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Nice. There are good times ahead with that pickup. Scottrade is making it a real pain to get orders in. I'll have to start doing my EIGH buying through someone else from now on.
Flex failed right out of the gate. No new ones on the scan today.
I really hope you're right. I really really hope so. I'd like to see a nice strong large move.
I can't believe E/U is still hanging around up there. I'm just waiting for the free fall.
How long did it take to get filled? I see the price dropped to 0.005 at one point. Between that and the volume I'm guessing someone is stirring the pot behind the scenes. FINRA's short report shows 156,000 shares shorted too.
It says buy buy buy of course! No matter what parameters I put in the scan, it always returns TSHO as a buy.
G/U also looks like it may be hitting a double-top? I'm not good with patterns yet. It's a bit early to tell, but if it is, it'll definitely help drive E/U down at the same time.
Good idea. I'm actually short right now on it, up 12 pips at the moment. Probably going to leave it open overnight because it's a long trade.
You know the straight yellow line on the chart I posted? That indicator is called the Four Percent Model. According to what I read it looks at the Value Line Index, VALU, on a weekly basis. If the index price changes by 4% it generates a buy/sell signal, which would be the change in direction of the straight line.
I don't have a grasp on this indicator yet and whether it is constantly repainting or not. In hindsight, all indicators look good. But if it has merit then it may be useful to identify potential changes in the bigger trend.
However, according to this, it changed by 4% on 2/2. My understanding is that it would change direction on every pair or equity on 2/2, but I look at others and it didn't. I got lots of research to do into this one.
Very interesting. I wonder if that's simply due to how many traders use 26 and when they all start the momentum in that direction, big money from the banks comes in as well.
I will try that out. When you are on the smaller 1 min, 5 min, and 15 min timeframes, are the pinchers frequent? That was what caught my eye when you started posting these. They seemed like the perfect setup to apply a MACD based strategy for managing the trade.
Also, I'm hopelessly in love with tick charts. Here is a 5-min E/U chart and 233 tick chart, which is loosely the same as far as timeframe. You can how much more accurate the MACD 8,17,9 is on the tick chart as opposed to the time based chart. It has smoother action (less false signals) and better entry and exits. Although not perfect, it also seems to perform better when the market is moving sideways. The red and green arrows on the chart are where the histogram crosses over the 0 line.
Ok, I'm back. Working a ton right now, haven't been able to post much. Nothing much on the scan recently. FLEX showed up on Thursday and it looks like it hasn't moved much since so it might still be primed to move up.
Nope, I use it too, although probably not with the success you do. It's been great in equities. I moved to the longer tick charts on Thinkorswim and applied them. You could almost trade on that MACD alone.
I'll look at the Stochastic, but I don't think that will fix my problem. My biggest issue is I am not choosing the best times to apply it. I'm having trouble recognizing when a move is starting or if price is just oscillating sideways.
One this I've noticed is that price does react when it gets around different levels of the TPO Profile on ToS. It's Time Price Opportunity. Have you looked at it at all?
SG,
I use MACD 8,17,9 as my primary indicator. It's by far my favorite. I've used it on equities a lot but have had trouble applying it to Forex.
Then I found tick charts on ToS. On tick charts it works beautifully. Aside from the pincher, do you find anything else that pairs well with the MACD?
EDIT: By pairing well with it, I mean indicators or certain chart setups. I've often thought the Elliot Wave would be spectacular with it, but I'm not ready for that type of analysis yet.
Potential short play for tomorrow:
ENER - $4.06
Time for an overthrow then!
Can I be an assistant? Puhleeze???
Sid, have you tried trading any futures yet? There's futures for every currency, which is interesting, because unlike Forex, they aren't paired with another currency. On the charts they look a whole lot less volatile than Forex. I'm not sure if they are as lucrative, the swings may not be as great, but they are definitely less volatile.
Hey pennies,
You ever looked at this?
http://www.mtpredictor.com/
It's a setup indicator based on Elliot Wave. It doesn't work for MT4, but they do have it for Ninjatrader 7 which is as good as MT4, if not better.
Elliot waves are so subjective so when I came across this I immediately found it intriguing.
This link doesn't work?
I think MACD and tick charts go hand in hand. I'm pretty sure that it is my main indicator now. It's more for trends so I'm really trying to focus on accurately recognizing the trend and just letting the MACD manage the trade.
I'm finding that my practice time is being used better. I'm studying more substantial price movement and support/resistance, and less on the magic mix of indicators.
Oh geez, Drew found another indicator... :)
Tough crowd here! My scan says TSHO is going to do the exact same thing next week when they announce maone15 bought 98% of the float.
Aww shoot, forgot to run it that day. I usually catch all the ones that go from $0.01 to $5.00+.
Has anyone traded futures much here? I was scanning over the charts and some of them look to be pretty rhythmic and smooth in their action. A couple that caught my eye were the Swiss Franc and Light Crude Oil. I haven't looked through all of the ones ToS offers yet.
GWAY had to have went through a short squeeze. The question is whether it was just a "squeeze peacefully and short it again from the top" play from the MMs or if it was forced via buy-in. Maybe Sillerman bought double the float and then sent his brokerage statements to the SEC. It wouldn't be the first time it's happened.
I'm watching the EUR pairs, GBP/CHF, and USD/CHF right now. The EUR pairs seem to be hitting resistance and heading down again. Just waiting for some confirmation.
GBP/CHF and USD/CHF have nice upward trends to them and appear to be coming out of consolidation. I'm looking for a little more gain before I go long.
Heya faxed, hows it going? I haven't been practicing the F's a whole lot, mostly Forex and doing longer swing trades. However, the way I've been mitigating headfakes is looking at the last pullback as a support or resistance line. So if the price ran up and consolidated into a pullback, it hit or formed a resistance line. I then expect the price to jog sideways or slightly backwards at that point. Once it continues past that point, then odds are it isn't a headfake, but a continuation of price.
It's not always easy to tell if it is continuing, so I'm not real good at this yet. However, I've noticed that the strong moves tend to break the resistance, pullback to touch it as support, and then start moving.
Ford would have been a nice short the past few days. It looks like they are price correcting after the huge gains they've had.
If you like naturally occurring number sequences, you should watch the movie Pi. It isn't true or anything like that, but it's a great film.
I've been trading, but not a lot, and not strictly on the scan. Now that work got busy again I figured I'd just hone the scan and practice Forex until it slows down and then I'll consider going full time trading at that point. That's about two or three months away still.
I'm endlessly fascinated by Elliot Wave theory.
ToS doesn't have XAU/USD or XAG/USD. You still trading them exclusively?
I took 37 pips overnight on E/G short and then 3 pips on E/U long today. I figured I was pushing my luck so I quit. :)
Lookers from yesterday (results):
LSI: +0.63%
BPZ: -1.48%
DEPO: +11.87%
LSCC: +2.22%
Lookers for tomorrow:
NAVI
HBAN
ICO
LNG
Ouch!
Those cats are hideous. Might want to put that box outside and just let them run away.
The US dollar has been losing value recently, so I think that means the market goes bullish. Should be some nice trading over the next few days and weeks.
Hey SG,
MBTrader has Level 2 for Forex. What do you think of that? Look at the pics in the right column on this link:
http://mbtrader.com/pricing.aspx
Lookers for tomorrow:
LSI - $6.36
BPZ - $6.10
DEPO - $8.34
LSCC - $6.30