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Super Simple System for Scalping 179 replies

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 180 replies

Super Simple System 314 replies

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X-Man's super simple system 4 hour method 1 reply

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X-Man's Super Simple System

Quoting IenDzi
Here it is.
Thanks ...thank you very much
And thanks to X Man...sorry for my english
With the limited time I had this morning I managed to assess PA (my view of course).I've seen regular bullish divergence on price and Green price line of TDI(oscillator) and there was also a cross of green & red.
My target was 23.6 fib retracement for TP which was hit after I've reached my office.
The trend line says bearish but we always need to take in consideration retracements after a quite serious trendy move.

green pips.
Hi,

It is s quiet Monday, ...so be patient.
I am waiting for a goor bar/candle pattern setup for a possible buy trade.
This may not happen today, so be very patient and look for a high probability setup entry with a small initial risk to play with.

rgds
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week11 12 Feb 12-3-2012 6-13-23 PM.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Anyone else still long on E/U.

Entered a little late on the 15M time frame, I was thinking since Friday had such a big move that Monday may just range.

In @ 1.30991

Not sure if it will hit 50 pips at the moment.

SL set to BE

CM
havent enter any trade . still watching price movement and will jump if i see good setup otherwise will hold my trade until tomorrow.
Quoting CodeMonster
Anyone else still long on E/U.

Entered a little late on the 15M time frame, I was thinking since Friday had such a big move that Monday may just range.

In @ 1.30991

Not sure if it will hit 50 pips at the moment.

SL set to BE

CM
I'm LONG too CodeMonster, but I came in a candle after LO...hopefully it reaches the DPV...

In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
is this going to be a boring monday?
Hey gang,

Quick question, I decided to go long on the G/U this morning and it ended up reversing on me. I'm not bemoaning the loss, rather just looking to see if you guys marked that one as a no entry, and why? Was that an example of a textbook setup that sometimes doesn't go our way, or did I miss any analysis that you more experienced guys saw to warrant a wait?

Thanks for thoughts!

Lan
Attached Image (click to enlarge)
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I went ahead and closed my E/U trade.

Exited at 1.31246
Pips = + 25.5

Hopefully tomorrow there will be a definitive direction early on.

CM
Quoting Lancaster
Hey gang,

Quick question, I decided to go long on the G/U this morning and it ended up reversing on me. I'm not bemoaning the loss, rather just looking to see if you guys marked that one as a no entry, and why? Was that an example of a textbook setup that sometimes doesn't go our way, or did I miss any analysis that you more experienced guys saw to warrant a wait?

Thanks for thoughts!

Lan
I see a H&S just before the last spike. That would be a superb point to go short. Going long after H&S is not savvy imho.
Quoting Lancaster
Hey gang,

Quick question, I decided to go long on the G/U this morning and it ended up reversing on me. I'm not bemoaning the loss, rather just looking to see if you guys marked that one as a no entry, and why? Was that an example of a textbook setup that sometimes doesn't go our way, or did I miss any analysis that you more experienced guys saw to warrant a wait?

Thanks for thoughts!

Lan

both the weekly and daily candles closed very bearish.
so expect some follow through early today and also this week.
it would take a very strong buyers interest to cause a strong reversal today.
although on H4, the S3 setup is there, but there is conflict at higher TFs, the PA on higher TF did not support this setup.

better to wait for a reversal and confirm with HH HL, if you want to go long on this pair.

looking for breakout of previous week low was a better sell trade setup to look for under these conditions.

same for tomorrow, depends on the range today, if there is a breakout of today' high can be a setup for tomorrrow buy trade. Today' high is not this week' high yet.

but be mindful of the weekly pivot 1.5718 above.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
I see a LL divergence of price action and flat on the bottom of the TDI. TDI also in 32 already which is over sold. My take on it is to go long.

Your probably just being tested?

It also has to retest the 200MA to confirm then break again bottom support to go down.

Thats my take on it. But difficult trading today, no clear direction.

Quoting Lancaster
Hey gang,

Quick question, I decided to go long on the G/U this morning and it ended up reversing on me. I'm not bemoaning the loss, rather just looking to see if you guys marked that one as a no entry, and why? Was that an example of a textbook setup that sometimes doesn't go our way, or did I miss any analysis that you more experienced guys saw to warrant a wait?

Thanks for thoughts!

Lan
Zulu could you help me, I'm not seeing the H&S on 4H G/U chart?

And in your opinion it was a strong sell setup this morning?

I figured:

1. daily channel was long
2. PA resting on bottom of channel along with the weekly support2
3. TDI was oversold and green was crossing red just below the 32
4. Horizontal line showed 2 clear support levels in recent history

As always thoughts, opinions, and assistance are greatly appreciated.

Lan
Quoting Lancaster
Hey gang,

Quick question, I decided to go long on the G/U this morning and it ended up reversing on me. I'm not bemoaning the loss, rather just looking to see if you guys marked that one as a no entry, and why? Was that an example of a textbook setup that sometimes doesn't go our way, or did I miss any analysis that you more experienced guys saw to warrant a wait?

Thanks for thoughts!

Lan
Looking at Daily TF I would not be surprised if we see 1.54 on G/U before there is some consideration to go Long on this pair.The pair has broken some important support, so 1.5665 zone should become resistance for a while. It was a good to exit that long trade.
We never know what the market will do anyway so it is important to get out of trades that have turned against us.

Just to say that your original idea to enter the trade for an intra day was a reasonable one, it simply has nor worked out, as it could easily have done for a reasonable profit. I am of the opinion that you done the right thing getting out with small loss. Please do not feel bad about small loss, every trader has loosing trades.
Celebrating discipline.
I've just gone long GBPUSD 1:1

1) Price Action testing key resistance area.
2) TDI Below 32.
3) Divergence between TDI and price action.

Lots of evidence to direct price to the upside, entering on slight price retrace.

Not a confident trade for me so hoping to get +15 pips and exit.
Not a bad scalp on 5M. +15 TP hit.

Another bullback candle possibly formed on the close of hour in 7 min.

There looks like quite a few pullback candles there so there is strong resistance.

Good indication for a rally!
Attached Image (click to enlarge)
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Quoting Lancaster
Zulu could you help me, I'm not seeing the H&S on 4H G/U chart?

And in your opinion it was a strong sell setup this morning?

I figured:

1. daily channel was long
2. PA resting on bottom of channel along with the weekly support2
3. TDI was oversold and green was crossing red just below the 32
4. Horizontal line showed 2 clear support levels in recent history

As always thoughts, opinions, and assistance are greatly appreciated.

Lan
See chart. Last rally seem a rebound from H&S, which sometimes happens and gives a A+ selling opportunity.
You see a downsloped neckline, which makes for a particularly bearish setup.
(Left and right shoulder notations inverted, sorry for that)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDm_H4_strategy name_20120312143829.gif Size: 24 KB
Guys I see an opportunity to go long on GBPUSD on the break of resistance (At small green line - 1.5640) if it gets there.

1) TDI broke through red
2) In 32 area = over sold.
3) Divergence between Price Action & TDI.
Attached Image
Shorted from 1.5632
SL 45 PT 1.5485
Celebrating discipline.
Quoting 2be
Shorted from 1.5632
SL 45 PT 1.5485
Brought to BE trailing stop at 20 pips
shall be back at the comp in an hour or so
Celebrating discipline.
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