Done for the day already. EJ +50. Looks almost identical to the GU trade I took yesterday. I just wait for the same setups over and over again. Stay patient and keep it simple 
What is any ocean but a multitude of drops?
Another simple system - Time-Frame 15
- #16,144
- Nov 29, 2012 10:27pm Nov 29, 2012 10:27pm
yes, we need strong momentum to break this....H4 show some momentum.
but the US data not helping now and time wise we have london session close in 2 hours.
1.6050 level is a strong resistance level plus PA is above ALL three EMA. CT trade is risky cause PA is 20+ pips away from EMA 200. How do you all going to plan the trade?
Btw i circled 3 candles, are they marubozu candles??
Hope someone can help me and correct me if the above statement is wrong.
- #16,145
- Nov 29, 2012 10:29pm Nov 29, 2012 10:29pm
- Joined Dec 2010 | Status: Trader | 1,152 Posts
Hi Everyone
I know i am very behind Xhale12. it'll be a long way to catch him.
Morning Trade today.
The reason I took EJ long
1)asian session
2)Price all HTF above 10ema
3)10ema>50ema>200ema>800ema on 15min
4)IB and blue candle closed above RN106.5
5)Then next candle was also bullish followed with hanging man
PS
TDI looked ok.
Yellow just on the 50 line and Green and Red cross Yellow
Entry106.660 Exit 106.960
I was late to enter but the move seemed to be strong so I entered and I also exited too early but i was not picky to...
What is any ocean but a multitude of drops?
- #16,146
- Nov 29, 2012 10:46pm Nov 29, 2012 10:46pm
- Joined Mar 2007 | Status: Trader | 7,195 Posts
Hi everyone, i have question regarding the GBPUSD.
1.6050 level is a strong resistance level plus PA is above ALL three EMA. CT trade is risky cause PA is 20+ pips away from EMA 200. How do you all going to plan the trade?
Btw i circled 3 candles, are they marubozu candles??
Hope someone can help me and correct me if the above statement is wrong.
You either trust this and (a) trade 1st engulfing close through 10 ema that you get and accept the risk in entering right on a SR level, (b) wait for a possible pullback below 1.6050 to give some room to get to BE or last (c) hopefully get a break through and pullback above 1.6050 level i.e. a higher low wave above 1.6050.
What you do depends on what the market gives you. If no pullback below 1.6050 then you are faced with a and c. If you reject (a) as being too risky then you are left with (c). If (c) doesn't play out i.e. no retrace above 1.6050 to get in on and (a) is the trade that works you don't beat yourself up. This is a tricky situation. You don't have to try and trade every scenario.
A lost opportunity is better than a loss. If you are trading demo ask yourself if you would trade real money on this position. Give your mum/dad/brother/sister $1000 right now. You get it back (if trading demo) you make the correct choice of the 3 scenarios.
Very nice
Now go back to reading another 8××pages
. Anyway I don't have to keep saying that I should have taken this one instead the one I took sometime ago during weekend!!!Onece Gibril said somewhere in this thread " do not ask any question, you don't understand anything anyway!"
so I go back to my cage and i hide myself a while.
I wonder why he said this. probably he meant something else
. or he just have read my mind?Have a nice weekend and looking forward to read your post.
- #16,151
- Nov 29, 2012 11:33pm Nov 29, 2012 11:33pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #16,152
- Nov 30, 2012 12:04am Nov 30, 2012 12:04am
Done for the day already. EJ +50. Looks almost identical to the GU trade I took yesterday. I just wait for the same setups over and over again. Stay patient and keep it simple
Not sure how to get 10EMA H4 on M15 chart using MA Segment indicator. 10EMA is missing in the input list. Am I missing something?
Thanks
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
- #16,153
- Nov 30, 2012 12:10am Nov 30, 2012 12:10am
Hi,
Thanks so much for your quick respond.
I can understand the AUDJPY is not the correct setup as the 2 EMAs are above the market price, we should not take the Long trade.
for EURJPY vs GBPJPY, I can see 2 points here:
01) In TDI analysis: TDI Price Line (Green) has a better slope for EURJPY. It shows the strong market sentiment
02) In EMA analysis: GBPJPY shows the bigger gap between 10 EMA and 200 EMA. It show bounced off is strengthen
So, for EURJPY vs GBPJPY, which one has the lower risk in this scenario?
Appreciate you put in your afford to teach new bee like me
Good day & nice weekend.
Rgds
Thanks so much for your quick respond.
I can understand the AUDJPY is not the correct setup as the 2 EMAs are above the market price, we should not take the Long trade.
for EURJPY vs GBPJPY, I can see 2 points here:
01) In TDI analysis: TDI Price Line (Green) has a better slope for EURJPY. It shows the strong market sentiment
02) In EMA analysis: GBPJPY shows the bigger gap between 10 EMA and 200 EMA. It show bounced off is strengthen
So, for EURJPY vs GBPJPY, which one has the lower risk in this scenario?
Appreciate you put in your afford to teach new bee like me
Good day & nice weekend.
Rgds
Hi thuac,
see attached.
is this clearer?
- #16,154
- Nov 30, 2012 12:13am Nov 30, 2012 12:13am
Hello everyone,
Had to chill a little bit and get some rest. I think, sitting in front of charts for hours and days won't do much good to me. So far about 110 hours for 2 months... Euphoria is going away . I've learned how much I hate to loose!
Back to charts:
I have one question about EUR/JPY.
How far to the left we should look for PPA support and resistance? I see nearest resistance point back in march 2012 and we still have 300 pips to that point. Than I look even further at 2010 and see really nice line support PA back there. Can I count it as new resistance point? if so any long would be really risky. I mean everything is creaming at me its going to short. Can anyone comment this and as always, thank you for teaching me. I hope one day I rebuild my account
Had to chill a little bit and get some rest. I think, sitting in front of charts for hours and days won't do much good to me. So far about 110 hours for 2 months... Euphoria is going away . I've learned how much I hate to loose!
Back to charts:
I have one question about EUR/JPY.
How far to the left we should look for PPA support and resistance? I see nearest resistance point back in march 2012 and we still have 300 pips to that point. Than I look even further at 2010 and see really nice line support PA back there. Can I count it as new resistance point? if so any long would be really risky. I mean everything is creaming at me its going to short. Can anyone comment this and as always, thank you for teaching me. I hope one day I rebuild my account
You missed one very important observation Adrian which could nullify all the other analysis you did if it weren't there...HH-LH...HL-LL...were being formed on the 4Htf. see those short horizontal black lines? A LH had just been formed before the entry...so expecting the next LL.
very nice explanations,
Jordfx, very useful to highlight the "HH-LL dance", i would have added (for newbies like me) that the HH-LH are more visible on H1 in that case,
just for my newbies brothers and sisters who are trying to understand all the posts..
Thank you
love
dom
- #16,157
- Nov 30, 2012 12:38am Nov 30, 2012 12:38am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
