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Another simple system - Time-Frame 15

  • #1,661
  • May 15, 2012 8:28pm May 15, 2012 8:28pm
how many brother/sisters took these setups...first setup
Attached Image (click to enlarge)
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Let all the living things live blissfully
  • #1,662
  • May 15, 2012 8:52pm May 15, 2012 8:52pm
Quoting loveevery1
how many brother/sisters took these setups...first setup
Hi Loveevery1,

Thanks for your grt effort,

Would the entry be about 7 or 8 bars prior to the first yellow vertical line?

TF
  • #1,663
  • May 15, 2012 9:25pm May 15, 2012 9:25pm
Quoting loveevery1
how many brother/sisters took these setups...first setup
I took the first leg down after it violated the previous support level, put my TP on the next support level around 1.607 (this setup with SL and TP was discussed in the chatroom too). I missed the second leg down, what I'm gonna do next time is I will plot a fibo on the leg that breaks previous structure and if it retraces to one of the key fibo levels (in this case it was 38.2) and stops I will take another leg down. From there it basically had a free flow down with no support on it's way. Informationally I was no longer trading.

Now, the key areas I see for potential reversal on this pair is around 1.592 (weak level) and 1.582 (very strong level). Until than I'm a seller only.

Let me know what you thoughts are guys.
  • #1,664
  • May 15, 2012 9:39pm May 15, 2012 9:39pm
Hey El1in, i think Le1 was looking at the EU chart, but I agree with your support levels on GU - looking at the daily timeframe.

I had a poor day trading yesterday, chased poor setups early in the session where there was little momentum, then missed the good ones later on when news was released!
Can anyone share how they prepare for their trading session? Do you guys have a routine? ie
-check news
-check charts for potential setups
etc?



Quoting El1n
I took the first leg down after it violated the previous support level, put my TP on the next support level around 1.607 (this setup with SL and TP was discussed in the chatroom too). I missed the second leg down, what I'm gonna do next time is I will plot a fibo on the leg that breaks previous structure and if it retraces to one of the key fibo levels (in this case it was 38.2) and stops I will take another leg down. From there it basically had a free flow down with no support on it's way. Informationally I was no longer trading.

Now, the key...
The more I learn, the more I realise how little I know...
  • #1,665
  • May 15, 2012 9:56pm May 15, 2012 9:56pm
Quoting Adsa
Hey El1in, i think Le1 was looking at the EU chart, but I agree with your support levels on GU - looking at the daily timeframe.

I had a poor day trading yesterday, chased poor setups early in the session where there was little momentum, then missed the good ones later on when news was released!
Can anyone share how they prepare for their trading session? Do you guys have a routine? ie
-check news
-check charts for potential setups
etc?
Hey Adsa,

I'm getting into this new routine that one hour before FO. I open my 2nd mt4 (getting mt5 now, for easier charting) which is on demo and quick analysis on my pairs on H4 time frame. I'm looking for simple pattern, divergence, key S&R areas this defines whether I'm a seller or buyer on that specific pair.

Now if I was a pro and had two monitors like tor I would have my 2nd mt4 with h4 charts open at all time to remind me if I'm looking for buying or selling signals on respective pair. Since I don't I put it down on a piece of paper and have it in front of me while trading.
From there on I'm sticking to my rules and strategy.

I've seen a significant improvement since I've applied this preparation to my trading plan and not just blindly following the signals.

As far as news are concerned, I'm looking for something to remind me a time a news release, some countdown alarm. So I know when to close my trades .
I don't care about the outcome of the news I simply don't trade them.

Any suggestions to improve this?

PS: H4 works the best for me for M15 trading, if I was gonna do some M5 scalping I would scroll down to H1. But that's just opinion. My bro science
  • #1,666
  • May 15, 2012 11:25pm May 15, 2012 11:25pm
Hello Friends.

Any I dea why I could be blocked on the WEbchat and how to get around it ?

DD
  • #1,667
  • May 15, 2012 11:38pm May 15, 2012 11:38pm
Quoting TradeForexFx
Hi Loveevery1,

Thanks for your grt effort,

Would the entry be about 7 or 8 bars prior to the first yellow vertical line?

TF
hello tradeforex...the entry would on the marked candle...this is a classic setup...always safe and works 90% of the times but occurs rare....
Let all the living things live blissfully
  • #1,668
  • May 15, 2012 11:42pm May 15, 2012 11:42pm
Quoting El1n
I took the first leg down after it violated the previous support level, put my TP on the next support level around 1.607 (this setup with SL and TP was discussed in the chatroom too). I missed the second leg down, what I'm gonna do next time is I will plot a fibo on the leg that breaks previous structure and if it retraces to one of the key fibo levels (in this case it was 38.2) and stops I will take another leg down. From there it basically had a free flow down with no support on it's way. Informationally I was no longer trading.

Now, the key...
hello EL1n....careful about the rumours about the " fall of Euro"...its everywhere.a bad news will take the charts somewhere.play real safe...avoid trading euro pairs..its just falling and falling
Let all the living things live blissfully
  • #1,669
  • May 15, 2012 11:50pm May 15, 2012 11:50pm
Quoting Dildubai
Hello Friends.

Any I dea why I could be blocked on the WEbchat and how to get around it ?

DD
It happened to me and I solved the problem by restarting the computer and internet router.

Harry
  • #1,670
  • May 16, 2012 12:16am May 16, 2012 12:16am
Hey guys,

In the chat room right now, but just had a Firefox crash so everyone thinks I'm the troll that has been copying people's IDs.

Just posting this so they know I am the real one
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #1,671
  • May 16, 2012 12:33am May 16, 2012 12:33am
I want to chat via skype but I can't send a PM here as a junior member

PM me plz to contact skype
  • #1,672
  • May 16, 2012 12:36am May 16, 2012 12:36am
Quoting By_Tor2114
Hey guys,

In the chat room right now, but just had a Firefox crash so everyone thinks I'm the troll that has been copying people's IDs.

Just posting this so they know I am the real one
The chatroom is getting constantly trolled, so let use skype room instead.
  • #1,673
  • May 16, 2012 12:47am May 16, 2012 12:47am
Quoting El1n
The chatroom is getting constantly trolled, so let use skype room instead.
Yes,I think thatīs the only way to get them out..
  • #1,674
  • May 16, 2012 12:48am May 16, 2012 12:48am
Quoting El1n
The chatroom is getting constantly trolled, so let use skype room instead.
What is the address for skype roonm? do we need password?

DD
  • #1,675
  • May 16, 2012 12:54am May 16, 2012 12:54am
Quoting Dildubai
What is the address for skype roonm? do we need password?

DD
I don`t think skype room is opened yet...
  • #1,676
  • May 16, 2012 1:05am May 16, 2012 1:05am
Had good trading session yesterday in the chat room. And although my stop on the AU (Lazy currency) got hit, it went down way beyond what I expected.

Right now eyeing the AUDCAD pair. Attempts to break above 200 MA have failed so far. Perhaps the next candle will give the signal.

GBPCHF also looking ready for a drop. Let's see the end of this candle.

Do post once the Skype room is active friends

DD
  • #1,677
  • May 16, 2012 1:18am May 16, 2012 1:18am
Took long for 20 pips after price tapped S2 3 times and broke above 2700. TP at S1 ,yesterday low.

  • #1,678
  • May 16, 2012 2:12am May 16, 2012 2:12am
Troll seems to have gone
  • #1,679
  • May 16, 2012 8:19am May 16, 2012 8:19am
I have to say thanks for LE1 and the others in this thread.Silently I was reading it from the begining and I learned a lot.Please keep up that good
work. thanks Imi
If you're going through hell, keep going. Winston Churchill
  • #1,680
  • May 16, 2012 11:30pm May 16, 2012 11:30pm
Quoting Imi
I have to say thanks for LE1 and the others in this thread.Silently I was reading it from the begining and I learned a lot.Please keep up that good
work. thanks Imi
Hello Imi
You'll find the best approach on this thread but what will make it all work for you is to fold up your sleeves and do the work BACK-TEST BACK-TEST BACK-TEST.
It will build your confidence, and assure you when you take a loss that a better trade is just round the corner so keep taking your trades that meet the criteria.

Henry
Let it turn and find your entry.
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