Here we go again.
Post#647
Post#647
- #87,621
- Jun 5, 2018 5:52am Jun 5, 2018 5:52am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
- #87,623
- Jun 5, 2018 8:50am Jun 5, 2018 8:50am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
- #87,625
- Jun 5, 2018 8:29pm Jun 5, 2018 8:29pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Hindsight is 20/20 but we can all learn from POMO and know when and where to trade.
Just a few key points:
look at previous high or low and where current PA is,
look at the OHLC of Weekly to see if there is possible CONTINUATION of the Weekly price bar/candle since we are in early part of the week,.
look at CONFLUENCE of various common used support and resistance - W1 and D1 OHLC, 10/50/200 EMAs, price BN 00 and 50 levels
look at both the short term and long term trend, when trading H1, the short term trend is H4 and long term trend is D1,
look for the nearest most recent consolidation area, what did the market do with that consolidation area, did it breakout for example?,
when you see a set up, look at the HA candle, are the previous candles small?
look at the HA candles on the reversal, if big candles and small candles, is there strong price momentum that can push price in favour of the reversal?
*** in narrow range sideways market type, Do Not trade against the H4 PA and TDI.
Keep It Simple rule: Trade away for the Day Open, away from the 50/200EMAs, you will miss a few trade setups but you will win more and lose less.
Just a few key points:
look at previous high or low and where current PA is,
look at the OHLC of Weekly to see if there is possible CONTINUATION of the Weekly price bar/candle since we are in early part of the week,.
look at CONFLUENCE of various common used support and resistance - W1 and D1 OHLC, 10/50/200 EMAs, price BN 00 and 50 levels
look at both the short term and long term trend, when trading H1, the short term trend is H4 and long term trend is D1,
look for the nearest most recent consolidation area, what did the market do with that consolidation area, did it breakout for example?,
when you see a set up, look at the HA candle, are the previous candles small?
look at the HA candles on the reversal, if big candles and small candles, is there strong price momentum that can push price in favour of the reversal?
*** in narrow range sideways market type, Do Not trade against the H4 PA and TDI.
Keep It Simple rule: Trade away for the Day Open, away from the 50/200EMAs, you will miss a few trade setups but you will win more and lose less.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,626
- Jun 5, 2018 8:51pm Jun 5, 2018 8:51pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Start of the Week,
look at how the pairs closed in the previous week, easy to decide your trading bias - buy or sell.
D1 chart
H4
H1
look at how the pairs closed in the previous week, easy to decide your trading bias - buy or sell.
D1 chart
H4
H1
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,627
- Jun 5, 2018 8:55pm Jun 5, 2018 8:55pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
AUDUSD Jun 06 nice breakout of H1 CONSOLIDATION
one of my favourite SYD_2H trade
what is SYD_2H?
these are my favourite pairs to trade in the morning when SYDNEY / TOKYO hours.
one of my favourite SYD_2H trade
what is SYD_2H?
these are my favourite pairs to trade in the morning when SYDNEY / TOKYO hours.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,628
- Jun 5, 2018 10:14pm Jun 5, 2018 10:14pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,629
- Jun 6, 2018 2:17am Jun 6, 2018 2:17am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
AUDUSD Week 23 Jun 06
When and Where No to trade...
H1 reacts at the current week high which is resistance, although H1 TDI shows cross down, I would not take that as a sell trade as both the short term and long term trends - H4 and D1 show TDI Green above Red.
WAIT for buy price action setup with momentum. We want to enter a trade with price momentum and so that price moves quickly into profit in the next 2 to 3 bars/candles.
When and Where No to trade...
H1 reacts at the current week high which is resistance, although H1 TDI shows cross down, I would not take that as a sell trade as both the short term and long term trends - H4 and D1 show TDI Green above Red.
WAIT for buy price action setup with momentum. We want to enter a trade with price momentum and so that price moves quickly into profit in the next 2 to 3 bars/candles.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,630
- Jun 6, 2018 2:25am Jun 6, 2018 2:25am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
- #87,631
- Jun 6, 2018 2:27am Jun 6, 2018 2:27am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
How to trade Swing Points and Pin Bar
same website above
https://www.forexschoolonline.com/tr...ersal-signals/
You will see the same Swing Points and Pin Bar on your TMS 5-Method chart template and with the use of the APB/HA candles and the 5EMA Typical Price, Shift+3, these helps us to visualize the swings much easier.
Example EURUSD D1 chart below.
In an established trend and a pull back then that Pin Bar at BRN 1.2000 is the setup to sell. 5EMA shows the direction.
same website above
https://www.forexschoolonline.com/tr...ersal-signals/
You will see the same Swing Points and Pin Bar on your TMS 5-Method chart template and with the use of the APB/HA candles and the 5EMA Typical Price, Shift+3, these helps us to visualize the swings much easier.
Example EURUSD D1 chart below.
In an established trend and a pull back then that Pin Bar at BRN 1.2000 is the setup to sell. 5EMA shows the direction.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,632
- Jun 6, 2018 2:35am Jun 6, 2018 2:35am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
- #87,633
- Jun 6, 2018 2:41am Jun 6, 2018 2:41am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
How to trade Swing Points and Pin Bar same website above https://www.forexschoolonline.com/tr...ersal-signals/ You will see the same Swing Points and Pin Bar on your TMS 5-Method chart template and with the use of the APB/HA candles and the 5EMA Typical Price, Shift+3, these helps us to visualize the swings much easier. Example EURUSD D1 chart below. In an established trend and a pull back then that Pin Bar at BRN 1.2000 is the setup to sell. 5EMA shows the direction. {image}
- #87,635
- Jun 6, 2018 6:18am Jun 6, 2018 6:18am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
{quote} Trade opened purely (i think) upon your rules (teachings)
- #87,637
- Jun 7, 2018 7:56am Jun 7, 2018 7:56am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
EU: Daily TF
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #87,638
- Jun 7, 2018 7:57am Jun 7, 2018 7:57am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
- #87,640
- Edited 10:55am Jun 7, 2018 8:32am | Edited 10:55am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
{quote} Thanks for your reply Tekkies! I entered on the last red bar on the chart, I think it is classed as the second bar? Ive attached a pic below with an arrow showing which bar i entered on. The tdi crossed over, took a loss of 18-20pips so not 35pips as price did come down slightly with my short. {image}
----------
If willing to risk apply post#647 again before closing order.
Look at lower time frame maybe M1 or M5 is already going down again.
______
You have enter on Bar 2 after the cross over.
Post#115............... A Normal entry is when green crosses red on the TDI (and you can actually see the green on the other side).
edit:
