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EURUSD 6E Euro
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EURUSD 6E Euro

  #1081 (permalink)
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BobbyJ View Post
@monpere I have a similar scalping/divergence style as you but play on a 4 Range Chart and not a tick. When you say you place your stop behind your entry bar and then risk 2:1, does that cause you to have varying targets each time or do you keep the same stop and target and make sure that the stop stays behind your entry?

On a range chart, the stop will be fixed size (bar range period value +1 tick) because the bars are all the same size. On a variable bar size chart, like time, tick, volume, etc, the stop will be variable based on the size of the bar, and so the target will also be variable at 2 times the stop. On a variable bar chart, I calculate my contract/share sizing based on the size of the stop (Shares = DollarRisk/StopSize), so I keep my dollar risk the same on every trade regardless of the size of the bar (StopSize).


Last edited by monpere; February 23rd, 2012 at 03:30 PM.
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  #1082 (permalink)
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The 6E did 3 pushes of about the same size: 108 ticks

I have updated my PnF chart:

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  #1083 (permalink)
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trendisyourfriend View Post
The 6E did 3 pushes of about the same size: 108 ticks

Do you have any standard methods to recognize and enter the pushes? I knew a trader whose method is based on the theory that the market produces these symmetrical moves all the time, so he would measure the current move, and displace the line forward to anticipate the size of the following moves. The trick was, how to choose the start point of the moves.


Last edited by monpere; February 23rd, 2012 at 05:03 PM.
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  #1084 (permalink)
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After a pullback (simple or complex) to a level of supply/demand. This is not perfect but when you are in a trade and the strength of the swing is high, it helps to form an idea where price may stall or reverse direction.


monpere View Post
Do you have any standard methods to recognize and enter the pushes? I knew a trader whose method is based on the theory that the market produces these symmetrical moves all the time, so he would measure the current move, and displace the line forward to anticipate the size of the following moves. The trick was, how to choose the start point of the moves.


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  #1085 (permalink)
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Fat Tails View Post
$EURUSD has retraced 38.2% of the leg down. Did not test the lows after the trendline break, which indicates a lack of sellers.

If it breaks above 1.3300, it should continue at least until the 50% retracement line, which is at 1.3436.

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@Fat Tails

I wish I had your wisdom.


Last edited by Silvester17; February 24th, 2012 at 11:11 AM.
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  #1086 (permalink)
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Also the average 5 weekly range is approx 304 which suggests that we target 1.3486 area is an estimate - potentially

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  #1087 (permalink)
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Interesting to note the classic three pushes between each pause:

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  #1088 (permalink)
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correction?

I shorted the euro (my market is molasses today - soy) up here. I noticed an offer of 1200 cars at 3470 - I'm curious if any of you euro guys see this sort of thing where there's a giant order that sticks around and whether if affects the market at all. Normally I ignore the order sizes in the DOM but when I see something that big that sticks around when price approaches it, I take notice.

Anyway - I may get blown out here but this immediate move does seem to be running out of steam...

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  #1089 (permalink)
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monpere View Post
I know most of you guys are not scalpers, but since there was nothing going on in the higher time frames, here's the 610T... I'm ready to bail on the last one at BE and be done for the day, in this last one for like 15 bars already, I generally hit target or stop out within 5 bars on average. Too late in the day, I'm fried.

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Monpere, what is the indicator that plots the arrow with "div" written above?

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  #1090 (permalink)
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r3algood View Post
Monpere, what is the indicator that plots the arrow with "div" written above?

i think those are manually drawn in..

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