Indian Guru Trading Majors

This might look like a very good setup to go short

but it is not

since 4 hour does not agree

a good setup is when 1 hour and 4 hour both agree on direction,

that

gives a credible strength to the trend

second

AVOID trading when the spread increases above normal, every indicator fails in high spreads.

This is the reason I use the tail indicator on 1 min or 5 min mostly

FOMC was a fake out, a 15 min chart will show you why

If you learn to use the tail indicator correctly, you will also learn to avoid fake out's completely.

I managed to collect all of the spike because i was trading on the 1 min charts.

I can use them to trade frog legs also, because they move.

I rate you commentry mate
Well done

Thursday:

Just got my new day open price @ 10 PM GMT


Now,

if price remains above 1.63410, there is no reason to short.

trade safe.

but since i never go against both 1 hour and day open price

i am sitting on the fence today

just woke up

n wow the markets really moved, as usual salaamnamaste gave the move well in advance,

sad, i did not trust it, and remained on the fence

So finally G/U did it... But only after screwing few Butts.

Since monday I was wanted to sell it. and It stalled exactly from 1.6467 very near weekly M3. level. as I have posted in my charts earlier. as 'probable sell Areas'.

what Irritating is that I didn't had enough confidence to sell from there.. I couldn't even do that when I saw it passing below pivots. Just because the kind of two candle we had earlier. the bear setup on daily chart was spoiled.

well Instead I had my pendings below tuesday Low and managed to short from 1.6310 ( below tuesday Low) just to be safe. and it also paid me. But as I had my fear earlier.... I did missed a big chunk of pips.

so I'm Happy and Sad Both..


what I see now is that we should be able to see 1.6008/ or maybe 1.5932 (weekly m1/s2) nearby area. easily.. this week. we still have two more days remaining. Or 1.5750. If we talk in monthly prospective.

I know this thread is all about scalping..taking small profits and loosing smalls. and Its a very Good idea. taking action on smaller timeframes pays when u have one of the major charts conforming. It accelerates your account.

what I have came along is that when you allow few trades running on major timeframes (daily/weekly) . Just 1 of them will manage all the small Losses you made on smaller Timeframes while scalping.. and its no-argument that Larger timeframes pays off.

Lions's Indicators are a great way to scalpe.. It could be used in several ways. I'm fond of that day_exp . I just go for 10 pips in between those two levels. when its done..I'll place another pending orders for 10 pips both short/Long.. in another levels.this way 60-70 pips is done very easily for the day. If u want more.. u can have more. depend son you. normally when 1Hr candle is making Bulls.. avoid placing short orders . But then placing a pending sell order below that 1 hr candle will pay off most time.. But then make sure what kind of setup we have in 4Hr or daily.

1 small note... If anyone have been Looking Eur/Usd on daily basis. from last two month. I have been Buying every 60 pips dips it makes. (stops:50-80 pips) and is going fine... made about numerous trades such a way. with an win/loss ratio about 15:1. however I shuld say that I didn't bought all the 60-70 pips dips. we can wait for a 1Hr high break If price is retracing. because standing bellow a falling knife is not a very Good Idea.not everyTime.
But I enjoyed doing it and Hope this continues....hahhaha.

So it pays to have a look at monthly charts and design a strategy for taking benifits from there. It doesn't have to be very Good.. even a simple will do well.

lets keep Looking at those G's. because there is lot more to come..



theGambler_isHere:
If you think you Can- You Can!!..... If you think You Can't-You're Right!!!

Lions's Indicators are a great way to scalpe.. It could be used in several ways. I'm fond of that day_exp . I just go for 10 pips in between those two levels. when its done..I'll place another pending orders for 10 pips both short/Long.. in another levels.this way 60-70 pips is done very easily for the day. If u want more.. u can have more. depend son you. normally when 1Hr candle is making Bulls.. avoid placing short orders . But then placing a pending sell order below that 1 hr candle will pay off most time.. But then make sure what kind of setup we have in 4Hr or daily.

1 small note... If anyone have been Looking Eur/Usd on daily basis. from last two month. I have been Buying every 60 pips dips it makes. (stops:50-80 pips) and is going fine... made about numerous trades such a way. with an win/loss ratio about 15:1. however I shuld say that I didn't bought all the 60-70 pips dips. we can wait for a 1Hr high break If price is retracing. because standing bellow a falling knife is not a very Good Idea.not everyTime.
But I enjoyed doing it and Hope this continues....hahhaha.

So it pays to have a look at monthly charts and design a strategy for taking benifits from there. It doesn't have to be very Good.. even a simple will do well.

lets keep Looking at those G's. because there is lot more to come..



theGambler_isHere:
If you think you Can- You Can!!..... If you think You Can't-You're Right!!! [/quote]
Hi Gambler, sorry iam new to fx trading can u elaborate on the analysis of placing buystop and sellstop on 1h chart?

Hello Anika.

Welcome to the most wonderful financial space. If you are new then it's the best time to start Learning.

This world will test you, your courage, your patientce ,your willingness and the degree of persistance you have. But don't forget it offers excellent reward. start reading some Good reading Books.I shuld say get yourself familiar with multiple-timeframe and how to intercept it.

If every monday you look at the weekly chart..you shuld get an dea how the week will be. calculate its possible range.

If every morning you have a Look at daily charts..you shuld get an idea how the day will be. Again calculate its possibel range.

same goes with every 4Hr and every 1-Hr till 1 min..Lol

Ok I have placed some charts below.. lets take a look whats going On.Starting with weekly we see that price opened above its weekly pivot . Its high was made at m4. and now the low is at m1 evel.price trying to find a support there.. the previous candles are making Higher Lows. Adx( or any other trend indicator you use..tells you that we are in uptrend). Adx is showing a very strong trend.( adx line above 40). Lovely trend Going on.

Now daily:
the upward momentum has ceased.. and it has been doing this since last 3 days. today price opened below pivot. +d1 line is slanting down.. Bears will be active till this keeps slanting down.. But currently price above 20 ema. Ideal place , or I shuld say risk free place....for Buys shuld be above this daily high.. for conservative style.

An Interesting thing to note is that Lot of times when weekly Adx strength is above 20. the retace will generaly stop on 20 Ema. daily .If it goes below you can assume that the trend really changed.. its no more retracing. same applies with daily/4Hr .


Now 4Hr..

4Hr has been quite down... I would love to buy once its high is break. since I'm having enough faith on weekly charts. But Looking at its setup. seems Lot of bears are active. so It will be a risky trade.. I will do two thing. 1.place my stops below this current candle. 2.trail it, try to place it at BE as soon as possible.

what I'm interested in Today m3 point which is 1.4734. If we trade above this we can assumne that our uptrend has resumed and gaining momentum. If we drop frm here...It will conform that the bearish Bias is still Intact. Bias and Trend these are two different things. a trend could be up. but the Bias could be down. as happening with E/U.

In a bearish Bias.. generally high of the candle will be made at m3-point. and low somewhere at m1. anyway thats a different thing.

4-Hr

as per charts below I have put lines where to Buy at. Looking at Adx we see that we are down here. -d1 above +d1. (we even have some degree of strength too. Lol).
Now note that the -d1 (red lines) has turned flat. bears paused at that point. what time ? when the dominant trend waas up.. as per daily/weekly. so what shuld happen now. Once the Bulls get hint that bears are running out they will come forward. when the green line (+d1-line) which is flat now starts pointing up... means Bulls have came forward. and when they cross each other.. you will have a conform entry..

so you have two options.. wait for this adx cross to happen.(for a more reliable entry) or place a pending long above this 4Hr candle with a stop below and leave it. once long.. try adjusting stops based on 1hr charts. or below every new 4hr candle. A stop below s2- of 1Hr could be a very Good option too.

Since I like to gamble..I'll be doing the Later. I won't care taking loss. and when I have my conform entry..i.e. price around R1 today. or a valid long signal from Adx in 4hr chart..I'll Buy more.


1Hr

No doubt downtrend going on. we have aa nice gap between 20 and 50 ema. Bull power and bear power are both negative. Ideally we shuld wait for bull/bear power for both to turn above 0.

So this is how I planned for today. I have my longs there(above 4hr) and I shuld say that its Risky setup. But once the signal are fresh from 1/4 hr.. I will Buy more. under normal conditions I wouldn't have bought it just Like this.. but as I said weekly charts setup is very promising.

there is another wild kind of Trading ,simply place a Buy Limit below 60-70 pips from last high made... Lol.
Ok but make sure to look at 15mins/1hr charts if u do this.. Obviously you will find sign of downtrend on them once price makes a dip. make sure that that downward momentum is not showing strength. Adx will tell you that.concentrate on the gaps inbetween two moving averages.they shuld not to be wide If u find traces of strength... deleate you pending Buys(in case if its not hit yet) and wait for propersetup on 1/4hr or buy once high is broked.


Let me know If you want to ask me or tell me anything. I won't be available for next 4-5 days. But I will try to reply once back.



Regards.

theGambler_isHere:
If you think you Can- You Can!!..... If you think You Can't-You're Right!!!

thanks Gambler for all the info.
will read thru and analyse over the weekend and try it next week.
have a great weekend

Don't ask me to share the AutoTarget EA because it was designed for a special purpose.

But the overall trend here is to achieve the monthly fib level on the least and / or 50% of yesterday's day candle.

hi gambler that a nice info but i still see 143 abnd may be 142 in progress.i have bad connections internet masacre so am still online

That bounce gives me hope that we are still going up to 1.61, are you on the same path?

yeah the autotrade closed those in green and reopened lower on the 1 min tail swing

and i have those trades on demo to test the EA, never on a live account as yet

This EA sounds very interesting, have fun with it.

Since it is Friday and markets have swing up and down are you more bias for consolidation towards the closing or a big move happening?

Nope. Don't think it's going to go up at all, for a long time.
Could very well go all the way to 1.67, or around there...

Oops, I meant 1.467

entirely depends on 1 min tail

because its the 1 min charts which are the actual price action

rest is just time pass

hi forexlion
i put ur indicator salam namaste2 on chart but it didnt show any values