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Another simple system - Time-Frame 15

  • #9,741
  • Oct 16, 2012 9:19am Oct 16, 2012 9:19am
Thank you sir.

I now understand what the story is with using ADR

This sure looks like a mess with EU. The 4h says long but the 15m hasnt given any sign to get in yet.

Shawn

Quoting pkimnyc
just because price reaching adr doesn't mean you go short. adr reaching it's limit is a guide only, hence good for the tp. larger tf still dominates. yesterday, market's been in accumulation phase after london to asia with 4hr momentum compressed. today, the market just released. meaning, momentum is very powerful and could still be at the beginning stage or in the middle of it, plus we don't have any evidence that the price has topped, except reaching adr and some volume figure. ask yourself if that gives your enough conviction to go against a...
  • #9,742
  • Oct 16, 2012 9:22am Oct 16, 2012 9:22am
Quoting pkimnyc
just because price reaching adr doesn't mean you go short. adr reaching it's limit is a guide only, hence good for the tp. larger tf still dominates. yesterday, market's been in accumulation phase after london to asia with 4hr momentum compressed. today, the market just released. meaning, momentum is very powerful and could still be at the beginning stage or in the middle of it, plus we don't have any evidence that the price has topped, except reaching adr and some volume figure. ask yourself if that gives your enough conviction to go against a...
now we got something to work with the shorts. london close in 2 hrs however. you need to decide whether it's worth the risk or not. for me, i will wait for price to either pull back or consolidate then look for long opportunity.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_3.gif Size: 21 KB
  • #9,743
  • Oct 16, 2012 9:22am Oct 16, 2012 9:22am
Quoting Gibril
This is for educational purposes for LOVEBEES.


Early today..........someone ( can't remember who) went for long at this candle ( Yellow).

Got stopped out.

It is now visison 20/20 , we can see the trade don't work.

Anyone can help LOVEBEES to understand why this set up failed ?

We are here to learn...........

Thank You for your help

wouldn't have considered entering after that pin and just wait until a candle closes above the highs of the first candles above the 30 level.

always open for critique and correction

love and peace
steph
  • #9,744
  • Oct 16, 2012 9:30am Oct 16, 2012 9:30am
Quoting Gibril
This is for educational purposes for LOVEBEES.


Early today..........someone ( can't remember who) went for long at this candle ( Yellow).

Got stopped out.

It is now visison 20/20 , we can see the trade don't work.

Anyone can help LOVEBEES to understand why this set up failed ?

We are here to learn...........

Thank You for your help
Hi,

at the time of the blue candle, the price wasn't above previous high and 200EMA>50pips away AND BRN around so in that case I'll have waited for a stronger signal candle to enter => the pinbar later.
  • #9,745
  • Edited 10:04am Oct 16, 2012 9:31am | Edited 10:04am
EU CT scalping around ADR/RN like yesterday.....+39.8 pips


Attached Image (click to enlarge)
Click to Enlarge Name: EU M15.png Size: 34 KB
I never lose - either I win or I learn...
  • #9,746
  • Oct 16, 2012 9:33am Oct 16, 2012 9:33am
Quoting shawn3245
Im wrong (which I am about 90 pecent of the time lol)

Shawn
me too.
  • #9,747
  • Oct 16, 2012 9:39am Oct 16, 2012 9:39am
Quoting Gibril
This is for educational purposes for LOVEBEES.


Early today..........someone ( can't remember who) went for long at this candle ( Yellow).

Got stopped out.

It is now visison 20/20 , we can see the trade don't work.

Anyone can help LOVEBEES to understand why this set up failed ?

We are here to learn...........

Thank You for your help
i took a trade around this area, looking back i would say that it could have been because of the previous few candles are ranging. a textbook 10 ema bounce off usually pretty clean but the price is a bit all over the place.
also near a brn and from backtesting experience i find when the price reaches these areas its a bit tricky and volitile.
with my nebies eyes i would never have expected a drop of that amount though
  • #9,748
  • Oct 16, 2012 9:44am Oct 16, 2012 9:44am
Quoting jdva
EU CT scalping around ADR/RN like yerterday.....+39.8 pips


Attachment
similar trades could be done successfully on EG, EJ and EA....
I never lose - either I win or I learn...
  • #9,749
  • Oct 16, 2012 9:52am Oct 16, 2012 9:52am
I wouldn't marvel that this pair will fall to at least 0.8050...current 0.8115
I never lose - either I win or I learn...
  • #9,750
  • Oct 16, 2012 9:53am Oct 16, 2012 9:53am
Quote
Originally Posted by Gibril http://www.forexfactory.com/images/buttons/viewpost.gif
This is for educational purposes for LOVEBEES.


Early today..........someone ( can't remember who) went for long at this candle ( Yellow).

Got stopped out.

It is now visison 20/20 , we can see the trade don't work.

Anyone can help LOVEBEES to understand why this set up failed ?

We are here to learn...........

Thank You for your help

Hi Gilbri, not sure whether this is the correct answer but the TDI green was below red at that point therefore should not go long.
  • #9,751
  • Oct 16, 2012 9:57am Oct 16, 2012 9:57am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting Rpt
Hi Gilbri, not sure whether this is the correct answer but the TDI green was below red at that point therefore should not go long.

I noticed that too but did not mention it as Gibril says he does not use TDI. However that was the one of the reasons I did not take that trade at that point.
An expert is a man who has made all the mistakes which can be made
  • #9,752
  • Oct 16, 2012 10:00am Oct 16, 2012 10:00am

Nice to wake up with +61 pip for EJ.Cant trade much due to my busy schedule this coming few weeks.But still manage +20 more with EJ RN & ADR play.
Two trade for + 81pips
  • #9,753
  • Oct 16, 2012 10:02am Oct 16, 2012 10:02am
Thanks LE1 and everyone for this thread.

Yeah I was going to say the same thing about the TDI.
Attached Image
  • #9,754
  • Oct 16, 2012 10:05am Oct 16, 2012 10:05am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting Gibril
That is after the blue candle. Trade taken. Off course we can see hangman (or is it PIN BAR ? ) after we enter............

BUT.........the question is, how so we take precautionary step to avoid this kind of trade.

Just keep the focus up to the BLUE candle only..... We analyse till that point for the time being.


Thank You
Hmmmm...Is it because the blue candle did not bounce off/touch the 10EMA (15TF)? So the majority of buyers that were waiting did not take it as a signal to buy?

My newbee opinion.
An expert is a man who has made all the mistakes which can be made
  • #9,755
  • Oct 16, 2012 10:10am Oct 16, 2012 10:10am
Quote
Originally Posted by Gibril http://www.forexfactory.com/images/buttons/viewpost.gif
That is after the blue candle. Trade taken. Off course we can see hangman (or is it PIN BAR ? ) after we enter............

BUT.........the question is, how so we take precautionary step to avoid this kind of trade.

Just keep the focus up to the BLUE candle only..... We analyse till that point for the time being.


Thank You

Without looking at the TDI. If we are looking at the candle,then the candle is making a lower high.
  • #9,756
  • Oct 16, 2012 10:11am Oct 16, 2012 10:11am
Quoting Gibril
That is after the blue candle. Trade taken. Off course we can see hangman (or is it PIN BAR ? ) after we enter............

BUT.........the question is, how so we take precautionary step to avoid this kind of trade.

Just keep the focus up to the BLUE candle only..... We analyse till that point for the time being.


Thank You
it happens sometimes. just accept it. you can't get perfect entries all the time with the market.
  • #9,757
  • Oct 16, 2012 10:14am Oct 16, 2012 10:14am
Quoting Rpt
Without looking at the TDI. If we are looking at the candle,then the candle is making a lower high.
we are at the supply zone, which was the reason i was hesitant on going short.
  • #9,758
  • Oct 16, 2012 10:15am Oct 16, 2012 10:15am
Quoting Gibril
This is for educational purposes for LOVEBEES.


Early today..........someone ( can't remember who) went for long at this candle ( Yellow).

Got stopped out.

It is now visison 20/20 , we can see the trade don't work.

Anyone can help LOVEBEES to understand why this set up failed ?

We are here to learn...........

Thank You for your help

You can`t light a candle without a clear wick...
  • #9,759
  • Oct 16, 2012 10:16am Oct 16, 2012 10:16am
Quoting Gibril
This is for educational purposes for LOVEBEES.


Early today..........someone ( can't remember who) went for long at this candle ( Yellow).

Got stopped out.

It is now visison 20/20 , we can see the trade don't work.

Anyone can help LOVEBEES to understand why this set up failed ?

We are here to learn...........

Thank You for your help

Well it seems perfect entry for long ..i would have entered blue candle at 10 ema...but i believe it was because of 5 AM EU news..

I dont know much about fundamentals and news though but i know that market equilibrium might get distorted for a while at red news....

And it seems thats what happened there.
  • #9,760
  • Oct 16, 2012 10:19am Oct 16, 2012 10:19am
Quoting loveevery1

INTERPRETATION

IF YOUR EYE BE SINGLE (FOCUSED FROM YOUR BRAIN!) THEN YOUR TOTAL BEING WILL BE FULL OF LIGHT!!!
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