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Another simple system - Time-Frame 15

  • #8,841
  • Oct 8, 2012 6:50pm Oct 8, 2012 6:50pm
be cautious tonight. draghi speaks at lodnon session.
  • #8,842
  • Edited 8:01pm Oct 8, 2012 7:50pm | Edited 8:01pm
Quoting Pip26
anybody took this?????
Hi ya Pip26..

Is it possible you could explain why you were so confident in this trade working out as I've marked up problem areas on the chart that would have warned me off..or is this just a matter of chart time and experience?..
Also would this actually be a case of your signal bar bouncing off the 10ema giving you confidence in the trade?..

Thanks for any advice/help please

Cheers,
Adrian
Attached Image (click to enlarge)
Click to Enlarge Name: Au-Usd.png Size: 16 KB
  • #8,843
  • Oct 8, 2012 7:57pm Oct 8, 2012 7:57pm
Quoting X-Man
GJ pin on the RN .
trading away from the RN and away from the 200ema.
+20 pips
Hi ya X-Man..

Could I just ask what gave you the confidence in this PB working out as I've been taught to look for large bars..
1. Is it the fact it was bouncing off the RN
2. Large bearish bar couple of bars back
3. Bouncing back off the 10ema

Thanks for any advice/help please

Cheers,
Adrian
  • #8,844
  • Oct 8, 2012 8:25pm Oct 8, 2012 8:25pm
Hi,

An early Tokyo open setup for AU

Trade Well!
Attached Image (click to enlarge)
Click to Enlarge Name: AU 9 Oct 9-10-2012 9-16-40 AM.png Size: 24 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,845
  • Oct 8, 2012 9:34pm Oct 8, 2012 9:34pm
GU
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  • #8,846
  • Oct 8, 2012 9:55pm Oct 8, 2012 9:55pm
Quoting ddrenlee
GU

how confident are you in a CT trade?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,847
  • Oct 8, 2012 10:04pm Oct 8, 2012 10:04pm
Quoting tango-1
Market Analisys...

Any advice and comment is welcome....
thanks....
Agree with pkimnyc.

Currently, price is still stuck in between 200ema and 800ema. should wait either break to the upside or the downside for the trade direction and later enter on the pullback/retracement.

But I am more bias to the upside since we have the bullish engulfing candle on the weekly plus yesterday, price has already did retrace and rejected at the daily 10ema. (i.e. G-Spot- term borrowed from our beloved Gibril)

Better do not predict the market, response to it instead..

My humble Pre-NEWBIE opinion. (not even a NEWBIE yet)
  • #8,848
  • Oct 8, 2012 10:08pm Oct 8, 2012 10:08pm
a picture is worth more than a thousand words...

Trade Well!
Attached Image (click to enlarge)
Click to Enlarge Name: GU Big Picture.png Size: 48 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,849
  • Oct 8, 2012 10:09pm Oct 8, 2012 10:09pm
Quoting d.narrow
Agree with pkimnyc.

Currently, price is still stuck in between 200ema and 800ema. should wait either break to the upside or the downside for the trade direction and later enter on the pullback/retracement.

But I am more bias to the upside since we have the bullish engulfing candle on the weekly weekly plus yesterday, price has already did retrace and rejected at the daily 10ema. (G-Spot- term borrowed from our beloved Gibril)

My humble Pre-NEWBIE opinion. (not even a NEWBIE yet)
you right d.narrow.. we must wait until break...
fortunately... I try this entry at demo account.. just to test my analisys capability..

thanks....
I'm an under training pips hunter
  • #8,850
  • Oct 8, 2012 10:13pm Oct 8, 2012 10:13pm
Something to think about during the week, people who just join in and wants to learn this great system quickly. Take the time to backtest it.
Crawl before you walk.
E.g. Trade with the trend on 15min charts only.


I went past the field of the sluggard (laziness), past the vineyard of the man who lacks judgment (understanding). Proverbs 24:30
Attached Image (click to enlarge)
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  • #8,851
  • Oct 8, 2012 10:36pm Oct 8, 2012 10:36pm
Quoting emmanuel7788
how confident are you in a CT trade?
ow, for u it look like CT entry ? .. i'm wrong .... i should find another entry ... sorry, i don't know bout CT ... just try to learn Lovevery1 system .. i'm new bout forex .. need simple system first to learn .. but after try this .. i think i need to learn bout PA ,S&R , EMA first ... any reference for this ?
thanks emmanuel
  • #8,852
  • Oct 8, 2012 10:54pm Oct 8, 2012 10:54pm
Quoting ddrenlee
ow, for u it look like CT entry ? .. i'm wrong .... i should find another entry ... sorry, i don't know bout CT ... just try to learn Lovevery1 system .. i'm new bout forex .. need simple system first to learn .. but after try this .. i think i need to learn bout PA ,S&R , EMA first ... any reference for this ?
thanks emmanuel
Hi ddrenlee
I'm afraid there is no shortcuts. I would encourage you to read the whole thread. Even if takes 3 weeks (which I done). Then back test it. There many excellent post here by Loveevery1 (LE1). He has all your answers.

I know its hard work, but you'll appreciate the content more, rather than getting quick answers (which cheapen the value of your research).
  • #8,853
  • Oct 8, 2012 11:05pm Oct 8, 2012 11:05pm
Quoting d.narrow
Agree with pkimnyc.

Currently, price is still stuck in between 200ema and 800ema. should wait either break to the upside or the downside for the trade direction and later enter on the pullback/retracement.

But I am more bias to the upside since we have the bullish engulfing candle on the weekly plus yesterday, price has already did retrace and rejected at the daily 10ema. (i.e. G-Spot- term borrowed from our beloved Gibril)

Better do not predict the market, response to it instead..

My humble Pre-NEWBIE opinion. (not even a NEWBIE yet)...
Please be careful when reading candles. Only take the candles at very important levels, such as support and resistance, and when candles appear in decent amount of time spent in a trend or consolidation. That is not the case with that bullish engulfing in weekly chart.
  • #8,854
  • Oct 8, 2012 11:05pm Oct 8, 2012 11:05pm
Quoting fxdivergence
Hi ddrenlee
I'm afraid there is no shortcuts. I would encourage you to read the whole thread. Even if takes 3 weeks (which I done). Then back test it. There many excellent post here by Loveevery1 (LE1). He has all your answers.

I know its hard work, but you'll appreciate the content more, rather than getting quick answers (which cheapen the value of your research).
thanks fxdiv, i still read it just finish 1/4 thread,just try to implement it ...
btw thanks for advice , i appreciate it ..
  • #8,855
  • Oct 8, 2012 11:42pm Oct 8, 2012 11:42pm
Hi,

here is something I am looking at now.

Have a look at D1 and W1 chart first before you make your trading decision.

Trade Well!
Attached Image (click to enlarge)
Click to Enlarge Name: EJ M15 9 Oct 9-10-2012 12-35-51 PM.png Size: 34 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,856
  • Oct 8, 2012 11:52pm Oct 8, 2012 11:52pm
Quoting ddrenlee
ow, for u it look like CT entry ? .. i'm wrong .... i should find another entry ... sorry, i don't know bout CT ... just try to learn Lovevery1 system .. i'm new bout forex .. need simple system first to learn .. but after try this .. i think i need to learn bout PA ,S&R , EMA first ... any reference for this ?
thanks emmanuel
hi Dee,

For me, on M15 when I see the price is below the 200EMA any buy trade would be CT even if there is PA with 10EMA / 50 EMA.

Zoom out and see the flow of the last 2 weeks. Also look at the recent D candlestick pattern...yesterday closed very bearish, so expect to see some correction before market decide on bullish reversal or continuation downwards.

Be patient, always wait for higher probablility type of setups.

Trade Well!
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,857
  • Oct 9, 2012 12:02am Oct 9, 2012 12:02am
price hit some resistance ...

will this be the first sign of bearish move back to the major trend?
Attached Image (click to enlarge)
Click to Enlarge Name: AU M15 9 Oct GMT0500 9-10-2012 12-58-41 PM.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,858
  • Oct 9, 2012 12:26am Oct 9, 2012 12:26am
Quoting ddrenlee
thanks fxdiv, i still read it just finish 1/4 thread,just try to implement it ...
btw thanks for advice , i appreciate it ..
No problems. You'll will treasure the findings. As much as I have.
Once you read everything, and you can't find the answers. Many of the good traders will be happy answer your questions, as we are here to help each other.
  • #8,859
  • Oct 9, 2012 12:37am Oct 9, 2012 12:37am
Quoting ddrenlee
ow, for u it look like CT entry ? .. i'm wrong .... i should find another entry ... sorry, i don't know bout CT ... just try to learn Lovevery1 system .. i'm new bout forex .. need simple system first to learn .. but after try this .. i think i need to learn bout PA ,S&R , EMA first ... any reference for this ?
thanks emmanuel
Hi Ddrenlee,

If you are totally new to forex it will be better to start here until you get your head around the basics of trading.

http://www.babypips.com/school/?ctt_...FXIQtAodOyAAbA
  • #8,860
  • Oct 9, 2012 1:13am Oct 9, 2012 1:13am
I think is what he keeps telling us. Daily candle close exactly on 10ema. We should also look at resistance ahead. This has given us the daily bais and we can then go to m15 and look for the basic setup.
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