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PA Trading with EMAs and common Sense

  • #161
  • Mar 5, 2023 12:22am Mar 5, 2023 12:22am
Al Brooks
Reading Price Charts Bar by Bar
The Technical Analysis of Price Action for the Serious Trader


Quote
Preface
The most useful tools for understanding price action are trendlines and trend channel lines, prior highs and lows, breakouts and failed breakouts, the size of bodies and tails on candles, and relationships between the current bar to the prior several bars. In particular, how the open, high, low, and close of the current bar compare to the action of the prior several bars tells a lot about what will happen next. Most of the observations in this book are directly related to placing trades, but a few have to do with simple curious price...

atb vvm
PA Trading with EMAs & common Sense
  • #162
  • Mar 5, 2023 11:58pm Mar 5, 2023 11:58pm
Hi there,

new Day new Happiness

atb vvm
PA Trading with EMAs & common Sense
  • #163
  • Mar 6, 2023 1:24am Mar 6, 2023 1:24am
hi, nice trades last week...

if by happiness you mean profits, then bring on the happiness!


it was a gentle start to the week...

AUDUSD 1M

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then straight into battle, cost averaging to the rescue!

EURUSD 1M

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every minute matters!
  • #164
  • Mar 6, 2023 2:00am Mar 6, 2023 2:00am
Quoting niks
hi, nice trades last week... if by happiness you mean profits, then bring on the happiness! it was a gentle start to the week... AUDUSD 1M {image} then straight into battle, cost averaging to the rescue! EURUSD 1M {image}{image}{image}{image}
Niks, Good Day for U!!
PA Trading with EMAs & common Sense
  • #165
  • Mar 6, 2023 2:07am Mar 6, 2023 2:07am
Unfortunately, I will no longer be showing live trades.
This is very emotional for me
I lose focus
and make small mistakes.

atb vvm
PA Trading with EMAs & common Sense
  • #166
  • Mar 6, 2023 2:25am Mar 6, 2023 2:25am
Quoting vvm
Unfortunately, I will no longer be showing live trades. This is very emotional for me I lose focus and make small mistakes. atb vvm
that makes sense, i rarely show a live trade, we are not a signal service here!

it helps me to take snapshots of an interesting live trade along the way and will post it later

hope you don't stop showing your trades though...
every minute matters!
  • #167
  • Mar 6, 2023 3:42am Mar 6, 2023 3:42am
AUDJPY
H1 bought, LOSS

s. Chart

atb vvm
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PA Trading with EMAs & common Sense
  • #168
  • Mar 6, 2023 6:10am Mar 6, 2023 6:10am
Quote
AUDJPY
H1 bought, LOSS

My Mistake I bought with a marketOrder bellow the Engulfing H

I had to buy with a BuyStopOrder above this Engulfing
In this Fall the Order were not triggererd
I was in Hurry to make Money and got lost
Attached Image (click to enlarge)
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s. Chart
atb vvm
PA Trading with EMAs & common Sense
  • #169
  • Mar 6, 2023 6:26am Mar 6, 2023 6:26am
Quoting vvm
{quote} My Mistake I bought with a marketOrder bellow the Engulfing H I had to buy with a BuyStopOrder above this Engulfing In this Fall the Order were not triggererd I was in Hurry to make Money and got lost{image} s. Chart atb vvm
sorry to see this loss - in hindsight i see two main problems that caused it to fail

first is the ema rejections showing a downtrend,

and second, from a lesson i learnt during a webinar that never occurred to me regarding engulfment, is,

out of the three engulfment's that are circled, which one is the MOST powerful and why?

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the second is the most powerful engulfment because it is the one that engulfs the largest bar, the second most powerful engulfment is also bearish, the bullish engulfment you relied on engulfed a very small weak candle which is also a weak engulfment

anyway, thanks for sharing...
every minute matters!
  • #170
  • Mar 6, 2023 6:35am Mar 6, 2023 6:35am
niks,
thanks for Sharing too
atb vvm
PA Trading with EMAs & common Sense
  • #171
  • Mar 6, 2023 6:59am Mar 6, 2023 6:59am
Quoting vvm
niks, thanks for Sharing too atb vvm
my pleasure vvm - i know the feeling of being in a "hurry" to make a trade - and the consequences as well!

and just one final thought on this one - it is also obvious now that the weak bullish engulfment's were in this case and and generally are the best times to oppose them, not follow them...

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every minute matters!
  • #172
  • Mar 6, 2023 8:01am Mar 6, 2023 8:01am
AUDUSD 1M

no other reason other than a STRONG bearish engulfment at a point of resistance

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if it breaks and holds ema50 then it should reach target

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almost there, stop loss just in case...

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and manually closed before target due to price action however it should reach it, just being safe...

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every minute matters!
  • #173
  • Mar 6, 2023 9:26am Mar 6, 2023 9:26am
USDCHF H1 solled PuB to 18MA
RR 1:1

s. Charts

atb vvm
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PA Trading with EMAs & common Sense
  • #174
  • Mar 6, 2023 10:48am Mar 6, 2023 10:48am
Quoting vvm
Unfortunately, I will no longer be showing live trades. This is very emotional for me I lose focus and make small mistakes. atb vvm
If posting live is affecting your psychology then don't do it. MUST remember we are in this game for ourselves not for anyone else. We post online to help ourselves with our trading.

Quote
USDCHF H1 solled PuB to 18MA
RR 1:1

Nice! I was looking at the same but no R:R for me.

Frustrating day for me. Was watching EU with same idea from last Friday. The candle that I was watching to enter on didn't engulf so I couldn't enter and the next candle confirmed the trade but I never got a retrace for an entry.
  • #175
  • Mar 6, 2023 10:50am Mar 6, 2023 10:50am
Quoting vvm
AUDJPY H1 bought, LOSS s. Chart atb vvm {image}
I was actually looking for shorts as I saw no reason to buy. Reason attached. Strong downtrend. VERY steep trendline.

It's similar to your other EJ trade where it is reacting to a key zone but no change in structure.
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  • #176
  • Mar 6, 2023 10:50am Mar 6, 2023 10:50am
Quoting niks
AUDUSD 1M no other reason other than a STRONG bearish engulfment at a point of resistance {image} if it breaks and holds ema50 then it should reach target {image} almost there, stop loss just in case... {image} and manually closed before target due to price action however it should reach it, just being safe... {image}
Nice one bro, nice and simple.
  • #177
  • Mar 6, 2023 12:43pm Mar 6, 2023 12:43pm
Hi thehusla,

U and niks are 100% right

Sometime my ChartReading is complete false

atb vvm
PA Trading with EMAs & common Sense
  • #178
  • Mar 6, 2023 3:45pm Mar 6, 2023 3:45pm
Quoting vvm
Hi thehusla, U and niks are 100% right Sometime my ChartReading is complete false atb vvm
Don't worry, sometimes mine is as well. We are all learning.
  • #179
  • Mar 7, 2023 1:35am Mar 7, 2023 1:35am
Quoting TheHusla
{quote} Don't worry, sometimes mine is as well. We are all learning.
that's for sure, price action like anything else in trading is never guaranteed

more often, what might appear to be a correct reading turns out to be false...

this trade i just finished was 50\50 in terms of price action on the ema200, but i would of normally taken a short on price action alone, but went long instead, there was an indicator involved behind this particular trade decision, but as we don't discuss them here, i'll claim it was the price action alone after the last bullish candle broke and held ema200 despite the wicks suggesting otherwise!

EURUSD 1M

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every minute matters!
  • #180
  • Mar 7, 2023 2:10am Mar 7, 2023 2:10am
USDCAD BOUGHT H4

One from last night
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