Richard Hill Forex Net Trap

[msharma74]

yep no trade day today

 

[mark120169]

I took it as a trade?

Agreed. MA is clear by 1, weak sell.

M

 

[BigBrassBalls]

Agreed. MA is clear by 1, weak sell.

M

Same. It's a trade, albeit a weak one.

 

[BigDunc]

RE: Msg 1696

BigD what about trying the 3 ducks strategy?

Its my next move for days like this on NT.

cheers

mish

*Goes off to learn about the 3 ducks strategy* :smart:

 

[mark120169]

Same. It's a trade, albeit a weak one.

Well i'm in now so. Trap set Sell 14803.

Off to helllllllllllllllllllllllllllllllllll.

M

 

[Melb]

It's only the 15min time frame that shows slight downward movement, every other time frame shows upward movement.

On the 1 hour chart and the 4 hour chart a pennant is formed... This is a classic sign of indecision and possible reversal on the breakout... I would be looking to enter short on the breakout unless you are looking at the much longer trend over months which is not day trading...

 

[goldfinger777]

A VERY weak sell! Looks too risky to me, even for the legendary INT ;-)

 

[peterf1966]

Hmm, i'm not sure to be honest. Could be handy to close off your orders if they still haven't been triggered though

I used it early on, but you still have to be at the screen, or at your mobile at 8.30 to see if you are even trading, if you are using NT as per rule book, so it's not much use.

I'm keeping my powder dry this morning, there will be other days when conditions are more favourable, as they were on Monday. Even if the rest of the week is range bound, it's still +50 for the week.

I like a bit of straddle in the morning though, I must say. But nowt to do with forex.:whistling

 

[Melb]

I like a bit of straddle in the morning though, I must say. But nowt to do with forex.:whistling

Mmmm - I see the set and forget style favours your lifestyle Peter :cheesy:

 

[peterf1966]

Mmmm - I see the set and forget style favours your lifestyle Peter :cheesy:

You know it. :cheesy:

I do make it a sell according t'rules as strictly applied, If it were not for the 5.45 and 6.00 candles pulling the MA up, I'd have gone in, but 50 pips is a big ask, and it would need watching.

 

[SA Trader]

I also noticed this, haven't used it though as sometimes i check the chart at 08:30 and decide whether to bail or hang on! May be handy on busy days though. Has anyone tried this??

I will sent a msg to IG and see exactly how this works, as it could be a great for those of us who are away from the PC at 8.30...

 

[Claviceps]

I read this as a weak sell signal ,wasn't confident about it but went with it , ordered a sell at 14804
got 14801 , and already its gone quite nicely into a loss ,were I using 'serious' money I would have stopped and 'cut my losses short' by now - however as I took only a small 'punt' going to let it run
in the hope of either learning something or the system coming good in the next hour and a half,fingers crossed.

 

[Melb]

Well I felt it way to indecisive to enter this morning... The trading channel today is quite tight and very much sideways - currently just pottering along the centre of the channel... My instincts say stay out... Taking a sell at 06:30 positions the trade towards the lower edge of the channel and unlikely in the short time frame to succeed... At a push with a lot of luck MNT may make +10 if there is momentum... Currently it looks like your sail boat is in the middle of the lake and the wind has dropped right off I may look at a sell if momentum picks up and support is broken at the 790 level - would not fancy a buy trade on the upper end of the channel as that is into monthly highs...

 

[peterf1966]

fingers crossed.

I'm sure crossing of fingers is not anywhere in the NT manual...

 

[Tanguero]

Bought @ 1.4816. We have a chance to have strong leg up today.

 

[Tanguero]

Interesting. Yes the no-trade signal is to keep us out of choppy markets but the market is not choppy today sitting in a narrow consolidation during the Asian session. At the same time, we did not have any closes below the MA recently. That's bullish to me. It looks like the market is preparing for a surprise. It seems to eye up the 1.5000 level. Will set this as a target. Fingers crossed indeed.

 

[stevepatt]

Two important anoucements to come at 8.30, as below, could influence the way the market will go.

Take care Tanguero as to which way it goes.

GBP Claimant Count Rate (MAY)
GBP Jobless Claims Change (MAY)

 

[Tanguero]

Two important anoucements to come at 8.30, as below, could influence the way the market will go.

Take care Tanguero as to which way it goes.

GBP Claimant Count Rate (MAY)
GBP Jobless Claims Change (MAY)

Thanks. 9:30am in fact (BST), 8:30 GMT.

 

[Melb]

It looks like the market is preparing for a surprise..

I hope it is a pleasant surprise for you... For me, I am just observing and waiting for a definitive move outside the channel - I am shying away from buy as that is in new monthly high territory and there will be some resistance at yesterdays high... So looking for a break downwards to enter - but this would have to clear 800 (big whole number) and support at 790... I am thinking for me, it is a day to go and do something else ...

 

[Tanguero]

Stopped out for -30. It will be funny if it reverses here.