GU
Another simple system - Time-Frame 15
- #3,324
- Jul 2, 2012 7:47am Jul 2, 2012 7:47am
- | Additional Username | Joined May 2012 | 1,021 Posts
Continue from post #3325.
I donno how to explain Price Action on why I took the above trade, but with simple englsh I will try to tell a story. " The Candle Story" hoping to share with everyone to correct me if i'm wrong in executing those trades. ( GU Chart attached)
There were 9 candles I watch every hour, from 04:00 hours, one appear after another setting up pattern at interval of 60 mins.
Candle 1. Resting of support (marked at beginning of day) - there're
Candle 2. Down ,but Pin bar. (strong buyer, support)
Candle 3. Still buying ( some selling)
Candle 4. Strong interest of buying.
Candle 5. Buy ( some selling may be profit taking)
Candle 6. Strong but ( Pin bar, buyer overtakes seller) Price established above
10EMA.
Now come the important candle
Candle 7. London Opened - Buyer from Candle 1 to 6 now sell hard at London open. Late comer, who bought at Candle 6 ( after seeing price above 10EMA) now have to bail out. Look at that wick of No. 7 candle ( it purpose is to take out SL. The price push price deep passed the "blue support" to take out SL (no mercy)
This is the real game banks play, they use fakey set up to get more buyer to come in, then at London open, they sell hard ( making profit because accumulation from Candle No. 1 to No. 6.)
Once they sell hard, " BUYING CHEAP" execercise begin just below RN. That's why you see the red Marubozu with long wick (look like hammer or pin bar) Morubozu is strong candle shown interest of buyer ( top shave) Regardless of candle colour
Candle 8. I enter my long at open of candle, goes down a bit to test RN, and 800ema hold very well. SL set 3 pips lower than the wick (18 pips SL). TP is RN 1.57000.
The test on this candle is to check anymore seller left to short.
Candle 9. They bail out again at RN for good 50+ pips. Leaving the late buyer stranded again. Candle 9 is classic Pin Bar.
This happen everyday, every pair. i watched many fakey set up to trap traders.
So beware the game they play.
Thank You for reading this Newbie view and set-up of Price action.
Gibril The Newbie
I donno how to explain Price Action on why I took the above trade, but with simple englsh I will try to tell a story. " The Candle Story" hoping to share with everyone to correct me if i'm wrong in executing those trades. ( GU Chart attached)
There were 9 candles I watch every hour, from 04:00 hours, one appear after another setting up pattern at interval of 60 mins.
Candle 1. Resting of support (marked at beginning of day) - there're
Candle 2. Down ,but Pin bar. (strong buyer, support)
Candle 3. Still buying ( some selling)
Candle 4. Strong interest of buying.
Candle 5. Buy ( some selling may be profit taking)
Candle 6. Strong but ( Pin bar, buyer overtakes seller) Price established above
10EMA.
Now come the important candle
Candle 7. London Opened - Buyer from Candle 1 to 6 now sell hard at London open. Late comer, who bought at Candle 6 ( after seeing price above 10EMA) now have to bail out. Look at that wick of No. 7 candle ( it purpose is to take out SL. The price push price deep passed the "blue support" to take out SL (no mercy)
This is the real game banks play, they use fakey set up to get more buyer to come in, then at London open, they sell hard ( making profit because accumulation from Candle No. 1 to No. 6.)
Once they sell hard, " BUYING CHEAP" execercise begin just below RN. That's why you see the red Marubozu with long wick (look like hammer or pin bar) Morubozu is strong candle shown interest of buyer ( top shave) Regardless of candle colour
Candle 8. I enter my long at open of candle, goes down a bit to test RN, and 800ema hold very well. SL set 3 pips lower than the wick (18 pips SL). TP is RN 1.57000.
The test on this candle is to check anymore seller left to short.
Candle 9. They bail out again at RN for good 50+ pips. Leaving the late buyer stranded again. Candle 9 is classic Pin Bar.
This happen everyday, every pair. i watched many fakey set up to trap traders.
So beware the game they play.
Thank You for reading this Newbie view and set-up of Price action.
Gibril The Newbie
- #3,325
- Jul 2, 2012 7:50am Jul 2, 2012 7:50am
- Joined Feb 2012 | Status: Trader | 3,108 Posts
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...
Let all the living things live blissfully
- #3,328
- Edited 8:29am Jul 2, 2012 7:58am | Edited 8:29am
- | Additional Username | Joined May 2012 | 1,021 Posts
Re Post # 3325
Look at the 60 minutes Chart ( 1 hrTF) in Post #3325.
I learn from this thread how to spot LONG & SHORT from 60 minutes Chart. ( From Arjun lesson).
The posting was done more than one hour ago with BLUE area mean LONG, RED area, mean SHORT. There is something dividing RED/LONG ( you can find in this thread to practice) -super easy set up for quick 20-30 pips.
Anyone notice that will made 37 pips by now. ( target is Friday High).
Arjun, Brother . thank you for everything ..... God blessed.
Sincerely
Gibril The Newbie
P/S HIT TARGET
Look at the 60 minutes Chart ( 1 hrTF) in Post #3325.
I learn from this thread how to spot LONG & SHORT from 60 minutes Chart. ( From Arjun lesson).
The posting was done more than one hour ago with BLUE area mean LONG, RED area, mean SHORT. There is something dividing RED/LONG ( you can find in this thread to practice) -super easy set up for quick 20-30 pips.
Anyone notice that will made 37 pips by now. ( target is Friday High).
Arjun, Brother . thank you for everything ..... God blessed.
Sincerely
Gibril The Newbie
P/S HIT TARGET
- #3,331
- Edited 9:09am Jul 2, 2012 8:43am | Edited 9:09am
- | Additional Username | Joined May 2012 | 1,021 Posts
EJ
Gibril The Newbie
P/S Target 99.9950 make it 100.00
Gibril The Newbie
P/S Target 99.9950 make it 100.00
- #3,334
- Edited 9:22am Jul 2, 2012 9:19am | Edited 9:22am
- | Additional Username | Joined May 2012 | 1,021 Posts
Continue from Post #3335
Shorted at RN 100.500. Nearing TP ( +44 still counting)
Thanks Arjun. This is the best system to trade. no stress. lol
Gibril The Newbie
P/S Target HIT and ADR. 100.00 RN ( that's easy 50 pips)
Shorted at RN 100.500. Nearing TP ( +44 still counting)
Thanks Arjun. This is the best system to trade. no stress. lol
Gibril The Newbie
P/S Target HIT and ADR. 100.00 RN ( that's easy 50 pips)
- #3,335
- Jul 2, 2012 9:21am Jul 2, 2012 9:21am
- | Additional Username | Joined May 2012 | 1,021 Posts
Gibril,
Very nice to see you come back and being active.
Pipping is a kind of art to you,right?
Enjoy bagging pips please!
Congratulations!
Thanks for posting chartsand hope to see more.
xiaoxin(a 4x newbie younger than you)
Happy to be free again at the moment.
Gibril The Newbie
- #3,336
- Jul 2, 2012 9:23am Jul 2, 2012 9:23am
- Joined Feb 2012 | Status: Trader | 3,108 Posts
EJ
Gibril The Newbie
P/S Target 99.9950 make it 100.00
Let all the living things live blissfully
- #3,337
- Jul 2, 2012 9:24am Jul 2, 2012 9:24am
- Joined Feb 2012 | Status: Trader | 3,108 Posts
Let all the living things live blissfully
- #3,338
- Edited 9:29am Jul 2, 2012 9:28am | Edited 9:29am
- Joined Feb 2012 | Status: Trader | 3,108 Posts
Continue from Post #3335
Shorted at RN 100.500. Nearing TP ( +44 still counting)
Thanks Arjun. This is the best system to trade. no stress. lol
Gibril The Newbie
P/S Target HIT and ADR. 100.00 RN ( that's easy 50 pips)
any idea????lol
Let all the living things live blissfully
- #3,340
- Jul 2, 2012 9:31am Jul 2, 2012 9:31am
- | Additional Username | Joined May 2012 | 1,021 Posts
my brother...your profit just got hit....hooray and my EU would have got hit now(not at home)...hooray...will post the chart...LOL....you stole my eyes so long ago...god bless you
Thank You to you BIG Brother for giving me such a nice EA ( RED/BLUE) I called it " ARJUNA EA"
It spotted the EJ trade some 44 minute ago for short. I just hit the SELL button without thinking ( Newbie). And it set TP right at the place it should be. I donno where EJ want to go. ?
I'm done for today (handsome Monday) Now to write my Trading Journal.
All entries 8/8 trades.
P/S can you let me to use " ARJUNA EA" for couples of days more ? Please
Sincererly
Gibril The Newbie