read the thread but really have nothing to say. Tess, Jos and Co put it better than I can. They repeat the same messages and as you know if you can develop your own strats around that you are good to go. Obviously I stuff up - I am not a professional - but it remains an entertaining hobby
Hello to you tony.
it is right what you speak about always to repeating the same message. i like this becose it instills confidance and reinforses the importence of keeping things simple and structeured.
i have much enjoyed in reading the posts of you from the very start when thes threds began instructing this method of folowing price action. thank you for all your very good work. it is inspireing to me to be a part of this threds.