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Another simple system - Time-Frame 15

  • #18,261
  • Dec 26, 2012 9:39pm Dec 26, 2012 9:39pm
On Euro
Fundamentally Euro is due for major reversal and Fiscall Cliff resolution or avoidance will send this flying down.Overall momentum is uncertainty with bearish mood.In uncertain times fear takes over.
I am looking for possible short at 3266 daily R1 or higher.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 39 KB
In trading, you have to be defensive and aggressive at the same time
  • #18,262
  • Dec 26, 2012 10:12pm Dec 26, 2012 10:12pm
Quoting Davit
You are doing good.You got the basics.
I would be little wary selling AU since it is at the support level.If 90% of the down move has already occurred then the trade is riskier or higher probability of reversing.
Just be always mindful where the price is.
Hi Davit,thanks for your comment!

I have a question!Red line: What is down move that you caculate?Thanks
  • #18,263
  • Dec 26, 2012 10:30pm Dec 26, 2012 10:30pm
Quoting kaka_ht
Hi Davit,thanks for your comment!

I have a question!Red line: What is down move that you caculate?Thanks
Think of 123 pattern.Price never or rarely travels in straight line.Usually it retraces to certain fib level (on my chart)and continues down.
You selling at the bottom of wave 1 is risky and has a higher probability of failure.
There is no "red" zone but there is support level which I drew in orange.
Regards
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 39 KB
In trading, you have to be defensive and aggressive at the same time
  • #18,264
  • Dec 26, 2012 11:55pm Dec 26, 2012 11:55pm
+19pips GU short Confluence of Fib+RN
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In trading, you have to be defensive and aggressive at the same time
  • #18,265
  • Dec 27, 2012 12:34am Dec 27, 2012 12:34am
Quoting Davit
Think of 123 pattern.Price never or rarely travels in straight line.Usually it retraces to certain fib level (on my chart)and continues down.
You selling at the bottom of wave 1 is risky and has a higher probability of failure.
There is no "red" zone but there is support level which I drew in orange.
Regards
Thanks for your explaination!I'm very appericiate it!
  • #18,266
  • Dec 27, 2012 12:45am Dec 27, 2012 12:45am
Quoting Davit
+19pips GU short Confluence of Fib+RN
You use Fib expand?I can't see it clearly in your chart!
  • #18,267
  • Dec 27, 2012 12:53am Dec 27, 2012 12:53am
Can anyone comment my EUJYP trade,thanks!
Attached Image (click to enlarge)
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  • #18,268
  • Dec 27, 2012 1:10am Dec 27, 2012 1:10am
Quoting kaka_ht
Can anyone comment my EUJYP trade,thanks!
I'm in the very same trade at the moment.
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  • #18,269
  • Dec 27, 2012 1:40am Dec 27, 2012 1:40am
Quoting emmanuel7788
Hi lowweiting,

The market session hours are shown in Forex Factory opening page. See example attached. Use that and adjust to suit your own local time. If you are in Malaysia, you time zone is GMT+8. Figure that out.

Initial Stop Loss is the Risk of your trade. R is use to manage trade exits. Read those post I made on Trade Management using R-Multiple and post your questions there.

Read Dr Van Tharp books :
[size=3][font="Verdana"]Trade...

Thk Emmanuel,

i got it, will go through the Management R-multiple, any not understand will ask ....


below is mine analysis,,

can anyone help me have a look??? yours answer may help newbie(me) like me ....
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  • #18,270
  • Dec 27, 2012 1:52am Dec 27, 2012 1:52am
Quoting jordfx
I'm in the very same trade at the moment.
Hi jordfx,thanks for your voucher!I'm very appericiate it!
  • #18,271
  • Dec 27, 2012 1:53am Dec 27, 2012 1:53am
Quoting lowweiting
Thk Emmanuel,

i got it, will go through the Management R-multiple, any not understand will ask ....


below is mine analysis,,

can anyone help me have a look??? yours answer may help newbie(me) like me ....
for 3 hours price can't close below 1.32643. safe to say you can buy here. nice small stop. Major resistance up at 1.329 and 1.33.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.gif Size: 55 KB
  • #18,272
  • Dec 27, 2012 2:01am Dec 27, 2012 2:01am
My AudJpy trade. Stop already moved to breakeven.
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  • #18,273
  • Dec 27, 2012 2:19am Dec 27, 2012 2:19am
Quoting jordfx
for 3 hours price can't close below 1.32643. safe to say you can buy here. nice small stop. Major resistance up at 1.329 and 1.33.
Hi jordfx,3 hours?It means 12 candle?I see only 10 candles there!For me we only wait for 4-6 next candles to determine! But I often waif for restest at 10MA and buy/sell around RN!
  • #18,274
  • Dec 27, 2012 2:26am Dec 27, 2012 2:26am
Hi everyone

Can sb help me with this please?

I was intending to sell GU at the top becuz of the resistance above. The 800 ema seems a strong resitance. I put my sl above according my Ctrader chart. But I made a great loss. - 21

Why? I know I had a bad entry and it was CT. shame on me. No excuses. But the problem is I found out (after entering) that 800 ema on my ctrader is different from my meta4 chart. 800 ema was at 1.6170 but it is at 1.6177 on meta4.
I have attached the pics.

help appreciated

Attached Image (click to enlarge)
Click to Enlarge Name: GU3.jpg Size: 157 KB
  • #18,275
  • Dec 27, 2012 2:31am Dec 27, 2012 2:31am
Quoting kaka_ht
Hi jordfx,3 hours?It means 12 candle?I see only 10 candles there!For me we only wait for 4-6 next candles to determine! But I often waif for restest at 10MA and buy/sell around RN!
sorry! Ma bad! hahaha! that should have been one and half hour. waiting for retest is better and safer..especially around a round number. You're getting the technique well bro.
  • #18,276
  • Dec 27, 2012 2:32am Dec 27, 2012 2:32am
Quoting fxrobinhhood
Hi everyone

Can sb help me with this please?

I was intending to sell GU at the top becuz of the resistance above. The 800 ema seems a strong resitance. I put my sl above according my Ctrader chart. But I made a great loss. - 21

Why? I know I had a bad entry and it was CT. shame on me. No excuses. But the problem is I found out (after entering) that 800 ema on my ctrader is different from my meta4 chart. 800 ema was at 1.6170 but it is at 1.6177 on meta4.
I have attached the pics.

help appreciated

Attachment
All of the charts depend of the brokers depend. Indeed, on the other broker there are some differences about price and so about indicators.
Trade Safe !
  • #18,277
  • Dec 27, 2012 2:39am Dec 27, 2012 2:39am
An opportunity to Buy EUR/USD...
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Trade Safe !
  • #18,278
  • Dec 27, 2012 2:42am Dec 27, 2012 2:42am
And on EUR/JPY...
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.PNG Size: 44 KB
Trade Safe !
  • #18,279
  • Edited 3:01am Dec 27, 2012 2:44am | Edited 3:01am
Quoting fxrobinhhood
Hi everyone

Can sb help me with this please?

I was intending to sell GU at the top becuz of the resistance above. The 800 ema seems a strong resitance. I put my sl above according my Ctrader chart. But I made a great loss. - 21

Why? I know I had a bad entry and it was CT. shame on me. No excuses. But the problem is I found out (after entering) that 800 ema on my ctrader is different from my meta4 chart. 800 ema was at 1.6170 but it is at 1.6177 on meta4.
I have attached the pics.

help appreciated

Attachment
Buddy if you study recent PA on GBPUSD well you'll notice 200ema has been more critical as a turning point than 800ema. There's just been a breakout of 200ema. There's no high probability based on recent PA that 800ema is going to stop that move. If it was going to...then you need to wait for at least one LH to confirm before entering(i.e a close below either 10e or 50e). So in my opinion you didn't enter late...you entered too early! USD is very weak today...check correlation with other pairs...and how on earth did you enter a trade with 21pip stop for scalping????
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  • #18,280
  • Dec 27, 2012 2:48am Dec 27, 2012 2:48am
Looks good for AUD/JPY !
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.PNG Size: 42 KB
Trade Safe !
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