Week 35, Aug 26 to 31 First task of the TMS trader is to follow the OP' posts in his old thread.... post #11 Know the economic calendar and events when you prepare your trad plans for the new week. {image} ...
{quote} When you prepare your trade plans, know the Market Type conditions - as usual, do my Weekly Top Down Analysis WTDA. Check all your trading pairs in your watchlist, I start with the Weekly charts and see how the Weekly closed on New York Friday 5PM close. USD Majors - big Weekly candles closed - IF you buy next week, your worst case cut-loss is the previous 2-weeks low - IF you sell next week, you worst case cut-loss is the previous 2-weeks high - This way, you drawdown is never more than two weeks. {image} ...
{quote} Hi Emmanuel, For Week 35, below trading pairs are in my watchlist. EURUSD - Continue trending up till next Weekly Swing High. Price and HA above 5EMA GBPUSD - Crossed above the recent Weekly Swing High. Price and HA above 5EMA EURAUD - Crossed below the WCC. Price and HA below 5EMA. EURNZD - Crossed below the WCC. Price and HA below 5EMA. GBPCAD - Crossed above the WCC and recently Weekly Swing High or Previous Month High. Price and HA below 5EMA. Is my thought process correct? Thank you. WJ
{quote} Anyone can explain this? I thought we have to wait for 1st and 2nd to form ( close ) to enter the trade? Which will be begining of 2nd candle or begining of 3rd candle ?
{quote} ///The question that left me wondering was whether my exit was good or bad. Right after I exited the trade, because a Powell press conference was about to happen, the market continued in the direction I was positioned. Did I do the right thing by exiting? Or did I leave money on the table? considering that my entries were aligned with the macro trend? In the USDCAD trade, I exited because of a support at the weekly low. As for the buy trade, I exited because I had drawn a Fibonacci retracement and saw a potential exit at the 61.8 level,...
{quote} Anyone can explain this? I thought we have to wait for 1st and 2nd to form ( close ) to enter the trade? Which will be begining of 2nd candle or begining of 3rd candle ?
{quote} Here is today' example : EU 4Hr London 10am Pacific 2AM - the HA candle closed red and it is above the 5EMA ... therefor this is not a setup candle, ... - the Stoch(8,3,3) %K crossed %D signal, there is a swing high ... fractal! - therefore this is not candle#1 see post #147,809 above https://www.forexfactory.com/thread/...4#post14975814 > a TMS basic setup must fulfil all ost...
{quote} EU Aug26 4Hr Pacific 5am UPDATE: - compare the chart above and this U{PDATE below, - Once you fully understand these two charts, then you will most likely will succeed with this 5-Method. {image} ... {image}
Sree1, I'd say pick the charts you like to trade and understand their movements... breathing patterns... I always like to have the E/U, G/U and A/U side by side on top plus one more chart. Those three charts tend to move together in the same direction. So if I see a set up on one I usually find a set up on one or both on the other pairs. I've made a lot of pips trading all three at the same time. I usually include 2-3 Japaneese charts... a Usd/Cad chart. Always end up with 8 charts on one page. Dean trades these on top...e/u, g/u e/j, a/u left to...
I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again. I'll report the results in a week or so...I'll only enter if the candles are medium length or larger... wish me luck ...
is the indicator indicated available in tradingview? i want to start to learn this anyone can recommend me thank you ! im seeing a lot of tdi indicators in tradingview
