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My 6E trading strategy
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My 6E trading strategy

  #261 (permalink)
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whew,,,

Charles,

I didn't take this trade because of gut feeling and NY session's almost over

but could you comment why it didn't work (it's not over as of this moment but it looks like a loser).

I was going to short at the close of 3rd bar from the right.

Attached Thumbnails
My 6E trading strategy-6e-06-11-1508-tick-6_8_2011.jpg   My 6E trading strategy-6e-06-11-377-tick-6_8_2011.jpg  
 
  #262 (permalink)
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Found one answer to my own question,,,,I guess.

No divergence at the moment and stochastic at the bottom already??

 
  #263 (permalink)
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kalalex View Post
Charles,

I didn't take this trade because of gut feeling and NY session's almost over

but could you comment why it didn't work (it's not over as of this moment but it looks like a loser).

I was going to short at the close of 3rd bar from the right.

I'm sorry to everyone for being away I lost internet connection - thank you comcast

Anyway - to answer your question Kalalex, you have no lower low on the 1508 before price pulled back to the MA. A candle must CLOSE below the last swing to consider it a lower low

Charles

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  #264 (permalink)
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kalalex View Post
Charles,

I didn't take this trade because of gut feeling and NY session's almost over

but could you comment why it didn't work (it's not over as of this moment but it looks like a loser).

I was going to short at the close of 3rd bar from the right.


There Seems to be major Support around 1.4567

 
  #265 (permalink)
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Presto View Post
There Seems to be major Support around 1.4567


cjbooth View Post
I'm sorry to everyone for being away I lost internet connection - thank you comcast

Anyway - to answer your question Kalalex, you have no lower low on the 1508 before price pulled back to the MA. A candle must CLOSE below the last swing to consider it a lower low

Charles

See this chart Kalalex, you need a close below prior swing, then the retrace

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charles

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  #266 (permalink)
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6e strategy

I was looking at the 2am setup but it did not meet the requirements.

1) 1508 retrace Y
2) HH on 1508 N
3) zigzag HH, HL (triple top) N
4) not within 15 points of a "00" (close of 4621 bar) Y
5) close above cloud Y
6) direction of channel (flat)
7) double bottom with divergence N
8) DoJI in 377 retrace Y

No trade for me on this one.

Attached Thumbnails
My 6E trading strategy-6-9-2011-04-40-09-am.png  
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  #267 (permalink)
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Good morning

As far as I found the trade you talked about in my charts (I am located in Western Europe), I think that yet the lower low on the 1508 has forbidden to go long anywhere in that area. As I understood Charles, Setup must form on 1508 first and then we look at an entry on 377.
1508 has formed a double top first with not remarkable divergence on the Stochastics, then it makes a lower low.
It is not so easy for me to spot at any time when to look for longs or shorts, i mean the intraday trend goes up, down or sometimes nowhere, the cloud is thick or thin, red or blue. It are these changes which I am fighting with a bit. What I clearly understand is not to look for a long trade after a lower low, so possibly one can stop his analyze at that point when looking for an entry.
Of course I want to thank you for your analyze which I used to go through the different rules again and compare them with what happens on the chart. Thanks



jpygbp View Post
I was looking at the 2am setup but it did not meet the requirements.

1) 1508 retrace Y
2) HH on 1508 N
3) zigzag HH, HL (triple top) N
4) not within 15 points of a "00" (close of 4621 bar) Y
5) close above cloud Y
6) direction of channel (flat)
7) double bottom with divergence N
8) DoJI in 377 retrace Y

No trade for me on this one.


 
  #268 (permalink)
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PowerM View Post
Good morning

As far as I found the trade you talked about in my charts (I am located in Western Europe), I think that yet the lower low on the 1508 has forbidden to go long anywhere in that area. As I understood Charles, Setup must form on 1508 first and then we look at an entry on 377.
1508 has formed a double top first with not remarkable divergence on the Stochastics, then it makes a lower low.
It is not so easy for me to spot at any time when to look for longs or shorts, i mean the intraday trend goes up, down or sometimes nowhere, the cloud is thick or thin, red or blue. It are these changes which I am fighting with a bit. What I clearly understand is not to look for a long trade after a lower low, so possibly one can stop his analyze at that point when looking for an entry.
Of course I want to thank you for your analyze which I used to go through the different rules again and compare them with what happens on the chart. Thanks


There was no trade per rules at 2 am you had the lower low on the 377 after a sideways move so there was nothing to the left to get you interested. the 1508 appeared to might be forming an ABCD but also failed - see my post for measuring them yesterday -

Also I suggest waiting for the U S session, just my suggestion though

We have an ECB rate announcement this morning , which is usually a non event what is important is ECB Trichet's news conference at 7:30, the market usually reacts fast and furious to his comments


Charles

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  #269 (permalink)
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jpygbp View Post
I was looking at the 2am setup but it did not meet the requirements.

1) 1508 retrace Y
2) HH on 1508 N
3) zigzag HH, HL (triple top) N
4) not within 15 points of a "00" (close of 4621 bar) Y
5) close above cloud Y
6) direction of channel (flat)
7) double bottom with divergence N
8) DoJI in 377 retrace Y

No trade for me on this one.

I like the way you wrote your comment here. I think it is a very good idea (in the learning phase) to repeat the rules as you did. I would also suggest to write two separated numbered lists for the charts (1508, 377).

 
  #270 (permalink)
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Charles,

Pls comment the trade just completed...
I was going up...

All rules observed, pls clarify.

Thanks

Attached Thumbnails
My 6E trading strategy-09-06-2011-12-30-32.png   My 6E trading strategy-09-06-2011-12-37-32.png  

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