Trading Made Simple

Quoting Imi

Disliked

I took one trade today on eu, entered in asia session on LTF m5, before H1 gave a proper signal with TDI cross. I had a small 8 pip drawdown. Decision was based on Daily chart shown here, my target was a bit higher at the 50%fib confluence with adr high but PA stalled at 1.3540 creating double top candles on H1, therefore I exited the trade manually for +47 pips. If I get a continuation signal after retracement I'll reenter. {image} {image}

Ignored

Quoting tenmilewalk

Disliked

Thank you emmanuel for your advice. The master candle is something I did not see. Time for a little bit of hindsight analysis. Looking at the price today during the later hours of new york, would it have been reasonable to enter a short around 20:00 21:00? Resistance formed at daily high with several indecisive candles for 6-7 hours and a break of the Tdi trendline. What reasons do you guys see to take/not take a short trade here? {image}

Ignored

Quoting tenmilewalk

Disliked

Thank you emmanuel for your advice. The master candle is something I did not see. Time for a little bit of hindsight analysis. Looking at the price today during the later hours of new york, would it have been reasonable to enter a short around 20:00 21:00? Resistance formed at daily high with several indecisive candles for 6-7 hours and a break of the Tdi trendline. What reasons do you guys see to take/not take a short trade here? {image}

Ignored

Quoting tenmilewalk

Disliked

Thank you emmanuel for your advice. The master candle is something I did not see. Time for a little bit of hindsight analysis. Looking at the price today during the later hours of new york, would it have been reasonable to enter a short around 20:00 21:00? Resistance formed at daily high with several indecisive candles for 6-7 hours and a break of the Tdi trendline. What reasons do you guys see to take/not take a short trade here? {image}

Ignored

Quoting Imi

Disliked

I took one trade today on eu, entered in asia session on LTF m5, before H1 gave a proper signal with TDI cross. I had a small 8 pip drawdown. Decision was based on Daily chart shown here, my target was a bit higher at the 50%fib confluence with adr high but PA stalled at 1.3540 creating double top candles on H1, therefore I exited the trade manually for +47 pips. If I get a continuation signal after retracement I'll reenter. {image} {image}

Ignored

Quoting emmanuel7788

Disliked

{quote} Hi LFN, That candle high-low shows one inside bar and later several smaller candles within its high-low. A small master candle and this can provide a potential breakout trade. The real price bar shows long upper and lower wicks with small body. Some consider this as indecision of the market. With the week closed, we look at the MN and W1 to see where the most nearby historical price swing levels are. There is one W1 S&R and one MN S&R which will be in play near where the current market price is. A few intermediate S&R which we must manage...

Ignored

Quoting Phx62

Disliked

{quote} tenmilewalk...attached is my chart for the day showing my trades and reasons for the trades. Hope that helps answer your question. {image}

Ignored

Quoting emmanuel7788

Disliked

{quote} tenmilewalk, one of my rule is not to chase after long price candle. so that gmt 2000 candle is a NO-GO. that gmt1900 candle was a good one. Why? if you see the open and close, that is the reason. Reasosn to take/or not to take a trade: here is what I do: 1) have a few clear trade setups in my trade plan. Limit myself to not more than 5 types of trade setups. 2) use real price bar in background of the APB/HA, I based my trade entries using real price bar. 3) have just a few clear rules when not to take a trade setup. anything more than 3...

Ignored

Quoting manoj_3986

Disliked

Hi Emmanuel, I have just taken sell order on EURJPY due to TDI setup and stock confirms the same. Looking for some retrenchment. Please give your feedback for the same. Thanks Manoj {image}

Ignored

Quoting emmanuel7788

Disliked

{quote} Hi Manoj, I don't see your real price bar on the APB/HA.... select Bar Chart on your MT4 menu, this will show the real price open and close in background of the APB/HA. Thanks. regards, EMMANUEL see chart below: 1314308

Ignored

Quoting manoj_3986

Disliked

{quote} Please find attached. {image}

Ignored

Quoting emmanuel7788

Disliked

{quote} Manoj, Thanks for re-posting your chart. yes, I see that red vertical line you marked and that is a TDI bounce and pointing in the 4-6 clock direction. Seen above also PA is toppisch and TDI in the region above 68-level. IMO, a valid TMS setup entry. There is dynamic resistance using H4 10EMA, so I feel good about this trade. Price reacts at every RN 00,25,50 and 75 levels. So we need to manage our trades and not fear when price pullback a little and threaten our entry and SL. I would place my initial SL above the toppisch candles i.e. above...

Ignored

Quoting tenmilewalk

Disliked

{quote} phx, thank you for the slides. I am glad that I noticed the divergence, the 25 pip trade and the target to reach tp at LO like you did. One thing I would do differently would be to take the LO long trade, because I probably wouldnt have remembered to factor in the divergence. Can you explain why you took the asian session trade though? Was it because of the previous divergence along with the tdi crossingunder the mbl? Thanks a lot

Ignored

Quoting allisonmagic

Disliked

{quote} Well, a " system " isn't personal at all. You are following guidelines of the creator. If you have done thousands of hours of backtesting, forward testing then you will know what to do and you will recognize profitable systems without even using them. this is my point. I've done several dozen thousand hours of trading, and i know good system's when i see them. if you want to get personal about it, you will have to modify the system to fit your trading style

Ignored