Jemook wrote:M15 pins based on my interpretation of 3 pushes down. Kwan does a push have to close below a low to be counted?

banteka wrote:I'm very proud to announce the results of my first day trading with Mr Captain Jack's method:

I have traded in the asian session (waiting for the break), in the LONDON session (in the STOP HUNT) and the best trade, after an 'M' in the EUR/USD pair between LONDON and US sessions.

I can only say... THANK YOU, CJ !!!!!
Both, Wins and Loses:

This is a EUR DEMO ACCOUNT

Ingot54 wrote:

lilac wrote:

Pedigree wrote: Could it be that GU, which has been ripe for a reversal since 2 days ago, is being held in wait for the other pairs? A reversal will usually involve most pairs, if not all, but JPY pairs especially have been lagging and are only now struggling to catch up.

Do you think a reversal on JPY will come soon? I have a sell order on GBPJPY from last week, and waiting for that one to go down, it will eventually drop, the question is when and how deep it will go.

lilac wrote:I didn't miss it, just got shaked and stopped out. Anyway, I thought AUDUSD was reversing this week to the upside, will look tomorrow again and see what they plan with this one.

Hi Lilac

I notice you are working very hard to understand and spot the tracks of the fox. Well done for the effort. You are not alone in this intense learning quest. I am still trying to "get it" myself ... and making slow progress..

I have highlighted both of your recent posts for two reasons:

1) We can not anticipate a reversal, and to expect (or hope for) one, can lead to despair and damage.
2) I thought I'd offer a tool I use to look at what the market "might" be doing over a longer TF. This might help, but only to confirm - never try to use it as a forecasting tool. In fact, you are better not using it at all, and staying naked in every respect. (Post #1 of the thread does offer some useful tools.)

Having said that, CJ has already set out (and also Kwanann, and many others now) ways to pick entries, which in effect, are reversal expectations. So in that respect I don't think we look at trades as trend or counter trend setups. I hope someone corrects me if I am wrong.

See the link at the bottom of this post for the link to the Indices Empty4 platform..

Occasionally I check to see what the Indices of all the majors are doing. If you want to see what the JPY Index is doing, just look at the GBPJPY. This pair is not called "The Beast" for nothing, as those who are learning to handle her are discovering. But she is a thing of beauty (and profit) if you can tame her.

The GBPJPY is almost a perfect proxy for the JPY Index ... so if the trend is up/down in the GJ, it will also be up/down in the YEN Index. A falling JPY Index means the xxxJPY pairs will be rising.

Now - if you want to see what the majors are doing in their "pure" form as an Index, download the Empty4 demo platform from Liteforex, at the link below. As far as I know Liteforex is the only Empty4 platform that offers the Indices, through their association with SigTrader. I put the indices up as a block of "pure charts", and I can expand any of them for a closer look.

Hope this helps - I found it about the same as the Correlation charts (CSS or Currency Slope Strength meter)

Indices.JPG

And here is the link to Liteforex if interested:

http://www.liteforex.com/downloads/Empty4/

.

Captain Jack wrote:

lilac wrote: Yeah, GBPJPY can be a killer if wrong, I am only observing it from now on, luckily it was only a small order that got trapped, but I refuse to give them my money so easily, if I know it will probably turn better in a few days.

Understand that I am not picking on you Lilac, but this statement sums up why the Fox is so successful at what he does and why he repeats the same patterns over and over. These are some of the basic human tendencies and habits that he makes his living from. This is why "trapping volume" works...people buy the Fox's story and place an order in the wrong direction. When price moves against them, they continue to hold the order instead of taking a small loss, because as you have said, price will turn soon. The losses increase, margin and equity fall, and capital that can be used on a "good trade" is locked in a bad position. On top of that, a lot of people will stack orders, in the wrong direction and end with a much larger loss than they would have had they closed it out early.

When I'm wrong, I take my loss as has been evident on several AUDNZD trade series I have posted recently. Those losses were taken and made up for with positive trades later., instead of allowed to roll into larger losing positions.

Take small losses and stack your winning trades. Do not do the reverse of this.

CJ

McNish wrote:Hi Xrismak,

about your UF trade, i've seen earlier that you're holding it from past. You have kept that one alive in anticipation that price will revisit there gradually as it always does and then you will do something about it. Holding short for over a month and the price missed to revisit that level by a few pips this week.

Q is - when it started retrace 2 weeks back, why not add position in the down direction when it was so that the trade is averaged out? Maybe you did that already and your average on it is already in plus?

Thanks,

kwanann wrote:Max and all..

Please stop using barf in the wrong timeframe. It's meant for d1 and above...

Anything below.. U can cal it a m or a w...

banteka wrote:Hello friends.
I'm wondering whether GOLD behaves as Forex pairs. Should we wait for a second and third phases of cycle?. Or is gold a different subject?...

Regards