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A very simple system - trade with arrow

  • #6,661
  • Feb 7, 2020 7:58am Feb 7, 2020 7:58am
guys, I think it's best you keep your main chart (price chart) as clear as possible but if you like to decorate it's your business. It's just my advice as we are trading pa with the 10/34 ema..you can have as many indicators as you like below the main chart below..there are enough indicators on your main chart for you to trade profitably..
the cautious seldom err....C
  • #6,662
  • Feb 7, 2020 8:04am Feb 7, 2020 8:04am
Quoting Pent56
{quote} GBP/AUD Long trade: I don't usually enter so soon after London open but I was expecting some risk off sentiment in the markets today and price had been rising from the Weekly S61 support. The main reason for the trade was, as Pips29 says, was not complicated - price position, price action & trading with trend. First entry not great - price tends to react around Big Round Numbers (BRN). Second entry a lot better waiting for price to retrace towards the 34 ema and the high from the asia session (support). I have taken some profit and will...
great stuff Pent, it's so much easier trading with the trend..I traded the other one (euraud)..as long as we are with the trend we need not fear with a small retracement to the 34 ema and a rejection at the 34 ema is usually a place to do an entry...
the cautious seldom err....C
  • #6,663
  • Feb 7, 2020 8:09am Feb 7, 2020 8:09am
AUD/JPY Short:
Trade carried over from yesterday. Initial 3 entries taken on M5 chart as per the rules in this thread. Price went a little against me but added a further short at the resistance. I have zoomed out the chart here on the M15 as it shows the market structure spoken about yesterday (plus a decent H&S pattern). This along with market sentiment kept me from closing the trade when it went against me a little and allowing the trade to breath.
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  • #6,664
  • Feb 7, 2020 8:16am Feb 7, 2020 8:16am
EUR/AUD:
Almost identical to the GBP/AUD. There were plenty of opportunities to get into the market today using this method. I am also in trades with NZD crosses. No need to chase the trades. Let the trades come to you and be patient.
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  • #6,665
  • Feb 7, 2020 8:19am Feb 7, 2020 8:19am
Quoting pips29
just a quick scalp before going to bed...off now..zzz.zzz..got what I wanted with acad {image} {image}
hi pips29
audcad trade make me confuse
your sell was in support
look at h1 chart
you can explain please?
vertical white line mark your entry bar and horizontal white line its support
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  • #6,666
  • Feb 7, 2020 8:21am Feb 7, 2020 8:21am
Quoting Pent56
AUD/JPY Short: Trade carried over from yesterday. Initial 3 entries taken on M5 chart as per the rules in this thread. Price went a little against me but added a further short at the resistance. I have zoomed out the chart here on the M15 as it shows the market structure spoken about yesterday (plus a decent H&S pattern). This along with market sentiment kept me from closing the trade when it went against me a little and allowing the trade to breath. {image}
I feel what you are trading as I was selling the kiwi and aussie cross pairs as well yesterday...have you been trading this method long if I may ask...?
the cautious seldom err....C
  • #6,667
  • Feb 7, 2020 8:32am Feb 7, 2020 8:32am
Quoting forexdg
{quote} hi pips29 audcad trade make me confuse your sell was in support look at h1 chart you can explain please? vertical white line mark your entry bar and horizontal white line its support {image}
why do you think that's a support level...MM do all these things to make you think a support is there, you should look more at what price is doing like is price making HH...you can clearly see price is not doing that at all, as a matter of fact price was printing LH...I reckon you learn too many things over the years that don't work and I advise you to follow Pent...he knows his stuff and you can only improve learning from his charts and comments
the cautious seldom err....C
  • #6,668
  • Edited 8:59am Feb 7, 2020 8:48am | Edited 8:59am
Quoting pips29
{quote} I feel what you are trading as I was selling the kiwi and aussie cross pairs as well yesterday...have you been trading this method long if I may ask...?
I would call myself a student of traderathome (TAH) and his PVSRA (Price, Volume, Support & Resistance analysis) method. I owe a lot to him and his teachings.

A large part of that method is trading with the trend, looking at price action and where the price is in relation to support and resistance. He also taught me a lot about how the market works.

I then spent some time studying the 10/34 ema trend and using the Stochastic to time entries when price entered the kill zone (inside the shaded area you show here and price on the Stoch being within the higher zone for shorts or lower zone if looking at long trades). This just helped me to time entries better and get into the rhythm of the market.

Davit also taught me a lot about pivots and market sentiment. Sorry, I know you two don't always see eye to eye!

I have been watching the way you trade over the last few months and you combine a lot of what I have been studying/trading and trade it in a very disciplined and consistent way.

I first started studying to trade in 2015. I would estimate I have spent in excess of 8000 hours studying charts etc. I have been trading 'properly' for a couple of years now. Always learning though!
  • #6,669
  • Feb 7, 2020 8:49am Feb 7, 2020 8:49am
Quoting pips29
{quote} why do you think that's a support level...MM do all these things to make you think a support is there, you should look more at what price is doing like is price making HH...you can clearly see price is not doing that at all, as a matter of fact price was printing LH...I reckon you learn too many things over the years that don't work and I advise you to follow Pent...he knows his stuff and you can only improve learning from his charts and comments
understood about lowerhigh
I just didnt seen lowerlow and its made me belive its no downtrend because definiton its lowerlows and lowerhighs
thank you pips29
I watched pent56 trades and continue to watch and learn from him too
  • #6,670
  • Feb 7, 2020 9:24am Feb 7, 2020 9:24am
Quoting forexdg
{quote} understood about lowerhigh I just didnt seen lowerlow and its made me belive its no downtrend because definiton its lowerlows and lowerhighs thank you pips29 I watched pent56 trades and continue to watch and learn from him too
That's exactly what the big boys want you to think...they need an edge to win too and by tricking you into thinking a so called support exist..once awhile I get tricked too,just don't make it a habit
the cautious seldom err....C
  • #6,671
  • Feb 7, 2020 9:28am Feb 7, 2020 9:28am
Quoting Pent56
{quote} I would call myself a student of traderathome (TAH) and his PVSRA (Price, Volume, Support & Resistance analysis) method. I owe a lot to him and his teachings. A large part of that method is trading with the trend, looking at price action and where the price is in relation to support and resistance. He also taught me a lot about how the market works. I then spent some time studying the 10/34 ema trend and using the Stochastic to time entries when price entered the kill zone (inside the shaded area you show here and price on the Stoch being...
I can only say the hours you spend are not wasted..there are many others who spent far longer hours and are still jumping from thread to thread.One just pop in just very recently
the cautious seldom err....C
  • #6,672
  • Edited 10:52am Feb 7, 2020 10:36am | Edited 10:52am
I will be calling it a day with these trades closed..have a nice weekend,,,going into the weekend flat EDit: if you saw support zone for cable @1.2980-1.2960, I recommend paying a visit to specsavers
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the cautious seldom err....C
  • #6,673
  • Feb 7, 2020 11:35am Feb 7, 2020 11:35am
Quoting pips29
{quote} That's exactly what the big boys want you to think...they need an edge to win too and by tricking you into thinking a so called support exist..once awhile I get tricked too,just don't make it a habit
how its the trick working? they make bull entry bar pattern and we enter and then price touches stop loss? this its what you mean?
Quoting pips29
{quote} I can only say the hours you spend are not wasted..there are many others who spent far longer hours and are still jumping from thread to thread.One just pop in just very recently
if you talking about me its fine
I already said everything its true that you said above
I admited its my fault because Im not profitable trader and strategies I used dont had fault
the fault its mine
  • #6,674
  • Feb 7, 2020 12:02pm Feb 7, 2020 12:02pm
Quoting forexdg
{quote} how its the trick working? they make bull entry bar pattern and we enter and then price touches stop loss? this its what you mean? {quote} if you talking about me its fine I already said everything its true that you said above I admited its my fault because Im not profitable trader and strategies I used dont had fault the fault its mine
I don't have the charts in front of me as l have logged off from the computer. If you look at cable the same thing happened. Looked like there was support below and price blew through it. All the stops who were long got stopped out. You must observe what the big boys have been doing previously to understand their next move and no I wasn't referring to you as the hopper. I am willing to assist you to make you a profitable trader if you allow room for change. Some do not want to change and so there's nothing I can do
the cautious seldom err....C
  • #6,675
  • Feb 7, 2020 12:57pm Feb 7, 2020 12:57pm
Quoting pips29
{quote} I don't have the charts in front of me as l have logged off from the computer. If you look at cable the same thing happened. Looked like there was support below and price blew through it. All the stops who were long got stopped out. You must observe what the big boys have been doing previously to understand their next move and no I wasn't referring to you as the hopper. I am willing to assist you to make you a profitable trader if you allow room for change. Some do not want to change and so there's nothing I can do
understood
they create idea that bars cant go lower because its support but its a trap for bull traders
of course I allow roo for change
I only want to be profitable some day
thank you for assistance
  • #6,676
  • Feb 8, 2020 5:15am Feb 8, 2020 5:15am
This is something I look on a chart..I have shaded an area where price has rejected making us see and think it's a support zone..I believe the big boys want us to think like that ..I reckon price will fall into that area to trap buyers and move price lower ,perhaps to the level lower where I marked or maybe even lower than that which is also a possibility..with this info I plan how to trade this pair...ofc you must trade with a set up and not blindly
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #6,677
  • Feb 9, 2020 9:58am Feb 9, 2020 9:58am
scrambleguy, I am not referring to you,as a matter of fact I enjoy reading your posts.I am referring to someone with a red thingy who just pop in and made some unwarranted comments out of the blue
the cautious seldom err....C
  • #6,678
  • Feb 9, 2020 10:07am Feb 9, 2020 10:07am
Quoting pips29
scrambleguy, I am not referring to you,as a matter of fact I enjoy reading your posts.I am referring to someone with a red thingy who just pop in and made some unwarranted comments out of the blue
Ah good thanks pips, I wanted to continue on this thread as I believe your one of the naturals but didn't think you where keen on my posts, I will re apply right away!
  • #6,679
  • Feb 9, 2020 10:12am Feb 9, 2020 10:12am
there is some debate where cable will go next week on some other threads, one believe a target of 1.2600 and another 1.3400..I'm not bothered who is correct but looking at the charts I reckon a test of the 200 ema on the daily is likely..someone pointed out the support at the level of 1.2770 give or take 10 pips..well, we just have to wait and see but short to the 200 ema on the daily does look good and if I do get a nice set up on M5 I will probably take it looking for 20-50 pips
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the cautious seldom err....C
  • #6,680
  • Feb 9, 2020 10:15am Feb 9, 2020 10:15am
Quoting Scrambleguy
{quote} Ah good thanks pips, I wanted to continue on this thread as I believe your one of the naturals but didn't think you where keen on my posts, I will re apply right away!

No, his is referring to me,because I asked him regular questions on forex forum,I didn't know they are forbidden here.
Whether you think you can, or you think you can't,you're right. H.F.
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