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  • #10,241
  • Aug 18, 2011 4:14am Aug 18, 2011 4:14am
Quoting dean
It actually looks a pretty good trade to me....its bounced off a strong trendline too. Be nice if it can punch through 4450 and make it up close to the last swing high.....good 50-70 pips in that.
Actually I didn't like it thats why I said if it gets that far... PA is forming a head and shoulders on the 4H and there is divergence on MACD (I know, i know).

Anyway turning now, first thing this morning I favored the long now Im favoring the short but I'm not in either way at the moment, there needs to be momentum and it needs to punch out of this area between support and resistance.
  • #10,242
  • Aug 18, 2011 4:18am Aug 18, 2011 4:18am
Quoting dean
SO I imagine everyone is out of that EU trade...tdi has reversed along with PA.....I must be geting something drastically wrong.....it looked good to me.
I would love to hear the experienced guys here explain what went wrong with this.....for some reason I have a knack for jumping in on the strong candles that then proceed to reverse completely.
Oh and as for the TMS the signal candle was on a very small candle, I believe thats a no-no.
  • #10,243
  • Edited 4:21am Aug 18, 2011 4:18am | Edited 4:21am
Quoting dean
SO I imagine everyone is out of that EU trade...tdi has reversed along with PA.....I must be geting something drastically wrong.....it looked good to me.
I would love to hear the experienced guys here explain what went wrong with this.....for some reason I have a knack for jumping in on the strong candles that then proceed to reverse completely.
Dean its not your fault at all. London open is notorious for its head fake reversals. It seems to be even worse than usual during the last few weeks.

However once the head fake is out of the way that will normally set up a move closer to its atr. Have a look at some charts focusing on that. Anyway if this move up on eur was the head fake (later than normal though) there should be a decent sell trade.
  • #10,244
  • Aug 18, 2011 4:26am Aug 18, 2011 4:26am
Maybe this was the better trade than the UJ

It is however 4hr... sorry just realised..my mistake doh
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  • #10,245
  • Aug 18, 2011 4:29am Aug 18, 2011 4:29am
Check out the stochastic on the Daily Chart...
  • #10,246
  • Aug 18, 2011 4:54am Aug 18, 2011 4:54am
Hello,can you suggest me Where i can find info about PA and momentum, i know it should be somwhere in posts but its hard to find. Cause this thread is amazing and there are too many posts herethanks to all the guys here, i have learned a lot allready and still studying Fx and TMS
  • #10,247
  • Aug 18, 2011 5:36am Aug 18, 2011 5:36am
i shorted eu4388 that what h4 told me,no quit
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  • #10,248
  • Aug 18, 2011 5:47am Aug 18, 2011 5:47am
Quoting alkenany
i shorted eu4388 that what h4 told me,no quit
Just to be clear, you mean you shorted yesterday right and you are still in. Well its starting to move like it means it now.
  • #10,249
  • Aug 18, 2011 5:50am Aug 18, 2011 5:50am
Quoting alkenany
i shorted eu4388 that what h4 told me,no quit
breaking that uptrendline and 1hour candle close down of it confirm downtrend. 1st tgt4349 rest shown by pivotlines or the way of bigE
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  • #10,250
  • Aug 18, 2011 6:02am Aug 18, 2011 6:02am
Quoting alkenany
breaking that uptrendline and 1hour candle close down of it confirm downtrend. 1st tgt4349 rest shown by pivotlines or the way of bigE
Seems to be that on 4H the cross was yesterday so thats why I ask if you were in yesterday and still holding onto it.

Right now it would be too late to get into the 4H trade and actually the same goes for the 1H, it crossed too late and has now moved too much to take.

4360 is important now, if it doesn't hold then it could be a larger move down.
  • #10,251
  • Aug 18, 2011 6:10am Aug 18, 2011 6:10am
Quoting alkenany
breaking that uptrendline and 1hour candle close down of it confirm downtrend. 1st tgt4349 rest shown by pivotlines or the way of bigE
I dont mean to be rude but a couple of things about the assessment you have made...and not that I am one to judge but I know this:
a trendline really needs to be drawn from the low of the lowest swing low. I agree it has broken an uptrendline, but I dont think you have started the trendline back far enough....the further back it starts the stronger it is.
Secondly I dont know how you entered from the 4 hour chart signal. The tdi is dead flat. No angle whatsoever. Again....not to be critical, but I just cant see how you perceived this as a trade entry??
  • #10,252
  • Aug 18, 2011 6:39am Aug 18, 2011 6:39am
Seems to be that on 4H the cross was yesterday so thats why I ask if you were in yesterday and still holding onto it.

Right now it would be too late to get into the 4H trade and actually the same goes for the 1H, it crossed too late and has now moved too much to take.

4360 is important now, if it doesn't hold then it could be a larger move down.



Quoting dean
I dont mean to be rude but a couple of things about the assessment you have made...and not that I am one to judge but I know this:
a trendline really needs to be drawn from the low of the lowest swing low. I agree it has broken an uptrendline, but I dont think you have started the trendline back far enough....the further back it starts the stronger it is.
Secondly I dont know how you entered from the 4 hour chart signal. The tdi is dead flat. No angle whatsoever. Again....not to be critical, but I just cant see how you perceived this as a trade...

TDI cross with good angle+ stoc (the chart)
dean:i draw trendline according to TOM DEMARK method shown on chart by blue circle
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  • #10,253
  • Aug 18, 2011 6:41am Aug 18, 2011 6:41am
Quoting mannai70
does anyone trade the 4hr charts exclusively. If you do, do you ever leave your trades running longer than the 3 or 4 bars that Big E does. I mean do you ever leave them running say until the TDI crosses over or goes flat etc, this could be many bars later, sometimes even 10 or 12.
Yes, I do. Read my 9306 post.
Swamper
  • #10,254
  • Aug 18, 2011 6:49am Aug 18, 2011 6:49am
Quoting alkenany
Seems to be that on 4H the cross was yesterday so thats why I ask if you were in yesterday and still holding onto it.

Right now it would be too late to get into the 4H trade and actually the same goes for the 1H, it crossed too late and has now moved too much to take.

4360 is important now, if it doesn't hold then it could be a larger move down.






TDI cross with good angle+ stoc (the chart)
dean:i draw trendline according to TOM DEMARK method shown on chart by blue circle
Tdi angle not great, you have your chart zoomed in one too many....As BigE says...zoom all the way in and then out twice.....andle is flat. See chart. ANd see trendline.
Dont get me wrong...it could be a good trade but an important entry factor is tdi angle and this is not good... it may be on the next candle. So as far as trading as per this method its not really a trade.....yet
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  • #10,255
  • Aug 18, 2011 7:03am Aug 18, 2011 7:03am
Quoting alkenany
hi dean
what did bigE said that we should enter on first or second candle, does that mean first candle closed red regardless EMA5 or the first one after crossing EMA, just want to make sure, thanks
I just wanted to "wade in" here to post what I have from Big E comments on a prior thread, as to his entry criteria that I use in these volatile times. I also use these criteria if the first or second candle is not the size and shape to my liking. I quote from the pdf document:

--Compiled by Otiose
I'm going to post here the 2 templates I personally use to trade:
1. 5 Method --- (Most simple strategy but works great)
Use Heiken Ashi candles
TDI Indicator set at default
Stochastics set to 8,3,3
5 ema, Shift set to 2 or 3, Typical
When PA crosses 5 ema and closes... that is the set up candle. The entry is on the 2nd candle if it's the same color. Works on all timeframes.
I use 5 pip SL on the 5 minute chart. Works great short & long. If the trade looks a little shakey I might set a S/L between 20-40 pips on the 1 or 4 hour charts.
....The candle body must cross the ema and close to be a set up candle. When the next candle opens and is the same color... enter the trade.....When the next candle appears after the set up candle it's either red or green.
If it's the same color as the set up candle... I'm usually in the trade.
Bear in mind that if the candles are small I wait to enter until candle #3 or pass on the trade. Double check tdi & stochs with your cross hair on the chart.

And finally, from the document:

1st candle to cross the 5 ema and close is the set up candle... if 2nd candle opens the same color it's the entry candle... check your tdi also.
This is the safest method...
If I have an earlier entry it's due to my experience using the 5 method and tdi readings... As you gain experience you may enter a little earlier too on some trades..

I hope this does help others trade BigE's method with success. As always, adjust your trading style to suit you. Conservative style may be way to go until you gain confidence in your ability.

Hope this helps
Leona
  • #10,256
  • Aug 18, 2011 7:10am Aug 18, 2011 7:10am
Quoting leonaforex
I just wanted to "wade in" here to post what I have from Big E comments on a prior thread, as to his entry criteria that I use in these volatile times. I also use these criteria if the first or second candle is not the size and shape to my liking. I quote from the pdf document:

--Compiled by Otiose
I'm going to post here the 2 templates I personally use to trade:
[font=Comic Sans MS][color=blue]1. 5 Method --- (Most simple strategy...
yes leonaforex, that what i thought. thnx for bringing that back
  • #10,257
  • Aug 18, 2011 7:14am Aug 18, 2011 7:14am
Quoting leonaforex
I just wanted to "wade in" here to post what I have from Big E comments on a prior thread, as to his entry criteria that I use in these volatile times. I also use these criteria if the first or second candle is not the size and shape to my liking. I quote from the pdf document:

--Compiled by Otiose
I'm going to post here the 2 templates I personally use to trade:
[font=Comic Sans MS][color=blue]1. 5 Method --- (Most simple strategy...
This is incorrect and has been updated, hence BigE starting this thread. PM him yourself if you are unsure but as you have stated that document is old and has been updated so dont confuse newcomers to this method. BigE has written it many times in this thread...1. first or second candle only for entry 2. he no longer pays any attention to the ema and 3. the stop losses mentioned in that document are not relevant to this method either....last swing hi or low
  • #10,258
  • Aug 18, 2011 7:15am Aug 18, 2011 7:15am
Quoting dean
This is incorrect and has been updated, hence BigE starting this thread. PM him yourself if you are unsure but as you have stated that document is old and has been updated so dont confuse newcomers to this method. BigE has written it many times in this thread...1. first or second candle only for entry 2. he no longer pays any attention to the ema and 3. the stop losses mentioned in that document are not relevant to this method either....last swing hi or low
I agree with Dean. These are two different methods. The 5 Method is the 5 Method and TMS is TMS. Don't get them mixed up.
  • #10,259
  • Aug 18, 2011 7:18am Aug 18, 2011 7:18am
Quoting dean
Tdi angle not great, you have your chart zoomed in one too many....As BigE says...zoom all the way in and then out twice.....andle is flat. See chart. ANd see trendline.
Dont get me wrong...it could be a good trade but an important entry factor is tdi angle and this is not good... it may be on the next candle. So as far as trading as per this method its not really a trade.....yet
dean
acocording to DM trendline it will be from LL to previous LL, i think u missing the previous LL, anyway i used the TD indicator to draw it , it gave the same result(chart).
as to TDI i still have differant angle than yours i do not why, hope someone show tdi on his H4 chart
anyway news after 13 min may change everything thanx for u all
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  • #10,260
  • Aug 18, 2011 7:28am Aug 18, 2011 7:28am
Quoting milicentfx
one more thing...before Big e started this thread, he had another called craig harris stochastics method. you can search for it at the top of this page. At around page 208, he switched to the methos that we use now, wit 4 and 1 hr charts.

the reason that I am telling you this is in that thread he posted A LOT of examples. It may help someone to look at that thread and see his examples

Cheers
Thank you Milicentfx - going through his examples really helped me a lot.
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