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  • #8,621
  • Sep 21, 2012 1:58am Sep 21, 2012 1:58am
Quoting Vantage
In addition to your upper TL there is also the low from 19 Sep to provide resistance. If we do slip higher theres always the W pivot at 1.3016 to give an 85/15 sell (price can often slip through RN to 15 or 85 collect a few stops before reversing).
Emmanuel7788 & Vantage,

thanks for this analysis!
  • #8,622
  • Sep 21, 2012 1:59am Sep 21, 2012 1:59am
Quoting 2013
Am looking at same tl. H1 close above or below is the order in place. Nice spot dude
Hi 2013...
why 2013?

Look closely what FFM open H1 cnandle is doing.
On M15, you will see how the price bounce off the EMA200, right.... very tempting to scalp this one. But LO is just minures away.

H1 is EMA60 as resistance???

Watch closely what will happen when LO soooooon.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,623
  • Sep 21, 2012 2:02am Sep 21, 2012 2:02am
see chart for scalpers only.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 21 Sep pre-LO 21-9-2012 2-59-38 PM.png Size: 35 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,624
  • Sep 21, 2012 2:05am Sep 21, 2012 2:05am
Quoting emmanuel7788
hi Rob,

you are quite right that PA is below the EMA60.
but the best entry are the 1st and 2nd candle after the change over.
Now is GMT0545 it is the 5th candle so more risk.
How will you mitigate this risk if you chase this 5th candle which a strong bearish H4 cnadle tom close in about 2+ hours (Note I use broker server time GMT+0) so this H4 will close one hour after the LO H1 candle.

Trade Well.
Hi,

on the attached chart there are two trades. The first one has stopped out as it hit the SL set just above the H4 TF resistance line (dashed blue line). It is very nice to see that the D TF resistance line (solid blue line) at around 0.9816 level stopped the rising of the price. After the TDI cross I entered also short, as robuk did. On my chart it was the 3rd bearish candle.

take care, thrax
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_H4_strategy name_20120921095609.gif Size: 22 KB
  • #8,625
  • Sep 21, 2012 2:16am Sep 21, 2012 2:16am
Quoting thrax
Hi,

on the attached chart there are two trades. The first one has stopped out as it hit the SL set just above the H4 TF resistance line (dashed blue line). It is very nice to see that the D TF resistance line (solid blue line) at around 0.9816 level stopped the rising of the price. After the TDI cross I entered also short, as robuk did. On my chart it was the 3rd bearish candle.

take care, thrax

Hi thrax,

you are trading vey well as I see your recent postings. Hope others will learn from your posts how to trade H4.

I use broker server time GMT+0 so my H4 candle are slightly different.
But nevertheless, the price action at 0.9800 is very evident for a bearish move even for other H4 server time.

Hope other traders also see this PA at 0.9800.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,626
  • Sep 21, 2012 2:19am Sep 21, 2012 2:19am
Quoting emmanuel7788
Hi 2013...
why 2013?

Look closely what FFM open H1 cnandle is doing.
On M15, you will see how the price bounce off the EMA200, right.... very tempting to scalp this one. But LO is just minures away.

H1 is EMA60 as resistance???

Watch closely what will happen when LO soooooon.
Hi Emma,
why 2013? One day, i wake up. I see my calendar already 2013. So i register 2013. When i wake up, only i notice am still stuck at 2012

Yes m15 bounce@200MA , H1 60MA holding. Overall H1 still uptrend , wait tdi cross for h1 200MA. There will be sell.
As for me ,I favour sell area here till price close above TL only void
  • #8,627
  • Sep 21, 2012 2:31am Sep 21, 2012 2:31am
Quoting smarco
Emmanuel7788 & Vantage,

thanks for this analysis!
hi smarco,

I am sure you knew what to do on M15 when there is BRN and EMA200... right?
You scalper type trader.

Trade Well!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,628
  • Sep 21, 2012 2:35am Sep 21, 2012 2:35am
Let's have a show of hands how many on this thread trade using M15 TF.

If you like that we share and discuss our M15 trades here, give me a shout of approval.

Otherwise we limit our sharing on S3 H1 and H4 trades only.

If I count minimum 50 shouts, we decide...ok?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,629
  • Sep 21, 2012 3:03am Sep 21, 2012 3:03am
very interesting LO candle
now you must decide.
Attached Image (click to enlarge)
Click to Enlarge Name: EU LO candle GMT 0800 21-9-2012 4-00-03 PM.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,630
  • Sep 21, 2012 3:04am Sep 21, 2012 3:04am
Quoting emmanuel7788
very interesting LO candle
now you must decide.
May i vote Sell
  • #8,631
  • Sep 21, 2012 3:06am Sep 21, 2012 3:06am
Quoting emmanuel7788
Let's have a show of hands how many on this thread trade using M15 TF.

If you like that we share and discuss our M15 trades here, give me a shout of approval.

Otherwise we limit our sharing on S3 H1 and H4 trades only.

If I count minimum 50 shouts, we decide...ok?
Hi Emmanuel, I'm not a scalper.. but just a small trader at the beginning ;-)

I love Phx62 method (H1), clean and clear, but I also notice that M15 reduce SL. This is very very important in case of "bad" analysis for beginners (I speak for myself).

In first post XMan recommended EMA4, but now he confirms EMA10 in place of the first.

I think we can "update" the thread, but keeping always clean ("Simple System") as first BigE thread
  • #8,632
  • Sep 21, 2012 3:24am Sep 21, 2012 3:24am
Quoting emmanuel7788
Let's have a show of hands how many on this thread trade using M15 TF.

If you like that we share and discuss our M15 trades here, give me a shout of approval.

Otherwise we limit our sharing on S3 H1 and H4 trades only.

If I count minimum 50 shouts, we decide...ok?
I would be very much interested to learn th M15 strategy. you have my vote.
  • #8,633
  • Sep 21, 2012 4:02am Sep 21, 2012 4:02am
Quoting 2013
May i vote Sell
-30p for the sell. What a reverse candle
  • #8,634
  • Sep 21, 2012 4:08am Sep 21, 2012 4:08am
Quoting thrax
Hi,

on the attached chart there are two trades. The first one has stopped out as it hit the SL set just above the H4 TF resistance line (dashed blue line). It is very nice to see that the D TF resistance line (solid blue line) at around 0.9816 level stopped the rising of the price. After the TDI cross I entered also short, as robuk did. On my chart it was the 3rd bearish candle.

take care, thrax
When i posted it was at 48 - my broker gmt +0
Do you tend to favour waiting for price to be under the 60ema - as in xman method or do you think other things are more important ?
I'm trying to learn, thanks for posting your charts , very helpfull .
  • #8,635
  • Sep 21, 2012 4:11am Sep 21, 2012 4:11am
Quoting smarco
Hi Emmanuel, I'm not a scalper.. but just a small trader at the beginning ;-)

I love Phx62 method (H1), clean and clear, but I also notice that M15 reduce SL. This is very very important in case of "bad" analysis for beginners (I speak for myself).

In first post XMan recommended EMA4, but now he confirms EMA10 in place of the first.

I think we can "update" the thread, but keeping always clean ("Simple System") as first BigE thread
I agree. I also like Phx62 way of trading. I am trying but I cannot trade the way he does. Why?
1. The psychology is different.
2. Money Management is different.
3. Trade Management style is different.
4. He is intuitive trading the way he does. I am not intuitive like him.

whether you use EMA4 or EMA10 or Dean Malone' PAC will make little difference when we cannot read Price Action well and consistently.
You also need to do a Big Picture plan when you want to trade long term.

See attached chart. Is there a lot of difference between EMA10 and PAC using Smooth SMA5 High/Low?

Regards,
Attached Image (click to enlarge)
Click to Enlarge Name: 10EMA vs 5SSMA PAC.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,636
  • Sep 21, 2012 4:15am Sep 21, 2012 4:15am
Quoting 2013
-30p for the sell. What a reverse candle

you can sell later ... but maybe not today. It's one of those Friday thingy so must always be alert.

that kind of candle I always watch very closely. We retail traders cannot see what is above and what is below until after the fact.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,637
  • Sep 21, 2012 4:50am Sep 21, 2012 4:50am
Quoting robuk
When i posted it was at 48 - my broker gmt +0
Do you tend to favour waiting for price to be under the 60ema - as in xman method or do you think other things are more important ?
I'm trying to learn, thanks for posting your charts , very helpfull .
Actually I deviate a bit from X-Man's original approach, but I think am very close to it. I use 3 EMAs, but the main one is the EMA(89) (it was suggested by dcginc on his homepage. I highly recommend it to visit: www.protredernetwork.com) For me it worked better than EMA(60). If the price is below the main EMA and the EMA has a decreasing type slope and there was a TDI cross, it can be a valid signal. But it will be only a valid entry point for me if the identified S/R levels on D and H4 are not to close, because it is not wise to sell into a D TF resistance level. If you do this it is very likely that the price will be stopped by the R. I would like to emphasize "likely", because I think, we are trading likelyhoods.

Thanks Emmanuel for your words, it is a real reinforcement for me!
  • #8,638
  • Sep 21, 2012 6:29am Sep 21, 2012 6:29am
Quoting emmanuel7788
Let's have a show of hands how many on this thread trade using M15 TF.

If you like that we share and discuss our M15 trades here, give me a shout of approval.

Otherwise we limit our sharing on S3 H1 and H4 trades only.

If I count minimum 50 shouts, we decide...ok?
Count me in , thanks
  • #8,639
  • Sep 21, 2012 6:40am Sep 21, 2012 6:40am
Hi All,

I did few months data back test on EU and GU. I tried to add some rules to make me confident on taking a setup, such as:

1. Price: check S/R, HH/HL or LH/LL flow, APB body min 10 pip max 40 pip, APB bar must be a strong bar
2. TDI: green crossed red and the bar has already closed, check divergence, and see position of TDI price on bollinger band
3. avoid news: close any transaction before news
4. check trend on higher TF --> still learning the get the concept especially when the trend on higher TF is on the way to change (retrace/reverse)

quite much to write down, but perhaps for all senior traders here it just needs a glance at a chart to collect all the information...

my last result getting better for EU, less trades but more profit on sum. result is still very poor on GU. i analyze the result and one of my conclusion is i need to manage open trade better. especially on GU, there are open trades that getting profit but not hit my TP (SL:TP = 1:1) and then reverse its direction.

i've tried to close the trades manually when the APB bar color change, also tried to close when last APB bar fail to create HH/LL. The result is not good enough. most of them have already turned to loss using those rules.

hopefully some traders here don't mind to share how to deal with this situation to avoid the profit open trades switched to loss trades.

many thanks and regards...
  • #8,640
  • Sep 21, 2012 8:31am Sep 21, 2012 8:31am
Quoting emmanuel7788
very interesting LO candle
now you must decide.
There is no question, you do nothing. It does not matter how big a candle is, when it is a DOJI it is a DOJI and you wait for the next candle to close before you decide on your entry.
Cut your Losers short and let your Winners run.
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