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  • #9,681
  • Jan 8, 2013 5:54am Jan 8, 2013 5:54am
Hi X-Man, from your previous post:
"I will also show you guys how to use the HTF as an advantage and for setups then we just execute them on the 1h.

everything is 1 and 1 is everything . "

Did you do it earlier and I missed it, or it is still coming?
Thanks a lot.
  • #9,682
  • Edited 3:13pm Jan 8, 2013 10:15am | Edited 3:13pm
Nice little 40 pip trade today.....entered at London Open based on 10 hours of bounces off the H1 200EMA and Daily resistance.....price continued to test the 200 for another 4 hours and then moved down and hit TP. Notice how price tested the H4 200EMA for an hour or so and then broke through. And as Dee has made us more aware of, if one were trading the M15 chart, there was a nice bounce back up to the M15 200EMA and a re-entry there that is currently in about 35 pips profit.....and the Daily Range is at 80 which is still less than the ADR, leaving room for price to continue short.
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  • #9,683
  • Jan 8, 2013 10:29am Jan 8, 2013 10:29am
Nice one, today I do the same like you and trail the stop, the position is still open. I take in consideration the resistance of the 200 ema and rejection at the R1 multiple candles go up and close below the pivot point. I trade also Eur/Jpy, yen was high and is in correlation with Eur/Usd, has rejection at Central Pivot point, I decided to take short and is braking the triangle to down side, i'll leave it run.
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  • #9,684
  • Jan 8, 2013 10:31am Jan 8, 2013 10:31am
Quoting Phx62
Nice little 40 pip trade today.....entered at London Open based on 8 hours of bounces off the H1 200EMA and Daily resistance.....price continued to test the 200 for another 4 hours and then moved down and hit TP. Notice how price tested the H4 200EMA for an hour or so and then broke through. And as Dee has made us more aware of, if one were trading the M15 chart, there was a nice bounce back up to the M15 200EMA and a re-entry there that is currently in about 35 pips profit.....and the Daily Range is at 80 which is still less than the ADR, leaving...
Hi Phx62,

2 questions please :

1. How do you treat Euro news releases during the London session, not just the bigger ones but also the less important ones, like today there were a couple which spooked me a little, any help would be appreciated

2. Could you share with us your indi for the session boxes, have tried many, but can't seem to replicate

Thanks again
  • #9,685
  • Jan 8, 2013 10:37am Jan 8, 2013 10:37am
Bro did you try the SessionBox you have it in attachment I use that one.

Quoting lounge14
Hi Phx62,

2 questions please :

1. How do you treat Euro news releases during the London session, not just the bigger ones but also the less important ones, like today there were a couple which spooked me a little, any help would be appreciated

2. Could you share with us your indi for the session boxes, have tried many, but can't seem to replicate

Thanks again
  • #9,686
  • Jan 8, 2013 10:48am Jan 8, 2013 10:48am
Quoting Phx62
Nice little 40 pip trade today.....entered at London Open based on 8 hours of bounces off the H1 200EMA and Daily resistance.....price continued to test the 200 for another 4 hours and then moved down and hit TP. Notice how price tested the H4 200EMA for an hour or so and then broke through. And as Dee has made us more aware of, if one were trading the M15 chart, there was a nice bounce back up to the M15 200EMA and a re-entry there that is currently in about 35 pips profit.....and the Daily Range is at 80 which is still less than the ADR, leaving...
I'm into almost the same trade as yours, but I entered on the 2nd red candle at New York open , position is still on and facing a fierce rejection of the 4H 200 Expostional Moving Average

IS there any chance that the price breaks through 4H 200 EMA and continue the journey down?

Thanks
I Have Learned to Take Some Losses to Make Profits
  • #9,687
  • Jan 8, 2013 11:02am Jan 8, 2013 11:02am
Quoting TheDivine
Bro did you try the SessionBox you have it in attachment I use that one.

Yeah thats the one I currently use, can't seem to adjust the settings though to make the London opening correlate to 08.00...instead I get 07.00. Can work with it, but, would prefer it correct.
  • #9,688
  • Jan 8, 2013 11:04am Jan 8, 2013 11:04am
Quoting lounge14
Hi Phx62,

2 questions please :

1. How do you treat Euro news releases during the London session, not just the bigger ones but also the less important ones, like today there were a couple which spooked me a little, any help would be appreciated

2. Could you share with us your indi for the session boxes, have tried many, but can't seem to replicate

Thanks again
I am a technical trader....I am aware of pending news releases but I do not use them to determine trades...I just trade what I see on the charts. As most traders, I have tried to trade fundamentals but without success. If a news release moves the price a different direction and I am in a trade I just exit with as much profit as I can get. I usually will not enter a trade just prior to or during big news releases.

For the session indicators I use.....see post 7144 of this thread or go to the paperclip at the top of this thread and find them there.
  • #9,689
  • Jan 8, 2013 11:08am Jan 8, 2013 11:08am
Quoting Phx62
I am a technical trader....I am aware of pending news releases but I do not use them to determine trades...I just trade what I see on the charts. As most traders, I have tried to trade fundamentals but without success. If a news release moves the price a different direction and I am in a trade I just exit with as much profit as I can get. I usually will not enter a trade just prior to or during big news releases.

For the session indicators I use.....see post 7144 of this thread or go to the paperclip at the top of this thread and find them...
Thanks I too have always wanted those boxes

I try to draw them everyday
I Have Learned to Take Some Losses to Make Profits
  • #9,690
  • Edited 11:24am Jan 8, 2013 11:10am | Edited 11:24am
2 trades +40 & +25 EU. First trade TDI bounce on 1 hr for +40. Second trade a 123 BOP on the 15 min for +25. Reasons for entry and exits are clearly marked on the charts.

EDIT. The white dashed line that price was also bouncing off is the Monthly Pivot, and just above a 78.6% fibo. Often when price "bounces off" an MA you will find something else behind it, Pivot, Fibonacci level or even a S&R level. If price bounces off an MA in isolation there is a very good chance that price will return and break through.
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Cut your Losers short and let your Winners run.
  • #9,691
  • Jan 8, 2013 11:24am Jan 8, 2013 11:24am
Quoting TheScorpS
I'm into almost the same trade as yours, but I entered on the 2nd red candle at New York open , position is still on and facing a fierce rejection of the 4H 200 Expostional Moving Average

IS there any chance that the price breaks through 4H 200 EMA and continue the journey down?

Thanks
There is always a chance that price will break through and continue....there is also a chance price will break through and then reverse or consolidate and a chance that price will bounce and reverse. It is nearly impossible for someone to predict price action....all we can do is learn what usually happens in different circumstances and use our charts and trading tools to determine where price may go....when certain criteria is met and when you see price actions that meet with your trading plan criteria...you act accordingly.
In my opinion, a more appropriate approach would be to analyse what you see and exit when your chart shows the run is over. There should always be reasons to act.....see Dee's charts above.....there is a reason for every action he takes.
  • #9,692
  • Jan 8, 2013 12:19pm Jan 8, 2013 12:19pm
Quoting Phx62
There is always a chance that price will break through and continue....there is also a chance price will break through and then reverse or consolidate and a chance that price will bounce and reverse. It is nearly impossible for someone to predict price action....all we can do is learn what usually happens in different circumstances and use our charts and trading tools to determine where price may go....when certain criteria is met and when you see price actions that meet with your trading plan criteria...you act accordingly.
In my opinion, a...


Hi it is possible to share your fibo indicator ???

Dee50
  • #9,693
  • Jan 8, 2013 12:32pm Jan 8, 2013 12:32pm
By the way,

1. Once I have to determine market trend I come across questions: what is more important- sloping down EMA200 or sloping up MBL? Consider red and yellow be somewhere close to 50.
2. Would you consider going counter trend before green/red reach oversold/overbought levels (overbought for uptrend, oversold for downtrend)? What "safe mode" would you recommend for n00bish myself?

Thanks,
M.
Remember I'm a newbie!
  • #9,694
  • Jan 8, 2013 1:01pm Jan 8, 2013 1:01pm
Quoting Phx62
There is always a chance that price will break through and continue....there is also a chance price will break through and then reverse or consolidate and a chance that price will bounce and reverse. It is nearly impossible for someone to predict price action....all we can do is learn what usually happens in different circumstances and use our charts and trading tools to determine where price may go....when certain criteria is met and when you see price actions that meet with your trading plan criteria...you act accordingly.
In my opinion, a...
I am trying to figure out how to enter correctly , I have so far entered 2 trades in 2 days successfully , next my plan is to triggers psychological emotions and control the trades to get as much pips as possible out of it, thirdly is exiting the trade at the right time, so still time to go, with experience I think I will be able to flow with the market

I like to see charts with explanation same as yours and Dee , I can learn logically and follow experienced traders to the edge while studying along the way

Let's see what tomorrows market hides for me and if my learning curve continues in the wright way

By the way my stop loss was hit with +18 pips profit

Thanks a lot
I Have Learned to Take Some Losses to Make Profits
  • #9,695
  • Jan 8, 2013 1:18pm Jan 8, 2013 1:18pm
Quoting jono717
Hi guys this my first post on this thread so hope I can get asstiance with this problem. I download History Data for my Metatrader to go back to 2011 to view old chart. The problem is that I had an Uptrend on my Eu daliy now it is downtrend were bottoms and top are more then year back could I ask if anyone else chart look like mine.
There was an issue but I it has been resolved.
  • #9,696
  • Jan 8, 2013 1:53pm Jan 8, 2013 1:53pm
Phx62 thank you for your answers,
I still have a question, why not be entering this morning as the purchase screrenshot below?

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #9,697
  • Jan 8, 2013 5:29pm Jan 8, 2013 5:29pm
Quoting Phx62
Nice little 40 pip trade today.....entered at London Open based on 10 hours of bounces off the H1 200EMA and Daily resistance.....price continued to test the 200 for another 4 hours and then moved down and hit TP. Notice how price tested the H4 200EMA for an hour or so and then broke through. And as Dee has made us more aware of, if one were trading the M15 chart, there was a nice bounce back up to the M15 200EMA and a re-entry there that is currently in about 35 pips profit.....and the Daily Range is at 80 which is still less than the ADR, leaving...
Hi, Phx 62,

Great Explanation for entry. I am seeing in last two days you have used Daily Resistance/ Support ( yellow dotted line) for entry, What is this ?
What value s are being considered to draw this ?

Is there any indicator for this.

Thanks
  • #9,698
  • Jan 8, 2013 5:35pm Jan 8, 2013 5:35pm
Quoting thomi
Phx62 thank you for your answers,
I still have a question, why not be entering this morning as the purchase screrenshot below?

Attachment
Attachment
I'm not sure I understand your question....I DID enter on the candle you have highlighted with the red line....on the H1 chart.
  • #9,699
  • Jan 8, 2013 5:38pm Jan 8, 2013 5:38pm
yes I know but why not have picked a trade at this place?
element indicates what not to take long?

why you were bearish today?
  • #9,700
  • Jan 8, 2013 5:41pm Jan 8, 2013 5:41pm
Quoting mkfx
Hi, Phx 62,

Great Explanation for entry. I am seeing in last two days you have used Daily Resistance/ Support ( yellow dotted line) for entry, What is this ?
What value s are being considered to draw this ?

Is there any indicator for this.

Thanks
The yellow lines are not an indicator.....at the beginning of each week I go to the daily chart and highlight the "sore thumb" candles (those that are obvious reversal location).....I also place lines where price may have found resistance, then broke through and that area became support. I'm not a expert at S/R but these lines give me an area where price may hang up......so far it is working for me.
You can learn more about this by going to the link in the first post of this thread for the Pro Traders network.....
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