How to use Support and Resistance Effectively - page 39

[XKR1962]

Hi Starfish,

bubbles reply to Malcik ref how he trades.

"trade 60 min and upwards ,trade only with the trend on the HTF, why all the effort trading 5,15when a few good trades on the 60m will give you more than enough pips and less stress."

I also remember reading that a confirmation of trends in the upper 2 tf's would indicate a better propability of a good trade but only the next higher tf (i.e. 4hr) is mandatory.

I have always believed bubble just used the 15 min tf to confirm an entry point for the 1hr tf.

I hope that helps.

Daryl

[XKR1962]

Hi Folks,

I took what I thought was a debatable long trade today but it paid off. The trade was in the 60min tf with the 4hr looking to me like the trend was down yet the daily tf looking to me like the trend was up.

Anyway with the target being about 90 pips and the stoploss being about 20pips the risk reward seemed ok. (I'm trading a demo account)

Have a look and rip me to bits if needs be.

P.S. drop into fxitfx's chat room.

Daryl

[Starfish]

XKR1962:

Have a look and rip me to bits if needs be.

What is it with this negative talk?

Snappy name you've got there though, XKR1962......

Here is what I see, others may see something else, and frequently do. In fact, if anyone has a different idea for what the trend is doing, say so, because I am just trying to learn here.

My swing point count says daily trend is down, 4 hour trend is up, but price hasn't passed the last swing high, and the 60 min trend is up. So, it looks like you traded in the direction of the next higher time frame. As you say, good risk reward - looks like job's a good'un to me. How did you enter? On a buy limit? Or manually? Or did you go to a lower time frame and look for some kind of price action entry? And where did you put your stop? Questions, questions..

[XKR1962]

Starfish,

thanks for taking the time to create those charts. If they are correct, and I think they look good, then I got 1 trend out of 3 correct and like you say the trade was good, not just luck.

Thanks again.

P.S. there are a few of us trying to learn to trade Bubbles system in fxitfx's chat room, all are welcome to join us. The more the merrier.

Goto paltalk.com "bubble fx room"

Thanks again to Bubble. If I don't bugger things up today your system will have added about 700 pips to my demo account. In the past any pips I made were virtually all luck.

[XKR1962]

Hi Folks,

plenty of profitable trading opportunities again Friday using Bubbles methods, my favourite being the last of the day, spotted by fxitfx just before he finished for the week and left the "bubble fx room".

I took 90 pips from that trade, thanks fx.

Keep posting folks. Have a great weekend everyone.

Come back bubble

[downunderdave40]

Trend vs Direction

XKR1962:
Starfish,

thanks for taking the time to create those charts. If they are correct, and I think they look good, then I got 1 trend out of 3 correct and like you say the trade was good, not just luck.

Thanks again.

P.S. there are a few of us trying to learn to trade Bubbles system in fxitfx's chat room, all are welcome to join us. The more the merrier.

Goto paltalk.com "bubble fx room"

Thanks again to Bubble. If I don't bugger things up today your system will have added about 700 pips to my demo account. In the past any pips I made were virtually all luck.

I just wanted to point out that even though you may have an overall up or down trend on a 4 hr chart you can trade from the hourly chart with the short term direction of the 4 hr chart. Meaning that if you have a down trend on the 1 hr chart and the short term direction is down on the 4 hr you can take that trade. The short term down direction in the 4 hr chart maybe a pullback until the overall up trend resumes. I think these trades are a bit more difficult to execute and most newbies would be better off waiting until price hits support and starts to go up so they are trading with the overall longer term trend again. As I have learned having the patients to wait for the resumption of the trend is easier said than done.

[XKR1962]

Hi Dave,

yes I see what you mean. I guess the more you trade the easier it will become to identify the less obvious trades.

I am demo trading this system at the moment using a couple of accounts, one for low risk trades, and the other for less obvious trades, this way I find it is easier to keep track by saving charts and notes of what I have done, right or wrong.

Also I am demo trading as many bubble setups as humanly possible finding the more I trade it the clearer it becomes.

Continuing this thread and debating good or bad trade setups is helping me enormously. Thankyou.

[XKR1962]

Nice Bubble trades today

Great week again trading bubbles system.

One of which was this long trade spotted by fxitfx, today on the eur/jpy.

The green, downward trade, wasn't taken as it hadn't bounced twice on the houly chart. One to watch next week though.

[giraia_br]

what is the moment to use the trend following indicator? is not to entry (buy) after the first bar up after the second retest?

swing = 123 movement?

thanks

[XKR1962]

Hi giraia_br,

sorry , not sure what you are asking.

There's a few of us currently debating bubbles methods and spotting potential trades live on paltalk. Why not join us, more heads are better than one.

bubble fx room