Richard Hill Forex Net Trap

[bombettor]

Aah.. as soon as I closed by order at 0 pips.. the cable shot up!!

 

[mark120169]

]

yeah, just gonna delete it, and got "sorry, this order is being filled" or some such message. think i will let it run....

Could be good. Price just hit the 3 Ducks MA60 on the 1 hr chart. It is above the MA60 on the 4 hr and 5 min chart. So almost at the good to go consideration for 3 Ducks trade, and we are already in.

If it can get above 348 which is the last recent high on the 1 hr chart it has a good chance to keep going up. 350 would be prefered entry for 3 Ducks traders.

M

 

[Tanguero]

Sold @ 15344.6 SL 20 x1.5 size TP 85 - down to my s3.

 

[thelurker1]

I was on VNT entry today and it triggered

 

[mark120169]

Sold @ 15344.6 SL 20 x1.5 size TP 85 - down to my s3.

Sold? Good luck. 3 Ducks is now breached 350, so that says good to go 3 Ducks long. I'm SL to B/E if it hits 356.

M

 

[Dubai]

So far GU acting exactly as thought. Clean bounce off 1.5350. I'd consider a long if it can close cleanly above it.

 

[peterf1966]

Sold? Good luck. 3 Ducks is now breached 350, so that says good to go 3 Ducks long. I'm SL to B/E if it hits 356.

M

Still in from my VNT entry at 8.24......Tangs 85 might be too ambitious, I'd be out of that now! Back at the S4 from earlier...TBH I wish I'd have exited at 350, not got too much time to look at it today.:|

 

[stevepatt]

When you get a chance check out the Stochastic Indicator great for indicating when the market is over sold or over bought. I find it very accurate when used with other indicators. Check it out on YouTube or just Google it.

 

[mark120169]

When you get a chance check out the Stochastic Indicator great for indicating when the market is over sold or over bought. I find it very accurate when used with other indicators. Check it out on YouTube or just Google it.

Looks very similar to RSI but with two lines rather than one. Will read up on this later, but RSI is often good at showing oversold &overbought too.

M

 

[peterf1966]

Still in from my VNT entry at 8.24......Tangs 85 might be too ambitious, I'd be out of that now! Back at the S4 from earlier...TBH I wish I'd have exited at 350, not got too much time to look at it today.:|

And that just shows WTF I kknow! Just stopped out for -30, ******s!

And well done Tang!

 

[Tanguero]

When you get a chance check out the Stochastic Indicator great for indicating when the market is over sold or over bought. I find it very accurate when used with other indicators. Check it out on YouTube or just Google it.

What timeframe and what settings do you use?

 

[Melb]

Looks very similar to RSI but with two lines rather than one. Will read up on this later, but RSI is often good at showing oversold &overbought too.

M

As is pretty much any oscillator - Have to be careful with over bought and over sold conditions in their own rights though... Many times the oscillator will indicate strongly that a price is over bought/sold only for the price to hit new highs/lows Of course one tactic that is *very* lucrative and produces a high r/r trade is the divergence trade... But oscillator divergence strategies are a big subject - well worth investigating though...

 

[Tanguero]

When you get a chance check out the Stochastic Indicator great for indicating when the market is over sold or over bought. I find it very accurate when used with other indicators. Check it out on YouTube or just Google it.

Not a very good advice to a Nutter. NT is a trend and b/o strategy, this is exactly where stoch gets stuck most of the time!

 

[Tanguero]

And that just shows WTF I kknow! Just stopped out for -30, ******s!

And well done Tang!

Thanks Pete, moved my SL to 15295.

 

[stevepatt]

What timeframe and what settings do you use?

I use 15m timeframe and when the Stochastic is looking over sold or bought I look for other indications like pin candles, S/R lines or big numbers 00,50 etc for the bounce.
You can also use the %K line crossing the %D line and the wider the gap becomes the better and just go with it untill the Stochastic goes to the other end of the scale.
It works best on long ranging markets like today.

 

[mark120169]

Thanks Pete, moved my SL to 15295.

Well done. Stopped out too for -40! That's a -35 scaled for me today...ouch. Still have the ETX cover and now sitting on -£58 for 6 trade days so hopefully should not end these last two weeks at a loss if bad NT form continues.

M

 

[Tanguero]

I use 15m timeframe and when the Stochastic is looking over sold or bought I look for other indications like pin candles, S/R lines or big numbers 00,50 etc for the bounce.
You can also use the %K line crossing the %D line and the wider the gap becomes the better and just go with it untill the Stochastic goes to the other end of the scale.
It works best on long ranging markets like today.

Ranging markets. Interesting. In the NT context, this would mean that when there is such market at hand, the stoch is overbought and the NT is bullish, there should be no trade?

Did you have this picture in the morning? 6am, my gut was telling me go short but finally I got tempted by NT 2:0 to go for a quick long before going properly short. Messed up as a result.

 

[peterf1966]

Well done. Stopped out too for -40! That's a -35 scaled for me today...ouch. Still have the ETX cover and now sitting on -£58 for 6 trade days so hopefully should not end these last two weeks at a loss if bad NT form continues.

M

To be fair to NT, it should have been in at 8.24, and out at 8.30 for about -6 or 7 pips. Feeling very pissed off with myself, 1 the order triggered just as I went to delete it!, 2 Made the descision to stay in, 3. even worse nearly closed for a decentish profit at about +16. I'm just glad I'm still at £1 pip...old endowment now gone, awaiting cheque, and the Ovlov is ready to go to. Thats about 6K due...add to my bank it's £7500k, so at 2% we're on £5 a pip.

Hmm, someone talk me out of it will you!

 

[thelurker1]

Apologies, this is because I only use 8am to 10pm numbers i.e. highs and lows within the London and NY sessions. I should be more careful when quoting those; somethimes those are the same as the usual ones, sometimes different. In the morning, I rarely remember what I was doing the evening before, not a surprise I get confused myself.

Is there a particular reason why you these numbers?

Cheers

 

[pips ahoy!]

currently price was bumping along below S4 level, which I have at 310, and only just rising to it about now.

Peter,

Are you sure about S4 @ 310 today? I have the same S4 level on advanced charts, using the code provided by gbdru2 on here last week, but all the CAM levels are identical to Fridays levels.

Looks like my formula must be wrong, it seems to be using Thursday's data to calculate CAM levels for both Friday and today.

Thanks, Matt.