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  • #9,261
  • Nov 22, 2012 11:02am Nov 22, 2012 11:02am
Last 2 PA trades today gave me another 22 safe pips. +62 for the day. Night night. Happy thanksgiving to all you on the other side of the atlantic.
Attached Image (click to enlarge)
Click to Enlarge Name: PA2 +22.png Size: 13 KB
Cut your Losers short and let your Winners run.
  • #9,262
  • Nov 22, 2012 11:11am Nov 22, 2012 11:11am
Quoting illlili
Question for you with your fib plotting. I was under the impression that fibs are plotted from left to right, or from an older bar to a newer bar. do you reverse the plotting from high to low to low to high once price reverses after a small pull back?
Draw fib from previous days high to low at the start of day for retracements. If price retraces all the way back to the 0% fib, then change it to, from previous days low to todays high. Unless you are trading a higher time frame. Then the same applies but we are talking weekly high lows.
Cut your Losers short and let your Winners run.
  • #9,263
  • Nov 22, 2012 6:04pm Nov 22, 2012 6:04pm
Quoting dee50
This is an example of PA Trading. This is how I traded this morning because of the Holiday. Using the following. Nothing fancy nothing really technical. 40 Safe pips in a crappy market.

Breakout
Divergence
Trend Line
BRN
S&R

PS. Forgot to mention, you also have 123´s and ABCD´s on the chart. If you want to mark up achart for youre self as practice, I traded a 5min this morning.
Hi Dee50,

YOU ARE A KING OF DIVERGENCE TRADING

Thanks for sharing your charts they are very useful to understand concepts of FX trading

I am new person in FX trading and trying to learn these concepts.

Please do you have any material on HD and RD or you can write here so i can understand how to draw these lines.
  • #9,264
  • Nov 23, 2012 2:52am Nov 23, 2012 2:52am
Quoting mkfx
Hi Dee50,

YOU ARE A KING OF DIVERGENCE TRADING

Thanks for sharing your charts they are very useful to understand concepts of FX trading

I am new person in FX trading and trying to learn these concepts.

Please do you have any material on HD and RD or you can write here so i can understand how to draw these lines.
Go to this link

http://www.forexfactory.com/attachme...202012%2018:06
Cut your Losers short and let your Winners run.
  • #9,265
  • Nov 23, 2012 3:18am Nov 23, 2012 3:18am
Quoting munirpt
Hi guys

This is a follow up chart just to show the importance of market harmonics and also to reinforce that it will be difficult to succeed if you just take all TDI crosses without looking at the overall market structure.

Make sure you understand well the concept of Support and Resistance, Trends, etc... and then use TDI as a confirmation tool.
I have been in that path and this is what really works.
Yes, it has been working...
Enter Signature
  • #9,266
  • Edited 9:25am Nov 23, 2012 9:23am | Edited 9:25am
Quoting thrax
Excellent trade, dee50!

...USDCHF H4 trade...I set for the rest TP3 just above RN .93000. The SL already set to positive.
Quick update: the rest of the position hit TP3, nice end of the week.

take care,
thrax
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf_h4.gif Size: 36 KB
  • #9,267
  • Nov 24, 2012 3:28am Nov 24, 2012 3:28am
Want to understand Support and Resistance. Just found this thread. Superb.

http://www.forexfactory.com/showthread.php?t=86429

or read this post from the thread, as a taster. The thread originator is a professional trader.

http://www.forexfactory.com/showthre...83#post2035383
Cut your Losers short and let your Winners run.
  • #9,268
  • Nov 25, 2012 3:51am Nov 25, 2012 3:51am
Quoting dee50
Go to this link

http://www.forexfactory.com/attachme...202012%2018:06
thanks dee50
  • #9,269
  • Nov 25, 2012 5:56am Nov 25, 2012 5:56am
A little something to throw more light on Support and Resistance. Explains what is happening at these levels and why, how to draw them how to distinguish weak from strong levels. Even a simple trading method. Worth your time.
Attached File(s)
File Type: pdf BRV_S+R_Trading_210808.pdf   879 KB | 671 downloads
Cut your Losers short and let your Winners run.
  • #9,270
  • Edited 5:00am Nov 26, 2012 4:39am | Edited 5:00am
dee50

Thanks a lot for the files that your provided, I read that PDF about Divergence and I can tell that I now have a clue about Higher High, Lower High, Lower Low, Higher Low

What about last file that you provided, is it about Support and Resistance?

and how can this PDF help me in relation to Xman system?

Just curios since I just want to keep reading helpful information and filter information as much as possible

Thanks again
I Have Learned to Take Some Losses to Make Profits
  • #9,271
  • Nov 26, 2012 7:27am Nov 26, 2012 7:27am
dee50 thank you once again for all these superb information. now im reading them and i already have some detailed questions in mind. I hope you or other senior members would answer. I will brb ASAP (after reading all these hehe)
  • #9,272
  • Nov 26, 2012 8:42am Nov 26, 2012 8:42am
dee50, a strong support and resistance. if a price bounces of this level and TDI confirm it, do you simply enter it or there must be a PA happening at the same time as well?
  • #9,273
  • Nov 26, 2012 9:08am Nov 26, 2012 9:08am
another question is, when a strong S/R line gets broken then later it becomes (again) a S/R, would you consider it as a strong S/R as described in the another thread you mentioned?
  • #9,274
  • Nov 26, 2012 9:12am Nov 26, 2012 9:12am
Very intresting to see, that there is almost no movement: typical ranging on all the pairs. For me EURAUD looks promising: triangle is forming, the TDI indicates also that a significant move is ahead (volatiliy bands are squeezing)+bullish divergence. Based on my ema(s) and the previuos reasons I wait a long move, we will see.

Take care,
thrax
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 33 KB
  • #9,275
  • Nov 26, 2012 9:42am Nov 26, 2012 9:42am
Quoting rsg10z
another question is, when a strong S/R line gets broken then later it becomes (again) a S/R, would you consider it as a strong S/R as described in the another thread you mentioned?
I think they mentioned in that thread, that it depends on how many times that level has been hit. Check it out for your self. Draw some levels on a daily or 4 hr chart, then scroll back and see how many times it has been reacted too, see what happens the more times it is hit.
Cut your Losers short and let your Winners run.
  • #9,276
  • Nov 26, 2012 9:47am Nov 26, 2012 9:47am
Quoting rsg10z
dee50, a strong support and resistance. if a price bounces of this level and TDI confirm it, do you simply enter it or there must be a PA happening at the same time as well?
it would be unusual for there to be no PA confirming the bounce, there would be some kind of reversal pattern.
Cut your Losers short and let your Winners run.
  • #9,277
  • Nov 26, 2012 11:56am Nov 26, 2012 11:56am
hello yes thank you. I wonder if there's no strong support/resistance around the H1 chart, and let's say no retracement at all (only going up and up or down and down) do you wait until it hits a clear S/R and form a PA or you will simply trade based on PA and confirmed by this s3 method?

one more thing. you mentioned you use fibonacci for yesterday low/high. Do you use it in H4 too (considering it's way easier to look for strong S/R in H4 to me)? And if yes, how to draw the fibonacci there? (i mean which low/high), thank you!
  • #9,278
  • Nov 26, 2012 12:12pm Nov 26, 2012 12:12pm
and at times im confused with ranging market such as today. I see 1-2 PA (even though rather weak) in M15. I did enter once and scalped +12. However, i dont put bigger TP because i see nothing at all in H1. What i want to know is, if you trade in M15 and you see clear PA rejection from a S/R such as today (around 1.2988 or something i forgot. not in front of computer atm) and you are then in +10 pips or something, do you "wait" until H1 form something or you simply close the trade and might re-enter again later when H1 chart confirm this?

i give you an example. Price rejects from a strong resistance at 1.2900 and forms a outside bar in M15. You scalped for +12-15 with entry point at 1.2880. Then later after the candle of H1 get closed, it forms another PA such as pin bar or outside bar, would you re-enter again even though the entry point is actually weaker? Like 1.2870? or you simply didnt close the M15 entry earlier and rather wait until the H1 candle gets closed (to see if it's good to hold the trade)?

sorry for another question but i also want to know if you take counter trend trade as well?
  • #9,279
  • Nov 26, 2012 12:13pm Nov 26, 2012 12:13pm
Thanks in advance btw
  • #9,280
  • Nov 27, 2012 2:24am Nov 27, 2012 2:24am
Dear Phx92,

Do you mind rewinding back to Oct 29th, please? Great pullback candle arose just prior to Frankfurt Open creating double bottom with Asian low. You opened your short position (contrary to the direction of the pullback) and was successful with the trade. Could you please tell what supported your decision?


Lately I've been doing lots of backtests and was wondering, what would be more effective way of studying:
Backtest one particular situation over the long period of time and search for similar PA?
Rewind the market back and follow day by day analysis that consist of "everything" (s&r, divergence, EMAs, pullbacks, patterns etc.)


Kind regards,
Michał
Remember I'm a newbie!
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