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Another simple system - Time-Frame 15

  • #24,301
  • Jun 28, 2015 3:18pm Jun 28, 2015 3:18pm
1 position already hit, another is further down near the flag pole (e/u H1 chart below)
Attached Image (click to enlarge)
Click to Enlarge Name: euh1.png Size: 72 KB
the cautious seldom err....C
  • #24,302
  • Jun 28, 2015 3:34pm Jun 28, 2015 3:34pm
e/y just got hit
Attached Image (click to enlarge)
Click to Enlarge Name: ey.png Size: 54 KB
the cautious seldom err....C
  • #24,303
  • Jun 28, 2015 4:32pm Jun 28, 2015 4:32pm
took 1/4 off on last position and stop at b/e+130..Target moved lower to 1.09274. (H4 chart below)
Attached Image (click to enlarge)
Click to Enlarge Name: euh4.png Size: 77 KB
the cautious seldom err....C
  • #24,304
  • Jun 28, 2015 4:43pm Jun 28, 2015 4:43pm
taken 1/3 off g/u
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.png Size: 63 KB
the cautious seldom err....C
  • #24,305
  • Jun 28, 2015 6:15pm Jun 28, 2015 6:15pm
1 position was taken out for -4 pips. Left with 2 positions and partial profits taken. Both stops are locked in at b/e +11 (total). I won't be trading for the next 20 hours or more as I am going on a day cruise..be careful with euro pairs..stay green
Attached Image (click to enlarge)
Click to Enlarge Name: nu.png Size: 62 KB
the cautious seldom err....C
  • #24,306
  • Jun 28, 2015 6:19pm Jun 28, 2015 6:19pm
H1 g/u chart. I am out of this pair. As I will be away for a day, I won't take a position though it's tempting.., see if you can make use of my chart EDit: price has made a new low
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.png Size: 58 KB
the cautious seldom err....C
  • #24,307
  • Jun 29, 2015 5:41am Jun 29, 2015 5:41am
Hello, guys

I would like to know if the candle close is important in the following case: 10EMA is sloping down and is under the 200EMA (do not take into consideration the other 2 EMAs, or pretend they are in order, between 10 and 200), price pierces the 10 and goes back under it, forming a nice pin. All good, but it closes bullish, under the 10. Forget the TDI now, I am only interested to know if in this situation, the pin bar candle must close bearish for a setup, or if a bullish close is ok, too.

All opinions are appreciated. I would like to receive an answer from Emmanuel also, if that's possible.

Have a very nice trading day, everyone!
Attached Image (click to enlarge)
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  • #24,308
  • Jun 29, 2015 7:12am Jun 29, 2015 7:12am
Quoting catalin_eros
Hello, guys I would like to know if the candle close is important in the following case: 10EMA is sloping down and is under the 200EMA (do not take into consideration the other 2 EMAs, or pretend they are in order, between 10 and 200), price pierces the 10 and goes back under it, forming a nice pin. All good, but it closes bullish, under the 10. Forget the TDI now, I am only interested to know if in this situation, the pin bar candle must close bearish for a setup, or if a bullish close is ok, too. All opinions are appreciated. I would like to receive...

Hi,

that M15 candle you pointed to.
Is that the last M15 candle of the H1?
what do the last 2 H1 candles look like?

look to the left of that chart, I see support which can stop this move down... is there room enough for 15 to 20pips?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,309
  • Jun 29, 2015 9:21am Jun 29, 2015 9:21am
Quoting emmanuel7788
{quote} Hi, that M15 candle you pointed to. Is that the last M15 candle of the H1? what do the last 2 H1 candles look like? look to the left of that chart, I see support which can stop this move down... is there room enough for 15 to 20pips?
Hi, Emmanuel!

I did not check the H1 chart. I didn't know a 15 min candle provides a valid entry only if it is the last candle in the H1 candle.
Also, I did not know that the last 2 hourly candles must be checked. Must they be both bearish for a bearish signal on the 15 min chart? Please clarify what you mean by "the last 2 H1 candles" - do you mean the one that is currently open as the last one, or the last 2 closed candles?

You are right, there seems to be a support area , but I thought we only have to take into consideration the EMAs as support/dynamic support, the slope of 10 EMA, and the round number. Let's pretend that everything is right on the chart, no support area, everything checks on the H1 chart, all EMAs are ok... In this case, when all signs are valid, I need to know if a pin has to close bearish for a sell, or if it can also close bullish, like the one in the example, for a sell order.

Sorry for all these questions, but I need to ask, because many people say it is such an easy and profitable strategy, and I keep sustaining massive losses every day. About 18 losses for 20 trades. So clearly I am not doing it right.

Thanks for taking time to read and answer!
  • #24,310
  • Jun 29, 2015 3:58pm Jun 29, 2015 3:58pm
Quoting catalin_eros
{quote} Hi, Emmanuel! I did not check the H1 chart. I didn't know a 15 min candle provides a valid entry only if it is the last candle in the H1 candle. Also, I did not know that the last 2 hourly candles must be checked. Must they be both bearish for a bearish signal on the 15 min chart? Please clarify what you mean by "the last 2 H1 candles" - do you mean the one that is currently open as the last one, or the last 2 closed candles? You are right, there seems to be a support area , but I thought we only have to take into consideration the EMAs...

Hi,

I may have caused some misunderstanding about the M15 candle and H1 candle.
See my comments on your chart posted.
Attached Image (click to enlarge)
Click to Enlarge Name: catalin M15 post.png Size: 107 KB


Remembr 4 xM15 candles will make a H1 candle. In you chart, the 50EMA and 200EMA are above and very close by. Therefore we should be looking at if the H1 candle will be a bearish one across the 10EMA on H1 which we see as 50EMA on M15 chart.
The best setups are when we have H1 trending and we look for small pull backs on M15 i.e. the setup candle will be the one move away from the 10EMA on M15.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #24,311
  • Jun 29, 2015 5:38pm Jun 29, 2015 5:38pm
got back quite late in the evening and took 3 trades. Entered shorts g/u,n/u and a/u all on the 1 hour timeframe (midway thru' the hour candle based on trendlines , pa and higher time frame trend
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nuh1.png Size: 69 KB
Click to Enlarge Name: Au.png Size: 63 KB
Click to Enlarge Name: guh1.png Size: 67 KB
the cautious seldom err....C
  • #24,312
  • Jun 30, 2015 1:51am Jun 30, 2015 1:51am
Quoting emmanuel7788
{quote} Hi, I may have caused some misunderstanding about the M15 candle and H1 candle. See my comments on your chart posted. {image} Remembr 4 xM15 candles will make a H1 candle. In you chart, the 50EMA and 200EMA are above and very close by. Therefore we should be looking at if the H1 candle will be a bearish one across the 10EMA on H1 which we see as 50EMA on M15 chart. The best setups are when we have H1 trending and we look for small pull backs on M15 i.e. the setup candle will be the one move away from the 10EMA on M15.
Thank you, Emmanuel! Very good explanation!
  • #24,313
  • Jun 30, 2015 3:50am Jun 30, 2015 3:50am
woken up early in the morning by birds and took an e/y short after looking at H4 and liking what I saw .took the trade and went back to bed...Have since taken 1/2 off
Attached Image (click to enlarge)
Click to Enlarge Name: ey.png Size: 56 KB
the cautious seldom err....C
  • #24,314
  • Jun 30, 2015 3:53am Jun 30, 2015 3:53am
a H1 trade
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the cautious seldom err....C
  • #24,315
  • Jun 30, 2015 3:54am Jun 30, 2015 3:54am
n/u trade with little left
Attached Image (click to enlarge)
Click to Enlarge Name: nu.png Size: 58 KB
the cautious seldom err....C
  • #24,316
  • Jun 30, 2015 3:57am Jun 30, 2015 3:57am
another late evening trade yesterday...not giving me much
Attached Image (click to enlarge)
Click to Enlarge Name: Au.png Size: 66 KB
the cautious seldom err....C
  • #24,317
  • Jun 30, 2015 3:59am Jun 30, 2015 3:59am
and finally this trade that has given me nothing so far
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.png Size: 68 KB
the cautious seldom err....C
  • #24,318
  • Jun 30, 2015 4:23am Jun 30, 2015 4:23am
have just entered short and I have to go out now for an hour
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 68 KB
the cautious seldom err....C
  • #24,319
  • Jun 30, 2015 5:57am Jun 30, 2015 5:57am
short added as I am seeing rejection of the 200ema on H1 (H1 chart)
Attached Image (click to enlarge)
Click to Enlarge Name: euh1.png Size: 68 KB
the cautious seldom err....C
  • #24,320
  • Jun 30, 2015 6:02am Jun 30, 2015 6:02am
new short entered as earlier one got taken out (15 min chart). might have gone in a shy too early...never mind..
Attached Image (click to enlarge)
Click to Enlarge Name: ey.png Size: 59 KB
the cautious seldom err....C
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