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Another simple system - Time-Frame 15

  • #14,421
  • Nov 16, 2012 3:53am Nov 16, 2012 3:53am
Quoting Ciara
Another scalloping specimen:

December Futures Contracts on S&P 500 index..
Hourly bars, continued trading, same as FX markets.

Ciara

hmmm. this look delicious...........

Can you really apply the same skill in other markets..futures, emini, S&P ?

wow....i didn't know that.


Am happy to learn lot of things today....

Thank You Pips Princess.


giBriL
  • #14,422
  • Nov 16, 2012 3:53am Nov 16, 2012 3:53am
Quoting Vantage
If you are going to dip your toe into CT then some items on your check list you might wish to consider:

- a genuine SR level, see high 17 Sep 103.82
- a W pivot 103.70 or other key higher TF confluence e.g. fib etc
- a lower high following divergence, see arrows down
- evidence over time (ie not just 1 candle) that the flow has changed, in this case the higher high higher low flow clearly flipped over see the arrows down (they also are negative engulfing closes)

A confluence of basic pa items that really together screams 1 direction or other....
All good advice, but the most important thing is that you're a fellow Rush fan
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,423
  • Nov 16, 2012 3:53am Nov 16, 2012 3:53am
Thanks so much Arjun for such an opportunity to learn such a wonderful way of trading! It is such a privelege! Rest assured the needy shall never be forgotten. It has always been my heart cry to be able to meet the needs of so many many needy and unpriveleged folks around me. Now I can see that dream coming to pass! And all because you made yourself available to be used to teach us. Thanks again sir. You will forever be in my prayers.
Jordan.
  • #14,424
  • Nov 16, 2012 3:56am Nov 16, 2012 3:56am
Emannuel, Gibril and whoever feels like helping me out, plse.

Attached my M15-chart for EUR/USD.

To the left @ 02h30 at close as the previous candle "overheated" and also profit taking according to the "Better Volume" indicator.

Entry marked (1.) where the Yellow arrow indicated that the RSi had signalled a short, but the 800-ema has offered support for the past ±24 hrs, therefore I waited for the break. The very next candle tested the 10-ema and dropped through the 800-ema, "overheating" in the process, which indicates in 92% of the time that the price will either stall or retrace, followed by 2 successive candles of profit-taking and a bounce on the 200-ema in Blue (looking to the right it also shows that it represents the 10-ema_H4 and therefore a significant support.

Retrace happened as predicted and price tested 800-ema again, briefly breaking the 10-ema. Price is rejected by 800-ema in candle marked (2) and ideally one could have shorted on the open of the next candle. But, what about the 200-ema immediately below? There is not enough pips according to Arjun and confirmed by many successful traders here.

Price travels to touch the 400-ema and gets bounced off and comes back to retest the 10-ema and put a PIN through the 10-ema before receding (marked with Magenta triangle) and theoretically one could have entered again at the open of the next long Red candle, except for the 400-ema?

I would appreciate hearing from you as to how you handle a situation like this or better still how you handled this trade anyway.

Thanking you most sincerely,
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Hercs
  • #14,425
  • Nov 16, 2012 3:56am Nov 16, 2012 3:56am
Quoting jordfx
Wow! Impeccable explanations from you as usual! Thanks so much sir! Really appreciate your time to teach me. Thank you. Thank you.

Hello Jord..........

Im the one who should thank you.

See Emmanuel adding to the answer........That's how I learn from this thread.

Because most of Senior Traders will help us LOVEBEES ( me too) and they don;t use STOP LOSS to extent their knowledge to us.

Thanks again to learn from each other.


giBriL
  • #14,426
  • Nov 16, 2012 3:58am Nov 16, 2012 3:58am
learning purpose...are these bounces indicating it may jump up from 2ooEMA
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  • #14,427
  • Nov 16, 2012 3:59am Nov 16, 2012 3:59am
Morning @ all,
after LO open i got now 18 pips on EU after pullback candle

Can i do something better?
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  • #14,428
  • Nov 16, 2012 4:05am Nov 16, 2012 4:05am
Quoting pinux76
ook you have all the reason
but for my stupid neuron the first thing is to check the trend
and i use the 200 ema over i check PA and pattern for entry long
and below the 200 ema i check PA and pattern for entry short

if you can put me in the right view i think i can made something and help
the other to understand
Hi Pinux...........

My first 6 months of trading with Arjun method is purely based on what you've mentioned above. FULL STOP.

Only this month November ( that is 11 months into forex), I learn to do CT.

You may want to go with Basic prpoper set up first, before venturing into CT.

Coz I remember our Brother X-Man advise Lovebees to be careful with CT, it can reverse very quickly, unless you know how to read Chart and Candle pattern.

I'm still learning how to CT, hoping one day get some lesson from X-Man and Imi. ( both of them are super )

Stay on the right track first, then you built up skills for next 6 months and you will become PRO.

It's going to be less than ONE YEAR to be skillful with Arjun method.... Unless you keep on jumping.


giBriL
  • #14,429
  • Nov 16, 2012 4:06am Nov 16, 2012 4:06am
Quoting jordfx
Wow...these truly look like masterful trades...!
I'm still confused about something though sir....
I notice your entry was just above the 800ema...which is just 11pips away from the 200ema...for a Newbie like me...just trading for two months now... would it be better to wait for break of 200ema before entering trade? Thanks so much sir for the kind efforts at teaching us. I'm eager to learn!
first, you must realise that I have been following EU since Monday and I got into rhythm with EU since. I also highlighted two price levels in one previous post.
Why did I take this trade with 200EMA and 800EMA so close by on M15?
I trade H4 TF and look for CS patterns.
H4 Inside Bar breakouts (BO) are high probability trades. Just do your backtests this weekend and spot those H4 IBs and see the BO. You only need to know where the direction of the BO and when you use this in M15 charts and with Arjun 10EMAs with view of the higher TF Price Action, these will help you get into the BO.
In the case of my trade, there was a good H1 PB at 10EMA. Although this happen before the H4 IB BO levels, the initial risk is small 10pips + spread 1pip (within my usual 10~20pips for quick decision).
From my entry level to the M15 200EMA, there is enough room for me to BE my trade at +1R.
From experience, price do not stop right at the MAs. Often price will over run or punch through the MAs. If price stop before any MA, there must be something else there which we missed seeing. The RN 1.2750 below 200EMA was my concern. With enough room to BE my trades, this was easy decision to take the trade.
Look higher TF is my advice to all traders. This give you higher probability trades. M15 is fine tuning entries and better timing, besides it will limit your losses with smaller initial stops.
The game here is to play with R-Multiple.
Now I am watching if W will close doji or spinning top. And prepare for next week.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #14,430
  • Nov 16, 2012 4:08am Nov 16, 2012 4:08am
Quoting emmanuel7788
Market Psychology:




2 D bullish rally, do you want to chase running bulls?

where do yesterday's Buyers have their stops in worst case? 102.80 is my technical guess, but that is rather deep.
No place for Spanish corrida here!
102.8 is 61.8% retracement from yesterday move... let's see what market say! Now it looks like a rejection above 103. I am wondering if want to test 103...
  • #14,431
  • Nov 16, 2012 4:10am Nov 16, 2012 4:10am
Quoting Hercs
Emannuel, Gibril and whoever feels like helping me out, plse.

Attached my M15-chart for EUR/USD.

To the left @ 02h30 at close as the previous candle "overheated" and also profit taking according to the "Better Volume" indicator.

Entry marked (1.) where the Yellow arrow indicated that the RSi had signalled a short, but the 800-ema has offered support for the past ±24 hrs, therefore I waited for the break. The very next candle tested the 10-ema and dropped through the 800-ema, "overheating" in the process, which indicates in 92% of the...
Hello Hercs,

For one thing to start with. Remove all the man made stuff from your charts and look deep at the forest green.

See what I mean (ATTACHMENT):
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #14,432
  • Nov 16, 2012 4:10am Nov 16, 2012 4:10am
Quoting Xhale12
That BRN coming soon. I'm going LONG when we break it. TP set at page 10,000. No stop loss lol
LIKE!
If ask a silly question.. forgive me!i'm just confused again!
  • #14,433
  • Edited 4:21am Nov 16, 2012 4:14am | Edited 4:21am
SPIKEY PA

Can someone help out?

If you compare the PA of EU against EJ this week, you can notice that EU was far more spikey, with longer wicks, than EJ.
I found EU far more difficult to trade as, in my mind, there was a lot more uncertainty, more second-guessing.
EJ on the other hand, had a smoother movement, expecially on M15 and H4 and although i didn't trade it (until today), i can kick myself for not considering it.
This is a problem when as a newbie, you are trying to learn on one pair, like EU. I can believe that any newbie who traded just EU would have had a difficult time trying to make trading decisions. Just shows that other pairs should be considered.

My question is this: Apart from eyeballing the PA of individual pairs, is there any other means of determining whether a particular pair should be avoided temporarily because of the spikes. Any volatility studies, perhaps.

Axiom
  • #14,434
  • Nov 16, 2012 4:14am Nov 16, 2012 4:14am
Quoting Mr.Deghayes
learning purpose...are these bounces indicating it may jump up from 2ooEMA
Mr. Deghayes, for the past five hours on your chart, sellers have been really strong... yes there's been a breakout from the 200ema..a pullback....and now awaiting a continuation... but signal has not been given yet. to be safe...wait for buyers to close price above 10ema(Arjun rules?)...and then possibly a pinbar?....just my newbie thots...I'm still; learning too...
  • #14,435
  • Nov 16, 2012 4:15am Nov 16, 2012 4:15am
EUR/USD: +15 (think few took - still catching up on todays busy thread!)

Entry: 1.2749 & 1.2756 (break of 200ema and candle + retest of 10ema)
Exit:1.2739 & 1.2734 (support and fib piv s1)

Attaching charts as usual.

Also attached my trading platform chart which shows the trades.

Had couple of pm's yesterday asking why no trades show on the MT4 charts i display. I do not trade on MT4. I trade on sep platform - dasboard feature which allows for quick execution and auto sl placement (which i can tweak after if needed) - think important for my style as a scalper. Also much easier when scaling in and out of a position. MT4 platforms i merely use for charting.

I think the charts with some info is good for newbies in terms of always looking out for the basics first - well thats what i do! Helps me also in reviewing all weekly trades as history.
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  • #14,436
  • Nov 16, 2012 4:20am Nov 16, 2012 4:20am
Quoting emmanuel7788
first, you must realise that I have been following EU since Monday and I got into rhythm with EU since. I also highlighted two price levels in one previous post.
Why did I take this trade with 200EMA and 800EMA so close by on M15?
I trade H4 TF and look for CS patterns.
[font=Verdana]H4 Inside Bar breakouts (BO) are high probability trades. Just do your backtests this weekend and spot those H4 IBs and see the BO. You only need to know where the direction of the BO and when you use this...


".......From experience, price do not stop right at the MAs. Often price will over run or punch through the MAs. If price stop before any MA, there must be something else there which we missed seeing." Thanks so much Emmanuel for the kind teaching. I am indeed so so grateful! Your words are as Gold! I am learning so much from you! Pls don't stop teaching us. Thank u so much!
  • #14,437
  • Nov 16, 2012 4:24am Nov 16, 2012 4:24am
Quoting ForexNerds
Avoid!

P.S.:Not my work, found it somewhere on the forum (I think Islander was the author's name)
You'll be amazed "Forexnerd" how often this your diagram happen, countless.

I think im getting a better feel of the application of the 10ema or some beginners luck.

Green pips to all.
Akin.
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  • #14,438
  • Nov 16, 2012 4:27am Nov 16, 2012 4:27am
Quoting emmanuel7788
Hello Hercs,

For one thing to start with. Remove all the man made stuff from your charts and look deep at the forest green.

See what I mean (ATTACHMENT):
=============

Hello Emmanuel,

Thanks for the speedy reply. I just read your previous reply which made it painfully obvious to me.

Do you regard the RSi as "man made stuff"?

To your continued success.
Hercs
  • #14,439
  • Nov 16, 2012 4:54am Nov 16, 2012 4:54am
Hi all

I just want to say this is such a good thread i have been watching and practicing for over 3 weeks now. Im sorry if i have not posted any charts to show my trading as i understand we all must try to post charts and help one another. I will start to post charts soon when i feel more confident in my trading as i still have such a long way to go before i come close to being like the master traders on this thread. I was wondering i see many of the charts posted with all the different TF EMA's attached can someone please share this indicator with me?

I like to thank everyone here for continuing this thread especially after what has happened in the previous week

I hope one day i can be as good a trader as you guys, your information you share in so valuable

Thank you
Graham
  • #14,440
  • Nov 16, 2012 5:23am Nov 16, 2012 5:23am
Hi Emmnauel[ATTACH][ATTACH]
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[/ATTACH][/ATTACH]

Gigril trade chf/jpy can we use pin bar or outside bar
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