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  • #15,121
  • Jan 19, 2019 10:18am Jan 19, 2019 10:18am
Thank you for your reponse.

I am definitely determined to learn but this is dampening my enthusiasm because at the moment I really can't trade during any other session.
Do you suggest I should just leave it be and move to something else or try to trade during those hours regardless of the high impact releases?

And once again I thank you for your generosity. I know this has all been said many times before, but there are few that are as altruistic as you are by taking your time and teaching strangers your system.

Cheers
  • #15,122
  • Jan 20, 2019 10:18am Jan 20, 2019 10:18am
Quoting poorslave
Thank you for your reponse. I am definitely determined to learn but this is dampening my enthusiasm because at the moment I really can't trade during any other session. Do you suggest I should just leave it be and move to something else or try to trade during those hours regardless of the high impact releases? And once again I thank you for your generosity. I know this has all been said many times before, but there are few that are as altruistic as you are by taking your time and teaching strangers your system. Cheers
Here is your problem and that is placing rules of restriction in how you will trade. Trading the forex is not a hobby or a job 8-5; it is not a substance in finding a way to supplement your income. Trading the forex is a total commitment without any restrictions whatsoever. And it does not matter what system you want to learn from. If you cannot commit your LIFE to trading then I suggest in finding something else.

Let me be very specific - learning how to trade is not easy. It is frustrating and demanding 24/7 and takes a very specific skill in learning to trade. There is not a market more dangerous then the Foreign Exchange Market due to the fact the forex bankrupts more traders then any other market in the world. And can tell by your postings the forex is not for you.
The Dove - Forex Trainer
  • #15,123
  • Edited 1:06pm Jan 20, 2019 11:04am | Edited 1:06pm
I get that commitment but I also think that finishing your education is paramount. Im 17 and I need to have a basis to work from if trading doesn't work out. I am trying to do the right thing here and to find a balance between school and learning to trade.

I would love to trade right after 17:00 EST and check the charts until I find my 40 pips, even if it takes me the whole day, but unfortunately, in my time zone, it is night time. I find this to be very frustrating to not be able to trade just because of that.

I understand that you don't endorse this, but I will try to study and give the New York session a shot in a DEMO account for a couple of months, as it is my only option. And also don't get me wrong. If I don't find a trade during the time I am able to trade I am going to leave it be. It's always better to not trade rather than losing because of fear of missing out or greed. And I'm also aware that I would have to be particularly careful about news releases.

I would like to ask one last question. If I were to create to trading plan at the New York session opening (8:00 EST). Should I go back to 17:00 EST and take what had happened until 8:00 EST into consideration or ignore that and create it only for the NY opening?

Once again, thank you for taking your time and I will try to not bother you again.
  • #15,124
  • Jan 20, 2019 4:33pm Jan 20, 2019 4:33pm
Quoting SuchParadox
{quote} entry: Entered a sell as close to h2 romar resistance, with the confluence of psar resistance on h4 , and romar on h1 {image}
Evaluation: Sl was hit. I made some mistakes:

 

  1. I entered in the middle of a 2h candle in motion
  2. I failed to recognise that the true resistance was in fact h4 romar and daily psar was support
  3. Entering too early was then in risk of my trade going to sl
  4. The confluence with h4 resistance was also with the purple white cross on daily which was the bigger picture.

  • #15,125
  • Jan 20, 2019 4:34pm Jan 20, 2019 4:34pm
EURJPY Date: 20-21-01/19
News: No Major news,

Daily:
ROMAR:Resistance
EMA: Resistance
PSAR: Support

Checklist:

Last MACD 0 crossing: up
Lat EMA alert arrow: up
Last DB attachment: 110.765, sar attached on top candle at 125.080
Fibo: green and up from the 0.0

Notes: Romar resistance. Psar holding support keeping the trend of the moment up. 4hm are moving closer together with purple white currently sliding against each other to the upside, above psar. Ema up arrow, two bars prior to current bar, Romar resistance 200 pips away , with BBs closing in slightly.


4HR:

ROMAR: Support/Resistance
EMA: Support
PSAR: Support

Checklist:

Last MACD 0 crossing: up
Last DB attachment: top, together with sar, 124.963
Fibo: Green and up from the 0.0

Notes: 4hm turned up with Romar at the Ema crossing on the next bar. Could be a slider so dont anticipate. Market came within two pips of flipping the Fibo last week, before retracing to Romar. Macd still up, with BBs opened up.


2HR:
Opening Price: 124.630
ROMAR: Support
EMA: Support
PSAR: Support

Checklist:

Last MACD 0 crossing: down
Lat EMA alert arrow:up
Last DB attachment: top with sar 124.963
Fibo: red and down from the 0.0

Notes: Romar uptrend, with 4hm turned up however market opened below ema , with macd down arrow popping up on the current candle and purple / white cross down, portraying a conflict with the current uptrend. The previous high brought out magenta price tag, with both divergences then a retrace to psar support on the next two candles. In the moment h2 psar holding support.

1HR:

ROMAR: Support
EMA: Support
PSAR: Support

Checklist:

Last MACD 0 crossing: down
Lat EMA alert arrow: down
Fibo: red and down from the 0.0

Notes: 4hm are bunched up together with bbs flatlined, as the market moves sideways. We currently have an ema slider with psar as support. Romar support is out of trading range as market moves sideways between 38.2 and 0.0 fibo


Final Notes:h1 moving sideways, h2 turned up with some elements in conflict with the up, h4 turned up with Romar at the ema crossing. And daily turning up with the open above ema. We are currently in a consolidated uptrend, with some elements showing the possibility of a down swing to support i.e h2 support. H1 is currently showing strong sideways movement.

Projected entry: I will enter a long from support. I will wait patiently until market hits support on h2 , with h1 breaking away from the sideways movement.
  • #15,126
  • Jan 20, 2019 6:20pm Jan 20, 2019 6:20pm
Trading Plan 01 /20/2019
SYMBOL: EURJPY
Economic news : None
USD Bank Holiday
- - - - - - - - - - - - - - - - - -
Daily
ROMAR - resistance
EMA - support
Parabolic - support
Last DB Attachment -bottom at 118.765 with standard divergence and hidden divergence.
Last SAR Attachment -top at parabolic 125.080
Fibonacci - green
Notes: Horsemen very tight together. Trend EMA arrow UP. MACD zero cross arrow up. FIBO up. 50 fib support and 61.8 resistance.

- - - - - - - - - - - - - - - - - -
H4
ROMAR - resistance
EMA - support
Parabolic - support
Last DB Attachment - top at 124.963 with standard divergence
Fibonacci - green
Notes: Horsemen in uptrend with purple and white crossing (consolidation) eliminating parabolic. EMA is about to cross ROMAR. Fibo is green.

- - - - - - - - - - - - - - - - - -
H2
ROMAR support
EMA - support
Parabolic support
Last DB Attachment - top at 124.963 with standard divergence and hidden divergence
Fibonacci red
Notes: Purple has crossed white and smooth for the down. Trend EMA down. MACD zero cross arrow down. Both arrows on the same bar. Market 30 pips away from Romar. FIBO red.

- - - - - - - - - - - - - - - - - -
H1
ROMAR - -support
EMA - - resistance
Parabolic - resistance

- - - - - - - - - - - - - - - - - -

FINAL NOTES: Market is in consolidation. On H2 chart market is only 30 pips to Romar so its not safe to short since its a counter trend-trade of Romar H2. Will wait.

Adjustments:

RESULTS:
  • #15,127
  • Jan 21, 2019 1:19am Jan 21, 2019 1:19am
Trading plan 21/01/2019
Economic news : no
Daily
ROMAR - resistance
EMA - resistance
Parabolic - support
Last SAR Attachment up at 125,080
Fibonacci green.
Daily is ranked. Romar drops out of the shopping area, stripes flat. Daily candle opened higher EMA. Riders is a good support. Nearest resistance fibo level 61.8. Parabolic support.
H4 ROMAR - support EMA - support Parabolic support
Last SAR Attachment down at 124.5
Last DB Attachment top at 124.963. Purple crossed white
Fibonacci green.
H2
ROMAR support
EMA
Parabolic- resistance
Checklist:
Last SAR Attachment down at 124.5
Last DB Attachment top at 124.963. Purple in EMA
Fibonacci red. H1 ROMAR - support
EMA - -
Parabolic- resistance
Fibo red.
Consolidation. Rules for determining consolidation:
1: If one of the trading charts are not in sync with one another you are in consolidation.
2: If the Daily ROMAR/EMA are not sync with 1 and 2 hour charts you are in consolidation.


Rules for consolidation: a: The 2 hour is your trading/trend chart. b: Use the Daily Chart S/R as reference for consolidation. c: You can trade either short or long in consolidation. d: Trade from resistance to support and vice-versa. Do not trade from center in consolidation. e: Both upper and lower bands are resistance and support in consolidation.
1) Last DB Attachment up and I am looking for sell from resistance (fibo 61.8 Daily)
2) when rolling back to the support (romar) consider entering the purchase before Fibo 61.8 days (resistance). Now I have not 40 pips before 0 fibo H2
Either I will find a way, or I will make one...
  • #15,128
  • Jan 21, 2019 2:18am Jan 21, 2019 2:18am
Session: January 21th, 2019 EUR/JPY.
Red News: None

Daily
Romar: Resistance
EMA: Resistance
Parabolic: Support
EMA last arrow: UP, MACD: UP

H4
Romar: Support
EMA: Support
Parabolic: Support

H2
Romar: Support
EMA: Support
Parabolic: Support
EMA last arrow: UP, MACD: DOWN

H1
Romar: Support
EMA: Resistance
Parabolic: Resistance

Daily (big picture) final note
At the top the Daily 61.8 is resistance and at the bottom the Parabolic is support. And market opened right in the middle between those 2 support/resistance, also it opened above EMA resistance.

H1 H2 H4 final note
H4 H2 both showing SAR at support. H2 EMA sliding under Purple for the UP but H2 Parabolic is for the down. And the market is consolidation because of the Parabolic are not syncing together.
H1 is out of sync with H2.

Market type
Consolidation

Projected entry
Looking to short if the Daily SAR shows up with confluence on the other charts also. And look to buy if H2 DB connection is on support with Divergences and confluences
  • #15,129
  • Jan 21, 2019 8:22pm Jan 21, 2019 8:22pm
Quoting maytheforce
Trading Plan 01 /20/2019 SYMBOL: EURJPY Economic news : None USD Bank Holiday - - - - - - - - - - - - - - - - - - Daily ROMAR - resistance EMA - support Parabolic - support Last DB Attachment -bottom at 118.765 with standard divergence and hidden divergence. Last SAR Attachment -top at parabolic 125.080 Fibonacci - green Notes: Horsemen very tight together. Trend EMA arrow UP. MACD zero cross arrow up. FIBO up. 50 fib support and 61.8 resistance. - - - - - - - - - - - - - - - - - - H4 ROMAR - resistance EMA - support Parabolic - support Last DB...
No trade taken.. very slow day due to bank holiday.
  • #15,130
  • Jan 21, 2019 8:24pm Jan 21, 2019 8:24pm
Trading Plan 01 /21/2019
SYMBOL: EURJPY
Economic news : orange
EUR news @ 5:00 a.m.
JPY RED news tentative
- - - - - - - - - - - - - - - - - -
Daily
ROMAR - resistance
EMA - support
Parabolic - support

Last MACD 0 Crossing - up
Last EMA Alert Arrow - up
Last DB Attachment -bottom at 118.765 with standard divergence and hidden divergence.
Last SAR Attachment -top at parabolic 125.080
Fibonacci - green

Notes: Horsemen very tightly condensed. Daily candle open above EMA. 50 fib support and 61.8 resistance.

- - - - - - - - - - - - - - - - - -
H4
ROMAR - support
EMA - support
Parabolic - support

Last DB Attachment - top at 124.963 with standard divergence.
Last SAR Attachment - bottom at EMA 124.500
Fibonacci - red

Notes: Purple has crossed white and smooth for the down. Parabolic support eliminated. EMA has just crossed ROMAR. FIBO just flipped for the down with DB at top with standard divergence.

- - - - - - - - - - - - - - - - - -
H2
ROMAR support
EMA - resistance
Parabolic resistance

Last MACD 0 Crossing - down
Last EMA Alert Arrow - down
Last DB Attachment -bottom at 124.510 with standard divergence.
Last SAR Attachment -bottom at 124.500
Fibonacci - red

Notes: Horsemen very tight and condensed. DB has attached on bottom separate from SAR so SAR must connect with DB at bottom. There is also no price tag attached to DB on the bottom so the market will go lower. We are only 17 pips to ROMAR. BB Bands very tight.

- - - - - - - - - - - - - - - - - -
H1
ROMAR - support
EMA - - resistance
Parabolic - support

- - - - - - - - - - - - - - - - - -

FINAL NOTES: Market is in consolidation. Not sure any trades should be taking place due to the tentative JPY red news all day. I would like to short since both H2 and H4 fibos have flipped for the down but H2 ROMAR is a very close support.
  • #15,131
  • Jan 22, 2019 1:15am Jan 22, 2019 1:15am
Quoting Lakers
Session: January 21th, 2019 EUR/JPY. Red News: None Daily Romar: Resistance EMA: Resistance Parabolic: Support EMA last arrow: UP, MACD: UP H4 Romar: Support EMA: Support Parabolic: Support H2 Romar: Support EMA: Support Parabolic: Support EMA last arrow: UP, MACD: DOWN H1 Romar: Support EMA: Resistance Parabolic: Resistance Daily (big picture) final note At the top the Daily 61.8 is resistance and at the bottom the Parabolic is support. And market opened right in the middle between those 2 support/resistance, also it opened above EMA resistance....
No Entry
Yesterday's market was doing sideways action so no trade.
  • #15,132
  • Jan 22, 2019 1:26am Jan 22, 2019 1:26am
Trading plan 22/01/2019
Economic news : no
Daily
ROMAR - resistance
EMA - resistance
Parabolic - support
Last DВ and SAR Attachment up at 125.080
Fibonacci green. Purple in white and smooth.
H4
ROMAR resistance/ support
EMA - resistance
Parabolic - resistance
Last DB Attachment down at 124.1
Fibonacci red. Riders are pointing down
H2
ROMAR resistance/ support
EMA resistance
Parabolic- resistance
Checklist:
Last DB Attachment down at 124.1
Fibonacci red. Riders are pointing down H1 ROMAR - resistance
EMA - - resistance
Parabolic- resistance
Fibo green.
We are have consolidated downtrends because Parabolic support Daily and romar H2, H4 resistance/support
Rules for downtrends: a: ROMAR and EMA must be in sync on both 1 and 2 hour to trade short.
b: The 1 hour is your reference chart with the 2 hour trend chart. c: Trades are made from the resistance area to go short.
1) I predict an entrance to sales from support (H2 romar).
2) You can enter into purchases from the level of 61.8 fibo H4 in the merger with 50 fibo day, with fibo H2 coup, if consolidation continues
Either I will find a way, or I will make one...
  • #15,133
  • Jan 22, 2019 1:52am Jan 22, 2019 1:52am
Session: January 22th, 2019 EUR/JPY.
Red News: None

Daily
Romar: Resistance
EMA: Resistance
Parabolic: Support
EMA last arrow: UP, MACD: UP

H4
Romar: Resistance
EMA: Resistance
Parabolic: Resistance

H2
Romar: Support / Resistance
EMA: Resistance
Parabolic: Resistance
EMA last arrow: DOWN, MACD: DOWN

H1
Romar: Resistance
EMA: Resistance
Parabolic: Resistance

Daily (big picture) final note
The market is currently at the Parabolic support and the Parabolic has yet to flip for the down. EMA DOWN arrow is showing and MACD is decreasing from the top.
If H2 Romar EMA cross for the down it will cause every Romar trend in sync for the down.

H1 H2 H4 final note
H1 H2 H4 EMA's power is for the down and the 4 horsemen also. The H4 H1 Romar EMA already crossed for the down and to be followed by H2 Romar EMA cross.
If H2 lower BB is hit during a downtrend / consolidation, it generally retrace back to Purple, White, or Smooth.

Market type
Down Swing / Consolidation

Projected entry
Go with the trend and look for a short at resistance with confluence on the other charts.
Or if the Daily Parabolic support is not eliminated and the market starts to consolidate at support plus shows an up move indication, then could also go long.
  • #15,134
  • Jan 22, 2019 2:16am Jan 22, 2019 2:16am
EURJPY Date: 22/01/2019
Session: London
News: None



Daily:
ROMAR: Resistance
EMA: Resistance
PSAR: Support

Checklist:
Last MACD 0 crossing: Up
Last EMA alert arrow: Down
Last SAR attachment: Top @ 125.080
Last DB attachment: Bottom @ 118.765
Fibo: Green - Up

Notes:
4 Horsemen: All string together. Market trading on Parabolic.
Closest Support: Parabolic but the 4 horsemen are so close toghether that the Parabolic could be broken. The 50 Fibo is next closest support
Closest Resistance: 618 Fibo

4HR:
ROMAR: Resistance
EMA: Resistance
PSAR: Resistance

Checklist:
Last MACD 0 crossing: Down
Last EMA alert arrow: Red - Down
Last SAR attachment: With DB @ bottom
Last DB attachment: Bottom @ 124.100
Fibo: Red - Down

Notes:
4 Horsemen: ROMAR crossed Purple for a change in the trend. EMA crossed Purple. The DB connected to the current candle, but it only has the blue dotted line attached to it and not the yellow one. It seems that it is in a downward swing and will attach lower.
Closest Supprt: 61.8 Fibo as the Bollinger bands are inside the trading area between 61.8 and 100 fibo
Closest Resistance: ROMAR

2HR:
Opening Price: 124.630
ROMAR: Support
EMA: Resistance
PSAR: Resistance

Checklist:
Last MACD 0 crossing: Down
Last EMA alert arrow: Red - Down
Last SAR attachment: With DB
Last DB attachment: Bottom @ 124.100
Fibo: Red - Down

Notes:
ROMAR about to cross Purple. All horsemen in line for the swing down. Market just broke the 61.8 Fibo and it also is on the Bollinger band. The DB has the blue dotted line attached to it, but not the yellow as it. It seems it is going for the 100 Fibo.
Closest Support: 61.8 Fibo at present testing it. Also trading on Bollinger bands. Next support = 100 Fibo.
Closest Resistance: If ROMAR crosses Purple, ROMAR will be closest resistance. Theres not enough space from where the market is trading now, to ROMAR. Have to wait for market to go lower to create enough space for TP.


1HR:
ROMAR: Resistance
EMA: Resistance
PSAR: Resistance

Checklist:
Last MACD 0 crossing: Down
Last EMA alert arrow: Red - Down
Fibo: Green - Up

Notes:
Horsemen in a swing down. The DB has the blue dotted lines as well as the yellow dotted line attached. Fibo is green as it reached the 100 red Fibo and flipped. Market is trading on the bollinger bands for a number of candles now.

Rules:
Consolidation
When in consolidation mode, the trades are always from resistance and support. Never from the middle. Lower lows and higher highs are never an entry. The entry points are the higher low and the lower high according to the ROMAR trend on the 2Hr.
Final Notes:
Will wait for the market to trade lower. Theres not enough pip count to ROMAR on the 2Hr.
As the market is in a swing down and it could reach the 100 fibo on the 2Hr.
Entry for a buy will be when the yellow dotted line attach to the 2Hr DB and theres enough pipcount to the 2hr ROMAR.
  • #15,135
  • Jan 22, 2019 4:17am Jan 22, 2019 4:17am
I went on sale according to the trading plan
Attached Image (click to enlarge)
Click to Enlarge Name: Н2 22,01,19.JPG Size: 175 KB
Either I will find a way, or I will make one...
  • #15,136
  • Jan 22, 2019 6:21pm Jan 22, 2019 6:21pm
Quoting maytheforce
Trading Plan 01 /21/2019 SYMBOL: EURJPY Economic news : orange EUR news @ 5:00 a.m. JPY RED news tentative - - - - - - - - - - - - - - - - - - Daily ROMAR - resistance EMA - support Parabolic - support Last MACD 0 Crossing - up Last EMA Alert Arrow - up Last DB Attachment -bottom at 118.765 with standard divergence and hidden divergence. Last SAR Attachment -top at parabolic 125.080 Fibonacci - green Notes: Horsemen very tightly condensed. Daily candle open above EMA. 50 fib support and 61.8 resistance. - - - - - - - - - - - - - - - - - - H4 ROMAR...
No trade. There wasnt 40+ pips to the end of the H2 fibo to short once the market fell.
  • #15,137
  • Jan 22, 2019 6:21pm Jan 22, 2019 6:21pm
Trading Plan 01 /22/2019
SYMBOL: EURJPY
Economic news : red
JPY news RED Tentative.

- - - - - - - - - - - - - - - - - -
Daily
ROMAR - resistance
EMA - resistance
Parabolic - support

Last MACD 0 Crossing - up
Last EMA Alert Arrow - down
Last DB Attachment -bottom at 118.765 with standard divergence and hidden divergence.
Last SAR Attachment -top at parabolic 125.080
Fibonacci - green

Notes: Horsemen very tightly condensed. EMA arrow down and MACD arrow UP. Market open below parabolic. Parabolic eliminated as support.

- - - - - - - - - - - - - - - - - -
H4
ROMAR - resistance
EMA - resistance
Parabolic - resistance

Last DB Attachment - bottom at 124.034 with standard divergence.
Last SAR Attachment - currently behind DB
Fibonacci - red

Notes: Purple has crossed white and smooth for the down. EMA has crossed ROMAR making both resistance. Fibo is red.

- - - - - - - - - - - - - - - - - -
H2
ROMAR resistance
EMA - resistance
Parabolic resistance

Last MACD 0 Crossing - down
Last EMA Alert Arrow - down
Last DB Attachment -bottom at 124.034 with both divergences.
Last SAR Attachment - top on current bar at 124.326
Fibonacci - green

Notes: Horsemen are in consolidation for the up, purple has crossed white and about to cross smooth. SAR attached on current open bar on top. FIBO has flipped to green.

- - - - - - - - - - - - - - - - - -
H1
ROMAR - resistance
EMA - - resistance
Parabolic - resistance

- - - - - - - - - - - - - - - - - -

FINAL NOTES: All ROMAR trends on charts in sync for the sell. When all charts are in sync never counter trade. Am looking to short the market if SAR attaches on H4 on Parabolic where 23.6 fib is as well.
  • #15,138
  • Jan 22, 2019 9:33pm Jan 22, 2019 9:33pm
Quoting maytheforce
Trading Plan 01 /22/2019 SYMBOL: EURJPY Economic news : red JPY news RED Tentative. - - - - - - - - - - - - - - - - - - Daily ROMAR - resistance EMA - resistance Parabolic - support Last MACD 0 Crossing - up Last EMA Alert Arrow - down Last DB Attachment -bottom at 118.765 with standard divergence and hidden divergence. Last SAR Attachment -top at parabolic 125.080 Fibonacci - green Notes: Horsemen very tightly condensed. EMA arrow down and MACD arrow UP. Market open below parabolic. Parabolic eliminated as support. - - - - - - - - - - - - - - -...
Short at the new 9:00 p.m H2 candle. SAR attached on H4 parabolic which is also the 23.6 fib. H4 FIBO RED.
  • #15,139
  • Jan 22, 2019 9:50pm Jan 22, 2019 9:50pm
Quoting maytheforce
{quote} Short at the new 9:00 p.m H2 candle. SAR attached on H4 parabolic which is also the 23.6 fib. H4 FIBO RED.
That is not the way it is done trader. For one thing you did not show your entry chart and at 9 PM means you was in a trade with a high impact release..
The Dove - Forex Trainer
  • #15,140
  • Jan 22, 2019 10:01pm Jan 22, 2019 10:01pm
Quoting maytheforce
{quote} Short at the new 9:00 p.m H2 candle. SAR attached on H4 parabolic which is also the 23.6 fib. H4 FIBO RED.
I forgot one other thing. By breaking the rules you also had entered a losing trade.
The Dove - Forex Trainer
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