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Trading Made Simple for Day Charts

  • #1,341
  • Mar 15, 2013 10:57pm Mar 15, 2013 10:57pm
Here's an H4 trade from this week.

H4 colour change with a TDI cross.

PA confirms on next candle for 75 pips.

trade closed with a TS of 30pips.
Attached Image (click to enlarge)
Click to Enlarge Name: eur jpy h4 trade 3-12-2013.gif Size: 31 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,342
  • Mar 15, 2013 11:50pm Mar 15, 2013 11:50pm
Quoting Britpip7
Mine is the TMS Watchdog version posted here on 12/11/2011 and I have always had the bands visible.

If you go into the Indicator settings for TDI, lines 1 and 3 are the upper and lower bands.

If you go to Dean Malone's website, one of the trade signals he teaches is breaks of the bands. Buy when the upper band is broken on an up trend and sell when the lower band is broken on a down trend. Well, that's the simple version - more detail can be found by watching his training videos.
Thanks pip.I watched a ton of his videos funny i missed that one.I watch a bunch of nial fullers videos also.I think one day im gonna go to pure price action.
  • #1,343
  • Mar 16, 2013 12:44pm Mar 16, 2013 12:44pm
Quoting kingclarence
Thanks pip.I watched a ton of his videos funny i missed that one.I watch a bunch of nial fullers videos also.I think one day im gonna go to pure price action.
Also on the folks to watch list are Rick (dgcinc) on pro traders network and Jason Stapleton - both are PA / pattern traders.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,344
  • Mar 16, 2013 12:50pm Mar 16, 2013 12:50pm
eu is developing a channel following its down trend.

H4 is showing a pullback and is falling back off of the 100EMA

Day has move away from what is developing into a strong Demand Zone and also shows a pullback below the 200EMA.

Current channel is around 200pips, so this may be worth watching for signals on H4 for entries.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu day 3-16-2013.gif Size: 40 KB
Click to Enlarge Name: eu h4 3-16-2013.gif Size: 44 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,345
  • Mar 16, 2013 12:54pm Mar 16, 2013 12:54pm
Looks like a couple of possibilities ahead for GU depending on whether it'll break out from its new range.

Also on the H4, interesting to watch the PA with the TDI. For those struggling to see the signals on H4 - an APD colour change will either coincide with a TDI cross, or will be followed by a TDI cross on the next candle, if the PA continues. Also, look for the Fractal breaks as these give another clue that a recent minor S/R level has been broken.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu possible pa v1 for next week.gif Size: 30 KB
Click to Enlarge Name: gu possible pa v2 for next week.gif Size: 30 KB
Click to Enlarge Name: gu h4 tdi and fractals.gif Size: 38 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,346
  • Mar 16, 2013 1:02pm Mar 16, 2013 1:02pm
USD CHF

After my stopped out trade this week, the move lower is back on after a double top (almost) formation and then TDI showing a bearish divergence of Day and H4
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd chf day 3-16-2013.gif Size: 40 KB
Click to Enlarge Name: usd chf h4 3-16-2013.gif Size: 38 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,347
  • Mar 16, 2013 1:09pm Mar 16, 2013 1:09pm
GBP AUD

This is showing a stalled reversal pattern on the day which is confirmed on the H4 which is showing that the 50EMA is currently acting as a dynamic resistance. H4 APB colour change and TDI are in place.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp aud day 3-16-2013.gif Size: 36 KB
Click to Enlarge Name: gbp aud h4 3-16-2013.gif Size: 37 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,348
  • Mar 16, 2013 1:17pm Mar 16, 2013 1:17pm
AUD CHF

Weekly chart is using the 200EMA as support with the day chart showing a huge pullback from the Supply Zone which is now showing APB colour change with a TDI cross in process - to be confirmed with PA on Monday.

H4 is a bit more confusing as it may use the 50EMA for a bounce. I am looking for an entry signal off of H4 if it breaks the previous candle low
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud chf week 3-16-2013.gif Size: 36 KB
Click to Enlarge Name: aud chf day 3-16-2013.gif Size: 40 KB
Click to Enlarge Name: aud chf h4 3-16-2013.gif Size: 35 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,349
  • Mar 16, 2013 1:23pm Mar 16, 2013 1:23pm
And finally - AUD NZD

Not one that I trade much, but the day is showing a good move off of the Supply Zone which if PA continues south will give an APB colour change and a TDI cross on Monday.

Watch for entries off of H4 if PA crosses and closes below the 21EMA
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud nzd day 3-16-2013.gif Size: 38 KB
Click to Enlarge Name: aud chf h4 3-16-2013.gif Size: 35 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,350
  • Mar 16, 2013 4:45pm Mar 16, 2013 4:45pm
Quoting Britpip7
eu is developing a channel following its down trend.

H4 is showing a pullback and is falling back off of the 100EMA

Day has move away from what is developing into a strong Demand Zone and also shows a pullback below the 200EMA.

Current channel is around 200pips, so this may be worth watching for signals on H4 for entries.
Hello My Chart Hr 4 clearly shown Sell at 1.3089 TP at 1.2937. Is it ok according to you? Achievable on sunday evening? asian session?
Attached Image (click to enlarge)
Click to Enlarge Name: pictures.gif Size: 26 KB
  • #1,351
  • Mar 16, 2013 4:51pm Mar 16, 2013 4:51pm
Quoting behman8850
Hello My Chart Hr 4 clearly shown Sell at 1.3089 TP at 1.2937. Is it ok according to you? Achievable on sunday evening? asian session?
Wait until the gap from opening has determined whether is is going to continue - I do not trade on a Sunday/Monday candle unless there is strong PA action to support the move.

The Asian session on Monday is not known for its PA strength, so this can be quickly reversed on the London Open.

By the looks of the news calendar, no major news events on EUR through Monday, so PA may well drift sideways.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,352
  • Mar 16, 2013 4:52pm Mar 16, 2013 4:52pm
Quoting Britpip7
USD CHF

After my stopped out trade this week, the move lower is back on after a double top (almost) formation and then TDI showing a bearish divergence of Day and H4
usd/chf weekly is a big Outside bearish candle! But on Hr 4 it recommends long from 0.9364 to TP 0.9600!
Attached Image (click to enlarge)
Click to Enlarge Name: pictures.gif Size: 24 KB
  • #1,353
  • Mar 16, 2013 4:54pm Mar 16, 2013 4:54pm
Quoting Britpip7
Wait until the gap from opening has determined whether is is going to continue - I do not trade on a Sunday/Monday candle unless there is strong PA action to support the move.

The Asian session on Monday is not known for its PA strength, so this can be quickly reversed on the London Open.

By the looks of the news calendar, no major news events on EUR through Monday, so PA may well drift sideways.
thank you.
  • #1,354
  • Mar 16, 2013 4:55pm Mar 16, 2013 4:55pm
Quoting behman8850
usd/chf weekly is a big Outside bearish candle! But on Hr 4 it recommends long from 0.9364 to TP 0.9600!
here again.
Attached Image (click to enlarge)
Click to Enlarge Name: pictures.gif Size: 25 KB
  • #1,355
  • Mar 16, 2013 5:27pm Mar 16, 2013 5:27pm
Quoting behman8850
here again.
There is a strong case for this price level to become a sticking point, so usual cautions apply - let PA tell you where it is going
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd chf s r levels h4 3-16-2013.gif Size: 56 KB
Click to Enlarge Name: usd chf s r levels 3-16-2013.gif Size: 51 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,356
  • Mar 17, 2013 5:14pm Mar 17, 2013 5:14pm
As they say on the London Underground "Mind the Gap"

Very tempting to play on the eur/jpy with a 200+pip gap, but I think I will restrain myself.
Attached Image (click to enlarge)
Click to Enlarge Name: eur jpy m15 3-17-2013.gif Size: 26 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,357
  • Mar 17, 2013 5:34pm Mar 17, 2013 5:34pm
Quoting Britpip7
As they say on the London Underground "Mind the Gap"

Very tempting to play on the eur/jpy with a 200+pip gap, but I think I will restrain myself.
This makes a very good case for not keeping trades open over the weekend, unless you are up over 100pips and all your candle patterns are telling you to stay in on Friday.

This also shows how important it is to have your trade management plan defined and in place.

Not sure how the brokers will honour SL settings when the price gaps like this - I have never been in a trade that suffered from this.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,358
  • Mar 17, 2013 11:27pm Mar 17, 2013 11:27pm
The gaps that were created after the Euro Zone / Cypus bail out agreement is going to change all of the previous forecasts and chart analysis over the weeken.

Just pause and re-asses how the moves are shaping up for the week. the usual signals apply with APB colour changes and TDI - may be worth dropping down to H4 to see the moves Monday and Tuesday, especially with Monday being a quiet news day.

Happy pip hunting.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,359
  • Mar 18, 2013 2:47pm Mar 18, 2013 2:47pm
Quoting Britpip7
Here's an H4 trade from this week.

H4 colour change with a TDI cross.

PA confirms on next candle for 75 pips.

trade closed with a TS of 30pips.
I've just noticed your charts don't have the 5 ema any more yet p1 still lists it as an indicator. What's the fourth one?
  • #1,360
  • Mar 18, 2013 4:08pm Mar 18, 2013 4:08pm
Quoting Buttonjock
I've just noticed your charts don't have the 5 ema any more yet p1 still lists it as an indicator. What's the fourth one?
The 5ema was only there for decoration really - not used for entry decisions. I'll update post # 1

Currently running with the following EMAs

21 / 50 / 100 / 200

all are typical hlc/3
"To live with Passion, it takes Courage and Grace to survive"
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