Jem's Uber Basket Trading Thread

[nonlinear]

Maybe it is just me but when I look to enter, I dont really expect the CSS to make much sense on the lower time frames because we just had a retrace. I dont really even look the CSS below H1 too often. I look for price action bounces on the 4H across the basket to trigger the trades. After they trigger (very subjective), then I look to H1 CSS for confirmation that the trade is going as planned. If H1 CSS does not start to diverge after the trade has breathed, then I am looking to exit the basket quickly.

[Jemook]

That was a rather linear way of explaining that nonlinear makes good sense if you have exceptions to close a non performing basket.

Another tip: if you want the big pip hauls you have to stay in it to win it. Tomorrow is Wednesday and that's usually our big move day so if you've entered a basket earlier on in the week then hopefully it's still open and you will see your pips by the end of the week.

[Armen]

Zoomed out the EUR and saw it may reach to 12190 area which is 50% retracement from June 19 high to June 24 low. Atm it's heading toward that area. But I suspect it will surge up to 12390.
So, IMHO it is better to go to lower time frames and skim the market whatever it is possible.

[Jemook]

1.2190 is the WPP. If it gets there sounds like a nice place to bounce back into the downtrend.

[Armen]

Yes Jem it is WPP. But my gut feeling tells me to watch out. I will not go short until EUR with an entire bar closes down the 5.1 not just piercing.

[Jemook]

Fair call. You should wait for the 5.1 before getting in. Either way whenever you enter I'll meet you at WS2 I'm still holding my basket from yesterday.

[Armen]

Fair call. You should wait for the 5.1 before getting in. Either way whenever you enter I'll meet you at WS2 I'm still holding my basket from yesterday.

It's always a pleasure to meet you Jem, earlier in FF and now here in this wonderful place.
At present i am working on a technique that identifies future major supply and demand zones.
The technique employs Elliott waves and some tricky construction. I will present it to the public as soon as i get statistically sound forward test results. But for now let me just post the pic only.

PS My dear fellow traders sorry for mixing different things up in here.

[Jemook]

You too mate!! Seriously the best thing you can do if you believe in your strategy is to make a thread on this forum and explain it to people and get them trading it too.

The reason for this is explaining it solidifies the strategy in your brain. Also by making sure people are doing the correct thing as per your rules it focuses you to make the correct decisions too. And finally seeing everyone on the same page getting good results proves that it works to yourself and to others. So I highly recommend it looking forward to seeing what you are cooking up.

[nonlinear]

EURUSD is taking a serious wack at my basket, but I am still slightly in the green due to heavy moves in other pairs. Somebody thinks the dollar is weaker than the euro, at least for a few hours.... Still holding.

[cmeade2]

EURUSD is taking a serious wack at my basket, but I am still slightly in the green due to heavy moves in other pairs. Somebody thinks the dollar is weaker than the euro, at least for a few hours.... Still holding.

I'd be quite interested in the details of the basket you opened this morning.