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Another simple system - Time-Frame 15

  • #19,001
  • Jan 18, 2013 3:18am Jan 18, 2013 3:18am
Quoting lowweiting
Gu successfull.!!!!!

thk Emmanuel, Vantage, and Jeank for aware of my local LO time...

please give newbie trade some comment
....
Hello, Lowweiting...

Would you mind to explain what made you entry on that point? Was it because the price closed under MA10 which also under some important support level (MA10 Monthly and MA10 H4)? I was also looking for a GU sell setup, well entry too early before LO. After LO don't identify your entry point as a setup because I was looking for a pullback against MA10.

Thank you, hope to learn from experienced traders here.
  • #19,002
  • Jan 18, 2013 3:20am Jan 18, 2013 3:20am
Quoting lowweiting
Gu successfull.!!!!!

thk Emmanuel, Vantage, and Jeank for aware of my local LO time...

please give newbie trade some comment
....

welldone!
when you pay attention to higher TF chart, you will get better.
technical W and D favour SELL
H4 consolidation with mother bar and double inside bar (DIB)
As I said very often, breakout BO candle is fast and furious and you will only be in that BO candle when you enter early before that BO.
If you wait for the BO of the mother bar, you get only small pips and higher risk. where will you place initidla SL? and that affect position size.
This M15 method will very often give you that nice trigger candle on M15 10EMA.
You need to train your eyes and spot that trigger and you did.

Good Trading! ... now keep repeating this everyday and you will make that 20pips easy.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,003
  • Jan 18, 2013 3:29am Jan 18, 2013 3:29am
Hi everyone.

Lots of activity today. The thread seems live and kicking again. I'm glad to see the big guns are back from holidays.

I have been reading and watching silently again as I had big losses in the weeks and days. I burnt two micro accounts.
I really felt desparate cuz I knew I made losses becuz of my own lack of discipline and psychological control.

Im on the mend now and trying to make a clear discipled plan.

thnx for all the love and learning you create here.

  • #19,004
  • Jan 18, 2013 3:31am Jan 18, 2013 3:31am
Quoting lowweiting
Gu successfull.!!!!!

thk Emmanuel, Vantage, and Jeank for aware of my local LO time...

please give newbie trade some comment
....
Hi lowweiting

where did you enter body? I m on teh same trade. will post chart after the news.
  • #19,005
  • Jan 18, 2013 3:37am Jan 18, 2013 3:37am
GU 18 Jan chart example:

This is one of the chart setup I look for very often...H4 DIB

note the TDI and PA...what do you see?
Attached Image (click to enlarge)
Click to Enlarge Name: GU 18 Jan POMO 18-1-2013 5-27-37 PM.png Size: 59 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,006
  • Jan 18, 2013 3:39am Jan 18, 2013 3:39am
Quoting dreamcatcher
Hello, Lowweiting...

Would you mind to explain what made you entry on that point? Was it because the price closed under MA10 which also under some important support level (MA10 Monthly and MA10 H4)? I was also looking for a GU sell setup, well entry too early before LO. After LO don't identify your entry point as a setup because I was looking for a pullback against MA10.

Thank you, hope to learn from experienced traders here.
opps, sorry mybe the above 15M chart not clear...below is more clear i think...for 15M entry point i enter little bit late...i not really look at month 10EMA but if u see my 4H chart, 16011 is my weekly support(learn from EMmanuel weekly line chart and draw S&R)....in 4H after the candle closed , i just think about SELL...

addition comfirmation with Emmanuel Previous D FIb , price bounce off from 38.2% (hope i am not draw wrong).....


sorry for poor explanation, i maybe wrong....just learn and Demo...
Attached Image (click to enlarge)
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  • #19,007
  • Jan 18, 2013 3:44am Jan 18, 2013 3:44am
Update on my EJ trade today.
Attached Image (click to enlarge)
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  • #19,008
  • Jan 18, 2013 3:50am Jan 18, 2013 3:50am
Quoting jordfx
Update on my EJ trade today.

well, looks like 119.70 stops all taken out... LOL

did you scalp? or you hedge your open positions?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,009
  • Jan 18, 2013 3:51am Jan 18, 2013 3:51am
Quoting emmanuel7788
GU 18 Jan chart example:

This is one of the chart setup I look for very often...H4 DIB

note the TDI and PA...what do you see?

PA is a shooting star, and it closed below the previous month low and previous weekly low, and RN. You pointed out the Confluence around that area.

THe green line has a sharp slope after that shooting star and the yellow line is below 50.


This is my answer and I hope I will learn more from all of your post, Mr Emmanuel

Thank you for your teaching

Regards,
  • #19,010
  • Jan 18, 2013 3:54am Jan 18, 2013 3:54am
Quoting jordfx
For those watching EU, seems like a nice buy setup too
pay attention to divergences. too late, i guess.
  • #19,011
  • Jan 18, 2013 3:56am Jan 18, 2013 3:56am
Quoting emmanuel7788
GU 18 Jan chart example:

This is one of the chart setup I look for very often...H4 DIB

note the TDI and PA...what do you see?
Hi Emm

Whats annoying is my H4 "mother candle" does not exist due to my broker server time , gaw shucks
Attached Image (click to enlarge)
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  • #19,012
  • Jan 18, 2013 3:58am Jan 18, 2013 3:58am
Quoting lowweiting
opps, sorry mybe the above 15M chart not clear...below is more clear i think...for 15M entry point i enter little bit late...i not really look at month 10EMA but if u see my 4H chart, 16011 is my weekly support(learn from EMmanuel weekly line chart and draw S&R)....in 4H after the candle closed , i just think about SELL...

addition comfirmation with Emmanuel Previous D FIb , price bounce off from 38.2% (hope i am not draw wrong).....


sorry for poor explanation, i maybe wrong....just learn and Demo...
Thank you for the explanation... I have no courage to place an entry on that point , I wish I had. Hence I was looking for a retrace to MA10, unfortunately the movement is so fast downside. Another potential entry I think on the reject of RN.

Please help, is this another valid entry or not...
Attached Image
  • #19,013
  • Jan 18, 2013 4:01am Jan 18, 2013 4:01am
Quoting emmanuel7788
well, looks like 119.70 stops all taken out... LOL

did you scalp? or you hedge your open positions?

yes. My stops are really for mostly for emergencies. Closed all the long positions because it's friday, and I know all the Big Boys have probably made up their minds to take profit from that massive rally yesterday and balance the books somewhat. Once I saw that pinbar across YH I started looking to exit. No hedging for me cause it's friday. Not going to keep any positions open over the weekend. NY might decide to cash in too. Greed...and Fear.
  • #19,014
  • Jan 18, 2013 4:03am Jan 18, 2013 4:03am
My only textbook setup - sell short on GU. Other are failed trades becuz of crazy jumping into teh market.

Sell on GU at LO- reason - daily PA below all ma - H4 below all ema - M15 below 10 and yesterday close.

initial sl 15 pips. moved sl to + 20 to protect. I use Meta4 for analysis.

What do u think?
I appreciate your helpful comments as always


Attached Image (click to enlarge)
Click to Enlarge Name: GU-textbook.png Size: 27 KB
  • #19,015
  • Jan 18, 2013 4:04am Jan 18, 2013 4:04am
Quoting dreamcatcher
Thank you for the explanation... I have no courage to place an entry on that point , I wish I had. Hence I was looking for a retrace to MA10, unfortunately the movement is so fast downside. Another potential entry I think on the reject of RN.

Please help, is this another valid entry or not...
i think have to ask Emmanuel to answer...Lol
  • #19,016
  • Jan 18, 2013 4:09am Jan 18, 2013 4:09am
Quoting pkimnyc
pay attention to divergences. too late, i guess.
Yeah, you're right buddy. Saw it on MACD across yesterday close through to LO right?
Was waiting for PA Divergence set up to confirm whether to take the MACD Div seriously. Sometimes it's a fakey. I think the critical thing I didn't factor in was that the Big Boys need some spending money over the weekend, so will need to balance the books, close some positions and take some profits from yesterdays rally. But I think 123, 132 and 141 are still realistic. If I had any open positions left over from yesterday, I would probably have still kept it open even now. My ultimate exit signal for swing trades still not yet triggered so far........oh.....just noticed you were talking about EU Divergence. yeah you're right
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  • #19,017
  • Jan 18, 2013 4:10am Jan 18, 2013 4:10am
Quoting lowweiting
i think have to ask Emmanuel to answer...Lol
Emmanuel and other senior traders,

please give some opinion about my post asking GU setup above (post #19016 and post #18999] ... I will really appreciate your opinion.

Thank you.
  • #19,018
  • Jan 18, 2013 4:29am Jan 18, 2013 4:29am
Quoting dreamcatcher
- Flow? EU was creating HH/HL, but GU wasn't. Is it mandatory to wait for a flow before entering a trade or can I just take a trade when the setup formed and aligned with primary trend from D1&H4?

Feel free to give opinion about this, I am a bit (a lot?) confuse with some stopped out trades recently.

Regards.
My 2 cents worth.

In the long run going with the flow ie the trend will serve you well. The EUR fall was CT but from a proven resistance level. So if you take that trade you do so in terms of your defined rules for CT.

The gu move up before LO was a classic head fake. Move up fails merely to revert to trend. Also an evening star type pattern. Nice sell just after LO.

So if you have 2 trades 1 in trend and 1 counter trend which one would probably be best option? Most likely all other things being equal the trend trade.
  • #19,019
  • Jan 18, 2013 4:34am Jan 18, 2013 4:34am
My two failed trades on GA.
reason for 1st entry.
Daily Pa below all ema - H4 PA below all but above 10 ema - M15 below 10 and yesterdays close.(a bit undecided)
EP 1.51745 - SL 1.51905 ---- Stopped out - late entry and tight sl not above the previous high.

2nd entry - reentry -- just jumping into market. reason = crazy blind entry -
1.51619 --- initial sl 16 pips - next 20 - kept widening it like a crazy animal that cannot think.

To other newbiews like myself. I burned two micro accounts this January becuz of blind overtrading and widening sl after entry.

As LE1 said when you have losers, just close the platform and leave the room, go for a walk. Do not trade until you are level minded.


Attached Image (click to enlarge)
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  • #19,020
  • Jan 18, 2013 4:57am Jan 18, 2013 4:57am
Quoting Vantage
My 2 cents worth.

In the long run going with the flow ie the trend will serve you well. The EUR fall was CT but from a proven resistance level. So if you take that trade you do so in terms of your defined rules for CT.

The gu move up before LO was a classic head fake. Move up fails merely to revert to trend. Also an evening star type pattern. Nice sell just after LO.

So if you have 2 trades 1 in trend and 1 counter trend which one would probably be best option? Most likely all other things being equal the trend trade.
Thank you, Vantage, for your opinion....
Since I am still a newbie, I am trying to trade only as a trend follower then....
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