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  • #19,341
  • May 16, 2013 7:11am May 16, 2013 7:11am
Quoting Greenb
{quote} i took EJ long. out of it by now with +8 pips. TDI gone flat. me thinks that unemployment claim destroy it

TDI gone flat? .... but this current H4 candle has not close yet.
should this current H4 burst upwards and close higher high, then the TDI will point upwards...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,342
  • Edited 8:02am May 16, 2013 7:34am | Edited 8:02am
Quoting Aj1
{quote} Hello Emmanuel Therefore are you saying that we should trade in the direction of the Weekly Candle. If the previous weeks close is Bearish, we are only looking for short trades. Regards Aj1
Here we are discussing H4 trading and we must not make any sort of general rule when we trade Price Action.
H4 trading mean we use W as the Primary Trend and D as our Intermediate Trend. See my favourite pic below.

The Weekly Trend may be up, but it can be in a retracement, so we see red W candles. Weekly range can be wide, for example, EJ has week range between 320 to 450 pips in a trending week. So we can trade CT for a 4H short swing trade.

We must look at the overall picture of the Weekly chart candles, and must not use just one W candle bias candle as a general rule. The W candle OHLC is important because a Bearish W candle with very long lower wick is not a good sell when the Priamry Trend is Bullish. Therefore I said we must look at the D candles inside that W candle.

Is this clear?
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,343
  • May 16, 2013 7:41am May 16, 2013 7:41am
Quoting Fame of me
{quote} I just took last night this AJ trade, is not a nice entry, i mean, it was more an reaction on the 50% and the D1 trend is down, so yeah. It worked for me. {image}

All JPY pairs are enjoying a bull run but AJ is in consoldiation in recent weeks due to AUD weakness.
Buyt I see you took that trade well coming off the Fib50% and the previous week candle is inverted hammer and D is bearish.

Good pips you made there for a narrowing sideway market.

Good Trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,344
  • May 16, 2013 7:43am May 16, 2013 7:43am
Quoting Jackub
{quote} trying to avoid news in my trading, I can not trade news...

Good reason to stand aside. Preserve capital is always the top priority above all rules.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,345
  • May 16, 2013 7:45am May 16, 2013 7:45am
I made a little document with my trading plan and psychologie. I had never imagined that I would share something like that, it's quite personal. But this thread is different from the others, so much positive energie. I posted something last week and Emmanuel replied very friendly to me that motivated me to share this. Any thougths are welcome !

Happy trading
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File Type: docx Trading plan.docx   20 KB | 826 downloads
Don’t ever let someone tell you that you can’t do something.
  • #19,346
  • May 16, 2013 7:45am May 16, 2013 7:45am
Quoting emmanuel7788
{quote} TDI gone flat? .... but this current H4 candle has not close yet. should this current H4 burst upwards and close higher high, then the TDI will point upwards...
I want to ask you something emmanuel. If you have a valid signal but a major news is coming in 1 hour,what are you going to do? Just like this US session,there are some major news in the US and I just afraid to take the GU and EU setup even though they are valid. I hope you can tell me your opinion about this. Thank you.
  • #19,347
  • May 16, 2013 8:07am May 16, 2013 8:07am
Quoting Armacom
I made a little document with my trading plan and psychologie. I had never imagined that I would share something like that, it's quite personal. But this thread is different from the others, so much positive energie. I posted something last week and Emmanuel replied very friendly to me that motivated me to share this. Any thougths are welcome ! Happy trading {file}
Armacom,

Thank you for postimg and sharing this private document. I will look into later and respond to you.
I did not know that my post reply to you left such a strong impression for a generous act in return. It is indeed a pleasant surprise and I must thank you sincerely.

Trade Well and Be Blessed for your kind sharing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,348
  • May 16, 2013 8:18am May 16, 2013 8:18am
Quoting frenetic
{quote} I want to ask you something emmanuel. If you have a valid signal but a major news is coming in 1 hour,what are you going to do? Just like this US session,there are some major news in the US and I just afraid to take the GU and EU setup even though they are valid. I hope you can tell me your opinion about this. Thank you.

frenetic,

Do not open new trades when it is close to news/data release time. Trading news release requires a lot of experience and most often it is speculative. Therefore, I do no recommend anyoen to open new trades 1 to 2 hours before a new release. Preservation of hard earned trading capital is top priority. There will always be new opportunities after the news events.

I posted GU above to poke some of you to see if anyone has a good technical reason to take that trade setup when NYO. I was sell bias since Tokyo open today, but PA did not push lower and there is a MN S&R below and also a few recent W S&R. I saw a nice H4 Upthrust bar but I did not have a plan for Buy as I see market as pro-USD this week. So I stood aside and enjoy watching . LOL. N ow it went up +80pips.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,349
  • May 16, 2013 8:32am May 16, 2013 8:32am
Hi, i open a sell in EJ h1, i try to explain why (sorry, english is not my mothertounge)

I have print me a channel in H4 and changed then to H1.
Then i figure out a OB, i hope so i did it right, my first time, that i try this way.

After the OB come a cross on the TDI, this i why i took this short.
Attached Image (click to enlarge)
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  • #19,350
  • May 16, 2013 8:37am May 16, 2013 8:37am
Quoting emmanuel7788
{quote} frenetic, Do not open new trades when it is close to news/data release time. Trading news release requires a lot of experience and most often it is speculative. Therefore, I do no recommend anyoen to open new trades 1 to 2 hours before a new release. Preservation of hard earned trading capital is top priority. There will always be new opportunities after the news events. I posted GU above to poke some of you to see if anyone has a good technical reason to take that trade setup when NYO. I was sell bias since Tokyo open today, but PA did...
Thank you for your input emmanuel and I have to agree with you on this matter. Even though a friend of mine told me to consider using fundamental analysis to trade because he had a better results with it. But yeah,I'm still stick with technical analysis and trade what I see on the chart. Anyway,thank you for keeping this thread alive and I wish you all the best.
  • #19,351
  • May 16, 2013 8:55am May 16, 2013 8:55am
Quoting Fame of me
Hi, i open a sell in EJ h1, i try to explain why (sorry, english is not my mothertounge) I have print me a channel in H4 and changed then to H1. Then i figure out a OB, i hope so i did it right, my first time, that i try this way. After the OB come a cross on the TDI, this i why i took this short. {image}

Hi,

That OB is special looks more like a spinning top candle, but it has another name call 'High Wave Bar' due to its exceptional high-low and body length.
That High Wave Bar occur at the High of the US PPI H4 Bar.... the mother bar we talked about earlier today (post#19,330 above).
PA is trapped within this US PPI Bar range and will breakout. ... which side, we don't know yet.

let's watch and see when the breakout will happen.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,352
  • May 16, 2013 9:00am May 16, 2013 9:00am
Quoting frenetic
{quote} Thank you for your input emmanuel and I have to agree with you on this matter. Even though a friend of mine told me to consider using fundamental analysis to trade because he had a better results with it. But yeah,I'm still stick with technical analysis and trade what I see on the chart. Anyway,thank you for keeping this thread alive and I wish you all the best.

your friend is correct.

Do not neglect fundamentals. Most long term traders look more at fundamentals. When we trade longer term like using D chart, news wont bother us that much because our stops are usually much larger and can withstand any sort of knee jerk reaction market has when news release.

Learn to combine the use of both - technicals and fundamentals.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,353
  • May 16, 2013 9:10am May 16, 2013 9:10am
Quoting emmanuel7788
so quiet! ... nobody took any trade yet? what about GU? - TDI bounce, Upthrust bar, etc... PA come off MN S&R, ,,,
Yeap, there're a lot of good reason for CT trade.
Attached Image (click to enlarge)
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  • #19,354
  • May 16, 2013 9:11am May 16, 2013 9:11am
Quoting emmanuel7788
{quote} TDI gone flat? .... but this current H4 candle has not close yet. should this current H4 burst upwards and close higher high, then the TDI will point upwards...
oh i've closed it at my 6 am which is the new candle for me which is about 3 hours ago
Daniel
  • #19,355
  • May 16, 2013 9:17am May 16, 2013 9:17am
Miss this TP... Anyway, not bad for the day.

Trade well,
Attached Image (click to enlarge)
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  • #19,356
  • May 16, 2013 10:16am May 16, 2013 10:16am
Just an observation. No, I haven't read this entire thread, but it looks to me like highlighting the 50-line on the TDI indicator would give you an idea about which trades to take. When price is at or above the TDI 50-line, look for longs and the opposite for short trades.
  • #19,357
  • May 16, 2013 10:47am May 16, 2013 10:47am
Quoting emmanuel7788
{quote} your friend is correct. Do not neglect fundamentals. Most long term traders look more at fundamentals. When we trade longer term like using D chart, news wont bother us that much because our stops are usually much larger and can withstand any sort of knee jerk reaction market has when news release. Learn to combine the use of both - technicals and fundamentals.
And now you have said it too. Maybe I should learn to trade with fundamentals. To me those fundamentals analysis are somehow really hard to understand. Yes,fundamentals are important I have no intention to deny that because that is a factor to drive the market. But as I am now,may be I should stay out of the market when there is a major event happen and take a valid signal after that event. That's a good plan don't you think ?

Anyway,thank you for your time emmanuel. Really appreciate that
  • #19,358
  • May 16, 2013 12:49pm May 16, 2013 12:49pm
Good post and document!

You are on right track...or so I hope cause Im doing things very similair!
Away from short timeframes..4h and higher for me!
Simple rules, easy to follow:
Day/week direction
Moving from Support/resistance with TDI cross
Tok-5h breakout with TDI cross

Im trying to make things very simple..looking at less is better for me at moment.
Sometimes i miss things Emmannuel mentions but we have to remember he's more experienced and we'll get there.

Enjoy the journey! This is a great place to be

Quoting Armacom
I made a little document with my trading plan and psychologie. I had never imagined that I would share something like that, it's quite personal. But this thread is different from the others, so much positive energie. I posted something last week and Emmanuel replied very friendly to me that motivated me to share this. Any thougths are welcome ! Happy trading {file}
  • #19,359
  • May 16, 2013 1:02pm May 16, 2013 1:02pm
Update from my AUDUSD trade today. Went short at 0,9860. TP1 half at 0,9819 + 37, rest SL to 0,9844. At the news USD was stopped out at +8. Reentered short at the 61.8 of the down swing , at 0,860. TP 1/2 position at 0,834 = + 26 pips. Stop loss to 0,9854. Rest is stil running at +47 now. One hour until next H4 candle. Then I will decide to close another half or let it run.
Attached Image (click to enlarge)
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  • #19,360
  • May 16, 2013 1:24pm May 16, 2013 1:24pm
I am a newbie to the system.

Can someone let me know from the attached graph if my settings are right.

Regards,
Mukesh
Attached Image (click to enlarge)
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