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Trading Made Simple for Day Charts

Quoting Britpip7
No problem - Day charts are by their nature slow to develop, but when they confirm are usually good for at least 100 pips.

GU looks to have a strong resistance developing at 1.6100 and EU is following the pattern - patience.

Maybe a pending sell stop at at 1.6075?

However, with the RSI 10 moving back to the 50 level, watch for the 3 amigos to establish another mini range - possibly reversing back to their highs of a few weeks ago.

EU could well be rejecting the 200ema and this would give a possible range of 400 pips
Thanks so much - I'll keep watching and waiting .
good to see this thread still going
Quoting kingclarence
good to see this thread still going
Hi King - how's the trading going?
"To live with Passion, it takes Courage and Grace to survive"
Things have been going good lately.Decided i was gonna demo trade for a whole year and master the Tms.The main thing i see that i need to work on is staying in my trades longer
Quoting kingclarence
Things have been going good lately.Decided i was gonna demo trade for a whole year and master the Tms.The main thing i see that i need to work on is staying in my trades longer
Often a challenge - especially where the trade reverses 100+pips and your SL gets hit. Even though I have had a bunch of those on B/E trades, the results are still good.

One thing to look at is when you do get stopped out, watch for the re-entry, as opposed to immediately trading the reversal - there seems to be more of that happening in the current market.

Not been trading the past two weeks - too many distractions - no point in trading if your brain is distracted - should be back to it next week.
"To live with Passion, it takes Courage and Grace to survive"
Open Close Open Close

Cad/Jpy 80.053 80.396 10-4-12 10-5-12

Gbp/Jpy 127.131 127.125 10-4-12 10-5-12

Eur/Aud 1.25920 1.26758 10-2-12 10-3-12

Aud/Usd 1.02581 1.01861 10-2-12 10-3-12

Gbp/Cad 1.58356 1.58885 10-1-12 10-3-12

These are my trades for the last week.The 50 pip loss i had is because i got out too soon
Quoting kingclarence
Open Close Open Close

Cad/Jpy 80.053 80.396 10-4-12 10-5-12

Gbp/Jpy 127.131 127.125 10-4-12 10-5-12

Eur/Aud 1.25920 1.26758 10-2-12 10-3-12

Aud/Usd 1.02581 1.01861 10-2-12 10-3-12

Gbp/Cad 1.58356 1.58885 10-1-12 10-3-12

These are my trades for the last week.The 50 pip loss i had is because i got out too soon
i'd love to see the charts
"To live with Passion, it takes Courage and Grace to survive"
When all of the signals are heading in one direction and the Price Action stalls, it can be very powerful to wait for the next move.

Once the PA has paused for several candles look for a Fractal High break as the next re-entry opportunity.

This one gives you over 300pips in a week and if you drop down to the H4 for Add-On Candles, many more are available.

Hope this helps
Attached Images (click to enlarge)
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"To live with Passion, it takes Courage and Grace to survive"
au 200 ema broken

aud index generally weaker this week - broken through the support zones
Attached Images (click to enlarge)
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"To live with Passion, it takes Courage and Grace to survive"
Crossing my fingers
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Forex is boring but profitable with patience and discipline :waiting:
Quoting prftablefool
Crossing my fingers
Looks like a nice exercise in pip farming
"To live with Passion, it takes Courage and Grace to survive"
GB showing signs of heading lower despite all the current talk of the recession is over and "green shoots of recovery".

GBP index is in a very tight range of 150 pips for the day chart, so expect a breakout.

If Fractal Low is broken, the RSI 10 will drop below 50.
Attached Image (click to enlarge)
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"To live with Passion, it takes Courage and Grace to survive"
Quoting Britpip7
GB showing signs of heading lower despite all the current talk of the recession is over and "green shoots of recovery".

GBP index is in a very tight range of 150 pips for the day chart, so expect a breakout.

If Fractal Low is broken, the RSI 10 will drop below 50.
Hope you managed to get in on this one
Attached Image (click to enlarge)
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"To live with Passion, it takes Courage and Grace to survive"
Please BRITPIPS, this is a trade i entered yesterday, the trade meant all the conditions, a color change and a good cross, RSI10 approaching 50 and candle closea above the 5 ema. pls give your professional thought on this trade.
Attached Image (click to enlarge)
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Please give your thought on this chart, is it a perfect long trade set up?
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Hi Britpip and fellow traders,

Been paper trading your system for a couple of weeks now with some interesting results. Whilst I haven't read the entire thread, looking at your ideal setup on page 1, there's one requirement I don't understand.

'PA moves with ATR(1) at 75% or higher of ATR(7)'

PA of course is price action, however I haven't been able to figure out how to interpret its relationship with the ATR, so would appreciate some enlightenment in this area.

As an aside, you mention other time frames. Being very visual, I've found it useful to have both a day chart and a week chart open at the same time. Helps determine if the day signal is valid.

Cheers
Please BRITPIP and the rest fellow traders, this thread have not been contributed to for so many weeks now, please try and make it lively for the new and upcoming traders to learn, please. its a great thread.
Quoting Esosa
Please BRITPIP and the rest fellow traders, this thread have not been contributed to for so many weeks now, please try and make it lively for the new and upcoming traders to learn, please. its a great thread.
BRITPIPS we need you in the house.
Quoting Esosa
Please BRITPIP and the rest fellow traders, this thread have not been contributed to for so many weeks now, please try and make it lively for the new and upcoming traders to learn, please. its a great thread.
BRITPIPS we need you in the house.
@ Buttonjock, let me give it a try . . .

suppose E/U is giving a TDI cross at 1.30 and ATR(7) at that moment is 160 pips. The current candle close (ATR(1)) should be 75% of 160 = 120 pips up or down when compared to yesterday's close. In case of an upswing, it should be at 1.30 + 120 pips = 1.3120 .

But let Britpip answer more detailed or precise, he is the one who started this thread and thought out this system, these rules are his brainchild.

Britpip, please come in here, we need you!

Regards, Jos
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