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Trading Made Simple

  • #29,361
  • Jan 17, 2014 12:46am Jan 17, 2014 12:46am
Quoting emmanuel7788
A new charting toy for multi-timeframe lovers. {image} who wants this?

I take my Q number!
  • #29,362
  • Jan 17, 2014 12:46am Jan 17, 2014 12:46am
Quoting emmanuel7788
A new charting toy for multi-timeframe lovers. {image} who wants this?
Can use M5 as main chart?
福 子 Victor V
  • #29,363
  • Jan 17, 2014 12:48am Jan 17, 2014 12:48am
Quoting camvcvoo
{quote} Can use M5 as main chart?
yes, you can have up to six small chart below using the MT4 charts from M1, M5 ,,... to MN
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,364
  • Jan 17, 2014 1:22am Jan 17, 2014 1:22am
Hi, All !
please attach these indicators ( MTF HA and MTF TDI). thanks.
  • #29,365
  • Jan 17, 2014 1:22am Jan 17, 2014 1:22am
Quoting emmanuel7788
A new charting toy for multi-timeframe lovers. {image} who wants this?


I would LOVE to have this !
Take what the market gives you.
  • #29,366
  • Jan 17, 2014 1:22am Jan 17, 2014 1:22am
Hi Emmanuel,

can an you explain to us, having a multi time frame indicator showing, especially a lower time frames than your trading time frame,
how to know to stay in the trade when the lower time frame changes colour and begins pulling back,
I know PHX 62 trades the 1hr with the 15m & h4 open at either side of his h1 chart, but I have found myself in and out of a trade like a yo yo.....
i understand that the lower time frames breath faster than the higher, but my question is to you and to PHX 62 .....
how far do you let the 15m chart pull back before you exit the h1 trade, ???
i am still having success at the end of the day but probably need to learn how to sit on my hands ???

regards

nelly
  • #29,367
  • Jan 17, 2014 1:24am Jan 17, 2014 1:24am
Quoting emmanuel7788
EJ 17 Jan potential for a TOK_5H breakout. Today would see a high probability breakout using the TOK_5H range. See that Master Candle? It would be rare to see EJ remain is such narrow range of 33pips. So let's all try grab some pips. {image} Remember the way Phx62 trades this pair. Now it is up to you to practise using those many trade examples he shared in this thread. Trade Well! EMMANUEL
Would you wait for a close above or below, before entering, or just a break? Thanks.
  • #29,368
  • Jan 17, 2014 1:35am Jan 17, 2014 1:35am
Quoting emmanuel7788
{quote} yes, you can have up to six small chart below using the MT4 charts from M1, M5 ,,... to MN
R u attaching the template with the indicators involved?
福 子 Victor V
  • #29,369
  • Jan 17, 2014 1:52am Jan 17, 2014 1:52am
Quoting murali
{quote} Would you wait for a close above or below, before entering, or just a break? Thanks.

I want to see the overall price action. Then I want to see a H1 breaks and close below the low or close above the high.
The TOK_5H range is 33 pips, so the initial SL can be 33pips or take the last swing high or swing low.
If there are previous APB/HA without wicks, I would place the initial SL using 2 bars look back.

Look at H4 condition and pick a bias.

Remember, those trades posted by Phx62, he made some very good observations about how EJ behaves after London open. Have those observations in mind.
Then have your Plan A and when that fails, activate Plan B.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,370
  • Jan 17, 2014 1:57am Jan 17, 2014 1:57am
we are seeing a very bearish Frankie candle now...

Edit:
Add chart with LO now.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ 17 Jan FO candle.png Size: 31 KB


why did FO stop ? ... see my previous charts . The near term support 141.84...!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,371
  • Jan 17, 2014 2:21am Jan 17, 2014 2:21am
Quoting Nellycopter
Hi Emmanuel, can an you explain to us, having a multi time frame indicator showing, especially a lower time frames than your trading time frame, how to know to stay in the trade when the lower time frame changes colour and begins pulling back, I know PHX 62 trades the 1hr with the 15m & h4 open at either side of his h1 chart, but I have found myself in and out of a trade like a yo yo..... i understand that the lower time frames breath faster than the higher, but my question is to you and to PHX 62 ..... how far do you let the 15m chart pull back...

Nelly,

There is no generic answer to this question. There is always the element of fear when we have open trades to manage.
It is all about market volatility and that shows in the candle size.
The best way to discuss this is to post and chart example and I'll try explain each different scenario on the charts.

The APB/HA is very good to use for managing trade exits. Pay attention to the APB/HA open and see the real price move using the APB/HA candle.
That will help people learn to use the APB/HA.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,372
  • Jan 17, 2014 2:22am Jan 17, 2014 2:22am
Quoting emmanuel7788
we are seeing a very bearish Frankie candle now... Edit: Add chart with LO now. {image} why did FO stop ? ... see my previous charts . The near term support 141.84...!

i would sell from 50 retracement of this candle.
  • #29,373
  • Jan 17, 2014 2:33am Jan 17, 2014 2:33am
Quoting liviuady
{quote} i would sell from 50 retracement of this candle.

... exactly. that's what I call Fib38/50 entry.



Edit: To break 141.84 support, we need a piledriver candle.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,374
  • Jan 17, 2014 2:43am Jan 17, 2014 2:43am
Thanks Emmanuel ,

i will ill reload my trades onto the chart and post, I removed the arrows as couldn't see the candles ....

will you you be posting the indicator you mention ?
  • #29,375
  • Jan 17, 2014 3:04am Jan 17, 2014 3:04am
Quoting emmanuel7788
{quote} ... exactly. that's what I call Fib38/50 entry. Edit: To break 141.84 support, we need a piledriver candle.

Hi emmanuel7788,

is it possible to look at it this way ?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 81 KB
  • #29,376
  • Jan 17, 2014 3:13am Jan 17, 2014 3:13am
Quoting emmanuel7788
A new charting toy for multi-timeframe lovers. {image} who wants this?
Nice tool - Even if MT4 is not my main platform, but MT4 is much more adaptable. This tool would give a good overview over a pair. If you're able to share it, it would be great.
fxFox (all times in my charts are GMT+1)
  • #29,377
  • Jan 17, 2014 3:17am Jan 17, 2014 3:17am
Quoting geomoon
{quote} Hi emmanuel7788, is it possible to look at it this way ? {image}

Hi geomoon,

usually for a double top, we need to see price rally up then form high, then decline and rally to another high to the same level of the first high.
In this EJ chart, there was on significant rally upwards.
But I can see price is toppisch with the Asian High.
In fact when we zoom out on M15, we see triple tops.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ M15 triple tops.png Size: 26 KB



Right now with Tokyo closed, we still do not see signs of strong sellers yet.
That 141.84 level still holding.
H4 TDi is going flat....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,378
  • Jan 17, 2014 3:21am Jan 17, 2014 3:21am
Quoting emmanuel7788
{quote} Hi geomoon, usually for a double top, we need to see price rally up then form high, then decline and rally to another high to the same level of the first high. In this EJ chart, there was on significant rally upwards. But I can see price is toppisch with the Asian High. In fact when we zoom out on M15, we see triple tops. Right now with Tokyo closed, we still do not see signs of strong sellers yet. That 141.84 level still holding. H4 TDi is going flat....
exactly , I was actually looking at 15M and then zoomed out to see it like this.
Thanks
  • #29,379
  • Jan 17, 2014 3:21am Jan 17, 2014 3:21am
Quoting emmanuel7788
{quote}When I trade breakouts, I prefer to wait for the breakout candle to close to confirm the breakout. This is an important condition because we often see the candle pull back at the last few minutes or seconds. In that post#21,196, that was H4 example. That was a good example how price pulled back when that H4 candle closed. If I enter before that H4 candle closes, I need to see price momentum and breaking any near term (very recent) support and resistance. I also must mitigate the fact that I may not get a good price entry. I can then enter...
Hi Emmanuel, really appreciate your input on this.

Can I check with you on the quoted above.

Q3. I was actually talking about entering upon the breakout of the range vs entering after the candle closes (confirming the breakout). My concern is that the latter might actually move 20++ pips until the close which may actually be a late entry, or the next candle may start to pull back.

What exactly do you mean by momentum when breaking out of the range?

Q4.
I saw the link for the bearish/bullish engulfing bars, was actually referring to your BUEB (http://www.forexfactory.com/attachme...5&d=1389795965) where the candle doesn't totally engulf the previous candle (lower wick). Shouldn't the engulfing candle (body+wick) totally engulf the previous candle (body+wick)?

Hoping to get my head straight on this. Thanks so much Emmamuel!
  • #29,380
  • Jan 17, 2014 3:23am Jan 17, 2014 3:23am
Quoting geomoon
{quote} Hi emmanuel7788, is it possible to look at it this way ? {image}
geomoon,

I am in this trade because for my "fxfox"-"phx62"-indication, the FO cangle gets red and the inside bar, but was some pips too late entering the trade (I was a little distracted...)

But because of there are no more sellers, and a lack of momentum to the downside, I decided to close 2/3 of the position by +5 pips and let give a chance, secured by a small stop loss above the "insidebar"-trade entry, so that if I will be stopped out it's is still a break even trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-17 10.15 GMT+1 EURJPY.png Size: 179 KB
fxFox (all times in my charts are GMT+1)
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