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Trading Made Simple

  • #21,481
  • Jul 8, 2013 3:23am Jul 8, 2013 3:23am
Quoting tenmilewalk
Any advice appreciated Two trades, both on eur.jpy First trade taken on rbeakout of daily low. Price formed pullback candle and retraced back. -10 pips Second trade taken after pullback candle formation at daily Low. exited trade at Sunday high. {image}
Congrats tenmilewalk .I think you are slowly get "there",I will try to catch up
  • #21,482
  • Edited 5:01am Jul 8, 2013 4:50am | Edited 5:01am
Quoting thomi
EUR/USD HA 4h because apb change color and tdi cross up and IB by cons stop constrict as primary trade is bearish {image} {image}

Good morning,
I have 2 questions regarding this trade. first of all is your H4 candle closed?because mine closes in 15 min.
second of all what is the purpose of 5 ema in the chart?Shouldn't candle be above it to go for a long?

Thanks
Mike
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Failure, is a wonderful teacher!
  • #21,483
  • Jul 8, 2013 4:57am Jul 8, 2013 4:57am
Quoting emmanuel7788
H4 BEEB Closed. M5 Scalping with PAC {image}

Hi Emmanuel,
I knew how to trade Inside bar.wait for a breakout candle and then wait for a retrace to 50% or 61.8% fib and then go in direction of breakout candle
But I don't know how to trade Engulfing bar. It seems there is no need to wait for any other candle.only we go in after a retrace and breaking the PAC in the direction of engulfing candle.

Am I right?

Thanks
Mike
Failure, is a wonderful teacher!
  • #21,484
  • Jul 8, 2013 5:00am Jul 8, 2013 5:00am
EJ H1
Friday...one continuation trade @ LO......did not trade NFP announcement.
Today.....three trades.....First taken long after gap down at the market open for the week....did not hit 50 pip TP.....exited manually. Second trade taken following three pullback candles in a row.....TP set at last months high....TP hit. Third trade taken following LO and a nice pullback candle....missed TP by 2 pips....closed manually @ 38 pips......
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  • #21,485
  • Jul 8, 2013 5:28am Jul 8, 2013 5:28am
Quoting mike1349
{quote} Hi Emmanuel, I knew how to trade Inside bar.wait for a breakout candle and then wait for a retrace to 50% or 61.8% fib and then go in direction of breakout candle But I don't know how to trade Engulfing bar. It seems there is no need to wait for any other candle.only we go in after a retrace and breaking the PAC in the direction of engulfing candle. Am I right? Thanks Mike
you did not understand what I showed in that chart posted.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,486
  • Edited 7:20am Jul 8, 2013 6:01am | Edited 7:20am
Quoting frenetic
Trade was taken at LO. After I saw a pin bar at FO around fib level,I was looking for a signal at LO open. LO candle did go down a bit but couldn't broke the low of the pin bar and create a HL so I entered after price broke above the high of the pin bar even though there was no cross of the TDI. TP around Resistance area. {image}
Took almost the same pin bar trade , but exit a bit earlier for +30 pips and a short on EUR/JPY earlier but a counter trend trade for + 10 pips

Took those trades purely based on price action and Japanese candlestick formation
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I Have Learned to Take Some Losses to Make Profits
  • #21,487
  • Jul 8, 2013 6:02am Jul 8, 2013 6:02am
Quoting emmanuel7788
{quote} you did not understand what I showed in that chart posted.
this is my understanding:
we wait for a retracement.then we go in after the price broke the PAC in the direction of engulfing candle.
Thanks
Mike
Failure, is a wonderful teacher!
  • #21,488
  • Jul 8, 2013 7:52am Jul 8, 2013 7:52am
30 so far!
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  • #21,489
  • Jul 8, 2013 1:10pm Jul 8, 2013 1:10pm
Quoting mike1349
{quote} this is my understanding: we wait for a retracement.then we go in after the price broke the PAC in the direction of engulfing candle. Thanks Mike
I know exactly what you are thinking but that is not what my chart say.... you need to look at that H4 BEEB closely and see the open and close (the body of that candle) ... the high low is there ...

it is not about retracement of the H4 candle all the time and not in this case....

candle close of current candle is the candle open of the following candle ... can you see that?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,490
  • Edited 1:27pm Jul 8, 2013 1:15pm | Edited 1:27pm
Quoting emmanuel7788
{quote} I know exactly what you are thinking but that is not what my chart say.... you need to look at that H4 BEEB closely and see the open and close (the body of that candle) ... the high low is there ... it is not about retracement of the H4 candle all the time and not in this case.... candle close of current candle is the candle open of the following candle ... can you see that?

Yes.Actually when the next candle opens ,we already had the retracement and ready to go.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ H4 scalp entry M5 8-7-2013 2-31-01 PM.png Size: 100 KB
Failure, is a wonderful teacher!
  • #21,491
  • Jul 8, 2013 1:24pm Jul 8, 2013 1:24pm
Quoting jodwayne
30 so far! {image}
Good trade!

Here is an example how you can get a better entry price if you had waited for price to pullback after the 2nd blue candle.

Or you can enter the way you did, and then build up another position when price pullback. This will also give you an better overall average price.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,492
  • Jul 8, 2013 1:27pm Jul 8, 2013 1:27pm
Quoting mike1349
{quote} Yes.Actually when the next candle opens ,we already had the retracement and ready to go.

candle body tells you the price momentum ... this is what scalping requires not the H4 retracement.
you were too focus in retracement entry which we do in higher TF like H4 without going down to lower TF.

I just want to put emphasis on the order how we make trading decisions in different type of trade entries.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,493
  • Jul 8, 2013 1:43pm Jul 8, 2013 1:43pm
Quoting emmanuel7788
{quote} candle body tells you the price momentum ... this is what scalping requires not the H4 retracement. you were too focus in retracement entry which we do in higher TF like H4 without going down to lower TF. I just want to put emphasis on the order how we make trading decisions in different type of trade entries.

Now I got you. thanks .but Still I don't know how should I trade Engulfing Bar technically like I know for Inside Bar.Did you ever explained it and I missed the post?

Here we have a scary thunder storm
Failure, is a wonderful teacher!
  • #21,494
  • Jul 8, 2013 1:58pm Jul 8, 2013 1:58pm
Quoting mike1349
{quote} Now I got you. thanks .but Still I don't know how should I trade Engulfing Bar technically like I know for Inside Bar.Did you ever explained it and I missed the post? Here we have a scary thunder storm

thunderstorm? near noon time ... go hide in your cellar,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,495
  • Jul 8, 2013 2:00pm Jul 8, 2013 2:00pm
Quoting mike1349
{quote} Now I got you. thanks .but Still I don't know how should I trade Engulfing Bar technically like I know for Inside Bar.Did you ever explained it and I missed the post? Here we have a scary thunder storm
posted before here and also in the other S3 and M15 threads.

here download
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,496
  • Jul 8, 2013 2:03pm Jul 8, 2013 2:03pm
Quoting emmanuel7788
{quote} posted before here and also in the other S3 and M15 threads. here download
also read this Steve Nison pdf... candlestick study stuff

download
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,497
  • Jul 8, 2013 2:12pm Jul 8, 2013 2:12pm
Chart Patterns - Reversals

Triple Bottoms
see text book examples below.

this week there is one high probability pair with this pattern
Attached Images
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,498
  • Jul 8, 2013 2:12pm Jul 8, 2013 2:12pm
Quoting emmanuel7788
{quote} thunderstorm? near noon time ... go hide in your cellar,

Thanks for the links....Here is 5 PM . a little bit after noon
Failure, is a wonderful teacher!
  • #21,499
  • Jul 8, 2013 2:17pm Jul 8, 2013 2:17pm
Big bottom amd smaller bottoms ...
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,500
  • Jul 8, 2013 2:19pm Jul 8, 2013 2:19pm
Quoting mike1349
{quote} Thanks for the links....Here is 5 PM . a little bit after noon
you are in EST ... GMT-5
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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