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Another simple system - Time-Frame 15

  • #19,401
  • Jan 30, 2013 7:07pm Jan 30, 2013 7:07pm
Quoting emmanuel7788
May be just profit taking now ahead of the month closing.
I was following too close last night, 2 red H1 candles show up and I jumped out quickly before the US GDP data. Then came that nasty spike down which was obvious taking out all 2xATR(10) technical stops. Now it again consolidates.
A nice H1 pattern showed up but which direction will it POP?

Let's see how this will move be later during the Euro and US sessions.
It is month end closing. The MN and W1 candles are just too strong bulls to be stopped so easily.
IMHO, it will take several...
yep, eventually it will have to pop north is my opinion. yen printing, unlimited dollar printing until unemployment rate drops below 6.5. it's gonna be very fun year. sticking to the technicals. riding the trend is what i'm planning.
  • #19,402
  • Jan 30, 2013 7:39pm Jan 30, 2013 7:39pm
What is technical stop using ATR?

Hi,

A few traders PM and asked me where do I place my stop s before the US GDP data release.
So I thought it will benefit more people here when I post my explanation what I mean by using ATR to determine the technical stops.
The lessons I learned after years of trading is trading the news is never worthwhile when we use small stops.
It is more often than not that we exit our trades and take whatever profits in the bag than to risk that what the market already gave us.
Exit before news release, ... wait until the market settles and look for the next trade setup.

Trade Well and Trade Smart.
Attached Image (click to enlarge)
Click to Enlarge Name: Using ATR stops.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,403
  • Jan 30, 2013 8:31pm Jan 30, 2013 8:31pm
Quick short CT scapl EJ trade!+20 pips now!
Attached Image (click to enlarge)
Click to Enlarge Name: EJ2013-01-31_092942.png Size: 30 KB
  • #19,404
  • Jan 30, 2013 8:33pm Jan 30, 2013 8:33pm
GU 31 Jan

Something interesting is cooking...
Is GU making a recovery?

Anyone want to share his/her view for today.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 31 Jan 31-1-2013 10-31-03 AM.png Size: 18 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,405
  • Jan 30, 2013 10:37pm Jan 30, 2013 10:37pm
Quoting emmanuel7788
EJ H4 Channel technique:

Here is an example on how to use H4 channel.
Practice this now and draw a new update channel on H4 with TDI cross down.

Hi Emmanuel,

question about this channel Line technical....

when the price touch top/bottom( point 123 on above chart) of channel Line , we look for TDI cross for comfirmation???have to wait for Price close below 10eMA???
  • #19,406
  • Jan 31, 2013 12:34am Jan 31, 2013 12:34am
Quoting lowweiting
Hi Emmanuel,

question about this channel Line technical....

when the price touch top/bottom( point 123 on above chart) of channel Line , we look for TDI cross for comfirmation???have to wait for Price close below 10eMA???
I use TDI cross to identify the 3 points 1,2 and 3 for me to draw the channel... got that?

then I trade using this price channel be it a rising channel or a falling channel... ok, you following me?

once you have the price channel extend forward/ to the right of your chart, you look for Price Action to BUY or SELL within this price channel... ok?

Sometime the price trade nicely within the upper and lower channel lines.
Other times, it breakout and the channel lines become support and resistance like what happened to EJ this week. It broek out of the upper channel, then back re-tested and bonce off the upper channel. All these you can see the PA...can you see that?

Now, the harder part, there is a new channel established this week, and PA tested the new channel and is now bounce back down...have you done your homework and draw the new channel on H4...if not, do your homework and post your H4 chart.

The TDI is good to use as your guide. But reading Price Action is leading over the TDI. This is the much harder to master for many traders.

Always, follow the 10EMA rule in this thread. It is 10EMA on all TFs - D,H4, H1 and M15. Once you learn PA and how to reconcile PA with this 10EMA in all TF's ... you will then have your own Master Key to trade this method.

Keep Learning.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,407
  • Jan 31, 2013 12:47am Jan 31, 2013 12:47am
Here is EJ H4 price channel update:
Attached Image (click to enlarge)
Click to Enlarge Name: EJ week 05 channel update.png Size: 78 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,408
  • Jan 31, 2013 12:54am Jan 31, 2013 12:54am
Nice chart. Here's what I'm looking at on a smaller timeframe....
Attached Image (click to enlarge)
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What is any ocean but a multitude of drops?
  • #19,409
  • Jan 31, 2013 1:05am Jan 31, 2013 1:05am
Quoting Xhale12
Nice chart. Here's what I'm looking at on a smaller timeframe....
Nice, it will break your M15 falling channel...

ride the smaller waves and make plenty of pips

http://www.forexfactory.com/attachme...1&d=1359615265
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,410
  • Jan 31, 2013 1:46am Jan 31, 2013 1:46am
Quoting emmanuel7788
Nice, it will break your M15 falling channel...

ride the smaller waves and make plenty of pips

http://www.forexfactory.com/attachme...1&d=1359615265

hmmm...Maybe not. I'm still very wary of all shorts on the major yen crosses. Like you said earlier and I concur, Monthly and Weekly Momentum still too strong
  • #19,411
  • Jan 31, 2013 1:59am Jan 31, 2013 1:59am
GU trade 30 Jan:

Here is my Gu trade opened last night on btreakout of the consolidation area.
Today is a H4 IB breakout and breaking yesterday's D high.
Trade is now BE so let see how much the run up will go.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 31 Jan 31-1-2013 9-59-13 AM.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,412
  • Jan 31, 2013 2:10am Jan 31, 2013 2:10am
Quoting emmanuel7788
GU trade 30 Jan:

Here is my Gu trade opened last night on btreakout of the consolidation area.
Today is a H4 IB breakout and breaking yesterday's D high.
Trade is now BE so let see how much the run up will go.

Euro is so strong now. Just a matter of time before cable wants a piece of the action.
  • #19,413
  • Jan 31, 2013 6:24am Jan 31, 2013 6:24am
Hi, Emmanuel and guys!!!...long time ago my last post...

but this system is incredible...few months now i've been trading with...and i'm so happy...

I have a question what do you think about a divergence on a monthly chart?? is this credible??

i attach the EUR/AUD chart..what do you think??

thanks...have a good trading..
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD monthly.jpg Size: 112 KB
  • #19,414
  • Jan 31, 2013 8:24am Jan 31, 2013 8:24am
Hi Jordfx, can you tell me why this entry was not good ? 1h pinbar
thx
Attached Image(s) (click to enlarge)
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  • #19,415
  • Jan 31, 2013 8:44am Jan 31, 2013 8:44am
Quoting Turbobzik
Hi Jordfx, can you tell me why this entry was not good ? 1h pinbar
thx
It simply went against the trend. 200EMA just a few pips below. Correct me if I'm wrong.
Accept as it is being!
  • #19,416
  • Jan 31, 2013 8:45am Jan 31, 2013 8:45am
Quoting Turbobzik
Hi Jordfx, can you tell me why this entry was not good ? 1h pinbar
thx

Hey buddy, good of you to post your charts and ask questions. Thats the best way to learn. Not by lurking as so many do. before I answer your question though, why not tell WHY YOU think thats a good entry? That will help evaluate your thought processes and straighten you out faster. What do you say?
  • #19,417
  • Jan 31, 2013 8:46am Jan 31, 2013 8:46am
Quoting Vnfx
It simply went against the trend. 200EMA just a few pips below. Correct me if I'm wrong.

That's definitely one isn't it?
  • #19,418
  • Jan 31, 2013 8:55am Jan 31, 2013 8:55am
yen crosses about to have a breakout.

if rejects (highly unlikely, imo) then south. if we take out then to the moon alex.
  • #19,419
  • Jan 31, 2013 9:11am Jan 31, 2013 9:11am
Quoting pkimnyc
yen crosses about to have a breakout.

if rejects (highly unlikely, imo) then south. if we take out then to the moon alex.

My thots exactly!
  • #19,420
  • Jan 31, 2013 9:18am Jan 31, 2013 9:18am
Quoting Turbobzik
Hi Jordfx, can you tell me why this entry was not good ? 1h pinbar
thx
you shorted right above the demand zone, plus in an uptrend.
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