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Simple Money Making Method

  • #1,381
  • Oct 17, 2012 1:41am Oct 17, 2012 1:41am
(attention, 4Hourly chart!!)

the candle that pirced the 200 EMA is also a potential swing candle. Picture worth a thousand words..

Low RRR (risk reward ratio) here. I just shorted. It's really a TINY stop..

Not meant as a trading rec for u guys, just to watch it. It is a singn to consider exit your long here also.

Ciara




Quoting FX-Pro
Attention folks,

worth watching this one.... keep a tab on this..
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Ideas shape the course of history
  • #1,382
  • Oct 17, 2012 1:56am Oct 17, 2012 1:56am
Quoting Ciara
(attention, 4Hourly chart!!)

the candle that pirced the 200 EMA is also a potential swing candle. Picture worth a thousand words..

Low RRR (risk reward ratio) here. I just shorted. It's really a TINY stop..

Not meant as a trading rec for u guys, just to watch it. It is a singn to consider exit your long here also.

Ciara
Hi Ciara
As long as Euro is climbing its tagging others along.
I am watching key area on Euro 3168 for bigger short if price reaches there.
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In trading, you have to be defensive and aggressive at the same time
  • #1,383
  • Oct 17, 2012 2:01am Oct 17, 2012 2:01am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
It does thank you- I still have some questions, but will only ask one.

It seemed to me that once triggered into a trade, the use of the 12EMA was excellent to remain on the "wave".

With the exception of glaring pinbars or other formations, until price closes above or below the 12EMA you stay in the trade. I thought this was awesome for removing speculation as to when one should exit a trade.

How are you determining when a trade can be safely exited?

Quoting Ciara
The lines are OK. Only the time frame is 4-hourly bar chart.
The "envelopes" are 8 EMA low and 8 EMA high, 72 EMA and 200 EMA.

To get the broader picture it is wise to watch these too (H4 and D1).

My view of the benefits of 8-8 EMAs substituting the 12 EMA:

8-8 EMAs are replacing the 12 EMA in order to get the PAC (PA Channel) to serve for three reasons:
1) To determine the strength of the signal (the deeper the entry after the 72 EMA rejection, the better the signal i.e. the strenght of the entry point)
2) To avoid RANGE markets (candlesticks...
  • #1,384
  • Oct 17, 2012 2:10am Oct 17, 2012 2:10am
Good question 9er. Not an easy answer.

Ill answer w respect to my view only..

There are many things one has to watch. There is 200 EMA, confluence zone (see my ydy's euro daily chart), resistance lines..gotta watch the broader picture too - H4 and D1.

Then, as Davit mentioned earlier, there are other parts of the market, like euro, S&P500 futures, commodities (like gold and crude).

For a very short term, while riding the wave (one of the 8 EMAs), the overshooting is also a sign of excessive optimism and the return back into the PAC (leaving the wave) too.

"That's the business we have chosen " (The Godfather)

Regards,

Ciara

Quoting 9er
It does thank you- I still have some questions, but will only ask one.

It seemed to me that once triggered into a trade, the use of the 12EMA was excellent to remain on the "wave".

With the exception of glaring pinbars or other formations, until price closes above or below the 12EMA you stay in the trade. I thought this was awesome for removing speculation as to when one should exit a trade.

How are you determining when a trade can be safely exited?
Ideas shape the course of history
  • #1,385
  • Oct 17, 2012 2:14am Oct 17, 2012 2:14am
Quoting Davit
Hi Ciara
As long as Euro is climbing its tagging others along.
I am watching key area on Euro 3168 for bigger short if price reaches there.

Great. It makes sense. We'll know the answer soon.

regards,

Ciara
Ideas shape the course of history
  • #1,386
  • Oct 17, 2012 2:22am Oct 17, 2012 2:22am
EURO "ZONE"

Quoting Ciara
Great. It makes sense. We'll know the answer soon.

regards,

Ciara
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Ideas shape the course of history
  • #1,387
  • Oct 17, 2012 5:51am Oct 17, 2012 5:51am
Hi , I have shorted eur from 1.3122. I hope its a valid entry as it was forming double top formation on daily and strong resistance too. But it seems bullish on H1.
  • #1,388
  • Oct 17, 2012 7:02am Oct 17, 2012 7:02am
Quoting newride
Hi , I have shorted eur from 1.3122. I hope its a valid entry as it was forming double top formation on daily and strong resistance too. But it seems bullish on H1.
Hi Newride,

Where did you see the trigger here, if you are looking for this level marked on the chart, you should have waited till you get the price there.... & then get down to the lower time frame to enter the trade with the PA confirmations like LL LH etc...

I request all the noobs to stick to the rules until you get used to it, in course of time you will get the confidence to trade they way you want... meaning you will end up creating your own edge to enter the trade... your own plan to trade, till then stick to the rules, i know its difficult to wait for the trade.... takes a long time.... but think it another way you are not loosing your money by entering bad trades....

Cheers
FX-Pro
Attached Image
  • #1,389
  • Oct 17, 2012 7:10am Oct 17, 2012 7:10am
Quoting newride
Hi , I have shorted eur from 1.3122. I hope its a valid entry as it was forming double top formation on daily and strong resistance too. But it seems bullish on H1.
I guess you are posting on the wrong thread
  • #1,390
  • Oct 17, 2012 7:11am Oct 17, 2012 7:11am
I like what I see, thanks all for sharing.

Would someone mind pointing me towards the post with the most up to date rules and recommended indicators. I see now that a PAC is incorporated and the early part of the thread talk about re-entry etc.

May your quest for Pips be fruitful honorable traders.......
  • #1,391
  • Oct 17, 2012 7:14am Oct 17, 2012 7:14am
Quoting squidge42
I like what I see, thanks all for sharing.

Would someone mind pointing me towards the post with the most up to date rules and recommended indicators. I see now that a PAC is incorporated and the early part of the thread talk about re-entry etc.

May your quest for Pips be fruitful honorable traders.......
There is a link provided at the end of the first post... for the latest update.... please go ahead...
  • #1,392
  • Oct 17, 2012 7:50am Oct 17, 2012 7:50am
Quoting FX-Pro
A little in-depth on A/U 4H, though most of the sentiment says long, here are some barricades for bulls...
Looks like Barricades are broken.... however can expect a retracement at the moment....

Cheers,
FX-Pro
  • #1,393
  • Oct 17, 2012 8:33am Oct 17, 2012 8:33am
Hi,
I am new to this thread but by no mean new to trading. I like the simplicity of this system. I am the type of trader who likes to jump the gun but I am determined to be more discipline with this method of trading by following the rules.
I think the most difficult part of trading is to stay discipline and follow the rules of the system that we are trading.
So I'd like to thank Fx Pro for sharing this method of trading.
  • #1,394
  • Oct 17, 2012 8:51am Oct 17, 2012 8:51am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Bear with me - few more questions, I am still trying to determine if your entry strategy changed:

You Wrote:To determine the strength of the signal (the deeper the entry after the 72 EMA rejection, the better the signal i.e. the strength of the entry point)

My Question: So after price rejects off the 72 EMA, the deeper into the PAC it goes the stronger the signal?

I assume we still take the entry of the particular candle that rejected from the 72 EMA (once it closes of course)?

Are the only signals taken those which have rejected off the 72? Or are crosses (closing above/below the 72) considered as well?





Quoting Ciara
The lines are OK. Only the time frame is 4-hourly bar chart.
The "envelopes" are 8 EMA low and 8 EMA high, 72 EMA and 200 EMA.

To get the broader picture it is wise to watch these too (H4 and D1).

My view of the benefits of 8-8 EMAs substituting the 12 EMA:

8-8 EMAs are replacing the 12 EMA in order to get the PAC (PA Channel) to serve for three reasons:
1) To determine the strength of the signal (the deeper the entry after the 72 EMA rejection, the better the signal i.e. the strenght of the entry point)
2) To avoid RANGE markets (candlesticks...
  • #1,395
  • Oct 17, 2012 8:53am Oct 17, 2012 8:53am
Hello everyone!
RN bounce on AU ?
But perhaps at this point it might be risky for a re-entry
  • #1,396
  • Oct 17, 2012 9:00am Oct 17, 2012 9:00am
Quoting 9er
My Question: So after price rejects off the 72 EMA, the deeper into the PAC it goes the stronger the signal?
Yes

Quoting 9er
I assume we still take the entry of the particular candle that rejected from the 72 EMA (once it closes of course)?

Are the only signals taken those which have rejected off the 72? Or are crosses (closing above/below the 72) considered as well?
No I don't take the crosses, here is the basic concept of this method, hope this helps, please let me know if you need more clarity on this....

http://www.forexfactory.com/showthre...21#post6016221

Cheers,
FX-Pro
  • #1,397
  • Oct 17, 2012 9:09am Oct 17, 2012 9:09am
Quoting diver78
Hello everyone!
RN bounce on AU ?
But perhaps at this point it might be risky for a re-entry
Hi D78,

Welcome aboard!

Its is not a bounce, its a cross, bounce will appear followed by a pull back.

Cheers,
FX-Pro
  • #1,398
  • Oct 17, 2012 9:12am Oct 17, 2012 9:12am
Quoting FX-Pro
Hey Guys....

I've been trading this Method for almost 2 Years Now... with 80%+ Winning rate...

This is the Cream of what I've learnt from different Forum/thread.... used almost every indicator available.... tried all possible combinations…

Finally Ended up With Price Action, Supply Demand & the Trend.... this is more than enough to make pretty good money from this business... & I’m the witness for it.

Objective of this thread….

To Help Newbies, & to Learn from the Experts.

Who Can Trade This?

This...
Hi Fx-Pro,

I'm a newbie in this trading and searching for new techniques/ methods of trading. Although I use few techniques successfully on currency pairs like eur/usd, usd/chf, gbp/usd and eur/jpy, but my all techniques doesn't suit with Aud/Usd. Your one seems very effective on this pair. But, I've few things to know before trying your one as below:

1. For short trade, when a single or two candle simultaneously rejected at 72ems, then shall I wait for another can to complete below 12 ema?

2. What would be your suggestion for TP, is it 1:1 or 2:1?

3. Is this technique can also be applicable on longer time frames like Daily or Weekly?

I would be really thankful to you, if you can answer my above queries.
  • #1,399
  • Oct 17, 2012 9:37am Oct 17, 2012 9:37am
[quote=shovon;6107705]Hi Fx-Pro,

I'm a newbie in this trading and searching for new techniques/ methods of trading. Although I use few techniques successfully on currency pairs like eur/usd, usd/chf, gbp/usd and eur/jpy, but my all techniques doesn't suit with Aud/Usd. Your one seems very effective on this pair. But, I've few things to know before trying your one as below: [quote=shovon;6107705]

I'm totally opposite to you... i'm good only with A/U, slowly catching up with other pairs now.... A/U is one of the steady pair, you will learn it faster...

Quoting shovon
1. For short trade, when a single or two candle simultaneously rejected at 72ems, then shall I wait for another can to complete below 12 ema?
basically i look for a single candle reject from 72 EMA Close below 12EMA for entry, which means the strength of the reject is strong, which will turn as a potential trade, if it takes more than one bar to close below 12EMA after the reject from 72 EMA, i will look for a different trade...

Quoting shovon
2. What would be your suggestion for TP, is it 1:1 or 2:1?
1
Divide your lots into two , close the first half with 1:1, while moving the other half to BE to ride the complete trend, this way you will hold the position for a day or two...

Quoting shovon
3. Is this technique can also be applicable on longer time frames like Daily or Weekly?
Nope, I never tried, but i look at bigger time frame to get a wider view of the pair....

Hope this helps

Cheers,
FX-Pro
  • #1,400
  • Oct 17, 2012 9:45am Oct 17, 2012 9:45am
A/U out of channels now...
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