Disliked{quote} There a several reasons: 1. Rules of TMS, as outlined by Big E, are that we enter on the 1st or 2nd candle following a TDI cross over and change of candle color. If I were going to enter short, it would have 2 candles before London following the blue pullback candle pattern, a change of candle color and a cross of the TDI. Based on this scenario, there was no short entry around LO. That entry point had occurred two or three candles earlier. 2. I had also marked the AB leg of a possible ABCD pattern and the LO candle retraced to the 50 fib....Ignored
- #26,483
- Oct 17, 2013 2:20am Oct 17, 2013 2:20am
- Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,089 Posts
I have a question about order positions something like below (from forexlive.com). How do I read this? Does this mean currently we have strong clustered resistance over 1.6025 in GU? and better not shoot BUY? Anyone find this useful in your decision making?
Simplicity is the ultimate sophistication - Leonardo da Vinci
- #26,487
- Oct 17, 2013 3:39am Oct 17, 2013 3:39am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
Did anyone catch any moves? The market is crazy.. through your experience is it better to stay out ?missed the breakout
- #26,488
- Oct 17, 2013 3:46am Oct 17, 2013 3:46am
{quote} Yes, in hindsight staying out is what I should have done >.>
I entered EJ on the sharp pull back doji, i thought sellers were pushing it downwards and TDI opened and it was under RN.
GJ i think i entered late.. what do you think based on the charts now .. hmmm
- #26,489
- Oct 17, 2013 3:54am Oct 17, 2013 3:54am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
{quote} You entered too? I entered GJ and EJ.. mistake, should have stayed out.. got hit by SL.. maybe should retire for today
- #26,490
- Oct 17, 2013 3:59am Oct 17, 2013 3:59am
{quote} I entered short after the huge spike up. Price just wasn't ready to move anywhere and it annoyed me, so I exited as price moved its range a little higher. -5 to -10 became -12 to -17, and it pissed me off so I just aborted trade once it went too high. I don't regret my decision to exit, but I regret my decision to enter; there was no reason whatsoever for any trade at all on EJ this morning. EU gave a good long setup, GU was okay too.
what you think about the idea?
- #26,493
- Oct 17, 2013 4:13am Oct 17, 2013 4:13am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
{quote} EU, GU, AU and UJ gave the classic phx62 break.. should have set sell stop for all 4 at the asian session line.. hmmm.. maybe can try that next time
Also the Frankfurt candle on EU/GU/UJ was a fakeout, didn't even need to wait for a break, simply entering at LO with a SL below the FF candle would have been enough
- #26,495
- Oct 17, 2013 4:23am Oct 17, 2013 4:23am
{quote} All the pairs that you mentioned are dollar crosses, fundamentally the dollar seems to be weaker right now. It's losing ground against other majors. I haven't checked gold, but it should be rallying too right now. Any dollar cross you would have bought, would have brought profit. Also the Frankfurt candle on EU/GU/UJ was a fakeout, didn't even need to wait for a break, simply entering at LO with a SL below the FF candle would have been enough
The candle that you have showed is 1 hour before ff open.. The opening of ff should be on the big candle where it launched? Let me know if i got the timing wrong, cause i was counting backwords from the timing counter
But the candle before that the TDI was clean and nice
- #26,496
- Oct 17, 2013 4:31am Oct 17, 2013 4:31am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
Hi phx62, i'm a bit confused concerning opening a trade on LO. following your advices, i noticed too that a lot of time it can be a fakeout so i try to stay out of the market in that our and wait to set the session high or low. Aniway i noticed also that some times, in your previous posts you took some trades on that time hour. Can i ask wich confirmation steps you need to enter the market on that time? For example, strong trend during asian session, closed candle that confirm direction, ecc. thanks a lot.
The first, price has been going since early morning or even since late night without signs of exhaustion. LO provides the momentum to thrust prices further.
The second, if price has been moving but the last few candles before LO have long wicks, meaning rejection and exhaustion of the move...
Have a look at EJ for the past 2 weeks, the trades posted here by PHX.
{quote} Hey Wdays, The candle that you have showed is 1 hour before ff open.. The opening of ff should be on the big candle where it launched? But the candle before that the TDI was clean and nice
- #26,497
- Oct 17, 2013 4:47am Oct 17, 2013 4:47am
{quote} Not PHX, but see my above post, also phx has said many times that price would seldom reverse without consolidation. To put it bluntly, there are a couple of scenarios during which a london open trade is in order: The first, price has been going since early morning or even since late night without signs of exhaustion. LO provides the momentum to thrust prices further. The second, if price has been moving but the last few candles before LO have long wicks, meaning rejection and exhaustion of the move... Have a look at EJ for the past 2 weeks,...
for my broker the red line is where 7am GMT is FF open
Does EJ looks like its gonna drop
lets wait and see! i set a sell stop under the asian support
- #26,498
- Oct 17, 2013 5:06am Oct 17, 2013 5:06am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
{quote} hmm weird indeed.. when i counted my bars for 7am GMT my broker shows me this.. very weird indeed for my broker the red line is where 7am GMT is FF open {image} Does EJ looks like its gonna drop
- #26,500
- Oct 17, 2013 5:09am Oct 17, 2013 5:09am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
{quote} Thanks for the help