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  • #10,001
  • Jan 27, 2013 1:13pm Jan 27, 2013 1:13pm
Quoting lounge14
Hi hupipko,

Want to say how much a I appreciate you posting these pdf's. It is an extremely nice gesture and so valuable to those of us who are learning.

Regards
WOWWW!!! What an incredible resource. Thanks to Phx62 for sharing and his instruction and hupipko for putting together the pdfs for those of us struggling to learn.
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #10,002
  • Jan 27, 2013 9:17pm Jan 27, 2013 9:17pm
Quoting hupipko
I share the files that I keep update every day, it the might be useful for the beginners.
An extremeley important tool for learning the method, we cannot be thankful enough for his work.
Imre
Excellent, thank you both..
Ed
  • #10,003
  • Jan 28, 2013 3:02am Jan 28, 2013 3:02am
Good Morning

Today I took this a counter trend trade which often end me up on a stop loss, but fortunately it works out , I exited the trade with + 15 pips because of price pulling back and stalled on FIb 50 retracement

Reasons for Entry (TDI bounced and I think a 123 pattern if I'm not wrong) so anybody can clear me out about this was a 123 or not?

Guys the last 7 trades I took got me 6 successful trades with a 1 lost only, which is very good for me, I hope I can continue doing the same, studying Phx60 and Dee50 chart along with back testing and reading about Price Action
Attached Image (click to enlarge)
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I Have Learned to Take Some Losses to Make Profits
  • #10,004
  • Edited 3:42am Jan 28, 2013 3:29am | Edited 3:42am
Quoting TheScorpS
Good Morning

Today I took this a counter trend trade which often end me up on a stop loss, but fortunately it works out , I exited the trade with + 15 pips because of price pulling back and stalled on FIb 50 retracement

Reasons for Entry (TDI bounced and I think a 123 pattern if I'm not wrong) so anybody can clear me out about this was a 123 or not?

Guys the last 7 trades I took got me 6 successful trades with a 1 lost only, which is very good for me, I hope I can continue doing the same, studying Phx60 and Dee50 chart along with back testing...
Good morning TheScorpS,
Took the same trade as you did, moved SL=BE after +1pips, but got stopped out. On my chart 1.3425 is a confluence of a 38Fib level + the Daily Pivot.
Now the PA is around a minor S&R level( 1.3440). If it will breake it and I will see a TDI cross (which is quite close now) I will enter a LONG
  • #10,005
  • Jan 28, 2013 3:48am Jan 28, 2013 3:48am
Quoting gigicualex
Good morning TheScorpS,
Took the same trade as you did, moved SL=BE after +1pips, but got stopped out. On my chart 1.3425 is a confluence of a 38Fib level + the Daily Pivot.
Now the PA is around a minor S&R level( 1.3440). If it will breake it and I will see a TDI cross (which is quite close now) I will enter a LONG
I'm waiting Price Action to prove the way long and then I can enter long, with the cross of TDI , I just hope that I continue the day on the positive side
I Have Learned to Take Some Losses to Make Profits
  • #10,006
  • Edited 4:03am Jan 28, 2013 3:50am | Edited 4:03am
Quoting TheScorpS
Good Morning

Today I took this a counter trend trade which often end me up on a stop loss, but fortunately it works out , I exited the trade with + 15 pips because of price pulling back and stalled on FIb 50 retracement

Reasons for Entry (TDI bounced and I think a 123 pattern if I'm not wrong) so anybody can clear me out about this was a 123 or not?

Guys the last 7 trades I took got me 6 successful trades with a 1 lost only, which is very good for me, I hope I can continue doing the same, studying Phx60 and Dee50 chart along with back testing...
Quoting gigicualex
Good morning TheScorpS,
Took same trade as you did moved aftre 15 pips profit the SL to Be. and got stopped out. On my chart 1.3425 is a confluence of a 38Fib level + the Daily Pivot.
Now the PA is around a minor S&R level( 1.3440). If it will breake it and I will see a TDI cross (which is quite close now) I will enter a LONG

Hi S3 Traders,

Looks like you guys took the trade early before LO and you know it is counter trend.

Take a look at H4...
TDI PL went out of the BB and now cross back inside the BB. Wait for PA to go sideway and look for a Bearish divergence on H4 if you want to catch a good SELL.
It is too early to Sell until I see strong H4 PA setup like a bearish Candlestick pattern.
Be patient, it is only monday morning.
You must know which market trend you are trading.

However, for those trading the M15 TF, you can always trade the trend of that moment and catch smaller pips.

Trade Well!

Edit: Add EU H4 chart
Attached Image (click to enlarge)
Click to Enlarge Name: EU H4 Week 05 28 Jan 28-1-2013 5-58-46 PM.png Size: 34 KB
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,007
  • Jan 28, 2013 4:09am Jan 28, 2013 4:09am
Quoting emmanuel7788
Hi S3 Traders,

Looks like you guys took the trade early before LO and you know it is counter trend.

Take a look at H4...
TDI PL went out of the BB and now cross back inside the BB. Wait for PA to go sideway and look for a Bearish divergence on H4 if you want to catch a good SELL.
It is too early to Sell until I see strong H4 PA setup like a bearish Candlestick pattern.
Be patient, it is only monday morning.
You must know which market trend you are trading.

However, for those trading the M15 TF, you can always trade the trend of that moment...
Thank you Emmanuel for your input. I knew that it was a counter trend, that's why I've closely monitored the trade and moved the sl to be as soon as i got a small profit. Traded the 15 min chart ..should have set a TP of only 25 pips but i got greedy..
Now I'm starting to look on the 1h TF where the PA made a HH in comparation with the LO, change of HA candles colour,stoch cross, also TDI cross. I will wait for a little more confirmation, to brake the .3472(Asian high) before entering a LONG.
  • #10,008
  • Jan 28, 2013 5:19am Jan 28, 2013 5:19am
Quoting emmanuel7788
Hi S3 Traders,

Looks like you guys took the trade early before LO and you know it is counter trend.

Take a look at H4...
TDI PL went out of the BB and now cross back inside the BB. Wait for PA to go sideway and look for a Bearish divergence on H4 if you want to catch a good SELL.
It is too early to Sell until I see strong H4 PA setup like a bearish Candlestick pattern.
Be patient, it is only monday morning.
You must know which market trend you are trading.

However, for those trading the M15 TF, you can always trade the trend of...
Thanks emmanuel for explanation, I still dont know how to look at 4H and find analysis and entry based on Price Action, you notes can help us a lot, so 4H divergence, Pin Bar, Inside or Outisde bar , these kinds of PA that I should look for?

Thanks again
I Have Learned to Take Some Losses to Make Profits
  • #10,009
  • Jan 28, 2013 5:34am Jan 28, 2013 5:34am
Quoting emmanuel7788
Hi S3 Traders,

Looks like you guys took the trade early before LO and you know it is counter trend.

Take a look at H4...
TDI PL went out of the BB and now cross back inside the BB. Wait for PA to go sideway and look for a Bearish divergence on H4 if you want to catch a good SELL.
Spotted a Hidden Bullish Div on 1h TF, this could indicate further move up
Attached Image (click to enlarge)
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  • #10,010
  • Jan 28, 2013 6:33am Jan 28, 2013 6:33am
Quoting gigicualex
Spotted a Hidden Bullish Div on 1h TF, this could indicate further move up
But S3 uses the TDI which is a hybrid indicator using RSI 13-period.

I recommend that we stick to the TDI and use that to look for Divergence. CONSISTENCY is very important for long term profitablility in trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,011
  • Jan 28, 2013 6:40am Jan 28, 2013 6:40am
Quoting TheScorpS
Thanks emmanuel for explanation, I still dont know how to look at 4H and find analysis and entry based on Price Action, you notes can help us a lot, so 4H divergence, Pin Bar, Inside or Outisde bar , these kinds of PA that I should look for?

Thanks again
First, what is more important is to learn and draw the support and resistance on you chart. All the PA stuff with Candlestick (CS) pattern must occur at the key support and resistance levels to help you decide on higher probability trade setups.

There were already many posts by members here on CS patterns.
One good one is found in Post #2660.
http://www.forexfactory.com/showthre...84#post5280984

Check this out.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,012
  • Jan 28, 2013 7:10am Jan 28, 2013 7:10am
Quoting TheScorpS
Good Morning

Today I took this a counter trend trade which often end me up on a stop loss, but fortunately it works out , I exited the trade with + 15 pips because of price pulling back and stalled on FIb 50 retracement

Reasons for Entry (TDI bounced and I think a 123 pattern if I'm not wrong) so anybody can clear me out about this was a 123 or not?

Guys the last 7 trades I took got me 6 successful trades with a 1 lost only, which is very good for me, I hope I can continue doing the same, studying Phx60 and Dee50 chart along with back testing...
Spot On. You nailed it. Well done. You did not mention the Divergence but you got everything else.

I think some of the other guys got a bit confused, they are talking about the E/U but you traded the EUR/JPY
Attached Image (click to enlarge)
Click to Enlarge Name: Spot On 123.png Size: 13 KB
Cut your Losers short and let your Winners run.
  • #10,013
  • Jan 28, 2013 9:17am Jan 28, 2013 9:17am
Quoting TheScorpS
Good Morning

Today I took this a counter trend trade which often end me up on a stop loss, but fortunately it works out , I exited the trade with + 15 pips because of price pulling back and stalled on FIb 50 retracement

Reasons for Entry (TDI bounced and I think a 123 pattern if I'm not wrong) so anybody can clear me out about this was a 123 or not?

Guys the last 7 trades I took got me 6 successful trades with a 1 lost only, which is very good for me, I hope I can continue doing the same, studying Phx60 and Dee50 chart along with back testing...
Nice trade Scorps.....I took the same trade on the M15 chart with a little earlier entry on a cross of green over red and yellow and the 50 line. Am in another M15 trade right now on a cross of green over red and the 50 line.....hitting a daily resistance line right now....
Nice work Scorps...you are starting to see price action and entries....keep it up!
Attached Image (click to enlarge)
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  • #10,014
  • Jan 28, 2013 10:39am Jan 28, 2013 10:39am
Phx,

Could you please share your view on NYO entry?

http://img803.imageshack.us/img803/1...20130128v2.jpg

Market is uptrending for few days,
There were only moderate signs of trend reversals,
Prior to NYO, higher low appeared,
NYO candle became strong bull candle, rejecting new low and creating potential for long,
Green crossed red

I expected more bull strength, Asian high was broken. Eventually price reversed from yesterday's high. I exited at BE right after "red" news.

Cound you assess above trade, please?
If I may ask, why have you been trading E/J lately? Is it because its higher volatility in comparison to E/U?

Thankyou,
M.
Remember I'm a newbie!
  • #10,015
  • Jan 28, 2013 10:41am Jan 28, 2013 10:41am
Quoting fxtrade13
Hello PHx62,

What made you decide to switch to the M15 today?

I see sometimes you take trades on the M15. I've tried the M15 but it moves too fast, and gives to many fake out signals
and end up getting back-to-back losses.

Thanks.

Hi Phx62,

My question is there was a time when you were just trading 1 hr charts, going by your earlier posts. Therefore, in that scenario, would you have been tempted by a trade off the 1 hr this morning. We had a good support of the pivot which held up at 1.3426 with 3 tests and an early cross of TDI (before candle close). Just would be interested in your analysis of the PA looking at the 1 hr. Also, maybe a bounce TDI 'short'. I am trying to stay with 1 hr charts until I make good progress. This morning had me baffled, stayed out in the end.

Thanks
  • #10,016
  • Jan 28, 2013 11:44am Jan 28, 2013 11:44am
I do not have eur/jpy on my platform other wise I would have been trading it. But there were pips available on the eur/usd. When the market is ranging I use the 15 min, and I prefer all the information from standard bars. Today Divergence and S&R played a major part.

1st trade. Divergence. TDI pointing down. Entry at close of first red candle just 1 pip above BRN 3450. TDI crossed below 50 level. Very tight stop 10 pips because this is CT and short target 20 pips to minor support level. Bullish Divergence confirmed the exit.

2nd trade. Did not take the Bullish divergence because of the news. The news created a Pin Bar that bounced off minor support creating a Double Bottom. Bullish Divergence still in play and a prior cross of the TDI which had stayed pretty flat. Pin Bar created a TDI bounce and now Green & Red above Yellow, entered a few pips above the Pin Bar. Target was 5 pips below Prior resistance at 3480. Exit confirmed by Bearish Divergence.

3rd Trade. Bearisgh Divergence. Double Top. Pin Candle off 3480 Resistance. Price retraced back up the Pin Candle so took an entry at 3470. Tight stop at 3476, this is CT. Target 5 pips above support at 3430. TDI green turned down from the 68 level and continued to cross red. Confirming the trade.

Something to note. Not one of the divergences appeared on the TDI. This is why I use a stochastics it shows me what cycle we are in and clearly shows Divergence.
Attached Image (click to enlarge)
Click to Enlarge Name: 28 01 +20 +30 +35.png Size: 37 KB
Cut your Losers short and let your Winners run.
  • #10,017
  • Edited 12:48pm Jan 28, 2013 12:34pm | Edited 12:48pm
Quoting mierzyk
Phx,

Could you please share your view on NYO entry?

http://img803.imageshack.us/img803/1...20130128v2.jpg

Market is uptrending for few days,
There were only moderate signs of trend reversals,
Prior to NYO, higher low appeared,
NYO candle became strong bull candle, rejecting new low and creating potential for long,
Green crossed red

I expected more bull strength, Asian high was broken. Eventually price reversed from yesterday's high. I exited at BE right after "red" news.

Cound you assess above trade, please?
If I may ask,...
Q1.......I would hesitate to take a long trade on the NYO candle...Thurs & Fri of last week made strong moves up, then Friday's NY session and Sunday's Asian session consolidated making Friday's high point a resistance area to be aware of.....until that is broken, I would not enter long.....there is also a daily resistance line about 15 pips above Friday's high.....also the MBL (yellow) on the TDI is above the green and red, indicating market bias to be short...not long.....and the green and red are hanging around the 50 line....I would be looking for a retrace at least back to the 23.6 or the 38.2 fib (fibs from the high and low of last week) before looking for long trades.
Q2.....Yes, you are correct....I am trading the EJ because the volume is much greater right now than the EU.....the weekly range for the EU last week was 215 pips......the weekly range for the EJ last week was 586 pips.....more room to reach profit targets....using the same principles and trading plan, only on the EJ.
  • #10,018
  • Jan 28, 2013 12:37pm Jan 28, 2013 12:37pm
Quoting dee50
I do not have eur/jpy on my platform other wise I would have been trading it. But there were pips available on the eur/usd. When the market is ranging I use the 15 min, and I prefer all the information from standard bars. Today Divergence and S&R played a major part.

1st trade. Divergence. TDI pointing down. Entry at close of first red candle just 1 pip above BRN 3450. TDI crossed below 50 level. Very tight stop 10 pips because this is CT and short target 20 pips to minor support level. Bullish Divergence confirmed the exit.

2nd trade. Did not...
Nice analysis and trades, Dee.....
  • #10,019
  • Jan 28, 2013 12:44pm Jan 28, 2013 12:44pm
Quoting lounge14
Hi Phx62,

My question is there was a time when you were just trading 1 hr charts, going by your earlier posts. Therefore, in that scenario, would you have been tempted by a trade off the 1 hr this morning. We had a good support of the pivot which held up at 1.3426 with 3 tests and an early cross of TDI (before candle close). Just would be interested in your analysis of the PA looking at the 1 hr. Also, maybe a bounce TDI 'short'. I am trying to stay with 1 hr charts until I make good progress. This morning had me baffled, stayed out in the end....
The 1 hr charts are the way to go.....I still prefer the 1 hr but with the market ranging today, I traded some M15's. For a long time, I only traded H1... ..I needed to learn and understood more about market harmonics and price action.....as I learned that, I became more comfortable scalping a few pips on lower time frames.
See my post above for analysis of the EU H1 this morning.....with the daily range being only 52 for today, I wouldn't expect any breakout trades. Staying out was the smart move today....
  • #10,020
  • Edited 3:01pm Jan 28, 2013 2:04pm | Edited 3:01pm
DEE50 and Pxh60

Today you have made my day, you encouragement is can push me even harder in understanding market harmony. And price action, reasoning a trade entry with basic market physiology is what really matters to me, keeping things simple, today I entered on EURO / YEN morning. Just minutes before LO and price first went against me almost 20 pips before continuing my in the direction of my trade and even it made +30 pips in my favor but. Later on exited with 15 pips

I'm writing from tablet so please bear with my grammatical mistake

Emmanuel, the files you posted from earlier in this thread are valuable, I have someone of them but the one about candle reversal pattern is new new in my library that is invaluable, I look at it in fast forward and it holds very very important information on candles reversal along with price action theories, thanks a lot

I think phx60 has mentioned earlier that for us new traders the 15 min chart would hold a lot of whipsaws ,so staying with 1H chart for the time being until I hold a grip on the method and then only I can look lower on the 15 min chart
I Have Learned to Take Some Losses to Make Profits
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