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Simple Low Risk Price Action Trading w/ TE Results

  • #121
  • Sep 24, 2017 11:05pm Sep 24, 2017 11:05pm
3 losing trades today
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPJPY.PNG Size: 34 KB
Click to Enlarge Name: USDCAD.PNG Size: 29 KB
  • #122
  • Sep 25, 2017 4:41am Sep 25, 2017 4:41am
I would've taken all 3 if I would have been awake. any post mortems?
  • #123
  • Sep 25, 2017 6:38am Sep 25, 2017 6:38am
prospective set up EURJPY? thoughts?
Attached Image (click to enlarge)
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  • #124
  • Sep 25, 2017 7:04am Sep 25, 2017 7:04am
Quoting tonyget
3 losing trades today {image} {image} {image}
Sorry to see that, I checked those trades and the AUD/USD and GBP/JPY didn't have any room on the 1 Hour chart. Both of them were under the 100 EMA and were quite bearish. However the USD/CAD trade did have plenty of room, that one was just unfortunate.
  • #125
  • Sep 25, 2017 7:21am Sep 25, 2017 7:21am
Quoting vikvikram
prospective set up EURJPY? thoughts? {image}
Again be careful on this one because in order to get a safe trade your SL should be over the middle bollinger band and PSAR and if you look at the 1 Hour chart it's very over extended with bullish divergence so I would say it doesn't have much room to go. With having the SL over the middle bollinger band you may not be able to get a 1:1 on this one.
  • #126
  • Sep 25, 2017 7:39am Sep 25, 2017 7:39am
Here are plenty of examples that have 4/4 signals, divergence, and are cross checked. Just do your homework guys and don't just take a trade because you think everything is lining up on one chart. You MUST cross check the trades, especially your 15 minute chart trades. If the signals line up but you're 5 pips away from the 100 EMA on the 1 hour chart, odds are it's going to respect that 100 EMA on the 1 hour over the signals on the 15 minute chart. If you see the signals lining up on the 1 hour chart but the 15 minute doesn't agree, wait for the 15 minute chart to agree with your 1 hour chart trade. This is for maximum efficiency and best risk/reward. Follow the rules and you'll be rewarded by the market.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 092517 EURUSD 1.JPG Size: 290 KB
Click to Enlarge Name: 092517 NZDUSD 1.JPG Size: 265 KB
Click to Enlarge Name: 092517 USDCHF 1.JPG Size: 256 KB
Attached Image
  • #127
  • Edited 8:09am Sep 25, 2017 7:50am | Edited 8:09am
Quoting Embry1
Here are plenty of examples that have 4/4 signals, divergence, and are cross checked. Just do your homework guys and don't just take a trade because you think everything is lining up on one chart. You MUST cross check the trades, especially your 15 minute chart trades. If the signals line up but you're 5 pips away from the 100 EMA on the 1 hour chart, odds are it's going to respect that 100 EMA on the 1 hour over the signals on the 15 minute chart. If you see the signals lining up on the 1 hour chart but the 15 minute doesn't agree, wait for the...
I took the NU 1H trade, it's now 25pips+ GREEN at the moment.
Attached Image (click to enlarge)
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  • #128
  • Sep 25, 2017 8:01am Sep 25, 2017 8:01am
Possible long entry on GBP/USD on the H1 chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 09_25_17_GBPUSD_H1.JPG Size: 86 KB
  • #129
  • Sep 25, 2017 8:08am Sep 25, 2017 8:08am
Quoting yohec
Possible long entry on GBP/USD on the H1 chart. {image}
That's not a valid long for this strategy. Price has already crossed down through the EMA 100 and middle bollinger band, and the PSAR is below both as well. Check the 15 minute chart and you'll see this trade would be against you and even more on the short side. I wouldn't consider this a trade I would want to take. Also you're well below a safe 1:1 risk/reward.
  • #130
  • Sep 25, 2017 8:38am Sep 25, 2017 8:38am
to make sure I'm clear pls take a look at H1 & M15 attached - looks ripe on M15 but H1 is overextended? thx
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2017-09-25_M15_eurusd.png Size: 42 KB
Click to Enlarge Name: 2017-09-25_H1_eurusd.png Size: 43 KB
  • #131
  • Sep 25, 2017 8:44am Sep 25, 2017 8:44am
Quoting vikvikram
to make sure I'm clear pls take a look at H1 & M15 attached - looks ripe on M15 but H1 is overextended? thx {image} {image}
It's quite overextended like the EUR/JPY. I think you may have something once it pulls back more on the 1 hour chart but on that 15 minute chart you don't have a valid 1:1 risk reward to make that possible. You could try to get a very small scalp from stoch 70 to stoch 30 but those just aren't worth it to me. You'd have to put your SL above the middle bollinger band. This one would be a 3/4 but I woulnd't say it's very strong due to the 1 Hour chart it needs time to pullback.

I'm always happy to answer any questions, but obviously I won't be able to answer in time for most of these, nor should you solely rely on my advice because I'm wrong too sometimes. I would study the charts I post because those are always going to be the ideal setups and sometimes less than ideal but those will always have another reason for entry that I'll explain.
  • #132
  • Sep 25, 2017 9:18am Sep 25, 2017 9:18am
any current interest in audusd short?
  • #133
  • Edited 10:01am Sep 25, 2017 9:21am | Edited 10:01am
Quoting vikvikram
any current interest in audusd short?
Looking at that and EUR/GBP short.

EDIT: Looks like that AUD/USD short went pretty well, I snagged some pips from that one on live but this NK news just ruined my EUR/GBP trade and I took that one on live and demo.
  • #134
  • Sep 25, 2017 9:40am Sep 25, 2017 9:40am
I've actually seen a lot of great setups on the EUR/CHF lately and here's another one that I just missed because it setup just before I woke up this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: 092517 EURCHF 1.JPG Size: 139 KB
  • #135
  • Sep 25, 2017 9:59am Sep 25, 2017 9:59am
Quoting Embry1
If you see the signals lining up on the 1 hour chart but the 15 minute doesn't agree, wait for the 15 minute chart to agree with your 1 hour chart trade. This is for maximum efficiency and best risk/reward. Follow the rules and you'll be rewarded by the market.

thanks for the advise, when you say two timeframes have agree each other, do you mean 8/8 line up ?
  • #136
  • Sep 25, 2017 10:11am Sep 25, 2017 10:11am
Quoting tonyget
{quote} thanks for the advise, when you say two timeframes have agree each other, do you mean 8/8 line up ?
No not at all, that will rarely ever happen. Just make sure that you have enough room on the 1 Hour chart for your trade to work and if you're entering on the 1 hour chart, watch the 15 minute chart for your entry.
  • #137
  • Sep 25, 2017 10:42am Sep 25, 2017 10:42am
Embry1,
Please advise if you get it in time.
Been in this trade for about 5hrs,SAR has gone against me so im thinking if candle closes below the middle bolinger I will then have a 2/4 trade.
Would that be a good time to close out and take what profit I have ?
I have moved stop once so its not in original place.

UPDATE:came out 5pips below middle b/b
Attached Image (click to enlarge)
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  • #138
  • Sep 25, 2017 10:53am Sep 25, 2017 10:53am
Quoting nihilist23uk
Embry1, Please advise if you get it in time. Been in this trade for about 5hrs,SAR has gone against me so im thinking if candle closes below the middle bolinger I will then have a 2/4 trade. Would that be a good time to close out and take what profit I have ? I have moved stop once so its not in original place. {image}
Yeah I think you missed your exit there. I know it didn't quite reach the stoch 70 but this is another example of cross checking the trade. Just after that first large green bar when you entered there was an overextention on the 15 minute chart with bearish divergence. That would have gotten me out of the trade for sure, but maybe another entry if you see another setup on the 15 minute chart. You can also see a big red candle wick after the large green bar, that would definitely alert me to check out the 15 minute chart for an exit.

Also this was a pretty good spot and a good use of understanding the technique involved for this strategy. The PSAR and middle bollinger are actually below the EMA 100 however you have great bullish divergence and it obviously touched the middle bollinger and PSAR and got rejected into a bull move so good work.
  • #139
  • Sep 25, 2017 11:04am Sep 25, 2017 11:04am
I had left that running as I need to be somewhere so wasn't around to get out.Closed out with a profit so not all bad.
Thanks for feedback,I will look back analyze it now with your pointers in mind.
  • #140
  • Sep 26, 2017 6:55am Sep 26, 2017 6:55am
I took this awesome USDCAD trade few hours ago
Attached Image (click to enlarge)
Click to Enlarge Name: 8895b921936bad6a1d89eabd711156c6.png Size: 40 KB
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