Trading Made Simple for Day Charts | Page 75 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Made Simple 151,892 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

Charts, Charts, Charts! 1 reply

Trading Made Simple Charts Journal 2 replies

Attachments: Trading Made Simple for Day Charts
Exit Attachments

Trading Made Simple for Day Charts

  • #1,481
  • Jun 11, 2013 3:58pm Jun 11, 2013 3:58pm
Interesting observation on swap fees. Supposedly if a trade in one direction would give a negative swap, a trade in the other direction would give a positive swap, right?

On demo account I placed a buy chfjpy order, just for .01 lots, on the 22nd April. It has no swap. A week later on the 29th April I placed a corresponding sell order. It has a minus 43c swap.

Small change, but disappointing.
  • #1,482
  • Jun 11, 2013 11:57pm Jun 11, 2013 11:57pm
Quoting Buttonjock
Interesting observation on swap fees. Supposedly if a trade in one direction would give a negative swap, a trade in the other direction would give a positive swap, right? On demo account I placed a buy chfjpy order, just for .01 lots, on the 22nd April. It has no swap. A week later on the 29th April I placed a corresponding sell order. It has a minus 43c swap. Small change, but disappointing.
From what I understand (sketchy at best), if a trade closes the first day of trading in the red, the swap fee goes negative, if a trade closes the first day of trading in the black, the swap fee goes positive - not sure if that is the correct definition of how it works
"To live with Passion, it takes Courage and Grace to survive"
  • #1,483
  • Jun 13, 2013 3:58pm Jun 13, 2013 3:58pm
Quoting Britpip7
{quote} From what I understand (sketchy at best), if a trade closes the first day of trading in the red, the swap fee goes negative, if a trade closes the first day of trading in the black, the swap fee goes positive - not sure if that is the correct definition of how it works

I think that is correct, so it should affect all trades on that currency pair, in opposite directions if they are long or short
  • #1,484
  • Jun 13, 2013 11:27pm Jun 13, 2013 11:27pm
Possible entry signal on NZD/CHF

Positives:
APB colour change - good candle shape - large candle, so possible pull back initially before a move north
2/7 cross - on current day candle - Trade Signal Line following PA
Confirmation arrow
PA crossed and closed above 7MA
TDI cross from 32

PA has pulled a significant amount away from 100/200EMA with a current gap of 340pips

PA moving away from Demand Zone on Weekly chart

Negatives:
RSI below 51
Current move has travelled 250 pips
Still strong day trend down, so possible pause before continuation
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdchfweekly.png Size: 60 KB
Click to Enlarge Name: nzdchfdaily 6-13-2013.png Size: 49 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,485
  • Jun 14, 2013 11:23am Jun 14, 2013 11:23am
Quoting Britpip7
Possible entry signal on NZD/CHF Positives: APB colour change - good candle shape - large candle, so possible pull back initially before a move north 2/7 cross - on current day candle - Trade Signal Line following PA Confirmation arrow PA crossed and closed above 7MA TDI cross from 32 PA has pulled a significant amount away from 100/200EMA with a current gap of 340pips PA moving away from Demand Zone on Weekly chart Negatives: RSI below 51 Current move has travelled 250 pips Still strong day trend down, so possible pause before continuation {image}...
An addition to the negatives would be BRN of 0.7500 - I have me pending buy set above this.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,486
  • Jun 16, 2013 3:52pm Jun 16, 2013 3:52pm
Quoting Britpip7
{quote} An addition to the negatives would be BRN of 0.7500 - I have me pending buy set above this.

Hard one to pick. Weekly chart had a pullback, however it didn't close above the 200 EMA. There's also a zone of very choppy movement between .74 and .76
  • #1,487
  • Jun 18, 2013 8:00pm Jun 18, 2013 8:00pm
Not much to report this week apart from a bunch of ranging and false alerts!

EJ and UJ looking for a break north

EJ Positives
2/7 cross in play
ABP colour change with good candle size
Confirmation Arrow
Cross and Close above EMA89
TDI cross with Trade Signal Line up

EJ Negatives
RSI sulking below 49
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpydaily 6-18-2013.png Size: 52 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,488
  • Jun 18, 2013 8:03pm Jun 18, 2013 8:03pm
UJ Positives
ABP colour change with good candle size
Confirmation Arrow
Cross and Close above EMA89
TDI cross with Trade Signal Line up from the 32

UJ Negatives
RSI way below 49
No 2/7 cross - PA has not yet crossed and closed above 7EMA
No confirmation arrow
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpydaily 6-18-2013.png Size: 53 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,489
  • Jun 18, 2013 8:06pm Jun 18, 2013 8:06pm
GU Positives
2/7 cross in play
ABP colour change with good candle size
Confirmation Arrow
Cross and Close above EMA89
TDI cross from 68 with Trade Signal Line down

GU Negatives
RSI sitting at 61
Price currently 100 pips above 200EMA and 21EMA
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily 6-18-2013.png Size: 55 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,490
  • Jun 18, 2013 8:20pm Jun 18, 2013 8:20pm
FOMC news is on Wednesday - when the market consolidates, this is often a kick start - watch your entries and Stop Loss settings.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,491
  • Jun 19, 2013 12:12am Jun 19, 2013 12:12am
Tough one to call - last time AUD/JPY got stuck on a price it was back in the end of May. PA was hanging around 97.00 with RSI lurking around 25. When it did move it ran lower.

Now we see PA holding at 90.00 with RSI again lurking in the 25-30 range. This is a strong price for consolidation, but no real signals for direction at this time, even though everything is screaming Demand Zone and for a bounce higher.

May be a good time for a hedge trade and place pending buy on this pair with a pending sell on possibly NZD/JPY and pray to the Forex gods that there are no honking great PA spikes.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpydaily 6-18-2013.png Size: 49 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,492
  • Jun 19, 2013 11:55am Jun 19, 2013 11:55am
For those of us eagerly awaiting the reversals of the AUD based currencies, bear in mind the link to gold. AUD is a commodity based currency and closely follows gold. CAD does a similar thing with oil.

Gold has had a long run up and was fueled in part by world economies faltering. As these economies recovered, gold lost its appeal. So, for AUD to reverse, gold needs to have some strength. Maybe G8 and FOMC may shed some light on the directions, but PA is still key.

AUD could just as easily continue recent trend runs. Wait for clear breaks of current ranges and keep your money management tight.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold 5 year.gif Size: 44 KB
Click to Enlarge Name: aud usd 5 year.png Size: 41 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,493
  • Jun 19, 2013 4:22pm Jun 19, 2013 4:22pm
Quoting Britpip7
FOMC news is on Wednesday - when the market consolidates, this is often a kick start - watch your entries and Stop Loss settings.

Annnd they're off ... in the way out wacky races, lol.

E/U S2 long got stopped out, but with a nice profit. Actually did some add ins with this one too. G/U pending short kicked in. Under the circumstances, decided to close S1 and move S2 to break even. If it continues, ll well and good. If not, can always get back in later. Feels good when a plan comes together.
  • #1,494
  • Jun 19, 2013 4:30pm Jun 19, 2013 4:30pm
Quoting Buttonjock
{quote} Annnd they're off ... in the way out wacky races, lol. E/U S2 long got stopped out, but with a nice profit. Actually did some add ins with this one too. G/U pending short kicked in. Under the circumstances, decided to close S1 and move S2 to break even. If it continues, ll well and good. If not, can always get back in later. Feels good when a plan comes together.
Nicely done - lots of blood earlier with the lower time frame traders seeing some huge draw downs - patience is a virtue
"To live with Passion, it takes Courage and Grace to survive"
  • #1,495
  • Jun 19, 2013 7:07pm Jun 19, 2013 7:07pm
Hi.
Have been learning tms for a few months now and having been a day chart trader years ago and having an amount of regard for fundamentals and medium term trends, I have decided to use Big E's method on day chafts.
I have been attempting TMS $hr trades with some reasonable success but have limited myself to trading with the trend - basically just an overview of medium term trend.
Do you guys trade counter trend on the day charts and what is the difference in your method if you do ?
Have not had time to read the whole thread but basically will use PA, the trend, s&p based on lows and highs and perhaps FIB plus of course TDI and Stochs.
- and of course Synergy candles.
Does that sound reasonable or is there a simpler better combo?
Cheers
Andy
  • #1,496
  • Jun 19, 2013 9:00pm Jun 19, 2013 9:00pm
Quoting andygrope
Hi. Have been learning tms for a few months now and having been a day chart trader years ago and having an amount of regard for fundamentals and medium term trends, I have decided to use Big E's method on day chafts. I have been attempting TMS $hr trades with some reasonable success but have limited myself to trading with the trend - basically just an overview of medium term trend. Do you guys trade counter trend on the day charts and what is the difference in your method if you do ? Have not had time to read the whole thread but basically will...
Andy,

Welcome to the thread. As this Day and occasionally H4, we are looking for reversals / swing trades and add-ons with the H4 to trend runs. Review the recent charts posted to get an idea of the analysis and the patterns.

Post # 1 is up to date - read that along with the referenced posts and you should be on the right track.

Happy pip hunting
"To live with Passion, it takes Courage and Grace to survive"
  • #1,497
  • Jun 19, 2013 9:08pm Jun 19, 2013 9:08pm
Considering that several moves occurred leading up to and after FOMC, look for Add-Ons on the H4.

Although the temptation is there to dive into a trend that is running, wait for the signals to confirm.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,498
  • Jun 19, 2013 9:19pm Jun 19, 2013 9:19pm
USD looks to be considering a move higher, so USD/CHF is a reasonable candidate.

Positives - Day Chart
Strong APN colour change candle
2/7 MA cross in process
Confirmation arrow
TDI cross from 32 with Trade Signal Line following PA

Negatives
TDI sulking below 51
PA stalling on new candle
EMA89/200 110 pips above PA, so TP1 should be set just under that level!

H4 Chart has a new Fractal High set, so another option is to take an entry on the fractal break.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchfdaily 6-19-2013.png Size: 57 KB
Click to Enlarge Name: usdchfh4 6-19-2013.png Size: 53 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,499
  • Jun 19, 2013 9:44pm Jun 19, 2013 9:44pm
If you take the general argument that AUD and CAD are both commodity based currencies, then it becomes a battle between gold and oil.

Currently the H4 is showing a downtrend on the TDI with a recent cross and a break of the 6-11 Fractal Low would be a good entry point with RSI 10 already below 49.
Attached Image (click to enlarge)
Click to Enlarge Name: audcadh4 6-19-2013.png Size: 55 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,500
  • Jun 19, 2013 9:56pm Jun 19, 2013 9:56pm
Eur/CAD is showing a TDI divergence which may be worth watching for entry points on H4

Positives - Day
TDI Divergence with a bounce off of the Weekly Resistance area / Supply Zone
TDI cross in process with Trade Signal Line heading lower
PA showing initial signs of reversal pattern

Negatives - Day
No 2/7MA cross
RSI 10 still high

H4 entry possibilities on break of recent Fractal Low and RSI 10 dropping below 49
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcadweekly.png Size: 58 KB
Click to Enlarge Name: eurcaddaily 6-19-2013.png Size: 52 KB
Click to Enlarge Name: eurcadh4 6-19-2013.png Size: 62 KB
"To live with Passion, it takes Courage and Grace to survive"
0 traders viewing now