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Trading Made Simple

  • #147,461
  • Jul 23, 2024 11:07pm Jul 23, 2024 11:07pm
Quoting emmanuel7788
Wednesday July 24, London 2am, Frankfurt 3am When you wake up to trade the next 4Hr candle at London 6am Pacific 10PM, you should be better prepared for your next +5R trades {image} ...

EG Jul24 London 5am now

- the battle between two PMIs today

- whichever has the better PMI data will not change the Market Type 2

- you need a minimum two consecutive candles to change this week' market type.


Attached Image (click to enlarge)
Click to Enlarge Name: EG Jul24 battle between PMI 24-7-2024 12-03-16 pm.png Size: 47 KB


- as it is now, I buy EG

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,462
  • Jul 24, 2024 4:56am Jul 24, 2024 4:56am
Quoting emmanuel7788
{quote} EG Jul24 London 5am now - the battle between two PMIs today - whichever has the better PMI data will not change the Market Type 2 - you need a minimum two consecutive candles to change this week' market type. {image} - as it is now, I buy EG ...
After PMI news isnt there an EG bounce 4 hr trade set up?
  • #147,463
  • Jul 24, 2024 12:27pm Jul 24, 2024 12:27pm
Quoting SnowManF
{quote} After PMI news isnt there an EG bounce 4 hr trade set up?

I did not see a price action bounce with the PMI data release

the TDI green crossed up and crossed down

Attached Image (click to enlarge)
Click to Enlarge Name: EG Jul24 PMI 4Hr 24-7-2024 7-16-36 pm.png Size: 48 KB

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,464
  • Jul 24, 2024 1:38pm Jul 24, 2024 1:38pm
Quoting emmanuel7788
{quote} I did not see a price action bounce with the PMI data release the TDI green crossed up and crossed down {image} ...
Hey does tms work on lower time frames like 15m 5m or even 1m?
  • #147,465
  • Jul 24, 2024 7:59pm Jul 24, 2024 7:59pm
Quoting adxking
{quote} Hey does tms work on lower time frames like 15m 5m or even 1m?

Trading Made Simple which is based on the 5-Method will work in all timeframes.

However, we do not see traders here make consistent profits in this thread trading lower timeframes which the OP consider as thrash timeframes.... post #119.


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,466
  • Jul 24, 2024 8:03pm Jul 24, 2024 8:03pm
Quoting mmo1991
{quote} can you give me more information about "Market Type 2" sir Thank you so much.

XAU is in Market Type 2 when New York closed on July 19 EST 5pm.

It requires two candles to determine the Market Type.

In this case, candles 1 and 2 will help us determine the Market Type changed from Trending to Sideways.

Pay attention to the candles OHLC.

Attached Image (click to enlarge)
Click to Enlarge Name: XAU Jul25 Weekly 25-7-2024 8-53-05 am.png Size: 20 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,467
  • Jul 24, 2024 8:12pm Jul 24, 2024 8:12pm
hmm thanks i like using the tms osc histo indicator for quick scalps on 5M TF but i guess ill stick to 1h/4h with tms
  • #147,468
  • Jul 24, 2024 8:30pm Jul 24, 2024 8:30pm
Quoting adxking
hmm thanks i like using the tms osc histo indicator for quick scalps on 5M TF but i guess ill stick to 1h/4h with tms
We can all scalp on the 5M but do that following the 4Hr like the OP did.

I love the M5 entries when I actively trading during the 4Hr trade window.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,469
  • Jul 24, 2024 8:32pm Jul 24, 2024 8:32pm
Quoting emmanuel7788
{quote} XAU is in Market Type 2 when New York closed on July 19 EST 5pm. It requires two candles to determine the Market Type. In this case, candles 1 and 2 will help us determine the Market Type changed from Trending to Sideways. Pay attention to the candles OHLC. {image}
XAU Jul 25

If you missed that 4Hr Bearish Engulfing Outside Bar BEEOB candle setup for HA#2 entry, we have to wait for LTF PA entries today.

We need to see a pause in the price action or a pull-back ...

Attached Image (click to enlarge)
Click to Enlarge Name: XAU Jul24 BEEOB H4 25-7-2024 9-26-28 am.png Size: 46 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,470
  • Jul 24, 2024 9:08pm Jul 24, 2024 9:08pm
Quoting emmanuel7788
{quote} XAU Jul 25 If you missed that 4Hr Bearish Engulfing Outside Bar BEEOB candle setup for HA#2 entry, we have to wait for LTF PA entries today. We need to see a pause in the price action or a pull-back ... {image} ..

XAU Jul25 M5 Tokyo 11am

- a pause in the M5 Master Candle is an opportunity

Attached Image (click to enlarge)
Click to Enlarge Name: XAU Jul25 M5 master Candle 25-7-2024 10-05-05 am.png Size: 37 KB


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,471
  • Jul 24, 2024 9:23pm Jul 24, 2024 9:23pm
25/07/2024 - XAU - D1.
XAU Daily seems to have a big move. I'm Looking for an Elgufing bar at price action and a slope in TDI. We no longer have good entries in D1 because of Risk/reward. But for a trend confirmation, it seems pretty clear.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
Click to Enlarge Name: screenshot.png Size: 26 KB
  • #147,472
  • Jul 25, 2024 12:44am Jul 25, 2024 12:44am
Quoting emmanuel7788
{quote} EG Jul24 London 5am now - the battle between two PMIs today - whichever has the better PMI data will not change the Market Type 2 - you need a minimum two consecutive candles to change this week' market type. {image} - as it is now, I buy EG ...

EG Jul25 H4

- IF you missed the POP Gun because of your sleeping hours ...

Attached Image (click to enlarge)
Click to Enlarge Name: EG Jul25 H4 POP Gun 25-7-2024 1-42-01 pm.png Size: 47 KB


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,473
  • Jul 25, 2024 1:10am Jul 25, 2024 1:10am
Quoting emmanuel7788
{quote} EG Jul25 H4 - IF you missed the POP Gun because of your sleeping hours ... {image} ...
Hey Emmanuel, I have a quick question. I'm relatively new to the TMS system, and I know you are quite experienced with it. I'm wondering how you exit trades. I'm quite good at exiting scalp trades but not long trades. I'm interested in what your exit strategy is.
  • #147,474
  • Jul 25, 2024 6:47am Jul 25, 2024 6:47am
Quoting adxking
{quote} Hey Emmanuel, I have a quick question. I'm relatively new to the TMS system, and I know you are quite experienced with it. I'm wondering how you exit trades. I'm quite good at exiting scalp trades but not long trades. I'm interested in what your exit strategy is.

For day trading, I like to use the ADR High-Low for targets.

Like today' EG H1

Attached Image (click to enlarge)
Click to Enlarge Name: EG Jul25 ADR target 25-7-2024 7-45-41 pm.png Size: 29 KB


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,475
  • Jul 25, 2024 11:31am Jul 25, 2024 11:31am
Quoting emmanuel7788
{quote} For day trading, I like to use the ADR High-Low for targets. Like today' EG H1 {image} ...
thanks veryintresting will be using for my next trade
  • #147,476
  • Jul 25, 2024 7:45pm Jul 25, 2024 7:45pm
It's Friday July 26 ...


This week's UJ 4Hr sell invalidation with that 5Bars Swing Low True REVERSAL

UJ Jul26 H4 Tokyo 9am

- what to trade ?
1) Price Action IB breakout
2) Price Action bounce with MOMENTUM
3) Price Action big candle MB breakout
4) None of the above


Attached Image (click to enlarge)
Click to Enlarge Name: UJ Jul26 H4 bounce or PA IB break 26-7-2024 8-41-25 am.png Size: 40 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,477
  • Jul 26, 2024 3:39am Jul 26, 2024 3:39am
Quoting emmanuel7788
It's Friday July 26 ... This week's UJ 4Hr sell invalidation with that 5Bars Swing Low True REVERSAL UJ Jul26 H4 Tokyo 9am - what to trade ? 1) Price Action IB breakout 2) Price Action bounce with MOMENTUM 3) Price Action big candle MB breakout 4) None of the above {image} ...

UJ Jul26 H4 London 9am

- the next 4Hr soon

Attached Image (click to enlarge)
Click to Enlarge Name: UJ Jul26 H4 London 9am 26-7-2024 4-35-25 pm.png Size: 45 KB



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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #147,478
  • Jul 26, 2024 3:46am Jul 26, 2024 3:46am
Opinions on how this bounce entry on EA looks like?
Because it was bought up very hard reached before levels of liquidity TDI over 82 looking for reversals maybe, but now i saw with my eyes when it above 82 it can still move 100 pips.
Price action looking juicy.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 64 KB
  • #147,479
  • Jul 26, 2024 3:49am Jul 26, 2024 3:49am
hello, I tried finding the heikin ashi indicator for trading view mentioned in this thread post but I am unable to find the exact indicator. can someone please post the link in this thread or PM me.
Thanks
  • #147,480
  • Jul 26, 2024 4:01am Jul 26, 2024 4:01am
Quoting SnowManF
Opinions on how this bounce entry on EA looks like? Because it was bought up very hard reached before levels of liquidity TDI over 82 looking for reversals maybe, but now i saw with my eyes when it above 82 it can still move 100 pips. Price action looking juicy. {image}

there is no bounce setup for sell at the moment

a bounce trade is only when there is an established trend and after a price pulled back for the bounce.

at the moment we are looking at a correction at the previous highs.

see my posts in NITS thread:

https://www.forexfactory.com/thread/...0#post14944020

https://www.forexfactory.com/thread/...2#post14944022

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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