Another simple system - Time-Frame 15

Thanks Jordfx...

Don't you guys condsider news for your trades? because the last two charts here trades are taken just before news and can go the other way easily.

Just a thought from a newbie

with the exception of a 10 pip long at London open, I only had one decent trade which grabbed 50 pips on EJ... I was waiting from 10 AM for this one!

Slappewas, I do not trade around news normaly...
I am trading AU and GJ only, for me was more probable Au will go down then up .... dolar is getting stronger... room for faling was prepared, all day AU was going up, almost 90 pips reaching March 2011 low, resistance tested many times before. Dropped down to previous support also tested many times of Sept 2009 low....
As our teacher always say this is a probability game, I judge pretty high probability of falling AU down, what finnaly happen....

Nice catch... CT, I am always scared of CT trades, but this one worked out very nice indeed... USA News were on your side mate

thanks Jackub, I almost always take trades with the trend however, williams % range showed strong overbought signal on the 1hr timeframe for far too long without a good pop to the upside (from london open to new york open)

Hi, yes I use sometimes wiliams %R and compare this with TDI, to confirm price exhaustion, I put two wiliams %R into same window typical 14 perios and 56 period period with different colour, shows me oversold/overbought zones on two time frames.... but everything it is only indicators... here showed divergency... oops! if Xhale read this, will remind me again that divergency is a BS...

My last AU trade... again

Start scaling

sorry Jackub some thing not really understand ....

Hi Lowweiting,

Will try to answer your questions… in order from left to right…

But first what was my plan… AU was sitting on strong monthly S/R, I presumed dollar is strong and get stronger so aussi has to go down, but this resistance was like wall…, I am playing with trend only for time being, and I am waiting when price retrace , trying to find top/bottom, reaction and take trade with trend.

Q: how do we know price wont bounce off from this 3 S/R .. ?

A: we never know, S/R shows only probability of possible bounce off, so we have to be prepared, I use (jordfx is not acepting this) TDI, Williams%R to check if price in zone of S/R is in overbought/oversold, is momentum decreased/increased, to rise chance find kind of reaction on this level, price action like long wicks in right direction confirm this resistance, sometimes candlestick pattern.. anyway, I make mistakes, how do you get out of mistake is another problem..

lowest marked level broken… one single candle like knife, BIG momentum, it was BIG momentum before this S/R, candle size was 3-4 bigger already then previous candles even before broke this S/R


Q: Enter here but not in the circle..?

A: In this marked zone I placed limit sell order, as I could see on chart this level was already working two times 24.05 and two times 23.05… but my limit order has not been triggered, price bounced off from zone very close to my limit order.. I notice TDI cross, M15 divergency ( omg, again divergency ), and big red candle, thought run began so I jumped in. I was a little emotional reaction.



Hope this explain my trade….

1st trade this week - too much stuff going on...

Late AS, EJ short after 800ema reject, RN breach. (Early) Entry at the pin below 200ema. TP = PPA. +10

This was a long monitoring (patience pays) on my side... Done for today - going to sleep - 2:30 am here.

I was waiting for this, I was watching this pair and I missed this trade ... not a newbie, just greenhorn...

missed EJ short trade earlier.... :-(

Hello everybody!)
My trade on USDJPY today)
118 p.

Hi
Can any of the specialist tell me if that's entry by the rule ?what you think guys

an update:

I've just got stop out...... I think i followed basic rules and it didn't work and it's not the first trade ?
So what was wrong?

1. cross pair.
2. think about the zone you just sold. were they buying or selling at that level ? what were they doing?

HI mate,

I'm not a specialist but there was a demand zone just below your entry...

Peace
dom

I'd like to be honest and I dont know how to answer your questions...
My point is that I sticked to the basic rules and all questions guys you asked is of this rules as far as I'm concerned.I'm willing to learn but so far im on page 85 of this thread as im reading page by page.The time i get to the end it will take ages.
So for now I see this system has changed and it's not enough now to follow this simple basic rules.Am I right?
I need someone to guide me through my mistake because from reading and backtesting it's not that simple

Thank You guys