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New Cable Thread & Other Pairs

  • #7,801
  • Jul 22, 2024 12:40am Jul 22, 2024 12:40am
looking for some more downward movement in EJ this week.
already short and looking to add as we go.
EJ H4

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Its all just one persons opinion
  • #7,802
  • Jul 22, 2024 3:05am Jul 22, 2024 3:05am
Quoting axecap
looking for some more downward movement in EJ this week. already short and looking to add as we go. EJ H4 {image}
You are smashing it!!
We watch the charts from every angle so you don't have to!!
  • #7,803
  • Jul 22, 2024 3:10am Jul 22, 2024 3:10am
EU, GU and Gold
Still same.
We are waiting for this kind of move, currently forming right arm of the H&S, after that I expect drop to 1.0840, good support to buy more.
Plenty of trades long and short.
I am keeping buys atm.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 11 KB
We watch the charts from every angle so you don't have to!!
  • #7,804
  • Edited 3:34am Jul 22, 2024 3:11am | Edited 3:34am
Quoting birdland
{quote} I have another question regarding the TMA, which you also use. mine is non-repainting, i have it from "george AUS" which I prefer as you can see on the chart. is there a special reason why you use a repainting TMA? thank you {image}
Let me give you an outline of what Extreme TMA is. As you know, most forces in nature are composed of waves or cycles. There are smaller time frame cycles within larger time frame cycles in everything. An example is the 24 hour cycle of the moon around the earth, simultaneous with the 365 day cycle of the earth around the sun. This happens in markets also.
A TMA channel standing alone is not of much use. Similarly to the Bollinger Bands, it is supposed to give you overbought and oversold levels, but in reality these are of little use because they can go on much further than the bands.
The magic starts when you plot two TMA´s of different TF on the same chart. I use the H4 (Magenta) and D1 (Royal Blue), but you can use any two TMAs or more. The D1 and W1 combination is also useful to see in which direction the D1 will be moving. Or if you don´t mind all the colored spaghetti, you can plot all three: H4, D1 and W1 on the same chart. I like clean charts so I only use the H4 and D1. As you can see on the attached chart, the H4 TMA constantly swings from side to side of the D1 TMA. I have marked the areas of overlap with letters. These are the areas of interest for us. When an overlap occurs, I call it Extreme TMA. In an overlap, once the H4 TMA begins to turn sideways, I zoom in to my other M30 chart which I also attached (The 10 EMA-20 EMA chart) and start looking for the crossover that I explained on Friday. There are many nuances and anomalies in the Extreme TMA system which are important to know, but this gives you a brief overview. On Friday, most people were looking for Gold to move higher. From my tens of thousands of hours working with Extreme TMA, I knew it was ready for a big fall and took advantage of it.

The way I trade the system is:
1- Review all pairs with the H4-D1 chart with a Symbol Changer indicator in order to identify pairs that are in Extreme TMA.
2- Review these ETMA pairs looking for the 10EMA-20EMA crossover to enter the initial trade.
3- Add to the trade on rebounds to the 10 EMA.
4- Only trade in the direction of the H4 TMA until the overlap of the D1 TMA occurs on the other side.

By the way, you can use repainting or non repainting TMAs. Both serve the same purpose, which is to determine overlap. I like my Fast TMA Line indicator (attached) because it is smoother and looks cleaner on the chart. I use a period of 25 and a Multiple of 1.0 but you can use other settings as well. 50 period and 2.0 multiple work out nicely also.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSD - H4-D1 TMAs.png Size: 157 KB
Click to Enlarge Name: XAUUSD,M30.png Size: 160 KB
Attached File(s)
File Type: mq4 FastTMALine.mq4   10 KB | 191 downloads
Observation is the path to discovery.
  • #7,805
  • Jul 22, 2024 3:48am Jul 22, 2024 3:48am
Quoting pedro319
EU, GU and Gold Still same. We are waiting for this kind of move, currently forming right arm of the H&S, after that I expect drop to 1.0840, good support to buy more. Plenty of trades long and short. I am keeping buys atm. {image}

We had a bearish H&S form on the H1 & H4 TF from 11 July Up until 17 July
Long term trend changed from from bull to short
Attached Image (click to enlarge)
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Rra di chelete
  • #7,806
  • Jul 22, 2024 4:01am Jul 22, 2024 4:01am
Quoting Alorente
{quote} Let me give you an outline of what Extreme TMA is. As you know, most forces in nature are composed of waves or cycles. There are smaller time frame cycles within larger time frame cycles in everything. An example is the 24 hour cycle of the moon around the earth, simultaneous with the 365 day cycle of the earth around the sun. This happens in markets also. A TMA channel standing alone is not of much use. Similarly to the Bollinger Bands, it is supposed to give you overbought and oversold levels, but in reality these are of little use because...
yes, now i understand you better. you went beyond answering my question and went straight into detail. thank you for these clear words, it is clear that you have a great deal of expertise in TMAs.

and it makes a hell of a lot of sense to trade like this. if i had no approach to my trading, i would trade like this.

i use the ‘true TMA’ in the 5 minute range to better recognise the range on sideways days and it must not repaint there.

but in your case it's irrelevant, i get it;-)

thx.
trading is like dancing, don't think and just listen to the music!
  • #7,807
  • Jul 22, 2024 4:06am Jul 22, 2024 4:06am
Quoting Tshepside
{quote} We had a bearish H&S form on the H1 & H4 TF from 11 July Up until 17 July Long term trend changed from from bull to short {image}
It's my view that this is the first leg down of retracement on D1, we need to go higher in smaller tf before going lower, when that is finished we should have another leg up. That is the one when we find out whether this was all corrective or continuation.
We watch the charts from every angle so you don't have to!!
  • #7,808
  • Jul 22, 2024 4:12am Jul 22, 2024 4:12am
Quoting Alorente
{quote} I am 74 and sleep sporadically as it is usual at my age. For me it is actually a good distraction to check the chart on the phone when I wake up several times in the middle of the night. Also, at my age, I don´t have a job waiting for me in the morning, so it works all around. You can get around this somewhat by setting a limit order where the next pullback level should happen close to the 10 EMA. You can also limit your trading to the daytime. There are plenty of opportunities during the London and US sessions to make a great profit.
Thank you for sharing the vast experience and knowledge you have gained over the years,
The market is the same, it is important that the young traders here know that there are no new magics or tricks and it is always better to learn from the experience of others, one can say that it only gets more difficult, as technology takes over more and more,
Know what you are dealing with and know how to use it,
'In the clearing stands a boxer And a fighter by his trade..'
  • #7,809
  • Jul 22, 2024 4:25am Jul 22, 2024 4:25am
Quoting birdland
{quote} yes, now i understand you better. you went beyond answering my question and went straight into detail. thank you for these clear words, it is clear that you have a great deal of expertise in TMAs. and it makes a hell of a lot of sense to trade like this. if i had no approach to my trading, i would trade like this. i use the ‘true TMA’ in the 5 minute range to better recognise the range on sideways days and it must not repaint there. but in your case it's irrelevant, i get it;-) thx.
It is clear that you are a scalper. I love scalping also. I still use the same Extreme TMA system to give me the direction of trade, but I use the 3 EMA, 7 EMA and 10 EMA for more precise entries and exits. Attached you can see a Gold M30 chart to see how it looks. You can see how on Friday it did not cross over until today´s open. I reentered last night on the downward crossover.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD-M30 - 3-7-10.png Size: 110 KB
Observation is the path to discovery.
  • #7,810
  • Jul 22, 2024 4:33am Jul 22, 2024 4:33am
Quoting pedro319
{quote} It's my view that this is the first leg down of retracement on D1, we need to go higher in smaller tf before going lower, when that is finished we should have another leg up. That is the one when we find out whether this was all corrective or continuation.
Right this might be a correction or continuation
Rra di chelete
  • #7,811
  • Jul 22, 2024 4:45am Jul 22, 2024 4:45am
Quoting Tshepside
{quote} Right this might be a correction or continuation
We have thrust on the way up and that is why we have to treat it as continuation according to the Fx Bible.
You can still play the lower tfs.
We watch the charts from every angle so you don't have to!!
  • #7,812
  • Jul 22, 2024 4:58am Jul 22, 2024 4:58am
Quoting Alorente
{quote} It is clear that you are a scalper. I love scalping also. I still use the same Extreme TMA system to give me the direction of trade, but I use the 3 EMA, 7 EMA and 10 EMA for more precise entries and exits. Attached you can see a Gold M30 chart to see how it looks. You can see how on Friday it did not cross over until today´s open. I reentered last night on the downward crossover. {image}
interesting, i'll be sure to check it out. i soak up anything that improves my trading with GU. and yes i love scalping, but who knows.

i'm in my 50's and have been trading for over 30 years, been through hell and still feel like i'm at the beginning sometimes.
if i have learnt anything it is discipline and humility.

i don't actually do it for the money (oh yes i need it like everybody), but because it's my calling.
i held charts in my hands for the first time when i was 18 and knew-this is it!
i then drew 50 stocks by hand on graph paper with a pencil and followed them every day. only crazy people do that;-)

at 20 i was a millionaire (in the local currency) and then lost everything again over the years. that's when it really started;-)

managed a lot of money as a hedge fund manager, managed other people's money here and there etc...

but really the best thing is sitting at home and not having to answer to anyone but yourself, making yourself a coffee, watching the birds do their morning routine and the sun come up, maybe some classical music.... that's luxury for me.
trading is like dancing, don't think and just listen to the music!
  • #7,813
  • Jul 22, 2024 5:09am Jul 22, 2024 5:09am
Quoting axecap
looking for some more downward movement in EJ this week. already short and looking to add as we go. EJ H4 {image}
only one persons opinion...you are killing it
I only follow traders with IQ above 160
  • #7,814
  • Jul 22, 2024 5:11am Jul 22, 2024 5:11am
As you know, most forces in nature are composed of waves or cycles. There are smaller time frame cycles within larger time frame cycles in everything. An example is the 24 hour cycle of the moon around the earth, simultaneous with the 365 day cycle of the earth around the sun. This happens in markets also.

Hurst opened that aspect up to me
  • #7,815
  • Jul 22, 2024 5:47am Jul 22, 2024 5:47am
Quoting pedro319
EU, GU and Gold Still same. We are waiting for this kind of move, currently forming right arm of the H&S, after that I expect drop to 1.0840, good support to buy more. Plenty of trades long and short. I am keeping buys atm. {image}
Slow morning, the dollar seems to be doing a bit of a retracement, the only interesting position I found is gold 2400.53, not bad so far,
'In the clearing stands a boxer And a fighter by his trade..'
  • #7,816
  • Jul 22, 2024 5:59am Jul 22, 2024 5:59am
Quoting GOR
{quote} Slow morning, the dollar seems to be doing a bit of a retracement, the only interesting position I found is gold 2400.53, not bad so far,
Yea all i see is consolidation from a big move down. Watching to see if there will be any break in a certain direction. This could be a consolidation to have more downside or we test a little higher. My TP for a retrace up was already hit (1.09) in Asian market so I feel down side is more likely but till decision is made I'm on sidelines.
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  • #7,817
  • Jul 22, 2024 6:16am Jul 22, 2024 6:16am
Quoting minhtri
{quote} {image} {image}
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  • #7,818
  • Jul 22, 2024 6:22am Jul 22, 2024 6:22am
Quoting minhtri
{image}
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  • #7,819
  • Jul 22, 2024 6:27am Jul 22, 2024 6:27am
Quoting SmallGains
{quote} Yea all i see is consolidation from a big move down. Watching to see if there will be any break in a certain direction. This could be a consolidation to have more downside or we test a little higher. My TP for a retrace up was already hit (1.09) in Asian market so I feel down side is more likely but till decision is made I'm on sidelines. {image}
Looks like a typical Monday, especially after the big move, could go either way, I took TP1 gold and it's getting close to my BE, we'll see if there's any new info in New York,
GL,
'In the clearing stands a boxer And a fighter by his trade..'
  • #7,820
  • Jul 22, 2024 6:36am Jul 22, 2024 6:36am
Quoting birdland
{quote} interesting, i'll be sure to check it out. i soak up anything that improves my trading with GU. and yes i love scalping, but who knows. i'm in my 50's and have been trading for over 30 years, been through hell and still feel like i'm at the beginning sometimes. if i have learnt anything it is discipline and humility. i don't actually do it for the money (oh yes i need it like everybody), but because it's my calling. i held charts in my hands for the first time when i was 18 and knew-this is it! i then drew 50 stocks by hand on graph paper...
"the sun come up, "

The sun -ah yes - I saw it the other day - raced indoors and got my shorts out
every Saint has a past. Every Sinner has a Future
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