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Trading Made Simple

  • #107,261
  • Aug 10, 2020 11:58am Aug 10, 2020 11:58am
Quoting DrDave
{quote} Do you recall that BigE said with HA bars, a move tends to go 3-8 bars? How many down bars do you see before your entry bar? I count 5. If I already have 5 down bars on that chart, I look at a smaller TF with an EXPECTATION that the down move is ENDING. If your entry time was near the end of that bar, then it took only 2 more bars to close on your M15 chart and EXPECTATION CONFIRMED. And if you would have looked at M5 as well, the EXPECTATION is met at the open of the FIRST up bar on M15 rather than on the 2nd up bar. Direction change comes...
Yes, you're right.
But, it's about 4H trading....
on 1H trading, it's a little different.
I think that the entry point is more important than the action after entry.

BTW, thanks!
I will keep your comment. and always thanks!
  • #107,262
  • Aug 10, 2020 12:14pm Aug 10, 2020 12:14pm
Quoting KennethYang
{quote} Yes, you're right. But, it's about 4H trading.... on 1H trading, it's a little different. I think that the entry point is more important than the action after entry. BTW, thanks! I will keep your comment. and always thanks!
TF does not matter because of the fractal nature of the price structure.

When you move to smaller TFs, you just need to have enough volatility for the move to continue to your TP before a direction change.

Other factors, such as number of HA bars per swing, are constant and not dependent on TF.
To free Gazans of Hamas, use whatever it takes.
  • #107,263
  • Aug 10, 2020 12:19pm Aug 10, 2020 12:19pm
Quoting KennethYang
{quote} Yes, you're right. But, it's about 4H trading.... on 1H trading, it's a little different. I think that the entry point is more important than the action after entry. BTW, thanks! I will keep your comment. and always thanks!
Oh higher TFs, like H4, there is a lot more "slop" allowed in your entries because the ATR is so much larger than on a small TF like M15.

This apparent "slop" is really because EVERY TF smaller than H4 is making MULTIPLE swings during a single H4 swing, so it is these multiple "inside" moves that are the "slop".

On MT4, how many TFs do you have below M5 to create "slop" for you?
Exactly 1.

So of course you have to have entries that are more precise than on H4.
To free Gazans of Hamas, use whatever it takes.
  • #107,264
  • Aug 10, 2020 12:21pm Aug 10, 2020 12:21pm
Quoting KennethYang
{quote} Yes, you're right. But, it's about 4H trading.... on 1H trading, it's a little different. I think that the entry point is more important than the action after entry. BTW, thanks! I will keep your comment. and always thanks!
I strongly disagree with that, but if that thinking works for you, keep using it!
To free Gazans of Hamas, use whatever it takes.
  • #107,265
  • Aug 10, 2020 6:28pm Aug 10, 2020 6:28pm
Quoting KennethYang
31st week Aug GBP/AUD 1H I entered 7 times. And I got 100% with TDI. I love this! But, today first trade(GBP/AUD) was loss. I'm in sell now. {image}

Hi Kenneth

You could have make a lot more money in those trades if you had use DM Money Management and Scaling-out /Scaling-in strategy.

You are trading with the Price Action Channel PAC aka know as the "yellow brick road".

I am sure you have watched most of the Synergy tutorial videos posted by the OP in his early years.

For those readin this thread and want to learn more what the OP learned back in 2008 ...

Here are some of those videos now found in youtube.

Synergy Price Action Channel

Keeping It Simple: Follow the Yellow Brick Road

https://www.forexfactory.com/thread/...5#post12543705

Keeping it Simple: Know when not to trade

https://www.forexfactory.com/thread/...5#post12931785

When to Exit a Winning Trade
https://www.forexfactory.com/thread/...8#post12949778
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,266
  • Aug 10, 2020 6:38pm Aug 10, 2020 6:38pm
Quoting emmanuel7788
NZDCAD and EURCAD H1 sell opportunity ... 6AM EST NY make you own evaluation and follow your trade plan.

which pair did you have in your trade plan yesterday?
which pair did you picked?
or
you traded both pairs being 'greedy' when others were 'fearful'....

Attached Image (click to enlarge)
Click to Enlarge Name: NZDCAD Aug 10 H1 11-8-2020 7-35-56 am.png Size: 48 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD Aug 10 H1 POMO 11-8-2020 7-34-38 am.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,267
  • Aug 10, 2020 6:41pm Aug 10, 2020 6:41pm
Quoting nigpig
{quote} NZDCAD short going well so far. TP1 hit for +15 and move SL for TP2 and 3 to BE+2. TP2 = 25 and TP3=75. {image}



Follow up the same two pairs today and rest of this week.... also look at the other CAD pairs.

Your chances of trading success is much better when you make the transition to trading the H4 and Daily.
Trading the H4 and Daily also mean you can trade H1 charts during the most liquid sessions during the day... the European and US market session.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,268
  • Aug 10, 2020 6:52pm Aug 10, 2020 6:52pm
Quoting KennethYang
31st week Aug GBP/AUD 1H I entered 7 times. And I got 100% with TDI. I love this! But, today first trade(GBP/AUD) was loss. I'm in sell now. {image}

also this old post by the OP also explain how the original TDI was use with the PAC.

#168
https://www.forexfactory.com/thread/...99#post3324799

very 'busy' chart with some many lines and that colour.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 168.png Size: 218 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,269
  • Aug 10, 2020 6:59pm Aug 10, 2020 6:59pm
EURAUD Aug 11 H1 ...

a H1 setup very near BRN 1.6400

take-off is important , and landing also important
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,270
  • Aug 10, 2020 7:07pm Aug 10, 2020 7:07pm
Quoting KennethYang
{quote} Yes, you're right. But, it's about 4H trading.... on 1H trading, it's a little different. I think that the entry point is more important than the action after entry. BTW, thanks! I will keep your comment. and always thanks!

H4 has 29 bars/candles in one week.(some brokers have the Sunday candles, so that make 30 bars/candle in same week)

H1 has 24 bars/candles in one day.

what the OP said about each swing move 3 to 8 HA candles was true when he was trading GBPUSD M15 using CraigHarris Stochastics Method and it was Craig who said that each M15 swing move 3 to 8 bars/candles in his videos and that has to do with his study using the Asian Channel of minimum 40 pips.

Has this been proven with trading results over the past 10 years? NO!.

Is this still true that each swing is 3 to 8 HA candles? Yes, sometimes but not all the time... nothing is 100% in trading the markets.

If the market makes swing of 3 to 8 bars(H4 and H1) , what type of market condition would you be trading?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,271
  • Aug 10, 2020 7:12pm Aug 10, 2020 7:12pm
Aug 11 H1 trading

I just open buy AUDJPY H1 and sell EURAUD H1 ...

trading chart later .... my breakfast counter is in a mess with my grand kids around now....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,272
  • Aug 10, 2020 7:23pm Aug 10, 2020 7:23pm
EURCAD Aug 11 H1

- a DBHLC H1 setup in the H4 swing ...

- sell H1
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,273
  • Aug 10, 2020 8:00pm Aug 10, 2020 8:00pm
Quoting emmanuel7788
{quote} Hi Kenneth You could have make a lot more money in those trades if you had use DM Money Management and Scaling-out /Scaling-in strategy. You are trading with the Price Action Channel PAC aka know as the "yellow brick road". I am sure you have watched most of the Synergy tutorial videos posted by the OP in his early years. For those readin this thread and want to learn more what the OP learned back in 2008 ... Here are some of those videos now found in youtube. Synergy Price Action Channel Keeping It Simple: Follow the Yellow Brick Road https://www.forexfactory.com/thread/...5#post12543705...
How do you think about PAC?
is this good or not?

You don't use PAC, right?

Anyway thank you!
  • #107,274
  • Aug 10, 2020 11:01pm Aug 10, 2020 11:01pm
USDCAD Aug 11 H4

nice NRI4B breaking out!

another 1-hour to see if it hit the next BRN 1.3300 ... sell H1.


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Aug 11 H4 to 13300 11-8-2020 11-58-37 am.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,275
  • Aug 10, 2020 11:24pm Aug 10, 2020 11:24pm
Quoting KennethYang
{quote} How do you think about PAC? is this good or not? You don't use PAC, right? Anyway thank you!

I still think the use of price channel approach is very good. I am still using this same price channel approach in my technical analysis and also in helping traders develop and test their own trading systems. Back in 2015, there were some discussion on other price channel like the Starc band based on price volatility.

I have DM' orginal PAC as one of my many templates collected over the many years. DM has been 'fine tuning' his Synergy trading model over the years, the original PAC has been added a Shift+1 and later one he developed a totally new PAC in his Synergy_Pro system.

I was a member of Elliot Wave International for a few years and Jeffrey Kennedy was a good coach.
Download this pdf click to {download}
Read pdf : "High Probability Trading Opportunities Using Moving Averages" page 6 Moving Average Price Channel.

Have Fun while you find your way forward!

Edit:
By the way, if you want a good M5 scalping method, there is the 5M MOMO by Kathy Lien/Boris Schloessberg. It uses a 10EMA channel.
Google search "5minute MOMO" will get you there.
https://www.investopedia.com/article...inute-momo.asp
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,276
  • Aug 10, 2020 11:28pm Aug 10, 2020 11:28pm
Quoting emmanuel7788
{quote} I still think the use of price channel approach is very good. I am still using this same price channel approach in my technical analysis and also in helping traders develop and test their own trading systems. Back in 2015, there were some discussion on other price channel like the Starc band based on price volatility. I have DM' orginal PAC as one of my many templates collected over the many years. DM has been 'fine tuning' his Synergy trading model over the years, the original PAC has been added a Shift+1 and later one he developed a totally...
Thank you very much!!
  • #107,277
  • Aug 10, 2020 11:32pm Aug 10, 2020 11:32pm
Quoting emmanuel7788
AUDJPY Aug 10 H1 6AM PDT H1 DBLHC setup H4 NRI4B breakout {image} {image}

AUDJPY Aug 10 H1 trades closed

- TP1 +10 pips hit that BRN 7600
- remaining positions trade closed on the BRN rebound +2 pips

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Aug 10 H1 trades closed 11-8-2020 6-49-20 am.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,278
  • Aug 10, 2020 11:45pm Aug 10, 2020 11:45pm
Quoting KennethYang
GBP/AUD 1H buy {image}
Reading the exchange between you and Dave and your remark " I consider something to avoid in that cases"

You have already got something. The angle of TDI green. Use it.
Post 107,236 Look at that green angle > between 2/4 == No trade.
---
You say you look at H1/H4 and don't post H1H4 combine chart.
(Broker does not have GBPAUD - using https://www.tradingview.com/)

Did you look at H4 before closing that trade, you would have notice that green angle is above angle 2.
What did your method showed you on H4?
------
It is easy to post in hindsight (do this / do that). Also H1 goes four times into H4 and a lot can happen in four * H1 hour's.
Attached Image (click to enlarge)
Click to Enlarge Name: gtreds.PNG Size: 126 KB
  • #107,279
  • Aug 10, 2020 11:49pm Aug 10, 2020 11:49pm
Quoting Tekkies
{quote} Reading the exchange between you and Dave and your remark " I consider something to avoid in that cases" You have already got something. The angle of TDI green. Use it. Post 107,236 Look at that green angle > between 2/4 == No trade. --- You say you look at H1/H4 and don't post H1H4 combine chart. (Broker does not have GBPAUD - using https://www.tradingview.com/) Did you look at H4 before closing that trade, you would have notice that green angle is above...

@Tekkies

it is almost 1am EST NY or the 10PM PDT H4 candle.

Now you can post a live chart and walk the talk.

Talk the talk is for hindsight trading gurus.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #107,280
  • Aug 10, 2020 11:57pm Aug 10, 2020 11:57pm
GBPNZD Aug 11 H4 10PM coming up ...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD Aug 11 H4 10PM PDT 11-8-2020 12-56-33 pm.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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