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  • #361
  • Jan 16, 2019 4:15pm Jan 16, 2019 4:15pm
I may have allready posted this once . This is very very important so it needs to be ingrained in your mind the first rattle out the box when you look
at these charts before you do anything else. I would even save this post or write it down. If you think you see a potential 25% close entry --- calculate one pip above that entry candle minus your stop loss and see what your pip distance is.....then look at your pivot high to left to see if you at least have that many pips too...which would be at least 1:1 ratio.You do this enough you can pretty much eye-ball it or do with the chart tool provided . I went into a little detail on this chart and hope it helps. To be honest i didn't see this trade which would have been a nice one.Remember the #2 entry right after the lowest low . Take care
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  • #362
  • Jan 17, 2019 3:26am Jan 17, 2019 3:26am
Quoting tex123
I may have allready posted this once . This is very very important so it needs to be ingrained in your mind the first rattle out the box when you look at these charts before you do anything else. I would even save this post or write it down. If you think you see a potential 25% close entry --- calculate one pip above that entry candle minus your stop loss and see what your pip distance is.....then look at your pivot high to left to see if you at least have that many pips too...which would be at least 1:1 ratio.You do this enough you can pretty much...
Cracker THKS Tex
  • #363
  • Jan 17, 2019 7:05am Jan 17, 2019 7:05am
Your welcome...have a good weekend !
  • #364
  • Edited 8:20pm Jan 17, 2019 7:45pm | Edited 8:20pm
MMM Starting to get it or should i say the importance of
  • #365
  • Jan 17, 2019 11:13pm Jan 17, 2019 11:13pm
Watching this for possible short..SGD CHF 4 hr
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  • #366
  • Jan 18, 2019 9:43am Jan 18, 2019 9:43am
Danc looks like you have the oanda mt4 up and running correct ? Your making very good progress. You have the correct setting on the RSI which is 5. Okay now on the rsi lines all you need to do is add 40 and 60 . Also you need to add a 20 ema and 50sma. ....whatever colors you like and can see. Whenever you get time.Remember we want to trade buys above the 20ema and 50 sma and sells below the 20ema and 50 sma.
  • #367
  • Edited 12:05pm Jan 18, 2019 10:02am | Edited 12:05pm
Danc i need you pull up a 4 hr USD/JPY chart and see if you get the same chart as mine on your chart. Central time usa Texas ,Mexico canada time gmt time on Oanda. Then once your chart compares to mine then we will go over this trade step by step.BTW, This is a text book trade by my rules. Whomever trading this one you did exceptionally well with a runner. as a bonus.There should have been around 6 winners in a row this week.I didn't get this one i was done trading early in week.Rules are on post 284.
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  • #368
  • Jan 18, 2019 2:51pm Jan 18, 2019 2:51pm
I am in it Tex or was am out now.. sat morn here got somne stuff on .. i will put up a chart more on this later.. also NZ Singa SGaCHF and NZD chf but unfortunate doesnt quite fit all your rules mainly 20 ema and 50 sma more later gotta go across to the beach 4 ft glass like swell beckons..will post more sunday.. CRACKER of a chart you post above.. i do trade this one on 15 5 and v1 min ..i got some good points out of this on 15 min last night using 3 of your rules GOOD weekend Dan THKS for all the GREAT stuff you post and attention to detail you give.
  • #369
  • Jan 18, 2019 3:43pm Jan 18, 2019 3:43pm
Your more than welcome Danc...be careful on the beach.We have some cold weather in the chill factor teens coming this weekend with 30mph winds .Hopefully
this one won't stick around because i have some outside animals i have to look after. Yea the market here is closed here as well for the next couple of days.We'll break down that usd/jpy 4hr chart in real detail. I'm a conservative and rule base trader . 2 seasoned traders i've known for a long time gave me some excellent advice and tips along the way. They are private traders and older than me
  • #370
  • Jan 19, 2019 11:54pm Jan 19, 2019 11:54pm
Tex will get to my charts of usdjy later to night but here is one ADUD 4 hr..its been dancing every one around for some time now.. am undecided its had some false starts before..looks much better on the OANDA chart
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  • #371
  • Edited 10:15pm Jan 20, 2019 8:17am | Edited 10:15pm
Looks great Danc. Now Danc if you want to save this as your default or save any other templates just go to the VIEW tab
on top left and scroll to toolbar and make sure your Standard,charts,line studies, and time frames are all checked. After this is done you can go to the far
right tab on your chart which should say template--------click on save template and type in default. This way every time you open oanda platform and go to a chart you have these indicators there.......Anytime you save template you have to name it something....this way you can go back to the template tab and scroll down to whatever saved.
  • #372
  • Jan 20, 2019 2:29pm Jan 20, 2019 2:29pm
Tex I have posted 2 charts A IG and B OANDA reason i trade throu IG and some slight difference but quite close.. more later..i have taken short position in ADUD and as yet havent really put my head around your stop loss method.. mainly because i am slack.. more later
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  • #373
  • Jan 20, 2019 11:08pm Jan 20, 2019 11:08pm
No worries Danc.Will go over everything over and over.You'll get it over time and it will fall in place.I'm assuming the bottom chart is Oanda.Ok your Rsi needs to be 5 instead of 14. RSI 5 is just faster and represents 5 periods on whatever time frame your trading.Ok now you need to do learn how to identify the 5 candle pullback set up. Okay make sure your chart is allready open and go the insert tab on the top left and left click there....scroll down to text or text label and left click there..you should see abc symbol on your chart.....left click there. Okay a box should open ...then you type in 1 in the text area and click ok.The 1 should be on your chart and can move it anywhere.Let me know how it goes.
  • #374
  • Jan 20, 2019 11:57pm Jan 20, 2019 11:57pm
Ok here is the Usd/jpy chart more in detail.Remember we allways cover or move our stops to the high of the entry candle once we reach half our risk.The closed candle must touch the half way point ...the green body not the wicks.So in this example it was the 2nd candle after the entry we covered. Remember this how i do it ...if your more aggressive you can wait till it reaches the pivot high to the left.Regardless this was a great trade either way. This is a TEXT BOOK trade here.The first 2 pullbacks too can be significant too.Stop loss is allways at the low of entry candle or #1 candle.
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  • #375
  • Jan 21, 2019 10:09am Jan 21, 2019 10:09am
Need to practice this exercise. We do not wont any wick to go below #1 candle and we need to have at least 4 candle lows above #1....practice practice. I'll be out of pocket today.
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  • #376
  • Jan 21, 2019 11:04pm Jan 21, 2019 11:04pm
Tex havnt been throu any of your latest stuff YET.. will get stuck in morrow..but short this NZD JY 4hr and ad ud and adjy head spinning from amount of charts i have looked at.. bldy heat wave here all most unbearable..got chart oer load
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  • #377
  • Edited Jan 22, 2019 7:47am Jan 21, 2019 11:16pm | Edited Jan 22, 2019 7:47am
This is a little more than what i normally like to risk which is 87 pips.Remember this is the #2 entry which is right after the 5 candle low #1. We still have plenty of room to run to pivot high for a potential target. We did get filled on the next candle above out entry candle (above the red arrow by one pip. If i don't get filled above entry candle y one pip i normally negate trade.This was a deep pullback and i didn't seen any LL and LH coming down so we are still in an uptrend imo.My cover point will be half of 87 is 43 pips above entry candle.My stops go above the high of entry candle if i reach the cover point.Worst case scenerio i'll lose spread if i reach cover point,if price retraces back.I'll be out of town tomorrow all day on business.I'll post trades later .Hope this helps. Take care
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  • #378
  • Jan 21, 2019 11:26pm Jan 21, 2019 11:26pm
[quote=danc;11910219]Tex havnt been throu any of your latest stuff YET.. will get stuck in morrow..but short this NZD JY 4hr and ad ud and adjy head spinning from amount of charts i have looked at.. bldy heat wave here all most unbearable..got chart oer load {image}[/quote
Danc there is quiet a few charts to look at for sure lol Just don't get too overwhelmed because you can be picky on your trades with this setup.Forex market trends good most of the time.I'll post the nzd.jpy chart in just a minute.
  • #379
  • Jan 21, 2019 11:57pm Jan 21, 2019 11:57pm
Here we go Danc ---nzd/jpy . Just remember we want to have a deep enough pullback to to least have a 1 to 1 to pivot high.Very important to learn the lowest low of the last 5 candles on buy and highest high of the last 5 candles on sells.After this we want to make sure everything is in sync with trend.
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  • #380
  • Jan 22, 2019 7:51am Jan 22, 2019 7:51am
Quoting tex123
This is a little more than what i normally like to risk which is 87 pips.Remember this is the #2 entry which is right after the 5 candle low #1. We still have plenty of room to run to pivot high for a potential target. We did get filled on the next candle above out entry candle (above the red arrow by one pip. If i don't get filled above entry candle y one pip i normally negate trade.This was a deep pullback and i didn't seen any LL and LH coming down so we are still in an uptrend imo.My cover point will be half of 87 is 43 pips above entry candle.My...
Nailed this one for winner (GPB/Cad above chart) ! Price never retraced back to cover point. All positions (S) covered. Look where price went ...right to pivot
high.I'm heading out of town...later.Remember stay humble .
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