didn’t mention it? No he has mentioned it, however its also possible he didn’t know the importance of S/R levels and candlestick patterns … yet.
thanks for clarifying Master Tang, I was under the impression price crosses weekly open from beneath Tues through Fri = enter long [U]provided [/U]the daily open is below the weekly open
and similarly
price crosses weekly open from above Tues through Fri = enter short [U]provided[/U] the daily open is above the weekly open.
thanks for the clarification
Budda bless u
Actually, he used some references to candlesticks. He watched the wicks, and body sizes. He just didn’t look for hammers or dojis.
As for support and resistance lines, there’s a more more than likely chance the weekly open naturally falls around one.
The explosive move up or down through that line is what makes the system function. Couple that with one way trading, and smart money management, you have a recipe for success.
Funny how that works innit?
I don’t use his system, I do my own thing, but it was interesting to see another uncluttered approach.
I don’t think anyone uses his system and i don’t think anyone who used his system lived to tell the tale.
Budda bless you O great one
very interesting end to a 28page thread i was starting to like. bam page 29 people say he is banned and offtopic posts come in.
Neat idea extraction i enjoyed the thread
What I sees is dis seems like what happens is a new feller comes to town and has some ideas and starts tellin folks bout it. Den when happens is if a bunch of peoples start a listenin to the new feller some olds peoples get mad bout it and den dey start a pickin on da new feller and if he fights back dey run him out a town.
Dis xtraction feller ain’t really do nuttin bad but some peoples didn’t like all the attention he was a gettin so dey gave him a bad time but xtraction argued like a city slick lawyer and gave em a good word whoopin dats for sure. Dat boy xtraction ran word circles around dem old peoples. Me and da boys just sat back and got a good knee slappin laugh. We alls knew dat de old peoples were gonna git all mad and close the forex store cause dats what bullys do. Dey been doin it for years and is gonna keep on doin it cause no one gots the gumpshin to stand up to em. Dats jest the way it is.
What ever happened to dem fellers dat was a ridin’ with xtraction? Used, A8T and Apache Rider seemed to be his pardners. Now dey is scarce. Dey must have gotten run off. Dang dats too bad.
Yeah, I see they got banned for the same reason… oh no wait, they didn’t get banned did they! imagine that!
No, I reckon dey jest scared to come back.
It jest seemed you alls were kinda hangin out in da same spots and kinda defended each odder. Hadn’t seen you in dese parts since they killed off xtraction. Thought maybe you might have spoke up in his defense.
I would be ins agreement.
I have been out of touch for the last few days as I had some major upgrading done to the computer. I am sadden that xtraction is banned as I have seen a lot worse “repartee” in the past in other threads. I suppose admin is taking another look at the policy and cracking down.
I was reluctant & timid about trying this strategy because I had grabbed by the horns TRO’s “All you need is a horizontal line” and lost my you-know-what. Xtraction’s however has more that just a candle crossing a 1H TF. I am still going to use this strategy and hope that used, apache, et al keep on posting although what more can be said about such a simple idea. Good trading all (I’m waiting until after Jan. 4th), d.
If you watch carefully what other experienced traders in this site are doing, you will find that it´s extcacly same thing. Enter flat top/bottom daily candle 2:1 boll, it’s daily open!:rolleyes:
You will loss your you know what again if you trade this like you did TRO’s strategies. TRO’s horizontal line and this are very similar in that its the open trade management that makes you money not exactly when you open.
I like this more. I think the price points talked about in this method are points that have a higher volume around them than a random H line. Volume means its more likely that some momentum might build. Just some thoughts I have actually traded this very little. 
Dont know what you are after, just make a point
It’s been a long time since I traded TRO’s Horizontal Line but if I remember correctly one was suppose to have lines at every xx.00, xx.25, xx.50, & xx.75 and so on. It didn’t take long to realize that a candle crossing a line wasn’t the most significant part of price action. At least this strategy points me towards the Daily Open after crossing the Weekly - a big help for me. I’m looking forward to Jan. 4th. d.
Why does TRO get blamed for so much here on BabyPips? From what I can tell, he has been banned for over a year. It seems like all someone has to do is yell TRO and threads get closed and people get banned. It’s almost a new year, don’t you think it is time to give it a rest?
I thought I was discussing a strategy that didn’t work for me and on that does - pardon the intrusion. dobro
No pardon is necessary.
Some people on here can’t even read before they open their mouth. :rolleyes:
[I]I realise you only prefer to enter long trades as they move into your bargain area’s, but could I use the weekly open as my fulcrum level & trade short as well as long through the fulcrum level?
[/I]
Glad to have “sparked your interest”. Calling this thread “fascinating” may be pouring it on a little thick. Nothing ground breaking here. The fascinating part to me is that the majority of traders are not trading in a similar fashion. Instead they are like dogs chasing whatever car happens to drive by next. But as I posted elsewhere, they can’t help themselves because their brains are wired to respond that way and they do not know it.
You can trade the weekly open whenever the price crosses over in the direction of the daily flow. There are always exceptions to that rule but better to pass on those for now. The majority of my trades are long[B][U] but there are times when I can plainly see going short will most likely result in a profitable exit.[/U][/B]