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  • #5,701
  • Feb 29, 2012 12:47am Feb 29, 2012 12:47am
The above is the most obvious one for me - there are some others too that are less different than this, but still different.

Quoting nnpra
Hi,

Just think this may be useful to pass along. I just tried to switch my demo from FXCM (demo MT4 of FXCM is a crap right now and they are aware of it - the live one seems fine though) to trading-point. I could not just save a template file from FXCM and use it on trading-point so I manually inserted indicators again.

Then I found that shi channel was painted differently. Recall that ljin said here yesterday that his daily channel on EURUSD was down, while mine (FXCM) was up. Now I get a down one from Trading point.

So, I just show you guys...
  • #5,702
  • Feb 29, 2012 12:56am Feb 29, 2012 12:56am
Hi,

Another trade I took yesterday. Same entry using chart pattern (double tops) as my additional setup filter.
Entry was done in H1 but this trade was intended to be a short term swing. After the recent rally from week 07 low, price consolidates. I try to catch the early retracement.
Final TP is fib-r 0.83900.

Weekly pivot 0.8443 may be show stopper this week.
Anyway trade is BE protected. So let it run.

Regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP 28 Feb Trade 29-2-2012 2-41-57 PM.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,703
  • Feb 29, 2012 1:16am Feb 29, 2012 1:16am
Quoting sherryvg
hi Xman .I live in JHB South Africa .I am trying to learn how to trade .Have done Knowledge to action 2 day course, I work almost fulltime , so I struggling to find consistency .
would be perpared to sit with me so I can watch what you do ?As we both live in JHB .I am married !
Nice !!!!


You're the man X-Man !!!

PEACE !!!!!
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #5,704
  • Feb 29, 2012 1:24am Feb 29, 2012 1:24am
Quoting emmanuel7788
Hi,

Another trade I took yesterday. Same entry using chart pattern (double tops) as my additional setup filter.
Entry was done in H1 but this trade was intended to be a short term swing. After the recent rally from week 07 low, price consolidates. I try to catch the early retracement.
Final TP is fib-r 0.83900.

Weekly pivot 0.8443 may be show stopper this week.
Anyway trade is BE protected. So let it run.

Regards,
Wow Emmanuel, as usual very informative and very nice set-up you got there. You've got all sorts of PA continuation signals there. I bet at least a 100pips for you on this one!
You're one good trader man!

BTW, are you a full time trader like X-Man?
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #5,705
  • Feb 29, 2012 1:24am Feb 29, 2012 1:24am
Quoting emmanuel7788
Hi,

Another trade I took yesterday. Same entry using chart pattern (double tops) as my additional setup filter.
Entry was done in H1 but this trade was intended to be a short term swing. After the recent rally from week 07 low, price consolidates. I try to catch the early retracement.
Final TP is fib-r 0.83900.

Weekly pivot 0.8443 may be show stopper this week.
Anyway trade is BE protected. So let it run.

Regards,
Hi Emmanuel7788,

Thanks for posting this chart and your NZDUSD trade, showing how you used double tops as a filter. Many of us can learn a lot from these - it's important to keep watching for clear chart formations like these to support pullback bars, TDI crosses etc.
Right now we have a double top formed on EURUSD (to within a pip) at 1.3485 - something to watch when looking at setups today.
  • #5,706
  • Feb 29, 2012 1:34am Feb 29, 2012 1:34am
Hi ALL,

here is my review and update on EURUSD.
I thought this is important and also timely as today is the last day for this nice Feb month.
Also mid week, so this W1 candle stiil have 2 more days to go before we see it close.
But the MN candle will close today, and tomorrow is beginning of new MN candle.
These TF charts tell me how to plan for next month positions.

If anyone interested to do monthly planning, please analyse your charts and post them with your planning thoughts.

Intraday trading also require you to do Big Picture planning. This is one way when you can catch a good entry on H1 and let it run for days and maybe 2~3 weeks when you are caught in a big move trend. But only a proper tested Trade Management method with SMART Money Management will help you 'Let Profit Run' and maximise profit.

Good Trading day ahead everybody.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 29 Feb week 09 view 29-2-2012 3-08-04 PM.png Size: 118 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,707
  • Feb 29, 2012 1:48am Feb 29, 2012 1:48am
Quoting Awin
Wow Emmanuel, as usual very informative and very nice set-up you got there. You've got all sorts of PA continuation signals there. I bet at least a 100pips for you on this one!
You're one good trader man!

BTW, are you a full time trader like X-Man?

Hi Awin,

yes, I am a fulltime trader and love everyday doing it. So much to learn and at the same time the market pays me.

Price action trading requires traders to have good knowledge of candle patterns and charts patterns. We only need to know a few common ones and apply them when looking for trade setups.
What is more important is that traders must use these patterns consistently and with own set of disciplined rules.
It is simple, but not easy. Needs lots of screen hours - practice, practice, practice.
It is Deep Practice that will make things near perfect - read Daniel Coyle' book title the Talent Code.

I will try find time post some trade setups using candle and chart patterns. Hope some of you will also leanr this too and post your trades so that people here will share from their own experience too.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,708
  • Feb 29, 2012 1:57am Feb 29, 2012 1:57am
Hi emmanuel7788
Yes I completely agree with emmanuel, for the EU for H4 and also there is very strong divergance on TDI !
  • #5,709
  • Feb 29, 2012 2:01am Feb 29, 2012 2:01am
Hi ALL,

here is one good Chart School where you can learn the basics of Candle patterns and Chart patterns.

http://stockcharts.com/school/doku.p...chart_analysis

Know them, pick any five each and practice them while you are trading.

More than five each I cannot handle. I get brain freeze.

Enjoy!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,710
  • Feb 29, 2012 2:06am Feb 29, 2012 2:06am
Quoting emmanuel7788
Hi ALL,

here is my review and update on EURUSD.
I thought this is important and also timely as today is the last day for this nice Feb month.
Also mid week, so this W1 candle stiil have 2 more days to go before we see it close.
But the MN candle will close today, and tomorrow is beginning of new MN candle.
These TF charts tell me how to plan for next month positions.

If anyone interested to do monthly planning, please analyse your charts and post them with your planning thoughts.

Intraday trading also require you to do Big Picture planning....
Well, I don't have the picture to post, however ....
Monthly chart is a long way from H1 trading, but we are now at 38.2% retracement of the last run down May 2011 to Jan 2012, so maybe we will see some resistance here.
Also we are just above the 50% retracement on the weekly chart for 23 Oct to 8 Jan.
And we have our double top on H4 and H1.
  • #5,711
  • Feb 29, 2012 2:19am Feb 29, 2012 2:19am
Quoting emmanuel7788
Hi Awin,

yes, I am a fulltime trader and love everyday doing it. So much to learn and at the same time the market pays me.

Price action trading requires traders to have good knowledge of candle patterns and charts patterns. We only need to know a few common ones and apply them when looking for trade setups.
What is more important is that traders must use these patterns consistently and with own set of disciplined rules.
It is simple, but not easy. Needs lots of screen hours - practice, practice, practice.
It is Deep Practice that will make...
Hi Emmanuel,

First, I really like your name. It well describes your character of generosity and humility. Your play of words can only come from a well experienced, knowledgeable and seasoned trader.

This thread has become an invaluable resource for each and every trader of all size because of contributors like you.

Thanks for the advise about Daniel Coyle's book. I bet it's a good read.

BTW, did you become a full time trader by choice or by necessity?

Would you actually recommend to one, who's thinking of leaving his day job to become a full time trader? Your thoughts will be highly appreciated.
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #5,712
  • Feb 29, 2012 2:20am Feb 29, 2012 2:20am
Quoting Flatrader
Thank you X man for explaining that & using such a great example. Now which candle on the E/U 1 hr chart would you enter on? The start of 17:00? This is my first post with you, but I have been following the thread for a few months. I am trying to get this system down & start making pips! Thanks again
when you see candles like that i would enter on the open of the very next candle. so if that candle happened at 15:00 i would enter long on the 16:00.
X-man the legendary conqueror of markets
  • #5,713
  • Feb 29, 2012 2:34am Feb 29, 2012 2:34am
Quoting emmanuel7788
Hi Jamauqui,
sorry, I hvae not found a APB version on TS.
The is the heiken ashi HA in the standard indicators.
You can use that..

Regards,
The Heiken Ashi indicator works fine on Trading Station, just installed it.

Looking good, yesterday I got the TDI indicator on TS and now HA candles
  • #5,714
  • Feb 29, 2012 2:40am Feb 29, 2012 2:40am
Quoting Steve 56
X-Man, I agree with Emmanuel7788 comments re the Video wholeheartedly. In fact I suggest you put The "The Wrong Questions" Video on YOUR first page next to Ricks Link, as required reading. It covers so many Queries and Questions that Newbies, should be aware of, before tackling the Thread and might quell the myriad of "same" Questions that ultimately follow. And it is also a refresher to us Oldies as well.







9 Years and Still Learning.
thats in fact a brilliant idea. I wil do that.
Thanks for the idea buddy
X-man the legendary conqueror of markets
  • #5,715
  • Feb 29, 2012 2:52am Feb 29, 2012 2:52am
Quoting sherryvg
hi Xman .I live in JHB South Africa .I am trying to learn how to trade .Have done Knowledge to action 2 day course, I work almost fulltime , so I struggling to find consistency .
would be perpared to sit with me so I can watch what you do ?As we both live in JHB .I am married !
I also went for that seminar knowledge to action. those guys are a bunch of pricks that just want peoples money.

They selling their system for R40 000. what kind of rip off is that.
then when you go for the seminar they show you how you can make $20 000 in 4 minutes. what kind of illusion they play with people. People get carried away by that.
But they dont tell you that prick is trading 100 standard lots and made each pip worth $1000. so he just makes 20pips.

I can tell you now my system works 100 times better than the system they selling.

They charge so much coz they know their system is a bunch of bull.
X-man the legendary conqueror of markets
  • #5,716
  • Feb 29, 2012 2:54am Feb 29, 2012 2:54am
This thread is amazing thank you to everyone who contributes and especially x-man and big e.

Here is what I have would love to know peoples thoughts and critique sorry they are regular candles I do find it easier for the overview:

H1: The TDI had a tweak looked like it could be a move down but it can't close below this H1 trend line in blue it also formed a double top at the end of the asian session. if it does break below it could be a move down to the orange line which is a daily S/R line at 1.3417

H4 is looking bearish with the double top and divergance on the MACD next candle could be interesting and a strong x-over to the downside from the 68 level.

Daily I've got it approaching a daily trend line in orange and at the top range of the TDI could be looking for a move down from this level through the next few days.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: H1.JPG Size: 132 KB
Click to Enlarge Name: H4.JPG Size: 136 KB
Click to Enlarge Name: daily.JPG Size: 158 KB
  • #5,717
  • Feb 29, 2012 2:55am Feb 29, 2012 2:55am
Quoting Awin
Nice !!!!


You're the man X-Man !!!

PEACE !!!!!
Awin Behave hahaha !!!!
X-man the legendary conqueror of markets
  • #5,718
  • Feb 29, 2012 3:01am Feb 29, 2012 3:01am
Quoting X-Man
I also went for that seminar knowledge to action.
Lol so did i, i attended the course in london last october/november
  • #5,719
  • Feb 29, 2012 3:01am Feb 29, 2012 3:01am
If it does move north the big test today should be 1.3487 last weeks high if that fails to hold then the daily trend line will come into play around the number 1.3500 where apparently lots of stops lay above that level so if it breaks could be a strong move to the upside.
  • #5,720
  • Feb 29, 2012 3:04am Feb 29, 2012 3:04am
By the way im holding short on E/U.
Pa shows me a double top while the TDI shows me a lower high. (bearish divergance)
Stay alert theres lots of news today
X-man the legendary conqueror of markets
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