I am trying to follow your setup for ZN. Though your DoubleMA and DoubleMa paint indicators were posted in general discussion thread, howerver I getting yelloow dot lines at the bottom of the chart instead at the locations necessay.
Would you be kind enough to post those indicators over here along with the new ones that we see here in panel 2 and 3.
Last edited by Big Mike; June 30th, 2009 at 07:03 PM.
Reason: Moved to correct thread
I have modified Sharky's setup to my favorite 610 Tick chart.
This is a sim trade that I made 38 pips. I am trying/adapting his method for my excursions into 6E. I am getting sick of the Goldman-Sachs or Merrill-Lynch bots messing with ES.
I made an entry near the 423.6% extention. 6E fell badly after yesterday (7-9-2009)afternoon rally.
If the 161.8% and 261.8% extensions can't stop it, the final resting place should be around 423.6%.
My entries were made when it approaches the zero line on the Eco2. Doesn't matter if it is purple or green or red. There is a risk here and my stops are extremely tight at 5 ticks with 2 contracts, 1st at 10 ticks for insurance followed my 1 tick behind the entry.
Another addition is with courtesy of PashaLV. My charts is the ADXVMA(21) and paint it HASH. It acts like an on screen dynamic pivot/trend indicator. When flat, price action below, shorts are preferred, or shorts are safe. Vice versa for longs.
Eco2 has exactly the same pattern as the RAVIFX Transform. The only thing is that Eco2 has the nice line paint that indicates the trend changes.
On the chart, I did highlight a counter trend trade. Which would yield a safe 161.8% target being met.
Here is my commentary in another forum. I tried buying at the 161.8% and 261.8%. Both failed but was insured from whatever the 1st contract gave.
I am still on Sim. Need to get away from ES. I took 38 pips nett after brokerage fees. Fees are $5.32 RT for currency futures. $1000 margin per contract of 125,000 Euros.
It too broke the neckline of the H&S on the daily on the 7th. I was stopped out but bought insurance for the 2nd contract which minimized the risk.
610T chart works well on this market too.
All 15 min projection downwards was busted through. So after two unsuccessful tries I decided that I will observe the 423.6% fib extension before making a buy decision.
Bought at 13887 when it retraced and the Eco2 was close to the zero line.
Insured at 10 pips, it retraced and I bought another 2 13889, Another insurance at 10 pips. The last 2 contracts, 1 exited at 100% extension and the other was stopped out at the last swing low at 13896 because I need to go pick my wife up.
I would have left my stop at 1 tick below C and ride it to the 161.8% but I will not leave this winning trade to become a loser should it really comes back.
Last edited by LordAlfa; July 11th, 2009 at 12:46 PM.
Reason: Highlighted chart.
I noted initial margin for day trading for euro are higher for you broker mean $1000. Please check AMP Futures , They have 50% redued rates mean $500 for same lot $125,000 with same or less commission fee.
I got an email from Infinity yesterday stating that the margin requirements for the 6E was 1000usd. I think that it is not competitive since AMP offer 500usd for the 6E and other currency futures.