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Trading Made Simple

  • #10,461
  • Aug 23, 2011 5:38am Aug 23, 2011 5:38am
Quoting brettboz
There is a natural resistance at 4500 yes (there always is at round numbers), but zoom yours out and put the trend line in. Also break resistance is not just spiking it. It needs to break it and hold above it. This trend line has been spiked 4 times now. It is still active and is holding price here for the moment.
Yep I am aware what a break in a trendline is. Care to show me what trendline you are looking at. Pic of your chart.
  • #10,462
  • Aug 23, 2011 5:39am Aug 23, 2011 5:39am
Quoting brettboz
There is a natural resistance at 4500 yes (there always is at round numbers), but zoom yours out and put the trend line in. Also break resistance is not just spiking it. It needs to break it and hold above it. This trend line has been spiked 4 times now. It is still active and is holding price here for the moment.
Also keep in mind resistance / support is an area around a price which price is reacting to. It need not be spot on. For example there is trend line resistance at 4485 and natural round number resistance at 4500. This whole area is being watched at present just waiting to see what happens.

If it starts to move south many (me too probably) will dump EUR/USD as we know its confirmation of the rejection of the move above resistance.

If it is broken stops and options will be triggered and some will get on the break of the TL (there are many system traders using this approach). It may then continue up to next resistance or eventually loose momentum until it comes back to some sort of support (probably the TL / 4500 area).

Look at most swing indicators here on the 1H (stock and TDI included) and they are looking like they want to turn over.
  • #10,463
  • Aug 23, 2011 5:41am Aug 23, 2011 5:41am
Quoting Martinius
Potential NZD/USD short trade on the 1H in the making. Anyone else looking at this?
The horizontal line are some potential supports made with both previous S&R and Fibos. Let's see how it evolves.
I am short at 0.8326, been watching this pair since 9.30am. 1H also
  • #10,464
  • Aug 23, 2011 5:56am Aug 23, 2011 5:56am
Quoting dean
Yep I am aware what a break in a trendline is. Care to show me what trendline you are looking at. Pic of your chart.
OK, I use a much more complete chart than the one I have posted here, but for simplicity sake I have removed everything other than 2 trend lines and a horizontal line. I have also marked where price has tested these levels. Note this is not TMS MA candles, this is standard price candles with no other indicator other than the 3 lines I have drawn on it.

Look where we are now, we have gone above 4420 which will now act as support but we have the pesky trend line 4500 area.

Interestingly I have noticed that is rare for a trend line to hold more than 3 attempts to break it.
Attached Image (click to enlarge)
Click to Enlarge Name: graph.jpg Size: 110 KB
  • #10,465
  • Aug 23, 2011 6:06am Aug 23, 2011 6:06am
doubtful. have 4 shorts scalps on another system rolling worth 50 pips or so.

was about to close them as EU stalled at camarilla h4. but then i saw the 1h signals on this system... really doubtful.

i will hang on to them. let's see what mr. market has for me.
dreams do come true.
  • #10,466
  • Aug 23, 2011 6:12am Aug 23, 2011 6:12am
Quoting brettboz
OK, I use a much more complete chart than the one I have posted here, but for simplicity sake I have removed everything other than 2 trend lines and a horizontal line. I have also marked where price has tested these levels. Note this is not TMS MA candles, this is standard price candles with no other indicator other than the 3 lines I have drawn on it.

Look where we are now, we have gone above 4420 which will now act as support but we have the pesky trend line 4500 area.

Interestingly I have noticed that is rare for a trend line to hold more...
I draw trendlines the same as the bank traders do it....using bar charts and across the very tips or bottoms only. Each to his own I guess. BUt yep this area seems to be strong.
  • #10,467
  • Aug 23, 2011 6:17am Aug 23, 2011 6:17am
if we get past 80 on the EU i close my shorts. if the retest sends us down i will add.
dreams do come true.
  • #10,468
  • Aug 23, 2011 6:41am Aug 23, 2011 6:41am
still unsure but following the signals...
dreams do come true.
  • #10,469
  • Aug 23, 2011 7:04am Aug 23, 2011 7:04am
heavy basket. total basket is green. now.
dreams do come true.
  • #10,470
  • Aug 23, 2011 7:22am Aug 23, 2011 7:22am
i'll be bailing with what i have...
dreams do come true.
  • #10,471
  • Aug 23, 2011 7:25am Aug 23, 2011 7:25am
Hello guys.

My two set ups for tonight.

EU looks good, with stoch's close to over sold on the 1st candle. 4H shows that it's playing with it's resistance, so I think a reversal's incoming.

GU is iffish... Stoch's aren't the greatest, and I'm the 2nd bar in. Would have bene happier if I got it at the start.

Thoughts??
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU, H1.jpg Size: 150 KB
Click to Enlarge Name: GU, H1.jpg Size: 143 KB
  • #10,472
  • Aug 23, 2011 7:34am Aug 23, 2011 7:34am
Hi,

I just wanted to introduce myself before posting.
I'm not new to forex. First forrex experience started with ponzi scheme I entered when friend of mine told me that FinanzasForex will make me 20-50% earnings every month. Finally, I was lucky to get what was mine, earnings left behind.

Than I decided to run Fx my self, and on demo I was successful, but live.... I don't want to speak about. It was because I was too afraid to lose some money in some trades, put tight SL, and all my trades were stopped by SL.

I found this trade by chance, so it must be a sign from above I will try to read it through. If there is some special posts with new versions of indicators, I will be thankful if someone post it or send me PM. Otherwise, I will find them in thread, but from first 30 pages I looked I saw many different versions, changed version, updated versions, etc.

See you here
  • #10,473
  • Aug 23, 2011 7:43am Aug 23, 2011 7:43am
Quoting ProreX
Hi,

I just wanted to introduce myself before posting.
I'm not new to forex. First forrex experience started with ponzi scheme I entered when friend of mine told me that FinanzasForex will make me 20-50% earnings every month. Finally, I was lucky to get what was mine, earnings left behind.

Than I decided to run Fx my self, and on demo I was successful, but live.... I don't want to speak about. It was because I was too afraid to lose some money in some trades, put tight SL, and all my trades were stopped by SL.

I found this trade by...
Please save yourself time, if you just want to learn this system and only pay attention, initially, to posts from EELFRANZ AND DCQINC. I think someone, maby NESHAT, made a compilation of all of eelfranz posts. If you can find it, in PDF format, it is really good and will save you lots of time. Then you can go back and read all the noise and see if it is helpful to you. Just my opinion.
  • #10,474
  • Aug 23, 2011 7:48am Aug 23, 2011 7:48am
1H signal here, looking good for a short...
Attached Image
  • #10,475
  • Aug 23, 2011 7:48am Aug 23, 2011 7:48am
Quoting tomthepoppop
Please save yourself time, if you just want to learn this system and only pay attention, initially, to posts from EELFRANZ AND DCQINC. I think someone, maby NESHAT, made a compilation of all of eelfranz posts. If you can find it, in PDF format, it is really good and will save you lots of time. Then you can go back and read all the noise and see if it is helpful to you. Just my opinion.
There are many helpful, intelligent, generous contributors on this thread who give a lot of their time and knowledge in the pursuit of helping new people to this method. For you to pipe up and call it noise is pretty rude.
  • #10,476
  • Aug 23, 2011 7:50am Aug 23, 2011 7:50am
Another 1H signal here. looking promising...
Attached Image
  • #10,477
  • Aug 23, 2011 7:52am Aug 23, 2011 7:52am
Quoting pippete
1H signal here, looking good for a short...
I am already in...you shoudl be too or if you are looking to get in next candle it is not per the rules...next candle is the 3rd
  • #10,478
  • Aug 23, 2011 7:55am Aug 23, 2011 7:55am
Is there an alert for the cross, so to speak?

Also, thoughts on the alerts?

To me, I've lost WAY too much money from robots giving me false calls... (Much like your situation Dean, minus the divorce...)

I find it hard on a laptop to monitor so many windows and currencies...

Tips please guys?
  • #10,479
  • Aug 23, 2011 7:57am Aug 23, 2011 7:57am
for +214. i know that i this system trades have no reason to be close now. being the smartass again (like yesterday) and aiming to reload higher.

if Mr. Momentum comes in now that will be a deserved punishment for not obeying this system rules.

i must admit that it looks kind of fishy to me and i want to have lunch worry free.

green pips to u all

WBR
dreams do come true.
  • #10,480
  • Aug 23, 2011 8:01am Aug 23, 2011 8:01am
Just a helpful assist from one of the noisy unwashed following this thread by Eelfranz (Eric).
Attached you will find the updated PDF highlighting Eric's recommendations for his preference to TF and his time zone.

Good to have you on board.
Cliff


Quoting ProreX
Hi,

I just wanted to introduce myself before posting.
I'm not new to forex. First forrex experience started with ponzi scheme I entered when friend of mine told me that FinanzasForex will make me 20-50% earnings every month. Finally, I was lucky to get what was mine, earnings left behind.

Than I decided to run Fx my self, and on demo I was successful, but live.... I don't want to speak about. It was because I was too afraid to lose some money in some trades, put tight SL, and all my trades were stopped by SL.

I found this trade by...
Attached File(s)
File Type: pdf TMS_PDF.pdf   73 KB | 1,531 downloads
I get exercise just pushing my luck
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