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Trading Made Simple for Day Charts

  • #241
  • Jan 5, 2012 2:52pm Jan 5, 2012 2:52pm
Quoting Nacho
thank you smatthew and lostfx,

as for eurusd yeah, I was definetely going against the trend...but gbpusd? it was the fourth consecutive blue candle, I thought it could start climbing up...
If you look at your chart, the red candle down (before it started to climb up) made a new lower low. However your 4 consequtive blue candles didn't make higher high. The last blue candle (from those 4) actually formed lower high and then headed back south, which is perfectly alligned with major down trend.
"All good things come to those who wait..."
  • #242
  • Jan 5, 2012 4:46pm Jan 5, 2012 4:46pm
Quoting smatthew
Closed / stopped out
EURHKD long -500 (equivalent to -100 @ lotsize 25000)
GBPUSD long -30
USDSGD short -50

All trades were taken against the trend, so good lesson there.

Still open
GBPNZD short +266 (open since Dec 28th, TDI and candle went flat but holding on to trade anyway)
AUDCHF long +145 (open since Jan 2nd, TDI still pointing upwards)
AUDUSD long +118 (open since Jan 2nd, TDI flattening but holding on to trade anyway)

New trades
GBPCHF long (see my previous post for screenshot explaining why I entered)
EURSGD...
Closed / stopped out
GBPNZD short +200 (stopped out on big pullback)
AUDUSD long +50 (closed since trade started to bleed too many pips)
GBPCHF long +50 (closed because of TDI flattening and new candle is smaller)
CADCHF long +40 (closed because of TDI flattening and new candle is smaller)
AUDCHF long +160 (closed because of TDI flattening and new candle is smaller)

I've learned to trust the TDI and candle sizes when it comes to exits.
I'd rather exit with pips and reenter later than end with no pips at all.

Still open
EURSGD +140 (keeping this open since downtrend appears to be strong -> TDI sloping downwards and big candle, will move stop up tomorrow before NFP)
Financial independence is what I live for
  • #243
  • Edited 8:11pm Jan 5, 2012 8:07pm | Edited 8:11pm
Very nice sell setup on this three pairs AUDUSD, EURUSD AND LONG ON USDCAD but juts like i said yesterday, its a no trade day for me cos of the NFP coming up later in the day..
confirmation of the setups plz
Attached Image(s) (click to enlarge)
Click to Enlarge Name: b.png Size: 3 KB
Click to Enlarge Name: c.png Size: 3 KB
Attached Image
  • #244
  • Jan 5, 2012 9:34pm Jan 5, 2012 9:34pm
Quoting angelo5uk
Very nice sell setup on this three pairs AUDUSD, EURUSD AND LONG ON USDCAD but juts like i said yesterday, its a no trade day for me cos of the NFP coming up later in the day..
confirmation of the setups plz
But AU previous bar did not close below 5EMA and on EU its 3rd bar so little confuse about these trades but UCAD is a good setup if NFP comes out good
  • #245
  • Edited 11:49pm Jan 5, 2012 11:30pm | Edited 11:49pm
Lots of reversal set ups occurring tonight.

Non Farm Payroll tomorrow, so be careful. I am not entering any new trades tonight - Oh but it is so tempting! Patience grasshopper - if the moves continue through Friday, then I will look for entries.

Current set-ups

eu new tdi cross plus fractal break

gu new tdi cross but ranging - needs to break the range

au / aj / nzu fresh tdi - pa sitting on 200ema, so needs to develop more momentum

ea taking a pause - may be a new entry point setting up

ga new tdi but no real angle - needs more pa

gnz / enz are taking a pause - possible re-entry if the trend continues

ej trend continuing

gj bouncing along strong support level

ucad nice tdi cross - possible entry at 1.0224 - break of previous candle

auch trend continues

uch trend running into resistance - approaching parity

chj bouncing along support levels
"To live with Passion, it takes Courage and Grace to survive"
  • #246
  • Jan 5, 2012 11:48pm Jan 5, 2012 11:48pm
eur/nzd trade still running after 8 days

SL moved again to previous day's high and now has 340 pips locked in.

TP1 closed out at 290 pips, so a minimum of 630 pips so far for TP1 and TP2.

This pair is having a well earned rest and may move again on NFP if the Euro comes under pressure, so time to sit tight, watch and trust in the SL.

I will leave this open for the weekend if the SL holds.

Since Nov 25th, this pair has run for 1,500 pips with multiple entry / re-entry points. This is a good pattern to learn for future trend runs.
Attached Image (click to enlarge)
Click to Enlarge Name: eur nzd 1-5-2012.gif Size: 28 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #247
  • Jan 6, 2012 12:19am Jan 6, 2012 12:19am
Quoting kijkij
But AU previous bar did not close below 5EMA and on EU its 3rd bar so little confuse about these trades but UCAD is a good setup if NFP comes out good
Hi Kijkij

According to Eelfranz (author of the original TMS method) price closing below the 5EMA is NOT a rule for entry. He used the 5EMA simply as a guide for current trend only.
  • #248
  • Jan 6, 2012 12:22am Jan 6, 2012 12:22am
EU still running lower and I missed a perfect set-up. Too distracted this week with other stuff!

Jan 3rd - good size candle breaks north of the 5ema - not an entry

Jan 4th - engulfing bear candle is the set up candle for short entry off of the candle low with the tdi cross OR you could take the Fractal Low Break.

Either was you look at it - a good entry position.
Attached Image (click to enlarge)
Click to Enlarge Name: eu missed entry.gif Size: 24 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #249
  • Jan 6, 2012 12:42am Jan 6, 2012 12:42am
Quoting fxjourney
Hi Kijkij

According to Eelfranz (author of the original TMS method) price closing below the 5EMA is NOT a rule for entry. He used the 5EMA simply as a guide for current trend only.
Is there such a thing as a perfect set up?

My ideal scenario would be the following for long entries.

PA moves with ATR(1) at 75% or higher of ATR(7)
RSI moving above 50
TDI cross within the last 2 or 3 candles
5EMA broken to the upside

The chart is showing this with vertical lines for the set-up candles for my trading plan - blue for long, yellow for short. The signal candle means that I will take the break of the signal candle H/L as the entry point on the next candle.
Attached Image (click to enlarge)
Click to Enlarge Name: entry candle training 3.gif Size: 35 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #250
  • Edited 1:27am Jan 6, 2012 1:03am | Edited 1:27am
Quoting kijkij
But AU previous bar did not close below 5EMA and on EU its 3rd bar so little confuse about these trades but UCAD is a good setup if NFP comes out good
i think we are confusing each other , When BIG.E said we should take trades at 1st or 2nd and avoid the 3rd. Was he referring to the candles after the TDI cross or after the Bars change colour
  • #251
  • Jan 6, 2012 3:26am Jan 6, 2012 3:26am
Quoting angelo5uk
i think we are confusing each other , When BIG.E said we should take trades at 1st or 2nd and avoid the 3rd. Was he referring to the candles after the TDI cross or after the Bars change colour
Hi angelo5uk

The APB / HA candles typically lead and warn of a trend change earlier than the TDI cross. So often, not always, you will see the candles change colour before the TDI crosses in the same direction as the candles of the new colour.

If the TDI cross happens on candle 1 or 2 of the fresh colour candles (trend change ABP / HA candles) then it is valid.
  • #252
  • Jan 6, 2012 3:49am Jan 6, 2012 3:49am
Quoting angelo5uk
i think we are confusing each other , When BIG.E said we should take trades at 1st or 2nd and avoid the 3rd. Was he referring to the candles after the TDI cross or after the Bars change colour

Most better is when TDI cross on 1st or 2nd APB bar but you can enter a trade if other factors convincing you as Britpip7 explained above for fractel break.
  • #253
  • Jan 6, 2012 3:53am Jan 6, 2012 3:53am
Quoting Britpip7
Is there such a thing as a perfect set up?

My ideal scenario would be the following for long entries.

PA moves with ATR(1) at 75% or higher of ATR(7)
RSI moving above 50
TDI cross within the last 2 or 3 candles
5EMA broken to the upside

The chart is showing this with vertical lines for the set-up candles for my trading plan - blue for long, yellow for short. The signal candle means that I will take the break of the signal candle H/L as the entry point on the next candle.
Britpip7 Good lesson here. Thanks
  • #254
  • Jan 6, 2012 6:32am Jan 6, 2012 6:32am
Quoting angelo5uk
Very nice sell setup on this three pairs AUDUSD, EURUSD AND LONG ON USDCAD but juts like i said yesterday, its a no trade day for me cos of the NFP coming up later in the day..
confirmation of the setups plz
AU -> lack of PA (small candles)
EU -> good setup but skipped due to NFP
USDCAD -> IMO the situation looks like a bullish pennant
http://babypips.cachefly.net/school/...nant-after.png
(http://www.babypips.com/school/pennants.html)
Let's see how this one pans out.

Quoting Britpip7
Lots of reversal set ups occurring tonight.

Non Farm Payroll tomorrow, so be careful. I am not entering any new trades tonight - Oh but it is so tempting! Patience grasshopper - if the moves continue through Friday, then I will look for entries.

Current set-ups

eu new tdi cross plus fractal break

gu new tdi cross but ranging - needs to break the range

au / aj / nzu fresh tdi - pa sitting on 200ema, so needs to develop more momentum

ea taking a pause - may be a new entry point setting up

ga new tdi but no real angle - needs...
Looking forward to bounce down on ga, gnz and enz.
I was in ej short but bailed out at TDI cross up.

Quoting Britpip7
eur/nzd trade still running after 8 days

SL moved again to previous day's high and now has 340 pips locked in.

TP1 closed out at 290 pips, so a minimum of 630 pips so far for TP1 and TP2.

This pair is having a well earned rest and may move again on NFP if the Euro comes under pressure, so time to sit tight, watch and trust in the SL.

I will leave this open for the weekend if the SL holds.

Since Nov 25th, this pair has run for 1,500 pips with multiple entry / re-entry points. This is a good pattern to learn for future trend runs.
Great trade
Sure TDI went flat, but PA is still pointing downwards.
Good call to stay in the trade, even though NFP is an hour away.

Quoting Britpip7
EU still running lower and I missed a perfect set-up. Too distracted this week with other stuff!

Jan 3rd - good size candle breaks north of the 5ema - not an entry

Jan 4th - engulfing bear candle is the set up candle for short entry off of the candle low with the tdi cross OR you could take the Fractal Low Break.

Either was you look at it - a good entry position.
If it weren't for NFP, I'd have entered this not earlier than 15 hours ago at the start of the new candle (which is at 23:00 GMT+1 for me).
Does this coincide with your entry moment?
Financial independence is what I live for
  • #255
  • Jan 6, 2012 8:11am Jan 6, 2012 8:11am
My EURSGD short got a 70 pip boost thanks to NFP
Looked as if Hasselhoff pushed the turbo button in Kit
Attached Image(s) (click to enlarge)
Click to Enlarge Name: before NFP.jpg Size: 147 KB
Click to Enlarge Name: after NFP.jpg Size: 148 KB
Financial independence is what I live for
  • #256
  • Jan 6, 2012 9:20am Jan 6, 2012 9:20am
Quoting smatthew
My EURSGD short got a 70 pip boost thanks to NFP
Looked as if Hasselhoff pushed the turbo button in Kit
Congrates, but how you manage these too many trades...?
  • #257
  • Jan 6, 2012 9:39am Jan 6, 2012 9:39am
Guess NFP ruined it for us cos EURUSD and USDCAD are moving as planned.....hope to get a bounce next week for re-entry
  • #258
  • Jan 6, 2012 11:25am Jan 6, 2012 11:25am
Took a few trades last night, first of 2012

CHFJPY 80.94 TP1=80.24
EURJPY 98.63 TP1=97.87
EURUSD 1.2787 TP1=1.2672

Once they reach the first TP I will move them to break even and see how it goes.

CHFJPY & EURJPY were both bounce trades. Stochs never confirmed but the more I look at the stochs the more irrelevant they seem so I may drop them soon.

There were other TDI crosses on CADJPY and USDCHF but the preceding price action was flat so I skipped them.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chfjpy.jpg Size: 105 KB
Click to Enlarge Name: eurjpy.jpg Size: 102 KB
Click to Enlarge Name: eurusd.jpg Size: 107 KB
  • #259
  • Jan 6, 2012 11:40am Jan 6, 2012 11:40am
Quoting kijkij
Congrates, but how you manage these too many trades...?
There are two screenshots: the first shows 30 mins. before NFP, the second 30 mins. after. The lopleft corners of each picture show my EURSGD trade which is currently the only trade I have open.

Last night I've closed a bunch of trades (mostly xxx / CHF) for reasons I've explained in one of my previous posts.

However, I've kept the charts of those pairs open, just to see where price would go. This way I could verify the validity of my exit strategy.
It turns out the exits were correct, since price either stalled or went the other way.

Big E explained that flattening or checkmark reversals in the TDI, along with candles getting smaller, indicate possible exit points.

I'm deliberately using the word "possible" here, since Britpip7's EURNZD short proves that a flat TDI, a smaller candle (and NFP coming up) doesn't have to mean that one should exit the trade.

By the way, I've recently started to use 100 pip trailing stops to manage the trades.
Financial independence is what I live for
  • #260
  • Edited 12:03pm Jan 6, 2012 12:00pm | Edited 12:03pm
Quoting willf
Took a few trades last night, first of 2012

CHFJPY 80.94 TP1=80.24
EURJPY 98.63 TP1=97.87
EURUSD 1.2787 TP1=1.2672

Once they reach the first TP I will move them to break even and see how it goes.

CHFJPY & EURJPY were both bounce trades. Stochs never confirmed but the more I look at the stochs the more irrelevant they seem so I may drop them soon.

There were other TDI crosses on CADJPY and USDCHF but the preceding price action was flat so I skipped them.
NFP is a huge market mover and taking trades right before would normally be considered suicidal

Thankfully you're in the green on all three trades.
I'd think you could have taken the two bounce trades a candle earlier though.

Stochs: Dropped them a month ago. Same applies to EMA5. Clutters up the charts without having any real effect on the decision making process.
Financial independence is what I live for
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