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Extreme TMA System

  • #2,121
  • Mar 1, 2012 12:17am Mar 1, 2012 12:17am
Quoting Alorente
In Short UsdChf at resistance.
The reason I took this trade is because it was at R1 but most important, because I saw Usd weakening against the Jpy, so even though I didnīt have a red candle, I did have one in UsdJpy. Always keep an eye on what other similar pairs are doing before entering a trade. Sometimes you get a head start of a minute or two by doing that. Always do it with Usd pairs and Eur pairs. It works beautifully.
Observation is the path to discovery.
  • #2,122
  • Mar 1, 2012 12:20am Mar 1, 2012 12:20am
Quoting Alorente
The reason I took this trade is because it was at R1 but most important, because I saw Usd weakening against the Jpy, so even though I didnīt have a red candle, I did have one in UsdJpy. Always keep an eye on what other similar pairs are doing before entering a trade. Sometimes you get a head start of a minute or two by doing that. Always do it with Usd pairs and Eur pairs. It works beautifully.
Fascinating, so much to learn.
  • #2,123
  • Mar 1, 2012 12:21am Mar 1, 2012 12:21am
Quoting normtold
Fascinating, so much to learn.
You could see the same happening on GbpUsd and AudUsd. When one starts , the others usually follow.
Observation is the path to discovery.
  • #2,124
  • Mar 1, 2012 12:22am Mar 1, 2012 12:22am
Quoting Alorente
You could see the same happening on GbpUsd and AudUsd. When one starts , the others usually follow.
UsdCad also.
Observation is the path to discovery.
  • #2,125
  • Mar 1, 2012 12:27am Mar 1, 2012 12:27am
Quoting Alorente
The reason I took this trade is because it was at R1 but most important, because I saw Usd weakening against the Jpy, so even though I didnīt have a red candle, I did have one in UsdJpy. Always keep an eye on what other similar pairs are doing before entering a trade. Sometimes you get a head start of a minute or two by doing that. Always do it with Usd pairs and Eur pairs. It works beautifully.
The tip I just gave you applies to exiting also. If you are in a Usd or Eur position and you see the other freternal pairs starting to turn, you should consider exit even if your pair is still going.

This is one of the reasons why it is very important to have 18 charts on two screens. To get an overall picture of what is happening. This applies to Gbp pairs and Aud pairs also.
Observation is the path to discovery.
  • #2,126
  • Mar 1, 2012 12:28am Mar 1, 2012 12:28am
Quoting Alorente
In Short UsdChf at resistance.
Does the up coming news regarding CHF affect this decision?
  • #2,127
  • Mar 1, 2012 12:28am Mar 1, 2012 12:28am
Quoting Alorente
You could see the same happening on GbpUsd and AudUsd. When one starts , the others usually follow.
I was just going to ask before you posted about that.

You noticed USD/JPY had 3 red HA candles so jumped in early with a short on USD/CHF that has hit R1 3 times so a possible fall in on the cards.

I then checked AUD/USD 3 red HA candles hit support (well above the S1 though) then a blue HA candle, I was going to ask if EUR/USD would be a possible long especially as 3 HA candle wicks have stopped at same place. TMA slope rising.

GBP/USD turned too but no trade as price was inside TMA.
  • #2,128
  • Mar 1, 2012 12:29am Mar 1, 2012 12:29am
It looks like the place to short AudNzd will be at R3.
Observation is the path to discovery.
  • #2,129
  • Mar 1, 2012 12:30am Mar 1, 2012 12:30am
EURJPY testing S2 with TMAslope of -0.20 and started raising, would this be a pair to keep an eye on?

Also EURUSD tested S1 4 bars and now HA turned blue, price going up as I am typing this so I think I might have been a little too late.
  • #2,130
  • Mar 1, 2012 12:30am Mar 1, 2012 12:30am
AudNzd

AudJpy
Observation is the path to discovery.
  • #2,131
  • Mar 1, 2012 12:33am Mar 1, 2012 12:33am
Quoting SnailRoll
Does the up coming news regarding CHF affect this decision?
No. I donīt trade the news. Just the technicals.
Observation is the path to discovery.
  • #2,132
  • Mar 1, 2012 12:34am Mar 1, 2012 12:34am
Out of UsdChf at center line for a quick +18 pips
Observation is the path to discovery.
  • #2,133
  • Mar 1, 2012 12:37am Mar 1, 2012 12:37am
Quoting Alorente
Out of UsdChf at center line for a quick +18 pips
The reason I exited at centerline is UsdJpy was also weakening and I feel the Usd is strong right now. Going to the opposite band was too optimistic. It may do it, but as they say in Spain:

A bird in the hand is worth more than 2 in the air.
Observation is the path to discovery.
  • #2,134
  • Mar 1, 2012 12:38am Mar 1, 2012 12:38am
Hi Al,

Do you use the midpoints?

Cheers,

Eamonn.
  • #2,135
  • Mar 1, 2012 12:39am Mar 1, 2012 12:39am
Quoting Alorente
The reason I exited at centerline is UsdJpy was also weakening and I feel the Usd is strong right now. Going to the opposite band was too optimistic. It may do it, but as they say in Spain:

A bird in the hand is worth more than 2 in the air.
I also like to get my first profitable trade of the day in the books, to get the day started in the right direction. You would not believe how important that is psychologically when you do it every day.
Observation is the path to discovery.
  • #2,136
  • Mar 1, 2012 12:42am Mar 1, 2012 12:42am
Quoting Eamonn
Hi Al,

Do you use the midpoints?

Cheers,

Eamonn.
No. You should get right of the midpoints, yesterdayīs high and low, monthly high and low, weekly high and low and Camarillas. You can leave todayīs open because price likes to retrace to the open especially on gap opens. All the rest just clutter your charts.
Observation is the path to discovery.
  • #2,137
  • Mar 1, 2012 12:43am Mar 1, 2012 12:43am
Quoting Alorente
It looks like the place to short AudNzd will be at R3.
I placed a sell stop on that one at the R2 pivot just in case it turns back before R3, if it touches R3 then I will change the order.
  • #2,138
  • Mar 1, 2012 12:43am Mar 1, 2012 12:43am
hi al

in this picture in eurusd i should wait that tma slope histogram bar be green for buy entry? when i see that green i long or wait candle closed?

thanks.

Attached Image (click to enlarge)
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  • #2,139
  • Mar 1, 2012 12:44am Mar 1, 2012 12:44am
Quoting Alorente
Out of UsdChf at center line for a quick +18 pips
So fast, I don't know how you keep an eye on everything.

I will keep mine open because TMA is at zero now but moved to BE.

I am sure I will regret my decision to keep it open
  • #2,140
  • Mar 1, 2012 12:47am Mar 1, 2012 12:47am
Quoting amiralifx
hi al

in this picture in eurusd i should wait that tma slope histogram bar be green for buy entry? when i see that green i long or wait candle closed?

thanks.

Attachment
You can take the trade right there because Usd was already weakening in other currencies. Donīt get fixated on one pair. Always scan to all the other pairs to get a full picture of what is happening.
Observation is the path to discovery.
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