Trading Made Simple for Day Charts

Yes, perhaps the swing axis points he's referring to are similar to the fractal breaks Britpip7 uses. But, I would think the fractal would be on a larger time frame, week or month.

stick with tried and true, thank you Britpip for making my daily trades easier to visualize.

B

not seeing this on my chart, nor on the seemingly incorrect chart in Erebus' post -- what am i missing?

... no TDI cross.

My GU short (entered Jan 11th) appears to be moving down.

dear all,

do enlighten me on the atr pips ul corner.

i try to look up dcginc posts on this indicator but seems getting nowhere.

may i ask m i rite to say tat the indicator is for traders using on trailing stop?

If you read Post #1 you will see this:

TMS Links to Other Threads:
Further reading for your education in all things related to Trading Made Simple:
Xaphod did update all of the TMS related indicators and pulled these from a variety of sources- make sure you download the latest versions - here is page 1 of his thread
http://www.forexfactory.com/showthre...40#post4619540
and here is the link to the attachments which will have all of the other discussed indicators http://www.forexfactory.com/misc.php...ments&t=294327

e/u and e/j may develop into tdi crosses but need PA to move farther south - alos in the 32 region. If the support gets broken then we are in clear water heading down.

Similar situation for g/u.

Bear in mind that we are in to Sunday trading - not renowned for large moves if there is no gap - nothing moved the market for the opening, so no real expectations at this time on the day charts

jmtini has been removed - don't really need folks spamming the group and getting us off topic - feel free to pm him/her if you wish to participate in whatever is being offered.

Looks promising with RSI and TDI dropping.

This is running in to a possible congestion area with the Moving Averages, 200ema is very flat - so a more conservative entry would be to wait and see where Monday closes. One of those patience issues.

Edit - 2 1/2 hours later, the PA has retraced, so currently not an entry - my Monday comment is still valid - PA may well come back and provide a good signal candle.

When there is nothing much happening, continue to back test and look for trade entry patterns.

The more back testing you do, the better armed you are for picking up on the entry patterns.

Here's another hindsight chart for training purposes - Trade 1 is a reversal trades - Trade 2 is more of a continuation trade.

The two trade entries on the charts follow strong signal candles (Entries would have been on the 1st or 2nd candle following the signal / TDI cross), with a 5ema cross and higher highs. These are following the higher EMA lines and the PA is above all of the EMAs - on this chart, the strongest probability trades will be longs. This is re-enforced by the strong down candle in the ellipse which did not carry through with any great conviction. If this was taken, then the TDI hook would have been a good danger/exit signal (and may have cost you 100pips depending on how quickly you move your SL to BE) and coincided with Trade 2 entry.

With Trade 1, the TP1 would have been achieved @ 2XATR(7) = 218pips. TP2 of 4XATR(7) would not have been met and would have depended upon your trade management skills - Max achievable was 400pips - a more likely result would be in the 200 to 300pips region.

Trade 2 would have hit TP1 @ 2XATR(7) = 168pips as would TP2 @ 4XATR(7) = 336pips.

Probable pip haul would have been in the region of 800 to 900pips. This was over a time period of 40 trading days, so a little under 7 weeks.

Hello

Can you send me a pm because me Im a junior member and I can pm you.

Thanks

Best Regards
Danutz

I am not getting the use of fractals...could someone please elaborate on their use, or point to where I could study their use on my own? thanks

Check out the posts by Britpip7. In one of those he explains their use and how they are calculated. For my usage they simply point out swing highs and lows, both intermediate and long term. One can then compare with the ATR for SL & TP setings. Hope this helps.

Hi.

M,

GBPCAD looks like a bounce down opportunity as well.
GBPCHF could be heading up.

The rest appears to be dead or no cross.

Britpip,

Can you please explain "PA moves with ATR(1) at 75% or higher of ATR(7)".

Thanks
Mitch

You mean in real words?

OK - I'll give it a go.

This was written for reversal trades. PA is for the Price Action move and is basically the signal candle (Change in colour / direction) - I will look to enter based on the next candle breaking the H/L of the signal candle.

The ATR(7) provides you with the Average True (Trading) Range for the pair over the past 7 candles.

Folks keep asking what size of candle should they use to enter a trade and I was basing my entries off of an individual candle - ATR(1), so I am looking for a strong signal candle to base my entry as many folks were just going after a colour change, so my entry rule was initially that I wanted the signal candle to be at least 50% the size of the ATR(7) value, but I prefer 75%.

For example, if the current ATR(7) value is at 100pips, then I am looking for the signal candle to be at least 50pips and preferably 75pips or higher. This also means that I am looking for a larger body than wicks on the signal candle - no doji / pin bars, etc. - Refer to the latest training chart that I posted.

Hope this helps

Here we are on Monday and this pair continues to set up for a long entry once it overcomes the resistance at 1.0400.

Candles have cleared the 200ema and tdi is showing a stronger cross, so an entry point above 1.0400 may be a play. Next resistance will be 350 pips away.

GBPCAD
GBPAUD
GBPNZD

Large 100 pip candles, TDI bounces...
Seem like new trade opportunities at the start of the next candle.

... turn out to be small candles.
No trades.

Britpip,

so yesterday D1 candle is 70+ pips is that a valid long trade as it is still hovering 1.037x