Another simple system - Time-Frame 15

Also right now E/U is rejected at the 800 EMA so not a good idea to trade longs

Raitchev
Thankyou for info.why did u take this trade coz i see support at 1.58805.price got rejected two times from there it seems.I cannot understand this ...

Here is a question for people a little more experienced with this approach:

Here we can see that the E/U had already crossed over for a long trade, but this was prior to the London open, so the trade wasn't taken. However, you can see by the second vertical line that there was an repeat of the signal to go long. I didn't take the trade, as I don't think it's a good idea to enter re-entries so soon on such a small time frame. As it happens, the price would have stopped you for a 20 pip loss before going to make a good move. Incidentally, another technique I use on higher time frames got me into that big spike up, so it's all good. But my question is; is there a set rule that would have kept us out of that trade? I see the 800EMA was a bit close, but there was about a 30 pip gap for movement upon entry. Was it a bad entry because the cross had already happened prior to the London open?

Any opinions welcome. It's all good!

Forgot to point out that there also seems to be some divergence at that point (And even more so later on) on the TDI.

First of all, as i mentioned this trade is not a "perfect setup".
In addition, this two rejections were not major support line. Do u see how the price got rejected several times at 1.5907 too? Now draw a line on that level and go back to H1 or H4, and you will see that this is a major resistance level. So that made me ignore this minor support level that formed during the asion session that day and go short.

In fact this level is keeping me from going long today. Because we still havent closed above it. (i mean 4HR close).

I am not so experienced trader so have that in mind too

I have started using this system, thanks for sharing this.
Got nice 30 pips on demo...

I want to ask if it is OK to put TP and SL at 10 pips?

Possible sell entry EJ or what?

To me it's drifting sideways - and I got my pivot line at 106.120 which PA had not really passed... Be careful

If you do go in, please do keep us posted. This isn't a pair I tend to watch, but that particular setup goes against my approach of not getting back in on a movement that has already happened. This is something I only do in small timeframes, as I mentioned on the previous page. By all means, I could be totally wrong, but it would be good to monitor it to see what happens.

There is also a very similar setup on the U/J which is pretty much just sitting flat.

Ok.thx

I didn't enter.Just watched and demoing in my head : ))

Better so - PA goes long now...

I think I just found the answer to the question I was posing earlier about a potentially bad E/U long trade. I took a moment to switch on my pivot point indicator and the long trade would have been just a few pips from S1... That might explain it

THis is how i look at the chart.It has very high probability to break that support line.The price has touched the yellow line twice and has bounced twice and the second touch did not reach the previous high(yellow line).

the price has hit the botton red line 3 times recently it was tryin to break that levelo 3 times...its tryin to break that level.nothing is 100% sure in forex..one news can change the whole story.but if that doesnt happen this is what the chart is telling me.lets watch in the coming days...

note:this is a day chart.

I think you guys are paying more attention to the TDI than Chart.first see whats on the chart folks..then look at the TDI and confirm you entry with the TDI.not the other way around.

This is why most of the traders get killed.dont do that mistake ppl.

Now look at the highlighted blue area..as soon as the price reaches that area..it bounced off in just one or two candles.

now see the yellow area...look at the consolidation.traders want to move the price down...there are no heavy buyers out there...and its ranging.see the number of indecision candles standing there without knowing where to go.

As a trader we need to look at these things.this is how we learn.this is what is price action,,pattern,minds of the people...

look at the orange arrow...even this is possible..nothing is 100% sure in forex...these are my thinkings and i might be wrong.but it works most of the time.

i think the push is down...lets see...triple top on 1hr

i shorted with 12 sl...watching it

Raitchev

crystal clear mate....thanks

its retracing superfast...