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Another simple system - Time-Frame 15

  • #19,161
  • Jan 22, 2013 1:18am Jan 22, 2013 1:18am
easy 70 pipper. i'm done for the week. gn folks.
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  • #19,162
  • Jan 22, 2013 2:20am Jan 22, 2013 2:20am
EUR

Scare story of EUR big bank probs may have set up opport for big boys to take out lot of stops on downside of EU. big bounce off day 10MA and BRN when BIG +ve German ZEW figs came out

On 15 min waited for bounce off BRN from lower side to then retest ADR low and Day 10MA (800 on 15 min). in a little late but in below BRN

On 4 hour this could set up for push north (but i'm just going to follow the pa

:-)
P
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Click to Enlarge Name: eu 15 min 22 jan 2013.jpg Size: 141 KB
  • #19,163
  • Jan 22, 2013 2:22am Jan 22, 2013 2:22am
here's one with the trade attached
P
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  • #19,164
  • Jan 22, 2013 2:59am Jan 22, 2013 2:59am
Quoting Downunder
Hi Emmanuel, i can manually scroll back to 1996 on daily, but on 15min only to july 2012 , but i cant get simulator to select a time period at all even say aug - nov 2012. No problem if no answer to this, ill search a solution, dont want to distract anyone from your/their trading.

Thanks
the history saved on your local counted on the number of bars. so let's say 100 bar on D1 will be far away compared to 100 bar on M1.
  • #19,165
  • Jan 22, 2013 3:36am Jan 22, 2013 3:36am
Emmanuel, can you help me figure out why this Buy/Sell scripts are not working when I attach to my charts? I figure you're good with stuff like this? Tnx a bunch.
Attached File(s)
File Type: mq4 Multiorder_Buy.mq4   2 KB | 414 downloads
File Type: mq4 Multiorder_Sell.mq4   2 KB | 398 downloads
  • #19,166
  • Jan 22, 2013 3:39am Jan 22, 2013 3:39am
Quoting pkimnyc
easy 70 pipper. i'm done for the week. gn folks.
Nice trade as usual. The 5mtf makes it quite daunting after LE1s caution, but I noticed that divergence was not visible on the 15mtf. Interesting. Might start to brave it now. But we still need to strongly caution newbies to stay out of the 5min.
  • #19,167
  • Jan 22, 2013 3:41am Jan 22, 2013 3:41am
Quoting peetee09
here's one with the trade attached
P
  • #19,168
  • Jan 22, 2013 3:53am Jan 22, 2013 3:53am
Quoting Downunder
Hi Emmanuel, i can manually scroll back to 1996 on daily, but on 15min only to july 2012 , but i cant get simulator to select a time period at all even say aug - nov 2012. No problem if no answer to this, ill search a solution, dont want to distract anyone from your/their trading.

Thanks
Quoting dreamcatcher
the history saved on your local counted on the number of bars. so let's say 100 bar on D1 will be far away compared to 100 bar on M1.
There is a limit in the number of price bars you can show in your chart.
I had this problem long time ago. But I think dreanmcatcher knows this too well.

here is what you can change in Tools>Options.

Hint: If you want your MT4 to run fast in your PC, simply limit the number of bars to show in your chart to as small as possible so your indicators will not have to work hard everytime it receives a new price tick.

regards,
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,169
  • Jan 22, 2013 3:57am Jan 22, 2013 3:57am
Quoting emmanuel7788
Hi lowweiting,

You read your charts well. Good job.
Inside Bars and reversal patterns are important CS patters to known and spot them in all TFs - M15, H1, H4 and D.
These will put you in the market ahead of the crowd.
Once you know these, it will be easier and quicker to see them when they show up on your live charts.

What is more important is to do your Big Picture and have a plan ready to trade.
Breakouts are fast and you must learn to get into the market before that breakout. This sounds familiar, right? (words from the stone age...
thk Emmanuel for looking at my chart....

about inside Bar have question at below chart...both also break mother Bar but different resulti know last time Emmanuel have post the PDF about IB but just briefly....

and Emmanuel can show newbie some example of any signal show that it will break out of mother Bar....

sorry for any convenience....i know u r nice teacher....LOL
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  • #19,170
  • Jan 22, 2013 4:06am Jan 22, 2013 4:06am
Quoting jordfx
Emmanuel, can you help me figure out why this Buy/Sell scripts are not working when I attach to my charts? I figure you're good with stuff like this? Tnx a bunch.
Ok, your request done.
These two very old written script not updated for 5-digits brokers.
It run in my 4-digit broker.

Now you may have to consider to change broker. LOL.
.... just because of 2 scripts. surely not worth it.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,171
  • Jan 22, 2013 4:12am Jan 22, 2013 4:12am
Quoting emmanuel7788
Ok, your request done.
Thee two very old written script not updated for 5-digits brokers.
It run in my 4-digit broker.

Now you may have to consider to change broker. LOL.
.... just because of 2 scripts. surely not worth it.

regards,
  • #19,172
  • Edited 4:45am Jan 22, 2013 4:26am | Edited 4:45am
Quoting emmanuel7788
There is a limit in the number of price bars you can show in your chart.
I had this problem long time ago. But I think dreanmcatcher knows this too well.

here is what you can change in Tools>Options.

Hint: If you want your MT4 to run fast in your PC, simply limit the number of bars to show in your chart to as small as possible so your indicators will not have to work hard everytime it receives a new price tick.

regards,
Thanks Dreamcatcher and Emmanuel, I will look into it...

Regards

By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #19,173
  • Jan 22, 2013 4:37am Jan 22, 2013 4:37am
Quoting jordfx
Nice trade as usual. The 5mtf makes it quite daunting after LE1s caution, but I noticed that divergence was not visible on the 15mtf. Interesting. Might start to brave it now. But we still need to strongly caution newbies to stay out of the 5min.
Wasn't just with divergence. Wave count was done on 15 min tf which I didn't post. Along with 4hr momentum. Sorry for confusion.
For the new people: I dont take trades based on just one tf. Just because i posted 5 min chart doesnt mean the entire trade decision was based on that tf only.
  • #19,174
  • Jan 22, 2013 8:13am Jan 22, 2013 8:13am
Lots of nice trades posted earlier surprised there aren't more this afternoon.

Anyway after the big push up from the W S1/S3 117.30 area 1hr lower high shooting star, 15 min lower high through ma. Happy to exit +51.
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  • #19,175
  • Jan 22, 2013 4:01pm Jan 22, 2013 4:01pm
Quoting lowweiting
thk Emmanuel for looking at my chart....

about inside Bar have question at below chart...both also break mother Bar but different resulti know last time Emmanuel have post the PDF about IB but just briefly....

and Emmanuel can show newbie some example of any signal show that it will break out of mother Bar....

sorry for any convenience....i know u r nice teacher....LOL
http://www.forexfactory.com/attachme...1&d=1358855771

Hi lowweiting,

Sorry I was busy last night and I will try answer your question now.

First, inside bars are just one of those narrow range price bars which are view as market consolidation and we anticipate price to breakout when more market participants join in the market and liquidity return.

We cannot predict which direction of the breakout. But in trending market, the breakout can be picked out easier when we use this 10EMA method PA and also TDI in higher TF. Notice I pick only H4 and D inside bars to trade.
There are different entries - conservative and aggressive.
Conservative entry only when price break the mother bar.
Aggressive entry when price action remain within the mother bar or sometimes within the inside bar range itself. M15 PA is good for this.

When market is sideway or when trend reach exhaustion, the breakout may not be that clear. We need to anticpate this and rely more on the use of chart/candlstick patterns with S&R. Under this situation, we must be prepared to take the opposite breakout when the first breakout fail. there will be occassion when the second brekout fail and we revserse back to the first breakout direction. I can safely say 80% of the time the 3rd breakout will succeed.

But, having said this, it is how we read the PA on M15 that will put us in the market before the actual breakout itself. Reading the M15 PA using 10/50/200 and 800 EMAs also help put us in the higher probability direction.
We use smart money management to trade breakouts. Enter al small risk, and only build up to full positions and add positions when the breakout trade is profitable and BE. You need to captitalise on the breakouts and ride the trending move.
Learn to stay in the market and don't get out so easily. Take a longer term view of the market moves.


Today AU is a good example whether market will continue upwards. Remember those S&R I posted yesterday, Those a historical S&R and also recent D S&R 1.05685 and 1.05775. We don't pluck from air any price levels to play with. You can see how price play at these two levels.

Trade Well!

More comments on your chart posted yestreday.
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Click to Enlarge Name: loweiting AU 22 Jan .png Size: 153 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,176
  • Jan 22, 2013 4:42pm Jan 22, 2013 4:42pm
Quoting BorisViven
my EU CT at london open
+22 pips with 10 pips SL

I closed it because i was happy with a 2:1 R:R (for a counter trend)
but i hesitated to let it run and look : 70 pips move !!!

Peace
dom
Hi BorisViven,

Can you explain why did you take this CT ?

Thank you
  • #19,177
  • Jan 22, 2013 9:43pm Jan 22, 2013 9:43pm
Quoting emmanuel7788
http://www.forexfactory.com/attachme...1&d=1358855771

Hi lowweiting,

Sorry I was busy last night and I will try answer your question now.

First, inside bars are just one of those narrow range price bars which are view as market consolidation and we anticipate price to breakout when more market participants join in the market and liquidity return.

We cannot predict which direction of the breakout....

This is mine today AU....can Emmanuel have a look ???any wrong on my setup please correct me....

thk Emmanuel for spending so much time in this thread....really learn alot.....!!!!!!
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  • #19,178
  • Jan 22, 2013 10:26pm Jan 22, 2013 10:26pm
Quoting lowweiting
This is mine today AU....can Emmanuel have a look ???any wrong on my setup please correct me....

thk Emmanuel for spending so much time in this thread....really learn alot.....!!!!!!
My 2 cents. All in all a great counter trend trade. The only thing I'd say that you didn't mention is the proven resistance level at the high clearly seen from your D chart.

Nice one.
  • #19,179
  • Jan 22, 2013 11:36pm Jan 22, 2013 11:36pm
Quoting Vantage
My 2 cents. All in all a great counter trend trade. The only thing I'd say that you didn't mention is the proven resistance level at the high clearly seen from your D chart.

Nice one.
Thk Vantage for reply,

some newbie question wana ask Vantage...can help me have a look at the below AU Daily and 4H chart???
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  • #19,180
  • Edited 11:56pm Jan 22, 2013 11:52pm | Edited 11:56pm
Quoting lowweiting
Thk Vantage for reply,

some newbie question wana ask Vantage...can help me have a look at the below AU Daily and 4H chart???
Toughie, you might have missed the boat. A 4hr chart hides a lot, good 1hr candles can straddle 2 x 4hr candles.

In general if you believe in move back up you might not be able to wait for 4hr candle to close. You need to be getting in with enough space between entry and resistance level that you can either exit in full or partially to bank some profit and to see if upper level fails.

1hr chart shows stall for 5 hours so if I traded AUD I'd already have been looking to get back in based on that and not worry that multiple good 1hr candles get lost between 2 4hr candles.

Your 4hr does not show these 5 hours of stall and turn with positive close engulfing.
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