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Trading Made Simple for Day Charts

  • #621
  • Feb 6, 2012 7:40am Feb 6, 2012 7:40am
Quoting Britpip7
What I do like about the ATD is the colour change and in particular the configuration of a good set-up candle. So the real answer is that I'll often look for the set up with both charts running - sometimes overlaying the price bars onto ATD to verify PA/momentum.
I went back to post #1 and went over it. Could not find any reference to ATD. What is ATD please??

DD
  • #622
  • Feb 6, 2012 8:30am Feb 6, 2012 8:30am
Quoting Dildubai
I went back to post #1 and went over it. Could not find any reference to ATD. What is ATD please??

DD
Typo maybe? I think he means APB - average price bar but not sure, just a guess.
  • #623
  • Feb 6, 2012 10:54am Feb 6, 2012 10:54am
Quoting piprac
Typo maybe? I think he means APB - average price bar but not sure, just a guess.
Indeed - it was a typo - sorry about that
"To live with Passion, it takes Courage and Grace to survive"
  • #624
  • Feb 6, 2012 2:15pm Feb 6, 2012 2:15pm
Watching around 30 pairs, but hardly any action.
Britpip, did you take any recent trade that failed / worked out?
Financial independence is what I live for
  • #625
  • Feb 6, 2012 5:01pm Feb 6, 2012 5:01pm
Quoting smatthew
Thanks guys. You've convinced me to let the trade breathe.

The bit about green crossing the blue bands is quite interesting .
I could confirm it on my USDCHF chart.
Trade still open. Not moving all that much.
Attached Image (click to enlarge)
Click to Enlarge Name: $USDCHF (Daily) 13-9-2011 - 7-2-2012.jpg Size: 73 KB
Financial independence is what I live for
  • #626
  • Feb 6, 2012 5:03pm Feb 6, 2012 5:03pm
Quoting smatthew
Support @ 1,2900 got broken.
I placed a sell stop earlier at 1,2850.
This is about 20 pips below the low of 1/18's candle.
Kind of a "hope" trade
Attached Image (click to enlarge)
Click to Enlarge Name: $AUDNZD (Daily) 16-9-2011 - 7-2-2012.jpg Size: 77 KB
Financial independence is what I live for
  • #627
  • Feb 6, 2012 5:09pm Feb 6, 2012 5:09pm
Quoting smatthew
Watching around 30 pairs, but hardly any action.
Britpip, did you take any recent trade that failed / worked out?
I am sitting on eu short which has decided not to do very much - This is 5 days in to the trade.

Also in process is the eur/nzd after it broke and closed below the latest support.

Wait and see I am afraid. One thing with trading day charts, and waiting for the day to close before trading, it makes for quite a non-eventful day when things are slow. No new entry signals and the charts tell you that you are in conjestion. When the break outs occur, they should be easy to spot after flat lining for so long!
"To live with Passion, it takes Courage and Grace to survive"
  • #628
  • Feb 6, 2012 5:25pm Feb 6, 2012 5:25pm
Quoting Britpip7
I am sitting on eu short which has decided not to do very much - This is 5 days in to the trade.

Also in process is the eur/nzd after it broke and closed below the latest support.

Wait and see I am afraid. One thing with trading day charts, and waiting for the day to close before trading, it makes for quite a non-eventful day when things are slow. No new entry signals and the charts tell you that you are in conjestion. When the break outs occur, they should be easy to spot after flat lining for so long!
..to your breakout analysis.
I'll have to brush up on my knowledge of breakout detection. No doubt Babypips will prove to be useful again.
Financial independence is what I live for
  • #629
  • Feb 6, 2012 5:56pm Feb 6, 2012 5:56pm
Quoting smatthew
..to your breakout analysis.
I'll have to brush up on my knowledge of breakout detection. No doubt Babypips will prove to be useful again.

Look for your trading ranges to narrow which will be the conjestion area and then a breakout is a candle closing above/below the Upper/Lower levels of the range - should look like a reversal with a strong TDI cross and good PA / momentum
"To live with Passion, it takes Courage and Grace to survive"
  • #630
  • Feb 6, 2012 8:58pm Feb 6, 2012 8:58pm
Quoting Britpip7
Indeed - it was a typo - sorry about that
Thank you for coming back mae. was totally confused.

Good trades

DD
  • #631
  • Feb 7, 2012 12:28am Feb 7, 2012 12:28am
As the trading range narrows over a longer period of time, the EMAs flatten out as does the TDI which will drift back to 50 as will the RSI, so no momentum.

Quite a few examples of this - E/U, NZ/U, GB/NZ, EU/NZ, EJ

Now watch for breakouts on your favourite pairs - candles to close above/below the range with TDI cross and PA momentum
Attached Image (click to enlarge)
Click to Enlarge Name: trading range narrows.gif Size: 28 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #632
  • Feb 7, 2012 11:00am Feb 7, 2012 11:00am
[IMG]http://s8.postimage.org/v67l0y99t/setup1.jpg[/IMG]

Fractal has been broken, thus we go long ?
or should wait till candle close and next candle to open?

Thanks !
  • #633
  • Feb 7, 2012 11:04am Feb 7, 2012 11:04am
Looking at some of the recent patterns and especially EU, it woud be of no surprise if the current 2/7 candle is a false set up. I am sitting back and still watching this one, but the typical pattern is for a large bull candle followed by an engulfing bear candle and then followed by a bear run.

Currently I see 1.3200 as a major resistance with more possibility of a bear move than anything else.

Of course, these are purely my thoughts - but severe caution with anyone looking to go long until this confirms as a breakout to the up side!

As usual - all thoughts are welcome.
"To live with Passion, it takes Courage and Grace to survive"
  • #634
  • Feb 7, 2012 12:10pm Feb 7, 2012 12:10pm
Quoting Britpip7
Looking at some of the recent patterns and especially EU, it woud be of no surprise if the current 2/7 candle is a false set up. I am sitting back and still watching this one, but the typical pattern is for a large bull candle followed by an engulfing bear candle and then followed by a bear run.

Currently I see 1.3200 as a major resistance with more possibility of a bear move than anything else.

Of course, these are purely my thoughts - but severe caution with anyone looking to go long until this confirms as a breakout to the up side!

As...
I would have to agree with you Britpip, caution is key,
I have a major trend line at 1.3238 ( 1/1/1991 monthly swing high close )
I would like to see the daily bar of EURUSD close above this, and use it as support.

Ja.
Memories caught in time but never forgotten
  • #635
  • Feb 7, 2012 5:15pm Feb 7, 2012 5:15pm
IMHO all entry rules applied.
Plus TDI is past upper blue band, which is a buy trigger (right?)
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (Daily) 3-6-2011 - 8-2-2012.png Size: 80 KB
Financial independence is what I live for
  • #636
  • Feb 7, 2012 6:36pm Feb 7, 2012 6:36pm
Quoting smatthew
IMHO all entry rules applied.
Plus TDI is past upper blue band, which is a buy trigger (right?)
Interesting comment on the TDI crossing the upper band - 2 entries on this trend - initial TDI cross and on the initial cross of the upper band.

Not sure I see an additional TDI entry but I will check my charts later - still suffering technology issues!

Possible additional entry after closing above the 200EMA if supported by ongoing PA
"To live with Passion, it takes Courage and Grace to survive"
  • #637
  • Feb 7, 2012 8:13pm Feb 7, 2012 8:13pm
If there EUR/JPY can get above the resistance level at around 102.25 there maybe a good entry if the current or next candle can get there.
  • #638
  • Feb 7, 2012 11:14pm Feb 7, 2012 11:14pm
Quoting smatthew
IMHO all entry rules applied.
Plus TDI is past upper blue band, which is a buy trigger (right?)
Here's my GU Day chart - TDI seems to be different from your chart - which version of TDI are you using?

Comments on this chart -Resistance at 1.5900 currently holding - will depend on 2/8 candle

Candle High for 2/6 is 1.5904
Candle Close for 2/6 is 1.5889 and is above 200EMA and angle of 5EMA is good.

Previous Fractal High was 1.5881 on 2/1

Entries around the Big Round Numbers are not usually my favourite so I'll sacrifice 15 or 20 pips especially when there is a fractal really close by. This means that the GU with the Fractal on 2/1, my entry would sit at 1.5920.

If this price is hit, the TDI will probably break the Upper Band again. With entries at this level of TDI, it really is in the overbought area. When the upper band is at a lower level - a cross to the upside is good entry - not so sure at the current levels.

This is a pattern/scenario for this pair that can be looked at with some back testing to see how often you get a TDI entry with a cross of the upper band holding a value of 70+.

My assessment for this pair is that this is a lower probability entry. LO will determine the outcome so best of luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 2-7-2012.gif Size: 30 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #639
  • Feb 7, 2012 11:23pm Feb 7, 2012 11:23pm
Quoting FXBackTest
If there EUR/JPY can get above the resistance level at around 102.25 there maybe a good entry if the current or next candle can get there.
there is an additional level at 102.50 but set up is looking good.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 2-7-2012.gif Size: 27 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #640
  • Feb 8, 2012 1:13pm Feb 8, 2012 1:13pm
Quoting Britpip7
Here's my GU Day chart - TDI seems to be different from your chart - which version of TDI are you using?

Comments on this chart -Resistance at 1.5900 currently holding - will depend on 2/8 candle

Candle High for 2/6 is 1.5904
Candle Close for 2/6 is 1.5889 and is above 200EMA and angle of 5EMA is good.

Previous Fractal High was 1.5881 on 2/1

Entries around the Big Round Numbers are not usually my favourite so I'll sacrifice 15 or 20 pips especially when there is a fractal really close by. This means that the GU with the Fractal on...
When I woke up 12 hours ago to go to work, I saw your reply.
I realized I had overlooked the fact that TDI was already well into the overbought zone.
Looking to the left seems to apply to indicators as well...

I immediately decided to close the trade at +6
Good thing I did cause PA reversed and I'd be looking at -100 by now...

I've attached my TDI settings.
Attached Image (click to enlarge)
Click to Enlarge Name: TDI settings.PNG Size: 41 KB
Financial independence is what I live for
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