Yeah but she still won’t wear one of those waitress uniforms like Vicky Michelle.
OOoooohhhhhh, just shivered then !!
ok so just before I pop off to bed here is the daily break set up that I’ll be placing an order for on my trading platform.
Same principle as the 7-8am candle break, this time we’re just using a daily candle:
As you can see, the top of today’s range was around 1-31239 (depending on whether your using the bid or ask price). The bottom of the range was 1-3019.
So in very simple terms, if tomorrow’s price breaks above 1-31239 my buy order will kick in.
If price breaks below 1-3019, my sell order will kick in.
Whichever one gets filled, the other order will be cancelled.
Targets for this will be 20 pips either side, HOWEVER…
As we can see from the daily chart when it is zoomed out a little, should our sell order get filled, 20 pips profit would take us to 1-30, and that going by this chart is a pretty significant level. We may hit that and bounce, but should it break through, we could be in that trade for a while.
Likewise if the buy order gets filled, there’s a little bit of previous support which could now be resistance around 1-3160, which i know is above our target, but I think the daily trades would be worth keeping an eye on MORE than the hourly as they give a better chance of a bigger move.
Here’s the thing with this though. You’re stop loss on the daily is going to be pretty big with this method. Whichever end of the candle you get filled at, your stop goes at the other end, which in this case would give you a stop of almost 100 pips to try and gain 20.
Shiver me timbers HoG, have you gone mad???
This is only demo testing, I would really need to be convinced this works over the long run to throw any real money at this, but we’ll see what happens
Could you tell as to EA trading. I wanna to take part in Demo contest and looking for the best one.
Hello everybody,
Sorry to have disappeared from the thread recently, Mrs Templar’s due date arrived so I have been pretty focused on that - although I did grab some decent pips on an AUD/NZD Long this week - but I should be back to some extent next week.
Anyway, to report some happy news, just before 11am today (seven hours ago to those in a different timezone) my wife gave birth to a baby girl, weighing 7lb 11oz to those who are interested in such details. We have named her Alice Lily.
Be back soon, gang.
ST
Congrats ST! There is nothing that can beat the joy that only a baby can bring. It’s just a shame that they have to eventually grow up into people.
Told you ages ago that I hoped you and Mrs Templar had a girl as it would be so cool for her to have 3 big brothers to look after her.
Soooo happy for you mate. Please give our love to all the family, chuffed to bits for you all.
You and yunny will be starting the babypips creche soon LOL!!
Having said all that, I can’t help but smile about the story I told you when you first mentioned the good lady was expecting. I had a friend years ago who had 3 boys and he and the Mrs had “one last try” for the little girl they both longed for. Some years later he told me that one little girl was more work than the 3 boys put together.
Still, I have a feeling you’ll both love every minute of that “work” :35: Congratulations :35:
Mother and daughter both well I hope??
Evening all… so what have I missed? Congats ST! That far back I did read. Hows it going Hog? I’ve recently taken up golf bats and all is not well… ahum… LOL!!
Congrats ST best wishes for you and your family
Sorry everyone for being missing the past couple weeks. After being let go from my job I decided to take a long overdue vacay and see the country this has been the first time in a while I have even decided to turn my cell on and it has been great to just get away. I plan on returning back home soon as we got to get back to reality eventually but it has been about the best couple weeks ever just me and the world. No worries no cares. I recomend this for everyone. Will talk to you all soon
Mr carter, damn nice to hear from you sir, glad to hear also that you have taken up a more civilzed sport rather than that legalised mugging you’re so keen on.
Things ok here, studying for a (hopefully) uni course right now, that’s why I’m not on here as much, exam this Friday coming.
Trading not going so well, mat well just give it all up and aim for the seniors tour at the golf !!
Bobmaninc, sorry to hear you were let go from your job, but just as glad to hear you’ve used the time to “find yourself”. I did want to go on a voyage of self discovery myself a few years ago, but when I told Mrs HoG she said, “No HoG, that’s not called a voyage of self discovery, that’s called running away with an 18 year Polish model in a car full of drugs and alcohol !!”
I always get those two mixed up.
Glad you’ve had fun anyway mate.
Thank you!
Thanks very much, HoG and lol you did indeed!
Young Alice has already very much asserted herself on the household, she’s basically in charge…but you’re right, we’re loving it. I’m typing this with my left hand on the iPad as we’re on an armchair in the living room and she’s asleep on my right arm. I’ve become a big fan of ‘bring a baby to work’ day!
Her brothers are loving it, too, being genuinely very helpful, while I think that Claire and I are still just shocked that we had a girl - we were convinced that it would be a boy, so much so that we asked the surgeon if he was sure!
Claire and Alice are both very well, thank you for asking. It was a Section, so Claire will need a little time before returning to driving etc, but they are both ahead of expectation, thank you, and loving spending time together.
The joys of retail trading - Claire is on maternity leave until the autumn, so the three of us have months of seven day a week time together while still pulling in two incomes. Happy days.
I’ll stop rambling about my girls, now!
Thank you. And welcome back!
Thanks Bob!
Mate, for the love of God don’t let her get comfortable there. That’s how they do it. That’s how they reel you in. One minute they’re all soft and cuddly and the next thing you know they have you in their power, a puppet on a string who dances everytime they flick their wrist.
You’re on a slippery slope Templar, I fear you may have gone over the edge already LOL !!!
You’re right, I’m sure. We just returned from Buxton, where I bought her some pink clothes. Where will it end?
God only knows my friend, the only thing we may be assured of is that pink clothes are just the beginning.
The beginning of the best and most rewarding journey of your life mind you and I’m sure you and Mrs Templar will love every step of it.
Anyway, hopefully some kind of normal service will be resumed after this week. My exam is the Friday so will be officially allowed to look at charts again for more than 1 minute come Monday.
Talk soon, love to all the family
ok I know I ain’t supposed to be doing this right now so please don’t nail me to a wall for it, wouldn’t be the first time mind you I’ve done something I shouldn’t be doing.
Watch the video, it’s self explanatory. Question is simple, “When do you make the trade?”
You’ll find out on the vid why I have posted a picture under it;
[video=youtube_share;-q1sGlM0TwU]http://youtu.be/-q1sGlM0TwU[/video]
Here is the picture;
This was the subject of a trade review that I kept asking a similar question in, and the fellow did not see my question until after about 15 tries. There are a couple of things I would mention. Sometimes there are clues regarding the direction of the Fiber, that can be found on USDX. The Euro is 57.6% of the weighted average of the dollar index, so although the correlation is inverse, it’s still correlated. When this correlation fails, it can often be a sign that a currency price move is about to happen.
I think that one of the best places to enter the short which was fairly realistic, was February 6 or 7th just prior to the (the 11am EST huge bear candle). It’s the same logic you’re using, but applied to a 4h chart. There is a low made on Feb 4, which takes out the low on Jan 31st, which could have gotten some looking for bearish opportunities (in fairness, this was a little hard to see if one is not used to looking for it.) This sets up a Fib retracement for entry. I believe that this move occurred after comments were made by Draghi. However, this move was clearly set up by Commercial banking, as the Fib extensions reach very precise levels (which become even more interesting depending on which high you start the measurement from.)
Apologies that I can’t post a chart to explain more clearly, as I’m at work. Also, best of luck on the test tomorrow.
Btw… It’s a great question, and is also the answer to why I did not trade Fiber long today. There were a few good reasons to go long on Fiber, given where price was over night, and with divergence, and that price on the longer term had retraced to a trade-able fib level. However, I had not seen a higher high made on a 4H or daily, and felt that although a bull move could happen today, the market was not poised for it. Ideally it would help for me to see the Fiber take out 1.3165, but I will not require that to go long if I see an opportunity.
For tomorrow, notice how the weekly Fiber candle has a relatively small range compared to most weeks. This weeks high to low is about 150 pips. That does not mean the range must become larger, but the ranges are usually larger. The last three weeks the ranges were approx 350, 290,& 214 (forgive the math). To expand this weeks range (on the last day of the trading week) if the market trades down tomorrow, it would have to travel at least 150 pips downward before expanding on the current low and ther-bye making a lower weekly price and expanding the range. However, a bullish day tomorrow would expand price (assuming we stay close to where we are the next 4.75 hours) and we could easily see a 300+ pip week.) This is not enough for me to enter a bullish order, and I most likely won’t because tomorrow is NFP, but to me (all things equal) it makes the liklihood a little higher of tomorrow being bullish. This is the basics of my thought process regarding Fiber this week, but I’m going to leave it here as I don’t want to push things off course.
Won’t be noticing much in the way of anything tomorrow mate, other priorities. Which is probably just as well with it being NFP.
So will need to wait til the weekend to go over your reply.
Incidentally, morning trade was successful again today. Obviously way too early to be a confirmed “strategy” , but this one in particular seems to do quite well
Some concepts I like to use:
Market Structure
Inside the range
HTF S&R
Fibs
Dropping down to the 4H (I don’t know if you trade on anything lower than a Daily from your video - but take a look at that TF), you can see something like this: (click for larger image)
So, price breaks that swing low, now I’m waiting for it to get back up to that 70.5% retracement level. It doesnt make it and starts reversing at 1.36. High is formed on the Tuesday, could be good news for potential shorts. (I use the concept that the high or low of the week forms on a Tuesday or Wednesday - there are various statistics around the forum on this). Price rallys up and doesnt take out the Tuesday high, down we go.
This was a tricky one to call, we had no real conviction that MS had broken either way.
The next trading range between the blue arrows, perfect entry point given on that one (even short at the big figure 1.35 would have been a good entry). Again, Market Structure breaks down lower, confirming bearishness, no new higher highs formed above the upper blue arrow (range high).
Two very nice entry points that would have bagged a lot of pips.
Look at the other peaks/highs that formed on the way down. Combine some HTF S&R lines to see how close they get you :). You can almost visually see the levels price is going towards based on previous consolidation levels/old highs/old lows without even drawing in the lines… Lots of good opportunities for getting in short throughout that entire move down.
Very simple, yet powerful concepts. Illustrates the point of waiting, patience as always is key…
This is the sort of thing I’ll be marking up during my Sunday night prep.
Hope that helps you or at least gives you some ideas to work with…