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Chapter 8, Part IV. How to apply all these lines in trading? - Q&A

Discussion in 'Complete Trading Education- Forex Military School' started by Irena, May 24, 2011.

  1. Irena

    Irena Private

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    Sive, I want to say "thank you" for your outstanding educational article and all your efforts here on Forex Peace Army! I have never seen such good and thorough explanation in any Forex educational materials and I have been (and paid for them!) through a good few. It is amazing that the best is actually free, and all I could say, again, is thank you so much!
    :):):)
     
  2. mjunkyard

    mjunkyard Private, 1st Class

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    I have to second Irena. I've read so much on forex, this is the best!
     
  3. georgeta

    georgeta Sergeant

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    W&R

    Hello Mr. Morten!
    Very clear and tradable information on this lesson. Thank you!
    Although I have some trouble recognising the W&R pattern when it happens, especialy on lower time frames like 15min. Is there any help that you can provide? Shall I be looking for a certain amount of pips to say that is a W&R or is more like an art form? Shall I enter imediately or wait for retracement? Where to put stops?
    Thank you for sharing with us!
     
  4. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Georgeta,
    Better to look at W&R in terms of time rather then in terms of pips. But compare it with the overall time frame. It should be fast return back, so that you can say that this was just a stop grabbing below the some level.
    It is very dangerous to anticipate this pattern. You should wait till the close.
    There are two possible ways to enter - right after the close of the bar. Or wait for some shallow retracement. Usually it is 0.382-0.5. Also you may enter twice, just to be sure that you will have at least half of position.
    Stop could be placed right beyond the extreme of this pattern or, at least beyond 0.786 Fib level of it.
    Sometimes market could show multiple W&R's especially on lower timeframes, such as 5-30 min charts. W&R is more reliable on higher time frames.
    Anyway - track the nature of W&R first, and all other issues second. If you see some obvious level, then see it break and fast return back - very probable that this is W&R.
    Sometimes it can look as single bar - hammer or spike. This is the same. In this case drop the time frame and look how fast there was a return back during this spike.
     
  5. broc99

    broc99 Recruit

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    tnanks

    I'd say even more. In addition to excelent content I have really grate pleasure with the language and the way of description. (I'm not an English native speaker and it's espesially important for me). Everything is clear and logically. Thank you ever so much :)
     
  6. georgeta

    georgeta Sergeant

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    pure joy

    Thank you Mr. Morten for the excellent information. It is more than I could expect.
     
  7. haz

    haz Recruit

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    Thank you Guru

    Great... Mr. Guru Morten. Thank you very much for your education that open my eyes, mind and heart. very useful for newb like me.
     
  8. jimmy.wibisono

    jimmy.wibisono Private

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    kiss goodbye

    Hi sive, would you tell me more detailed about kiss goodbye ?

    -Thank You-
     
  9. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Jimmy,
    It's a bit difficult to say "something" more detailed. ;)
    This is just a simple retest of trendline from opposite side after breakout. Very often trend (MACD) holds in the direction of breakout even market shows retracement by "Kiss goodbye". Sometimes this retracement reaches some Fib retracement level that could coincide with trend line level. This gives more confidence with level.
     
  10. steves

    steves Recruit

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    Thank you Sive

    Sive,

    I have now been following your recommendations for many months now and I agree with many...THANK YOU.

    Your insight combined with Joe's tools confirms something I have always assumed...that the market does move with an underlying sense of logic.

    I have been trading for 6 or 7 years now and what I have learned from the two of you has give order to the markets for me. I look forward with anticipation everyday of the week for you analysis for the day and the week on the weekend.

    If you ever decide to leave the army and go it alone at a cost (like Ashrafi) I will like many others be more that willing to pay for your analysis and inspirations. I think that your doing it for free is amazing and I hope and pray you are bless accordingly.

    THANK YOU AGAIN SIR!!!
     

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