JP, I suggest you try various values for EMAs to find which one is for you best. Also whether 5 or 15 mins TF. For me I was trying various pivots: standard , fibonacci, different start to calculate. I got rid of them. prefer round numbers like 50 and 100 instead.
Psych Levels, Pivots, and Trendlines - Resurrected
- #8,742
- Oct 21, 2013 7:17am Oct 21, 2013 7:17am
JP, I suggest you try various values for EMAs to find which one is for you best. Also whether 5 or 15 mins TF. For me I was trying various pivots: standard , fibonacci, different start to calculate. I got rid of them. prefer round numbers like 50 and 100 instead.
Noting that EU is oscillating between Central Pivot line and S1
now seems to be breaking from S1.. lets see..
- #8,743
- Oct 23, 2013 1:35am Oct 23, 2013 1:35am
Experts,
I have 2Q.. so asking you experienced guys
Q1
====
How to make a guess on whether a particular day, a pair( lets say EU) is going to be having a nice movement ? Or is going to choppy ?
From EV updates, I can see one way to check whether movement is happening or not, is by looking at the gap between the 2 MA lines, the wider the lines, better to take a trade.
In a trending market, chances are higher that profitable trades can be made, but when the market is choppy, unnecessary trades lead to losses.
Q2
===
How you guys decide, whether to keep sitting in front of computer looking at small TF like 5/15 minute charts or decide to take a break and be away from it
Thanks for any insight...
Cheers!!
Praveen
I have 2Q.. so asking you experienced guys
Q1
====
How to make a guess on whether a particular day, a pair( lets say EU) is going to be having a nice movement ? Or is going to choppy ?
From EV updates, I can see one way to check whether movement is happening or not, is by looking at the gap between the 2 MA lines, the wider the lines, better to take a trade.
In a trending market, chances are higher that profitable trades can be made, but when the market is choppy, unnecessary trades lead to losses.
Q2
===
How you guys decide, whether to keep sitting in front of computer looking at small TF like 5/15 minute charts or decide to take a break and be away from it
Thanks for any insight...
Cheers!!
Praveen
- #8,744
- Oct 23, 2013 3:03am Oct 23, 2013 3:03am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Experts, I have 2Q.. so asking you experienced guys
Hello, JP.
The main reason I have MAs is for trend direction. However, they do come in very useful as S/R points as well. As for guessing what a particular day will bring.............. All you can do is wait and see how things pan out. If your charts are showing a choppy period, then stay out of any trades and do something else. All you can do after that is keep checking things out on a semi-regular basis, and watching for any hint of a new trend starting. Watch where price is in relation to whatever S/R lines you're using (pivots, psych-numbers etc.) and watch for break-outs. Keep in mind that the area between MS1 and MR1
- #8,745
- Oct 23, 2013 3:08am Oct 23, 2013 3:08am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Sorry about the sudden stop to my last post. Got distracted and hit the wrong key! 
"Keep in mind that the area between MS1 and MR1 is viewed as the "chop" zone, and a lot of traders stay away from trading until price breaks out of said zone. Hope this helps.
"Keep in mind that the area between MS1 and MR1 is viewed as the "chop" zone, and a lot of traders stay away from trading until price breaks out of said zone. Hope this helps.
- #8,746
- Oct 23, 2013 3:31am Oct 23, 2013 3:31am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m UJ.......
Working with Fib pivots here. After a quite dramatic fall, price then retraced up to S3 in the MA zone. A long-legged doji formed, indicating indecision, before resuming the move southwards. Entry and exit as shown.
Working with Fib pivots here. After a quite dramatic fall, price then retraced up to S3 in the MA zone. A long-legged doji formed, indicating indecision, before resuming the move southwards. Entry and exit as shown.
- #8,750
- Oct 24, 2013 2:05am Oct 24, 2013 2:05am
My First Trade based on little understanding gained from EV trades
EU 5 Min Trade
Price Breaking Out of Coiling Inside Bars Of the Mother Bar
MA Begins to widen
Trade taken Post Crossing of Yesterday High Break
EU 5 Min Trade
Price Breaking Out of Coiling Inside Bars Of the Mother Bar
MA Begins to widen
Trade taken Post Crossing of Yesterday High Break
- #8,751
- Oct 24, 2013 3:13am Oct 24, 2013 3:13am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
My First Trade based on little understanding gained from EV trades
No problems there, JP, and thanks for the charts.
May I ask if you can adjust your charts as follows? Click "properties" - Click "Common" - Tick "Show OHLC". That'll give us the info regarding your OHLC and Time Frame in the top left corner of your chart.
Thanks in advance, mate.
- #8,753
- Oct 24, 2013 3:29am Oct 24, 2013 3:29am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
AU M5 Price Under Free Fall MA Line widening A Stutter Trade taken When Price moving down past low of stutter SL moved to BE TP at Yesterday Low Or early close depending on candle formation {image}
- #8,755
- Oct 24, 2013 3:52am Oct 24, 2013 3:52am
- Joined Jan 2010 | Status: Trader | 2,021 Posts
My First Trade based on little understanding gained from EV trades
- #8,756
- Oct 24, 2013 5:19am Oct 24, 2013 5:19am
EU M5
Nice Long Mother Bar Formed above YHigh
Price Retraced to YHigh
Inside Bars Formation happened
MA Widening started
Trade taken at Break of MB
SL taken to BE
TP at R3 .. lets see if price reaches that point
Nice Long Mother Bar Formed above YHigh
Price Retraced to YHigh
Inside Bars Formation happened
MA Widening started
Trade taken at Break of MB
SL taken to BE
TP at R3 .. lets see if price reaches that point
- #8,757
- Oct 24, 2013 7:05am Oct 24, 2013 7:05am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
EU M5 Nice Long Mother Bar Formed above YHigh Price Retraced to YHigh Inside Bars Formation happened MA Widening started Trade taken at Break of MB SL taken to BE TP at R3 .. lets see if price reaches that point
I see you also mention Inside Bars later on in your post. If you're going to use Bar terminology, then use Bar charts. It's very confusing for other traders when they see a Candlestick chart with the trade described in Bar terminology, especially when one isn't quite "up to speed" with bar charts, having rarely used them. If you're going to continue using Candlestick charts, then please stick to Candlestick terminology.Makes life a little easier for everyone.
- #8,758
- Oct 24, 2013 7:39am Oct 24, 2013 7:39am
{quote} JP, would you kindly tell me what a Mother Bar is?
My knowledge is not complete in itself
Just using the terminology that I am learning from here and there.. Slowly I shall start using the terms as used in this Forum..Bar basically is a Candle only.
Mother Bar is the Mother Candle within whose Range are formed thereafter Inside Candles. These Inside Candles have their range not going out of Mother Candle.
Now, What I am doing is to trade in the Direction of Trend, when the Price moves out from the Mother Candle.
Shall Use the term Mother/Inside Candle inside of Bar for others to easily understand the same.
- #8,759
- Oct 24, 2013 8:03am Oct 24, 2013 8:03am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} EV, My knowledge is not complete in itself
OK, JP, fair enough. Candlesticks and their different patterns do have their own names stemming from the Japanese language, and aren't difficult to learn. There's so many websites out there which will teach you all you need to know about all the different candlesticks and patterns. Believe me, if I can learn them, anyone can!!
- #8,760
- Oct 24, 2013 8:19am Oct 24, 2013 8:19am
{quote} OK, JP, fair enough. Candlesticks and their different patterns do have their own names stemming from the Japanese language, and aren't difficult to learn. There's so many websites out there which will teach you all you need to know about all the different candlesticks and patterns. Believe me, if I can learn them, anyone can!!