rwb181 wrote:First, CJ; Thank you (and all others here who follow or precede his deeds) for your interest in helping others. You are a true mentor(s) and friend(s) to all traders.
Second, my question;
I have seen much talk about watching the spread to gauge the intentions of the fox but, what do you do or how do you deal with it if your account has a fixed spread? There is no widening (or lack thereof) to indicate his intentions (or disinterest).
Again, thank you (and others here) for your enlightenment and your interests in helping traders become more successful.
Ron
Never thought of that Ron as I don't have a fixed spread account....you could always run a demo with an ECN broker with a spread indi on the chart you are trading.
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
Kruspe wrote:I look at today´s chart. There was a nice pattern at GBPCHF... I attach a chart with some description
Good work Kruspe. I'd argue though that the stop hunt you have marked there is actually just volatility to create confusion. I could be wrong or we could both be right but using the definitions I've learnt, that doesn't quite fit as a stop hunt.
That whole pattern is a larger time frame stop hunt....from the "W" to the "M" and back.....
Patterns repeat across all time frames.
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
You're busy responding to a lot my posts (and others) and I'll thank you once instead of making a lot of individual posts. I really appreciate your taking the time and effort.
first off - the level counting is guide -sometimes the trend is too strong for a reversal, so there might be 4 or 5 or move days of push. Typically there are three pushes, but that's only typically. if you can't see the levels, move on to another chart where you can.
on higher timeframe charts stop hunts can and do last for days - on a 15M chart the stop hunt is probably around 4 to 8 bars. it depends on how big a position fox needs to accumulate or offload.
I've marked up your chart with my understanding of the level count - I think the three push idea actually hold here - at least that's my interpretation
with regards to returning to previous price levels - that will happen, and I don't think you can plan for it - I would just move on to another pair and trade something more obvious
Hi f451. I've always been under the impression that it's the players (aka foxes) who create gaps. At least gaps of that size and on week ends. Again I'm probably wrong but I'd be really interested to know what the captain thinks about that.
Notice the candle that closed before the gap...there are longs trapped there...the gap down in price is the foxes way of busting out accounts, creating margin problems and booking his profit while he is the only one in the market.
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
mobthehop wrote:Kruspe - really appreciate your explanation and accompanying images - could you do me / us a favour and kindly add currency pair and tf to your images when you put in the explanation, a lot of members collect these for future reference...
Cheers & everybody have a great weekend
Mop
PS I know it was asked before but I can not remember if you answered - what platform are you using.....?
I think most of the time, you can hover your mouse over the image and the pair name is in the title.
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
seanyd wrote:Can I post an Indicator that I found very interesting its called the T S R signal line ,
I know this is naked trading but for people like me that are not to sure if this is an entry or not ,
I think this could be an extra confirmation.
I have 2 on my chart Red on period 79 and method 3
and the green one set to 60 and 3
don`t know if i`m allowed to post this or not
please delete if so but I thought this might help
I'd prefer to keep the charts as indicator free as possible. Steve is going to set up a place where you can add whatever you want to your charts, but in here, less is more.
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
kwanann wrote:Had a fantastic week, next week will be trying to adapt CJ trading to a H4 or D1 trading pattern so that i do not need to spend so much time on the charts.
I believe it should be possible though it could be the case that my DD will be quite high.
Just wondering if anyone is trading off the higher TF charts rather than the 15m and 1H. I remember someone mentioning that H4 is biased thats why its better to trade off 1H, would it be the case for D1 as well?
You can use this on the higher time frames. I traded almost exclusively on the 4H and D1 time frames in the past and have only recently begun trading the 15M.
DD should not be a problem when your count it right...you still enter on a set of RRT's or "M" or "W" and the stop is just above or below the high....15-20 pips....that's your SL. There should be no DD.
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
