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Another simple system - Time-Frame 15

  • #3,301
  • Jul 1, 2012 6:32pm Jul 1, 2012 6:32pm
Newbie plan for today.

GU : Break the Blue, short, SL 25 pips, TP Red Line. lol



Gibril The Newbie


P/S don't follow this. just a newbie view.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 15 mins.gif Size: 96 KB
  • #3,302
  • Jul 1, 2012 6:42pm Jul 1, 2012 6:42pm
[quote=prof8t;5805283]Had the same problem when I was a newbie. Learned that the easiest place to catch a trade was off a bounce of S/R. Seems to work out quite well.[/quote]


Hi prof8t,

I agree with you as I'm Newbie with 7 months trading experience, i just have to learn from experienced traders in this thread on how to identify S & R.

Can you help to identify from my chart posted which is the most likely Support that will hold or break as you've experience in it.

Thank you for your help.

Gibril The Newbie
  • #3,303
  • Jul 1, 2012 8:12pm Jul 1, 2012 8:12pm
Quoting zortan
GU 15 min chart with S & R lines in red, daily pivots, 200 & 800 MA's and round numbers. Looking for price action at these points, also looking to have these 'behind' any trade for a SL (the more the better).

Attachment

Hi zortan,

I see you have a lot more S & R lines compares to mine only 2 lines (in post #3305 ) -( Because I don't know how to get that many lines ) .

I'm very interested to learn on those lines especially the daily pivots lines you put in your charts.

As I understand (from internet) , Most brokers & MT4 use 5pm-5pm New York time as "one day" to draw the daily pivot levels.

I think all trading platforms and charting packages open and close daily candles at 5pm New York time. Except on Sunday. (Sunday totally screws the pattern up)

I would like to learn from you how to get today pivot levels ? Please , please help, as I've search a lot & coudn't find pivot that calculate Sunday or exclude Sunday data. ( they just mixed up).


Thank You

Gibril The Newbie

P/S : I'm not proficient in English & never go to school, hope you don't laugh at my English.
  • #3,304
  • Jul 2, 2012 1:49am Jul 2, 2012 1:49am
Quoting prof8t
Had the same problem when I was a newbie. Learned that the easiest place to catch a trade was off a bounce of S/R. Seems to work out quite well.
How do you trade a bounce? At what timeframes do you look to find S&R?
I think, we, the newbies, can learn a lot from you and from others who have experience if you want to help us!
  • #3,305
  • Jul 2, 2012 2:07am Jul 2, 2012 2:07am
I trade GJ today.
Attached Image


Attached Image


Attached Image (click to enlarge)
Click to Enlarge Name: GJ M15.jpg Size: 77 KB

TP area is DPV, Fibo50%, and EMA 200 in H1.
TDI Green line is below 32, confirmed.
  • #3,306
  • Jul 2, 2012 3:26am Jul 2, 2012 3:26am
Few ways to look at the chart...


1) Naked...means no indicators except Rn and some manual lines
2) Moving averages ( dynamic support and resistance)
3) All junk including TDI.

most of the newbies start from 3rd stage and travel back to 1.coz our mind is complicated and always look for the easiest way to get rich quick.


Initially i started this thread with 3rd stage and now it is travelling towards the 1st stage.

What is a MA??

It is dynamic support and resistance line which means that if you see a 200ema on the chart.if you draw a line on the 200ema ...you will see a support or a resistance few days back.that is why the price tend to bounce off those levels and we make use of it.if the price is under the 200ema and moves towards it...most of the time there will be a bounce of the that level.if the same happens on HTF for example on the daily chart the bounce will last for few days..we take shorts or longs based on that.

But sometimes the price will bounce off or sometimes it will blow throught it. how do we determine it this is going to bounce or go through....

say 4hr chart,,.,.,the price is below the 200ema. there is a huge sell off..and the price approaches the 200ema for the FIRST time .what basically happens here is (90%) of the times.it will bounce off which we will confirm with the 15min TF...most of the bounce will happen around the RN...and avoid taking the trade int he middle or keep a very high stoploss.

Now what is a RN and why is it significant?

Round number is a psychological level.major banks dont target for small pips and they hate numbers like 1.34572....they would target for profits like 1.00000. so when they buy or sell at those points the price moves....

it takes very huge money to reverse the price...thats when we say the Resistance becomes support this is most probably happens when there is profit taking.

God bless..
Let all the living things live blissfully
  • #3,307
  • Jul 2, 2012 3:34am Jul 2, 2012 3:34am
Quoting Patel
Hello Arjun...

I m so much confused now cause you said that only homework u have to do is , decide u going long or short looking daily & 4hr time frame..but can u tell us what u look on this HTF chart and how u decide that today i m going long or short????

In my mind so many questions going on now, what i m missing here that making me confused...I really appreciate your help so as other trader too..

You doing a job that no one did in this FF forum opening a eyes how to look forex in real PA..

God Bless you and your family.

Thanks...

yes...and i have told a millions times how o decide to go long or short...dig more..mate..its all in the thread my friend.the only thing which i have not discussed it the ADR entry.which i will not for now.
Let all the living things live blissfully
  • #3,308
  • Jul 2, 2012 3:34am Jul 2, 2012 3:34am
Quoting Eni
hello luvevery1,

thanks alot,actually i wanted to write tf 15,but i am really glad your answer clears every thing.You have restored confidence into my heart about this business.The rules is to stick to a particular timeframe dat suits one and follow the rules and be discipline and not greedy.

Thanks alot ARJUN.

Hope not annoyed by calling you by dat name?Plis keep posting whatever you think will be of benefit to us in this business.Still expecting what you promised about the one that is even more simpler than this current one.LONGLIVE...
not at all my brother...keep pipping and keep helping
Let all the living things live blissfully
  • #3,309
  • Jul 2, 2012 3:36am Jul 2, 2012 3:36am
Quoting By_Tor2114
Ok, thanks for that, Arjun. I'm guessing I've missed something in this thread, as I've not seen a definition of what you're using to decide long or short bias. I have my own way now, but I'd be interested to see how it compares.
i have discussed this several times mate...its all here in this thread...most of the guys are failing to read the posts...i get some PMs based on this
Let all the living things live blissfully
  • #3,310
  • Jul 2, 2012 3:38am Jul 2, 2012 3:38am
Quoting Gibril
Greetings,

Need help from MY FRIENDS in this thread.

Newbie question, hope you can help me.

Attached EUR/USD 15mins TF on 21st, June, 2012.

Orange marked LO, Yellow marked NYO.

Both has same set up for short, but one failed the other go thro.

Is there anything else I miss looking at this short set up ?

Thank You for your help.


Gibril The Newbie.
Now i know the reasons why you are asking QUESTIONS my brother....much appreciated.you are a star.someone with my mind.
Let all the living things live blissfully
  • #3,311
  • Jul 2, 2012 3:40am Jul 2, 2012 3:40am
Quoting xiaoxin
I trade GJ today.
Attachment

Attachment

Attachment
TP area is DPV, Fibo50%, and EMA 200 in H1.
TDI Green line is below 32, confirmed.
i dont know how long you have been trading...but your analysis are perfect and way its to be done...keep up the good work
Let all the living things live blissfully
  • #3,312
  • Jul 2, 2012 3:47am Jul 2, 2012 3:47am
hmm havent seen any good setup so far looks a bit like ranging so far...
  • #3,313
  • Jul 2, 2012 3:55am Jul 2, 2012 3:55am
Quoting Patel
http://www.forexfactory.com/attachme...7&d=1341164083

Gibril,

You entering long near 1.2650, TP 1.2750, SL around 1.2625,

This is what i think if i m entering near 1.2650, TP 1.2750 i put my SL @ 1.2600 still its 1:2 reward ratio and the reason if price goes against u and if its touch to 10ema where u like to put your SL, As per Arjun said there is always price bounce of on 10ema at least 5pips on 15MTF and 50pips on DTF so assume price will at least bounce of 20pips on 4HTF, so at least you have chance...
brij....girbril considers himself as a newbie but he is not...he is very much experienced is a very short time...may be he was a forex trader in his previous birth.LOL...

do not trust the 10ema touch on the 15min chart..unless the trend is established...remember first touch is very importnat...the other tocuhes are little risky..and if you are taking a sell singal and if the 10ema is right below the RN say 2 pips and when the price is appraoching the 10ema...it works like a charm.most of my charts are based on this...few folks have all most posting...just ask them ..they should give to you.
Let all the living things live blissfully
  • #3,314
  • Edited 4:41am Jul 2, 2012 4:23am | Edited 4:41am
Quoting Gibril
And Another Newbie Question.


EJ : Which support to be tested and hold ?


Gibril The Newbie
Previous post #3303. I've put one nice blue support line as my TP .

I took the trade based on PA and others reason. If my reasoning was wrong please correct me, as I'm still learning. Thank You


See Chart Attached 15M TF. Blue TL is 60M TF

As Newbie, I see this is a straight forward trade as tought by the owner of this Thread, and easy to spot.


Gibril The Newbie


The TP area is = 800ema, RN, PPA and Fib ( I think ?)
Attached Image (click to enlarge)
Click to Enlarge Name: ej 15 mins.gif Size: 127 KB
  • #3,315
  • Jul 2, 2012 4:43am Jul 2, 2012 4:43am
EU +25 pips. Lucky it hits my TP and reverse.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: tradeEU_2.7.12.jpg Size: 202 KB
  • #3,316
  • Edited 4:55am Jul 2, 2012 4:52am | Edited 4:55am
[quote=Gibril;5805412]Newbie plan for today.

GU : Break the Blue, short, SL 25 pips, TP Red Line. lol


quote]



Post #3305.

The plan never took off as PA never broke the Blue Support line, but I was watching it closely because it broke the 60M TL. As Pa develop, I see the RN 1.56500 & blue Support going to hold . Look at the fakey setup candles luring to short.

If my analysis is wrong please correct me as i'm still learning. Thank You


Gibril The Newbie


P/S - Don't ask me why there is no TDI in my Chart, as Newbie I don't know how to use it. ( very complicated for my small Newbie brain)
Attached Image (click to enlarge)
Click to Enlarge Name: gu 15 mins.gif Size: 95 KB
  • #3,317
  • Jul 2, 2012 5:23am Jul 2, 2012 5:23am
Follow up to post #3300, GU 15 min chart

Attached Image (click to enlarge)
Click to Enlarge Name: GU 15 min 2.png Size: 21 KB



1 and 2 show where NEW areas of S & R are created, always keep an eye to the left of price to see where highs and lows can start to act as support or resistance.

The white areas show where price has reacted to the areas we would expect it to. Note that the biggest move of the day started where the price reacted to several of these areas that are together.

If you have trouble identifying these areas, concentrate on just ONE chart throughout the day, this will focus your attention and soon these areas will just scream at out at you.
  • #3,318
  • Jul 2, 2012 5:49am Jul 2, 2012 5:49am
Quoting Gibril
And Another Newbie Question.


EU : Which support to be tested and hold ?

Revisit Post #3302.

One of the post by the owner of this thread clearly outline how to start the day of trading by doing sequence of things..... I'm just following that procedures and practising it now.

It work out well. Thank you to the owner of this thread to simplified my trading method and made me "SEE"

Once the Chart is set, it is just waiting game for the PA to reach those level marked for execution. (reversal, or continuation or consolidation)

Attached chart is the reason I took the trade ( now +30 pips). I donno how to explain it clearly as I'm still learning to write proper English.


thanks Brother Arjun for teaching me.


Gibril The Newbie
Attached Images
  • #3,319
  • Jul 2, 2012 6:04am Jul 2, 2012 6:04am
From the S & R areas on the GU 15 min, there were THREE quick trades of pin bars available on the 5 min chart, ALL low risk, the 1st and 3rd were the best. I took the 3rd and that's it for the day.

Attached Image (click to enlarge)
Click to Enlarge Name: GU 5min.png Size: 21 KB
  • #3,320
  • Jul 2, 2012 6:13am Jul 2, 2012 6:13am
Hi, Arjun, thanks you very much for encouraging me.
My story:
I became to trade forex one year ago(Trade live maybe 6months or so,following this thread for 3 months,including 1 months away).
As a newbie, I hunted for my holy-grail, indicators, templates here and there.
Luckily, I understand there is holygrail in the world at all as soon as my account was nearly blown out(200 left,10000input). And I found that if I stick to one method and know how it works, profit can be done mayebe. I nearly lost my account because of wishing to make quick money(How silly I was. I want to warn guys who wish to be a millionaire overnight stop trading ASAP). I beat myself down and did a lot of stupid newbies behaviors.
Very lucky, when you start this thread, I jumped in and followed.
BUT, unfortunately, 2 weeks later, I went on a biz trip for 30days.
When I came back, the thread is 200 pages long and I spent 3weeks to catch up with the other guys. So that I know why PA is so important in forex market.
I try to understand your method, book entry, bounce trade, CT and LOVE1 advanced set up, and I went to learn how TDI works. I became to know how I get prepared to trade and what I should concern.
Reading, taking notes from your post and other pros,like PAT and Assang,etc,
I did a lot back testing. I sit in front of PC, to analyse pairs as many as possible to practice your method and follow the rules. And post my trading charts if I have time. Posting charts, indeed helps me a lot to be on the trail, I think. For each trade I made I try to analyse why and took notes down.

I am still a newbie, but like a phoenix nirvana, a kind of rebirth because of Arjun, the GREAT RARE AWESOME KINDHEARTED FREE mentor.
The progress I made is all upon YOU, my dear Arjun.
My thanks is beyond words.

I just want to tell folks here in this thread, stick to this thread, follow the rule, practice more, we can make it.

As a newbie, I still have a lot to learn and will try my best and need more help.

Love and peace!
Good pipping to everyone!
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