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Trading Made Simple

  • #29,681
  • Jan 22, 2014 3:18pm Jan 22, 2014 3:18pm
Quoting Drewas
{quote} Been tough trading the EURJPY the last couple of days. Has been bouncing between 200 ema (almost to the pip) and 800 ema/round number. {image} Will wait for price to breakout of that channel me thinks. Patience is something you admire in the driver behind you and scorn in the one ahead.
It might have been a tough day but at least it was very sunny on your chart
  • #29,682
  • Jan 22, 2014 3:54pm Jan 22, 2014 3:54pm
Quoting lastingwell
{quote} It might have been a tough day but at least it was very sunny on your chart
Living in the UK any form of sun is appreciated
We're all just one trade away from humility.
  • #29,683
  • Jan 22, 2014 4:05pm Jan 22, 2014 4:05pm
Quoting emmanuel7788
AU 22 Jan Data release in about one-and-half hours. Look at H4 charts, what do you see? an inverse H&S perhaps. There should be many seller stops above. On D-chart we see an indecisive day. Two key price levels - 0.8770 and 0.8860 D candles not convincing for bullish reversal and the previous days last week were down. Week bias in down.

AU .. a new Day soon in 2 hours.

Yesterday, we had the H4 inverse Head and Shoulders for a bullish play.
And I said the D candle was not convincing for a reversal.
And we saw how the market reacted to better domestic data.
The 2 key levels - 0.8770 and 0.8860 played out this week so far.
Where did today' high hit? ... Look left. That resistance level is very prominent.

With the bullish candle today, you have to decide whther you want to be buyer or seller when Tokyo open in 2 hours.
The TDI on D crossed UP ....

Attached Image (click to enlarge)
Click to Enlarge Name: AU D chart practice.png Size: 38 KB


Hint: SYD_2H Range
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,684
  • Jan 22, 2014 4:12pm Jan 22, 2014 4:12pm
Quoting emmanuel7788
{quote} AU .. a new Day soon in 2 hours. Yesterday, we had the H4 inverse Head and Shoulders for a bullish play. And I said the D candle was not convincing for a reversal. And we saw how the market reacted to better domestic data. The 2 key levels - 0.8770 and 0.8860 played out this week so far. Where did today' high hit? ... Look left. That resistance level is very prominent. With the bullish candle today, you have to decide whther you want to be buyer or seller when Tokyo open in 2 hours. The TDI on D crossed UP .... {image} Hint: SYD_2H Range...

What I see on my H4 chart is that its going down but I dont have enough confirmation to sell it.
Will not trade this pair now.
  • #29,685
  • Edited 4:59pm Jan 22, 2014 4:16pm | Edited 4:59pm
Quoting Helanka
Today my EURJPY H1 trades,no profit today & lost -29 pip. Pls advise me about my 1 st lost trade -27 pip & other lost trades. I think I have to practice a lot. Thanks Helanka {image}

Helanka:

Hindsight is 20:20 vision
In hindsight, I can write a 500 words post why those trades ended in loss.
But just to keep it simple, we must always be extra cautious when we trade in the shadow and when the day traded range has dropped below 90pips for this pair.
You can't get 50pips so easily unless you can execute trades perfectly with those setups.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,686
  • Jan 22, 2014 4:26pm Jan 22, 2014 4:26pm
Quoting snshne
{quote} What I see on my H4 chart is that its going down but I dont have enough confirmation to sell it. Will not trade this pair now.

The average traded range for the last 100 days is 70pips. yesterday was exceptional, it did +103pips then pulled back to Tuesday' high.

Today is China PMI data, this will impact Aussie. The PMI forecast is very marginally better than the previous one.
If the final PMI comes out much better, then we may see another push at yesterday resistance 0.8886 or the high of the current D candle.
Buy low if we want to be buyers.

Edit: add chart

Attached Image (click to enlarge)
Click to Enlarge Name: AU support and resistance.png Size: 38 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,687
  • Jan 22, 2014 5:13pm Jan 22, 2014 5:13pm
Hello guys, someone took this today?
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh1.png Size: 35 KB
  • #29,688
  • Jan 22, 2014 5:23pm Jan 22, 2014 5:23pm
pretty interesting thread. Will come up tomorrow by US open time to participate with you folks thanks for trying to give back to FF
So sorry for always replying late! But I got 2 Jobs!!
  • #29,689
  • Jan 22, 2014 5:27pm Jan 22, 2014 5:27pm
what is trading in the shadow? one PM asked me.

well, we hear of candles with upper and lower wicks.

but I am old school and I call them shadows instead.

Attached Image


In Steve Nison' Candlesticks studies, the shadows tell us a story of buyers and sellers, their fear and their greed.

As traders, we must know when we are trading in the shadow(s).
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,690
  • Jan 22, 2014 5:30pm Jan 22, 2014 5:30pm
Quoting Muhammad Ezz
pretty interesting thread. Will come up tomorrow by US open time to participate with you folks thanks for trying to give back to FF

Hi Muhammad,

Good that you drop by. See you when NYO. I will be awake then

What is the difference between a heart surgeon and a motorcar mechanic?

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,691
  • Jan 22, 2014 5:36pm Jan 22, 2014 5:36pm
Quoting emmanuel7788
{quote} Hi Muhammad, Good that you drop by. See you when NYO. I will be awake then What is the difference between a heart surgeon and a motorcar mechanic? regards, EMMANUEL

The Motorcar Mechanic can't fix the car while it's On .... this is a really old joke man still love it .... C ya when NYO .... Regards
So sorry for always replying late! But I got 2 Jobs!!
  • #29,692
  • Jan 22, 2014 5:52pm Jan 22, 2014 5:52pm
Congratulations on your new MD, Dr. Ezz!
My favorite crochet hook is size J. It's a J-Hook!
  • #29,693
  • Jan 22, 2014 5:53pm Jan 22, 2014 5:53pm
Quoting Valentinik87
Hello guys, someone took this today? {image}
I did but on EUR/CAD. Same thing, news candle. Buy stop on last previous resistance and watched M5 for manual exit. Got out with around 100 pips. Nothing to do with a trend or TMS. Check a bit more left on the chart, you'll see an identical move for roughly same ammount of pips. Look further back and then switch to daily and zoom out - what's happening to CAD?
  • #29,694
  • Jan 22, 2014 5:54pm Jan 22, 2014 5:54pm
Quoting Helanka
{quote} Thanks a lot for your reply & it was a good advice. If you can pls share below details aswell. When you see a good price action setup with TDI confirmation in h1 time frame. 1) Do you check Higher time frame(H4/D1) before take that trade? 2) if you check Higher time frame what kind of thing do you check? 3) Do you check Lower time frame(M5/M15) before take that trade? 4) if you check Lower time frame what kind of thing do you check? Thanks Helanka
Hi Helanka,

Check out these videos, watch each video twice if necessary. It will in essence answer all you need to know.

http://www.protradenetwork.com/categ...aining-videos/
  • #29,695
  • Jan 22, 2014 6:09pm Jan 22, 2014 6:09pm
EJ 23 Jan Tokyo Open:

With the D1 close just beaking above the 10D EMA, it looks good.
And that D Inside Bar with TDi cross, that is my setup candle.
But when and where do I buy?

Attached Image (click to enlarge)
Click to Enlarge Name: EJ 23 Jan D candle close.png Size: 64 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,696
  • Jan 22, 2014 6:18pm Jan 22, 2014 6:18pm
AU 23 Jan

News trading with TMS:

Attached Image (click to enlarge)
Click to Enlarge Name: AU SYD_2H 23 Jan PMI.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,697
  • Jan 22, 2014 6:33pm Jan 22, 2014 6:33pm
Quoting emmanuel7788
EJ 23 Jan Tokyo Open: With the D1 close just beaking above the 10D EMA, it looks good. And that D Inside Bar with TDi cross, that is my setup candle. But when and where do I buy? {image}
If conservative, wait for a close above the "choppiness"; if aggresive, place a buy stop order above it (or buy near resistance if the momentum looks strong). Or semi-aggresive, judge the momentum around ten minutes before H1 candle close and decide to manually enter or not.

EDIT - plan B if bought aggresive and price starts to pull back - watch lower M15 for a reversal signal and exit with loss, and possibly trade the pullback.
  • #29,698
  • Jan 22, 2014 6:59pm Jan 22, 2014 6:59pm
Quoting emmanuel7788
EJ 23 Jan Tokyo Open: With the D1 close just beaking above the 10D EMA, it looks good. And that D Inside Bar with TDi cross, that is my setup candle. But when and where do I buy? {image}
i would think sometimes during london time during retractment around 141.30.
my thinking is because in the 15m chart, EJ just bounce again on 141.80 level, the hourly might not close above it (4mins before bar close when i write this post)
so if anything i will short and treat this pair as in range trading like yesterday.
however, if i am to short this pair now, my tp realistically will be 141.30 the low of US session. and sl at 141.9
but i rather watch AU, it may be turning down again
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym15.png Size: 98 KB
Daniel
  • #29,699
  • Edited 8:56pm Jan 22, 2014 8:44pm | Edited 8:56pm
Hey all. My first TMS trade after I've been studying price action for a long while. Looking good!

Quick 40 pips on EJ M15. Classic TDI bounce/cross. I watch it closely when price reached 800 EMA from below. It didn't bounce back much so I let it run and hit my TP.
Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #29,700
  • Jan 22, 2014 11:20pm Jan 22, 2014 11:20pm
waiting for tdi cross, patient..
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 105 KB
be patient and don't be greedy
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