Intraday FX Player

Discussion in 'Journals' started by CFerret, Mar 26, 2008.

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  1. Those are reversal signals! Do not blend those - what book are you reading?
     
    #3761     Jun 19, 2008
  2. bkveen3

    bkveen3

    The Candlestick Course by Steve Nison. I definately see the key reversal in the second rectangular box but in the first I didn't see it on that five minute. It wasn't till i looked at the fifteen that I saw the obvious shooting star.


    What is it about the first set of bars that says reversal to you. Without the blending?
     
    #3762     Jun 19, 2008
  3. Blending is rare and only for more for complex moves in higher TF's the way we trade here. In your 1st eg you have a fluid move up followed by a clear reversal candle - the break of the low of this reversal candle is your aggressive signal and the close is the conservative signal.

    It's been many years since I watched Steve's Candlestick Course but he didn't teach fluid reversals - just reversals after an impulse without qualifying it's quality. You will find I have discussed quality signals earlier with chart examples.

    Blending is fine when you have time and the need e.g. daily candles but in an ultra fast paced market and using multiple TF's you very seldom require it.

    We would try to avoid using a 3 bar set-up like a Shooting Star for entry - much too slow. Better to see it way after your entry and know traders are shorting to push the trade further in your direction.

    Your second eg of a wide bar bear engulfer is where you start - on the 5 min chart. The K/R would be on a Bar Chart. As you progress you would be able to short much closer to the top on the 1 min chart.

    Use Steves book to get you started and then go over the charts I have posted. Steve doesn't trade and his advisory service is not geared for ultra short TF's in fast markets. Steve said he couldn't handle the stress and that was using daily candles!
     
    #3763     Jun 19, 2008
  4. bkveen3

    bkveen3

    Do you know what month you would have posted that. I dont know if you noticed but the thread is over 600 pages now. Its difficult to find things in it.
     
    #3764     Jun 19, 2008
  5. sorry, nope
     
    #3765     Jun 19, 2008
  6. Morning all I am short on EUR/USD....:)
     
    #3766     Jun 19, 2008
  7. You may wish to change your 'elitetrader' account settings. At the top of the page, click on 'Your Account', then go to 'Edit Options', then in the drop-down box for 'Default Posts Per Thread', change it to the maximum number - which is 40.

    This will cut down the number of pages from 600 to 95. Which you may find is much more manageable.
     
    #3767     Jun 19, 2008
  8. bkveen3

    bkveen3

    VERY HELPFUL!
     
    #3768     Jun 19, 2008
  9. Afternoon all!
     
    #3769     Jun 20, 2008
  10. Afternoon CF and everyone else. Last day before the weekend, let's make it a good one! :)
     
    #3770     Jun 20, 2008
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