Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,802
- Jun 19, 2018 8:15pm Jun 19, 2018 8:15pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
USDCAD Week 25 Jun 20 H4
A very strong bull rally since last week... and the price broke out of the BB upper band and continued to rally.
2 small pauses (note the TDI cross down once and another bounce) but the rally continues and
now we start to stalk this pair and wait for the right moment - WHEN and WHERE to sell. Not yet ready for sellers.
TMS traders must learn to WAIT for the best setups.
If we sell high, then add-on trades by selling higher, ... our trading account will run into floating drawdown which can last for days and weeks.
Where do you place your initial stop loss for Position Sizing? Where do you Cut-Losses?
A very strong bull rally since last week... and the price broke out of the BB upper band and continued to rally.
2 small pauses (note the TDI cross down once and another bounce) but the rally continues and
now we start to stalk this pair and wait for the right moment - WHEN and WHERE to sell. Not yet ready for sellers.
TMS traders must learn to WAIT for the best setups.
If we sell high, then add-on trades by selling higher, ... our trading account will run into floating drawdown which can last for days and weeks.
Where do you place your initial stop loss for Position Sizing? Where do you Cut-Losses?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,803
- Jun 19, 2018 10:30pm Jun 19, 2018 10:30pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Weekly Trading Range
Some TMS traders look at the Average Weekly Range when they trade the 4H swing on weekly basis. Often we see the market will pause during period when the market liquidity is low, for example after the London session closed and also during the first half of the Asian session. these are periods where we look at the LOCATION of the price and what it does. We do not assume that it will reverse at those LOCATIONs when the market liquidity is low but rather waitand see if more buyers and sellers join in the market.
Looking at the current week high and knowing where the current week low can go using the Average Weekly Range is a good technique used by many TMS traders.
Same examples posted above but now seeing where the W Range Low.
'Dead Cat Bounce' can happen anywhere and these are not reversals.
Bounce can happen at PPA Previous Price Action support and also can be seen to happen when market liquidity drops.
Some TMS traders look at the Average Weekly Range when they trade the 4H swing on weekly basis. Often we see the market will pause during period when the market liquidity is low, for example after the London session closed and also during the first half of the Asian session. these are periods where we look at the LOCATION of the price and what it does. We do not assume that it will reverse at those LOCATIONs when the market liquidity is low but rather waitand see if more buyers and sellers join in the market.
Looking at the current week high and knowing where the current week low can go using the Average Weekly Range is a good technique used by many TMS traders.
Same examples posted above but now seeing where the W Range Low.
'Dead Cat Bounce' can happen anywhere and these are not reversals.
Bounce can happen at PPA Previous Price Action support and also can be seen to happen when market liquidity drops.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,804
- Jun 19, 2018 10:42pm Jun 19, 2018 10:42pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
USDCAD Week 26 Jun 20
Here another view of USDCAD, price pauses near the BRN 1.3300 and the Weekly Range High is still room to go.
We shall see what happens today and the next 2 days till this week closes.
Before it collapses as some guru predicts day-in day-out in FF, something else has to happen and we will see it first and not try predict where market will reverse and start selling high. sell more higher and suffer account drawdown for weeks even up to 3 months.
Here another view of USDCAD, price pauses near the BRN 1.3300 and the Weekly Range High is still room to go.
We shall see what happens today and the next 2 days till this week closes.
Before it collapses as some guru predicts day-in day-out in FF, something else has to happen and we will see it first and not try predict where market will reverse and start selling high. sell more higher and suffer account drawdown for weeks even up to 3 months.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,806
- Jun 20, 2018 8:09am Jun 20, 2018 8:09am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
Buy GBP Support Zone ✔ TDI ✔ Stochastic ✔ Yellow MA ✔ Price looks tired to fall. Initial Stop Loss : 1.3141 Potential Target Price : 1.3268 Emergency Exit : TDI Flat/Hook/Checkmark {image}
- #87,807
- Jun 20, 2018 8:15am Jun 20, 2018 8:15am
{quote} Bounce Entry. {image}
This is means good?
We are in same direction trade here.
I saw your trade bounce on M15
And im trade cross on H4
Maybe this one will end well.
If i add fibonacci weekly pivot, it look nice too.
It look want to rotate at S61.
- #87,808
- Jun 20, 2018 8:48am Jun 20, 2018 8:48am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
{quote} Hi Tekkies, This is means good? We are in same direction trade here. I saw your trade bounce on M15 And im trade cross on H4 Maybe this one will end well. If i add fibonacci weekly pivot, it look nice too. It look want to rotate at S61. {image}
edit: Green has checked mark already
edit 2:
- #87,810
- Jun 20, 2018 9:29am Jun 20, 2018 9:29am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
{quote} What your opinion about that H4 cross up? Looks like we are have different view here.
- #87,812
- Jun 20, 2018 12:03pm Jun 20, 2018 12:03pm
Buy GBP Support Zone ✔ TDI ✔ Stochastic ✔ Yellow MA ✔ Price looks tired to fall. Initial Stop Loss : 1.3141 Potential Target Price : 1.3268 Emergency Exit : TDI Flat/Hook/Checkmark {image}
Small profit.
Plus 2 pips.
Cut trade fast (emergency exit) when TDI flat.
- #87,815
- Jun 20, 2018 6:12pm Jun 20, 2018 6:12pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} 50 ema,sma.any shift? could you be more specific please
I think that member meant the TDI level 50 on his chart.
But if you want to use moving averages on the price, then they are 10EMA, Close, 50EMA,Close Price and 200EMA,Close Price , ... all set to Shift=0.
below that old chart posted.
note his change in the TDI line colours ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,816
- Jun 20, 2018 6:50pm Jun 20, 2018 6:50pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,817
- Jun 20, 2018 7:05pm Jun 20, 2018 7:05pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
{quote} Ok, then we have different view here. I trade what i saw. Nice trade man.
Exactly what Big E said:
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,818
- Edited 7:49pm Jun 20, 2018 7:32pm | Edited 7:49pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
USDCAD Week 25 Weekly Marubozu.
one trader highlighted this to me earlier and I thought I share this in this forum for you to learn what the Marubozu candlestick is.
we previously discussed this in the other M15 thread by LE1.
Buy the dips in an established uptrend .
A bullish Marubozu candlestick means the buyers have full control when that week closed.
there were 2 good setups in the chart above -
1) is BUEB/BUOB
2) double Inside Bars breakout
if you can see them, you are good.
so important to use triple screen technique when we trade.
one trader highlighted this to me earlier and I thought I share this in this forum for you to learn what the Marubozu candlestick is.
we previously discussed this in the other M15 thread by LE1.
Buy the dips in an established uptrend .
A bullish Marubozu candlestick means the buyers have full control when that week closed.
there were 2 good setups in the chart above -
1) is BUEB/BUOB
2) double Inside Bars breakout
if you can see them, you are good.
so important to use triple screen technique when we trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,819
- Jun 20, 2018 8:05pm Jun 20, 2018 8:05pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
NZDJPY making new low soon ... be careful if you were buying.
LTF ...
LTF ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #87,820
- Jun 20, 2018 8:28pm Jun 20, 2018 8:28pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
NZDJPY hitting the old lows of those spikes...
in an established downtrend, we look to sell the rallies, there were a few opportunties 20/20.
we shall see when the Week Low will reach ... and another new low outside the BB lower band for another star/moon stuff, maybe or maybe not...???
in an established downtrend, we look to sell the rallies, there were a few opportunties 20/20.
we shall see when the Week Low will reach ... and another new low outside the BB lower band for another star/moon stuff, maybe or maybe not...???
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett