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Trading Made Simple

  • #20,541
  • Jun 12, 2013 12:26pm Jun 12, 2013 12:26pm
Quoting Pervis
{quote} You're KING of Price Action!!! master. I had learn a lot from you. Thanks you very for share your mine & your guiding trade.. I also took for trade today, all base on PA, TDI cross & pullback, one loss & there win. Net gain 200 pips {image} {image} {image}
Top Notch
  • #20,542
  • Jun 12, 2013 12:29pm Jun 12, 2013 12:29pm
Quoting Phx62
{quote} tenmilewalk, I have looked over all the trades you posted in the past couple of pages.....they all look good to me.....you are reading price action very well. One thing to remember, as good as the TDI indicator is, it still is a lagging indicator.....it will not always complete the cross on the H1 but if green and sometimes red are pointing in the right direction and near a cross then check out the M15, then enter. Two EJ trades today for me....the second one you also took. {image}
Hello Phx 62. This little vouch is the biggest confirmation so far that Im doing something correctly.

Inspiring as usual. For the first trade you entered. I wanted to enter because there was a double bottom formation with dojis. When you made your entry, did that pattern have any weight in your decision or was it because PA broke Daily high at LO?
  • #20,543
  • Jun 12, 2013 12:46pm Jun 12, 2013 12:46pm
Quoting tenmilewalk
{quote} Hello Phx 62. This little vouch is the biggest confirmation so far that Im doing something correctly. Inspiring as usual. For the first trade you entered. I wanted to enter because there was a double bottom formation with dojis. When you made your entry, did that pattern have any weight in your decision or was it because PA broke Daily high at LO?
Entry was just based on a continuation move of the Asian session uptrend....once the candle opened and began to move up also, I entered....purely price action. As I have stated before, I keep the M15 open alongside the H1. The TDI green was crossing over the red and had already crossed over the yellow on the M15 when I took the trade.
  • #20,544
  • Jun 12, 2013 12:54pm Jun 12, 2013 12:54pm
Quoting medlyon
{quote} IB is inside bar. Can you tell me what makes you think that GBP/USD will go up and rise? In my opinion, i am now waiting to short GBP/USD as a weekly trendline resistance can be quite strong. I will just wait for the set up to appear. Let's see.

Hi medlyon,
Here is my trade, i took. There is an uptrend, and i entered because the TDI indicator crossed.
Can you please show me the weekly line for resistance ?

Thanks a lot

Best regards,
FX94
Attached Image (click to enlarge)
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  • #20,545
  • Jun 12, 2013 2:53pm Jun 12, 2013 2:53pm
Quoting Fx94
Hello Traders, @Greenb: Thanks a lot for your answer. I am still learning from my mistakes ! Do you mean with the week volatility, the volatility between the entry point (monday) and the exit point (friday) of a week ? = week candle ? You have another template, because your candle was big and i had 3 little candles. Could you post your template please ? I exited my EUR/CAD trade because my TP was hit. I still have problems to set a good TP. Do you have rules or ideas how to solve this? My EUR/CHF Trade: Please tell me, what is an "IB" ? I know...

1. Just look at the chart, last week it moved down from start of week till 12 hours before end of market, total move around 150 pips, goes back up 130 pips ish. total for the week 280 assuming you are monitoring the trade 24/7 and managed to get in at the right time and get out at the perfect timing. Now take EJ for example, even on ranging week 2 weeks ago, there are 600 pips that can be grabbed. see the volatility difference there?

2. It is not different template, our 4h chart start at different time, that's why the candle is different.

3. My initial TP is calculated based on the 4h candle ADR if im trading using 4hTF, 1x ATR is my tp1. On EJ this is about 98-100 pips. But if i see the price is moving to my tp really fast, i extend it up to 2x ATR.

4.IB = Inside Bar. it means consolidation or indecision. read this to know more http://www.learntotradethemarket.com...-forex-strateg

5. TDI becomes flat, you will need to go and look at the candlestick pattern. This i cant really explain it to you because it would take hundreds of pages. http://www.babypips.com/school/eleme...candle-sticks/

6. If you are a newbie in forex, my suggestion is to finish this http://www.babypips.com/school/ It will help you understand and see thing clear-er

Greenb
Daniel
  • #20,546
  • Jun 12, 2013 3:43pm Jun 12, 2013 3:43pm
To those watching AU, just want to drop in this info:

DIVERGENCE
Attached Image (click to enlarge)
Click to Enlarge Name: au divergence.gif Size: 46 KB
Daniel
  • #20,547
  • Edited 5:44pm Jun 12, 2013 4:44pm | Edited 5:44pm
Quoting emmanuel7788
{quote} {quote} {quote} See pic and do this and convince yourself as a trader whether you want to short when this H4 candle close and NY opens. Big E would short and grab a few pips while he trades the NYO first few hours. It is like scalping on H4. It will take more than one H4 candle and TDI cross down to reverse the trend so easily and this quickly. But there are many buyers stops below...including mine. {image}
EU update:

Here we see another H4 TDI cross and APB/HA change colour failure when NYO. There was little chance for sellers to take few pips and market reverse back in one H4 candle very strong breakimg that historical resistance in one move. It tested the second resistance, and pullback. Now it get more interesting to see if that second reistance will be broken.
There is no bearish reversal yet until we see PA on D1 and W1 to show reversal, until that happen the Primary Trend is UP.
Any TMS 4H sell ups will be correction move only and are risky until the higher TF shows a Bearish trend.
Lower TF sell trade on H1 and M15 can still be good but you must watch the market session open and close times and read the PA.

Trade Well and we have US data release in about 14 hours.

Trade Well.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU Weekly view 12-6-2013 7-46-00 PM.png Size: 45 KB
Click to Enlarge Name: EU Weekly view update 13-6-2013 5-18-56 AM.png Size: 30 KB
Click to Enlarge Name: EU H4 view 13-6-2013 5-19-03 AM.png Size: 75 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,548
  • Jun 12, 2013 5:00pm Jun 12, 2013 5:00pm
EU H1 trade examples:
Attached Image (click to enlarge)
Click to Enlarge Name: EU H1 trade examples 13-6-2013 5-53-14 AM.png Size: 47 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,549
  • Jun 12, 2013 5:17pm Jun 12, 2013 5:17pm
GU H4 view update:
Attached Image (click to enlarge)
Click to Enlarge Name: GU H4 view13-6-2013 6-10-39 AM.png Size: 60 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,550
  • Jun 12, 2013 5:31pm Jun 12, 2013 5:31pm
AU week 24:
Critical week for AU to decide if it will move further down.
H1 is chopping up and down, good range for intraday.
Attached Image (click to enlarge)
Click to Enlarge Name: AU Montlhy view 13-6-2013 6-21-49 AM.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,551
  • Jun 12, 2013 6:57pm Jun 12, 2013 6:57pm
Phx62,

To start, thank you for finding time from your business and trading to assist all of us that are trying to learn and reach a degree of successful forex trading. I live in CST, and my alarm is set for 1:50 am each day. This really isn't an issue, as I normally get ready for work and leave the house shortly after 3. I wait for the 1st EU candle to open at the LO. I have lines above and below the Asian/Frankfurt range. I also take into consideration yesterday's high/low, weekly S/R, PA momentum, and TDI crossing. (I also utilize the Caveman EA in my trading). The fact is, I only get one opportunity for a trade setup each day, and that is at the LO. I have read both of your PDF's twice, and you have mentioned more than once that you have studied the 15M charts, and often refer to them for entries on the 1H, or you scalp the 15M at any session. Based on my circumstances, can you recommend how to trade the 15M charts at the LO. This would allow me to have more than one shot at a trade setup before I leave for work.

Thanks,
GB
  • #20,552
  • Jun 12, 2013 7:51pm Jun 12, 2013 7:51pm
Anyone here trading the H8 chart timeframe?
MT4 does not offer H8 charts, but other platform do.
Should work for those who have fulltime jobs and little time to monitor open trades.
24-hours per day, you see only 3 H8 candles per day.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,553
  • Jun 12, 2013 8:01pm Jun 12, 2013 8:01pm
This is my all time favourite pic.
TMS is trend trading. Which of the trend do you want to trade?
Have you practised enough and acquired the skills to see thses 10 things on your charts and make your life as a trader easy and enjoyable.

1) Price Action

2) Trend

3) Multi-Time Frame

4) Momentum

5) Support and Resistance

6) Continuation

7) Volatility

8) Market Strength

9) Range

10) Timing


Trade Well!



Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,554
  • Jun 12, 2013 10:35pm Jun 12, 2013 10:35pm
hey guys , i came bk carrying dat pivot indi with modification done by RedLineFred , now you can modify colors.

again anybody who wanna use plz dont be lazy and trust anything anybody throws around, u need to go and calculate pivots manually then use da indy and

compare .


cheers!
Attached File(s)
File Type: mq4 AutoPivotIndicator_RLF.mq4   10 KB | 366 downloads
  • #20,555
  • Jun 12, 2013 11:16pm Jun 12, 2013 11:16pm
Quoting gbmcgee
Phx62, To start, thank you for finding time from your business and trading to assist all of us that are trying to learn and reach a degree of successful forex trading. I live in CST, and my alarm is set for 1:50 am each day. This really isn't an issue, as I normally get ready for work and leave the house shortly after 3. I wait for the 1st EU candle to open at the LO. I have lines above and below the Asian/Frankfurt range. I also take into consideration yesterday's high/low, weekly S/R, PA momentum, and TDI crossing. (I also utilize the Caveman...
gbmcgee,
I understand your circumstance completely, having done much the same thing for years. Let me caution you that trading the M15 is quite tricky because of the number of whipsaws. Unless I am just scalping for 10 or 20 pips, I don't trade the M15 much (I still try it occasionally on demo). In my opinion, the best use for the M15 (unless you are only looking for 10 to 20 pips) is to confirm a reversal on the H1 by looking at the TDI on the M15.
I don't know if you are aware but Big E (eelfranz) started a thread here http://www.forexfactory.com/showthread.php?t=211188 on trading the M15 before starting the Trading Made Simple thread. Craig Harris seems to be very successful trading that time frame. You can check that out to learn more about trading the M15.
Hope this helps.......
  • #20,556
  • Jun 12, 2013 11:22pm Jun 12, 2013 11:22pm
My eur/usd chart for today.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 44 KB
  • #20,557
  • Jun 12, 2013 11:27pm Jun 12, 2013 11:27pm
Quoting medlyon
Sell Eur/usd, enter at open of APB/HA #2. TDI green cross red, APB/HA #1 red (sell), bearish divergence from TDI, IB breakout, fake breakout from the ascending triangle. {image}

Hit my stop loss. Should have move the SL to BE. Well lesson learned. My next trade will be better.
  • #20,558
  • Jun 13, 2013 12:15am Jun 13, 2013 12:15am
Quoting Phx62
{quote} tenmilewalk, I have looked over all the trades you posted in the past couple of pages.....they all look good to me.....you are reading price action very well. One thing to remember, as good as the TDI indicator is, it still is a lagging indicator.....it will not always complete the cross on the H1 but if green and sometimes red are pointing in the right direction and near a cross then check out the M15, then enter. Two EJ trades today for me....the second one you also took. {image}

Nice tip there Phx62, I wanted to find a solution for this kind of situation where Price Action is showing a potential setup but TDI is slow and only pointing for a cross so checking the 15M chart and look for a cross there is the way to go, thank you
I Have Learned to Take Some Losses to Make Profits
  • #20,559
  • Jun 13, 2013 12:25am Jun 13, 2013 12:25am
PA reconciliation of Multi-Time Frame ...
Do you know that :

a 3-bar reversal pattern on M15 is a Pin Bar (pullback bar) on H1

a 3-bar reversal pattern on H1 is a Pin Bar (pullback bar) on H4

these is provided you know the candle count correctly that 4xM15 bars make one H1 and 4 x H1 bars make one H4.... and know how to read PPA.

or you can use a Triple Screen setup to show M15, H1 and H4 charts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,560
  • Jun 13, 2013 12:44am Jun 13, 2013 12:44am
Quoting emmanuel7788
PA reconciliation of Multi-Time Frame ... Do you know that : a 3-bar reversal pattern on M15 is a Pin Bar (pullback bar) on H1 a 3-bar reversal pattern on H1 is a Pin Bar (pullback bar) on H4 these is provided you know the candle count correctly that 4xM15 bars make one H1 and 4 x H1 bars make one H4.... and know how to read PPA. or you can use a Triple Screen setup to show M15, H1 and H4 charts.
I will look these candle setup in forward testing , Thanks Emmanuel
I Have Learned to Take Some Losses to Make Profits
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