RandyCandles - Information - page 18
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you've been on the forum a lot longer than i have. Still a newbie? I learned this method by trial and error, experimenting with various indicators and TF's. Perhaps, you should do the same.
Agreed! There is enough info in the thread to get started. I just found it 3 days ago and have already gone 4 for 4 on trades in demo. A total of 73 pips in those three days. I am just using PA and Pivot points on the 5 minute chart. I have seen in the last few days (just by looking at charts) that a pin bar bounce off of daily support will often be followed by a safe to trade alert candle. I think this method could be used just as well on the longer time frames, as I did let one trade I took on the 5m run after I confirmed a Fozzy cross on the 4h.
Anyone catch the move on E/J early this AM. I woke up at 2:30am est time to catch the london open. But there did not seem to be much movement, so I went back to bed and missed the breakout after 4am. Oh well. Catch another wave tonight after work I am sure.
I was not referring to myself, I'm talking about newbies; your posts say very generic things, was just a simple request to try to be specific.
you've been on the forum a lot longer than i have. Still a newbie? I learned this method by trial and error, experimenting with various indicators and TF's. Perhaps, you should do the same.
Dinapoli Lines
Another observation----
For those of you using the 7 sma shifted 3 I have observed that when an alert candle forms and price moves above or below the 7 it will follow that sma until the trend is about to end where a candle will open above and close below on a short trade or open below and close above on a long.
Using that patter on todays g/c I opened trades in the blue rectangles where the alert candle is shown by a green arrow and closed the trades at the red arrow.
Also saw the same patterns on e/j and u/j today.
Another observation----
For those of you using the 7 sma shifted 3 I have observed that when an alert candle forms and price moves above or below the 7 it will follow that sma until the trend is about to end where a candle will open above and close below on a short trade or open below and close above on a long.
Using that patter on todays g/c I opened trades in the blue rectangles where the alert candle is shown by a green arrow and closed the trades at the red arrow.
Also saw the same patterns on e/j and u/j today.Thanks for the observation ITguy! Well, I am liking this method so far! In 4 days I went 6 for 6 (not bad for working full time too) for 97 pips on a demo account. With discipline and chart time this could turn out to be my chosen path. Thanks to all who brought this thread to life. Summit and IT, thanks for all your contributions!
*****Oh, I forgot to add that this was only trading one pair......E/J
Chris
Here's another I just opened on e/j 5 min chart. I find that switching between 5 and 15 min chart gives me a real good feel for where price is headed.
It really doesn't get much easier than this folks!
hello
Another observation----
For those of you using the 7 sma shifted 3 I have observed that when an alert candle forms and price moves above or below the 7 it will follow that sma until the trend is about to end where a candle will open above and close below on a short trade or open below and close above on a long.
Using that patter on todays g/c I opened trades in the blue rectangles where the alert candle is shown by a green arrow and closed the trades at the red arrow.
Also saw the same patterns on e/j and u/j today.could you please post fibo indicator on your chart
I also like to flip thru various TF's. On a side note, the carry trades seem to move with the NYSE moves. Last night, Goog posted less than stellar results and perhaps the Dow is selling off today as a result of this and other things but nevertheless selling off-down -108 points. The EurJpy starting selling off almost exactly at the same time as the opening of the NYSE. Another great time to trade this pair. I was waiting for it at 9:30 am.
just trying to help and give back a little....
If you don't know about the following formula-
USDJPY X EURUSD = EURJPY
This chart shows why the plunge just happened.
Out for the weekend--gotta love this "job"