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- CalistogaKid replied Oct 19, 2011
LET THERE BE LIGHT! — Since Raz came up with this system maybe he can advise. I had an idea that might clear up the subject of what is price rejection and what isn't. Some type of guideline formula. For instance: Price must move up or down X ...
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Oct 19, 2011
I don't know, guys. — The price rejection in that trap doesn't look steep enough to me. You might have just gotten lucky that time. Can someone else look at this and let me know if I'm wrong here? I don't want to discourage anybody, and I'm ...
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Oct 11, 2011
Need some skype info. — To listen in on the discussion, I have headphones. But, I don't have a mic. So, what exactly is the format? Do I really need to talk? (I tend to talk too much anyway.)
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Oct 11, 2011
The signal you're waiting for when it breaks to the upside is to retrace into the trap. The goal is obviously to buy as low as possible. So, what I do is follow it down. The first time it moves to go back up, I figure that's as far as it is safe to ...
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 27, 2011
Well, since nobody was home. — I went ahead and trusted my own judgement. I still wasn't brave enough to ride it all the way to t/p. But, I did close it out for a 23 pip profit. Go figure.
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 27, 2011
Anybody wanna offer some input? — I'm still not reall sure of myself here.
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 27, 2011
Hope I'm reading this right. — Looks like a good setup is building right here.
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 27, 2011
Okay, so I chickened out. — I'm still not sure of myself enough to take the risk. So, when I noticed it hitting support @ 1.3600, I went ahead and closed it out. But, I made an easy 17 pips. So, I'm not complaining.
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 27, 2011
Unbelievable! — It still hasn't hit the tp, so when it bounced back up to 1.36320, I went ahead and got in. Some days you just get lucky, I guess. Now, I just hope it doesn't turn on me.
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 26, 2011
Just a quick update.... — I'm starting to see why so many people believe that price action (by itself) is the best way to go. I'm still a little unsure of myself. So, I often back it up with moving average crossover or a trendline breakout. ...
Trading Strategy
- CalistogaKid replied Sep 23, 2011
Sorry. It's not MT4 — I use Forex Trader Pro from forex.com. It sets the scale automatically according to how big the spread is between the highest and lowest prices for the number of candlestick I use in the chart.
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 23, 2011
I think I'm getting this. Now correct me if I'm wrong. On the chart, I have an upper and lower level, but still waiting for the breakout. Or is this trap too deep?
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 23, 2011
Okay.. — Then, in order to be sure it's price consolidation, the trap has to be at least 11 minutes long and 9 to 23 pips deep. We wait for price to break out of the trap. If it breaks high, we go long. If it breaks low, we go short. Am I ...
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 23, 2011
Let me see if I got this straight. — When you see price rejection both up and down, those are your upper and lower levels. The area in between is the trap? Price rejection is when price moves quickly (say, more than a 45 degree angle) off of ...
Price Trap Eur/Usd 1 MIN
- CalistogaKid replied Sep 21, 2011
What can I say? — If I can quote an old 70's rock band, "I'm not always right, but that's the way I am." Never let it be said that I doubted your sincerity in protecting this site. But, I obviously missed the boat on this guy. Keep up the good ...
USD/JPY Discussion
- CalistogaKid commented Sep 19, 2011
rock 'n' roll tried to ruin my life.
S&P lowers unsolicited rtgs on Italy to 'A/A-1'; outlook neg
- CalistogaKid replied Sep 16, 2011
I was on another thread playing with the euro for awhile... — But, I thought I'd stop in and say, "Nice meetin' y'all!" I managed to make a few dollars. A very few. But, since it means I didn't lose money today, I figured it's better not to ...
USD/JPY Discussion
- CalistogaKid replied Sep 16, 2011
I won't bother mentioning how much I made today.... — ...'cause to tell the truth, it's a pathetically small amount. But, I made it to the plus side. So, I'm calling it a night. LATER, PEEPS!!!
EURUSD
- CalistogaKid replied Sep 16, 2011
Caught the retracement AND the bounce. — It was good for about 25 pips, give or take. Not much in the grand scheme of things. But, considering what a freakin' newbie I am, I was pretty proud of myself.
EURUSD
- CalistogaKid replied Sep 16, 2011
BOMBS AWAY!!! — Gravity's a bitch, ain't it? But, that's cool. I'm gonna scalp a few pips on the retracement.
EURUSD