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Long Term Pips

  • #221
  • Feb 8, 2011 6:11pm Feb 8, 2011 6:11pm
Hi,

how about this chart? I know the two lines in the weekly are also pretty close?

Would it be worth enter below the low of 1.5755?

Greetings

Raul Ramirez
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbd aud daily.gif Size: 18 KB
Click to Enlarge Name: gbd aud weekly.gif Size: 15 KB
  • #222
  • Edited 7:23pm Feb 8, 2011 6:23pm | Edited 7:23pm
Quoting Raul Ramirez
Hi,

how about this chart? I know the two lines in the weekly are also pretty close?

Would it be worth enter below the low of 1.5755?

Greetings

Raul Ramirez
That looks like a good entry plan Raul. If it breaks that support you have an easy 600 pips till you have to consider doing anything. The weekly also has a couple bearish candles to support your decision. I will probably keep my eye on this one also. a couple of the AUD pairs bear watching this week also if they can break their respective s/r areas they are in. Pull up your charts and you'll see what I'm talking about
Always Learning
  • #223
  • Feb 9, 2011 6:45am Feb 9, 2011 6:45am
Quoting Raul Ramirez
Hi,

how about this chart? I know the two lines in the weekly are also pretty close?

Would it be worth enter below the low of 1.5755?

Greetings

Raul Ramirez

My weekly shows longer wicks down on the bear candles and at the moment my MAs are flat together. So not a forthcoming trade for me. At a guess Brenzaj's last entry on GBPAUD would have been during the week 5 September 2010 where weekly had widened and the recent crossover on daily also widened...I think looking for widenings of MAs is key or otherwise there could be lots of whipsaws. We also need to see AUD break upwards on a number (like USD and JPY to get confidence in its strength...a bit uncertain right now...
  • #224
  • Feb 10, 2011 10:35am Feb 10, 2011 10:35am
How about entering the Aud / Jpy probably really soon? (only still 10 Pips untill the Resistance)

If its broken, should I enter, because we aren't in the main session anymore.

And how many pips above the Resistance would you suggest for a decent enter?

Thank you for any support
  • #225
  • Feb 10, 2011 3:39pm Feb 10, 2011 3:39pm
Quoting Raul Ramirez
How about entering the Aud / Jpy probably really soon? (only still 10 Pips untill the Resistance)

If its broken, should I enter, because we aren't in the main session anymore.

And how many pips above the Resistance would you suggest for a decent enter?

Thank you for any support
Hi Raul !

Yes, I've been watching AUDJPY and looks like some good potential there, but I think really need to see a good break before entry and yes in the main session ideally. I can't trade tommorrow so I might get in next week if it does beak...remember Brenzaj stated that he was very patient and oiften waited a few days to see the trend develop...we were quite enthusiatic with AUDUSD, lol - I got stopped out today. I think taking this strategy is going to be more of a game of patience, but once we've got a few under our belt, it should hopefully prove a nice little pip earner !

Doug
  • #226
  • Feb 12, 2011 11:04am Feb 12, 2011 11:04am
I have not been around for while for specific reasons. I just wanted to stop by to check things out. I noticed that some people were having problems with entries. I having been working on ways to get better entries with less risk. I have come up with a method where I can only risk 20-30 pips but I need to be around the computer a little bit more. I just wanted to share this. On a 15min chart only, I added 3 simple moving averages 50 , 100, and 200. They have to be in order to trade long or short. I then wait for a pullback as indicated by an indicator I found on this forum. Again, not a big fan of indicators but this helps identify good entries. For anyone trying to trade my method, everything is the same but this will help with reducing risk. I am looking to get great entries where my R:R is now 1:10 or even 1:20. Good stuff. After I get up about 30-40 pips, I move my stop to breakeven and enjoy the ride just like before. Again, everything else is the same but I am trying to reduce risk. Pretty simple. I hope this helps.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: better entry 1.png Size: 36 KB
  • #227
  • Feb 12, 2011 11:50am Feb 12, 2011 11:50am
Hi Brenzaj ! Great to see you back on the thread, thanks for stopping by....!

You're right we do need help on entries, although unsure I'll have the confidence for a 30pip SL on a long term trade...wow!...

Hope you can stay around and guide us on some other entries. I'm currently monitoiring AUDJPY, CADJPY, AUDNZD, AUDCHF and possibly GBPJPY...

Thanks Brenzaj for your input ,

Doug
  • #228
  • Feb 12, 2011 12:08pm Feb 12, 2011 12:08pm
I would like to stick around. Don't get me wrong, I like helping people out but there are several people here that think I have ulterior motives and it annoys me. I just don't need the aggravation. If you check for fresh crosses on the daily and then check the 15 min intraday with what I showed, you should have no problem getting in. There will be some stop out breakevens but just continue to check the 15 everyday to enter and the pips should fly in.

The first thing I learned about trading the forex market:
You only need 2 things to trade it successfully.
1. Know the direction of the trend
2. Find an entry.

It doesn't get easier than that.
  • #229
  • Feb 12, 2011 12:10pm Feb 12, 2011 12:10pm
Quoting brenzaj42
I have not been around for while for specific reasons. I just wanted to stop by to check things out. I noticed that some people were having problems with entries. I having been working on ways to get better entries with less risk. I have come up with a method where I can only risk 20-30 pips but I need to be around the computer a little bit more. I just wanted to share this. On a 15min chart only, I added 3 simple moving averages 50 , 100, and 200. They have to be in order to trade long or short. I then wait for a pullback as indicated...
Great to hear from you. In regards to this enhancement to your entries, i have a few questions i hope you don't mind answering:
1- When you said that the MAs have to be in order, what exactly do you mean?
2- What indicator are you referring to? I assume is the arrow, but what is the name of it?
3- Do you enter the trade when the indicator shows up?? or how do you time your entry?

Thanks, and welcome back

Regards
JLC
  • #230
  • Feb 12, 2011 12:22pm Feb 12, 2011 12:22pm
1. For longs, the 50 has to be above 100, the 100 has to be above 200 on the 15 min chart. It just has to look "clean". The long term trend will take care of the rest.

2.The arrow is not the indicator. I put that there to show entry. On my charts, it is the colors blue and red. It is called a ttm trend indicator. That is really not that important, that is just to visually show you pullbacks. You could probably use HA bars if you wanted too. Again, It just shows pullbacks, nothing fancy.

3. I just enter when is changes color. There is probably 100 different indicators a person could use. You really don't even need to use one. A person could probably just use price action around the moving averages.



Quoting Analda3
Great to hear from you. In regards to this enhancement to your entries, i have a few questions i hope you don't mind answering:
1- When you said that the MAs have to be in order, what exactly do you mean?
2- What indicator are you referring to? I assume is the arrow, but what is the name of it?
3- Do you enter the trade when the indicator shows up?? or how do you time your entry?

Thanks, and welcome back

Regards
JLC
  • #231
  • Feb 12, 2011 12:45pm Feb 12, 2011 12:45pm
Quoting brenzaj42
1. For longs, the 50 has to be above 100, the 100 has to be above 200 on the 15 min chart. It just has to look "clean". The long term trend will take care of the rest.

2.The arrow is not the indicator. I put that there to show entry. On my charts, it is the colors blue and red. It is called a ttm trend indicator. That is really not that important, that is just to visually show you pullbacks. You could probably use HA bars if you wanted too. Again, It just shows pullbacks, nothing fancy.

3. I just enter when is changes color. There is probably...
Thanks a million.
  • #232
  • Feb 12, 2011 12:48pm Feb 12, 2011 12:48pm
Just to clarify my previous post. The most important part is the 3 moving averages. These will show you if it is trending that session. As everyone knows, in a long term trend, there are going to be plenty of days where price goes against you or even sideways. This setup will show you it is trending that day. I just like to get the best possible price, that is why I started looking for pullbacks.
  • #233
  • Feb 12, 2011 1:08pm Feb 12, 2011 1:08pm
I just wanted to show another example. This is an example of a fresh cross on the CAD/JPY daily although it is up against resistance and the weekly is not strong. I rode it up to the daily resistance and took some off the table on friday. I am leaving half my lots open in hopes that it will break through. The CAD is strong at the moment but the JPY has been mixed. Time will tell but it was easy short term pips.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: entry 4.png Size: 35 KB
  • #234
  • Feb 12, 2011 2:07pm Feb 12, 2011 2:07pm
If anyone wants more examples, let me know. But to me, this couldn't be any more simpler. You identify the trend every night and then look for an entry in the main session with what I described. I know this doesn't have a bunch of bells and whistles but I like to keep it simple. Plus, anybody can look through past charts to see this. Also, as I stated earlier, trading these pullbacks will give you an incredible risk reward ratio. A person could literally only win 20% of the time and make money although through proper trend identification, this will be a great deal higher.

Well, I am just ranting today while laying around watching golf. If anybody is around now, I will be here for a little bit.
  • #235
  • Feb 12, 2011 4:58pm Feb 12, 2011 4:58pm
Wow, Brenzaj ... it is great to see you back !!! Great posts ... as always !!! I hope you will stay with us now !!! :-)


Quoting brenzaj42
If anyone wants more examples, let me know. But to me, this couldn't be any more simpler. You identify the trend every night and then look for an entry in the main session with what I described. I know this doesn't have a bunch of bells and whistles but I like to keep it simple. Plus, anybody can look through past charts to see this. Also, as I stated earlier, trading these pullbacks will give you an incredible risk reward ratio. A person could literally only win 20% of the time and make money although through proper trend identification, this will...
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #236
  • Feb 12, 2011 7:03pm Feb 12, 2011 7:03pm
Quoting brenzaj42
If anyone wants more examples, let me know. But to me, this couldn't be any more simpler. You identify the trend every night and then look for an entry in the main session with what I described. I know this doesn't have a bunch of bells and whistles but I like to keep it simple. Plus, anybody can look through past charts to see this. Also, as I stated earlier, trading these pullbacks will give you an incredible risk reward ratio. A person could literally only win 20% of the time and make money although through proper trend identification, this will...
Absolutely fantasic Brenzaj - has really made it clear to me that 15m entry system, brilliance is simplicity ! Thanks !
  • #237
  • Feb 13, 2011 8:08am Feb 13, 2011 8:08am
Brenzaj,

Do you confirm these 15 min TF entries with the P&I analysis ?

Trzcinek
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #238
  • Edited 9:29am Feb 13, 2011 9:28am | Edited 9:29am
Quoting brenzaj42
I just wanted to show another example. This is an example of a fresh cross on the CAD/JPY daily although it is up against resistance and the weekly is not strong. I rode it up to the daily resistance and took some off the table on friday. I am leaving half my lots open in hopes that it will break through. The CAD is strong at the moment but the JPY has been mixed. Time will tell but it was easy short term pips.
Hi brenaj

what are mas on the daily chart? 5 & 12? Sorry if you have mentioned it somewhere
If you think you can or cannot do it you are correct
  • #239
  • Feb 13, 2011 9:56am Feb 13, 2011 9:56am
Quoting Olu
Hi brenaj

what are mas on the daily chart? 5 & 12? Sorry if you have mentioned it somewhere
I suggest you read a summary document in the attachments page of this thread. In there you will find all details of his method.
Regards
  • #240
  • Feb 13, 2011 12:44pm Feb 13, 2011 12:44pm
Yes and No, I have already done the homework(p&i) the night before. Now I am following up in the main session to see if it is going my way(3 moving averages) and looking for a pullback to trade.





Quoting trzcinek
Brenzaj,

Do you confirm these 15 min TF entries with the P&I analysis ?

Trzcinek
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