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  • #9,921
  • Jan 22, 2013 9:20am Jan 22, 2013 9:20am
Sorry, I did not show this chart. This is divergence on the 1 hr following that ridiculus nose dive. The divergence drew my attention to the first trade which was more obvious on the 15 min chart I posted previously.
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #9,922
  • Jan 22, 2013 9:56am Jan 22, 2013 9:56am
Thanks Dee again

I got into the long trade but got only 12 pips, and then jumped on the short trade and got 30 pips

so far a good day on my side

but still a lot to learn
I Have Learned to Take Some Losses to Make Profits
  • #9,923
  • Jan 22, 2013 10:04am Jan 22, 2013 10:04am
Hi,

I had a losing trade today on EU H4. I entered long after the bullish TDI cross and after the price tested the 1.33000 support area which coincides the Fib 38.2 level of the previous's week and bounced off. The price was above ema(200) and ema(50) so I considered it as a valid long entry. I set my SL to 1.32937, TP below the 1.34000 so approximately having 1:1 R:R and left. When I came back I realized that my SL was hit very quickly.
In hindsight I see there were clear signs (divergences) on lower TFs what dee50 made a very nice profit from.

I have a NZDUSD H4 long trade running, first hald already closed in profit, the rest is still open and SL set to positive.

take care,
thrax
Attached Image(s) (click to enlarge)
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  • #9,924
  • Edited Jan 23, 2013 9:09am Jan 22, 2013 11:26am | Edited Jan 23, 2013 9:09am
Trades so far this week on EU H1.
EDIT.....on the chart I stated "SL @ previous resistance" and "SL @ 200EMA".....all 3 of those statements should have stated TP instead of SL.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.1.20-22 eu h1.gif Size: 50 KB
  • #9,925
  • Jan 22, 2013 8:40pm Jan 22, 2013 8:40pm
Quoting dee50
Sorry, I did not show this chart. This is divergence on the 1 hr following that ridiculus nose dive. The divergence drew my attention to the first trade which was more obvious on the 15 min chart I posted previously.
Hi Dee , thanks for posting your charts , brilliant as always .One question , about the fibs , i can see where you took the one from but not the other one , (not visible on chart) .Can you please explain as I'm trying hard to learn (as usual).
Also, Thanks to you I'm really starting to look for the 123
  • #9,926
  • Jan 23, 2013 12:22am Jan 23, 2013 12:22am
Quoting Phx62
Trades so far this week on EU H1.

Thanks Phx62 for showing us great trades, hope one day I reach the discipline and management like yours

1 - First trade on the left side of the chart , 18 - 1 - 2013 , there were 4 blue candles followed by the fifth blue which almost showed a bullish entry, why that entry was a fake-out? I think on my side I would have entered long

2- The last 2 trades were taken after a pullback candles, so should I enter after the new hour red candles that formed or wait until a bearish candle confirm the downtrend and then only enter?

I print your chart and add them to your previous printed chart for studying

Thanks again for valuable contribution into the thread
I Have Learned to Take Some Losses to Make Profits
  • #9,927
  • Edited 5:02am Jan 23, 2013 3:42am | Edited 5:02am
Hello,

I've just entered a LONG trade on EUR/USD after LO based on Phx method. PA bounce off the 200EMA and makes a HH after LO candle. TDI and Stoch cross, there is also a Bullish divergence. SL at S&R level of 1.3279 and TP 40 pips (around yesterday's high.

Let's see what happens


UPDATE: Closed the trade with 15pips profit after first red HA appeared
Attached Image (click to enlarge)
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  • #9,928
  • Jan 23, 2013 4:43am Jan 23, 2013 4:43am
Quoting robuk
Hi Dee , thanks for posting your charts , brilliant as always .One question , about the fibs , i can see where you took the one from but not the other one , (not visible on chart) .Can you please explain as I'm trying hard to learn (as usual).
Also, Thanks to you I'm really starting to look for the 123
I place multiple Fibos on the chart and look for confluence. If one of the fibos has no confluence I take it off the chart to reduce the number of lines showing, e.g The first fibo at 2013.01.04 only produced confluence with the 2013.01.09 fibo at the 89% and 100% which was so far away from the price that it was not relevant. So, I leave on the chart Confluence fibos and the fibo closest to the PA. I tend to use the 4 hr chart for placing longer term fibos and the Trading time frame for placing trading fibos.

Hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: Fibos.png Size: 37 KB
Cut your Losers short and let your Winners run.
  • #9,929
  • Jan 23, 2013 5:46am Jan 23, 2013 5:46am
Quoting dee50
Sorry, I did not show this chart. This is divergence on the 1 hr following that ridiculus nose dive. The divergence drew my attention to the first trade which was more obvious on the 15 min chart I posted previously.

Hello Dee,

Would you consider the below a valid 123 pattern?
The pullback is sitting on a Fib level which is also an ex Resistance level, turned in support.

Thank you in advance for your reply
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 17 KB
  • #9,930
  • Jan 23, 2013 6:02am Jan 23, 2013 6:02am
Quoting gigicualex
Hello Dee,

Would you consider the below a valid 123 pattern?
The pullback is sitting on a Fib level which is also an ex Resistance level, turned in support.

Thank you in advance for your reply
No. If you look earlier at the swing low a 123 formed there first, confirming the reversal, however this could be a warning for a possible 123 forming on a Higher timeframe which would be a valid signal.
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 13 KB
Cut your Losers short and let your Winners run.
  • #9,931
  • Jan 23, 2013 6:17am Jan 23, 2013 6:17am
What we just had on the EU 15 min was a triangle. The attached will explain Triangles and Pennants.
Attached File(s)
File Type: pdf Triangles.pdf   119 KB | 838 downloads
File Type: pdf Pennants.pdf   78 KB | 585 downloads
Cut your Losers short and let your Winners run.
  • #9,932
  • Jan 23, 2013 6:36am Jan 23, 2013 6:36am
Typical Triangle
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #9,933
  • Jan 23, 2013 8:23am Jan 23, 2013 8:23am
123 And Again this time short. The hourly TDI has not crossed yet but this gives you the heads up.
Attached Image (click to enlarge)
Click to Enlarge Name: 123 num2.png Size: 36 KB
Cut your Losers short and let your Winners run.
  • #9,934
  • Jan 23, 2013 8:34am Jan 23, 2013 8:34am
Quoting dee50
123 And Again this time short. The hourly TDI has not crossed yet but this gives you the heads up.
Dee, what settings do you have for your stochastics (exponential, simple, high/low, close) - the reason I am asking is that there is no divergence in my stoch. Thanks.
  • #9,935
  • Jan 23, 2013 8:36am Jan 23, 2013 8:36am
Does anybody know what time the House will be voting on the debt ceiling today? Thanks
  • #9,936
  • Jan 23, 2013 9:18am Jan 23, 2013 9:18am
Quoting MidnightRun
Dee, what settings do you have for your stochastics (exponential, simple, high/low, close) - the reason I am asking is that there is no divergence in my stoch. Thanks.
8,3,3. simple. low/high
Cut your Losers short and let your Winners run.
  • #9,937
  • Jan 23, 2013 9:23am Jan 23, 2013 9:23am
Quoting dee50
8,3,3
In case we have something like below which divergence is good to take in consideration?
I have both a regular Bearish and a hidden bullish divergences.
Attached Image (click to enlarge)
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  • #9,938
  • Jan 23, 2013 9:38am Jan 23, 2013 9:38am
Quoting TheScorpS
Thanks Phx62 for showing us great trades, hope one day I reach the discipline and management like yours

1 - First trade on the left side of the chart , 18 - 1 - 2013 , there were 4 blue candles followed by the fifth blue which almost showed a bullish entry, why that entry was a fake-out? I think on my side I would have entered long

2- The last 2 trades were taken after a pullback candles, so should I enter after the new hour red candles that formed or wait until a bearish candle confirm the downtrend and then only enter?

I print your chart...
1. First trade....
a. because of the time of day (with London about to open) I would not have considered a long unless the LO candle confirmed a continuation of the first 5 candles.
b. My trading plan is based on the TMS system and most trades are taken on the first or second candle that changes color, following a set-up candle....as you stated there were 5 blue candles just before LO so I would have to see a reversal and then a continuation of the original trend to enter long. All four of the trades were taken following a pullback candle....Trade 1....LO candle failed to break the high of the previous candle, then pulled below the support line...I entered that trade as it broke the low of the previous candle, placing my TP above the S/R line.....the entry was confirmed by the TDI green RSI Price line crossing over the red Trade Signal line and the yellow Market Base line.
2. Again....per the TMS system, CT trades are taken on the first or second candle following a set-up candle....in the case of trade 3, the LO candle changed color and pulled back, once there was a continuation of that move I made an entry....please note the green TDI was pulling out of the overbought area and about to cross the TS line.
On the last trade....the blue candle pulled back a long way and the TDI had already changed direction, so entry was made on the first red candle...
Hope this answers your questions.....
  • #9,939
  • Jan 23, 2013 9:47am Jan 23, 2013 9:47am
EJ H1 trades taken today....TP on the first trade was moved to 100 but price reversed....exited with +67....second trade taken a little late but TDI had already crossed green over red and was about to cross yellow.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.1.23 ej h1.gif Size: 34 KB
  • #9,940
  • Jan 23, 2013 10:48am Jan 23, 2013 10:48am
I got a question about entries. You wait for TDI to cross, or you wait for it to cross and that candle closes ? . I mean, you wait for candle close to enter? or you just need to see a cross? ....
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