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Attachments: TEB 5ema & 12ema and 21 RSI (MTF)
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TEB 5ema & 12ema and 21 RSI (MTF)

  • #601
  • Jun 7, 2010 9:43pm Jun 7, 2010 9:43pm
Quoting TEB63
eur/usd all day 12 trades. it was a hard day for sure

plus this evenning 4 Cad trades
2 trades in the bank for 42 pips
2 trades on, up 67 pips on the 2 trades at this time .

teb
that would be really helpful for us if you could post some screenshots of some the trades you take.
  • #602
  • Jun 7, 2010 10:23pm Jun 7, 2010 10:23pm
TEB- thanks mate.
This is such a brilliant and simple system. It is great to get the clutter out and have a fresh look at price action.
I am in SIM only for while and greatly appreciate the emails and the candle formation tips.
You are a champ.
Thanks
raycam
  • #603
  • Jun 7, 2010 10:57pm Jun 7, 2010 10:57pm
Teb

Thanks for the trend calls and the work on the second candle formation that you sent today.

In the email you mention:

"4. Here is the secret, go one time trade frame up and see what the trend is on that time frames."

So as I understand this, if we find the formation on the 5min chart we then go to the 15min chart to see that the RSI is in the same direction.

Is this correct?

Thanks Teb
  • #604
  • Jun 8, 2010 3:07am Jun 8, 2010 3:07am
Quoting TEB63
Just send out my trade calls ..

if you want to put be put on my trade calls email me at

teb
[email protected]


Date: for June 6 Trend Strength

Eur/Usd Bear 8
[size=3][font=Times New Roman]Eur/Jpy [color=red]Bear...
Hello TEB,

How do you determine pair strength (1 - 8)? Is there any indicator that can show it on chart?
  • #605
  • Jun 8, 2010 4:52am Jun 8, 2010 4:52am
Quoting TEB63
eur/usd all day 12 trades. it was a hard day for sure

plus this evenning 4 Cad trades
2 trades in the bank for 42 pips
2 trades on, up 67 pips on the 2 trades at this time .

teb
Were all these trades using your 5/12 RSI21 strategy? I ask because you mentioned before you have many different strategies.

Thanks
  • #606
  • Jun 8, 2010 5:15am Jun 8, 2010 5:15am
Quoting mbtjsmit
Teb

Thanks for the trend calls and the work on the second candle formation that you sent today.

In the email you mention:

"4. Here is the secret, go one time trade frame up and see what the trend is on that time frames."

So as I understand this, if we find the formation on the 5min chart we then go to the 15min chart to see that the RSI is in the same direction.

Is this correct?

Thanks Teb
I use the 15 min.
15 mim use the 60 min.
I love this candle formation an the 30 min and 60 min I use the 3 hour .
the 3 hour I use the day.

teb
  • #607
  • Jun 8, 2010 5:19am Jun 8, 2010 5:19am
Quoting mlambole
that would be really helpful for us if you could post some screenshots of some the trades you take.
sorry, I can not post oanda charts which is what I trade on.
if I get a chance I will take a few trades on mt4 to show,
but you know its better for you to go through your cherts and learn for yourself.

teb
  • #608
  • Edited 5:33am Jun 8, 2010 5:20am | Edited 5:33am
Quoting Slack
Were all these trades using your 5/12 RSI21 strategy? I ask because you mentioned before you have many different strategies.

Thanks
all the cads were
most of the euro were .

teb
[email protected]
  • #609
  • Jun 8, 2010 5:23am Jun 8, 2010 5:23am
Quoting Chocoball
Hello TEB,

How do you determine pair strength (1 - 8)? Is there any indicator that can show it on chart?
well I work it out using mostly the 3(4) hour, day and week charts.
its studing the charts.

charts

teb
[email protected]
  • #610
  • Jun 8, 2010 8:11am Jun 8, 2010 8:11am
Hi TEB
What is the rules: if the 5M is ready before the 30M. Do you enter as soon as the 30M is ready or wait for a retrace or new cross.

Thanks
Shanexx
  • #611
  • Jun 8, 2010 8:54am Jun 8, 2010 8:54am
Shanexx- from what I have picked up about the system, I believe you wait for confirmation on the 30 ( or whatever larger time frame you wish) and then as is often the case the 5minute ( or shorter time frame) has already turned some time back- but that is ok because you don't want to be entering on the shorter time frame without the backing of the big turn first.
Then I believe there is a matter of discretion . It involves waiting for the 5 min to RSI20 to retrace perhaps as far as the 50% line then turn back in your direction.
This probably means the price candles on the shorter time frame will come back against you somewhat providing a better entry. This is where you search for a "reversal candle formation as the icing on the cake to enter the market.

If I am wrong there I am really happy for someone to correct me.
Thanks
raycam
  • #612
  • Jun 8, 2010 12:36pm Jun 8, 2010 12:36pm
Quoting TEB63
sorry, I can not post oanda charts which is what I trade on.
if I get a chance I will take a few trades on mt4 to show,
but you know its better for you to go through your cherts and learn for yourself.

teb
I really don't see what's so challenging about posting an Oanda chart? It takes about 10 seconds in total. If you need any help just ask and I will send you step-by-step instructions.
Attached Image (click to enlarge)
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  • #613
  • Jun 8, 2010 1:10pm Jun 8, 2010 1:10pm
Teb my friend,

It would be very helpful for everyone , if you could post your entries on Eurusd today.

Where abouts did you take the 12 entries ?
  • #614
  • Jun 8, 2010 2:57pm Jun 8, 2010 2:57pm
Quoting Shanexx
Hi TEB
What is the rules: if the 5M is ready before the 30M. Do you enter as soon as the 30M is ready or wait for a retrace or new cross.

Thanks
Shanexx
no wait for the 5 min to reset after the 30 min gives you a trend
you are entering into a trend
its a higher % of wins.



teb
  • #615
  • Jun 8, 2010 2:59pm Jun 8, 2010 2:59pm
Quoting angus
I really don't see what's so challenging about posting an Oanda chart? It takes about 10 seconds in total. If you need any help just ask and I will send you step-by-step instructions.
sure please tell me
thanks

teb
  • #616
  • Jun 8, 2010 6:41pm Jun 8, 2010 6:41pm
Quoting TEB63
sure please tell me
thanks

teb
It's easier to do this with pictures:
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  • #617
  • Edited 10:12pm Jun 8, 2010 7:56pm | Edited 10:12pm
I sent this out in the Trend and Trade calls
if you want to be on that email list
email me at [email protected]

teb


Outside Candle (Engulfing Candle)
This pattern consists of two candles. 1st. Stranded candles. 2nd. Engulfing candle.
The 1st candle is a narrow range candle that closes down.
The sellers are still in control of the pair but because it is a narrow range candle,
and volatility is low, the sellers are not very aggressive.
The 2nd. Candle is a wider range candlestick that “engulfs” the body of the first candle,
and closes near the top of the range. The buyers have overwhelmed the sellers
(demand is greater than supply). Buyers have "taken over". The bulls are in control

When to take this trade (i.e. in an uptrend, in a down trend reverse everything here)
1. Take the trade as soon as the engulfing candle closes.
2. One pip over the top of the engulfing candle (Pink line)
3. Only trade if you are with the trend on the chart. Here we are using 20 RSI, RSI over 50.
a MACD, CCI, STOCH etc will all do as well.
4. Here is the secret, go one time trade frame up and see what the trend is on that time frames.
Check it on the RSI 20 (MACD etc) only trade if both time frames are inline.

Stop Loss
The bottom of the Engulfing candle. Is the Green line

Target
1st. Target (1st lot) Blue line.
you wing this target by measuring this target ... Line B (white) = Line A (red)
When you hit 1st. target move your stop loss up on the 2nd lot to break even +1 and spread
and let it run.


Best treading idea
reversal on the 5 min chart back to the main trend on the 30 min trend . .

Attached Image (click to enlarge)
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teb
  • #618
  • Jun 10, 2010 7:42pm Jun 10, 2010 7:42pm
Used M1 as trigger.

The first couple trades were right after a news release.

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  • #619
  • Jun 15, 2010 12:54pm Jun 15, 2010 12:54pm
  • #620
  • Jun 15, 2010 8:01pm Jun 15, 2010 8:01pm
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teb
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