mjws00 wrote:Nice to see you posting, John. It's fun watching the lights go on for some. I'd love a camera to watch the utter confusion spark into understanding. I enjoy seeing how many, once they get the content, will put in the time and energy to turn it into knowledge and wisdom.
Hey. Here is one on a slightly different path. Are you picking pairs based on how fast they are moving? Or pure setups? Or just favorites? My relentless pursuit of the fox has me continuously searching for where they are most active. I like them fast foxes best. But perhaps I am missing something.
Thanks for your time. Feel free to correct my ramblings. I'm all about seeing how I could look at it differently. I try and preface them with a disclaimer of just beginner foxy glasses and defer to the master. But I enjoy the discussions, and use it to hone my skills.
Hope you're having a great one.
Mike
If you ever look at my trades, I have traded every pair possible, including metals. USDSEEK or EURHUF is no different than EURUSD and GBPAUD. Price is driven the same way, by the same "pilots", across all the pair. They do not move as a synchronized dance team would, they all dance to their own beat. Some will slow while others speed up. Some will stand still when price is manipulated in the crosses. They all follow their own cycles. My recent trades were not perfect entry and exit. I took maximum number of trades across pairs to show what's out there. When serious money is on the line, I will reduce the trades, concentrate on a few pair, like I did with EURGBP and hammer the hell out of them.
For what we are doing, looking for moves on the 15M, the 1H charts give a good indication of what and where in the weekly cycles the pair are located, at any given time. Again, you have to pull the old nose back out of the charts a bit and take a look around.
There will be setups every day, but they will not be in the same pair every day. Sometimes a pair will range longer, until an imbalance in position is established. Anytime there is major news due, count on a violent stop hunt. Before the news event, count on extended ranging to build positions, both ways so the stop hunt can eat them all.
Point is, take time to scan the charts. There is no need to constantly be in a trade. The range is always set during Asian, the break almost always comes during London and the reverse is NY, back to the range. They work with each other, across all three shifts. They are limited in resource, and must take profit off the table. When price moves out of range then back, profit is booked and the next cycle begins. Look at the 1st chart posted in this thread. Price started at a point, moved above and below the range and ended at the same point it began....this is the larger version of the pattern, that took place over a month or more.
The same process that appears on the 15M WILL appear on the higher time frames, hitting the 30M first then working it's way all the way up to the monthly. Locate the pattern on ANY time frame and follow it.
We're hitting it hard on the 15M because it plays out here quickly. Take longer term trades based on the same pattern, on the higher time frames. They are there. 
CJ |
