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- Dra replied Aug 25, 2008
Its good that you 38 pips in profit, but why did you enter this trade? I'm not seeing any of the candle formations discuss earlier in the thread. Maybe you have a different entry signal. Its not just entering at C or 3, its entering after one of the ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 25, 2008
Take a look at the 4H usdjpy, you'll see that the down TL was breach, but it wasnt a clear break. Hence the current trend remains down.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 25, 2008
An evening star is more likely to form at that level. Yes you can enter. It might seems that the up TL has be broken, but thats not a true break of the up TL. A true break of any TL occours when a FULL body bullish or bearish candle open and closes ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 25, 2008
Here are a few setups for today. As you'll see we sell the Engulfing Bearish candle at the TL in all 3 setups.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 25, 2008
No trades yet for today, but a few setting up pretty nicely. Patience is KEY for this system, being able to stay on the sidelines and wait for the perfect setups is a plus. The fact that we use 4H charts mainly, sometimes it can take a while to get ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 23, 2008
That looks like a Gartley formation, in fact it is Gartley. I will explain this formation later in the thread. As you can see that was a down TL from couple months/weeks back and the price manage to pull back once it hit the TL. Thats why we respect ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 22, 2008
This is a 4H chart, there was no signal on this chart. The evening star was on the 1H chart. Once you follow the rules of the system, I see nothing wrong entering on a good signal and getting stopped out, as you all know we cant win them all. I see ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 22, 2008
This has been a great week for the system, almost 100% win rate for this week, the trades took went for over 100pips except for the initial trade on audcad which stop me out. Looking for a similar result next week. Hope the system did you all some ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 22, 2008
usdjpy — This seems to be forming into a good setup for next week. Will be watching.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 22, 2008
Yes you can place trades on 1H charts, same rules apply, but I prefer 4H charts. Place your SL on the 1H charts 10-15 pips above last high or low.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 22, 2008
Yea thats correct. The inner TL on your chart is been broken as we speak, so look for the bounce off the outer TL. Did any one sell that evening star on the GU 4H? Flyingnie your prediction was wrong, the GU forms an evening star at the TL and went ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 21, 2008
Its now at the TL, a pull back from here will confirms C ?, wait on a reversal candle formation, one of the six mentioned earlier in the thread.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 21, 2008
Kool, wait on a reversal candle formation then enter. The fib is incorrectly drawn, fibs should start and ends at a high or a low high, in this case a high to low. Find the previous high and start the fibs there. I'm actually watching the 4H chart ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 21, 2008
Nice setup, except for that down TL. The down TL is further left.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 21, 2008
Well the rules for trading TLs ONLY, is that you buy on a bounce, what you state is a true bounce of the down TL that it breaks earlier. This system trades the pattern A,B,C, theres no clear pattern on this chart as yet. Its saying alot right now. ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 21, 2008
Nice setup flyingnie. I like those Tls. Well I cant really say anything really about that level. The system is all about going Long or Short at TLs.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 21, 2008
Ok kool. Well base on the system sell on any confirm pullback from the outer TL. If a break occour pass it on.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 21, 2008
Wow, nice man. Only one thing is incorrect, there should be no TL at the bottom(blue line). We cant draw a TL until we get a higher high or lower low, in this case a higher would be needed to draw that TL. Check my chart below of the eurusd, ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 21, 2008
This is what I have for GU. As you will see the market breaks the inner TL. When viewing a chart first thing you do is draw all trend lines(inner, outer and long term) this will confirms the current trend. Whenever market breaks the inner TL it will ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 21, 2008
Hey NaijFX check the nzdusd, 4H. Look at that nice morning star after the retrace to the TL, that was another entry. PS: BUY or SELL every bounce off TLs until the market breaks the TL.
A,B,C,D - 1,2,3,4 System