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  • #4,281
  • Feb 12, 2012 5:09am Feb 12, 2012 5:09am
Looks like EU is in a position to move upward Monday.

Price looks poised to bounce off the 200ema.

TDI in oversold area.

Price action will show us the way!
  • #4,282
  • Feb 12, 2012 5:17am Feb 12, 2012 5:17am
Quoting j4d
Hi Emmanuel7788,

Thats a great question......... personally I think most Institutional FX traders use the index as a USD dollar strength meter, ie if the index is struggling to break through resistance and looking to correct/turn you could
use this info with some pairs as maybe a turning point is imminent..

I'm sure Erebus being a straight to the point person will correct me if he
thinks differently ! LOL..

This is in line with what is called risk on/risk off trading....

EURUSD... I look at this pair as a strength meter, if like last week
(...
Thanks Ja.
I like your ramble. ...its educational.

Cheers!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,283
  • Feb 12, 2012 5:18am Feb 12, 2012 5:18am
Quoting Quezoy
j4d, there are several currency strenght meters, popular is one made by hanover, but I prefer something like that:

http://www.forexstrategiesresources....trength-index/
Thanks Quezoy,

never knew such a nice tool !

Cheers!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,284
  • Feb 12, 2012 5:25am Feb 12, 2012 5:25am
glad you like it.

This one is a bit better, but you have to register: http://www.fxmri.com/
Inserted Video


Some people use this all the time. I somehow couldnt get the hold of it...
Thoughts are things
  • #4,285
  • Edited 5:42am Feb 12, 2012 5:26am | Edited 5:42am
Hi Everyone,

This week 06 was good week for intraday trading. PA works great all the time, and with S3 as my 'filter', it sure gave me more confidence with my entries.

My trades post mortem in the attached pdf.

As already pointed out by Erebus in post#4271, there is divergence to content with. Also the 3-wave correction potential.

Get yourself prepared for another super week.

Good trading to you all next week.
Attached File(s)
File Type: pdf EURUSD Big Picture week 07.pdf   535 KB | 943 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,286
  • Feb 12, 2012 5:41am Feb 12, 2012 5:41am
Quoting hale-mary
Looking at these two areas are some of the problems I am having.

I have looked at phx62 older posts and seen him tackle these types of situations when price has insane daily range like 200 pips or more.

I am not sure what to do or look at when price goes 90 pips or more before london opens. Entering these areas seems a bit late and kind of guessing. And most of the time when price moves 90 pips or move I am not sure if it will continue to move or range out.

In hindsight these would have been good buys but when you see price has moved 100...

Hi HM,

Not to repeat some of those things I already mentioned in past posts.

But you need to look at the way you manage your trades. Do you have a trade management method in your trading plan? If you have one and that definitely is not working for you right now.

Jumping in and out of trades is also not a good trading habit. Just like having clearly defined trade setups, we must also have clearly defined 'setup conditions' where we will use to invalidate our trades after entry. We must always give time our trades to work itself before we jump out at the sight of what we think ugly looking candles. There must be setups to invalidate our trades and for us to plan our exits as per our trading plan.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,287
  • Feb 12, 2012 5:48am Feb 12, 2012 5:48am
Quoting Quezoy
glad you like it.

This one is a bit better, but you have to register: http://www.fxmri.com/
http://www.youtube.com/watch?v=R5GK_wvSZ0M

Some people use this all the time. I somehow couldnt get the hold of it...
Good shout Quezoy.......Thank You

Ja.
Memories caught in time but never forgotten
  • #4,288
  • Feb 12, 2012 5:57am Feb 12, 2012 5:57am
Quoting jasonnevis
Looks like EU is in a position to move upward Monday.

Price looks poised to bounce off the 200ema.

TDI in oversold area.

Price action will show us the way!

Hi Jason,

You are correct PA will show us the way.

Price Action are like the stars in the sky. In order for us to see them, the sky must be dark enough...

Learn the TDI behaviour well, it is based on RSI period 13. So always look back the last 13 price candles while moving forward. You will learn how oscillatar signal can fade away in time without giving you a profitable trade.

Good Trading mate!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,289
  • Feb 12, 2012 8:01am Feb 12, 2012 8:01am
Quoting Boston Pips
Hello X-Man,

I am a big fan of the TMS system and have read through the entire thread and I am very excited to have caught this one from the beginning. I am looking forward to becoming a part of this from the start. I have been studying the Forex for many years, though not as a professional trader. I have made every noob mistake in the book...twice. I have developed a very sound MM plan and set some very solid goals for myself that span the next five years and between the TMS system and this one, I think I have found the remaining peices of...
Hey Boston pips
What area of Boston do you reside. i'm in Rockland about 25 min south.
  • #4,290
  • Feb 12, 2012 10:30am Feb 12, 2012 10:30am
Hello guys, could anyone please confirm my understanding of the swing H4 method as follows?

I have studied the TMS before and know that this is a refined method from that one. My big confusion is in how we get out the trade. So, I post here four charts that will help me understand the method better. Thanks anyone for answering!

1. In the rule, it was said that we should go long when the price is above 60 EMA. However, the price in E/U was at the very top of the shi channel (on daily TF - which X-man suggested to use and I assume that like other concepts in technical analysis, higher TF values of any indis are more important and reliable). So, in retrospect, it would be fine to take this trade right? (at the red vertical line)

In the first few posts, it was suggested that we should hold it until it touches the channel at the other end (til the bottom here). Would it be intuitively challenging to expect that in this case though (with the daily shi, which is much wider than the 4H shi channel)? In this particular case, would it be better to get out at the touch of 60 EMA instead?

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 174 KB


2. For GBP/USD, it's similar, but I have another specific question regarding this. Per the above assumption, should we ride it down until it touched the 60 EMA, instead of looking into the TDI and thinking that the green is turning back up, thus getting out of the trade after only one series of red bars (instead until the end of the week)??

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 170 KB


3. For USD/JPY, at first glance, this is a better setup than the previous two, because the price is at the top of the shi channel AND the TDI is also in the overbought area. However, the price is currently above the 60EMA, which suggests to go long instead. You see, my problem now is to prioritize what I should trust the most between shi channel, TDI, and the EMA?

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 172 KB


Thanks a lot!
  • #4,291
  • Feb 12, 2012 10:35am Feb 12, 2012 10:35am
Hi again, I tried to post another chart but I wasn't allowed as a junior member. So I hope you don't mind looking at the last series of red bars in NZD/USD...

4. NZD/USD is included to just confirm that I understand correctly for the obvious one... If I chose to trade at the last TDI cross, I should go out when it touched the 60 EMA, right? This is because it didn't follow the rules in the first place (not at the very top of the channel and the price was above 60EMA). Moreover, TDI confirmed that it should go back up soon because not only it was in the oversold, but also it broke the blue band..

Thanks a lot!
  • #4,292
  • Feb 12, 2012 11:06am Feb 12, 2012 11:06am
Hi all here's a quote I found.....

"Obstacles cannot crush me. Every obstacle yields to stern resolve."
-- Leonardo da Vinci, Artist

Conviction strengthens resolve and S3 certainly lends conviction that we can make it to the top 5% of this industry.
I'm aiming at top 3%.
Let it turn and find your entry.
  • #4,293
  • Feb 12, 2012 4:33pm Feb 12, 2012 4:33pm
OK.......Getting back to the order flow thingy....

We all agree PA is king right, PA does not exist without Order flow..

I found this video, I think Sam explains supply and demand zones/ levels
quite well, for some of you newbie's who don't get it, bookmark it
and watch it as you progress.....

http://transcripts.fxstreet.com/2008...what-is-r.html

As I find "stuff" on this i'll post, so its there if you want it..


Everyone have a great week trading...

Ja.
Memories caught in time but never forgotten
  • #4,294
  • Feb 12, 2012 4:45pm Feb 12, 2012 4:45pm
I know that we are not suppose to trade in the asian session as far as the system rules go....but we have been seeing some nice moves lately.

Did anyone catch the large move up just now?
  • #4,295
  • Feb 12, 2012 5:30pm Feb 12, 2012 5:30pm
Quoting jasonnevis
I know that we are not suppose to trade in the asian session as far as the system rules go....but we have been seeing some nice moves lately.

Did anyone catch the large move up just now?
Hi jasonnevis,

That was not big move up. ASX open much earlier and your local broker may have different bid/ask.
It's huge 60+pips gap up when NY reopen at GMT2300 (ibfx US).
Lesson for newbies is to careful when leaving open position over the weekend. There is no gaurantee that your tight stops willbe executed at your price when such gap occurs.

This huge gap is an opportunity to start Monday trading.

Trade with Care!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,296
  • Feb 12, 2012 6:03pm Feb 12, 2012 6:03pm
Quoting emmanuel7788
Hi jasonnevis,

That was not big move up. ASX open much earlier and your local broker may have different bid/ask.
It's huge 60+pips gap up when NY reopen at GMT2300 (ibfx US).
Lesson for newbies is to careful when leaving open position over the weekend. There is no gaurantee that your tight stops willbe executed at your price when such gap occurs.

This huge gap is an opportunity to start Monday trading.

Trade with Care!
Hey Emmanual, when looking at the synergy bars I can't see the gap... what are you looking at to see the gap?

Made some nice pips off this trade so far
  • #4,297
  • Feb 12, 2012 6:25pm Feb 12, 2012 6:25pm
Quoting jasonnevis
Hey Emmanual, when looking at the synergy bars I can't see the gap... what are you looking at to see the gap?

Made some nice pips off this trade so far
Hi Jasonnevis,

you must look at the true price bar/candle OHLC.
APB only shows HA calculated its ohlc values using formula. This overlay the true price bar/candle (depend on how you setup your charts).

If you want to see the true price bar on in the foreground so that it will shown in front of the APB candles. Go to the chart properties or press F8.

see chart attached!
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,298
  • Feb 12, 2012 6:37pm Feb 12, 2012 6:37pm
Quoting emmanuel7788
Hi Jasonnevis,

you must look at the true price bar/candle OHLC.
APB only shows HA calculated its ohlc values using formula. This overlay the true price bar/candle (depend on how you setup your charts).

If you want to see the true price bar on in the foreground so that it will shown in front of the APB candles. Go to the chart properties or press F8.

see chart attached!
Ok yes I can see what you mean, however my charts don't look the same when I view actual price bars. No gap present...
Attached Image (click to enlarge)
Click to Enlarge Name: New Bitmap Image.gif Size: 12 KB
  • #4,299
  • Feb 12, 2012 7:01pm Feb 12, 2012 7:01pm
Quoting jasonnevis
Ok yes I can see what you mean, however my charts don't look the same when I view actual price bars. No gap present...
Small gap on your chart (7 pips or so). Broker opened for business at 9 am eastern time.
Broker opening up at 10 am had a 40+ pip 'gap'. That wasn't really a gap, it was live trading.
  • #4,300
  • Feb 12, 2012 7:40pm Feb 12, 2012 7:40pm
Quoting Gwsands
Small gap on your chart (7 pips or so). Broker opened for business at 9 am eastern time.
Broker opening up at 10 am had a 40+ pip 'gap'. That wasn't really a gap, it was live trading.

yes, it is 24hours x 5days live trading....newbies remember this.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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