nkosi1 » Tue Aug 25, 2015 9:34 am wrote:Morning from Ireland CJ attendies
I posted a short summary of CJ criticals a wee while ago. Here is the LONGER more detailed version - I hope this will help others as much as CJ, Sympathy and others have helped me.I have made a few monumental cock ups, but the vast majority of trades are positive, so I guess I must be learning. My biggest problem is educated pride - a lawyer always knows best till he lands on his ass, or worse, finds himself looking directly up it. Anyway, I find revisiting the precis helps cement things again, confirms and suppotrs what I am doing correctly, and helps anaylse the cock ups. Please refer back to the thread if my summary confuses - its really drawn as a touch point for ME - use at your own risk!! Again, thanks lads for your trading wisdom and contribution.
You are learning fast bro keep it up. i will check it out ok
seanyd, nice call on UC, i'm starting to see the fox and your screens guys give me more confidence. Thank you all.
ps. Do you expect a 3 day drop on UC?
Sympathy, I've got a question for you. Once you mentioned that sometimes a pair makes a W before reversal, sometimes not, and you promiced to tell about this later. So can share this secret?
In examples enclosed we have just 3 level correction and booom. While waiting for a W I miss huge pips sometimes.
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You won't always get "M" and "W"'s on all stages on a move. The best place for them is at the 3rd level. You will get RRT and "pins" which you can use as clues to possible price reversals. You need to watch for stop hunts and don't trade the Asian range....wait for price to move 25-50 pips above or below Asian for a set-up. A 3 push, 50 pip move out of Asian isn't something you want to trade....it's a set-up that draws in breakout traders, you want to watch for price reversals after these "false moves" happen.
There are multiple 3 level rise or drops....On the weekly cycle, there is a 3 day cycle that corresponds to 3 days of rise or fall... reversal may come after the 3rd level....when it does, the 3rd level becomes the 1st level in the new 3 day cycle... You will find more quality "M" and "W" patterns on this 3rd level if it is the reversal level...straight away trades tends to occur from this level as well if they already have adequate volume trapped there already.
Price spikes down once to the low, but fails to form the "W"...price spikes once high but fails to form the "M"....this is after the Asian session when the range has been set.....NO STOP HUNT Failed "W" - straight away up.....failed "M" - straight away down. Sometimes they will blow the range box out to cover this....and what looks like a stop hunt but it not .The FOX is sly and deception is his nature.
Last edited by blazej on Tue Aug 25, 2015 10:48 am, edited 2 times in total.
You won't always get "M" and "W"'s on all stages on a move. The best place for them is at the 3rd level. You will get RRT and "pins" which you can use as clues to possible price reversals. You need to watch for stop hunts and don't trade the Asian range....wait for price to move 25-50 pips above or below Asian for a set-up. A 3 push, 50 pip move out of Asian isn't something you want to trade....it's a set-up that draws in breakout traders, you want to watch for price reversals after these "false moves" happen.
Thank you nkosi1, I like your attitude - learning curve for all of us.
cheers
hannele
Good to see you back CJ, please stay a bit longer (visible, vocal) and kick us way wards back in line (now I am only speaking my own behalf really ) , if you don't mind,( I will try and get out of that lawyer mindset mentioned before "knowing better" ), and as always, any help is much appreciated.
caveywoolpert » Tue Aug 25, 2015 10:04 am wrote:seanyd, nice call on UC, i'm starting to see the fox and your screens guys give me more confidence. Thank you all.
ps. Do you expect a 3 day drop on UC?
Take a look at my map , If I'm right price will make 3 levels of drop on the 1hr maybe 4hr so probably take more than 3 days , price will follow the same pattern , same only different , looking for it to go down to around the 1.3 area , but I'm still learning this too , so we'll see , one thing to be sure of they'll be plenty of Trickery along the way
All warfare is based on deception.
SUN TZU
THE ART OF WAR
, looking for it to go down to around the 1.3 area , but I'm still learning this too , so we'll see , one thing to be sure of they'll be plenty of Trickery along the way