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Trading Made Simple

  • #18,381
  • Apr 29, 2013 12:25am Apr 29, 2013 12:25am
Long EUR/JPY , price found support at 127.500 round number, regular divergence , exited the trade at next big round number 126.000 with +41 pips

Lets make this week a positive week
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I Have Learned to Take Some Losses to Make Profits
  • #18,382
  • Apr 29, 2013 2:16am Apr 29, 2013 2:16am
Quoting emmanuel7788
Big Picture GBPJPY Weekly charts: {image} {image} {image}
Hey emmanuel,

Thanks for the information. It is great to see that. By the way I had a good run short on GJ on last Friday with TMS...47pips

ta
  • #18,383
  • Apr 29, 2013 2:48am Apr 29, 2013 2:48am
Quoting emmanuel7788
Big Picture GBPJPY H1 chart: Here is the H1 chart POMO. More examples which you can use to look for H1 intraday trades next week The TOK_5H range is good to use for looking for trades. Remember to make use of ths short term S&R like Prev D Fib-r levels, Pred D OHLC, Historical S&R and RN... CONFLUENCE of these S&R is very important and PA around the CONFLUENCE will give you a higher probability trade setup. {image}
Thanks for Big Picture planning and explanation , I would definitely study them and try to grasp the amount of information discussed , really opened my eye to look even further at monthly analysis and spot the relation down to hourly chart, so thank you for the time and continuous contribution to help us TRADE WELL

Thank You
I Have Learned to Take Some Losses to Make Profits
  • #18,384
  • Apr 29, 2013 3:29am Apr 29, 2013 3:29am
Quoting boerseun
{quote} Same here. {image} Also Long the AUDUSD, both off 4HR charts. {image}
Hi there boerseun.
Very clean and impressive charts you have.
I am interested in how you overlay the daily candles over 4h-HA candles, also your tdi, as to how you get different line colours
at 68 and 32 levels.
If not too much to ask, could you kindly forward all the indicators in use, so i too can get my charts looking like yours. Or if you have
template.
kind regards,


Steve.
  • #18,385
  • Apr 29, 2013 4:36am Apr 29, 2013 4:36am
Hi Guys,

For those who likes to learn about TMS...

Just be aware of the support/resistance lines when you seeing the signal on H4. Even though the signal is there but we have a good support which should be considered before taking any trade yet.

The price might go back up or break the support line. So there is no signal yet...

hope this helps.
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  • #18,386
  • Apr 29, 2013 4:58am Apr 29, 2013 4:58am
Quoting pawpaw1000
Am long AudChf... Will post a couple of charts later but have to run now ;-)
Here's my chart as promised...

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I have marked in blue the area of consolidation which for me marked the bottom on daily correction down from 9975 at the end of march.

We broke out strongly and formed a nice turn at 9775 but I was looking to go long and so put up the fib which showed nice H4 rejection at the 50% level on friday and again Sunday evening. This has formed a sort of double bottom with a very nice H4 momentum candle and whith the 50 also corresponding with the high of blue box.

TDI gave nice cross and am now looking for 9770 as a target.

Seems like this H1 is already turning higher...
@pawpaw1000 on Twitter
  • #18,387
  • Apr 29, 2013 4:58am Apr 29, 2013 4:58am
Quoting itrade44
{quote} Hi there boerseun. Very clean and impressive charts you have. I am interested in how you overlay the daily candles over 4h-HA candles, also your tdi, as to how you get different line colours at 68 and 32 levels. If not too much to ask, could you kindly forward all the indicators in use, so i too can get my charts looking like yours. Or if you have template. kind regards, Steve.
Hi Steve,

I use the standard MT4 Horizontal Line function and just drag it into the TDI window and the I edit it by changing the line type and colour and in the Parameters tab I enter either 32 or 68.

The other indi you are referrring to is not a Daily overlay. Its the BreakOut_BOX_indicator.mq4. Its a trick I learned from Rick from Pro Trader Network. It just shows the different days' bars together.....it just a visual thing.

Cheers

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File Type: zip BreakOut_BOX_indicator.zip   1 KB | 585 downloads
  • #18,388
  • Apr 29, 2013 6:03am Apr 29, 2013 6:03am
Quoting Phx62
I am noticing in this TMS forum that many traders are not performing a proper Top Down Analysis each week. Furthermore, I notice that names like "Big Boss" and other kinds of arbitrary nomenclature are being used and there is a lot of mis-information being shared. For those of you who really want to learn how to perform a proper Top Down Analysis and get a proper view of the markets, please go the this website: www.protradernetwork.com. This is a free teaching website run by a professional trader...
Thank you so much for posting the link..
  • #18,389
  • Apr 29, 2013 7:11am Apr 29, 2013 7:11am
Short GBPUSD
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@pawpaw1000 on Twitter
  • #18,390
  • Apr 29, 2013 7:21am Apr 29, 2013 7:21am
Yey, finally got some time to post from work.

As you do know, I put SL not at the bottom/top of previous High/Low but just above/high of the setup bar. Anyway, today I recovered last week loss and added some extra pips to that:

NZD/USD H4 (1st pic)
Entry at 6:00 GMT, exit 4 hrs later at +2. Price didn't want to move any further and TDI has leveled out. I exited my whole position. Unluckily, after some time price has skyroketed. Didn't like the fact, but I trust my trading plan that has saved my pips many times before.

AUD/USD H4 (2nd pic)
Entry at 6:00 GMT, exit at 13:10 just shy of round number. I've closed position just 2 pips from the high. It was emotional-like exit. I didn't like PA and was trying to prove myself I did the right decision. But it was wrong one, should have stick to the trading plan. Bitter pips.
Attached Images
Remember I'm a newbie!
  • #18,391
  • Apr 29, 2013 11:54am Apr 29, 2013 11:54am
hey guys any advice appreciated
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After looking at the dcginc, videos of his top down analysis, I took into consideration of his fibonacci zones. There are two clusters, one at the 128.43 and 128.77.(near the 200ema)
TP target was set in mind with those two targets.
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Entry points and TP was considered with daily high and support resistance zones
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Entered after double bottom formed and bullish APB. Tdi confirmed. Took half position out at daily high. Let trade run until price reached fibonacci cluster and 200ema.
  • #18,392
  • Apr 29, 2013 11:57am Apr 29, 2013 11:57am
London P/L:50
New York P/L: -60
Daily total:50

London P/L:500
New York P/L:-60

Aggregate Trades: 122
Aggregate P/L: 440
  • #18,393
  • Apr 29, 2013 12:14pm Apr 29, 2013 12:14pm
Quoting tenmilewalk
hey guys any advice appreciated{image} After looking at the dcginc, videos of his top down analysis, I took into consideration of his fibonacci zones. There are two clusters, one at the 128.43 and 128.77.(near the 200ema) TP target was set in mind with those two targets. {image} Entry points and TP was considered with daily high and support resistance zones {image} Entered after double bottom formed and bullish APB. Tdi confirmed. Took half position out at daily high. Let trade run until price reached fibonacci cluster and 200ema.
One question, if you don't mind why for fobonacci retracement mesurement first bottom was taken, not second??
JacekPreserve Precious Capital
  • #18,394
  • Apr 29, 2013 12:40pm Apr 29, 2013 12:40pm
Quoting Jackub
{quote} One question, if you don't mind why for fobonacci retracement mesurement first bottom was taken, not second??
hello jackub. what is first bottom?
  • #18,395
  • Apr 29, 2013 12:45pm Apr 29, 2013 12:45pm
Quoting tenmilewalk
{quote} hello jackub. what is first bottom?
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question is, why you mesure from first bottom not form second bottom ?
JacekPreserve Precious Capital
  • #18,396
  • Apr 29, 2013 1:20pm Apr 29, 2013 1:20pm
Quoting Jackub
{quote} {image} question is, why you mesure from first bottom not form second bottom ?
Hello Jackub, wouldnt the the fibonacci levels be the same?
  • #18,397
  • Apr 29, 2013 1:26pm Apr 29, 2013 1:26pm
Quoting tenmilewalk
{quote} Hello Jackub, wouldnt the the fibonacci levels be the same?
In this situation diference is not a case, but it is crucial what and from where you take mesure....
Once Emmanuel loaded paper about fibonacci mesurements, its worth to read this, You will find this pdf easy in attachements to this thread
Confluence of fibonacci levels retracements and extention and other factors like S/R lines, BRN, Pivots are making the zone stronger
JacekPreserve Precious Capital
  • #18,398
  • Apr 29, 2013 2:08pm Apr 29, 2013 2:08pm
this is what your fib should look like. high to low

if you are going to measure from 129, you should be on a higher TF
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  • #18,399
  • Apr 29, 2013 2:21pm Apr 29, 2013 2:21pm
Quoting allisonmagic
this is what your fib should look like. high to low if you are going to measure from 129, you should be on a higher TF {image}
Great reply mate ;-)
@pawpaw1000 on Twitter
  • #18,400
  • Apr 29, 2013 2:26pm Apr 29, 2013 2:26pm
Quoting pawpaw1000
{quote} Great reply mate ;-)
thank you, just giving my 2 cents
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