**Steinitz** Method Revealed Here - page 31

[coolhand]

This one is for jay dee

OK jay dee, here's my chart for Monday on the gbp/jpy. I got in at the first 30 min red square. I expected the momentum to bring the price down maybe at least a little more, but it just stopped, bounced around, then headed higher. It could have just been my timing but i used the rules, the 30 min was the first red square so I went long. Closed later yesterday afternoon for +160 pips.

[fxd01]

CoolHand, can you please check your PM?

[jwjrcline]

Your GBP/JPY chart

cool hand

Nice trade & I too was in that same move, but using a different twist. I

entered when all tf's turned blue. End results for me +306 on 2 lots. Not

a bad payday either, but yours produced more. There are several ways to

trade this method, but each trader needs to use what is best for them. Is

this the HOLY GRAIL of TRADING, NO, but it will work. I do use the pivots

as you will see price does react around these levels. Pivots could be another

method unto themselves & I know traders that their methods are based

solely on pivots. Your chart is a very good example of how to trade HAS.

Tks for the post & your views.

$Trader

[jaydee]

it seems ff has a virus again i just got alert by my protection software

[fxd01]

coolhand:
OK jay dee, here's my chart for Monday on the gbp/jpy. I got in at the first 30 min red square. I expected the momentum to bring the price down maybe at least a little more, but it just stopped, bounced around, then headed higher. It could have just been my timing but i used the rules, the 30 min was the first red square so I went long. Closed later yesterday afternoon for +160 pips.

Here is the rule mentioned in Steinitz's word document (post #4 in the first page"

"1. Look at the lowest row which is the 5M TF. If the bar directly above the 5M bar is also blue you take the trade long."

I guess the same rule is applicable to going short as well. ie. if the 5M TF and 15M TF show RED, you should go short. In your chart, the 5M and 15M time frame's were showing RED. However you entered a long trade and magically that worked. I'm bit confused. May be I'm slow. Can you please explain how you decided to go long?

Thanks a lot.

[sshhmmuueell]

before

this is a picture before

[sshhmmuueell]

after

this is after a refresh

[sshhmmuueell]

before

before the refresh

i just want to get this on the same page

[coolhand]

Now I'M CONFUSED!

fxd01:
Here is the rule mentioned in Steinitz's word document (post #4 in the first page"

"1. Look at the lowest row which is the 5M TF. If the bar directly above the 5M bar is also blue you take the trade long."

I guess the same rule is applicable to going short as well. ie. if the 5M TF and 15M TF show RED, you should go short. In your chart, the 5M and 15M time frame's were showing RED. However you entered a long trade and magically that worked. I'm bit confused. May be I'm slow. Can you please explain how you decided to go long?

Thanks a lot.

The way I understand it fx, start with the longest time frame, which is 1 month, then go to each shorter timeframe until you get a different color, in my case it was the 30 min, I also check the next lowest after, which was the 15 min, which was also red. Now, the 1 month, 1 week, 1 day, 4 hour, and 1 hour are all blue, so you have to look to go long. The longer timeframes give you the general trend direction and the shorter ones will show you the retracements. One thing I have noticed on the gbp/jpy pair is on the 15 min chart, if 15, 30, and 1 hr are red but the 4 hr is still blue, go long as you are just about out of the retracement. Check the history on the 15 min chart and let me know what you think.

[sirwolf]

HAS confusion

I am also a little confused on using ther HAS method. There seems to have been variatiosn from the original wrkd document. Just want to make sure I am using the correct method. Maybe a document with chart examples - a picture is worth a thousand words.

Thanks all!