Intraday Trading the Forex market to make consistent profit

[TheRumpledOne]

Messages correct yes/no??

 

[Forexmospherian]

[QUOTE

F:

Are my indicators displaying the proper messages now?[/QUOTE]


Still trying to work a couple out - but I think you have it now

Let me study more of your indicators and see how it all appears when you post more tomorrow

I will stay with the EJ more and post some of my charts during the early session

You are getting there

Keep it up


Regards


F

 

[TheRumpledOne]

F:

Remember, theses indicators are only THE PIECES and not the whole!

That's why you have to look at all of them to get your buy/sell signal.

It appears you may only need 2 to confirm entry so long as the others aren't giving contrary signals.

 

[TheRumpledOne]

Funny thing, F, you probably have never had your system dissected before.

Hopefully, we both learn from this experience.

 

[TheRumpledOne]

F:

I think I figured out why this is taking so long!!

All you have to do is tell me the position of price or LR vs the other LRs and what condition that indicates.

Such as RED > YELLOW and PRICE > RED and PREVIOUS RED > CURRENT RED = SELL.

In English that would be:

RED LR is GREATER THAN YELLOW LR and

PRICE is GREATER THAN RED LR and

RED LR is falling

equals SELL

I really hope this helps!!

 

[TheRumpledOne]

9LR and 3White LR indicated SELL and PAID OFF except the RED/YELLOW/GREEN was indicating BULL.

I do believe the code is correct but there has to be a way to explain this and I don't mean prose, F. Has to be with LR and price positions/directions relative to each other.

 

[NVP]

great work guys .............the commentary is appreciated

 

[Forexmospherian]

9LR and 3White LR indicated SELL and PAID OFF except the RED/YELLOW/GREEN was indicating BULL.

I do believe the code is correct but there has to be a way to explain this and I don't mean prose, F. Has to be with LR and price positions/directions relative to each other.

Morning TRO

Ok - to answer this question using the EJ as the example

I have posted my chart covering your period up until now - ei 1 00 pm UK - and what 8 am NY ?

Ok- with the 9 LR's under price - a strong buy

But that buy hit a barrier or resistance area at 130 30 -33 price zone

The buy was then unable to breach the R area - so the 3 white lrs went over - saying scalp sell

At this time within 3 mins of the high being posted - you NO Longer have 9 Lrs under price

Only 6 now and the 3 white quick Lr's take priority - as they scalp sell - and every move as to start at the beginning - and the 3 white Lrs are always the beginning or end of a move.

Then price fell 10 + pips under the red and the yellow

At that time it was a scalp sell - BUT still in a bullish mode .

If you then look at my chart the bias only changed to bearish or full sell under 139 22

Then we had all 9 Lrs over price - and it was stilla good sell

Remember over price - sell - under price buy

Price then drops this morning to 139 10 - and is still a strong sell with 9 Lrs over

BUT - major but here

At 139 10 -12 area is another barrier - a strong support.

The sell of fall cannot breach this area - even with 9 lrs under - so within 3 mins and 139 14 - we then have 3 quick Lrs under saying BUY again

Remember now at this point ie say 139 13 -15 area - we NO longer have 9 lrs over price

Then as price rises - at 139 18 /19 - we now have 6 or even 7 lrs under price

By 139 26 - we are back with all 9 Lrs under price - and a strong buy again

so by 139 26 at around 9 00 am UK time this morning we are back with up bias a a strong buy

The news does a false move down - to stop hunt and knock out weak bulls but then price carries on up and now at around 1 10 pm UK time price is at 139 56 - above price shown on the chart


So really from your chart you posted the EJ was bullish and went another 25 pips above the barrier it first stopped at for your scalp sell

For me the LR's are just part of the equation

Both horizontal and dynamic supports and resistances play a part with Time for wave changes

When they all line up you get the next wave

As I finish this comment - EJ is now over 139 59 and it the end of my time window

Wheres the next barrier to stop this move up ??


Hope that helps with my way of how i see my method

I have posted this next rise and as you can see from 139 45 - all 9 lrs were under price - saying a good buy - and then we go up 25 pips or so

Regards


F

 

[TheRumpledOne]

Good day F:

That was most likely your best commentary so far! Simple. Easy to understand.

Sounds to me, the 3 white LRs, and price relative to all of the LRs are the key. The RYG and WRY play a minor confirmation role giving clues which direction to trade.

What I add to this is the RAT ZONE - the area within 20 pips of the current daily high/low. Using your triggers within that area has been profitable. All one has to do is wait.

One small point, F. The LRs lag price so, price goes over/under the LRs, not the other way around.

 

[TheRumpledOne]

great work guys .............the commentary is appreciated

Good day, NVP:

You VOYEUR...lol!

 

[Forexmospherian]

Good day F:

That was most likely your best commentary so far! Simple. Easy to understand.

Sounds to me, the 3 white LRs, and price relative to all of the LRs are the key. The RYG and WRY play a minor confirmation role giving clues which direction to trade.

What I add to this is the RAT ZONE - the area within 20 pips of the current daily high/low. Using your triggers within that area has been profitable. All one has to do is wait.

One small point, F. The LRs lag price so, price goes over/under the LRs, not the other way around.

Cheers TRO

Agree the Lrs do lag price - but being on a 1 min chart and with them being quicker than MA's the lags are minimal - and remember price action alone is not enough

I use LR price structure to assist me - IN ADVANCE of PA - then if PA agrees - i am delighted

So if price was at 139 35 say - and it fell 3 pips to 32 - and my LR structure still said buy - I would ignore immediate PA and go with LR price structure

Hope that makes sense

Regards

F

PS have posted a 30 min EU chart with top and bottom on other thread

This shows the bigger picture with LR structure saying under sat 3760 and 30 still bearish

But that does not mean we canot try 3700 or 3730 and thats were the small time frame charts are assisting more with real time action rather than a 1 hr or 4 hour lag with the larger frames

 

[TheRumpledOne]

Using the 3W LR and the 9LR indicators for entries is producing profits.

 

[TheRumpledOne]

My instincts tell me there is one more piece to this puzzle...

 

[TheRumpledOne]

I created the 9LR multimeter which is the number of LRs below price minus the number of LRs above price. so a green 1 means there is 1 more LR below price than above price... the range would be from -9 to +9.

F, I did this because you said you are looking at other chart periods, too.

 

[TheRumpledOne]

F:

I know this may seem BLASPHEMOUS but I mean no disrespect.

I have turned off 6 of the LRs because I can use indicators instead - faster, more precise.

Price and its relation to the 3 white LRs are the triggers and key.

The rest of the LRs determine bias - which way to trade.

Sometimes what one thinks is the cause or reason, really isn't.

Once prices crosses the 2 faster LRs (white dash and dotted lines), the cross of the slowest white LR (white solid line) means you are GOOD TO GO.

You could almost do away with the 2 fast white LRs, too. Notice how prices tends to stay on one side of the solid white LR after it crosses WHEN THE LR IS NOT FLAT!!

F, I hope you can SEE WHAT I SEE with fresh eyes. But it may be hard since this is YOUR BABY after all.

 

[TheRumpledOne]

Can you see what I mean about price crossing the white LRs?!?!?!

 

[Forexmospherian]

Can you see what I mean about price crossing the white LRs?!?!?!

Yes - agree with you the white fast LR's on the 1 min are normally OK for scalping - especially when they line up with time and S & R areas.

But as you have mentioned - they do lag behind price - ( even if its about the shortest lag possible - other than on a 5 second tick chart) - but I use my other LRs to assist me predict in advance

It is complex and i have probably still not explained it as well as I could - but every LR is a clue in the overall jigsaw of the session.

Rather than keep checking say a 1 min and a 5 min and 15 /30/ 60 /240 min chart - its all there on the 1 min - when you end up understanding it more

Major Magnum as now been following my method for approx 7 months - and he is still discovering all the significance of the LR structure - and that's after approx 1000 hrs of watching how they work.

By all means use the 3 quick one etc - but to end up having more confidence - staying in buys or sells - you do need the "full monty"

Regards


F

 

[TheRumpledOne]

Hi F:

I am not disagreeing.. I understand about the FULL MONTY and that's what the indicators are doing... telling me the relationship.. not only on 1 time frame but on ALL TIME FRAMES.

This morning the new multimeter was showing a green 9 on the H1. The long scalps were huge!!

Just look at what happened when the greens lined up on the bottom!!

I am understanding and adapting...

 

[TheRumpledOne]

"It is complex and i have probably still not explained it as well as I could - but every LR is a clue in the overall jigsaw of the session.

Rather than keep checking say a 1 min and a 5 min and 15 /30/ 60 /240 min chart - its all there on the 1 min - when you end up understanding it more"

F: You gave me an idea... I wrote the MTF version of the multimeter.. you can see HISTORY of the LRs for 4 chart periods... Of course, you could load it twice and see 8 but since you said Daily and above wasn't needed for scalping.. I didn't make a dashboard.

The bottom sub window shows the latest indicator... probably have to work some things out...

 

[TheRumpledOne]

F:

"By all means use the 3 quick one etc - but to end up having more confidence - staying in buys or sells - you do need the "full monty"

When I sell short, as long as price doesn't close above the previous 5 minute candle's midpoint, I sit tight. That's usually gives me the lion's share of the profit. Look at the chart.. the magenta dot is the previous candle's midpoint. The aqua dot is the current candle's midpoint. Just look and SEE!!

Do the opposite, if you have entered long.

I will be uploaded a video sometime debating whether or not a trader should use the same chart for entry and exit. I usually switch charts.