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Trading Made Simple

  • #80,841
  • Jul 16, 2017 11:53am Jul 16, 2017 11:53am
Quoting andreiu
{quote} what indi is this?
BN Level Indicator
  • #80,842
  • Jul 16, 2017 11:55am Jul 16, 2017 11:55am
Quoting Jaizy
Hey guys, I've been reading some info on the big picture plan and have been doing my best to put it in application. What I see so far is that by putting the line graph on my chart and drawing a s/r at the top and bottom of every spike, I have a lot of line... How do you illimanate some of those line... how to determine what are the most important and so on. ty for your help Here is my bpp for MN, then W1, the red line are MN and the orange are W1 Is it ok? I would love to have your input ty {image} {image}
Mate,
it looks like a grand bull trap to me... A daily reversal NOW is needed to prove this assertion , of course...
  • #80,843
  • Edited 5:02pm Jul 16, 2017 3:04pm | Edited 5:02pm
Planning for the week ahead, here are my observations, feel free to comment/correct as you see fit:

AUDJPY: Bullish stance but Weekly resistance at 88.20 area may be challenging. TDI above 70, downside potential to retest lower 87.60/86.80 levels
AUDUSD: Bullish stance but Weekly resistance at 78.25-78.50 area. TDI above 70, downside potential to retest 77.35/76.80 levels
EURAUD: Same as above, Weekly support at 1.4625 area, could retest 1.48 level but if we break this support, there is a very nice potential ride until 1.40

EURGP: rejection of the Weekly resistance in the 0.8880 area, we closed at around the Daily support at 0.8755. Room for testing 0.8720 and maybe 0.8650
EURJPY: Strong bullish momentum on Weekly, lots of empty space on the upside. 128.50 and 128 may be good Daily supports to get in long
EURUSD: very choppy in my view, will avoid until we break either 1.1520 or 1.1370

GBPAUD: Strong rebound on Weekly support at 1.66-ish, once broken, there is lots of empty space until 1.59
GBPJPY: choppy market, will not touch before we break 147.80 or 145. Even if we break 147.80, strong Weekly resistance at 148.50
GBPUSD: we closed above a solid Weekly resistance at 1.3050, room for upside until 134-134.50 but retest of the 1.30-1.3050 area likely

USDJPY: Cautiously bearish, 111.80 may be a first target

I am overall bullish on AUD, bearish on USD, cautiously bullish on GBP, neutral on EUR and JPY until the market shows some direction

Hope this helps, and please, please, feel free to comment if you disagree
  • #80,844
  • Edited 5:38pm Jul 16, 2017 5:26pm | Edited 5:38pm
Quoting darko2010
EURJPY: Strong bullish momentum on Weekly, lots of empty space on the upside. 128.50 and 128 may be good Daily supports to get in long
Entered long EURJPY on H1 at 129.14, initial target 129.50, [email protected]
  • #80,845
  • Jul 16, 2017 5:57pm Jul 16, 2017 5:57pm
Quoting darko2010
{quote} Entered long EURJPY on H1 at 129.14, initial target 129.50, [email protected]

Buy is good.

Between 128.00 and 131.20 can be choppy way up on D1.
Listen to news and market events this week and next.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,846
  • Jul 16, 2017 5:59pm Jul 16, 2017 5:59pm
Quoting darko2010
Planning for the week ahead, here are my observations, feel free to comment/correct as you see fit: AUDJPY: Bullish stance but Weekly resistance at 88.20 area may be challenging. TDI above 70, downside potential to retest lower 87.60/86.80 levels AUDUSD: Bullish stance but Weekly resistance at 78.25-78.50 area. TDI above 70, downside potential to retest 77.35/76.80 levels EURAUD: Same as above, Weekly support at 1.4625 area, could retest 1.48 level but if we break this support, there is a very nice potential ride until 1.40 EURGP: rejection of the...


Very good job. Thanks for sharing this.

The hardwork is usually done on the weekend and this will make trading during the week much easier having done our homework and have a trade plan ready.

Edit. Just to add that the 3 COMMOD currencies AUD, CAD and NZD are stromg for several weeks and remains strong. Listen to the London markets closely for things to change.

Good trading and Trade Well!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,847
  • Jul 16, 2017 6:08pm Jul 16, 2017 6:08pm
Quoting emmanuel7788
{quote} Buy is good. Between 128.00 and 131.20 can be choppy way up on D1. Listen to news and market events this week and next. Good Trading!
Thanks Emmanuel, I appreciate the encouragement. Entering long above 129.70 would have been probably wiser on Daily but a stop at 128.50, and therefore a 120 pips drawdown is too much for me to handle at this stage
  • #80,848
  • Jul 16, 2017 6:18pm Jul 16, 2017 6:18pm
Quoting darko2010
{quote} Thanks Emmanuel, I appreciate the encouragement. Entering long above 129.70 would have been probably wiser on Daily but a stop at 128.50, and therefore a 120 pips drawdown is too much for me to handle at this stage

EURJPY week 29, Jul 17 to 21.

after Wednesday huge drop, last Thursday and Friday were Doji like bars/candlesticks. Friday being and Inside Bar of Thursday.

some traders were euphoric when Wednesday drop and sell, sell, sell....

anything can happen in the market, we are technical traders base our trading decisions on technical analysis and use of indicators. We do not have an edge over the market. So when we are wrong, we simply get out of our trades by following our own rules with discipline.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,849
  • Jul 16, 2017 6:31pm Jul 16, 2017 6:31pm
Quoting Jaizy
Hey guys, I've been reading some info on the big picture plan and have been doing my best to put it in application. What I see so far is that by putting the line graph on my chart and drawing a s/r at the top and bottom of every spike, I have a lot of line... How do you illimanate some of those line... how to determine what are the most important and so on. ty for your help Here is my bpp for MN, then W1, the red line are MN and the orange are W1 Is it ok? I would love to have your input ty {image} {image}

AUDUSD Week 29 MN swing levels:

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Week 29 MN BPP.png Size: 27 KB


when you are trading H4, then look at the Weekly swing levels too. Otherwise when I trade D1, I look at the Mn swing levels and look the price action in D1.

old post #27,200 on Big Picture Planning:
https://www.forexfactory.com/showthr...31#post7068731
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,850
  • Jul 16, 2017 6:48pm Jul 16, 2017 6:48pm
Quoting Tekkies
{quote} No wonder you are confused. Not one of those charts are TMS. But hey, if you want to trade like that good for you.
I have to agree you have to much on that chart. If you can read everything that's great but it looks cluttered IMO.

Why do you have BB on it as they will only confuse your decision making.

Keep it simple APB, PAC or 5EMA, TDI, and maybe a HTF EMA.
Successful people do what unsuccessful people are not willing to do
  • #80,851
  • Jul 17, 2017 12:00am Jul 17, 2017 12:00am
Quoting emmanuel7788
{quote} AUDUSD Week 29 MN swing levels: {image} when you are trading H4, then look at the Weekly swing levels too. Otherwise when I trade D1, I look at the Mn swing levels and look the price action in D1. old post #27,200 on Big Picture Planning: https://www.forexfactory.com/showthr...31#post7068731
Yes. I set to sell 0.01 lot @0.77 and then sell 0.02 lot @0.78, now waiting 0.04 lot to be opened @0.79. A little martingale is the safest way of entries when waiting for big swing, also small trades is the key.
  • #80,852
  • Jul 17, 2017 3:31am Jul 17, 2017 3:31am
This week I am working on 3 pairs gbpaud euraud eurcad all of them just short positions base on weekly trend and signal by H4
  • #80,853
  • Jul 17, 2017 6:20am Jul 17, 2017 6:20am
Quoting mortezakh
This week I am working on 3 pairs gbpaud euraud eurcad all of them just short positions base on weekly trend and signal by H4

All these 3 pairs you picked have potential to make money but you need to plan early when the previous month closed and do your top down analysis and look at the price action from the MN, to the W1 and then look at the D1 to look for trades.

Example below with my EURCAD trades open in Week 27 and ran through Week 28. Now with one open position and one limit order above.
Total trades closed last Friday 34 trades. Total nett 876 pips in 10 trading days.

MN chart when Jun closed, that was a nice BEOB candle closed. So this month July I look for sell trades.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD MN June BEOB.png Size: 36 KB


D1 chart below shows the setup entry on 4 July with TDI cross.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD Week 27 trades closed.png Size: 44 KB


Trades details shown below using H4 for better clarity of the entries and exits.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD Week 27-28 trades closed in H4.png Size: 55 KB


EURCAD has target below - 1.4365.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #80,854
  • Jul 17, 2017 6:23am Jul 17, 2017 6:23am
Quoting emmanuel7788
{quote} All these 3 pairs you picked have potential to make money but you need to plan early when the previous month closed and do you top down analysis and look at the price action from the MN, to the W1 and then look at the D1 to look for trades. Example below with my EURCAD trades open in Week 27 and ran through Week 28. Now with one open position and one limit order above. Total trades closed last Friday 34 trades. Total nett 876 pips in 10 trading days. MN chart when Jun closed, that was a nice BEOB candle closed. So this month July I look...
thanks for sharing
  • #80,855
  • Jul 17, 2017 6:25am Jul 17, 2017 6:25am
Quoting emmanuel7788
{quote} All these 3 pairs you picked have potential to make money but you need to plan early when the previous month closed and do you top down analysis and look at the price action from the MN, to the W1 and then look at the D1 to look for trades. Example below with my EURCAD trades open in Week 27 and ran through Week 28. Now with one open position and one limit order above. Total trades closed last Friday 34 trades. Total nett 876 pips in 10 trading days. MN chart when Jun closed, that was a nice BEOB candle closed. So this month July I look...
Thanks a lot.very helpful for me.
  • #80,856
  • Jul 17, 2017 9:49am Jul 17, 2017 9:49am
Quoting emmanuel7788
{quote} All these 3 pairs you picked have potential to make money but you need to plan early when the previous month closed and do your top down analysis and look at the price action from the MN, to the W1 and then look at the D1 to look for trades. Example below with my EURCAD trades open in Week 27 and ran through Week 28. Now with one open position and one limit order above. Total trades closed last Friday 34 trades. Total nett 876 pips in 10 trading days. MN chart when Jun closed, that was a nice BEOB candle closed. So this month July I look...

Hello,

is this based on your pdf you post in the past? Tibovwh ME/ME? If so, can you discribe it , because i have a hard time to understand it. Or have you a good link with cleaner understanding it?

Thanks.
Perfection is the enemy of good enough!
  • #80,857
  • Jul 17, 2017 11:58am Jul 17, 2017 11:58am
Does someone know where to find information about correlation between currency pairs?
I want to use that to decide if I can trade different pairs independently. I figure that when two pairs are too closely connected then havoc on one trade automatically means disaster in another correlated pair.

Thanks.
  • #80,858
  • Jul 17, 2017 12:28pm Jul 17, 2017 12:28pm
Quoting jansb000
Does someone know where to find information about correlation between currency pairs? I want to use that to decide if I can trade different pairs independently. I figure that when two pairs are too closely connected then havoc on one trade automatically means disaster in another correlated pair. Thanks.
Here is a good discussion about correlations

https://www.forexfactory.com/showthread.php?t=683525
  • #80,859
  • Jul 17, 2017 5:18pm Jul 17, 2017 5:18pm
Quoting emmanuel7788
{quote} Hi Uk1, Few things you must first know. 1) The 10EMA is used instead of the 5EMA, Typical Price, Shift+3 which is part of the 5-Method. there is very little difference between the two moving averages. I prefer the 10EMA and I can use the same timeframes. 2) The basic rule for TMS 5-Method is - buy when the price action is above the 5EMA - sell when the price action is below the 5EMA. The 5EMA is for direction by Big E. Why 10EMA? The power of 10EMA Post#8,528 by...
E, could you be so kindly to share that ATR/Dynamic cutloss indi that is pictured in your post from this past may. I have an ATR channel indi but doesn't seem to work the same.
Trade with confidence, trade without fear.
  • #80,860
  • Jul 17, 2017 6:00pm Jul 17, 2017 6:00pm
Quoting mortezakh
{image}{image}
I close my last week trades
Eurnzd
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH4.png Size: 83 KB
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