Spike Bar Indicator - page 2
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Improved Indicator
Hi.. Yusuf
my understanding was about extra long bars "SpikBars", its lead to TRENT if not broken, if the BULL bar formed then it leads to UP Trend, and BEAR bar to DOWN...
your explanation was very good, and after your explanation it is more intrusting for me to watch this system, please keep post charts to make more confidance about this trading system
check new version indicator it is improved, and let me know if require more changes maybe add auto trendlines etc.
HI... Yusuf
Thanks for posting charts, i visited that site its seem good trading system i am going through its videos and other information
please keep post, one thing is it possible to mark horizontal lines where they start, just because it will more helpfull to understand for new to this trading strategy.
Eurusd 19-06-2009
Hi Arshad,
Please find attached the chart for Thursday and oncoming Friday Trading Session. Try to identify these levels w.r.t. price histories and the wonderful Spike Bar indicator you have developed. Use one hour chart and keep Range at 80 and look back period 500. As you can see price already bounced back from closer to 1.3866 area as marked on the chart. Upside resistances also marked on the chart. 1.4040 to 1.4057 may play important role if the market ever reaches there.
Best regards
Yusuf SHAIKH
Interesting
Hi.......Yusuf
its interesting, but spike bar and spp/res relation is not clear to me, it may take time to clear
i red some basic articals on nobrainer site, its similar to "bubble method" so far but still sound very attention grabbing
Thanks
Arshad Qureshi
Eurusd - 22-06-2009
Hi Arshad and all Fellow Traders,
Kindly find the attached chart for EURUSD for possible trade set-ups on 22.06.2009. These levels are marked as what I see the PA been doing in the past and is purely on anticipation. Hope this may help myself and many others to grasp the concept as I am looking forward to trading it on DEMO to practice it till a point where I have enough confidence on it. I trade 1 contract at a time as that is the max that I can afford. I trade it on Currency Futures where 1 Tick movement is equivlent to USD 12.50 and I am at anything between 15 to 20 pips on first strike (almost 187.50 to 250.00 USD per trade). I try taking 2 such trades the entire session and once achieved then I call it done for the day and prepare for the next day. This may look a bit conservative but I believe restricting my profit target has given me quick results and healthy returns than aiming at 40 or 100 pips gain at once. I am facing some problems now after I increased my TP to above 40 nd was doing well when I used to take profit after anything that was above 15 pips. Hope these charts will help in the days to come.
Happy trading and success to all of you,
Yusuf SHAIKH
EURUSD - 22-06-2009 - Update1
Hi All...
Looking for the orders at updated levels.
Happy Trading,
Waiting.......
waiting for your chart m looking regularly
26-06-2009
Hi Arshad...
Sorry for delayed chart updates. I am not trading even on DEMO due to spread of Viral flu in Australia and unfortunately we reside in Melbourne, VICTORIA being the worst affected state for flu. Also we are moving back to India due to health conditions of my 3 kids and hence last few days we were busy packing stuff. I hardly get a chance to sit and commit myself but I try to work out with some intermediate levels for quick scalping. I am posting you the probable charts for today. Now listen as per my belief, 1.4113 is still Resistance for EUR and the beauty is it might give a false breakout above 1.4113 till upto 1.4130 to 1.4135 and in the next hour retest uptil 1.4113 and fall again to confirm that 1.4113 hold good as resistance. if not then I have 1.4268 followed by 1.4362 as levels to play for some good action. Today was the day to play with 1.3981 and 1.4012. I missed 1.3981 but I got into 1.4012 after initially missing it by 1 pip (my order was not hit by 1 pip) so I have to enter at a small retracement at 1.4020 to make some quick gains but still in Demo as I am gaining on confidenece with it. I will keep checking these posts and update with charts as someone is still interested in the concept. Once I am settled in India with my internet connections and all other stuffs, I will become regular in trading and commitment which is anticipated by then end of July 2009. One more thing. I have noticed these days EUR is bouncing off the intermediate levels than the major levels and giving excellent results (anything more than 25 pips per trade), examples are levels 1.3981 and 1.4012 levels for today. So you can have a look at such intermediate level as well and wait for the price to settle down as confirmation before entering. Most of the times you always get a second chance.
You take care Arshad and let me know how you are going. I will update again on Monday.
Happy trading,
Yusuf SHAIKH
Eurusd
Hi Yusuf.....
At 1st good wishes for you and u'r family
thanks for your chart these levels are good, I know about these levels but i never gv importance to these levels, now it seems very important
I have not much experience in Forex and also new in coding
Anyway i want 1 thing on chart if possible where the level is start from ?
Attached chart illustrate what i want, and please comment about my chart
Cool...
Arshad,
I understand what you mean. I will try to give you ideas as how and where these levels are picked from in terms of their histories wherever possible on the chart that I will post henceforth. Your chart looks good and the levels marked appropriately based on most recent and past activities. This is what I was talking about. FYI Arshad, I am not the author or master of such trading style and feel myself just in the process of developing such skills as I liked it very much. Whatever I develop with this as the basis will be posted in this thread for the benefit of you and many other traders. Hope we get the success. My main aim is not big profit but lower drawdowns that always wins over my emotions and that is something I want to take control over.
Cheers,
Yusuf SHAIKH