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Trading Made Simple for Day Charts

  • #361
  • Jan 10, 2012 12:55am Jan 10, 2012 12:55am
I went long on the NZDUSD 7 hours ago and it's up 60 pips so far. see post 348

Quoting minortrader
-------------------------------------------------------------------------
Firstly, my sincere thanks ....
4. NZDUSD - SELL ...
  • #362
  • Jan 10, 2012 12:57am Jan 10, 2012 12:57am
Anyone going long A/U?
  • #363
  • Jan 10, 2012 12:58am Jan 10, 2012 12:58am
Quoting emmanuel7788
Hi Brit,
That's an awesome trade ...long swing trade!
TMS on D1 chart trading is good for swing traders.
You caught a 'falling knife' right from the top.
The bottom is no where to be seen.
Question is: How do one try catch a falling knife without getting hurt?
I think we need a TMS D1 version to catch entry for such situation.

BTW, I like your trade management mioving stops to previous day high in this sell trade. Maximise the profit ..."Let profit run..."

Good journey down for this one.

regards
ET
Rule #1 - never attempt to catch a falling knife!

This trade was perfectly set up with the 1st pause and then the 2nd pause and this is one of my favourite patterns to trade. This pattern repeats on many of the reversal trades, so if you miss the initial move, there is often a set-up for a second / third push. TDI will show a bounce, but once your tdi moves below 32, not much in the way of signals unless it breaks the lower band - hence my approach with TDI + Fractals.

From my original screenshots on this, everything was saying short, so the trigger point was the Fractal Low at 1.6821.

Apologies for the chart without TDI-Hist and Watchdog - laptop still broke and my backup system does not have all the indis loaded!
"To live with Passion, it takes Courage and Grace to survive"
  • #364
  • Jan 10, 2012 12:58am Jan 10, 2012 12:58am
Quoting Verbal
I went long on the NZDUSD 7 hours ago and it's up 60 pips so far. see post 348
Good trade - this is one on my list for long
"To live with Passion, it takes Courage and Grace to survive"
  • #365
  • Jan 10, 2012 12:59am Jan 10, 2012 12:59am
Quoting jwscott
Anyone going long A/U?
Nope - needs to break the current range before entering
"To live with Passion, it takes Courage and Grace to survive"
  • #366
  • Jan 10, 2012 1:03am Jan 10, 2012 1:03am
Quoting Britpip7
Nope - needs to break the current range before entering
do you mean break past the prev. high of 1.3250? or some other level?
  • #367
  • Jan 10, 2012 1:08am Jan 10, 2012 1:08am
Quoting jwscott
do you mean break past the prev. high of 1.3250? or some other level?
Next resistance looks to be 1.0385 - I am waiting for a close above that.

the weekly has been setting lower highs, so this may not run too far - look to set inital TP1 @ 1Xatr(7) and maybe ride TP2 if it runs.
"To live with Passion, it takes Courage and Grace to survive"
  • #368
  • Jan 10, 2012 1:41am Jan 10, 2012 1:41am
Quoting fxjourney
...

GBP/NZD - entry 1.9763 currently +115 pips. Stop is at B/E.
....

GBP/NZD trade still running - now 26 hours old. Currently +262 pips. Stop locked at +100.

This morning the only trade on my radar was NZD/USD (long) - have not entered yet as it has already run up quite hard and I expect a pull back. Verbal's entry was very good 7 hours ago.

Will review later.
  • #369
  • Jan 10, 2012 1:46am Jan 10, 2012 1:46am
Quoting fxjourney
GBP/NZD trade still running - now 26 hours old. Currently +262 pips. Stop locked at +100.

This morning the only trade on my radar was NZD/USD (long) - have not entered yet as it has already run up quite hard and I expect a pull back. Verbal's entry was very good 7 hours ago.

Will review later.
Are people entering trades as the TDI crosses or something? I have a cross on NZDUSD but the bar is only 9 hours old!
  • #370
  • Jan 10, 2012 2:03am Jan 10, 2012 2:03am
Quoting willf
CHFJPY Second lot was stopped out at break even. Total for this trade was +70 pips.

EURJPY & EURUSD are still in play even though they have retraced a little.
EURUSD Second lot stopped out at break even. Total for this trade was +115 pips.

EURJPY is still in play. Second lot hovering around the +50 pip area.
  • #371
  • Jan 10, 2012 8:00am Jan 10, 2012 8:00am
Possible coming entries at the end of current bar:

UCAD: Short
AUDJPY: Long
  • #372
  • Jan 10, 2012 10:51am Jan 10, 2012 10:51am
i wait of the next candle,
on aud-jpy i am not shure!
Quoting kijkij
Possible coming entries at the end of current bar:

UCAD: Short
AUDJPY: Long
  • #373
  • Jan 10, 2012 11:02am Jan 10, 2012 11:02am
Quoting stevebalmmer
i wait of the next candle,
on aud-jpy i am not shure!
Possibly a EURAUD bounce trade?

Graham
  • #374
  • Jan 10, 2012 11:21am Jan 10, 2012 11:21am
My Likely setups for tomorrows trade..AUDUSD, USDCAD and AUDJPY...who is can confirm plz?
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  • #375
  • Jan 10, 2012 12:00pm Jan 10, 2012 12:00pm
Quoting fxjourney
GBP/NZD trade still running - now 26 hours old. Currently +262 pips. Stop locked at +100.
......
Trade now 38 hours old.

GBP/NZD - entry 1.9763. Current profit is +252 pips. Stop moved down to lock in +145 pips.

Update in the morning at opening of new daily candle which is 5am GMT.
  • #376
  • Jan 10, 2012 12:04pm Jan 10, 2012 12:04pm
Quoting willf
GBPJPY 118.37 TP1=117.53
USDCAD 1.0294 TP1=1.0375
Quick update on these trades.

GBPJPY is down around -55 pips but still looks promising. Very little movement today and is still way off the EMA so going to hold a little longer.

USDCAD has not faired well. Currently down -120 pips. Was down almost -140 earlier today but is has made a little ground. Was going to close it but decided to move the stop to todays low and play it out. If I closed it all together I just know it will shoot off
  • #377
  • Jan 10, 2012 12:25pm Jan 10, 2012 12:25pm
Quoting angelo5uk
My Likely setups for tomorrows trade..AUDUSD, USDCAD and AUDJPY...who is can confirm plz?
Hi angelo5uk

I am not a 'guru' at the TMS method - but here are my 2 cents on your trade watch list:

AUD/USD - major trend is long (weekly) with possible further movement up. Daily shows same direction. Some resistance at current levels (1.0300) that may hold things back a bit. Be careful.

USD/CAD and AUD/JPY have similar situations on the weekly chart - no clear trend yet and so I would be wary of entering either of these trades on the daily chart because they could be range bound and not run too far.

Both pairs (USD/CAD & AUD/JPY) may offer good pips but I am not convinced of the setups so I would prefer to stay out and look for something on the daily chart where the entry is in the same direction as an existing and strong trend. Far easier to make pips swimming in a big stream and going with the current than to swim against the flow or try and swim in a little stream that only comes up to your ankles.

I discovered long ago (through lessons learnt the hard way) that trying to pick the start of a new trend and trading it is much like sliding down a wet rope with lots of razor blades sticking out of it. It hurts real bad and gets very messy!
  • #378
  • Jan 10, 2012 1:02pm Jan 10, 2012 1:02pm
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
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give 1 and get 100
  • #379
  • Jan 10, 2012 1:36pm Jan 10, 2012 1:36pm
I'm rather new to TMS but it seems to me that in the current market (mostly consolidating?) H4 charts have more potential and get you earlier in. I hope I am not violating any rules by questioning the main topic of this thread. It's just something I'd like to share and discuss.
  • #380
  • Jan 10, 2012 1:42pm Jan 10, 2012 1:42pm
Quoting ghepburn
Possibly a EURAUD bounce trade?

Graham
GBPAUD looks similar.

Imminent TDI cross down on GBPCAD.
Same on EURCAD.
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