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  • #10,241
  • Feb 13, 2013 4:20am Feb 13, 2013 4:20am
Quoting tonny47
hey dee, when you said entry at the 61.8%, do you mean at the low of the candle which touched 61.8 right?

thanks
No. I entered at the 61.8% which was also the BRN 1.34500. I entered after the second candle tried to go up but failed creating a double top on the 15 min chart. The attached chart shows all the detail.
Attached Image (click to enlarge)
Click to Enlarge Name: 5 min 123 +35.png Size: 38 KB
Cut your Losers short and let your Winners run.
  • #10,242
  • Feb 13, 2013 4:40am Feb 13, 2013 4:40am
Quoting Opemipo
The main components of d sys are d pullback candle n d TDI. If a trader can master these he is done.

You are right. People like to complicate things, just look at me. It is so difficult to switch off all the years of learning, but if I could I would actually be a better trader.
Cut your Losers short and let your Winners run.
  • #10,243
  • Feb 13, 2013 4:59am Feb 13, 2013 4:59am
Quoting dee50
No. I entered at the 61.8% which was also the BRN 1.34500. I entered after the second candle tried to go up but failed creating a double top on the 15 min chart. The attached chart shows all the detail.
but as for your chart the candle you entered on didnt close so how could you know its not going to break higher ?
  • #10,244
  • Feb 13, 2013 5:02am Feb 13, 2013 5:02am
Quoting dee50

You are right. People like to complicate things, just look at me. It is so difficult to switch off all the years of learning, but if I could I would actually be a better trader.
Hi dee

Just had to chuck this in. Mrs V is kicking my butt performance wise. Whilst we still use the bits and pieces that I have picked up over the years (that we can both relate to/see/act on) we have become OBSESSIVE about trend/flow and counter trend rules. Seeing the 1hr flow turn properly over multiple candles for us to consider CT trades.

The simplicity of that is stunning.
  • #10,245
  • Feb 13, 2013 5:02am Feb 13, 2013 5:02am
anybody took the same trade?

took 66 pips on this eurjpy bounce of ema 200
Attached Image (click to enlarge)
Click to Enlarge Name: 13 feb eurjpy.gif Size: 34 KB
  • #10,246
  • Feb 13, 2013 5:14am Feb 13, 2013 5:14am
Quoting tonny47
but as for your chart the candle you entered on didnt close so how could you know its not going to break higher ?
Probabilities, from lots of back and forward testing. Confluence 61.8% & BRN. Stochs at OB. TDI Hooked just under 68 level and at MBL which is the centre line of the Volatility Bands ( Bollingers). If I was wrong it would have cost me 7 pips. Acceptable to me.
Cut your Losers short and let your Winners run.
  • #10,247
  • Feb 13, 2013 5:17am Feb 13, 2013 5:17am
Quoting dee50
Probabilities, from lots of back and forward testing. Confluence 61.8% & BRN. Stochs at OB. TDI Hooked just under 68 level and at MBL which is the centre line of the Volatility Bands ( Bollingers). If I was wrong it would have cost me 7 pips. Acceptable to me.
cheers for explanation
  • #10,248
  • Feb 13, 2013 5:19am Feb 13, 2013 5:19am
tonny47,

Spotted the opportunity but decided to take EUR/USD trade instead.

Regarding EUR/JPY, I do not go long when red is below yellow (unless it is NYO). What made you confident that it would work? Last two lows were LL, and last high was LH? As I scanned all Phx62 trades, PA at EMA200 provides most the reliable patterns (rememmber I'm a newbie).

My EUR/USD trade is here:
http://img594.imageshack.us/img594/9248/eu20130213.jpg

I was also unsure, whether it will work. Between my TP (1:1 r:r, but as a n00b I am unable to hold it longer) and entry price was yesterday's high.

Trade was taken due to close above EMA200 and breakout of Asian range.


Cheers,
M.
Remember I'm a newbie!
  • #10,249
  • Feb 13, 2013 5:31am Feb 13, 2013 5:31am
Quoting mierzyk
tonny47,

Spotted the opportunity but decided to take EUR/USD trade instead.

Regarding EUR/JPY, I do not go long when red is below yellow (unless it is NYO). What made you confident that it would work? Last two lows were LL, and last high was LH? As I scanned all Phx62 trades, PA at EMA200 provides most the reliable patterns (rememmber I'm a newbie).

My EUR/USD trade is here:
http://img594.imageshack.us/img594/9248/eu20130213.jpg

I was also unsure, whether it will work. Between my TP (1:1 r:r, but as a n00b I am unable...

hi Mierzyk, i took eurjpy because there was nice rejection of ema 200. what i didnt like about eurusd was very close imminent resistance i.e. the previous swing high was only about 10 pips from where the entry price would be. on the other hand eurjpy distance from its latest swing high was about 50 pips and i moved my stops to break even once i was up 30 pips. another reason was that i didnt see any clear direction on eurusd since the price seemed to me that it didnt know which way to go (remained close to ema 200 for a good while). not saying it would be a bad trade of course, just my preference.
  • #10,250
  • Feb 13, 2013 5:37am Feb 13, 2013 5:37am
Good points. Thankyou.
Remember I'm a newbie!
  • #10,251
  • Feb 13, 2013 5:38am Feb 13, 2013 5:38am
Quoting mierzyk
tonny47,

Spotted the opportunity but decided to take EUR/USD trade instead.

Regarding EUR/JPY, I do not go long when red is below yellow (unless it is NYO). What made you confident that it would work? Last two lows were LL, and last high was LH? As I scanned all Phx62 trades, PA at EMA200 provides most the reliable patterns (rememmber I'm a newbie).

My EUR/USD trade is here:
http://img594.imageshack.us/img594/9248/eu20130213.jpg

I was also unsure, whether it will work. Between my TP (1:1 r:r, but as a n00b I am unable to hold...

Hello. I took the same trade as you did but entered much later..after PA broke the LO high...still in +15 pips now with SL=BE hopping it brake the RN
  • #10,252
  • Feb 13, 2013 5:47am Feb 13, 2013 5:47am
forgot to add about the LL LH you mentioned. that worried me a bit but if you look at the bigger picture the point where eurjpy bounced off ema 200 could be a higher low of a bigger wave as on the picture. just the way i thought about that.



Quoting mierzyk
tonny47,

Spotted the opportunity but decided to take EUR/USD trade instead.

Regarding EUR/JPY, I do not go long when red is below yellow (unless it is NYO). What made you confident that it would work? Last two lows were LL, and last high was LH? As I scanned all Phx62 trades, PA at EMA200 provides most the reliable patterns (rememmber I'm a newbie).

My EUR/USD trade is here:
http://img594.imageshack.us/img594/9248/eu20130213.jpg

I was also unsure, whether it will work. Between my TP (1:1 r:r, but as a n00b I am unable...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd trend.png Size: 58 KB
  • #10,253
  • Feb 13, 2013 5:49am Feb 13, 2013 5:49am


Quoting gigicualex
Hello. I took the same trade as you did but entered much later..after PA broke the LO high...still in +15 pips now with SL=BE hopping it brake the RN
  • #10,254
  • Feb 13, 2013 6:56am Feb 13, 2013 6:56am
Quoting Opemipo
The main components of d sys are d pullback candle n d TDI. If a trader can master these he is done.
Can you explain more for a newbie what's meant by The main components of d sys are d pullback candle n d TDI or any directioon that I can get information from?
I Have Learned to Take Some Losses to Make Profits
  • #10,255
  • Feb 13, 2013 7:04am Feb 13, 2013 7:04am
Quoting tonny47
anybody took the same trade?

took 66 pips on this eurjpy bounce of ema 200
Yes I took that trade, EUR/JPY moves very good these days much better than EUR/USD , I took the trade when Price Action reached 50EMA, I view EMA 200 as a dynamic support today, got +50 pips which was my first 50 pips since I started trading Forex 4 months ago

Back testing and learning about Price Action and how price move by studying old chart I think would improve the way I trade
I Have Learned to Take Some Losses to Make Profits
  • #10,256
  • Feb 13, 2013 7:11am Feb 13, 2013 7:11am
Quoting TheScorpS
Can you explain more for a newbie what's meant by The main components of d(the) sys are d(the) pullback candle n(and) d(the) TDI
Translation in red
Cut your Losers short and let your Winners run.
  • #10,257
  • Feb 13, 2013 7:36am Feb 13, 2013 7:36am
Quoting TheScorpS
Yes I took that trade, EUR/JPY moves very good these days much better than EUR/USD , I took the trade when Price Action reached 50EMA, I view EMA 200 as a dynamic support today, got +50 pips which was my first 50 pips since I started trading Forex 4 months ago

Back testing and learning about Price Action and how price move by studying old chart I think would improve the way I trade
nice!
yes, jpy pairs are moving a lot because japan is trying to increase inflation and it seems to be working well
  • #10,258
  • Feb 13, 2013 7:42am Feb 13, 2013 7:42am
Quoting dee50
Translation in red
you just killed me!

  • #10,259
  • Feb 13, 2013 9:49am Feb 13, 2013 9:49am
took two short trades on eurjpy. the first one of them i entered like a minute before the candle closed. went in my favour 40 pips then BE
reentered as i didnt see any aggressive move up at about the same place as i was stopped out and took 52 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 13 feb eurjpy trade 2 and 3.gif Size: 16 KB
  • #10,260
  • Feb 13, 2013 10:57am Feb 13, 2013 10:57am
Quoting tonny47
took two short trades on eurjpy. the first one of them i entered like a minute before the candle closed. went in my favour 40 pips then BE
reentered as I didn't see any aggressive move up at about the same place as i was stopped out and took 52 pips
I entered the same trade but my entry was straight after the pullback candle, price stalled and went against me almost - 40 pips, stayed into the trade and then after couple of hours it started to go into my favour and I exited with + 20 pips in a good and strong down trend, I could have stayed a bit longer and get away with 40 pips but the draw-down was huge and I just wanted to get what I already have.

I wanted it to add chart and notes, but my eyes are killing me cause of light sensitivity , I just cant stare at any source of light for a long time , sorry

So a good trading day on my side total +70 pips without a loss

Dee, thanks for explanation, I am learning Forex and English Language , so all and all an excellent experience cause of you guys, THANKS
I Have Learned to Take Some Losses to Make Profits
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