Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #55,302
- Mar 27, 2015 3:32am Mar 27, 2015 3:32am
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #55,303
- Mar 27, 2015 3:44am Mar 27, 2015 3:44am
{quote} {quote} {image} Hi, about your EURNZD trade: - there was no consolidation seen in H4, What is consolidation? How do we look for consolidation? What do we use? - D1 is sideways in a range since last week, not trending. 1 or 2 bullish D1 candle does not mean the trend is UP. Zoom out on your chart to see the bigger picture. when we want to enter the market based on H4 chart candles, then the H4 chart timeframe is our entry Timing Chart. Our Setup Chart is the Day chart, and our Trend Chart is the Weekly chart. we need to study and understand...
Please share those ten things we must need to know and see them on our chart ....
Thanks in advance
- #55,308
- Mar 27, 2015 6:20am Mar 27, 2015 6:20am
According to synergy pro book average price bar arrows that are green will not turn red, they will turn yellow and then red. Similarly for the red arrows they would turn yellow before turning green. Page 16 of 70 of synergy pro ebook. However from screen shot this is not the case and green are turning red directly and vice versa. Can any TMS expert advise. {image}
The yellow arrows indicate a drop in momentum of the APB. In your screen there is no momentum show the arrows won't show. Try it on a chart with more price movement.
What chart and TF are you showing.
cheers
Never argue with a fool; onlookers may not be able to tell the difference.
- #55,310
- Mar 27, 2015 7:36am Mar 27, 2015 7:36am
Took 2 trades today on EUR/AUD. Missed good movement on GBP pairs, so took only EA. First trade was very risky, usually i don't like to enter after such a big candles, especially if this big candle is FO candle. But after price bounced of EMA10 on M15, i decided to take it, also risk was small, so i entered. Closed after 3-bottom formed on H1 and also divergence. Entered long after price broke the previous inside bar. TP was 50 pips, but price stopped before it, so decided to take what i have and not to give pips back to market.
- #55,311
- Mar 27, 2015 8:32am Mar 27, 2015 8:32am
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #55,312
- Mar 27, 2015 8:40am Mar 27, 2015 8:40am
{quote} Hi, The APB is an indicator derived from the real price. The master candle trading will work only with the real Price Bar or Japanese candlestick. regards,
Regards
- #55,313
- Mar 27, 2015 8:49am Mar 27, 2015 8:49am
- Joined Nov 2008 | Status: Trader | 50,185 Posts
{quote} There are ten things we as TMS traders must have the skills to see them on our charts. Do you have those skills developed yet? Please share those ten things we must need to know and see them on our chart .... Thanks in advance
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #55,317
- Mar 27, 2015 3:53pm Mar 27, 2015 3:53pm
{quote} ouch!
{quote} Nicely one Toledo, it is scary how similar our thought processes are recently. I too, hesitated at LO after the huge drop by FO but ended up taking the trade also. Unfortunately, this was a set-and-forget trade for me, so I wasn't around to see the triple bottom form and price turn to the upside. Nice catch on the upward move though. I hadn't noticed the divergence you mentioned. Keep up the green pips!
Divergences are working very well for me recently. That's a very and very great tool, if to use it like confirmation and addition to TMS on any timeframe.
- #55,320
- Edited 7:04pm Mar 27, 2015 6:45pm | Edited 7:04pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
{quote} Hi emmanuel, i think it's much safer to wait for a retrace on a lower TF and reconfirmation before getting in. But if we really need to jump in at market open; i would say around 120 pips SL, close to 61.8 fib retrace. even though usually a safe SL would be on on top of the candle before (daily in this case would be @131.50) i think if the price retrace more than 100 pips, it has already invalidate a short term bearish move. So really, if i need to make a choice, i will wait and observe lower TF before making my decision. not to mention,...
Hi,
It is a good approach when trading the higher TF charts to wait for a retracement entry. However, doing so we may miss an entry when there is no deep retracements.
Trading higher TF charts like D1 and W1, we need to look at position building during the retracements. this is one way to mitigate risks and to get a better overall average entry price.
But in this EURJPY example above, we had a D setup candle, but because there is a Master Candle seen on the D chart, I will not take any D chart setup but will trade the lower TF like H4 and H1.
The other reason for my decision is that we are in the month end and we saw the market pull back from a Historical level 126.40. We are trading the MN shadow. There is a Weekly candle which set a range market. See if you can spot that Weekly candle.
Both these chart conditions helps me define the market type which I am trading in.
Deciding there will not be any new D chart trade, I took some trades on H1. Tokyo morning session was very narrow and I use that to look for continuation of the previous bearish candle. There was a threat i.e. the US GDP data release and this is another big mover of the market.
I close my sell trade and took a buy when that happened.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett