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Trading Made Simple

  • #19,521
  • May 21, 2013 2:10am May 21, 2013 2:10am
Quoting emmanuel7788
{quote} {quote} Hi Hernan, sorry I am very busy and do not have time to answer each question in detail. there is no generic answer to questions because as there is some discretion how Big E trade. I have my own discretion each time I look at my charts. The better way is to post charts and highlight questions on the charts. most questions were either been asked and answered by Big E for example in post 769 . http://www.forexfactory.com/showthre...57#post4583257 TMS only uses the TDI PL Green TSL Red lines. However, other experienced...
Hi Emmanuel7788,

Can I know which post in this thread u share before for the channelling technique and sideway market type?

I would like to know more about that. Thanks buddy.

Regards,
Prominent88
  • #19,522
  • Edited 3:16am May 21, 2013 2:49am | Edited 3:16am
loads of info today. time to digest

too stubborn to accept that I need to know all of this to do H1. Need to look at bigger picture
  • #19,523
  • May 21, 2013 3:34am May 21, 2013 3:34am
Hi bythepound,

Please just clarify one thing for me. In post 18,758 you said you use the Weekly APB as a trend indicator.
Quoting bythepound
Traders - PLEASE do yourself a favor and take emmanuel's advice on this. It totally changed my trading. I only trade the 4HR using the Weekly APB as a trend indicator. For example, once I see a bearish candle close and the 2nd candle also opens bearish, I will only look for shorts on my 4 hour chart. This also works well if you are trading a 1 HR using the Daily chart as the trend indicator. I don't use S&R as much because of the subjectivity, unless it is an obvious S&L level. This is just one of the 4HR trades I took...
In post 18,775 you said: "I really mean the color of the candle sticks. ......." Is this like in Japanese candlesticks or are you referring to APB candles?

I just wanna know are you looking at the APB colour or at the Japanese candlestick colour on your HTF chart?

Thanks
  • #19,524
  • May 21, 2013 3:35am May 21, 2013 3:35am
Quoting emmanuel7788
{quote} Hi Armacom, This is a good Big Picture done. You have several historical S&R identified. What I would usually do it to see these historical S&R on my H4 charts and look for PA around CONFLUENCE of these historical S&R with Prev W Fib, OHLC and RN. Two key support are 1.2800 and 1.2670. Also March Close and April Open is something I will look closely at for PA around these levels. I will also look out when Asian session is very narrow range and to trade the breakouts on H1. Trade Well and many pips this week. Regards, EMMANUEL
Clear as always, thank you !
Don’t ever let someone tell you that you can’t do something.
  • #19,525
  • May 21, 2013 3:42am May 21, 2013 3:42am
Where we go?
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  • #19,526
  • May 21, 2013 3:50am May 21, 2013 3:50am
Quoting boerseun
Hi bythepound, Please just clarify one thing for me. In post 18,758 you said you use the Weekly APB as a trend indicator. {quote} In post 18,775 you said: "I really mean the color of the candle sticks. ......." Is this like in Japanese candlesticks or are you referring to APB candles? I just wanna know are you looking at the APB colour or at the Japanese candlestick colour on your HTF chart? Thanks
I think he means APB, but I think it better to 'feel' the trend than to put a number of red or blue candles .. Look at the attached picture. I put orange cercles around 'trends' with 3 bars ... If you follow the 3 bar rule you whould have lost, and a lot of opportunities would be missed I think

Look at cercle number 2, that's the easiest to see. The 3 bar rule would have given you a clear BUY signal, but you FEEL its against the trend don't you ?

Hope it makes sense, happy trading !
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Don’t ever let someone tell you that you can’t do something.
  • #19,527
  • Edited 4:03am May 21, 2013 3:52am | Edited 4:03am
Quoting Pervis
Where we go? {image}
Allmost TP hang in there

EDIT : 2R in your pocket !
Don’t ever let someone tell you that you can’t do something.
  • #19,528
  • May 21, 2013 3:54am May 21, 2013 3:54am
Quoting Prominent88
{quote} Hi Emmanuel7788, Can I know which post in this thread u share before for the channelling technique and sideway market type? I would like to know more about that. Thanks buddy. Regards, Prominent88
Think it's this my friend : http://www.forexfactory.com/showthre...ng#post6645393

Don’t ever let someone tell you that you can’t do something.
  • #19,529
  • May 21, 2013 3:57am May 21, 2013 3:57am
Quoting Aj1
Hello Emm I am somewhat confused. You say that you look at the weekly chart once a week. Could you please explain to me what it is that you are looking for on that Weekly chart. Secondly you say that you look at the Daily chart once a day, again what are we looking for on the Daily. Regards Aj1
You look at the weekly chart to make you big picture planning. Spot near support and resistance and observe the latest price action to evaluatt if you weekly/daily bias will be bullish or bearish ... read this http://www.forexfactory.com/showthre...ng#post6658417 and about Price Action ... Emmanuel shared some websites about PA in some earlier posts
Don’t ever let someone tell you that you can’t do something.
  • #19,530
  • May 21, 2013 4:20am May 21, 2013 4:20am
Profitable, +60 pips, but bad entry because I did not write down the major GBP news at 1830 my time.
Trade entered just after 1800.
Usually write down the news events, so now I have added extra section to trade sheet to record major news events prior to entering trades.

Thanks to all those who contribute to the forum. am learning lots and trading has improved.
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  • #19,531
  • May 21, 2013 4:41am May 21, 2013 4:41am
Quoting Armacom
{quote} Allmost TP hang in there EDIT : 2R in your pocket !
Yeap, 70 in one hour.
Just share my next opinion, let see what happen.
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  • #19,532
  • May 21, 2013 4:41am May 21, 2013 4:41am
GU H4 also has bearish hidden divergence from prev week fib 50%.
+70p at the moment,price has tested previos week low.
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  • #19,533
  • May 21, 2013 5:22am May 21, 2013 5:22am
Hello, are you in a mirc live trading channel ?
  • #19,534
  • May 21, 2013 6:22am May 21, 2013 6:22am
Hey Traders, take a look at this AU 4H chart. Do you think it's a set up for Short, or wait for breakout of 0.97500?
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  • #19,535
  • May 21, 2013 6:46am May 21, 2013 6:46am
Quoting gegeorge
Hey Traders, take a look at this AU 4H chart. Do you think it's a set up for Short, or wait for breakout of 0.97500? {image}

Looks good, with BRN 0.9800 anfd WPv 0.9820 as resistance.
But I would go down to H1 and find a good entry point.
0.9715 is support below, enough room to grab some pips.
This week will be volatile with many news and increase liquidity.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,536
  • May 21, 2013 6:57am May 21, 2013 6:57am
Quoting Prominent88
{quote} Hi Emmanuel7788, Can I know which post in this thread u share before for the channelling technique and sideway market type? I would like to know more about that. Thanks buddy. Regards, Prominent88

Prominent88,

I dont have time to look back and give you all the posts on channelling. Read post made in April and May.

Or you can use the forum search function to lookup key words - channeling, channelling, channel, etc. also market type..

will show up all the posts.

regards
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,537
  • May 21, 2013 7:04am May 21, 2013 7:04am
Quoting Aj1
Hello Emm I am somewhat confused. You say that you look at the weekly chart once a week. Could you please explain to me what it is that you are looking for on that Weekly chart. Secondly you say that you look at the Daily chart once a day, again what are we looking for on the Daily. Regards Aj1
we trade 4H swing trades, so we use Weekly as the Primary Trend, Daily as the Intermediate Trend.

what is most important is these 10 things below which we must know and learn to use to help us determine and look for A+++ trade setups.

PriceAction
Trend
Multi-Time Frame
Momentum
Support andResistance
Continuation
Volatility
Market Strength
Range
Timing

why is weekly so important? see this GU chart. We look for CONTINUATION this week... get that?

Regards,
EMMANUEL

Attached Image (click to enlarge)
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Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,538
  • May 21, 2013 7:06am May 21, 2013 7:06am
Quoting emmanuel7788
{quote} Looks good, with BRN 0.9800 anfd WPv 0.9820 as resistance. But I would go down to H1 and find a good entry point. 0.9715 is support below, enough room to grab some pips. This week will be volatile with many news and increase liquidity.

I usually use 10EMA on H1 as entry point, when PA pulls back to that. What do you think?
  • #19,539
  • May 21, 2013 7:07am May 21, 2013 7:07am
Quoting Armacom
{quote} You look at the weekly chart to make you big picture planning. Spot near support and resistance and observe the latest price action to evaluatt if you weekly/daily bias will be bullish or bearish ... read this http://www.forexfactory.com/showthre...ng#post6658417 and about Price Action ... Emmanuel shared some websites about PA in some earlier posts

Armacom,

You are a great help here in this thread. Very much appreciated.

Thank you.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,540
  • May 21, 2013 7:12am May 21, 2013 7:12am
Quoting gegeorge
{quote} I usually use 10EMA on H1 as entry point, when PA pulls back to that. What do you think?

10EMA is also same as 5 SMA (smooth moving average set to median price i.e. HL/2)
this is what Dean Malone uses to creates his Price Action Channel using 5SMA set to High and Low.

It works well, so use that consistently in all timeframes.

But when you want to trade H1, Price Action must take precendence over any MA.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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