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  • #28,901
  • Jan 10, 2014 9:32am Jan 10, 2014 9:32am
Quoting Imi
I took +50 pips on ej today after the news, entered 15min. after, on the retracement. Much better than yesterday when I entered the same trade as lastingwell and PHx62, the same spot but was called away so let the trade manager to take care of it, only I forgot to set the tp back to 50 pips, which would've been hit, few hours later I found my trade back to BE. {image} {image}

Excellent trade Imi

Very bad luck yesterday though, at least you didn't come back to a loss, there is that to be thankful for
  • #28,902
  • Jan 10, 2014 9:38am Jan 10, 2014 9:38am
Quoting irishtoffy
{quote} I took this EY H4 Buy trade earlier in the week, on what I thought was a MC BO and ending of the range. It turned in to a nice loser! The reasons I entered were: TDI bounce, Green & Red had crossed Yellow MBL, Red was clearly sloping up, Price made a HH and broke recent range plus broke above R levels from 18-20 December, I entered after close of 1st blue CS showing good upthrust and on open of 2nd CS I waited for it to break above previous CS high to show momentum. Is there any reason this trade was not a good entry that would stop me entering...

irishtoffy:

This is a good example where we need to identify the market type to trade.
The previous week was a strong move down. We should expect to see a pause - like correction or retracement before the continuation or a reversal. But market went sideways after that H4 MC.

Some MC breakout will fail like this trade example. MC breakout are usually good when the breakout is in the same direction of the prevailing trend i.e. a continuation trade.

Attached Image (click to enlarge)
Click to Enlarge Name: irishtoffy EJ H4 trade post.png Size: 205 KB


regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,903
  • Jan 10, 2014 9:44am Jan 10, 2014 9:44am
Quoting Imi
I took +50 pips on ej today after the news, entered 15min. after, on the retracement. Much better than yesterday when I entered the same trade as lastingwell and PHx62, the same spot but was called away so let the trade manager to take care of it, only I forgot to set the tp back to 50 pips, which would've been hit, few hours later I found my trade back to BE. {image} {image}

Imi:

Good trade. Congrats!

I took the LO H1 setup while we were discussing the PA in this thread.
Just my 'set and forget' trade with 50pips SL and 50pips TP.

Attached Image


regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,904
  • Jan 10, 2014 9:50am Jan 10, 2014 9:50am
Quoting emmanuel7788
{quote} Imi: Good trade. Congrats! I took the LO H1 setup while we were discussing the PA in this thread. Just my 'set and forget' trade with 50pips SL and 50pips TP. {image} regards, EMMANUEL

I assume it was tiny lots compared to your normal size or you're in the gambling mood today.
  • #28,905
  • Edited 10:07am Jan 10, 2014 9:51am | Edited 10:07am
Quoting Helanka
{quote} Dear Emmanuel, FO candle have wick on Both side.so pl advise me that FO candle was a Valid Pull back reversal candle? I enter my last trade when TDI green cross MBL.the trade still running but opposite direction. pls advise me if my entry time is incorrect. Also could you pls share you APB/with 5 period average Indicator. Thanks, Helanka {image}

Helanka:

If you have followed the discussion here in realtime, look at this chart below. It was 15 mins into LO and that LO candle was only 15 mins and not close.
Would you pull the trigger seeing that LO candle at GMT0815?


Attached Image


With hindsight, some will say yes but that LO candle was doubtful at that time. I mention the FO candle which was a spinning top and that pullback was in question.

Regarding the APB/HA indicator, please wait till end next week when my team member is back from his vacation. He own that so I need his consent. I'll PM you.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,906
  • Jan 10, 2014 9:53am Jan 10, 2014 9:53am
Quoting lastingwell
{quote} Sorry irishtoffy you said what you thought was a MC BO, forgive me but I can't see a MC in your image?

Ok I see it now, but the trade was far too late for the BO and for all the reasons fxfox.mb stated.
  • #28,907
  • Jan 10, 2014 10:02am Jan 10, 2014 10:02am
Quoting fxFox.mb
{quote} irishtoffy, on your chart, you entered quite late for H4 - this was your candle #3. As you may see on my chart (gmt+1) you entered after the H1 already went up with 9 blue candles directly on the weekly pivot point in combination with the monthly pivot point you draw the guppies on your chart but didn't used them for entry dectection/support. Even if the short term guppies are in an ongoing rotation, the long term point down / sideways.So this seems to be a retracement move and you entered at the top. If I would have waited for a bounce...
Hi Fox,


I was aware I entered on candle 3, but I am trying to look past only TDI and give more weight to PASR. Which I thought this MC BO was!

Would the H1 chart already having 9 blue CS make you reconsider a H4 trade in the same direction then?

I waited until price moved above both long and short term guppys. I knew it was a risky trade in that respect as guppys were 'hugging'each other and moving sideways.

I don't use pivot levels to be honest. I like to draw the levels of S/R at weekends so I can try to get a feel for whats going on. I will add some Pivot Indi this weekend and check the chart out with them on it. Do you have an Indi you would recommend?

irishtoffy
  • #28,908
  • Jan 10, 2014 10:06am Jan 10, 2014 10:06am
Quoting lastingwell
{quote} I assume it was tiny lots compared to your normal size or you're in the gambling mood today.

you can assume both ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,909
  • Jan 10, 2014 10:12am Jan 10, 2014 10:12am
I took this EJ trade on the news pullback (+46 pips) No other trades for today. Looking forward to things settling down starting next week.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ110.png Size: 70 KB
  • #28,910
  • Jan 10, 2014 10:16am Jan 10, 2014 10:16am
Quoting lastingwell
{quote} Sorry irishtoffy you said what you thought was a MC BO, forgive me but I can't see a MC in your image?
Hi Lastingwell,

I marked the H4 MC on the chart attached to this post!
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh4.png Size: 50 KB
  • #28,911
  • Jan 10, 2014 10:20am Jan 10, 2014 10:20am
Quoting emmanuel7788
{quote} irishtoffy: This is a good example where we need to identify the market type to trade. The previous week was a strong move down. We should expect to see a pause - like correction or retracement before the continuation or a reversal. But market went sideways after that H4 MC. Some MC breakout will fail like this trade example. MC breakout are usually good when the breakout is in the same direction of the prevailing trend i.e. a continuation trade. {image} regards, EMMANUEL
Emmanuel,


So the HH still wouldn't be enough to break the strong down move from previous week and make you look for buys then?
  • #28,912
  • Jan 10, 2014 10:23am Jan 10, 2014 10:23am
Quoting irishtoffy
{quote} Hi Lastingwell, I marked the H4 MC on the chart attached to this post! {image}

Yes I posted afterwards that I could see it but that imo it was far too late for a mc bo, it was at least 40 pips higher than the top of the MC from what I can see on the chart.
  • #28,913
  • Jan 10, 2014 10:37am Jan 10, 2014 10:37am
Quoting lastingwell
{quote} Yes I posted afterwards that I could see it but that imo it was far too late for a mc bo, it was at least 40 pips higher than the top of the MC from what I can see on the chart.
Sorry I seen that after I posted again!

When the MC BO, would you enter as soon as it breaks the top of the MC? As opposed to waiting for that CS to close?

I waited for the BO CS to close, and in hindsight I see if I had entered at the BO of 142.67-70, I would have had the opportunity to move SL to BE using the JSL EA.
  • #28,914
  • Jan 10, 2014 10:44am Jan 10, 2014 10:44am
airbeat can you share that colour changing moving average type indicator? looks like a nice setup in conjunction with the synergy pro

Quoting airbeat
I took this EJ trade on the news pullback (+46 pips) No other trades for today. Looking forward to things settling down starting next week.{image}
  • #28,915
  • Jan 10, 2014 1:25pm Jan 10, 2014 1:25pm
Quoting emmanuel7788
{quote} Imi: Good trade. Congrats! I took the LO H1 setup while we were discussing the PA in this thread. Just my 'set and forget' trade with 50pips SL and 50pips TP. {image} regards, EMMANUEL
Wow! You didn't get taken out with the whipsaw... I assume you took it into account? Or is this how you normally trade... 1:1, either tp or sl, without securing b/e after X pips? I havent seen you take a lot of H1 setups, so you got me curious.
  • #28,916
  • Jan 10, 2014 2:07pm Jan 10, 2014 2:07pm
Quoting blamshakk
airbeat can you share that colour changing moving average type indicator? looks like a nice setup in conjunction with the synergy pro {quote}
Here ya go.
Attached File(s)
File Type: ex4 T3_08_2Color.ex4   9 KB | 410 downloads
  • #28,917
  • Jan 10, 2014 2:11pm Jan 10, 2014 2:11pm
Quoting irishtoffy
{quote} Sorry I seen that after I posted again! When the MC BO, would you enter as soon as it breaks the top of the MC? As opposed to waiting for that CS to close? I waited for the BO CS to close, and in hindsight I see if I had entered at the BO of 142.67-70, I would have had the opportunity to move SL to BE using the JSL EA.

With a master candle breakout its customary to use around a 5 pip buffer so going in when it breaks 5 pips (some use 10) past the top or bottom of the master candle. I don't actually use them at all myself, but I know how they are traded.
  • #28,918
  • Edited 4:58pm Jan 10, 2014 2:53pm | Edited 4:58pm
Quoting irishtoffy
{quote} Hi Fox, I was aware I entered on candle 3, but I am trying to look past only TDI and give more weight to PASR. Which I thought this MC BO was! Would the H1 chart already having 9 blue CS make you reconsider a H4 trade in the same direction then?
irishtoffy,

no, you could not say that in general, because there are movements again and again on H1 which have a lot of more candles with the same color and a lot of potential.

This move was in the asian session and on your entry point it seems to be about 1-2 hours before LO.
The pivot points lie directly above the MC high.
The price move stopped between the monthly and the weekly pivot point.
The former move was a strong down move and as emmanuel stated followed by a consolidation, not clear if that would be all of a retracement character.
But the 38% retracement of the former down move is on the same level as the pivots are.

Quote
I waited until price moved above both long and short term guppys. I knew it was a risky trade in that respect as guppys were 'hugging'each other and moving sideways. I don't use pivot levels to be honest. I like to draw the levels of S/R at weekends so I can try to get a feel for whats going on. I will add some Pivot Indi this weekend and check the chart out with them on it. Do you have an Indi you would recommend? irishtoffy

The weekly and monthly pivots fit to the bigger trading timeframe - as the long term guppies do.

That shouldn't say that this long was a nogo, but I would have waited (if I can say this afterwards, because I don't know how I had decided on the 8th january) to enter either
- after a retracement of the hourly move around the London Open or
- if the pivots would have been broken

By the way, you have some lines arround 143.00 on your chart too. What are these?

Afterwards it is always easy to look at the chart and find a reason for or against a trade... My speciallity is sometimes to look at the chart and search for reasons why it is not good to enter, only to see afterwards that it had been a good trade. If you want to find reasons not to trade you will always find them. I've to learn and remenber this again and again

The challenge is to detect the more likely scenario.
Noone can predict the future. We only can make our evaluation and expectancy what would be the most likely way the market will go.

Just my thoughts - from a very small "trader light" who tries to get a small star at the traders sky...
fxFox (all times in my charts are GMT+1)
  • #28,919
  • Jan 10, 2014 3:57pm Jan 10, 2014 3:57pm
Quoting WDays
{quote} Wow! You didn't get taken out with the whipsaw... I assume you took it into account? Or is this how you normally trade... 1:1, either tp or sl, without securing b/e after X pips? I havent seen you take a lot of H1 setups, so you got me curious.
WDays:

what is whipsaw?

this week is warming up and trading with OPM.
set and forget with SL 50pips and TP 50pips.
I trade intraday differently.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #28,920
  • Jan 10, 2014 4:05pm Jan 10, 2014 4:05pm
Quoting irishtoffy
{quote} Emmanuel, So the HH still wouldn't be enough to break the strong down move from previous week and make you look for buys then?

Even with HH HL and LH LL type structure we see on charts, there will be some cases when there is structure failure.

Price Behaviour by Mike Baghdady is one source for reading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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