Definitely not an easy day to trade.... Almost all candles have wicks on both sides with just 59 pips of range....
Moving from the playing field to the sidelines...
Moving from the playing field to the sidelines...
- #9,142
- Nov 9, 2012 2:36am Nov 9, 2012 2:36am
Hello guys
Here is an explanation about the concept i was talking about some days ago: Building a case for entry.
In the following charts you will find an explanation about how to think before your entry.
Basically you have to prove to yourself that you have enough reasons to enter the market.
As i mentioned before, you can even start scoring these arguments.
It cant get simpler than what we had today....
Happy green pips to all of you!
Munir
Here is an explanation about the concept i was talking about some days ago: Building a case for entry.
In the following charts you will find an explanation about how to think before your entry.
Basically you have to prove to yourself that you have enough reasons to enter the market.
As i mentioned before, you can even start scoring these arguments.
It cant get simpler than what we had today....
Happy green pips to all of you!
Munir
- #9,148
- Nov 9, 2012 3:45am Nov 9, 2012 3:45am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
Hi Vantage
3 questions to you:
- Who is Mrs V? Its your wife? She is a trader as well?
- Whats lwma that you usually refer to?
- How do you integrate Pivots in your trading plan? Why would you exit at W Pivot? because of confluence with fibs, SR or other?
thanks
Wow can someone pass me a hankie. When family business sucked me back in Mrs V had to take over the trading. I do market assessment at the start of day generally a couple of hours before Lon open. She is free to accept or reject and of course sometimes pa doesn't do what it should (haha) and she has to make a decision. To all intents and purposes she is a newbie.LWMA - linear weighted moving average. I use 8 on all TF's, its very close to the 5 ema + shift used here. I have just added 4hr 8 lwma onto 1hr as a 32lwma, and onto 15 min as 128lwma. Each TF's price generally hugs its 8 lwma closely so on 15 min we can easily see what 4hr (short term) trend is doing. In general buy above sell below. Unless like this morning where there was a multitude of reasons (first and foremost support and resistance) to sell eur even though we were above the lwma's.
We have D pivots and W pivots on charts. See higher low lower high thread post 1 for them. The D pivot indi has an adjustable start time so if your platform is not gmt aligned you can alter. Midnight gmt or 1hr either way is great for trading London session. In blog I have numerous 4 hr charts where the W pivots and SR levels are the over riding factors (seems to me) as to where price is drawn. How to trade them, well trade the reaction to them. Today eur fell from a combo of SR and D R1. With all the reasons mentioned for a sell, 4hrs of struggle to go up, divergence 1hr and 15 min, 15 min head and shoulders the SR and a pivot are added crucial reasons. I don't know if its co-incidence but pa turned to the pip at the W pivot 1.2728 target for our sell OK there is general support and D M2 at 1.2730. The W pivots are way way up there with support and resistance as important factors for entry and exit.
Sorry if long winded and a little off topic.
hi guys,
i dont know if it's just my luck or i am finally getting better and better but I have made lots of money in the past few days
i circled all of my profits in the screenshot. Yesterday I also entered the trade when there was a big sell at 1.2732 but was stopped out at 1.2741 (so lost about -11 pips, including spread). I paid them off with all my profits. I made 28 pips during US election and 90 pips during Euro big selloff the same day. Today I also made 30 pips. I should have entered after the first M15 candle in Frankfurt (was suspecting it would go down because it kept failing to break fibo there) and I wanted to sell if there'd be one big clear red candle in M15 (and there was actually). Unfortunately i overslept because too tired (few hours earlier I was in the gym). When I woke up, it's London Open already so I decided to sell with just 30 pips TP (instead of 50, because I was thinking the other 20 pips was for the sleeping time lol).
*Generally I only entered after frankfurt/london but emmanuel told me (in loveevery1 thread) that we should look at "break" after 5 first hours of asian session and not just waiting until frankfurt/london so decided to standby in front of my PC by that time. Unfortunately I slept for 1 hour lol
also the reason why I took entry early 2 days ago because there was US election so I was sure there would be a big move that morning hehe
i dont know if it's just my luck or i am finally getting better and better but I have made lots of money in the past few days
i circled all of my profits in the screenshot. Yesterday I also entered the trade when there was a big sell at 1.2732 but was stopped out at 1.2741 (so lost about -11 pips, including spread). I paid them off with all my profits. I made 28 pips during US election and 90 pips during Euro big selloff the same day. Today I also made 30 pips. I should have entered after the first M15 candle in Frankfurt (was suspecting it would go down because it kept failing to break fibo there) and I wanted to sell if there'd be one big clear red candle in M15 (and there was actually). Unfortunately i overslept because too tired (few hours earlier I was in the gym). When I woke up, it's London Open already so I decided to sell with just 30 pips TP (instead of 50, because I was thinking the other 20 pips was for the sleeping time lol).
*Generally I only entered after frankfurt/london but emmanuel told me (in loveevery1 thread) that we should look at "break" after 5 first hours of asian session and not just waiting until frankfurt/london so decided to standby in front of my PC by that time. Unfortunately I slept for 1 hour lol
also the reason why I took entry early 2 days ago because there was US election so I was sure there would be a big move that morning hehe
btw i love this method more than the M15 one. Even though it's very similar (even the seniors there are the same with the ones in here lol) but I generally cant stay in front of my computer all the time. With this method I only need to see the chart once every 30 minutes or so although sometimes i will standby in front of my computer when I believe a setup will be made soon. My computer has 4 charts, M15, H1, H4, and a clean H1 chart (without synergy bars, TDI, and the rest of indies). I finally understand why dee50 said it's also important to see PA in M15 to finetune our entries. 
Thanks guys. I will keep learning from all of you. Hopefully I can make consistent profit for many many years to come
Thanks guys. I will keep learning from all of you. Hopefully I can make consistent profit for many many years to come
- #9,151
- Nov 9, 2012 6:20am Nov 9, 2012 6:20am
hi guys,
i dont know if it's just my luck or i am finally getting better and better but I have made lots of money in the past few days
i circled all of my profits in the screenshot. Yesterday I also entered the trade when there was a big sell at 1.2732 but was stopped out at 1.2741 (so lost about -11 pips, including spread). I paid them off with all my profits. I made 28 pips during US election and 90 pips during Euro big selloff the same day. Today I also made 30 pips. I should have entered after the first M15 candle in Frankfurt (was...
- #9,152
- Nov 9, 2012 6:29am Nov 9, 2012 6:29am
Hi guys and gals (I know that at least we have one lady among us - Mrs V 
)
I have been learning a little bit about inside bars.
Could some of you clarify how do you interpret and trade them?
Can you easily see them using HA candles?
thanks for the help
Munir
)I have been learning a little bit about inside bars.
Could some of you clarify how do you interpret and trade them?
Can you easily see them using HA candles?
thanks for the help
Munir
- #9,153
- Nov 9, 2012 6:33am Nov 9, 2012 6:33am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
Hi guys and gals (I know that at least we have one lady among us - Mrs V
I have been learning a little bit about inside bars.
Could some of you clarify how do you interpret and trade them?
Can you easily see them using HA candles?
thanks for the help
Munir
I don't really use them, my over riding focus is on engulfing closes. There are so many candle patterns that basically come back to an engulfing close. I define that as any candle that closes above/below the prev 2 closes.
