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  • #20,401
  • Jun 10, 2013 5:19am Jun 10, 2013 5:19am
GU

Thanks for pinpointing these pairs Emmanuel

1 Has got to major resistance on Day Chart.
2 A good long wick
3 -IBC -good setup
4 TDI about to cross over on Day Chart

Once again the Fib levels line up with highs/lows etc very well.

Entry
1.5485 - bottom of IBC and going through 38.2 fib level
SL
1.5685 - above the recent high - bit far perhaps
TP1
1.5402 - 61.8 Fib Level and support from April High
TP2
1.5916 - lines up roughly with a low from April and 100Fib

Go you son of.....
Pull it to pieces please.
Attached Image (click to enlarge)
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  • #20,402
  • Jun 10, 2013 5:24am Jun 10, 2013 5:24am
And the GU charts also!

Just a quick question, were waiting for the break of the IB either above or below?
Attached Image(s) (click to enlarge)
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  • #20,403
  • Jun 10, 2013 5:25am Jun 10, 2013 5:25am
Trying out the phx62 school of trading, thanks to this thread its taken me back to my old ways of trading but with more confidence with the tdi cross On demo only this morning until I get my confidence back of price action first, indicators second, but I wish they had been live.

Both on EJ, both for 50 pips TP. 1st trade taken, daily R1, hourly trendline, the previous hourly candle had failed to close above the wick of the candle before it, then M15 had a doji, with a cross of the tdi so went in. Zero drawdown (only the spread) set my tp at 50 pips because of Fridays high just below that.

2nd trade, the hourly finally managed to close above the trendline and daily R1, M15 was a nice bullish engulfing and cross of the tdi +50 pips so +100 this morning on 1 currency.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurjpymh1.gif Size: 23 KB
  • #20,404
  • Jun 10, 2013 5:29am Jun 10, 2013 5:29am
Quoting lastingwell
Trying out the phx62 school of trading, thanks to this thread its taken me back to my old ways of trading but with more confidence with the tdi cross On demo only this morning until I get my confidence back of price action first, indicators second, but I wish they had been live. Both on EJ, both for 50 pips TP. 1st trade taken, daily R1, hourly trendline, the previous hourly candle had failed to close above the wick of the candle before it, then M15 had a doji, with a cross of the tdi so went in. Zero drawdown (only the spread) set my tp at 50...

Way to go LW
.... laughing all the way to the bank
  • #20,405
  • Jun 10, 2013 5:29am Jun 10, 2013 5:29am
Quoting rosiew7
{quote} Hello Everyone, Can I please ask a dumb question. I am a MAC user so don;t know how to make a screen shot on a PC, which I am using here. Does it save the image to the desktop like the Mac? so I can attach as per Emmanuel's request. Thanks, Rosemary
On MT4 go to File
Click Save as Picture
I choose ( as of tonight ) Active Chart 800x600
OK
Should save it to your PC - desktop or documents or whatever.On this Thread, as Emmanuel advised me today, bottom left you see "Attach Files" Upload from Computer.
Click that and start to write GBP or whatever and you should see the image file come up.
Click it and it will upload.
Hope that makes sense.
I too am new to this stuff.
  • #20,406
  • Jun 10, 2013 5:33am Jun 10, 2013 5:33am
Quoting irishtoffy
Hey Emmanuel, Here is the EU charts you wanted to see... {image} {image} {image}
Y have you got two candles at the end of your daily chart and I have one?
Attached Image (click to enlarge)
Click to Enlarge Name: metatrader - alpari uk.png3.png Size: 96 KB
  • #20,407
  • Jun 10, 2013 5:33am Jun 10, 2013 5:33am
Quoting andygrope
{quote} On MT4 go to File Click Save as Picture I choose ( as of tonight ) Active Chart 800x600 OK Should save it to your PC - desktop or documents or whatever.On this Thread, as Emmanuel advised me today, bottom left you see "Attach Files" Upload from Computer. Click that and start to write GBP or whatever and you should see the image file come up. Click it and it will upload. Hope that makes sense. I too am new to this stuff.

Thanks very much, I will try

Regards,
Rosemary
  • #20,408
  • Jun 10, 2013 5:34am Jun 10, 2013 5:34am
Quoting itsallover
{quote} Way to go LW
Thank you
  • #20,409
  • Jun 10, 2013 5:59am Jun 10, 2013 5:59am
EJ 10 Jun H1 trades:

Here my EJ trades closed.
Trading the pin bar of last Friday.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ week 24 10 Jun H1 trades 10-6-2013 6-51-55 PM.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,410
  • Jun 10, 2013 6:02am Jun 10, 2013 6:02am
Quoting andygrope
Hi All, As a newbie you may have to direct me a bit. I uploaded (1st timethanks Emm) my 4h chart , having put the lines and fibs levels on the day chart. 1 Amazing how the highs/lows, open closes etc line up with the Fib levels. 2 this trade will be counter trend but wort a punt for the following reasons. a the green is about to cross the red on the TDI b the green is coming back through the blue on the tdi - overbought - one the Day Chart c the IB is a setup. I would enter just below the IB - 1.31770 say or with a brek through the 38.2 Fib Lavel...
http://www.forexfactory.com/attachment.php?attachmentid=1210322&stc=1&thumb=1&d=1370852181

Hi andygrope,

Your 4H sell trade is risky with that late entry and it is Monday.
Learn to follow the 4H entry rules and be patient and wait for the setups.

See pic below:
Attached Image (click to enlarge)
Click to Enlarge Name: EU week 24 10 Jun 4H 10-6-2013 5-46-09 PM.png Size: 58 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,411
  • Jun 10, 2013 6:03am Jun 10, 2013 6:03am
Quoting emmanuel7788
Trade ideas for EU and GU week 24: Can everyone post your H4 charts for these EU and GU pairs showing the Day Open High Low and Close of 6 Jun and 7 Jun. And also draw the Fibo-r from the low to high of week 23, i.e. last week. You want to get a 4H swing trades using the Day Inside Bar, you must do the preparation work. Then we can discuss here how to catch the IB Breakout as the market progress.
Hi Emmanual , my charts for EU & GU, interested to your thoughts on these two, my idea would be to wait for the break out of the H4 IB in the direction of the longer term trend with confirmation of the TDI cross during the breakout. If the breakout happened to be against the trend, id be thinking twice about it. Seems to be enjoying a period of consolidation atm... im a watching...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu 10.6.JPG Size: 139 KB
Click to Enlarge Name: eu 10.6.JPG Size: 138 KB
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #20,412
  • Jun 10, 2013 6:37am Jun 10, 2013 6:37am
Quoting lastingwell
Trying out the phx62 school of trading, thanks to this thread its taken me back to my old ways of trading but with more confidence with the tdi cross On demo only this morning until I get my confidence back of price action first, indicators second, but I wish they had been live. Both on EJ, both for 50 pips TP. 1st trade taken, daily R1, hourly trendline, the previous hourly candle had failed to close above the wick of the candle before it, then M15 had a doji, with a cross of the tdi so went in. Zero drawdown (only the spread) set my tp at 50...
Nice trades lastingwell......I traded EJ H1 live for 100 pips also.....a break of the Friday high and a bounce of the TDI for 50 and a break above the LO first hour candle and another bounce of the TDI for 50 more.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.6.10 ej h1.png Size: 53 KB
  • #20,413
  • Jun 10, 2013 6:43am Jun 10, 2013 6:43am
Quoting Phx62
{quote} Nice trades lastingwell......I traded EJ H1 live for 100 pips also.....a break of the Friday high and a bounce of the TDI for 50 and a break above the LO first hour candle and another bounce of the TDI for 50 more. {image}
Thanks phx Very nice trades too!
  • #20,414
  • Jun 10, 2013 6:54am Jun 10, 2013 6:54am
Hi Emmanuel,

here are my 2 charts,

thanks,
Rosemary
Attached Image(s) (click to enlarge)
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  • #20,415
  • Edited 8:43am Jun 10, 2013 8:18am | Edited 8:43am
Hi Emmanuel,

This is my Eur/usd chart.
Attached Image (click to enlarge)
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  • #20,416
  • Jun 10, 2013 8:24am Jun 10, 2013 8:24am
EU and GU 4H update:

Thanks to all the members who posted their charts.
Be patient folks, this is 4H trading so we must wait for a high probability setup for the IB breakout.
If we take the counter-trend trade, it is risky unless we see a strong bearish pattern on H4 or D.
It's only Monday, we still have another 4 trading days ahead.

Time to go now...it's my bedtime.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,417
  • Jun 10, 2013 8:50am Jun 10, 2013 8:50am
Hello Emms
Here is my chart
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4hr.PNG Size: 99 KB
  • #20,418
  • Jun 10, 2013 3:45pm Jun 10, 2013 3:45pm
Hi all, found this technique/method simple but powerful. Will look for a test tomorrow.
Sejati, Baik, Sabar...
  • #20,419
  • Jun 10, 2013 4:36pm Jun 10, 2013 4:36pm
Hi Emmanuel, bit late but this is how I look at the EU chart: First the Daily.

Last week price tried to reach the 61.8 of the last swing down wich started begin this year. But price failed to touch it. There is a resistance zone, look to the left.
Today price tried again. If it fails again then I start to look fot a Short. On the H4 I draw a Fib from the last swing up to the top of last week. The 38.2 of this swing makes confluence with the 38.2 of the Daily Chart. It's also 1.3100, round number. It's also last week 50%. And there is a historical line. 1.3100 would be the first target. It might bounce up but when it goes south again there is a beautiful zone at the 61.8 of the H4 swing, just around the RN 1.3000. It's going to be an interesting week.
Attached Image(s) (click to enlarge)
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  • #20,420
  • Jun 10, 2013 5:51pm Jun 10, 2013 5:51pm
Quoting Pipsmurfer
Hi Emmanuel, bit late but this is how I look at the EU chart: First the Daily. Last week price tried to reach the 61.8 of the last swing down wich started begin this year. But price failed to touch it. There is a resistance zone, look to the left. Today price tried again. If it fails again then I start to look fot a Short. On the H4 I draw a Fib from the last swing up to the top of last week. The 38.2 of this swing makes confluence with the 38.2 of the Daily Chart. It's also 1.3100, round number. It's also last week 50%. And there is a historical...
Hi Pipsmurfer,
Never too late as it is only first trading day this week. Thanks for your post sharing a good analysis and plan.
Very good view using D chart. I LIKE

As you have seen the market decline of Feb and Mar, it has corrected with retracement and there is a resistance which play as support today. If this resistance turned support play out this week, it will be a support for longs.
That Day IB consolidation obviously attracted a lot of PA traders attention to trade this IB this week. It won't be easy as most indicators systems also show that EU is bullish.
Just to back-testand study the D chart, we all see the rally started with that Bullish Engulfing BUEB candle on 29 May. From that day onward, TDI show bullish and any sell TMS setups on H4 would have been counter-trend and more risky. There were several Day IB in the last 2 weeks and also H4 IBs which gave good buy setups.
To reverse we need to see strong Day reversal, but that will normally show up a correction in lower TF H4.
This is one reason why I always start the day by looking at the W1 charts and then drill down to the D charts and to look at the CS price action.

Good analysis and let's see how market will play out this week. That Day IB, can play out either way, so better thing is to go down to lower TF and look for intradaya trades and build up from there. There are no big news for euro zone this week, but surprises can happen.

Trade Well!
Attached Image (click to enlarge)
Click to Enlarge Name: EU pipsmurfer 10 Jun.png Size: 128 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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