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FOREX PRO Weekly June 04-08, 2012

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Jun 3, 2012.

  1. Triantus Shango

    Triantus Shango Sergeant Major

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    damian, re. the trade you mentioned as an example, i just would like to make the following observations:

    regardless of whether or not there is a K-area:

    1- if you use the bollinger bands, and price is still walking the band when reaching whatever K-area or agreement or whatever level someone believes is significant, then stay with the trade or at least do no initiate a contra-trade;

    2- observe (1) if price has not crossed MACD Predictor yet;

    3- if price is starting to drift away from band std dev 3 or 2 towards band std dev 1, start getting ready for a possible swtich in sentiment/direction;

    4- if price crosses MACD Predictor and continues to drift towards mid BB, or if mid BB is reached and then price crosses MACD Predictor (even better) AND other TIs such as DPO or slow Stoch also show a turn in direction, then start thinking about initiating the trade BUT

    5- always by taking into consideration the price's position relative to 100 and 200 MAs and key fib levels (this defines a risk context), meaning that if price is walking the band, for ex., but finds SPPT or RSST at 100 or 200 MA, consider initiating a trade AS LONG AS other TIs and fib levels paint a picture that makes sense; trade risk at that point is well defined; if wrong, then continue walking the band.

    had you done this, you would have let it ride 'til 253x, then reversed from there.

    i cannot emphasize enough how important and useful bollinger bands are. cheers.
     
  2. asif faryad

    asif faryad Sergeant

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    Hi Rashidin,

    I am always watching on this Forum as an obersrver :) most times... As my trading 90% is based on psychology and 10% on my own system which is a combination of Sives anyalis (My edge) and my own observations of price action based on fib levels..It works pretty good,but i do not once i am in look at to many views etc expressed as at a sub consciousness level can make you alter a trade,so its part of my trading plan that once in i look at doing other things and check back just to manage the trade a few days later.. or the trade manages it self by the S/L i have put on but this happens but not that much on my trading plan as S/L are fairly high based on the monthly chart.
    As also i have moved and spend a lot of time travelling setting up new home..

    Also my trading is extremely a very simple trading plan based on myself as a trader... I am not a scalper (As found chasing 20/30 pips to stressful) I trade on the monthly time frames to dertimine my edge and look at the weekly depending on how the trade is developing to manage my profit which i have detailed on Damians post..

    Asif.
     
  3. MidnightRun

    MidnightRun Sergeant

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    Triantus,
    Do I get it right that you have several sets of Bollinger Bands with different standard deviations?
    Thanks
     
  4. Louis123321

    Louis123321 Corporal

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    Asif, Sive, I would really like to hear your take on the current situation on EURUSD. Up or down? Detailed. ;)

    I say up to 1.26, 1.262/3 max, before real downtrend will continue, this only seems like logical next step, as market did stop at valid confluence level which is only just below 1.24450 and it's also even trying to push back up to 1.24450 level again, so technically Sive's analysis was not far off.
     
  5. asif faryad

    asif faryad Sergeant

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    Ok Louis,

    My trading plan at present on my edge is not doing anything just sitting on my hands as Sive would phrase it :)

    I will monitor the price as is more probable that will reach 12580 12600 areas i will be in at this price with a s/l (sell)at about 12950/13000

    and managing the trade will look at 12250 as a min 12000 as a longer term if it reaches 170 pips profit i will reduce the risk by setting my S/L at break even and enjoy the movie locking profits according to my plan..

    Thats it!
     
  6. fan

    fan Private

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    I don't think it's time to enter long. On the contract, trend now is becomging bearing, we shall enter short when retracement occure.
     
  7. asif faryad

    asif faryad Sergeant

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    Morning Mate,,

    Yes thats correct as ALL MY decisions !are based BEFORE i enter NOT AFTER so i will not have any issues on what to do once in...

    1::how much am i prepared to spend to findout if i am correct i then have a look at trade and dertimine my lot size..

    2: Once i am in the minuim i expect is 1:1 ratio as soon as the trade reaches reduce the risk to 0.

    3: check at the end of the day and manage my trade by locking in profits..

    4: there is a random distribution of wins and losses this is impossible to gauge,this does not mean the edge is not working...Keep going.... ( i use this to develop my stamina... yeah SAD!!! LOL )

    4: ONCE IN I TRY AND AVOID THE COMEDY CHANNELS AND FORUMS AS ON A SUB CONSCIOUSNESS WAY YOU CAN END UP ALTERING THE TRADE (SO WHEN I AM QUITE ON THE THREAD MEANS I AM IN A TRADE :) )


    5:::: Enjoy my day by PURSUING my passions .... THATS IT I KNOW ITS A SAD PLAN LOL LOL BUT WORKS FOR ME :)
     
  8. rashidin5178

    rashidin5178 Sergeant

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    Btw guys,
    Watch for DRPO buy on M30. Whether it will become reality or not, who knows?
    Thanks and Best Regards
     
  9. Triantus Shango

    Triantus Shango Sergeant Major

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    correct. period = 17. i display std dev 1, 2, and 3.

     
  10. Triantus Shango

    Triantus Shango Sergeant Major

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    cheers rashidin. also, keep an eye on H4. some interesting potential setup inline with your DRPO buy shaping up.

     

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