Dave from Sydney's Journal [Awarded Title: the Box-Trader]

[Dave]

Waited for this setup and passed on the previous signals as I didn't see a clear price pullback. PC here for W5 of W3, with a 1/1 DS got me +2R

Screen Shot 2016-11-04 at 7.56.18 PM.png

Weekly results:
Monday, Tuesday & Wednesday: No trading
Thursday: Sat and watched but price was stuck in a low volume range (as Tomi might say, slight gain of experience). No trades
Friday 4/11: +2R, DS 1/1

Week: +2R, DS 1/1

[immy]

Waited for this setup and passed on the previous signals as I didn't see a clear price pullback. PC here for W5 of W3, with a 1/1 DS got me +2R

Screen Shot 2016-11-04 at 7.56.18 PM.png

Weekly results:
Monday, Tuesday & Wednesday: No trading
Thursday: Sat and watched but price was stuck in a low volume range (as Tomi might say, slight gain of experience). No trades
Friday 4/11: +2R, DS 1/1

Week: +2R, DS 1/1

I can see that you are using the same symbols for the both seed and cherries which implies that they are the same but not really. They are taken within the same pattern the same hunt setup but the bar formations and how they are played are ever so slightly different.

The cherries are apples and the seeds are set up ones.

you want to see "ideally" a pc or at least a zig zag pattern for cherries and you want to see an impulse BAR before a Seed. ideally. this way you're using a setup 1 of a lower time frame (a question of fractal geometric symmetry) more on this as per our skype pms... and the subsequent video of course.

to me those earliers seeds were really good but that's not the point either. IT IS YOU who has to feel confident and absolutely sure about it. and that is the part of the game that not many people get.

[Dave]

Thankyou Immy for the feedback.
At this stage the symbol is nothing more than an alert for me. It doesn't define my entry. But I appreciate the difference between a tight range seed and a PC/W4 cherry. I'm looking for entries at the peak of pullbacks, or if it's a seed it's at the start of the wave. So I suppose I filtered the early seeds based on the wave wasn't new, but then the cherry I took was qualified by the PC/price pullback.
Hope that makes sense! :-B

[immy]

I'd like to pay special attention to the bar formation the is right next to the previous seed signals... what exactly does that one tell. you... what type of pa is that?.. think about it... now, this may not be of much value on m1. but come to h1 and it becomes more powerful, take it to D1 it almost becomes invincible ...

btw: one does not need much pullback for Seeds, but definite pullbacks for Cherries.

[Tomi]

Yes yes, XP increases on slow days! Today you took good looking cherry. Nicely traded subwave 5. I skipped it as I traded already earlier setup and wave was complete already for me. However, I waited for setup to later wave 5 but market was in a hurry and just hit the target with any tickets to the train. All good!

[Dave]

I said in Skype that I would be interested in a trade outside the FO range, and my trading plan allows for two types of entries:
- M1 seeds and cherries;
- M1 S1S2 in line with M5.
The small cherry-like candle presented a great chance for a small stop loss with entry outside the range, and Steve's ATM did the rest. I admit that I am pushing the boundaries of a S2 but the combination of factors (range break, small stop loss, impulse wave on M1 with open alligator, eWave colour change pullback) made it valid. And managed correctly (party) ...... (am I talking myself into allowing this trade?!)

Screen Shot 2016-11-07 at 8.34.10 PM.png

[Tomi]

Just personal thoughts about the trade. I skipped it because I didn't like the flow of the market. Big move up on Frankfurt open and flat after that. I had also visitors coming here and was not that keen to trade unless there would have been something just perfect. Technically skipped it because there was not enough room to get even to break-even before target zone. However, if you draw fibonacci extension starting from Friday close there would have been enough room to target.

Why I use this target zone approach and require enough room to target zone, at least to get to break-even? It filters out pretty good slow markets. When market is not moving much, the spread will consume big part of the move. Usually spread + 2*1 pip distance to AIMS levels will eat out the space if market is not moving. In the moving markets the spread is proportionally small automatically. Just a technical approach but I like it.

It was good looking pinbar cherry that happened to be s1 on lower timeframe. Trade worked perfectly though :-bd

2016-11-07_1207.png

[Dave]

Yes, Tomi, you make a very good point. I posted a couple weeks ago about disregarding fib target zones caused by false market open gaps. And the same should be said for these huge gaps giving distant target zone projections. I did look at TZ1 but qualified it as being a mile away. I should have disregarded the gap and used the smaller wave from just before LO as W3, and therefore considered TZ1 to be close.
Appreciate your comments ( ~o) )

[Tomi]

Just a sidenote... during simulation personally I keep fibonaccis in the toolbox. The results are still just fine. I like to use fibonaccis only when live trading. I think what ever approach you use, use it consistently. During live trading there's so much extra waiting time and drawing fibs helps to keep the focus to the chart (at least for me).

Whether to draw fib from peaks or somewhere between that varies between trades. By the time drawing fib, nobody knows what is the correct way. If it looks good and you have some idea of the possible waves, I think it's good enough. You can always redraw it when more candles are formed.

Coffee time and waiting for voting to happen. A bit flat market at the moment ~o)

[immy]

Dave... in terms of T20... DS0.
in terms of trading in general, good trade.

what is your GOAL? that would be definining factor

ps: patience and discipline would have meant. a BETTER Cherry signal with good results and a DS1... THINK ..

ALL IMHO