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How Wags Trades - TAS System

  • #121
  • Jun 18, 2020 9:07am Jun 18, 2020 9:07am
Quoting diamonddbw
{quote} +++++++++++++++++++++++ No. We are usually drawing lines which are opposed to one another. Post 100 shows lines going at the same angle. Just wondered why you liked those two.

Ah ok , well i always look at the bigger pictore, but for me divergence is the difference between price and OBV wether its opposite directions or not

If i think its strong enough and price is in what i think is an area of value at that point i will enter, trades will come around that will show it
  • #122
  • Jun 18, 2020 1:14pm Jun 18, 2020 1:14pm
On my watchlist:

Waiting on some MA Verification
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  • #123
  • Jun 18, 2020 5:39pm Jun 18, 2020 5:39pm
Quoting Rafaz1
{quote} Hi is there a way to have this indicator MQL4 file, the reason I ask is that i would like to control the length of the lines and where I would like them displayed, for example, i don't like the lines being drawn all the way across the right-handside of the screen. Attached screen shot{image}
In Post 24 I posted RN50 which does exactly that. Lines on screen right only.
  • #124
  • Jun 18, 2020 8:54pm Jun 18, 2020 8:54pm
Started reading the thread. It seems too good to be true

Quoting Wags
TAS Forex Strategy Explained Some of you will read this and some of you will not, Some of you will make money and some of you will not. How i run through a trade setup, In my brain it takes a few minutes, But in writing it takes a lot longer to explain, so do not be put off by the following as i am cramming minutes into many words. 1. First Things First First of all my name is Paul, i am from the United Kingdom and have now been studying Forex trading for the past 7 years starting of with binary options for 3 years before transferring to Forex and...
  • #125
  • Jun 19, 2020 1:47am Jun 19, 2020 1:47am
Quoting juliojapan
Started reading the thread. It seems too good to be true {quote}
How far did you read?
  • #126
  • Jun 19, 2020 1:48am Jun 19, 2020 1:48am
Wont be around today

But just moved my SL a bit tighter on EC

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  • #127
  • Jun 19, 2020 1:52am Jun 19, 2020 1:52am
NZDCAD, looks good.
  • #128
  • Jun 19, 2020 9:09am Jun 19, 2020 9:09am
Correct me if im wrong but does this AU trade look okay to enter?
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  • #129
  • Jun 19, 2020 10:07am Jun 19, 2020 10:07am
Quoting AnarBorgil
Correct me if im wrong but does this AU trade look okay to enter? {image}
+++++++++++++++++++++++

I looked at all Aud pairs earlier, and decided to stand aside based on general consolodation. HOWEVER, that's just my take!

Wags will not be around today, so he may have a different perspective.
  • #130
  • Jun 19, 2020 4:48pm Jun 19, 2020 4:48pm
Quoting swayam1069
Hey Wags, Seeing the behaviour of Euro, would you suggest taking trades at this point specifically pointing at the EURAUD in your recent chart?

Hi Sway

I seen a setup that caught my eye early in the week it was on EU pair, then notice most EU pairs were showing weaker Euro based on the strategy, I entered a EU pair which fell into place best with the strategy at the time, other EU pairs fell into place as well in the following 24-48 hours, On thursday i scanned the charts as i always do and there was a strong short term divergence on two pairs (EA and EC) complimenting the already established weakening of euro, also i noticed these two pairs were well lagging the rest of the EU pairs so thought with the divergence would be worth an entry for some pips.

I did the same with GBP as it was showing the same setups , its in an earlier post.

I only enter if its an area of value, i do not re-enter based on 50 MA's i use them as a confirmation combined with OBV.

At this time there is no point trying to enter a trade on Euro pairs until it gives us a new area of value like below, you can see how price has turned and then retraced but OBV is not in correlation with price, this is a trend change setup, next setups will be to see if trend holds based on OBV and OBV MA's for re-entering for continuation.

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Short term Divergence is just a confirmation of the bigger picture and helps stay in a trade or maybe thinking time to get out if its strong enough

Short term divergence will most of the time make you some pips but its not the be all and end all, its just one part of a pattern

As time goes on this strategy will reveal how powerful it acually is

If it looks messy most of the time it ends messy
  • #131
  • Edited 5:30pm Jun 19, 2020 4:57pm | Edited 5:30pm
Quoting AnarBorgil
Correct me if im wrong but does this AU trade look okay to enter? {image}

Strong hidden divergence there and previous divergence , OBV is making LL and LH's and all MA's looking good with divergence from Price MA's and OBV MA's

Nice rejection from 0.69000 as well, this must surely continue down

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  • #132
  • Edited 5:33pm Jun 19, 2020 5:11pm | Edited 5:33pm
Quoting diamonddbw
On my watchlist: Waiting on some MA Verification {image}

Hi Diamond

Thats a reversal trade, me and my friend chris also have this setup in our strategy but we find it can really catch you out bad sometimes, you are going against the trend on H1

Lets look at the past week

Euro = weak

Gbp = weak

GBPUSD = GBP very weak

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EURUSD = EUR weak

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EURGBP = Euro Stronger

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Also very messy

Possible uptrend in the making but value will be much lower
  • #133
  • Jun 20, 2020 6:00am Jun 20, 2020 6:00am
Will be keeping my eye on CADJPY on monday to see if we can get a retrace back to 200 MA's with some short term divergence

Then see if any correlation CAD or JPY pairs also

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  • #134
  • Jun 20, 2020 9:47am Jun 20, 2020 9:47am
Can I have yout thoughts on this?
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  • #135
  • Edited 12:02pm Jun 20, 2020 11:49am | Edited 12:02pm
Quoting juliojapan
Can I have yout thoughts on this? {image}

Very colourful

Seriously though its aready in a sell trade as far as the strategy is concerned, i entered EURCHF instead of EURUSD as it was a clearer picture for the divergence against the MA's

So as far as entering a trade at the moment its best left alone until

A) a retrace comes with OBV and OBV MA's holding a divergence/confluence with price and price MA's

B) Retracement comes but OBV and OBV 50 MA show a upward movement toward its 200 MA's as this could mean bigger retrace or a turn around

Below is the difference between the two pairs as of the entry, although you could enter EU based on EC as well for the correlation

EURUSD

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EURCHF

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  • #136
  • Jun 20, 2020 12:41pm Jun 20, 2020 12:41pm
Truly got a wealth of info from Post#' 130 on, with the help of my faithful study assistant. Thanks Wags. Will be posting my take on some of these set ups, later today. Right now building my first Lithium/Ion battery.

Assistant:
Inserted Video
  • #137
  • Jun 20, 2020 6:32pm Jun 20, 2020 6:32pm
I'm starting see this pattern, and how it may be traded.

With a consistent OBV direction, as marked in sub-graph, this looks like good places to take pull backs. This chart happens to be AudUsd H4.

Thoughts?
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  • #138
  • Jun 20, 2020 9:01pm Jun 20, 2020 9:01pm
The OBV indicator with 200 EMA is so impressive. How can I add EMA to it on android MT4?
  • #139
  • Jun 21, 2020 5:53am Jun 21, 2020 5:53am
Hi Paul
First thanks vm for your really nice system, looks excellent in the past.
I have 2 questions about the entry.
1. If I understood you right, you have a static SL of 100 pips for ever currency pair. Why not a SL based on ATR? What is your idea behind?
2. If the price reaches Area of Value and a divergence is there plus a round number are you triggering the deal asap at the round number or are you waiting for a consolidation of the price? And how are you using the 15m for fine tuning as mentioned earlier.

Thanks and wish everybody a lot of green pips.
ManilaSpurs
  • #140
  • Jun 21, 2020 7:24am Jun 21, 2020 7:24am
Quoting fxpipped
The OBV indicator with 200 EMA is so impressive. How can I add EMA to it on android MT4?

I dont think Mobile apps support this , shame really
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