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Another simple system - Time-Frame 15

  • #15,341
  • Nov 22, 2012 10:26pm Nov 22, 2012 10:26pm
Quoting emmanuel7788
Do you know how to read the candlestick - Open, High, Low and Close?

Look closely at those M15 candles which I marked with red arrows.

Do you see that each of the M15 candle has lower high than the previous one?

Hi emamanuel,

Here is my GU chart where i have marked the 3 arrows where the price is pulling back to the 10EMA.
Please correct me if I am wrong.

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 25 KB
  • #15,342
  • Nov 22, 2012 10:28pm Nov 22, 2012 10:28pm
Quoting emmanuel7788
Good trades w99,

a good example of how successful traders start with clean and clutter-free charts.
I like your chart very much.

One piece of small advice - don't even think of using the ADR. Let Price Action (PA) show you when and where for entry, and the same for your exits. Let Higher Timeframe (HTF) show you the direction.
10% is Method ...all the technical stuff
30% is Management ... money management, trade management, risk mamagement, etc.
60% is Mental Fitness ... how you manage the trader inside you.

You are on track , keep your...
thx e7788

I still have a huge mountain in front of me, but I'm happy to take one step at a time.
About your breakdown above ~ 60% mental (psychology)

On the surface of the charts I posted they look good, not perfect I agree. Someone looking at them would just see the charts but NOTHING of the emotional baggage attached to them. Only i know what I was feeling as the trades unfolded.

It's the emotion behind the trades is what is causing me stress.
Every tick up and down causes either fear or excitement. When PA moves my way, its all good, when PA moves down, I get fearful, even ONE tick against me can cause this ridiculous I know . Managing your emotions is a big part of being successful I know, but first i need to get consistent results with LE1's method, which will go along way to feeling less stressed as a trader.

Thanks for your input.

W99
  • #15,343
  • Nov 22, 2012 10:31pm Nov 22, 2012 10:31pm
Continuation Patterns
This formation is called: Bullish Rising Three Methods
Attached Image
  • #15,344
  • Nov 22, 2012 10:37pm Nov 22, 2012 10:37pm
Quoting pshark68
Hi emamanuel,

Here is my GU chart where i have marked the 3 arrows where the price is pulling back to the 10EMA.
Please correct me if I am wrong.

Thank you.
Hi pshark,

Thank you for doing this exercise.
It is much easier when you know what your are looking for. Agree with me?

You did well picking out 4. I have few more than you. But that's me.

Now, got to H1 and pick exactly the 3 bar pullback in that same day 21 Nov. Mark that area where the 3 bar pullback on H1 and then go back to M15. What do you see?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,345
  • Nov 22, 2012 10:40pm Nov 22, 2012 10:40pm
Quoting fxdivergence
Continuation Patterns
This formation is called: Bullish Rising Three Methods

Thanks fxdivergence for that generic textbook pic.

Now the people have to turn their monitors upside down to see the Bearish Falling pattern.
Or some may like to do the head stand stance. LOL

http://www.forexfactory.com/attachme...1&d=1353645000
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,346
  • Nov 22, 2012 11:00pm Nov 22, 2012 11:00pm
Quoting emmanuel7788
Do you know how to read the candlestick - Open, High, Low and Close?

Look closely at those M15 candles which I marked with red arrows.

Do you see that each of the M15 candle has lower high than the previous one?
Also notice in generic terms (without getting into discussions about any specific patterns) that the candles with an engulfing close (closing higher than last 2 candle closes) back into up trend are good signals?
  • #15,347
  • Nov 22, 2012 11:23pm Nov 22, 2012 11:23pm
Quoting emmanuel7788
Hi pshark,

Thank you for doing this exercise.
It is much easier when you know what your are looking for. Agree with me?

You did well picking out 4. I have few more than you. But that's me.

Now, got to H1 and pick exactly the 3 bar pullback in that same day 21 Nov. Mark that area where the 3 bar pullback on H1 and then go back to M15. What do you see?
Sorry brother, but I am a bit lost. Here is the chart on the same GU for H1 and M15. I hope I read your instruction correctly. I am not sure what I am looking for in M15. Only thing I could see is the the middle candle of H1 is and IB. and another thing is the H1 pull back to EMA10 where else the M15 pull back to EMA50.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu_h1.gif Size: 24 KB
Click to Enlarge Name: gu_m15.gif Size: 22 KB
  • #15,348
  • Nov 22, 2012 11:33pm Nov 22, 2012 11:33pm
Quoting emmanuel7788
Thanks fxdivergence for that generic textbook pic.

Now the people have to turn their monitors upside down to see the Bearish Falling pattern.
Or some may like to do the head stand stance. LOL

http://www.forexfactory.com/attachme...1&d=1353645000
Yeah lah! lol. (my wife Singaporean)
  • #15,349
  • Nov 22, 2012 11:38pm Nov 22, 2012 11:38pm
Quoting fxdivergence
Yeah lah! lol. (my wife Singaporean)
Ha ha.
My wife is Singaporean too.
Can't be possible that we married the same woman?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,350
  • Nov 22, 2012 11:43pm Nov 22, 2012 11:43pm
Quoting pshark68
Sorry brother, but I am a bit lost. Here is the chart on the same GU for H1 and M15. I hope I read your instruction correctly. I am not sure what I am looking for in M15. Only thing I could see is the the middle candle of H1 is and IB. and another thing is the H1 pull back to EMA10 where else the M15 pull back to EMA50.

Good work.

Now you see the power of HTF, 10EMA and how many possible ways to read the CS in all TF and trade.
The challenge is finding that trigger and pull that with small SL (R).
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,351
  • Nov 23, 2012 12:03am Nov 23, 2012 12:03am
About Doctors, Lawyers, ....

yesterday one member posted and mentioned that he is a dentist by profession.
I categorise him under the Doctor profession.
Do we have any lawyer member following this thread.
I have a lesson waiting for you.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,352
  • Nov 23, 2012 12:05am Nov 23, 2012 12:05am
come on!!......who's going to admit it

Quoting emmanuel7788
Do we have any lawyer member following this thread.
  • #15,353
  • Nov 23, 2012 12:24am Nov 23, 2012 12:24am
Quoting PeterE
come on!!......who's going to admit it

I hope someone would.

I visit my Cardiologist once every 3 months and each consultation he charges $80 per 20mins block.
Since the last 2 years, he schedule my visit during his off-peak period and we sat down for one hour each time and I get away without paying him.

How did I do it - getting away 3x20mins free-of-charge?

But my lawyer still charges me $650 per hour he spend with me.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,354
  • Nov 23, 2012 12:28am Nov 23, 2012 12:28am
today 1st trade... Positive Pips..

AU-LONG

Daily -Price was above HTF support

4H - Touch of 10EMA

1H - previous candle was bounce from 50EMA and closed above 10EMA

15M - entry pull back on 10EMA

ur comment are welcome...

thk everybody who was make so much contribution in this Thread...will keep learning...
Attached Image (click to enlarge)
Click to Enlarge Name: result won.gif Size: 25 KB
  • #15,355
  • Nov 23, 2012 12:28am Nov 23, 2012 12:28am
Sorry folks I went way off-topic last post.

Now back to serious trading.

Here is my EU entry made a while ago.

3-bar pullback + bullish engulfing entry, small SL.
But Tokyo Bank holidays so expect sloooow one but BE trade .
Attached Image (click to enlarge)
Click to Enlarge Name: EU 23 Nov GMT0500 trade23-11-2012 2-07-39 PM.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,356
  • Nov 23, 2012 12:31am Nov 23, 2012 12:31am
Quoting lowweiting
today 1st trade... Positive Pips..

AU-LONG

Daily -Price was above HTF support

4H - Touch of 10EMA

1H - previous candle was bounce from 50EMA and closed above 10EMA

15M - entry pull back on 10EMA

ur comment are welcome...

thk everybody who was make so much contribution in this Thread...will keep learning...
Nice one mate!

I waited for the 3-bar pullback and for that elusive Arjun candle but missed that by few pips and it blew right away...
Attached Image (click to enlarge)
Click to Enlarge Name: AU 23 Nov missed trigger 23-11-2012 2-32-21 PM.png Size: 20 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,357
  • Nov 23, 2012 12:39am Nov 23, 2012 12:39am
Quoting emmanuel7788
Good work.

Now you see the power of HTF, 10EMA and how many possible ways to read the CS in all TF and trade.
The challenge is finding that trigger and pull that with small SL (R).
Thanks bro.
  • #15,358
  • Nov 23, 2012 12:39am Nov 23, 2012 12:39am
Since DST started, market action start after Tokyo sushi time.
GMT0500 i.e. 2 hours before FFM open or some call Frankie open.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,359
  • Nov 23, 2012 12:56am Nov 23, 2012 12:56am
Quoting emmanuel7788
Sorry folks I went way off-topic last post.

Now back to serious trading.

Here is my EU entry made a while ago.

3-bar pullback + bullish engulfing entry, small SL.
But Tokyo Bank holidays so expect sloooow one but BE trade .
Hi ya Emmanuel..

See the BUOB you've used in this chart are you using just the bodies to make such a bar...if so are we suppose to look for a larger body of the bar say some thing like a % bigger than the previous bar??
Sorry for asking but I've been taught the bar should completely engulf the prior bar, wicks and all..

Cheers,
Adrian
  • #15,360
  • Nov 23, 2012 12:57am Nov 23, 2012 12:57am
Quoting emmanuel7788
Nice one mate!

I waited for the 3-bar pullback and for that elusive Arjun candle but missed that by few pips and it blew right away...
thk for reply...

i notice that u really pro in reading candle...really..

i was save alot of ur candle chart post...(but not yet hv time to to read)...Lol.

thk .. will keep posting...
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