2009.09.10 DRAIN THE BANKS - LIKE A RAT

[TheRumpledOne]

Couldn't sleep.

[cosmoe1]

I Took This For A Quick 15 Pips. Even After A Major News Release.



Cosmoe1

[cosmoe1]

Hi Tro,
Question for you. I noticed that almost all of your screen shots of your charts are at the top of the hour. Are you looking for set ups at about 40 past the hour, then taking your trades at 45 past the hour?

cosmoe1

[Lijing]

flex, are you still around? Doing well? I'm having the same problems you had a couple of pages back..

[TheRumpledOne]

1) price within 20 pips of the daily low - that is OPPORTUNITY

[TheRumpledOne]

RESULTS.

"Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame (with the obvious limitations explained above)

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist." - H. Rearden

[cosmoe1]

thanks for the answer Tro.

Cosmoe1

[TheRumpledOne]

Hi Tro,
Question for you. I noticed that almost all of your screen shots of your charts are at the top of the hour. Are you looking for set ups at about 40 past the hour, then taking your trades at 45 past the hour?

cosmoe1

I am looking for setups (OPPORTUNITY) when they occur.


1) price within 20 pips of the daily low - that is OPPORTUNITY

[TheRumpledOne]

?Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame (with the obvious limitations explained above)

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.? - H. Rearden

1) price within 20 pips of the daily low - that is OPPORTUNITY

[TheRumpledOne]

RESULTS.

1) price within 20 pips of the daily low - that is OPPORTUNITY

2) red candle closes

3) green candle closes - note the high price of the green candle.

4) enter long at the green candle's high price

5) STOP LOSS IS 10 PIPS

6) Take whatever profit you can.

"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."