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  • #21,861
  • Jul 15, 2013 10:48pm Jul 15, 2013 10:48pm
Quoting tenmilewalk
Any advice appreciated Good start to the week. Entered short after LO failed to set high and form third consecutive doji. Traded breakout of those dojis. Profit Barely hit at .9036 before retracement {image}

Congrats tenmilewalk . I took that trade too. But my TP didn't hit so I'm out with 10 pips only,the US news really messed me up . Should have close that trade or take some profit before that big impact news. But anyway,looking forward to today London session .
  • #21,862
  • Jul 15, 2013 11:02pm Jul 15, 2013 11:02pm
Quoting frenetic
{quote} Congrats tenmilewalk . I took that trade too. But my TP didn't hit so I'm out with 10 pips only,the US news really messed me up . Should have close that trade or take some profit before that big impact news. But anyway,looking forward to today London session .
The TMS entry would have been the open of the marked candle, which was the second red candle, and your 50 pip TP would have been hit.....at the open of that candle, the green TDI line had crossed over the red and was below the 50 line....a classic TMS entry.
Attached Image (click to enlarge)
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  • #21,863
  • Jul 15, 2013 11:30pm Jul 15, 2013 11:30pm
Quoting Phx62
{quote} The TMS entry would have been the open of the marked candle, which was the second red candle, and your 50 pip TP would have been hit.....at the open of that candle, the green TDI line had crossed over the red and was below the 50 line....a classic TMS entry. {image}
Yes,at first I thought so too. But after 3 APB candle with both upper wicks and lower wicks and the first red candle didn't break through the low of the LO candle so I just want a little bit of confirmation to enter the trade so I wait for price to broke through the low of that red candle to enter. But as you said,it takes time to know when to take aggressive or conservative entry. But think about your advice,maybe I should take that too based on the downtrend on AU and the retest of Asian High. Anyway,thank you so much for your efforts,even though you didn't take that trade but still you are willing to share with us your opinion
  • #21,864
  • Jul 15, 2013 11:59pm Jul 15, 2013 11:59pm
Quoting frenetic
{quote} Congrats tenmilewalk . I took that trade too. But my TP didn't hit so I'm out with 10 pips only,the US news really messed me up . Should have close that trade or take some profit before that big impact news. But anyway,looking forward to today London session .
once again. glad to be on the same page
  • #21,865
  • Jul 16, 2013 12:34am Jul 16, 2013 12:34am
any advice appreciated.

does the eur.usd H4 look like a good entry?
Barrier, "weekly" high.
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  • #21,866
  • Jul 16, 2013 12:34am Jul 16, 2013 12:34am
waiting for a break across resistance on EU. Whil eon EJ, waiting for price to break that IB and also high of previous day
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Daniel
  • #21,867
  • Jul 16, 2013 1:15am Jul 16, 2013 1:15am
Quoting Phx62
{quote} I entered a long trade at LO after price had broken above the high of the previous 3 candles.....I monitored it until it was I profit 21 pips and went back to bed since I had a business meeting to attend this morning....price pulled back and stopped me out at BE. I have my alarm set for the top of each hour for the first 4 hours of the London on days that I cannot stay up and monitor the trades. I re-entered long on the fourth candle of London on a continuation of the long and another break above yesterdays high....hit TP and the ADR was...
Hi Phx62

How much consideration would you have given to the high on Thursday last week and last week's high on Tuesday when deciding on entering the EJ long?
Would the break of yesterday's Asian session high and Friday's high (and obviously TDI & PA) outweighed the highs set last week? (Also, from yesterday's break level, there was about 50-70 pips room to the highs set last week.) These highs are what kept me out of the trade.

Regards
Axiom
  • #21,868
  • Jul 16, 2013 1:15am Jul 16, 2013 1:15am
Quoting Erol
{quote} Modendran, check out the paper clip at the top right hand of the page. Search the attachments by file type and look at all the PDFs that have been uploaded. There have been a lot of PDFs posted that will help you get up to speed. Last week someone posted their third installment of PHx62's top trading example posts - check out post 21,252! Erol
Hi Emmanuel,

Wow you have answered my question before I can even ask... thank you.
  • #21,869
  • Jul 16, 2013 1:20am Jul 16, 2013 1:20am
any advice appreciated
little bit of practice identifying momentum/continuation trades. I find those ones the most difficult to identify. Probably wont be starting to trade those in the forseeable future
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  • #21,870
  • Jul 16, 2013 4:06am Jul 16, 2013 4:06am
Good Evening all, lots of new about atm, maybe time to stay out??
  • #21,871
  • Jul 16, 2013 4:31am Jul 16, 2013 4:31am
GU 16 Jul LO trade:

Trade entry on the close of the pullback candle at yesterday high.
Price driven down on weak data out of the UK.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,872
  • Jul 16, 2013 4:35am Jul 16, 2013 4:35am
Great job Emmanuel!!!!

Today markets are very boring....

I hope in the USA session......
  • #21,873
  • Jul 16, 2013 4:40am Jul 16, 2013 4:40am
any advice appreciated
three trades on eur.jpy

Originally entered on breakout of resistance near 130.73 Price failed to follow through. Retraced. Loss
After LO high was set and breakout failed, entered short for the ride down.
Decided to try the 15min tf for a quick scalp. Entered after 200 ema tested along with several dojis and pullback. Entered long after pullback reversal pattern
Attached Image (click to enlarge)
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  • #21,874
  • Jul 16, 2013 4:43am Jul 16, 2013 4:43am
Failed pullback entry on aud.usd.h1
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  • #21,875
  • Jul 16, 2013 5:02am Jul 16, 2013 5:02am
EU 16 Jul H1 trade LO:

This trade did not go too well with the news.
manage partial exit before the news release +20pips. and BE trade. Stopped out -2pips after news released.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 16 Jul H1 LO trade 16-7-2013 5-57-00 PM.png Size: 32 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,876
  • Jul 16, 2013 5:03am Jul 16, 2013 5:03am
Quoting frank_seb
Great job Emmanuel!!!! Today markets are very boring.... I hope in the USA session......
thanks frank,
market narrow ranging for GU and EU, so take trades with smaller TP.
let's see what US session will bring later.

Trade Well
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,877
  • Jul 16, 2013 5:08am Jul 16, 2013 5:08am
Quoting emmanuel7788
GU 16 Jul LO trade: Trade entry on the close of the pullback candle at yesterday high. Price driven down on weak data out of the UK. {image}
Hi emmanuel

Regarding your GU trade:
You entered with still 30 min before the news.
Were the factors you mentioned (pullback candle, at Y high) sufficient enough to risk a trade prior to news release?

Axiom
  • #21,878
  • Jul 16, 2013 5:13am Jul 16, 2013 5:13am
thanks emmanuel!!!!!!!!!
  • #21,879
  • Jul 16, 2013 5:32am Jul 16, 2013 5:32am
I've recently downloaded a demo of Mt4. I really like the template in post 21,863. Is there a way to do that in mt4?

Cheers
  • #21,880
  • Edited 6:17am Jul 16, 2013 5:40am | Edited 6:17am
Quoting Axiom
{quote} Hi emmanuel Regarding your GU trade: You entered with still 30 min before the news. Were the factors you mentioned (pullback candle, at Y high) sufficient enough to risk a trade prior to news release? Axiom
Hi Axiom,
the news was one and half hours away when I decided on that entry.
that pullback candle has stromg downward momentum. Looks at M15, the first M15 bar of that H1 candle was green, then the next 3 M15 were red... this is strong H1 close.... although you see the APB was blue, the real price close was red.

To mitigate the risk, there must be room to scale out and reduce the overall trade risk from R to 0.5R when I scale out one position taking profit at +R.
I kept the initial SL at -1xR and look at the PA when news release. Seeing the move down, I move my initial SL to BE, then +1R, then +2R as price moved down.

Truth is I was greedy wanting a +3R trade but market stopped me out.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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