hey SG, Jav, I ponied up for the rainwood tick indicator. Here is what I have so far. My time is really limited right now. But playing with this as time allows. The indicator window is a 70 tick chart, vertical lines are an hour apart. Main chart is 5min. I have the same 10 pip interval lines in both indicator window and chart. As a scalping chart just looking for 5 to 10 pips per hour. EMA in chart are 34 and 144. EMA in indicator 21 and 89. This is a work in progress for a scalping chart. The biggest thing is tick info is only collected when my computer is on. If it goes to sleep it stops collecting. So if I want to get up early and scalp with this chart I need to keep computer on all night. However it does save tick info back, right now I have it set to save ticks back 12 hours. I have some setups I'm developing and watching for. I'll let you know how it goes.


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That looks really interesting Jav. Thanks for posting the link. I like the fact that the tick chart can be in a lower window with the regular chart above. That would go a long ways in helping me learn how to read the tick chart and get comfortable with it.

I may buy this, heck it should pay for itself in a couple of trades once I get it sorted out in my mind.

Hey SG how are you. I'm diligently working this market and have something I really really like. This is where I'm at for now. In this video this guy has a very basic but accurate way to define supply and demand. In using this method I get really focused on what price is doing and what the candle action is saying. I just like this approach. If you have time to watch this, about 50 min is the meat, you can get what he is doing. Come into the video about 9min and make sure you get into the one hr chart at about 35 min. I'm still using superdem but have it set at use narrow bands, its working better for me. And I'm drawing levels like this guy does and really paying attention to Price action. Otherwise chart is naked. Took some serious pips from shorting the beast last week.

http://www.compassfx.com/proptraining/workshop/?inf_contact_key=c625d472f56ca60f91fcabd6241c324d3b499453a88080c906cd99c3e9eabf58

Heavyweight, you might try the snipping tool in windows. You can snip the chart and, save it and then post it the same way on the board. Its worked for me in the past. Here's one of my Oanda FX charts with the MACD. I've always liked the MACD on this platform.

I'm spread across three. LW Trading (LIWWK.Q),,, MoodyFX (MOTBE.F),, Perpetual Trend (OLZQH.A)

So far I'm making money. Did you get an Account??

Chart looks a little better this morning, I'm still long EU as well.

Hey phrozt, I'm one, Put a few bucks in will test drive it for a while. The platform/dashboard is very good in my opinion. I like it.

Yea going to take it, can always find a place to get back in after the Fed speaks.

I'm losing patients with this one. See what the FED speaks does in a few hours. At least my UJ trade up 102 pips and U/CHF up 55 pips is taking some of the edge off.

Hey pennies, I'm about to give up on EU. Took a third of my position off. It sure looks like a weaker EURO and a stronger USD unless we get some surprise economic data. I'm thinking any rally is going to get sold off. I'm going to see if we might get a retest of 1.35 to bail. Have gone long on USD/CHF for a hedge. Long UJ and short EN, in the black there a little. Sure is quiet around here, where did every body go??

It sure looks like THEY want to tag 1.34. My daily fib 50% is at 1.3373, Maybe consolidate there.

Nice call, I just noticed that. Wonder if EU has found a bottom or it it is going to have to tag 1.34 first??

I'll check it out SG. Time is really short this week. Google searches haven't been too productive. From what I'm getting the Depth of Market apps just show where retail is on a particular ECN. They won't show where the banks and institutions are positioned. That's a whole other deal and can cost thousands per month for the feed, maybe tens of thousands. But I don't really know!! That is just what I'm getting with a little research here.

Hey SG. I can't figure out where to put the app?? In the MQL Folder??? I'm half way afraid of this thing. Maybe you do it first. Did you try in the MQL folder

Good deal, the last couple times it dropped like this EU really shot back up. I had a feeling last night it was going lower before higher. Man, if I could only see where the banks and institutions were sitting with billions in orders.

Hey pennies, SG If I'm understanding the market depth application, it seems it is only beneficial if you are trading on an ECN, where trades are being matched. If trading with a broker such as Oanda, they always take the opposite side of your trade and then hedge the retail trades on the interbank market. I think the market depth application only shows retail traders on the ECN. To see where the banks and institutions are positioned I think you need a very expensive feed. But that is the one we would want. I could be way off but I'm getting that is the way it works.

Hey Simple. That level 2 for FX sounds really interesting. Look at this link for GKFX. I need more time to look into it. It appears they have a demo account as well as live ECN accounts for FX. At the bottom of this page there is a download link for GKFXlevel2. I will look into it further when I get more time.

http://gkfxecn.com/ecn/market_depth.html

Cool, I like rock solid. The weekly 76.4 is at 1.4254, At the rate is moving that will be Thanksgiving. LOL

Hey pennies, I'm long here longer than I want to admit. Your chart gives me a little confidence, This price level is making me a little nervous. Here is a close up chart of my daily. I have weekly fibs with price action at the 50% and my daily fibs at 38.2 The shade is MA 34 and 144. This chart doesn't look real bullish, however 4hr shows some promise. Was it a quiet market today or what??

Hey Simple, its very quiet around here, wanted to show you what I'm playing with scalping. This is a one hour chart N/CHF, the candles to the right are 4hr and daily and the indicator in the upper right shows the candle color for all time frames 1min to monthly. The yellow lines indicator can be set for any pip amounts, here I have it set for 25 pip intervals, but giving most weight to 00 and triple 000 levels. Looking for 1hr 4hr and daily candles to be same color as price crosses 00 or 000 lines for 15 to 20 pips.

Its a work in progress, still using brooky fib donchian as main chart.

I'm in. I'm thinking 171.0 is it for a while. Short NU as well at .8751

I'm here SG, still chipping away. I have a lot of attention on EUR/NZD, short EN may be the new carry trade with the Euro paying minus interest, and rumors for another NZD rate hike. I'm thinking it may test its 2012 low this summer, only about 600 pips south right now, One lot short on EN is paying +8.77 a day or 61.39 a week. On the other hand one lot long EN is charging -13.85 a day or 96.95 per week, So traders may be reluctant to stay long there for very long. Those numbers are from Oanda's interest calculator. Those who can trade 10 lots short, that's 615.00 a week in interest. But you got to be pretty darn sure its going down.

Hey whatever, the pound has been on quite a move, there is a rummer the BOE may raise rates in 2014, I have this one article. Its likely to go higher many think

http://www.forexminute.com/technical-analysis-reports/gbpusd-shrugs-off-retail-slump-and-jumps-to-the-2009-high-35750

You still holding EG? I'm still waiting for EU to bust a move. Sure is quiet in the green room. Everyone must be on summer vacation already.

Hey pennies, here is what I'm looking at EU weekly. I'm long and looking for a move back up to at least 1.3800 in the next several weeks, for now it seems 1.3500 is holding as support. Tomorrow there is a ton of UK news including CPI, if data comes up short it should drop pretty good, but if data is good the bulls could take off with it again. What do you think??

GJ/beast weekly. What do you think whatever? I think it going down but patients may be in order, and give it a lot of room to breathe.

That's what I'm thinking, price is just several pips below the 88.6 level for the last move down, there's also a strong supply zone starting at 171.68.. I'm going to give it plenty of room, added at 171.59.

I'm in short GJ at 167.89 Not sure about TP, Hmmmm will put one before bed in a few hours.

looks like AUD/NZD is waking up! i've been thinking about going long all week, guess I should have.

appreciate your input pennies, its just great to be able to get another perspective on a chart besides my own. Thats helpful, I'm looking at a long term trading plan for EU and U/CHF.

Hey jav, I tried scalping for a couple of months with mixed results and have gone back to 4hr charts as my main chart, with a peak at daily and weekly to get direction. That's what works for me and where I have the most success. The way I get around the impatient part is to place limit orders for entry and TP in the demand and supply zones where I think price is likely to go and then forget about them. On the 4hr chart I use a default TP of 30 pips, no stop. Its been working well for me. Now and then I get in a little trouble and need to manage my way out of a trade with a little damage control though.

EU weekly chart
Pennies could I get your thoughts on this. On the last move down it looks like there could be bullish hidden divergence, with higher lows on price and lower lows on the RSI indie?? But what would you think of this. In the last 4 yrs there has been two times where there have been over three red candles in a row, or twice were there has been more than 3 down weeks in a row. We just had three red candles on EU, so one could expect a black candle next week. If not I think we get two more red candles down to the lower trend line. Interesting also in last four years only two times have we had more than 3 black candles in a row. I realize one could get in a lot of trouble taking trades based solely on that, but think it may offer some information on the weekly chart at least on EU. Going to look at this on other weekly charts as well. Would be curious what else you may see on EU weekly for price moves in future.

Those are interesting observations Jav

That would work for me, placed a limit short at 1.4795 before bed so back in with two positions. TP at 1.4700 but will likely take it sooner.

Took 32 pips from one of my EA positions, going to reenter if we get a little retrace here, I'm thinking near 1.4790 to 1.4800 then a drop further down. Will see, will put a limit sell there before bed.

Well I just added at 1.4799 at least EA short pays a little interest. And I'm up 52 pips on my N/CHF short.

Looks like they're aiming to take AU to .9300

Cool me too, I had a limit short sitting in the middle of the 4hr supply zone at 1.4720 and just saw that it got hit. Only looking for 30 pips on this one. Also short N/CHF, looking for 100 pips on that one. Weekly, daily, 4hr all look down to me.

quiet weekend, not even a cricket

Hey pennies, I've been holding that GJ short all this time and was finally able to get out of it this morning for some nice pips. Had me sweating bullets a few times. This is crazier, I had two long orders on USD/DKK and was down over 500pips and got out this morning with just over 200pips HA. That baby moved over 900 pips in 24hrs. I'm finding patients pays most of the time, except when it doesn't! lol!