{quote} EURCAD Week 27 ME/ME trades Jul 04. Took my trade entry when Tokyo open today. ME trade distance 0.5ADR 100 which is abut 33 pips, round down to 30pips distance with TP every 30pips. So far, taken 90pips profits. {image}
- #80,561
- Jul 4, 2017 8:07am Jul 4, 2017 8:07am
- #80,566
- Jul 4, 2017 3:00pm Jul 4, 2017 3:00pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Emm, you still using Prev Week Fibo + BN Levels for H4 swing trading?
I use the BN levels and look at the previous price action PPA for support/resistance, reversal points, consolidation areas, etc..
The weekly pivot levels I use is based on price volatility and not the traditional calculations. There are so many different pivots formulas - Standard, Camarilla, Fibonacci, Woodies, etc. Which is the correct one? How can any of these provide you the edge in winning?
For example EURCAD this week already hit 40% of its weekly market volatility. If the strength of CAD is strong this week, it should hit 60% and even 100%.
Most weeks, the market will hit 40% of it weekly volatility.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #80,567
- Jul 4, 2017 3:06pm Jul 4, 2017 3:06pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Hello everyone, Decided to give this system a try. First trade, audusd short 4H 10 pm pacific time, closed for +24 pips at 6 am pacific. Currently also long on USDCHF Daily TF, we will see how it pans out. How many charts do you guys watch, the preferred 8 Big E mentioned in one of his earliest posts? -Sheep
just one ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #80,568
- Jul 4, 2017 3:12pm Jul 4, 2017 3:12pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
{quote} Hi, Even when you make mistakes you are still making pips. UNCONSCIOUS COMPETENCE?
Hi,
just look back to my notes this morning,
what happened was the trade manager MEME default was set to 0.5ADR but when I saw the limit order placed on my chart, it was too wide apart from the first order and the initial SL. I checked the % retracement level and decided to chnage the order limit distance. I simply changed that limit order distance so that I can have more ME limit orders by halving the setting on my screen. LOL.
so fare this trade went well and collected 150 pips in that down move.
now wait for it tot be choppy to be able to build more ME trades.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #80,572
- Jul 4, 2017 7:05pm Jul 4, 2017 7:05pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Short positions EURCAD GBPCAD Any idea{image}{image}
both pairs are pick for this month opening.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #80,573
- Jul 4, 2017 7:28pm Jul 4, 2017 7:28pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #80,574
- Jul 4, 2017 8:03pm Jul 4, 2017 8:03pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #80,576
- Jul 4, 2017 9:44pm Jul 4, 2017 9:44pm
{quote} I use the BN levels and look at the previous price action PPA for support/resistance, reversal points, consolidation areas, etc.. The weekly pivot levels I use is based on price volatility and not the traditional calculations. There are so many different pivots formulas - Standard, Camarilla, Fibonacci, Woodies, etc. Which is the correct one? How can any of these provide you the edge in winning? For example EURCAD this week already hit 40% of its weekly market volatility. If the strength of CAD is strong this week, it should hit 60% and...
i will studying this now. Btw, for weekly pivot level that you used, i found it very interesting as dynamic S/R level - #80,577
- Edited Jul 5, 2017 12:39am Jul 4, 2017 10:39pm | Edited Jul 5, 2017 12:39am
{quote} I use the BN levels and look at the previous price action PPA for support/resistance, reversal points, consolidation areas, etc.. The weekly pivot levels I use is based on price volatility and not the traditional calculations. There are so many different pivots formulas - Standard, Camarilla, Fibonacci, Woodies, etc. Which is the correct one? How can any of these provide you the edge in winning? For example EURCAD this week already hit 40% of its weekly market volatility. If the strength of CAD is strong this week, it should hit 60% and...
It good for target TP with style entry using PAC5SMMAHighLow+TDI moderate in conservative way?
i read several post about H4 swing trading from you, very interesting
- #80,578
- Jul 5, 2017 12:14am Jul 5, 2017 12:14am
- Joined Nov 2008 | Status: Trader | 50,185 Posts
{quote} wow, thanks Emm
TMS traders learn to look at previous price action PPA with the HA candles and with the BN levels, with these you can spot the reversals much easier with PPA.
My Weekly pivot uses the market weekly volatility to calculate the levels 40%, 60% and 100% ( also the 120%) and use these for trade target instead of support/resistance. Always look the price swing on the H4 and know when the weekly swing high and swing low are using the BN levels and PPA.
Whe the market is trending, you will most often see only either a swing low for bullish trend or a swing high for the bearish trend. This one reason many people who try to pick the tops and bottoms for correction trading get caught in drawdowns for days and weeks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #80,579
- Jul 5, 2017 12:16am Jul 5, 2017 12:16am
- Joined Nov 2008 | Status: Trader | 50,185 Posts
A valid H1 entry for GBPCAD.
But some cautious traders may not want to take a trade at this hour of the day. They wait for London session.
But some cautious traders may not want to take a trade at this hour of the day. They wait for London session.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
