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Another simple system - Time-Frame 15

  • #18,861
  • Jan 14, 2013 4:05am Jan 14, 2013 4:05am
Quoting lowweiting
noted....anyway is there any problem on my chart analysis???

thk for reply....
The only thing I'd really look at is the massive positive close on 10th that could not go higher on 11th. Clearly seen on the very erractic pa on 1hr Fri. Thats very strange, a D close like that not to follow through? Might have made me look elsewhere for a trade.
  • #18,862
  • Jan 14, 2013 4:10am Jan 14, 2013 4:10am
retrace and entry.
Attached Image (click to enlarge)
Click to Enlarge Name: ee.PNG Size: 59 KB
  • #18,863
  • Jan 14, 2013 5:35am Jan 14, 2013 5:35am
EU Trade Re-entry:

Last trade got stopped out at BE+4pips.

Now re-entry close to last TP1 price level.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 14 Jan Re-entry 14-1-2013 7-30-42 PM.png Size: 34 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,864
  • Jan 14, 2013 5:48am Jan 14, 2013 5:48am
GU 14 Jan Trade:

GU trade taken after LO, price pullback from 50EMA and classic setup candle on 10EMA. Potential H4 IB Breakout trade worked out nicely.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 14 Jan Trade 14-1-2013 7-43-53 PM.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,865
  • Jan 14, 2013 6:12am Jan 14, 2013 6:12am
Quoting lowweiting
can explain ??not really understand...sorry...
Hi lowweiting,

Like Vantage already pointed out the market session timing, you must learn to observe when is a good time to enter the market and when to stay at sideline.

Your top down analysis from D > H4 > H1 > M15 is good, so stay with this approach.

One mistake you made was assuming the D candle bounce from 10EMA on D chart. Today candle has not close yet sinec it is early trading day. Do not assume D candle bounce until you see that candle close. This is your fatal mistake which I notice you made before.

On H4, price is in consolidation. Did you see that huge mother bar from last Friday? Potential for breakout of that mother bar, right?

On H1, the price move is down as seen by the H1 red colour candles, you can't possibly jump in after 2 red candles and Buy, right?
Must not assume a gopod entrry at fibo 50% unless you seen strong support and price momentume upwards.
Always pay attention to Price Action.

Use M15 for timing your trade entry and for that small SL.


It is all about these 10 things:
Price Action
Trend
Multi-Time Frame
Momentum
Support and Resistance
Continuation
Volatility
Market Strength
Range
Timing

I mentioned these many times in my posts and I hope people will get it. There is really a lot one must be able to see on the charts when we want to trade consistently and to win.

Hope this help you with a better understanding.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,866
  • Jan 14, 2013 6:39am Jan 14, 2013 6:39am
Quoting emmanuel7788
GU 14 Jan Trade:

GU trade taken after LO, price pullback from 50EMA and classic setup candle on 10EMA. Potential H4 IB Breakout trade worked out nicely.
http://www.forexfactory.com/attachme...1&d=1358164079

Trade update:
Move to BE+7pips.
Push TP down with that H4 Mother Bar breakout.

Note: the chart is not MT4, it is GFT Dealbook platform which I use with H4 period shaded.

regards,
Attached Image (click to enlarge)
Click to Enlarge Name: GU 14 Jan trade update14-1-2013 8-32-00 PM.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,867
  • Jan 14, 2013 6:59am Jan 14, 2013 6:59am
Quickly get 17 pips short EU/JYP!Still let it run now!
Reason:Reject RN+10e+50e+break YH!
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-01-14_1956EUJYP.png Size: 19 KB
  • #18,868
  • Jan 14, 2013 7:05am Jan 14, 2013 7:05am
Hi Emmanuel, thanks for all your charts and explanations !

I have one question concerning your EU re-entry trade. What give you enough confidence the price will break the RN and the resistance ? Please see my charts below. Thank you for helping a newbie...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: m15.png Size: 46 KB
Click to Enlarge Name: weekly.jpg Size: 88 KB
  • #18,869
  • Jan 14, 2013 7:21am Jan 14, 2013 7:21am
Quoting TiouK
Hi Emmanuel, thanks for all your charts and explanations !

I have one question concerning your EU re-entry trade. What give you enough confidence the price will break the RN and the resistance ? Please see my charts below. Thank you for helping a newbie...
Hi,

It is intraday trading and when price cannot break fibo 127% of previous D , there is tendency for retracement back into previous day range.
There is a S&R 1.3360 seen on your weekly chart. That is my bigger concern than RN.
LO open candle is IB and that follow with H1 pinbar which I like to trade since there is breakout potential.
My risk was small with earlier trade booked profit.

Hope this explains.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,870
  • Jan 14, 2013 9:41am Jan 14, 2013 9:41am
Quoting Vantage
The only thing I'd really look at is the massive positive close on 10th that could not go higher on 11th. Clearly seen on the very erractic pa on 1hr Fri. Thats very strange, a D close like that not to follow through? Might have made me look elsewhere for a trade.
thk Vantage....
  • #18,871
  • Jan 14, 2013 9:58am Jan 14, 2013 9:58am
Quoting emmanuel7788
Hi lowweiting,

Like Vantage already pointed out the market session timing, you must learn to observe when is a good time to enter the market and when to stay at sideline.

Your top down analysis from D > H4 > H1 > M15 is good, so stay with this approach.

One mistake you made was assuming the D candle bounce from 10EMA on D chart. Today candle has not close yet sinec it is early trading day. Do not assume D candle bounce until you see that candle close. This is your fatal mistake which I notice you made before.

On H4, price is in consolidation....

thk Emmanuel ...!!!!

still have alot to learn ...
  • #18,872
  • Jan 14, 2013 10:23am Jan 14, 2013 10:23am
Quoting emmanuel7788
EU Trade Re-entry:

Last trade got stopped out at BE+4pips.

Now re-entry close to last TP1 price level.
yes.!!! ...i took also...

i just use 1H chart for this Entry....any other reason let Emmanuel Short it???
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1h.gif Size: 23 KB
Click to Enlarge Name: 15m.gif Size: 28 KB
  • #18,873
  • Jan 14, 2013 10:57am Jan 14, 2013 10:57am
Quoting kaka_ht
Quickly get 17 pips short EU/JYP!Still let it run now!
Reason:Reject RN+10e+50e+break YH!
nice ...

i took before it..below is mine entry chart....plz give some comment...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1h.gif Size: 20 KB
Click to Enlarge Name: 15m.gif Size: 27 KB
  • #18,874
  • Jan 14, 2013 11:57am Jan 14, 2013 11:57am
Quoting emmanuel7788
Hi,

It is intraday trading and when price cannot break fibo 127% of previous D , there is tendency for retracement back into previous day range.
There is a S&R 1.3360 seen on your weekly chart. That is my bigger concern than RN.
LO open candle is IB and that follow with H1 pinbar which I like to trade since there is breakout potential.
My risk was small with earlier trade booked profit.

Hope this explains.

Regards,
Thank you emmanuel, I understand better now. I will keep reading the thread (I only read the first 300 pages )
  • #18,875
  • Jan 14, 2013 7:20pm Jan 14, 2013 7:20pm
Hi Emmaniel,

got 2 newbie question about GAP and IB...

question at below attached Chart, maybe u may not understand my question coz english not my mother league....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gap.gif Size: 33 KB
Click to Enlarge Name: ib.gif Size: 44 KB
  • #18,876
  • Jan 14, 2013 8:55pm Jan 14, 2013 8:55pm
For Flaviu1981:
This indicator help you know YH,YL
Enjoy it!
Attached File(s)
File Type: ex4 Daily_High_Low .ex4   3 KB | 414 downloads
  • #18,877
  • Jan 15, 2013 1:05am Jan 15, 2013 1:05am
Quoting kaka_ht
For Flaviu1981:
This indicator help you know YH,YL
Enjoy it!
Thanks!
  • #18,878
  • Jan 15, 2013 4:45am Jan 15, 2013 4:45am
D YESTERDAY.
Attached Image (click to enlarge)
Click to Enlarge Name: TT.PNG Size: 63 KB
  • #18,879
  • Jan 15, 2013 5:51am Jan 15, 2013 5:51am
Quoting lowweiting
Hi Emmaniel,

got 2 newbie question about GAP and IB...

question at below attached Chart, maybe u may not understand my question coz english not my mother league....
http://www.forexfactory.com/attachme...1&d=1358212833

Hi low,

There is no 100 percent that the weekend gap will be filled. If you look back to the history charts, you will find it happen often that the price gap will be filled. Follow the price action on M15 and if you see a high probabilitry setup, just take the trade setup.

Inside Bar trading has been discussed many times. There is a pdf posted several times which explains how some of the CSpattern can be traded.
The thing here is when we see a higher TF CS pattern, we are in M15 chart TF and we trade according to PA and using the basic setup.

The pdf is attached here again. But I recommend that you trade the basic setup and learn how to get that 20pips trades consistently and not spend too much time trying to learn how to trade the CS Pattern now.

regards,
Attached File(s)
File Type: pdf Three Powerful FOREX Price Patterns.pdf   1.8 MB | 1,302 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,880
  • Jan 15, 2013 5:54am Jan 15, 2013 5:54am
Quoting aren
D YESTERDAY.
Hi aren,

thank you for your post.

But I cant make out what you are trying to share here with that chart.
What I see is you are using some sort of a higher TF fractal type of indicator and print the number 1,2 and 3 on your chart.
That looks familiar from another thread in the Commercial forum section.
If you want to share something here for others to learn, please explain what your post is about.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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