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Trading Made Simple

  • #87,021
  • Apr 30, 2018 8:11am Apr 30, 2018 8:11am
TMS Monitor for EURJPY

P-Slope value = 3

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Week 18 EURJPY P-Slope 3.png Size: 67 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,022
  • Apr 30, 2018 8:28am Apr 30, 2018 8:28am
^watchdog has it at 3 as well...


gbp/jpy observations

Price is reacting off the weekly master candle high
divergence of price on h1
price has closed and above the pivot
golden cross
pcrf



will it work out?
I shall be watching....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy weekly 30.04.2018.png Size: 21 KB
Click to Enlarge Name: gbpjpy weekly 30.04.2018 p1.png Size: 28 KB
  • #87,023
  • Apr 30, 2018 8:28am Apr 30, 2018 8:28am
Quoting onejester
{quote}
I can't say where without promoting someone else's thread
You serious? Have you read some of the post's lately????? One more wil not break the camel's back.
  • #87,024
  • Apr 30, 2018 10:15am Apr 30, 2018 10:15am
They show up from time to time, you know who they are one is your handbag buddy
'in less than half an hour he made over 100 ticks'
  • #87,025
  • Apr 30, 2018 10:50am Apr 30, 2018 10:50am
Quoting kain775
^watchdog has it at 3 as well... gbp/jpy observations Price is reacting off the weekly master candle high divergence of price on h1 price has closed and above the pivot golden cross pcrf will it work out? I shall be watching.... {image} {image}
Imo , I am looking at further downtrend as a lower swing high was confirmed when the candle closed last week..I put more weight on the swing high candle rather than the MC
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYWeekly.png Size: 35 KB
the cautious seldom err....C
  • #87,026
  • Apr 30, 2018 12:01pm Apr 30, 2018 12:01pm
Quoting pips29
{quote} Imo , I am looking at further downtrend as a lower swing high was confirmed when the candle closed last week..I put more weight on the swing high candle rather than the MC {image}


You may indeed be right for the longer term trend, .. I am no expert though but I thought the swing high would need a lower low there in order to confirm?

price did move 57 pips from where I marked my entry, which would have hit my tp ...so I consider it a success and will do more observations of similar setups

the trade was supposed to be counter trend trade, a quick trade, not long term
  • #87,027
  • Apr 30, 2018 1:02pm Apr 30, 2018 1:02pm
Quoting kain775
{quote} You may indeed be right for the longer term trend, .. I am no expert though but I thought the swing high would need a lower low there in order to confirm? price did move 57 pips from where I marked my entry, which would have hit my tp ...so I consider it a success and will do more observations of similar setups the trade was supposed to be counter trend trade, a quick trade, not long term
I thought you were talking about the weekly and that's why I made those comments..and well done on being successful
the cautious seldom err....C
  • #87,028
  • Apr 30, 2018 1:06pm Apr 30, 2018 1:06pm
Quoting emmanuel7788
Here is a weekend exercise for those who want to use THV CaveManager CM for trade management. Look at the chart below. Assume you entered a buy with bar/candle 1 or 2 and use CM to manage the trade exit with Trail_by_Prev candle low. Which bar/candle will your exit trailing SL be hit? {image}
Candle 12 would be the exit with CM.
  • #87,029
  • Apr 30, 2018 1:09pm Apr 30, 2018 1:09pm
Quoting emmanuel7788
TMS Monitor for EURJPY P-Slope value = 3 {image}
What values should we look at for P Slope and C Slope?

Please advise.
  • #87,030
  • Apr 30, 2018 6:52pm Apr 30, 2018 6:52pm
Quoting kain775
{quote} you were right about this one. The bearish D1 candle formations gazumped my h4 setup I can see why traders like lastingwell preferred to trade with the higher timeframe on their side now... If you get a valid [long] hidden divergence setup on a lower timeframe but the higher timeframe is too bearish ..the trade is unlikely to end well. I shall definitely pay more attention to the higher timeframe in future on hidden divergences.... and on my d1 EJ setup you looked at the weekly, and the weekly was favourable to a short, i did get in on this...

using three timeframes will be higher probability trade... when you see the price action is in synergy in all three timeframes, that where the best trades are with all A+++ conditions fulfilled.

Learn to spot what A+++ trade set-ups.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,031
  • Apr 30, 2018 6:55pm Apr 30, 2018 6:55pm
Quoting Sachu
{quote} Candle 12 would be the exit with CM.


that depends...

I'll PM you the correct answer.

good that you tried. At least I know one member here makes the effort.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,032
  • Apr 30, 2018 7:03pm Apr 30, 2018 7:03pm
Quoting emmanuel7788
{quote} EURJPY is worth a look now with a new H4 open. Look if there is a swing high yet for this week. That same chart I posted early this morning, {image} maybe a quick scalp! {image}
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Week 18 W1 range trading.png Size: 47 KB



so did that quick scalp made money?

Now we shall review what happened yesterday...

remember in many of my posts, I had mentioned many times that the Weekly OHLC are also support and resistance and that we look for CONFLUENCE of various support / resistance for high probability trading.
Price do react at Big Round Number 00 and Round Number 50.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Week 18 May01 H4 update_1.png Size: 63 KB


By the way, this Week's swing price is 132.15.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,033
  • Apr 30, 2018 7:10pm Apr 30, 2018 7:10pm
Thank you emmanuel7788
your chart Clear
you can sharing TMS Monitor
This is the last version
  • #87,034
  • Edited 7:48pm Apr 30, 2018 7:16pm | Edited 7:48pm
Quoting Sachu
{quote} What values should we look at for P Slope and C Slope? Please advise.

@Sachu,

The default Threshold is set to 4 but you can change that to what you want. Remember, beside the TDI Green slope condition, that monitor also check the other 2 TMS conditions and provide a recommendation. DO NOT use this recommendation as trade signal.

You should first look at the price chart and look at the overall price action.
If you have a trade plan prepared and you would know exactly what you will be looking for as trade set-ups.

The TMS Monitor is just use as an alert to screen all the pairs you trade. In my case, I have 20 pairs including XAUUSD which I only trade D1 timeframe.
The rest 19 pairs I trade H4 and D1 every week. I only use the TMS Monitor for alerts send via email.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,035
  • Apr 30, 2018 7:24pm Apr 30, 2018 7:24pm
Quoting lahcenFX
Thank you emmanuel7788 your chart Clear you can sharing TMS Monitor This is the last version

It's in that thread by member arbinka

Post#193

make sure you read the entire thread for all the tips...
https://www.forexfactory.com/showthread.php?t=303347
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,036
  • Apr 30, 2018 7:38pm Apr 30, 2018 7:38pm
WARNING: DO NOT trade blindly following 'trade signal' service.

Example below:
Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Week 18 May01.png Size: 25 KB



Look at your TMS trading charts and make sure you have done your weekend prep work and have your trade plan ready. No trade plan, no trading - SIMPLE RULE.


GBPJPY TMS trading chart below:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Week 18 support and resistance.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,037
  • Apr 30, 2018 7:44pm Apr 30, 2018 7:44pm
GBPJPY Simple Trade Plan - Week 18 Apr 30 to May 04.

Weekly Big Picture .. market range

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Week 18 trade simple plan.png Size: 43 KB


or if you remember Big E post on how to trade on D1 chart, Post#8,703

Quoting eelfranz
I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again. I'll report the results in a week or so... I'll only enter if the candles are medium length or larger... wish me luck ...
Try it and share your experience with us.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,038
  • Apr 30, 2018 9:13pm Apr 30, 2018 9:13pm
Quoting emmanuel7788
{quote} {image} so did that quick scalp made money? Now we shall review what happened yesterday... remember in many of my posts, I had mentioned many times that the Weekly OHLC are also support and resistance and that we look for CONFLUENCE of various support / resistance for high probability trading. Price do react at Big Round Number 00 and Round Number 50. {image} By the way, this Week's swing price is 132.15.


that weekly bar does not meet the specifications of a WRB [there are bigger bars in the last 3/4 bars] and it does not meet the specification of a master candle because the bars are not completely inside it so why are you using the bar high and low as a valid resistance/support??
  • #87,039
  • May 1, 2018 2:14am May 1, 2018 2:14am
Quoting kain775
{quote} that weekly bar does not meet the specifications of a WRB [there are bigger bars in the last 3/4 bars] and it does not meet the specification of a master candle because the bars are not completely inside it so why are you using the bar high and low as a valid resistance/support??

you must be SPECIFIC when you define Wide Range Bar WRB. Its either 3 or 4, it cannot be 3/4.

WRB is the largest price bar/candle in a consecutive 3 bars/candles.

the same for Master Candle [3] which are the most frequent occurring. There are other MC MC[4] and MC[5]. A MC[4} will always show as MC[3] first before it becomes a MC[4]. You know the logic here?

Both WRB and MCs are applicable in all chart timeframes.

In the the Weekly timeframe, there are WRB which are also Weekly Control Candle WCC (by strat).

But not all WCC are WRB. Do you know the difference?

In my EURJPY Weekly chart, that was not a MC[3] but a WCC, and the WCC high-low are support/resistance. Same as for WRBs.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #87,040
  • May 1, 2018 2:31am May 1, 2018 2:31am
Quoting emmanuel7788
how to trade on D1 chart, Post#8,703 {quote}
emmanuel
That is wrong. Post#8703 not how to trade on D1
Quoting eelfranz
I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again. I'll report the results in a week or so... I'll only enter if the candles are medium length or larger... wish me luck ...
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