Trading Made Simple

Quoting emmanuel7788

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{quote} USDJPY Week 07 Feb 15 update: Nice move yesterday but that 'bounce' off BRN 107.00 in lower timeframe got some traders thinking that it was buying. Now we watch carefully that D1 candle which closes across the level 106.28, usually were 'big candles'. May happen today, if not then the following days. The target 105.00 still in sight. {image}

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Quoting Tekkies

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{quote} What target in what year? (Report From 2015.01.01 until 2018.12.31.)

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Quoting emmanuel7788

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{quote} the Report From 2015.01.01 is default in the Trade Report indicator. however, if you set the Custom Period in your Account History to a specific date, it will show in the Trade Report according to the Custom Period.

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Quoting emmanuel7788

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{quote} USDJPY Feb 15 near closing time and it looks like it is a big candle and closing below 106.28. I was not predicting but when the market is trending, this happens 80% of the time that the D1 will close across those MN swing levels. This week is ending soon, so we may not see it hit 105.22. If it does, I would be very happy to take all my profits and walk away. Now we watch that BRN 106.00. How much will it 'bounce'? But, don't jump in and start buying yet. Too early to start buying. WAIT! {image}

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Quoting emmanuel7788

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{quote} WOW! I see a lot of information on your chart. Quite a few places where you can average up your trades lock profits as you follow the wave.

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Quoting Sachu

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{quote} Hi Emm, I believe you have Mtly, Wkly & Daily Swing levels? Any more? What colour code are you using for these Levels? Cheers! Sachu

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Quoting nigpig

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{quote} Thanks for this gem of knowledge. Just watch me mess up again lol

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Quoting emmanuel7788

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{quote} For trading long term Positions, use only the Monthly swing levels. There are historical swing levels (usually go back to several months) and there are recent swing levels, the most recent ones is important for me to pick where I would buy of sell. The historical levels are my targets. After you have identified the MN swing levels, you then drop down to the Weekly and look for the market type/conditions. Monthly and Weekly updates and planning you do every week after the market is closed. The Daily is where you will do most of the hard work.......

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Quoting emmanuel7788

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{quote} looking at the Weekly, it is interesting how the market move into gray areas of WRBs , some traders believe in 'stop hunting' so they trade without stop loss, while some other traders believe it is how the market works in knowing where to fill orders. {image}

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Quoting Sesamstrasse

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{quote} After a proper view I decided it´s too risky to trade this pair in any direction. I should have join it a couple of weeks earlier for long. A good entry would have been around "70"-- final TP around 0.73-07350. Everything above has longer wicks in weekly and a hard reverse in direction 0.70 or deeper. I have no reason for a short as well, no clear picture, no entry for me.

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Quoting Sachu

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{quote} Thanks a lot for that candid explanation and the indication of a Master Bull Candle.

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Quoting bythepound

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@Emmanuel, I am still getting the hang of taking trades based on the engulfing candle method. I marked these charts with a yellow line with my interpretation of the "rules" in this case. Are these valid and would you have/have not chosen the same entries (without the advantage of upper TF analysis)? Note, I try to trade away from the market base line. {image} {image} {image} {image} {image} {image}

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Quoting bythepound

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@Emmanuel, I am still getting the hang of taking trades based on the engulfing candle method. I marked these charts with a yellow line with my interpretation of the "rules" in this case. Are these valid and would you have/have not chosen the same entries (without the advantage of upper TF analysis)? Note, I try to trade away from the market base line. {image} {image} {image} {image} {image} {image}

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Quoting emmanuel7788

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{quote} USDJPY Feb 15 near closing time and it looks like it is a big candle and closing below 106.28. I was not predicting but when the market is trending, this happens 80% of the time that the D1 will close across those MN swing levels. This week is ending soon, so we may not see it hit 105.22. If it does, I would be very happy to take all my profits and walk away. Now we watch that BRN 106.00. How much will it 'bounce'? But, don't jump in and start buying yet. Too early to start buying. WAIT! {image}

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Quoting emmanuel7788

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{quote} like you said, M30 is 'lot of noise' so why risk your money trading with the noise? if you are a newbie, then my suggestion is to start trading like Big E when he was a newbie back in 2008. Use the same template he posted here: https://www.forexfactory.com/showthr...76#post4431776 and read all his posts from 2008 to 2011. Master trading looking at the price action and the price momentum, look at support and resistance on your trading charts. Know which trend you are trading - the shotr term trend and the long term...

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