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Trading Made Simple

  • #29,641
  • Jan 21, 2014 11:43pm Jan 21, 2014 11:43pm
Latest on what Kuroda said as the BOJ conference comes to an end.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,642
  • Jan 22, 2014 12:54am Jan 22, 2014 12:54am
E/A sell

Bullish AUD news that broke that consolildation zone. Euro was showing signs of another bearish wave, so I went short. The thing is I wasn't around so I was late, I would've entered at the yellow horizontal line (break of previous consolidation zone and news M5 candle close). So I've got 40 pips instead of 65 but that's fine. Hard TP hit after struggling a bit, dark orange line shows on left why there.

PS - don't mind that other ongoing trade, testing something on daily (on H1 it does look like a TMS bounce entry though, but still it's <32)
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  • #29,643
  • Jan 22, 2014 2:05am Jan 22, 2014 2:05am
GBPUSD H1 long +47 pips in 30 seconds - if it would be so easy everyday

Unfortunately I missed the GBPAUD continuation short this morning and EURJPY makes no efforts to show a clear price structure.
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fxFox (all times in my charts are GMT+1)
  • #29,644
  • Jan 22, 2014 2:44am Jan 22, 2014 2:44am
Hi .. This system look good, was wondering if its ok to use on lower time frames.. 15 min maybe ?
  • #29,645
  • Jan 22, 2014 2:47am Jan 22, 2014 2:47am
Quoting fxFox.mb
GBPUSD H1 long +47 pips in 30 seconds - if it would be so easy everyday
Yeah beside news I see no real trading opportunities for today. Maybe scalp long on E/U later today for a channel trade, if a good signal shows up.

E/J stuck between RN and 200ema since New Year, lately especially choppy, repeatedly hitting 140.00 below, which is a fib 38.2 on weekly, but still not showing any willingness to go up, as Emmanuel's Kuroda pic says..
  • #29,646
  • Jan 22, 2014 3:01am Jan 22, 2014 3:01am
Quoting fxFox.mb
GBPUSD H1 long +47 pips in 30 seconds - if it would be so easy everyday Unfortunately I missed the GBPAUD continuation short this morning and EURJPY makes no efforts to show a clear price structure. {image}

It is always good to be prepared after we do our WTDA or Big Picture Planning.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,647
  • Jan 22, 2014 3:04am Jan 22, 2014 3:04am
Quoting Avy25
Hi .. This system look good, was wondering if its ok to use on lower time frames.. 15 min maybe ?

Avy25:

TMS is a simple trend trading method. You can trade the trend of the moment at any time when you fully understand this picture below.

Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,648
  • Jan 22, 2014 3:09am Jan 22, 2014 3:09am
Thank you Emmanuel
  • #29,649
  • Jan 22, 2014 3:29am Jan 22, 2014 3:29am
Quoting Lane
{quote} Yeah beside news I see no real trading opportunities for today. Maybe scalp long on E/U later today for a channel trade, if a good signal shows up. E/J stuck between RN and 200ema since New Year, lately especially choppy, repeatedly hitting 140.00 below, which is a fib 38.2 on weekly, but still not showing any willingness to go up, as Emmanuel's Kuroda pic says..

There isn't any nice PA setup right now.
What I see is a H4 IB and now in H1, a likely MC when this current H1 does not close above 141.47
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,650
  • Jan 22, 2014 4:08am Jan 22, 2014 4:08am
Quoting emmanuel7788
{quote} Irishtoffy: Well, we shall let market trade in those areas you marked and look at the Price Action for our usual 4H setups. Maybe we see a D-chart setup for breakout move. Trade Well! EMMANUEL

Hi Irishtoffy,

I think your GJ plan played out well this week with that D IB breakout and continuation. Now we see 172.72 as target TP and posiible reaction.

Attached Image (click to enlarge)
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regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,651
  • Jan 22, 2014 5:17am Jan 22, 2014 5:17am
Entered e/u on second candle since the TDI changed mid way through the first (didn't set an alert for price change). I think it's a bit on the risky side since price is hovering at week's resistance. PA seemed to be picking up momentum + TDI entry so I figured it was worth a shot. What do you guys think?
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  • #29,652
  • Jan 22, 2014 5:19am Jan 22, 2014 5:19am
Setting Risk Reward Tool in MT4:

http://www.learntotradethemarket.com...Jt8jTwn4bHwtMW

Quite similar to the tool we have in this thread.

You will find those two scripts in Post #22,364.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,653
  • Jan 22, 2014 5:26am Jan 22, 2014 5:26am
Quoting fhm
Entered e/u on second candle since the TDI changed mid way through the first (didn't set an alert for price change). I think it's a bit on the risky side since price is hovering at week's resistance. PA seemed to be picking up momentum + TDI entry so I figured it was worth a shot. What do you guys think? {image}

fhm,

You couild have enter during candle#2 at the same price level as today open since this is a continuation from the previous day close.

Use the previous day Open High Low Close when you trade H1 chart timeframe.

Trade Well.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,654
  • Jan 22, 2014 5:36am Jan 22, 2014 5:36am
Quoting emmanuel7788
{quote} fhm, You couild have enter during candle#2 at the same price level as today open since this is a continuation from the previous day close. Use the previous day Open High Low Close when you trade H1 chart timeframe. Trade Well. EMMANUEL
Thanks for the tip, I'll make sure to watch out for that from now on!
  • #29,655
  • Jan 22, 2014 5:37am Jan 22, 2014 5:37am
Example of H1 Intraday entry using Previous D OHLC.

We follow the Day candle bias.
For eaxmple, we have a bullish previous D candle.
When previous day is bullish, we look entry after a retracement.
This should be confirm with a TDI cross or a 12-2.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,656
  • Jan 22, 2014 5:43am Jan 22, 2014 5:43am
There is another intraday H1 entry technique from the good old days of X-Man S3 EU H1.

It is called the Prev D Fib 127% failure reversal.

Anyone know this one?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,657
  • Jan 22, 2014 5:45am Jan 22, 2014 5:45am
Natural Support and Resistance:

What are these so called Natural Support and Resistance?

You see these on your charts every Day and every Week.

They are there, you don't need any indciators to show you.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,658
  • Jan 22, 2014 5:48am Jan 22, 2014 5:48am
EJ H4:

Anyone took that bounce off 141.17, mentioned so many times this week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,659
  • Jan 22, 2014 6:05am Jan 22, 2014 6:05am
Quoting emmanuel7788
{quote} Hi Irishtoffy, I think your GJ plan played out well this week with that D IB breakout and continuation. Now we see 172.72 as target TP and posiible reaction. {image} regards, EMMANUEL
Cheers Emmanuel, but it was a plan I failed to take advantage of as yet!

I have a question about possible entries this week on GJ H4 - do you see any possible valid entries?

I marked 2 CS with a small arrow where I thought a trade was possible but didn't take it.

The first arrow, I did not take the trade due to the previous W high and a lot of prior CS with wicks on both ends.

The 2nd arrow I didn't take the trade due to the upcoming news release on UK economy. But if I was going to enter, would it have been a good TMS trade entering on the close of the second CS marked with an arrow? Even without the news I would have been wary of entering due to the long wicks.

I am watching PA around the 173.00-173.10 which is a 2 week high. Expecting a retracement which will enable me to enter.


Regards

irishtoffy
  • #29,660
  • Jan 22, 2014 6:16am Jan 22, 2014 6:16am
Quoting irishtoffy
{quote} Cheers Emmanuel, but it was a plan I failed to take advantage of as yet! I have a question about possible entries this week on GJ H4 - do you see any possible valid entries? I marked 2 CS with a small arrow where I thought a trade was possible but didn't take it. The first arrow, I did not take the trade due to the previous W high and a lot of prior CS with wicks on both ends. The 2nd arrow I didn't take the trade due to the upcoming news release on UK economy. But if I was going to enter, would it have been a good TMS trade entering on...

It was very choppy in H1 the whole of yesterday, price swing around the Prev W high.
With a shallow retraccemt, one would be prepare for a continuation of the Prev W with target 127%.
The only clear intraday support of Mnday High around 171.50 and that provided support for an intraday entry. Also a nice PCRF with IB breakout.

Right now with NYO, no point chasing this. Wait for tomorrow retracement entry in H1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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