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  • #29,761
  • Edited 6:37pm Jan 23, 2014 5:34pm | Edited 6:37pm
Quoting emmanuel7788
{quote} while waiting for the Sydney open, I saw this. {image}
Not here. Not in front of comp but

EDIT: i see it now a bit of slipage on the updated picture. Mine is a bit late though
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Daniel
  • #29,762
  • Jan 23, 2014 6:30pm Jan 23, 2014 6:30pm
Quoting emmanuel7788
{quote} while waiting for the Sydney open, I saw this. {image}
Not too sure either to see what's unusual. On M15 it's a small retracement at 200ema from a previous wave and now it continues the "mini trend" toward 141.80. But if you think there's something more to this I'd sure like to know.
  • #29,763
  • Jan 23, 2014 8:42pm Jan 23, 2014 8:42pm
E/J H1 pair is rejected from 200ema. A Blue PCRF candle in place. With no news, I think the market should hit at least H4 low at 141.000 level. Experts what you think? The price sitting at 50% fib level.
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  • #29,764
  • Jan 23, 2014 10:45pm Jan 23, 2014 10:45pm
Quoting hoperich
E/J H1 pair is rejected from 200ema. A Blue PCRF candle in place. With no news, I think the market should hit at least H4 low at 141.000 level. Experts what you think? The price sitting at 50% fib level. {image}
Not much volume or market movement....look at the 3 candles that formed the PCRF and the entry candle....all have long wicks as both ends. Also, look at the TDI....all three lines are hanging out at the 50 line....a sign of consolidation. Price may still move down but it will be slow until we get something to move the market.
  • #29,765
  • Jan 23, 2014 11:56pm Jan 23, 2014 11:56pm
AU H1 trade taken this morning when SYD open.

Continuation seen in H4 with TDI PL below MBL. with a previous IB breakout.
H1 shows a break below the historical level 0.8770 which we used for this week trading, it was support.
Ret-test of this 0.8770 and a H1 BEOB price bar and with potential of H4 Insdie Bar breakout.
H1 shows a Master Candle consolidation when this entry was taken so the breakout possibility is there following the H4 TDI direction.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,766
  • Jan 24, 2014 12:04am Jan 24, 2014 12:04am
Quoting Lane
{quote} Not too sure either to see what's unusual. On M15 it's a small retracement at 200ema from a previous wave and now it continues the "mini trend" toward 141.80. But if you think there's something more to this I'd sure like to know.

I thought it is unusual because the Sydney H1 open price is below the preious H1 close. This seldon happens in H1 and higher timeframes unless there was a market close period like weekends. These sort of candles are seen more often in lower timeframes like in M1 and M5.

That opening gap down may not be seen in other brokers. This mean my broker accepted buy orders at a lower price than the last closed. I don't think it was an ordinary buyer who can place such a huge buy limit order.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,767
  • Jan 24, 2014 12:10am Jan 24, 2014 12:10am
Hi Emmanuel,

what are those small white lines on your chart doing \ showing ?
In your AU chart above ?
Are they manually drawn for bottoms and tops ?
  • #29,768
  • Jan 24, 2014 12:13am Jan 24, 2014 12:13am
Quoting Phx62
{quote} Not much volume or market movement....look at the 3 candles that formed the PCRF and the entry candle....all have long wicks as both ends. Also, look at the TDI....all three lines are hanging out at the 50 line....a sign of consolidation. Price may still move down but it will be slow until we get something to move the market.
Thank you for your feedback Phx62. That is correct sir. The market moved in my direction but didn't hit my TP at 141.025 just above yesterday's low. I guess I need to go back to your PDF's again
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  • #29,769
  • Jan 24, 2014 12:16am Jan 24, 2014 12:16am
Emmanuel and other seasoned traders, what are your thoughts about focusing only on a single pair first, then moving onto others, compared to focusing on 3-4 others at the same time. Would you think focusing on multiple pairs allows more setups to be shown, increasing the number of practice and learning faster on PA/TDI etc, rather than waiting for a single pair to show a setup, and potentially cause overtrading in the midst of the long wait between setups?
  • #29,770
  • Jan 24, 2014 12:18am Jan 24, 2014 12:18am
Quoting Nellycopter
Hi Emmanuel, what are those small white lines on your chart doing showing ? In your AU chart above ? Are they manually drawn for bottoms and tops ?

Hi Nelly,

Those are H4 high - low drawn on the four H1 candle which make a H4 candle.

See post #16,372 for the indicator posted there.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,771
  • Jan 24, 2014 12:39am Jan 24, 2014 12:39am
Quoting emmanuel7788
{quote} I thought it is unusual because the Sydney H1 open price is below the preious H1 close. This seldon happens in H1 and higher timeframes unless there was a market close period like weekends. These sort of candles are seen more often in lower timeframes like in M1 and M5. That opening gap down may not be seen in other brokers. This mean my broker accepted buy orders at a lower price than the last closed. I don't think it was an ordinary buyer who can place such a huge buy limit order. {image}
I don't know if you're looking at a different brokers chart to what you usually look at, but IBFX closes at 22:00 every night for 3 minutes which can make a gap, looking at your chart you have the same start time to that candle that I do and thats 22:03. The next candle is then 23:03 and then it sorts itself out at 00.
  • #29,772
  • Jan 24, 2014 1:02am Jan 24, 2014 1:02am
Quoting Helanka
{quote} Dear Lastingwell, Pls see below image advise me. when we have h1 setup & in that time M5 TDI is oversold area & when h1 tdi cross h4 current candle did not change as red but it already start to move sell side. when This kind of setup happened what should I do? 1) I should enter trade or wait till m5 pullback before entering. 2) if i wait till m5 pull back which time i should enter trade. * I should wait till m5 TDI pull back & again cross or bounce our side to enter the trade. OR * I should wait till price pull back some pip and then enter...

Sorry about the delay answering Helanka, I did post a reply last night but being tired it wasn't saying what I wanted to say very well so I deleted it. When I get a cross/signal on H1 I look to M5, if it has moved a considerable way with no pullback then I will wait for one before going in, so it varies really according to what I see, but I will usually go in after the h1 signal for a sell for example on lower high/double top on m5 even if that means waiting.

Look at the trade I posted yesterday, you will see that technically it was before the H1 actually crossed, but on m5 (last chart) it had closed above its little channel, and there had been bullish divergence at the low, there had been a good step up on the h1 tdi, along with good PA and a bounce from a trendline on h1 and I didn't even look at H4 at that time because of the other factors. So what it boils down to is PA first and foremost.
  • #29,773
  • Jan 24, 2014 1:05am Jan 24, 2014 1:05am
hi.

sell eur [email protected] sl:1.3711 tp: free

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  • #29,774
  • Jan 24, 2014 2:17am Jan 24, 2014 2:17am
Good day everyone,

EU/GBP sell occuring on a H4 timeframe, red candle and tdi on the way of crossing.
Should wait for the 2nd candle for confirmation and enter.

What do you think ?
  • #29,775
  • Jan 24, 2014 2:25am Jan 24, 2014 2:25am
Quoting snshne
Good day everyone, EU/GBP sell occuring on a H4 timeframe, red candle and tdi on the way of crossing. Should wait for the 2nd candle for confirmation and enter. What do you think ?

do you know the pip value for this pair?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,776
  • Jan 24, 2014 2:30am Jan 24, 2014 2:30am
Quoting amiralifx
hi. sell eur [email protected] sl:1.3711 tp: free {image}
closed 0 pips
  • #29,777
  • Jan 24, 2014 2:51am Jan 24, 2014 2:51am
Quoting emmanuel7788
{quote} do you know the pip value for this pair?
ye, its really small
  • #29,778
  • Jan 24, 2014 3:27am Jan 24, 2014 3:27am
Quoting alfis
Emmanuel and other seasoned traders, what are your thoughts about focusing only on a single pair first, then moving onto others, compared to focusing on 3-4 others at the same time. Would you think focusing on multiple pairs allows more setups to be shown, increasing the number of practice and learning faster on PA/TDI etc, rather than waiting for a single pair to show a setup, and potentially cause overtrading in the midst of the long wait between setups?

alfis:

that depends on many factors.
are you trading intraday on H1 chart or 4H swing on H4 chart?

if we talk about intraday live trading,
then for a new trader I would safely say one currency pair should be a good start.
which pair?
you have the choice of the majors - AUDUSD, EURUSD, GBPUSD, USDCHF, USDCAD, USDJPY, pick one. which one?

forget about the EUR crosses, the GBP crosses and JPY crosses.
you need to know the trading ranges for these crosses and its pip value.

pick a currency which you are familiar with and have little emotional attachment to.
also know what move that currency pair and its USD Index component. EURUSD is the best choice.

if you are trading 4H swing, then more pairs will give your more trading opportunities.

overtrading?
with a business trading plan done properly, you cannot overtrade when you follow your trading plan with discipline.
having a trading plan is a must when you want to achieve your finanical goal. wihout one, you will be gambling every day.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,779
  • Jan 24, 2014 3:30am Jan 24, 2014 3:30am
Quoting snshne
{quote} ye, its really small
Nope, it is not. GU and EU have the same pip value with the USD as their quote currency. But Eur is below parity (0.82) to GBP. Therefore the pip value is quite high - at least it is higher compared to GU/EU etc. Consequently you want to adjust your position size when trading EG.
  • #29,780
  • Jan 24, 2014 3:31am Jan 24, 2014 3:31am
Quoting snshne
{quote} ye, its really small

EURGBP has a pip value of US$16.60 per pip.

EURUSD pip value is US$10.00 per pip.

if you lose 30 pips, the damage is quite different when you choose to trade EG over EU.

BTW, before you pick to sell on H4, have a look at the D chart.
D-chart shows a bullish engulfing candle. I wont sell today but I will buy on retracement or buy low.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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