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Another simple system - Time-Frame 15

  • #19,501
  • Feb 1, 2013 3:25am Feb 1, 2013 3:25am
Quoting jordfx
Where did you place your initial stop loss on that entry?
Oh, I forgot to mention it. At first I wanted to place it on the 50%, but then I changed my mind (seen a few pullbacks touching the 50% in the past) and placed it a bit lower (somewhere in the middle of 68% and 50% - luckily I wasn't stopped out).
  • #19,502
  • Feb 1, 2013 3:35am Feb 1, 2013 3:35am
it's another full on day at the office

Great going Xhale!

P

Quoting Xhale12
Patting myself on the back for these two. Starting to get my entries down a bit earlier than usual..... Im out with all the news coming up.

33 on EU 50 on EJ
  • #19,503
  • Feb 1, 2013 3:39am Feb 1, 2013 3:39am
Quoting TakeUrPills
Oh, I forgot to mention it. At first I wanted to place it on the 50%, but then I changed my mind (seen a few pullbackstouching the 50% in the past) and placed it a bit lower (somewhere in the middle of 68% and 50% - luckily I wasn't stopped out).
Don't count on luck! What was your logic in entering A BUY order just below a BRN, below the 10ema and on the close of a bearish candle????
  • #19,504
  • Feb 1, 2013 4:05am Feb 1, 2013 4:05am
I went short on ej from were the arrow is pointing
reason =ct price below 10ema and rn pls advice
thanks you
Attached Image (click to enlarge)
Click to Enlarge Name: tis trade11.gif Size: 73 KB
  • #19,505
  • Feb 1, 2013 4:10am Feb 1, 2013 4:10am
Quoting gulayetty
I went short on ej from were the arrow is pointing
reason =ct price below 10ema and rn pls advice
thanks you
Your reason for entering a trade is simply because its below a moving average and a RN? Doesn't make much sense.

You went short right where I got in long. Take a look at the chart I posted a few minutes ago.... Should explain why it was not a good trade.
What is any ocean but a multitude of drops?
  • #19,506
  • Feb 1, 2013 4:19am Feb 1, 2013 4:19am
Quoting lowweiting
Hi Emmanuel,

below chart is 15M of 4H IB...( ur chart IB )....i still not really understand how to u trade break of mother bar ....can show us (newbie)???

really wan know the answer.... thk Emmanuel
Mmmmh well what we looked for.

EJ is in a mega trend, so any pullbacks are opportunities to get into it. 4 hr chart - 3 hammers with lower wicks yesterday suggested it wants to go up in line with the trend. We have on several occasions over the last couple of months seen that US session will take it up if nothing done that day and even worse for us as we are asleep the Asian session/pre Frankfurt open will. Often these are the cleaner moves with London choppy.

We entered where you highlighted on chart and exited at +200. Reasons mainly a good 1hr set up candle and the simple fact that EJ had done nothing for the day with all those lower wicks on 4hr. Something had to give.
  • #19,507
  • Feb 1, 2013 4:22am Feb 1, 2013 4:22am
Quoting peetee09
LE1 TIME FRAME 15

Learning #3 Money Management. Part Two

Trading is a bit like swimming, if you read a book on how to swim, learn the stokes, how to breath, then if I threw you off the boat and said swim to shore, how would you do? :-)

Doing trading in demo mode is much like reading the book, it has almost nothing to do with actual trading, the fear takes over, you can't touch the bottom, get underway. Did I mention that the water is full of sharks after your flesh, that there are poisonous...
Great.
Thks
allhappy
  • #19,508
  • Feb 1, 2013 4:23am Feb 1, 2013 4:23am
Quoting TakeUrPills
Hello!

Guys, what do you think about this trade? I should have entered later (after the bounce from 50% Fib), i know. Do you see anything else I didn't notice.
I am new to trading, getting up on speed reading this epic thread.

Thanks in advance.

putting a buy entry at the end of a red H1 candle which looks like a bearish pin bar does not make any sense.

where would you place your initial SL for such entry?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,509
  • Feb 1, 2013 4:27am Feb 1, 2013 4:27am
Quoting Vantage
Mmmmh well what we looked for.

EJ is in a mega trend, .....

it is a super mega trend ... 6 months rally now entering its seventh month.
when will be the mega correction? anybody guess...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,510
  • Feb 1, 2013 5:01am Feb 1, 2013 5:01am
Quoting emmanuel7788
it is a super mega trend ... 6 months rally now entering its seventh month.
when will be the mega correction? anybody guess...
Absolutely no retrace on Monthly since position traders got interested in November. I'm even setting sights on 168.000 EJ now. What a trend.
  • #19,511
  • Feb 1, 2013 5:03am Feb 1, 2013 5:03am
Quoting gulayetty
I went short on ej from were the arrow is pointing
reason =ct price below 10ema and rn pls advice
thanks you
Buddy, even the Bollinger Band you got on your chart is screaming that you are at a resistance point there? Why short? And even after a rejection pinbar to boot!
  • #19,512
  • Feb 1, 2013 5:18am Feb 1, 2013 5:18am
Quoting Helee
Thx emmanuel7788, Your print screens speaks more than a thousand words. You have been insisting on those 38 and 50% pullback, very soon will start be part of our brain. thank you for that. Theu«y seem to work on every TF, right?? Thx

Hi Helee,
sorry I missed this question.

I use the fib-r 38% and 50% pullback for entry on H4 and D range mostly.
for example, when you see two H4 HH HL on M15, you can look for a H4 pullback and get an entry between 38% and 50%. But this you need to be good in reading the small M15 candle PA. You must watch and follow the M15 candles closely and do the count 1,2,3 4 [close] i.e. a H1 close. This means you should be watching the H1 candle pattern as the same time while you are on M15 all the time.

There is one example in a post made today. Why enter a BUY at the end of 3 red M15 candles? momentum is down, right?

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,513
  • Feb 1, 2013 5:24am Feb 1, 2013 5:24am
Quoting jordfx
Absolutely no retrace on Monthly since position traders got interested in November. I'm even setting sights on 168.000 EJ now. What a trend.

EJ must overcome regions around 126.50 first and then 129.50 ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,514
  • Feb 1, 2013 5:49am Feb 1, 2013 5:49am
Quoting emmanuel7788
EJ must overcome regions around 126.50 first and then 129.50 ...
Pips in front of a moving train!!!
  • #19,515
  • Feb 1, 2013 6:38am Feb 1, 2013 6:38am
Quoting emmanuel7788
Hi Helee,
sorry I missed this question.

I use the fib-r 38% and 50% pullback for entry on H4 and D range mostly.
for example, when you see two H4 HH HL on M15, you can look for a H4 pullback and get an entry between 38% and 50%. But this you need to be good in reading the small M15 candle PA. You must watch and follow the M15 candles closely and do the count 1,2,3 4 [close] i.e. a H1 close. This means you should be watching the H1 candle pattern as the same time while you are on M15 all the time.

There is one example in a post made today. Why...
Thx Emmanuel7788,.

This strong pull back on EU just killed me .

I still dont have the eye to catch those counts, i have to switch between TF..to see PA.. but I will keep an eye for those retracement areas.

Thx.
  • #19,516
  • Feb 1, 2013 7:11am Feb 1, 2013 7:11am
Quoting Helee
Thx Emmanuel7788,.

This strong pull back on EU just killed me .

I still dont have the eye to catch those counts, i have to switch between TF..to see PA.. but I will keep an eye for those retracement areas.

Thx.

how did that pullback killed you? post a chart please.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,517
  • Feb 1, 2013 7:15am Feb 1, 2013 7:15am
Quoting emmanuel7788
how did that pullback killed you? post a chart please.
I will have to use the mt4 chart, but i am trading on IG, different broker..... mt4 is just for guidance...
give me a second..ill post it...
  • #19,518
  • Feb 1, 2013 7:17am Feb 1, 2013 7:17am
Here is s H4 Fib-r pullback example... for possible Buy entry.
But the time now is high risk since we are facing NFP in few minutes...
and also Day range already hit Prev D fib-r 161%.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Feb H4 Fib pullback 1-2-2013 9-03-15 PM.png Size: 53 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,519
  • Feb 1, 2013 7:23am Feb 1, 2013 7:23am
Quoting emmanuel7788
how did that pullback killed you? post a chart please.
I was convinced that is gonna touch the ADR.. and kill it manually... it end up killing me automatically.

Here it goes
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 130 KB
  • #19,520
  • Feb 1, 2013 7:39am Feb 1, 2013 7:39am
Quoting Helee
I was convinced that is gonna touch the ADR.. and kill it manually... it end up killing me automatically.

Here it goes

you were chasing price... bad mistake.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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