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Simple Money Making Method

  • #1,081
  • Oct 8, 2012 7:45am Oct 8, 2012 7:45am
Good morning everyone!
Lets have a green pipin day
Noticed Cable dropping generally more on US session then London....something worth noticing.
Here is a nice set up in progress on Euro.Noticed the 2 EMA's cross matches with 38.2 Fib retrace? There another aspect you should keep in mind.2960 is a major zone and strong support and price could bounce back and head 30 and above specially what Draghi may say tonight.
Attached Image (click to enlarge)
Click to Enlarge Name: euro retrace.gif Size: 18 KB
In trading, you have to be defensive and aggressive at the same time
  • #1,082
  • Oct 8, 2012 9:15am Oct 8, 2012 9:15am
Quoting Davit
Good morning everyone!
Lets have a green pipin day
Noticed Cable dropping generally more on US session then London....something worth noticing.
Here is a nice set up in progress on Euro.Noticed the 2 EMA's cross matches with 38.2 Fib retrace? There another aspect you should keep in mind.2960 is a major zone and strong support and price could bounce back and head 30 and above specially what Draghi may say tonight.
Davit is one of the important contributors to this thread, his knowledge on different learning materials / authors would be a great help for all the newbies…

Lets keep coming davit...

Cheers,
FX-Pro
  • #1,083
  • Oct 8, 2012 9:16am Oct 8, 2012 9:16am
Hi all. Have been reading this thread with interest and signed up to participate. I love this method, thanks FX Pro!

On the Euro-USD this morning (10/08/2012), are we not waiting for a SHORT?

12EMA crossed 72EMA, now it is in pullback.

The way I am understanding the system, we should be looking for a Short entry. Yes? No?

http://screencast.com/t/NZlbTTwxTONX

The link is to Jing screenshot.
  • #1,084
  • Oct 8, 2012 9:22am Oct 8, 2012 9:22am
Fx-Pro

Will you be able to comment on USDJPY? I entered the trade 2 candles back.
Faith with Action
  • #1,085
  • Edited 10:08am Oct 8, 2012 9:38am | Edited 10:08am
Quoting hinnavaru
Fx-Pro

Will you be able to comment on USDJPY? I entered the trade 2 candles back.
I don't know much about this pair...

but looking at the chart alone... i see a pullback & reject from 200EMA with resistance supporting your entry... seems good for now... but personally i would need a better bar/place to enter.... to be safer look for BE ASAP.

Cheers,
FX-Pro
Attached Image (click to enlarge)
Click to Enlarge Name: Ex.png Size: 27 KB
  • #1,086
  • Oct 8, 2012 9:39am Oct 8, 2012 9:39am
Quoting fttrdr
Hi all. Have been reading this thread with interest and signed up to participate. I love this method, thanks FX Pro!

On the Euro-USD this morning (10/08/2012), are we not waiting for a SHORT?

12EMA crossed 72EMA, now it is in pullback.

The way I am understanding the system, we should be looking for a Short entry. Yes? No?

http://screencast.com/t/NZlbTTwxTONX

The link is to Jing screenshot.
Did you look at my post just above with chart? Did you read? Trading is about paying attention! Why are you asking the obvious?
In trading, you have to be defensive and aggressive at the same time
  • #1,087
  • Oct 8, 2012 9:44am Oct 8, 2012 9:44am
Quoting fttrdr
Hi all. Have been reading this thread with interest and signed up to participate. I love this method, thanks FX Pro!

On the Euro-USD this morning (10/08/2012), are we not waiting for a SHORT?

12EMA crossed 72EMA, now it is in pullback.

The way I am understanding the system, we should be looking for a Short entry. Yes? No?

http://screencast.com/t/NZlbTTwxTONX

The link is to Jing screenshot.
You entered on a support are for a sell... & i don't see a trigger yet... please read the entries once again....
  • #1,088
  • Oct 8, 2012 9:46am Oct 8, 2012 9:46am
Quoting FX-Pro
Davit is one of the important contributors to this thread, his knowledge on different learning materials / authors would be a great help for all the newbies…

Lets keep coming davit...

Cheers,
FX-Pro
Thank you FX and I will continue to share.
Trading is psychology almost all of it. I love Dr. Alexander Elder who wrote many brilliant books and inspired many great traders including one of my favorites Walter Peters.
Watch him gave this talk which I am sure participants paid to hear but thanks for youtube its free.
Since its a US holiday and low volume its not worth trading and perfect time to spend time on trading education.
Regards to all.
In trading, you have to be defensive and aggressive at the same time
  • #1,089
  • Oct 8, 2012 9:51am Oct 8, 2012 9:51am
Quoting FX-Pro
I don't know much about about this pair...

but looking at the chart alone... i see a pullback & reject from 200EMA with resistance supporting your entry... seems good for now... but personally i would need a better bar/place to enter.... to be safer look for BE ASAP.

Cheers,
FX-Pro
Thanks you very much.
Faith with Action
  • #1,090
  • Oct 8, 2012 10:03am Oct 8, 2012 10:03am
Quoting Davit
Thank you FX and I will continue to share.
Trading is psychology almost all of it. I love Dr. Alexander Elder who wrote many brilliant books and inspired many great traders including one of my favorites Walter Peters.
Watch him gave this talk which I am sure participants paid to hear but thanks for youtube its free.
Since its a US holiday and low volume its not worth trading and perfect time to spend time on trading education.
Regards to all.
Yes! good one...

the best thing to do when you don't see an entry is to Read, Read & Read...

as a trader you have to keep yourself updated at all times...

Cheers,
FX-Pro
  • #1,091
  • Oct 8, 2012 12:54pm Oct 8, 2012 12:54pm
Dear FX-Pro
I hope you are ok. I am using PAC and back testing it for past one week atleast 10 hours a day and it gives good result but some times full candle that crosses both lines 72 ema and 8 ema goes against which should be confirm entry. How ever i have added Early bird and MACD platinum customized indicator to it. which also give entry signals. But I have to determine the entry keeping PAC channel in mind in H1.
I am attaching both of them here Kindly please try it and let me know what you think of it and which TF and parameters work best for you. May be this could help us making a better entry.
Attached File(s)
File Type: ex4 Earlybird.ex4   4 KB | 439 downloads
File Type: ex4 PIP-F_MACD_Platinum.ex4   25 KB | 438 downloads
  • #1,092
  • Oct 8, 2012 2:35pm Oct 8, 2012 2:35pm
A couple of trade from today, not very high prob trades so I took them on demo.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-10-08-20-32-08.png Size: 392 KB
  • #1,093
  • Oct 8, 2012 4:03pm Oct 8, 2012 4:03pm
short order AUDUSD target 1.0150

Regards,
  • #1,094
  • Oct 8, 2012 4:28pm Oct 8, 2012 4:28pm
Quoting fahadkw
short order AUDUSD target 1.0150

Regards,
Why, because 1HR candle closed below EMA 12?
  • #1,095
  • Oct 9, 2012 1:46am Oct 9, 2012 1:46am
I think we could all benefit from some knowledge of Order Flow
In a nut shell Big Hedge Funds ,Banks (big boys) trade with millions and they need liquidity to get their orders fill because during high liquidity they get the best price and pay less commission and pip slippage.
Retail traders pay just a miniscule pip however big institutions because of high trading lot sizes pay significantly higher price hence institutions don't place orders during low volume even if price could be very attractive.
When a price hits a significant levels Fib,around number,S/R during low volume expect price to reject breaking because institutional money is not in the market hence price naturally subsides until high liquidity.

Guys understand this concept right? Price usually can't break a significant level during low liquidity times hence if it reaches a confluence level opposite happens untill high liquduity has the muscle to push either up or down.
Trading during low volume 5-8am EST 1-8pm EST 11pm-2am are generally low volume.
One can take a advantage of this knowledge. if for example Price hits a very high number right after London close expect drop of liquidity and most probably that high will subside 20-50pips before high liquidity again because once again big boys need high volume to get cheap price on order fills.

So you are saying to yourself what is this has to do with this system?
Can be very helpful knowing when is optimal time to trade the system entry.
If sentiment is bearish and Price reached a high level at the end of high liquidity expect price to drop before next high volume period hence your short has a bigger potential to win.
You guys understand this right?
In trading, you have to be defensive and aggressive at the same time
  • #1,096
  • Oct 9, 2012 2:07am Oct 9, 2012 2:07am
I am watching how AU and UJ current candle close.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AU_09.10.12.jpg Size: 97 KB
Click to Enlarge Name: UJ_09.10.12.jpg Size: 89 KB
  • #1,097
  • Oct 9, 2012 3:04am Oct 9, 2012 3:04am
Quoting fahadkw
short order AUDUSD target 1.0150

Regards,
did hit the SL with 40 pip loss , my mistake I should not enter low volume time.

Hi fttrdr,
Yes because the candle closed below EMA 12 , however it was bad decision of me since the market was slow with little volume.
  • #1,098
  • Oct 9, 2012 3:14am Oct 9, 2012 3:14am
Hi Guys,

I think its about the time to go short with EURUSD and AUDUSD , I will wait for the last candle to close below 12EMA

Regards,
Attached Images
  • #1,099
  • Oct 9, 2012 3:55am Oct 9, 2012 3:55am
Quoting fahadkw
Hi Guys,

I think its about the time to go short with EURUSD and AUDUSD , I will wait for the last candle to close below 12EMA

Regards,
fahadkw, be careful, read post 21, according to the rules of the the stop loss
  • #1,100
  • Oct 9, 2012 5:08am Oct 9, 2012 5:08am
Pipsmurfer, I will try next time thanks for the advice.

I placed short order on AUDUSD , target: 1.0158 and another short order on EURUSD , target: 1.2887

Regards,
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