Don`t read this thread..Make Money with it. - page 10
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Are we to see you performing standup at any comedy club soon?
The first rule of comedy is not to perform in a town where they still point at aeroplanes
..
hi
She wore a short skirt and a tight sweater and her figure described a set of parabolas that could cause cardiac arrest in a yak.
She was a blonde.A blonde to make a saint kick a hole in a stained glass window...
BEGGAR:Would you give me 25 cents for a sandwich,lady?
LADY:I don`t know...let me see the sandwich25 cents = sandwich ??
===================
Forex Indicators Collection
The first rule of comedy is not to perform in a town where they still point at aeroplanes
Or in a town where a man introduces you to his wife and sister...and there is only one woman standing beside him.
Town
Or in a town where a man introduces you to his wife and sister...and there is only one woman standing beside him.
Then,definitely,you won`t see me there
New Pattern:3 Hills And A Mountain
A rare but very reliable pattern,with a close relation to Elliott wave theory and to Fibonacci extensions and retracements for key support and resistance areas.
The pattern has 2 trade setups: One short and one long...Actually it is 2 connected patterns.
First Pattern:Uptrend with 3 consecutive higher upswings,separated by retracements of a minimum of 50% to 61.8% of the previous upswing..so,we have 3 upswings and 2 downswings....the 3 Hills...After completion of the 3 Hills,draw a trend line connecting the lows of the downswings...
Short entry:A CLOSE below the trendline triggers a short entry.
Stop:Slightly above the highest top..usual,plus spread and slippage.
Target:62% of the distance from lower low of the 3 Hills to higher high(let`s call it AB).
Second Pattern:After completion of the 62% retracement,there is a reversal to the upside which rallies from 100% to 127% of entire 3 hills range(AB)..The Mountain...
Long Entry:Entry long at the 62% retracement...once touched,at above the previous bar High.
Stop:Slightly below 62% retracement low(let`s call it C)
Target:100% to 127% of AB..from C( D in the atachment)
My Comments:
1-The second trade(long) has much better reward to risk than the first(short),and,since it is the completion of a rare pattern,probably has a better probability of working too....So,focusing on this second leg can be a valid option.
2-I have seen retracements(not necessarily of this pattern,but of sequential highs) reach the 78.6% level,they usually stop in the 61.8% to 78.6% area,not necessarily at 62%,so,I would modify the entry and stop rules to take this possibilty into account,personally,I would use a CLOSE below the 78.6% level as stop..and would enter after prices have penetrated the 61.8%
to 78.6% area and then ,either at a CLOSE above the 61.8% level or at a CLOSE above previous bar high.
3-In case of taking the first trade(short) I would like to see at least 1.5:1 reward to risk,including spread and slippage..and ,once minimally profitable,I would move the stop to break even.
Sidenote: Did you notice the embedded Dragon pattern at the attached chart?
Regards
Simba
New Entry
Dragon long entry for gbpjpy m5...see attached chart..entry long @197.57..stop is approx at 60 pips distance and target at 100 pips distance,with an approx reward to risk ratio of 1.66:1..I will handle this trade with the stlm2 digital filter..on several time frames,and the stop,if necessary,on bar close,so the actual exit might be different from the "plan"...;)
Regards
Simba
Trade result=+68+34=+102 pips
Trade was closed at 198.25,for a 68 pips profit,after several hours infructuosly trying to breakout previous highs...Additionally at 17:54 there was a short term countermove,detected by checking both m5 and m1 STLM2,so we temporarily(11 minutes) hedged the position for an additional profit of
34 pips,for a total of +102 pips...see attached detailed statement,last 2 trades.
Regards
Simba
Good trading. I may have to eat my shoe soon.
New Pattern&new Entry 2bpattern
2B PATTERN SHORT: Uptrend,prices penetrate previous high,fail to carry trough and drop below previous high
Entry: Sell below low of breakout bar(see line @1.7195 in attached example).
Stop: Above,usual:spread+slippage,previous high.
Target: Previous swing low,or previous support area.
2B PATTERN LONG: Downtrend,prices penetrate previous low,fail to carry trough and raise above previous low.
Entry: Buy above high of breakdown bar.
Stop: Below,slippage etc,previous low.
Target: Previous swing High or previous resistance area.
My Comments: 1-In case,as in the attached example,the breakout bar distance from close to lows is too small I prefer to wait for the penetration of the following bar low(high for a long)
2-I personally prefer to use stops at bar close above/below previous high/low,and to move stop at breakeven or take partial profits once in the move.
3-I prefer to use ,besides the targets indicated above,Fibonacci ratios of previous move,usually coupled with digital filters(stlm2 mainly),so,if the market is around the 50% Retracement area and the stlm2 of several timeframes turn around,I take profits .
See the attached example,with a very recent entry, for EURAUD D1.
Regards
Simba
New entry:short XAU
New entry,pattern used :MSH..modified,if you see the attached you will see at the left side ,red candle with a spike that created a potential support for prices,I entered at breakout of that support instead of entering at breakout of third MSH bar low..
Trade:Short XAU(spot gold vs usd)@900.30
Regards
Simba