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Trading Made Simple

  • #22,501
  • Jul 29, 2013 5:01am Jul 29, 2013 5:01am
Sell the usdjpy now and make 30pips
Be the dragon master...
  • #22,502
  • Jul 29, 2013 5:13am Jul 29, 2013 5:13am
Quoting emmanuel7788
{quote} what we want to see is the price reaction at support and resistance. you first need to identify where are the support and resistance on your charts and look at the price action. knowing how to read the price bars and the APB is a necessary skill you need to identify the pullback and reversals. when you trade intraday using H1 chart timeframe, you need to see how the previous D price action. If the previous D close bearish as an example, you need to see where the support is which is near the Previous D low and close. If there is previous...
thanks for the explanation emmanuel, you are such a great guy.

after installing all the round number level, i see how the S&R pattern goes.

i will now go and google and study about the APB.

thanks again emmanuel, it really means a lot for me, have a nice day!
  • #22,503
  • Jul 29, 2013 5:38am Jul 29, 2013 5:38am
Quoting emmanuel7788
Learn to read Price Action and use the Prev D OHLC and the price levels 00, 25,50....they are always on your charts. you dont need indciators nor worry about if indicators repaints, etc. {image}
Hi Emmanuel,

is that BEEB that you pointed out in the chart ?
can you please tell me when the day starts-close in your opinion relative to GMT , or what you are using on your platform ?
Thanks
  • #22,504
  • Jul 29, 2013 5:45am Jul 29, 2013 5:45am
Quoting evilmechy
{quote} You missed the entry point by 2 candles. You should have entered on the close of the first red candle. According to the rules of TMS, you should only enter on the first or second candle. Good luck trading

thanks bro,
no wonder i incurred a small loss anyway. didnt hit my tp and i wasnt monitoring it. thank God the stop loss was small
i am the lord that giveth thee power to create wealth.
  • #22,505
  • Jul 29, 2013 5:59am Jul 29, 2013 5:59am
any proper setups?
i am the lord that giveth thee power to create wealth.
  • #22,506
  • Jul 29, 2013 6:25am Jul 29, 2013 6:25am
Quoting geomoon
{quote} Hi Emmanuel, is that BEEB that you pointed out in the chart ? can you please tell me when the day starts-close in your opinion relative to GMT , or what you are using on your platform ? Thanks
geomoon,

please post your H1 chart so that I can have a look where your day start is.
i use GMT+0 chartt.
thanks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,507
  • Jul 29, 2013 6:27am Jul 29, 2013 6:27am
AU resistance 0.9250 historical MN S&R....

with 2 tradings days to end of month.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,508
  • Jul 29, 2013 6:27am Jul 29, 2013 6:27am
Quoting emmanuel7788
JPY pairs: Last week was heavy selling, especially on Thursday and Friday. Any buying today is counter to the strong down flow. Take and run is best until we see a higher TF bullish setup. Trade with care!

For like how many pips do you go for when you counter scalp in a trend like this?
  • #22,509
  • Jul 29, 2013 6:34am Jul 29, 2013 6:34am
Quoting emmanuel7788
{quote} geomoon, please post your H1 chart so that I can have a look where your day start is. i use GMT+0 chartt. thanks.
Hi,
thanks for the fast response ,my day starts +3GMT , but it seems that I need to consider the day open-close is better based on 0 GMT just like yours,right ?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 92 KB
  • #22,510
  • Jul 29, 2013 6:42am Jul 29, 2013 6:42am
g'day all, i'm new to trading forex, so please be gentle with me. was put on to this thread by a mate who reads it and uses it regularly. i don't yet understand anything of the terms , however with your help i will. i am only interested in learning one method to start with, and i have chosen this one as brett suggested it.
  • #22,511
  • Jul 29, 2013 6:48am Jul 29, 2013 6:48am
Quoting emmanuel7788
{quote} go to MN and see if you see 0.9250. we are few days to end of month. ... that is MN historical resistance. back to H1 intraday, we look at price reaction at low TF support and resistance. so we can take any H1 PA setup. but if higher TF show a potential for a upside breakout, we take some risk even when we see low TF resistance. but there is no potential breakout on H1 nor D1. so based on H1 intraday, there are Prev W high and Prev D above which can be target exits .
Thank you Emmanuel.
  • #22,512
  • Jul 29, 2013 6:59am Jul 29, 2013 6:59am
Quoting dalytec
{quote} For like how many pips do you go for when you counter scalp in a trend like this?

usually such quick scalp trades should only last 2 H1 candles so we are looking at 20 ~ 30 pips ... today I did not see any good CT scalp for EJ as NY sunday open continued with selling. .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,513
  • Jul 29, 2013 7:02am Jul 29, 2013 7:02am
Quoting mastersm
Sell the usdjpy now and make 30pips
Hi mastersm
I wonder if you know what your name should have been? 30 pips man
  • #22,514
  • Jul 29, 2013 7:10am Jul 29, 2013 7:10am
Quoting emmanuel7788
{quote} usually such quick scalp trades should only last 2 H1 candles so we are looking at 20 ~ 30 pips ... today I did not see any good CT scalp for EJ as NY sunday open continued with selling. .
From the 4h outlook of UJ and EJ, they seem to be trading the same direction except that the UJ is having a bit drawback than the EJ which yet cannot give 20 pips easily. What do you think?
  • #22,515
  • Jul 29, 2013 7:45am Jul 29, 2013 7:45am
GU H4 pin bar, anyone caught that?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,516
  • Jul 29, 2013 9:27am Jul 29, 2013 9:27am
GU 29 Jul H1 trade NYO:
Took this trade seeing a H4 Pin Bar.
Trade now at Be with partial exit +30pips.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 29 Jul h1 trade BE 29-7-2013 10-04-07 PM.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,517
  • Jul 29, 2013 9:30am Jul 29, 2013 9:30am
Market is pro-USD ...

selling AU,EU,GU and NU.
buying UJ, UChf, UCad....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,518
  • Jul 29, 2013 9:36am Jul 29, 2013 9:36am
Quoting Axiom
{quote} Thank you Emmanuel.

Did you take that trade? re-test of 0.9250
Attached Image (click to enlarge)
Click to Enlarge Name: AU 29 Jul H1 trade NYO 29-7-2013 10-38-30 PM.png Size: 43 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #22,519
  • Jul 29, 2013 9:40am Jul 29, 2013 9:40am
Have been watcing EA today. Fake range brake out, rejected at previous day high, retest the upper range and finally broke the range out. From 5M to 4H, trend was up. Stopped out when it retested the inner range.
By the way, anyone use 60 sma here? I see this is useful as much as 200 ema in any TF.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #22,520
  • Jul 29, 2013 9:48am Jul 29, 2013 9:48am
Quoting heispark
Have been watcing EA today. Fake range brake out, rejected at previous day high, retest the upper range and finally broke the range out. From 5M to 4H, trend was up. Stopped out when it retested the inner range.

it was a clear 4H buy since Tokyo 2nd -half session with base formed.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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