Disliked{quote} good observations. I look at the swing highs and swing lows with Fractals ... that big bar/candle is in question ... I would not take that trade. {image} ...Ignored
- Post #128,743
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- Jan 18, 2022 5:37pm Jan 18, 2022 5:37pm
- Joined Nov 2008 | Status: Member | 36,539 Posts
{quote} Emmanuel, could you explain what it is about that big candle that you don't like? Thanks.
with that big bar/candle at the time of your entry, the swing high was not confirmed.
it need two bars/candle after to close with lower highs for the fractal (high) to form and confirm a swing high.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #128,744
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- Edited at 5:28am Jan 19, 2022 2:21am | Edited at 5:28am
{quote} {image} with that big bar/candle at the time of your entry, the swing high was not confirmed. it need two bars/candle after to close with lower highs for the fractal (high) to form and confirm a swing high. {image}
The reason I am asking is that it seems that a doji signals a trend change in most cases. [EDIT: Whenever there is a trend change, in most cases a doji appears at the change]. So I want to work out if there is something about those dojis that tells me more, for example are smaller ones less significant than larger ones etc?
- Post #128,746
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- Jan 19, 2022 5:42am Jan 19, 2022 5:42am
- Joined Oct 2020 | Status: Member | 2,273 Posts
Hey guys Had a question, do you think it would be possible to use currency strength with the TMS Strategy so you know whats in a trend or not? And how do you guys use HTF analysis with TMS? Like example: If you have entries on the 4H TF and you need to know the direction of the 1D TF can you guys explain how you guys do it and what do you use?
I missed your PM.
You asked about the reason of not using HTF. It is because the HHHL, LHLL pattern is sufficient to obtain information of trend. If you trade like BigE where he catch a swing (he exited at any pullback), then the long term trend is not super important (he traded both trend following and countertrend). On the contrary, HTF can get in your way and miss some valid setups.
A few examples of trades following HHHL, LHLL. You have to develop your rules. It can be strictly following a rigid HHHL/LHLL pattern, or conditions where you can stay your bias at slight violation.
Remember I just showed you one PA elements, there are others you can apply in your trading
Good luck.
- Post #128,747
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- Jan 19, 2022 5:44am Jan 19, 2022 5:44am
- Joined Oct 2020 | Status: Member | 2,273 Posts
{quote} Hi Ttxiii, I missed your PM. You asked about the reason of not using HTF. It is because the HHHL, LHLL pattern is sufficient to obtain information of trend. If you trade like BigE where he catch a swing (he exited at any pullback), then the long term trend is not super important (he traded both trend following and countertrend). On the contrary, HTF can get in your way and miss some valid setups. A few examples of trades following HHHL, LHLL. You have to develop your rules. It can be strictly following a rigid HHHL/LHLL pattern, or conditions...
- Post #128,748
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- Jan 19, 2022 6:26am Jan 19, 2022 6:26am
- Joined Nov 2008 | Status: Member | 36,539 Posts
{quote} Thank you. I don't use fractals, so is there anything using the theory of HA candles or plain PA that would signal caution around that big candle? The reason I am asking is that it seems that a doji signals a trend change in most cases. [EDIT: Whenever there is a trend change, in most cases a doji appears at the change]. So I want to work out if there is something about those dojis that tells me more, for example are smaller ones less significant than larger ones etc? {image}
the core of Big E' 5-Method is based on the Natural Flow of the Market forex system by Craig Harris and the swing highs and swing lows are with price fractals.
the True Reversal is based on 5 bars fractal ... with bars 1,2,3,4 and 5.
bar5 must always close above or below bar1.
without a true reversal as mentioned in Post#261, there is no trade setup. The TDI RSI green price line is just a filter to pick the price momentum of bar5.
GJ H4 Jan 19
- lots of setups ... reversal and continuation, seen with the APB/HA candle turned off.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #128,749
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- Jan 19, 2022 6:36am Jan 19, 2022 6:36am
- Joined Nov 2008 | Status: Member | 36,539 Posts
{quote} The basis of PA is the interaction between ranges and trends. If you trade a trend long, you watch out for Higher Highs, Higher Lows (swing points). If you trade short, you watch out for lower highs and lower lows. You also want to take a look at what the candles within the trends or ranges portray, are they small or large, do they have large bodies or large wicks (like the big candle in your trade)? So what does the big candle mean in you trade? It made a spike up and a spike down, meaning buyers were trying to push it up, but failed, and...
- now watch this H4 candle close and see if we have a setup
- it can be so simple ... just need DISCIPLINE to execute the trade setups
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #128,751
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- Jan 19, 2022 6:50am Jan 19, 2022 6:50am
- Joined Nov 2008 | Status: Member | 36,539 Posts
{quote} US30 Jan 14 trades closed - meet my daily target - closed shop now for early night. {image} ...
US Markets Jan 19 Daily
- nice pull back during London session
- can it move further up and close bull today?
> careful at NY 9:30am candle (Chicago open)
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- Post #128,752
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- Edited at 7:30am Jan 19, 2022 6:57am | Edited at 7:30am
{quote} GJ H4 Jan 19 - now watch this H4 candle close and see if we have a setup - it can be so simple ... just need DISCIPLINE to execute the trade setups {image} ...
But the daily chart looks like price has reached (almost reached) a key level and is currently busy reversing. I have been watching this pair for a few days and have resisted buying.
- Post #128,759
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- Jan 20, 2022 1:20am Jan 20, 2022 1:20am
Trading TMS Classic Way - https://www.forexfactory.com/thread/1114833