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Trading Price Levels

  • #141
  • Apr 11, 2013 8:42pm Apr 11, 2013 8:42pm
Quoting Lion King
I'm curious how to trade using smaller time frame such as M15,M30 or even H1. My idea is this: As we know EJ (H4) is Sell TP @ 127.58 so we go to smaller timeframe and take only Sell signal using the levels given...I probably consider H1 as medium level and smaller than H1 as mini level. How about that....any comments pls. TQ {image}
hi lion king,

this is the first constructive contibution,thanks!
as i said i have almost no time for trading lower tf's because of my job,im most on construction site,so i trade 4h,but i have traded on m5 and m15 when i had time,i have used only pa pattern such as engulfing,double and tripple tops or bottoms ect., what you try is a good idea
Money is made by sitting, not trading. Jesse L. Livermore
  • #142
  • Apr 11, 2013 9:02pm Apr 11, 2013 9:02pm
my yesterday's stop (ej-130.78) was triggered......
The reason is....the price still looking for the medium tp=130.78
So....my understanding is this.....the price will make one full cycle (until TP triggered) and than will start with another cycle.
On EJ case eventhough major cycle saying that TP is 127.58 but medium cycle (130.78) not completed yet until yesterday.....it was triggered & now medium cycle saying that the TP is 129.98.

Comment pls...
Attached Image (click to enlarge)
Click to Enlarge Name: ej h1.gif Size: 22 KB
  • #143
  • Apr 11, 2013 9:14pm Apr 11, 2013 9:14pm
Quoting Lion King
my yesterday's stop (ej-130.78) was triggered...... The reason is....the price still looking for the medium tp=130.78 So....my understanding is this.....the price will make one full cycle (until TP triggered) and than will start with another cycle. On EJ case eventhough major cycle saying that TP is 127.58 but medium cycle (130.78) not completed yet until yesterday.....it was triggered & now medium cycle saying that the TP is 129.98. Comment pls... {image}
thats why we set sl at next medium level when entering trade after candle close,price can keep going higher to next higher medium level (131.58),so in that case i would have two orders, one market entry after candle close with sl at 130.78 and a pending one at 129.98 with sl at 132.38,in my experience price reverses often on second medium level,so in that case is 131.58 would be the level for additional entry with sl at 132.38 (this is maximum RR),but you can keep scalping the levels of course
Money is made by sitting, not trading. Jesse L. Livermore
  • #144
  • Apr 11, 2013 9:30pm Apr 11, 2013 9:30pm
tq for the prompt reply
  • #145
  • Apr 15, 2013 10:39pm Apr 15, 2013 10:39pm
EurJPY Buy
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4] buy.png Size: 46 KB
  • #146
  • Apr 15, 2013 11:24pm Apr 15, 2013 11:24pm
so far 3win and one loss
presently on this trade now
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4]....png Size: 38 KB
  • #147
  • Apr 15, 2013 11:33pm Apr 15, 2013 11:33pm
I dont think the candle is close yet..
  • #148
  • Apr 16, 2013 12:08am Apr 16, 2013 12:08am
check the H1 chart for EJ
Attached Image (click to enlarge)
Click to Enlarge Name: ej h1.gif Size: 19 KB
  • #149
  • Apr 16, 2013 1:03am Apr 16, 2013 1:03am
Please let me ask this question wen price closes at our price level what do we do
like in my acm gold meta trader price closed @127.58 would it be a buy or a sell
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4]..png Size: 34 KB
  • #150
  • Apr 16, 2013 1:12am Apr 16, 2013 1:12am
for me I rather wait to see what is the next candle doing.....maybe sam have an idea
  • #151
  • Apr 16, 2013 1:14am Apr 16, 2013 1:14am
HOW ABOUT THIS
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,H4]CLOSE.png Size: 36 KB
  • #152
  • Apr 16, 2013 1:22am Apr 16, 2013 1:22am
I still prefer for going short unless the price break the highest level(128.56) of the candle before long bearish candle & than I will close my short & go long.....
  • #153
  • Apr 16, 2013 1:41am Apr 16, 2013 1:41am
how about this gu.....still hold my buy
Attached Image (click to enlarge)
Click to Enlarge Name: gu h4.gif Size: 25 KB
  • #154
  • Apr 16, 2013 1:55am Apr 16, 2013 1:55am
Quoting lion king
i still prefer for going short unless the price break the highest level(128.56) of the candle before long bearish candle & than i will close my short & go long.....
for me i still prefer going long since the overall trend has been bullish
so am infavour for a buy

tnx
  • #155
  • Apr 16, 2013 7:51pm Apr 16, 2013 7:51pm
hi all,
missed all the trades,been busy,just entered short ej @129.18 with sl @129.98,closed below 127.58 and now @second medium level,lets see
Attached Image (click to enlarge)
Click to Enlarge Name: ej.png Size: 25 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #156
  • Apr 16, 2013 7:53pm Apr 16, 2013 7:53pm
Quoting Lion King
I dont think the candle is close yet..
you are right,always wait for candle close
Money is made by sitting, not trading. Jesse L. Livermore
  • #157
  • Apr 16, 2013 7:56pm Apr 16, 2013 7:56pm
Quoting cku
Please let me ask this question wen price closes at our price level what do we do like in my acm gold meta trader price closed @127.58 would it be a buy or a sell {image}
thats very good,i forgot to mention,if price closes exactly at level then trend will continue,that means when price came from below and closed at level then its a buy and vice versa...
Money is made by sitting, not trading. Jesse L. Livermore
  • #158
  • Apr 16, 2013 8:00pm Apr 16, 2013 8:00pm
Quoting cku
HOW ABOUT THIS {image}
you mean 127.57?, in that case price closed 1 pip below your level,thats a sell,but i dont know about levels on other platforms...
Money is made by sitting, not trading. Jesse L. Livermore
  • #159
  • Apr 16, 2013 8:03pm Apr 16, 2013 8:03pm
sam, you ever considered adding trend into consideration? ie. sell levels only during downtrend and buy on up trends
  • #160
  • Apr 16, 2013 8:04pm Apr 16, 2013 8:04pm
Quoting Lion King
how about this gu.....still hold my buy {image}
yes,target 1.5463 and sl 1.5139...
Money is made by sitting, not trading. Jesse L. Livermore
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