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  • #3,481
  • Feb 1, 2012 5:24am Feb 1, 2012 5:24am
Watchout for this current h1 candle close. Study the APB closely to see how it will close. Observe the APB Open/Close of the previous candle and this current one.

If you are backtesting, look at today' reversal setup of the two red APB.
Such APb pattern follow by TDI cross and PA into PAC is a very good setup.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,482
  • Feb 1, 2012 5:29am Feb 1, 2012 5:29am
Quoting emmanuel7788
Watchout for this current h1 candle close. Study the APB closely to see how it will close. Observe the APB Open/Close of the previous candle and this current one.

If you are backtesting, look at today' reversal setup of the two red APB.
Such APb pattern follow by TDI cross and PA into PAC is a very good setup.
I agree since this is happening right at the 61.8% level showing that level did not break it could be the start of the 3rd leg of the 123 pattern
X-man the legendary conqueror of markets
  • #3,483
  • Feb 1, 2012 5:36am Feb 1, 2012 5:36am
Quoting Steve 56
Dr Zulu, Check your using Sonic SHI Channel MTF at bottom of X-Mans first page under 4hr Template
Tnx Steve!
Had the wrong one!
  • #3,484
  • Feb 1, 2012 5:42am Feb 1, 2012 5:42am
I longed EU due to 4h-rule.
  • #3,485
  • Feb 1, 2012 5:43am Feb 1, 2012 5:43am
Quoting X-Man
I agree since this is happening right at the 61.8% level showing that level did not break it could be the start of the 3rd leg of the 123 pattern

This morning I mention 1.3045 being an important level.

It is actually the 61.8% rectracement of the rally of the 2010 Low (June) to the High of 2011 (May).

This 1.3045 was playing last week and now is support. Failure can mean a drop to to test 1.26. Long term traders are looking very hard at this.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,486
  • Feb 1, 2012 5:52am Feb 1, 2012 5:52am
Quoting smash85
I longed EU due to 4h-rule.
May I ask you why as 4EMA did not touch 60EMA?
Attached Image
  • #3,487
  • Feb 1, 2012 5:54am Feb 1, 2012 5:54am
Quoting emmanuel7788
Watchout for this current h1 candle close. Study the APB closely to see how it will close. Observe the APB Open/Close of the previous candle and this current one.

If you are backtesting, look at today' reversal setup of the two red APB.
Such APb pattern follow by TDI cross and PA into PAC is a very good setup.
Hi emmanuel7788,

Thank you for your explaination fo the H1 setup.. it really helps me to understand better with your pic... Will save it as references....

Anyway, just need another advise on the H4 TDI breakout.. Can we go LONG base on these setup for swing trade..? candle above EMA 60, TDI crosses and I enter on the 2nd Blue candle.. anyway im trying this setup on demo...

any comment? need more guidence from the senior traders... Tq

Thank you X-man for the previous explanation.. It really helps...
  • #3,488
  • Feb 1, 2012 6:00am Feb 1, 2012 6:00am
Quoting emmanuel7788
This morning I mention 1.3045 being an important level.

It is actually the 61.8% rectracement of the rally of the 2010 Low (June) to the High of 2011 (May).

This 1.3045 was playing last week and now is support. Failure can mean a drop to to test 1.26. Long term traders are looking very hard at this.
Aaah I see what you mean.
I dont really look at the monthly charts but that could be a vital area as you pointed out. The reason why I dont look at the monthly or the weekly is because during that time PA will go up and down 100 times before it closes.
I mostly look at the 1H and 4H chart for direction. Now and then i'll just glance at the daily

In times of confusion i just trade what i see and I will never trade a guess. Thats a good tip for all the noobs.
X-man the legendary conqueror of markets
  • #3,489
  • Feb 1, 2012 6:05am Feb 1, 2012 6:05am
Trade me today just enough crazy. I hope that I will not play with the AU, I really can not treat commercial madness, I am difficult to estimate movement. Only the EU only a little to gain. Huhuhuhu.
  • #3,490
  • Feb 1, 2012 6:09am Feb 1, 2012 6:09am
Quoting Dr_Zulu
May I ask you why as 4EMA did not touch 60EMA?
TDI went through blue bands followed by a cross and overall trend is upward.
  • #3,491
  • Feb 1, 2012 6:10am Feb 1, 2012 6:10am
Quoting arramiss78
Hi emmanuel7788,

Thank you for your explaination fo the H1 setup.. it really helps me to understand better with your pic... Will save it as references....

Anyway, just need another advise on the H4 TDI breakout.. Can we go LONG base on these setup for swing trade..? candle above EMA 60, TDI crosses and I enter on the 2nd Blue candle.. anyway im trying this setup on demo...

any comment? need more guidence from the senior traders... Tq

Thank you X-man for the previous explanation.. It really helps...

Hi arramiss,

My view now:

1. First I have to ask myself, if I go long on H4 now, where will the logical Stop Loss (SL) be and where is the potential Target Profit (TP).
There is strong resistance @1.3200, do I get a RR trade of 1:1.5 at minimum?

2. I take a look at D1 chart timeframe (TF), it does not good for a Long trade. PA is inside the PAC now and what look like a reversal point yet to be confirmed.

I favour more a SELL trade on D1 TF but would rather take my enrty on lower TF like H4, so I would rather sell hgh now.

This is how I wouild trade right now. Other traders will have other ideas. We are all wrong until we let the market prove us right.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,492
  • Feb 1, 2012 6:19am Feb 1, 2012 6:19am
Scored +47 pips today with EU. X-Man, you are perfect. So simple and nicely working. My trade ideas have been correct almost every single time this week using your method on the H1. Hopefully it will be going like this in the future as well.

Will be interesting to see how the market goes when NY opens. I'm suspecting bearish myself but I'm no expert.

Seems like the news are something we need to follow, mainly the High impact news. Today for EU it was Consumer Price Index (YoY).
I'm still learning! George
  • #3,493
  • Feb 1, 2012 6:27am Feb 1, 2012 6:27am
If we see the price drop under daily pivot when NY opens I guess it will continue in that direction.
Thoughts are things
  • #3,494
  • Feb 1, 2012 6:37am Feb 1, 2012 6:37am
pulled EU StoppLoss to Entry (+50 Pips).
  • #3,495
  • Feb 1, 2012 6:41am Feb 1, 2012 6:41am
Finally I think I grasp the concept of backtesting with Synergy Bars!
Took a while but have got there in then end, just backtested November of 2011 and had roughly 11% account gain, that was me being critical!
Start backtesting 2011 data the Right way tomorrow.
Thanks to Emmanuel and X-Man for answering my questions.
  • #3,496
  • Feb 1, 2012 6:42am Feb 1, 2012 6:42am
buy signal chart 5m
Attached Image
  • #3,497
  • Feb 1, 2012 6:43am Feb 1, 2012 6:43am
Hopefully the attached chart will show better what I meant earlier about 1.3045.

For most intrday traders, we need not care so much into higher TF details.
But when we take swing trades which can last for few days to 2-3 weeks, we need a bigger picture.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Big Picture week05 2012.png Size: 105 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,498
  • Feb 1, 2012 6:47am Feb 1, 2012 6:47am
i losing the trade for the latest pullback candle, i still confuse the entry rules?
can someone help me, i short eu @1.3130
  • #3,499
  • Feb 1, 2012 6:57am Feb 1, 2012 6:57am
Quoting ian52
i losing the trade for the latest pullback candle, i still confuse the entry rules?
can someone help me, i short eu @1.3130
Hi Ian,

which latest pullback candle? please attached a chart for us.
thanks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,500
  • Feb 1, 2012 6:58am Feb 1, 2012 6:58am
Quoting ian52
i losing the trade for the latest pullback candle, i still confuse the entry rules?
can someone help me
If you are talking about the 11:00 GMT blue candle, this is as far as I would say not a valid pullback candle. The candles open is way more to the wick of the candle then to the body.

You can find a more detailed explanation in some of X-Mans postes from a while ago.
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