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Another simple system - Time-Frame 15

  • #8,861
  • Oct 9, 2012 1:42am Oct 9, 2012 1:42am
Quoting emmanuel7788
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!
I'll keep in mind brother, thanks for guidance
  • #8,862
  • Oct 9, 2012 1:46am Oct 9, 2012 1:46am
Quoting stevepatt
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
thanks brother steve, now i got more homework, but i love it since i'm jobless
best regard to all
  • #8,863
  • Oct 9, 2012 2:14am Oct 9, 2012 2:14am
Quoting Gibril
Let us pause a moment............ STOP TRADING & PUT YOUR CHART

DOWN,..........


Everyday we talked about OUR Trade Set Up, OUR Entry, OUR Pips...

Ever.........at any point of time anyone here wonder this ?

(See attachment.........one more to round number)



Assuming 7 mins per post

Multiply 2,499 = appox 17,500 mins / 60/ 24

= 12 day.

Says............15 day......for 8 months..........

This does...

Yes he is truly a great man.
Thank you brother Arjun for all you time.
It means alot to all of us.
If it wasnt for your time i wouldnt be making such gains.
You have given us so much. All we have to do study everything in this thread.
Yet some people still dont want to study it at all.
You have done more than enough
X-man the legendary conqueror of markets
  • #8,864
  • Oct 9, 2012 2:25am Oct 9, 2012 2:25am
Pls see the image... can anyone tell me where did i go wrong ??

As per my understanding it was perfect signal to go LONG at highlighted pinbar ?

price was above 200 ema, 800 ema and 10 ema... ? pls tell me if there is anything missing or just an entry tht wud hit SL ?


Regards,
Ali
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 27 KB
  • #8,865
  • Oct 9, 2012 2:28am Oct 9, 2012 2:28am
Just took this long on A/U that got stopped out. It was the first bar of LO, after the pin bar that bounced from the H4 10EMA and the M15 200EMA.

I see the daily 10EMA is down, but price had bounced from support on yesterday daily bar.

I think the problem is there still isn't a clear set of rules that says when we are trading towards an EMA or away from it.
Attached Image (click to enlarge)
Click to Enlarge Name: AU.png Size: 58 KB
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #8,866
  • Oct 9, 2012 2:33am Oct 9, 2012 2:33am
Quoting By_Tor2114
Just took this long on A/U that got stopped out. It was the first bar of LO, after the pin bar that bounced from the H4 10EMA and the M15 200EMA.

I see the daily 10EMA is down, but price had bounced from support on yesterday daily bar.

I think the problem is there still isn't a clear set of rules that says when we are trading towards an EMA or away from it.
I wouldn't have gone long here in the first place. Not until I see some sort reaction to the 10ema.
What is any ocean but a multitude of drops?
  • #8,867
  • Oct 9, 2012 2:34am Oct 9, 2012 2:34am
Quoting Xhale12
I wouldn't have gone long here in the first place. Not until I see some sort reaction to the 10ema.
The reaction was to the H4 10EMA. One of the entries is waiting for a bounce at a HTF EMA and looking for PA on the LTF. The price struck the H4 10EMA and created a bullish pin on LTF.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #8,868
  • Oct 9, 2012 2:35am Oct 9, 2012 2:35am
Quoting Ramjet
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
I took this because it was a PIN bar at the RN , i traded away from the 200ema.
These things arjun has been teaching us all the time.
If you look at charts theres pin bars forming all the time.
But the question is which pin bars do we trade?
We trade the pin bars at the right areas.
Like at the RN , the 200ema , the 10ema. this makes the pin bars very powerful.
X-man the legendary conqueror of markets
  • #8,869
  • Oct 9, 2012 2:36am Oct 9, 2012 2:36am
Quoting By_Tor2114
The reaction was to the H4 10EMA. One of the entries is waiting for a bounce at a HTF EMA and looking for PA on the LTF. The price struck the H4 10EMA and created a bullish pin on LTF.
I understand that. I still won't enter a trade until I see a reaction to the 10ema on the lower time frames. I'm still a beginner in this method myself, but that's my opinion.
What is any ocean but a multitude of drops?
  • #8,870
  • Oct 9, 2012 2:37am Oct 9, 2012 2:37am
This is what we should try and see everyday
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu15min.gif Size: 18 KB
Click to Enlarge Name: gu15.gif Size: 11 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #8,871
  • Oct 9, 2012 2:37am Oct 9, 2012 2:37am
Quoting By_Tor2114
Just took this long on A/U that got stopped out. It was the first bar of LO, after the pin bar that bounced from the H4 10EMA and the M15 200EMA.

I see the daily 10EMA is down, but price had bounced from support on yesterday daily bar.

I think the problem is there still isn't a clear set of rules that says when we are trading towards an EMA or away from it.

but the price did not show any bullish momentum...
price must close above 10EMA
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,872
  • Oct 9, 2012 2:38am Oct 9, 2012 2:38am
Quoting X-Man
I took this because it was a PIN bar at the RN , i traded away from the 200ema.
These things arjun has been teaching us all the time.
If you look at charts theres pin bars forming all the time.
But the question is which pin bars do we trade?
We trade the pin bars at the right areas.
Like at the RN , the 200ema , the 10ema. this makes the pin bars very powerful.
How about that pin I just posted? It was away from the HTF10EMA and the 200EMA on the LTF.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #8,873
  • Oct 9, 2012 2:39am Oct 9, 2012 2:39am
Quoting emmanuel7788
but the prce did not show any bullish momentum...
price must close above 10EMA
Surely a pin can't show bullish momentum, as it appears at the end of a move in the opposite direction.

There are lots of pins being taken on this thread that are bounces off HTF EMAs that aren't closing above the M15 10EMA.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #8,874
  • Oct 9, 2012 2:40am Oct 9, 2012 2:40am
Quoting alij79
Pls see the image... can anyone tell me where did i go wrong ??

As per my understanding it was perfect signal to go LONG at highlighted pinbar ?

price was above 200 ema, 800 ema and 10 ema... ? pls tell me if there is anything missing or just an entry tht wud hit SL ?


Regards,
Ali
I don't see any wrong with this setup. It could have been wrong and right. It is a good setup according to the simple setup. NOBODY says we don't have a lossing trade with this system. You can only be wrong twice. When you buy when other sell or when you sell when other buy. That is my opinion. I am still not a newbees yet
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #8,875
  • Oct 9, 2012 2:41am Oct 9, 2012 2:41am
Pls see the image... can anyone tell me where did i go wrong ??

As per my understanding it was perfect signal to go LONG at highlighted pinbar ?

price was above 200 ema, 800 ema and 10 ema... ? pls tell me if there is anything missing or just an entry tht wud hit SL ?


Regards,
Ali[/quote]

My view for what it's worth is due to the higher tf's.

Yesterday's candle was bearish (albeit holding above the 10EMA). H4 is holding below 10EMA since it broke below during yesterday's asian session.

Then H1 shows a bearish engulf in the last candle closing below the 10EMA.

I agree that on the 15m, the pin could indicate a test and rejection of the 10MA, but my personal view is that candle is more of a spinning top, thus indecision, more than firm test and rejection.

Whilst many experienced traders on here do it successfully, there is a higher risk to trading just before London opens, there can often be fake moves, so unless I see something very clear, I try wait for London to open.

Having said that I took a nice +20 on GU this morning as per attached. My rationale was that D1 and H4 were both bearish and H1 also seemed stuck below the 800EMA.

Coming down to the 15m, I saw it break below 10EMA 3 candles before my entry then 2 pins testing the 10EMA and closing below, confirmed it as a short for me.

If you get an alternative analysis from a more experienced trader, take theirs! but this is my take, I hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 9 oct.gif Size: 19 KB
Getting there, slowly but surely...
  • #8,876
  • Oct 9, 2012 2:41am Oct 9, 2012 2:41am
Quoting emmanuel7788
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!
I like this picture here.
this explains the flow of the market and the relationship of the 10ema from the low tf to the high tf
Its a cycle that happens everyday on all TFs

Nice one buddy
X-man the legendary conqueror of markets
  • #8,877
  • Oct 9, 2012 2:44am Oct 9, 2012 2:44am
Quoting ejiexe
This is what we should try and see everyday
very very nice buddy
You are studying well.
I can see it just by your posts.
X-man the legendary conqueror of markets
  • #8,878
  • Oct 9, 2012 2:50am Oct 9, 2012 2:50am
Quoting alij79
Pls see the image... can anyone tell me where did i go wrong ??

As per my understanding it was perfect signal to go LONG at highlighted pinbar ?

price was above 200 ema, 800 ema and 10 ema... ? pls tell me if there is anything missing or just an entry tht wud hit SL ?


Regards,
Ali
you gotta ask yourself... was that a good breakout?
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 133 KB
  • #8,879
  • Oct 9, 2012 2:52am Oct 9, 2012 2:52am
EU short 1.29791 entry M15......as very often... trendchannel break>bearflag>retrace to ema10, fibo50>resuming downtrend...

Attached Image (click to enlarge)
Click to Enlarge Name: EU H4.png Size: 30 KB
I never lose - either I win or I learn...
  • #8,880
  • Oct 9, 2012 2:55am Oct 9, 2012 2:55am
  •  Jep
  • | Joined Aug 2012 | Status: Creating Multi-Generational Wealth | 99 Posts
Took that same loss as Tor on the AU 15m pinbar for -15. Followed by same trade as Ejiexe for +27 on GU short.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $AUDUSD (15 Min) 10_9_2012.jpg Size: 43 KB
Click to Enlarge Name: $GBPUSD (15 Min) 10_9_2012.jpg Size: 40 KB
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