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Trading Made Simple 132,031 replies
Trading Made Simple the right way, and other trading lessons 318 replies
Indicators for the 'Trading Made Simple' system 342 replies
Charts, Charts, Charts! 1 reply
Trading Made Simple Charts Journal 2 replies
DislikedHi Britpip,
What's your take on EUR/AUD now? Nice consolidation below 200EMA in about a 100-120 pip range. As you mentioned there was a TDI cross back last week. Seems like today we shall see a closing below EMA5 and descending TDI below 68.Ignored
DislikedHi Britpop,
I have been following your method for a while. Thankyou for taking the time to publish your results. It has helped my trading alot. I got in the eur/aud long trade and netted close to 700 pips. Amazing! It took many nights of should i close it should I not.
What do you think of this potential trade on the eur/gbp?
The rsi needs to come down at 55 at the moment. But after that I think we are good to go.
The ATR (1) is only at 65% of ATR (7) so waiting for this aswell.
Do you wait until it hits 75% then enter or do you wait...Ignored
DislikedNice reversal bar yesterday, is this the one that starts the reversal?
TDI has crossed and is confirmed
Lots of room to run - 800pips
RSI 10 coming down with the current PA but still up at 58 - 60
Possibly waiting for a close below the 200ema
This pair is also giving the appearance of a reverse head & shoulders pattern - read into that what you willIgnored
DislikedOk so after a tense couple of days my limit order (EUR/GBP) was activated. Yesterday the trade formed a new low and then pulled back. I could have had an add on there but I was against my risk criteria.
I am now 37 pips up for TP1 and TP2. Its here i need to be paitient and disciplined as my initial feeling is to close the trade to avoid a loss and lock in profit.
But we are clear for the next 200 pips so i will stick to the rules and take profit at 2 x ATR (100 pips) and 4 x ATR (200 pips).
http://i49.tinypic.com/sl7mfp.png
Britpip...Ignored
Disliked...
One of the dangers of dropping to the lower timeframes is that they will often have reached an oversold / overbought area during any trend move on the day charts.Ignored
DislikedWould you elaborate how to avoid it? Would RSI10 be of any concern in H4?Ignored
DislikedThe short eur/gbp trade stalled.
It hit a support area and everytime it touch the price zone it accelerated upwards. I locked in 70 pips profit.
New trade:
EUR/JPY
SL = 100 pips
TP1 =200 pips
TP2 = 400 pips
RSI currently at ~45
ATR1 >75% ATR (7)
Below 200 EMA
Free for 4 x ATR after price breaks the BRN
Limit orders setup for fractal break 25 pips out of current fractal low
http://i50.tinypic.com/nltxua.pngIgnored
DislikedMy trading plan is written based on day charts, so all of my entries are from the day chart.
Once I am in a trade, the only time I go to a lower timeframe is when the PA is stalling. The H4 charts give me add-on entries, once I am in profit and pips are locked in the bank.
I have no real interest in going lower. In fact as you go through the lower time frames you will pick up conflicting signals.
The Day will confirm your short entry and show no signs of danger.
The H4 may show a pull back.
M30 will show you a buy signal.
After all of this...Ignored
DislikedI would very much value your opinion on a short on GU - I think it fulfils most of the requirements for your 'ideal entry' at the moment , but I have only recently started seriously looking at daily charts ,so i've probably missed some important points , and I would realy like to learn the daily trades .Rob.Ignored