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  • #23,341
  • Edited 6:52am Aug 15, 2013 6:37am | Edited 6:52am
Out of both 4h trades, USD/CAD at BE and USD/JPY -35 pips. Entered EJ long 1H at 130.210, and AU short .91562

EDIT: AU was an impulse trade I have no reasons for taking it other than a very steep TDI angle, probably got in too late also.
  • #23,342
  • Aug 15, 2013 6:54am Aug 15, 2013 6:54am
PA is king.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy!h1.png Size: 41 KB
Persian Gulf forever
  • #23,343
  • Aug 15, 2013 7:04am Aug 15, 2013 7:04am
Quoting parsfx
PA is king. {image}
Nice trade!
Trade what you see .
  • #23,344
  • Aug 15, 2013 7:17am Aug 15, 2013 7:17am
Quoting parsfx
PA is king. {image}
Hi Parsfx,

Great trade! Could you tell me what the purple line is that the PA bounced off?

Isit the 200 EMA? Also did you take the trade on the 1st or 2nd blue candle, as I would I have taken it on the second, after confirmation of a higher low, its a bit conservative and risk averse I suppose and compared to your entry.

Thanks!
  • #23,345
  • Aug 15, 2013 7:55am Aug 15, 2013 7:55am
Quoting Sicarius
Out of both 4h trades, USD/CAD at BE and USD/JPY -35 pips. Entered EJ long 1H at 130.210, and AU short .91562 EDIT: AU was an impulse trade I have no reasons for taking it other than a very steep TDI angle, probably got in too late also.
nice trades
Trade what you see .
  • #23,346
  • Aug 15, 2013 8:18am Aug 15, 2013 8:18am
Quoting kingdomk
{quote} Hi Parsfx, Great trade! Could you tell me what the purple line is that the PA bounced off? Isit the 200 EMA? Also did you take the trade on the 1st or 2nd blue candle, as I would I have taken it on the second, after confirmation of a higher low, its a bit conservative and risk averse I suppose and compared to your entry. Thanks!

Looks like H1 EMA 200. I agree with you, I took it at the second candle too. Looks kind of aggressive to me.
  • #23,347
  • Aug 15, 2013 8:22am Aug 15, 2013 8:22am
If current H4 candle closes red it can be (I think) a good entry for a short in GU.
There is a divergence, TDI is crossing green below red and almost yellow and price seems can't overtake last week high.
We will see.....
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  • #23,348
  • Aug 15, 2013 8:27am Aug 15, 2013 8:27am
10:00pm
USD

Philly Fed Manufacturing Index




15.6
19.8
  • #23,349
  • Aug 15, 2013 8:28am Aug 15, 2013 8:28am
Quoting tankokjian
10:00pm USD Philly Fed Manufacturing Index 15.6 19.8
everything depends on this..
  • #23,350
  • Aug 15, 2013 8:33am Aug 15, 2013 8:33am
I also picked up 50 pips un EU in what I believe is a bad trade that went good for the news.
I entered when price touched yesterday's high after playing a few hours with the 200 ema. TDI also crossed but with a poor angle and price continued to play with 200ema untill it dropped with news.
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  • #23,351
  • Aug 15, 2013 8:59am Aug 15, 2013 8:59am
Quoting parsfx
PA is king. {image}
Was this entry before the candle closed with the TDI crossed?
It seems like I am usually 1 candle late on the entry so maybe I am misunderstanding the correct entry procedures.
  • #23,352
  • Aug 15, 2013 9:26am Aug 15, 2013 9:26am
missed the EURAUD long, wasnt around when it happened. BUT, managed to sell aud somehow, still in it. AUDCAD H1
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  • #23,353
  • Aug 15, 2013 9:29am Aug 15, 2013 9:29am
Quoting Erol
{quote} What made you take profit?

Just checked it at my day job and saw price action had slowed and wanted to protect what i had since i could not monitor closely. Also Emmanuel that is my work PC and have not finished setting up properly I do have the bars colored properly on my home PC. I can just peek in on trades occasionally on my work PC.
  • #23,354
  • Aug 15, 2013 9:34am Aug 15, 2013 9:34am
Quoting kingdomk
{quote} Hi Parsfx, Great trade! Could you tell me what the purple line is that the PA bounced off? Isit the 200 EMA? Also did you take the trade on the 1st or 2nd blue candle, as I would I have taken it on the second, after confirmation of a higher low, its a bit conservative and risk averse I suppose and compared to your entry. Thanks!
purple line is 200 EMA.
I trade after confirmation of a higher low.please read and practice attach file.
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Attached File(s)
File Type: pdf PRICE ACTION.pdf   183 KB | 1,219 downloads
Persian Gulf forever
  • #23,355
  • Aug 15, 2013 9:39am Aug 15, 2013 9:39am
Quoting FXorcist
{quote} Was this entry before the candle closed with the TDI crossed? It seems like I am usually 1 candle late on the entry so maybe I am misunderstanding the correct entry procedures.
On H1 the traders take more notice of PA (as written in his post) than waiting for the tdi to actually cross and close, having said that, I would have gone in on the next candle as well
  • #23,356
  • Aug 15, 2013 10:03am Aug 15, 2013 10:03am
Quoting parsfx
{quote} purple line is 200 EMA. I trade after confirmation of a higher low.please read and practice attach file. {image} {image}
i think its better to use M15 with volatility like this
  • #23,357
  • Aug 15, 2013 10:13am Aug 15, 2013 10:13am
EJ H1 trades 15 August:

2 trades +58pips and +53pips.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #23,358
  • Aug 15, 2013 10:16am Aug 15, 2013 10:16am
Quoting Phx62
{quote} Look carefully at the two candles previous to your entry candle.....they both have very long wicks at both ends......that indicates indecision in the market. If you count the candles with long wicks at both ends from your arrow to the left edge of your chart.....
Thanks you, Phx! A valuable lesson for me... put it into brain...
  • #23,359
  • Aug 15, 2013 10:42am Aug 15, 2013 10:42am
Three trades today on EJ H1....
1st trade...BE trade....could have closed it for a few pips but I was having dinner with my family and the EA closed it at BE.
2nd trade...nice TMS trade....setup candle before LO....took trade at LO with TDI cross of green over red and the 50 line...and about to cross the MBL.
3rd trade...taken following US news releases....was away from computer at NYO or I would have entered sooner on the pullback candle....did not hit 100 pip TP...closed manually.....nice TDI green cross over red at open of the entry candle to confirm entry.
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  • #23,360
  • Aug 15, 2013 11:00am Aug 15, 2013 11:00am
Quoting Phx62
Three trades today on EJ H1.... 1st trade...BE trade....could have closed it for a few pips but I was having dinner with my family and the EA closed it at BE. 2nd trade...nice TMS trade....setup candle before LO....took trade at LO with TDI cross of green over red and the 50 line...and about to cross the MBL. 3rd trade...taken following US news releases....was away from computer at NYO or I would have entered sooner on the pullback candle....did not hit 100 pip TP...closed manually.....nice TDI green cross over red at open of the entry candle to...

Hello Phx, do you consider the previous your entry candle is a very long wicks at both ends? I mean at the second trade..
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