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Trading Made Simple

  • #19,441
  • May 18, 2013 7:53am May 18, 2013 7:53am
Next Week 21 - 20 to 24 May is heavy week with several high impcat news and data release.
With several cantral banks making policy statements, expect very volatile market.

JPY will be in play, so is CHF ....
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,442
  • May 18, 2013 8:00am May 18, 2013 8:00am
feeling very sad coz just one week back only i found this thread (I am a newbie). and just now i come to know that the originator of this thread is no more. [quote=emmanuel7788;6688273]{quote} eelfranz aka Big E passed away last year.
  • #19,443
  • May 18, 2013 8:19am May 18, 2013 8:19am
Quoting Armacom
I made my Big Picture planning for EUR/USD for next week. Any comments are welcome {file}

Hey Armacom, thanks for sharing this. I am thinking the same thing, though not so eloquently as you put it. I also think that the same scenario apply for GPBUSD, what do you think?

Also what is your oppinion about JPY pairs?
  • #19,444
  • May 18, 2013 9:06am May 18, 2013 9:06am
Hey traders, I did some back research on USDCHF and found out a very similar pattern around 0.97600 - 0.98600 level on 2012.07.06 - 2012.07.20, the price was in range between those two levels. Do you think that we are going to face a similar pattern. Don't they say that price returns to where it has been before?

I also checked on AUDUSD and found out that the price bounced on this levels four times in the recent past.

Any comments?
  • #19,445
  • May 18, 2013 9:29am May 18, 2013 9:29am
Quoting gegeorge
Hey traders, I did some back research on USDCHF and found out a very similar pattern around 0.97600 - 0.98600 level on 2012.07.06 - 2012.07.20, the price was in range between those two levels. Do you think that we are going to face a similar pattern. Don't they say that price returns to where it has been before? I also checked on AUDUSD and found out that the price bounced on this levels four times in the recent past. Any comments?
usdchf possible scenarios

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JacekPreserve Precious Capital
  • #19,446
  • May 18, 2013 9:46am May 18, 2013 9:46am
Quoting gegeorge
Hey traders, I did some back research on USDCHF and found out a very similar pattern around 0.97600 - 0.98600 level on 2012.07.06 - 2012.07.20, the price was in range between those two levels. Do you think that we are going to face a similar pattern. Don't they say that price returns to where it has been before? I also checked on AUDUSD and found out that the price bounced on this levels four times in the recent past. Any comments?

AU possible scenarios...
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JacekPreserve Precious Capital
  • #19,447
  • May 18, 2013 10:58am May 18, 2013 10:58am
Quoting gegeorge
{quote} Hey Armacom, thanks for sharing this. I am thinking the same thing, though not so eloquently as you put it. I also think that the same scenario apply for GPBUSD, what do you think? Also what is your oppinion about JPY pairs?
Yes seems to me that GBP/USD would be similar to EUR/USD, candles on monthly and weekly seem allmost the same ... 1,4900ish to the downside seems a nice downtarget, a lot of monthly and weekly resistance to the upside so I have a hard time putting an upside target

Didn't have the time to do my BP planning for the other pairs, will give my newbie opinion when done

Have a nice weekend !

Ps. Would be nice if you could give your opinion Emmanuel, I know we ask a lot of you but maybe that's the burden of being a pro ?
Don’t ever let someone tell you that you can’t do something.
  • #19,448
  • May 18, 2013 11:22am May 18, 2013 11:22am
Quoting Jackub
{quote} usdchf possible scenarios {image}
Jacob, can I ask you how to found those S&R lines ?

I am rather bullish for USD/CHF but then again big news week ahead ...
Don’t ever let someone tell you that you can’t do something.
  • #19,449
  • May 18, 2013 11:36am May 18, 2013 11:36am
Quoting Armacom
{quote} Jacob, can I ask you how to found those S&R lines ? I am rather bullish for USD/CHF but then again big news week ahead ...
For this kind "fast" looks for charts I am using simplified method.....

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfweekly.png Size: 48 KB




JacekPreserve Precious Capital
  • #19,450
  • May 18, 2013 12:04pm May 18, 2013 12:04pm
Ok thanks a lot Jacob !
Don’t ever let someone tell you that you can’t do something.
  • #19,451
  • Edited 10:43pm May 18, 2013 10:31pm | Edited 10:43pm
Quoting Prominent88
{quote} Hi Emmanuel, May I ask your opinion regarding why we need to look at Fib50% or Fib127% in the chart? Is it this will give any hints for our entry or exit decision? Besides that, what is inverted hammer and sideway market? Sorry for asking so many basic questions because I really interested to know about these. Appreciate for any advice, Prominent88
Prominent88,

I use Previous Week Fibs and to look for CONFLUENCE of historical Support and Resistance, BRN, RN, OHLC, etc.

All my trade entries based on Price Action at Support and Resistance PASR plus TMS rules.

inverted hammer is just a candlestick pattern

sideway market is what describes the market when it is not trending, it is sideway or ranging. There were severa post made on Market Type, you need to read those posts.

I think you need to spend more time and learn many more basic of trading the forex market. As already mentioned by other members, www.babypips.com school of pipsology is a good place to start and graduate. This will help you with the basic knowledge to trade the spot forex market and also to trade this TMS method. You need to think of and follow a structure in learning to be a trader. There is no university which offer degrees to become traders.


regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,452
  • May 18, 2013 10:34pm May 18, 2013 10:34pm
Quoting Armacom
{quote} Yes seems to me that GBP/USD would be similar to EUR/USD, candles on monthly and weekly seem allmost the same ... 1,4900ish to the downside seems a nice downtarget, a lot of monthly and weekly resistance to the upside so I have a hard time putting an upside target Didn't have the time to do my BP planning for the other pairs, will give my newbie opinion when done Have a nice weekend ! Ps. Would be nice if you could give your opinion Emmanuel, I know we ask a lot of you but maybe that's the burden of being a pro ? ...
Armacom,

I am not a pro but just another trader here sharing some experinence to trade TMS.

I have not started with my Week 21 Big Picture planning / update yet. Will do so with my team around London 1900 hour.

Will post later.

Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,453
  • May 18, 2013 10:48pm May 18, 2013 10:48pm
Hi Prominent,

Below is a good example from the 9/05(might be 8/05 for you)

Hope it helps..will go through my saved charts to find more


1H chart
Blue box is first 5hours since Tokyo open
I look for break of this box confirmed by 4h TDI cross
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 1H Tok5h 9:05 9am.png Size: 35 KB


4H Chart.. Blue boxes is where I see resistance and support.
So I want to trade away from these areas.
I look for price moving away from S/R areas and confirmed by TDI cross

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 4H 9:05 9AM.png Size: 36 KB



Quoting Prominent88
{quote} Hi bigpips, May I know what is Tok-5h breakout with TDI cross? Can show any example? Thanks for your help, Prominent88
  • #19,454
  • Edited May 19, 2013 2:04am May 18, 2013 11:50pm | Edited May 19, 2013 2:04am
Hi Emanuel,

Thanks again for that pdf. And thanks to whoever put this info together!. Some question for you whenever you find the time to answer (or anybody that can help for that matter)

Wait for green to CROSS RED and open your trade at the beginning of the new candle... usually candle 1 or 2. Catch the momentum...
Up or down?


Does it matter if it cross the red up or downwards? or just a cross would suffice?

I love taking short trades off the 68 line or just below and long trades long off the 32 line area... made tons of pips when that opportunity presents itself...

should the green and red line be below the middle line (50) in the TDI chart for longs and vice versa for shorts? He says he loves that but not sure if it is a must. Probably is....


If the green line looks like it's at a 2-4 angle... it's weak. Pass on it.

Not sure about the way to measure, see the angle in the chart.


HA color matters?
I think it does and should be blue for long and red for short, just wanted to confirm.? It does not say so in the pdf (or maybe i am blind!)


ema... shows direction currently... only wanting to enter on candle 1 or two.
I noticed the template comes with MA not EMA...

If I enter a trade lets say and I'm monitoring the trade and its up 50 pips but suddenly it pulls back 10-15 pips I just exit.

I think this is the toughest to understand. If he trusted the system to work overnight, why the rush to exit when it goes against him when awake? just trying to understand....

If the questions are silly I apologise, and feel free to point me to baby pips or tell me if they were answered many times already. I shall search for them.

Cheers

Hernan

EDIT: I added the chart you provided. I was wondering how would you avoid getting long in the losing trade I circled? I have seen many false signals on this chart, but pointed that one only
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  • #19,455
  • May 19, 2013 12:56am May 19, 2013 12:56am
Hey Traders, I did a little historical research and found out when price was trading at same levels and how it was behaving . Also how were the historical S&R on that levels. Hope you find it helpful and I would appreciate any comments.

Do you think that price will behave in similar way now?
Attached File(s)
File Type: docx Past PAs.docx   1.1 MB | 533 downloads
  • #19,456
  • May 19, 2013 5:54am May 19, 2013 5:54am
Hi all,

Thanks for all your good advice. I will take all that advice and use it in my next trades.

Regards,
Prominent88
  • #19,457
  • May 19, 2013 3:02pm May 19, 2013 3:02pm
Hello everyone
Egyptian guy living in Spain send greetings
is a pleasure to learn with you this way so easy and simple I entente to share my charts to correct

INSHAA ALAH (GOD WILLING)
HAVE A NICE WEEK & GREEN PROFIT TO EVERY BODY
HOPE ME TOO

  • #19,458
  • May 19, 2013 3:26pm May 19, 2013 3:26pm
My big picture for EJ this week

The technical part: on monthly TF the price level we have right now is exactly at 50% retrace from the huge bear that drives EJ from 168 to 94.

The fundamental part: "“it’s being said that the correction of the strong yen is largely completed. If the yen keeps on weakening a lot more, it will have a negative impact on peoples’ lives.”" from Japan economic minister.

Also notice the huge spike the moment market open from 131.83 to 130.85

Key level i will be looking at is 132.00 level as that is the 50% retrace; 130.78 level as that is around the lowest point of spike. My opinion says that for bear to start going strong, it will need to go past 130.78, and break through 130.4 resistance level.

For bullish to continue, i will be looking at 132.00 level also. But more important is 132.80 which is the high of last week.

Greenb
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Daniel
  • #19,459
  • May 19, 2013 8:32pm May 19, 2013 8:32pm
Hi all,

Is it u guys take any trade today?

It seem like today is quite danger to take any trade as most of the pairs is near to its S/R level.

How u guys think? Any opinions?

Regards,
Prominent88
  • #19,460
  • May 19, 2013 10:12pm May 19, 2013 10:12pm
Quoting Prominent88
Hi all, Is it u guys take any trade today? It seem like today is quite danger to take any trade as most of the pairs is near to its S/R level. How u guys think? Any opinions? Regards, Prominent88

Do not be so eager to trade today ... it is only Monday. Check FF calendar news and events.
Bank holidays in several European countries, so liquidity may not be that great to move this market.
Be patient and look for A+++ trade setups only.
This week is going to be hot... much hotter than last week.
So it is better to trade with extra caution and pick only the higher probability trade setups.
Take a look at all the weekly candles and you should have some fear to follow that sort of weekly bias.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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