Hi,
I subscribed to DT yesterday, and like to share some of my trading experience/comments/questions with this amazing trading tool in this thread.
Below is the bulls-eye on cable in SC room. With current prices at 1.9739, in an hourly chart, not so sure why the trigger price is not on the pull-back, rather on a price breakout! Is this correct?
Frank,
Congratulation for your choice.
Your question: DT follows a "safe & conservative " logic.
This could be BAL the answer to your question.
AMOF:
your chart is covering the front room ( SA) , which actually isshowing the slight pull back...as well as (SA) & ALL THE WAY BACK to DA where pull back is stronger . So going by the book the trade isn't prfectly in "PHASE"
This does not mean that the trade should not be afforded , but is more "risky" than a perfectly phased setup.
If the retracement isn't harmonyc enough in terms of price & time ratios , DT DOES not tells you to get in , because that retracement COULD BE a different structure : a SOUTH structure , rather than a NORTH structure. It therefore thinks like a seasoned trader: will let you IN only WHEn & IF the trend will be confirmed by a BREAKOUT in the trend direction. Take your measures and you'll find out that very likely the trigger level is...some sensible level within THAT degree.
So the ENTRY level DT is proposing you for that room is the SAFEST.
Actually it tells even more: on cable you have a triple top: triple top aborted... . So the down ward impulse can be interpreted by a trader in different manners, but the SAFEST choiche would be work on the BO. There you will have a triple top (imperfect) breakout by definition an impulsive move which likely will bring you to the target .
FrankC Wrote:Hi,
I subscribed to DT yesterday, and like to share some of my trading experience/comments/questions with this amazing trading tool in this thread.
Below is the bulls-eye on cable in SC room. With current prices at 1.9739, in an hourly chart, not so sure why the trigger price is not on the pull-back, rather on a price breakout! Is this correct?
Thanks Fabrizio for the explanation. The M band is now turning slightly red in SC room. So, I guess this is not a very safe trade entry after all.
Just out of curiosity: Do you see the same trade set-up in room SC as shown in the picture?
Yes Frank , I do see the same profile as you do.
Your trade setup: let's breakdown few points.
- Generally speaking the structure propagate from shortest rooms to the longer. It is logical. In this case the pull back can be just a simple lower degree correction , ready to load up energy and "spring" up towards the entry and the targets . This is the reason why the entry is set on the Break out ( double top respected, ready to attempt a triple top .)
- in this case just dont jump to conclusions too quickly: just monitor cable and see what happen.
- See what already did to your operativity DT: it refrained you from a so so risky entry into a dubious pull back; again , this does not mean that just because isn't in phase (I do take a lot of not perfectly phased trades but I take the risks to....) you should drop the set up. Just give it more time if you like to go by the book. Howevere pound did not got close to the entry so untill that moment...
Conclusion: the opertaor is in front of the screens and he only is responsible for the final decisons from point a to z.
DT can give a winning setup to 10 different individuals: each one will likely came out with a different result: from hefty profit to loss .
Just monitor cable.
Good trade and enjoy this great piece of art.....
Yes fabrizio, a great piece of art indeed. Is it possible to trade without a chart, and only watch the DT Profile?
Cable is one currency to be reckon with...I am now long (@1.9731) based on "the structure."
A small experiment on my part! Got out with a small loss. Better stick with basics.
FrankC Wrote:Yes fabrizio, a great piece of art indeed. Is it possible to trade without a chart, and only watch the DT Profile?
Cable is one currency to be reckon with...I am now long (@1.9731) based on "the structure."
Your question: I can tell you my own personal opinion ( and common sense-
)
I personally would never ever enter a position without my severe charting. One thing is being a floor trader and another is an electronic trader.
FrankC Wrote:A small experiment on my part! Got out with a small loss. Better stick with basics.
Isn't just stick with basics. Is try to understand what the chart is telling you.
You falled in love with the trade....-
By the way you mention was in bulls eye: no it wasn't . The longer the TF the longer it takes for the BULLSEYE to be filled completely ( and viceversa) .... there is the perfect match bet Price and Timing.
Look how my humble words of last night were correct: just give it time. It needed to develop a structure ....ad since is EURO who is leading .... always get a confirmation from EURO ( OR DXC)
What happened? doubnle bottom in euro , Dbottom in GBP
now stopped at 78.6
Set up is asterisk, so must wait.
1.9672 entry is just below 50 pct in an AB=CD move
in the same degree most up impulses are equals, most retracement down are equals,
downward AB=CD
upward AB=CD
gbp is ranging just around the level priorly indicated by dt and now not more on setup.
Quote:Off the records: just via simple charting:
- tgt up 1.9765
- tgt down 1.9585 (another AB=BC or 3drv bottom)
if broken :
- up: double top at previous high 1.9855 via various resistances
- down: double bottom previous low 1.9431 via various supports
Thanks fabrizio for the input. At the moment no signal is showing on British Pound.
As Marc mentioned is his thread:
http://forums.dynamictrend.com/showthrea...320&page=2 : Longer term uptrend is evident in Pound, and the current pullback could give us a buying opportunity. Until that time, I will stay on the sideline.
Frank , Forgive me: I do not give any input. I just show how powerful is this soft
If Properly used.
Aka coupled with a proper trading and analysis education.
Caveat: Always possibility never certainty in this Job.
Marcus did not said that GBP MUST GO UP IN THE LONG TERM NOR THAT WILL.
Marc has shown a frame of a long movie: that frame is showing something may happen.
Step by step , step by step. One level after the other , one geometry after the other.
Good afternoon
- GBP A0-fx close yesterday @ 1.95205 ( max 1.9664, low 1.9497)
- in the short , the tgt up was almost hit(well let's say so -), the tgt down was surpassed.
- if Euro wont overcame a certain level in the slide it will go -LIKELY- up to 1.36 . And so will -LIKELY-run up GBP.
- Trading isn't nuclear science.
- Lot of common sense and hard work is required though.
Good day
Ps:announcement for revised UK GNP 3rd quarter is due by the 21st and very unlikely will be disappointing; what does it means ? is it Uk in EU? yes. Has UK given away its central bank and currency as all the others EU members states and, therefore, its monetary policy? no.
Quote:12-07-2006, 03:09 AM #12 fabrizio
gbp is ranging just around the level priorly indicated by dt and now not more on setup.
Quote:
Off the records: just via simple charting:
- tgt up 1.9765
- tgt down 1.9585 (another AB=BC or 3drv bottom)
if broken :
- up: double top at previous high 1.9855 via various resistances
- down: double bottom previous low 1.9431 via various supports
--------------------
read Marcus carefully!!!!!!!!!!!!!!!!!!!!!