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  • #29,801
  • Jan 24, 2014 8:59am Jan 24, 2014 8:59am
hello FXFOX pls what is a PCRF do you have a place I an read more on it

Thanks




Quoting fxFox.mb
{quote} Hi Phx62, glad as usual that you provide this elaboration for us. I've a question: Because of I entered today at the PCRF long at FO - but you didn't. What prevented you to take this one long, but rather the next one short at LO? thanks fxfox EDIT: Another question - perhaps the same answer - how do you decide on PCRF whether to wait on the candle close of the 3 candle or not? {image}
  • #29,802
  • Jan 24, 2014 9:14am Jan 24, 2014 9:14am
Quoting WDays
{quote} I hope this helps. Edit: on a sidenote, there is no TDI cross to the upside. {image}
Thanks WDays,

but at time of the running candle the TDI PL was pointing up - so to say a "running cross". The cross disappeared regulalry as the candle closed...
But I know that Phx62 often anticipates a cross - but perhaps with a little more intelligence than I did it.
fxFox (all times in my charts are GMT+1)
  • #29,803
  • Jan 24, 2014 9:16am Jan 24, 2014 9:16am
Quoting fxFox.mb
{quote} Thanks WDays, but at time of the running candle the TDI PL was pointing up - so to say a "running cross". The cross disappeared regulalry as the candle closed... But I know that Phx62 often anticipates a cross - but perhaps with a little more intelligence than I did it.
Once again, it was not an ideal setup, because price had failed to break higher previously. A trendline was established overnight - the one I drew on there. It was way too close. Perhaps a long trade could have been taken upon a close at the break of that TL.
  • #29,804
  • Jan 24, 2014 9:18am Jan 24, 2014 9:18am
Quoting emmanuel7788
{quote} Hi kohilam, That's a very good trade entry with a shallow retracement of last week. With your [email protected], what was your inital SL in pips? That SL would be your R. I normally manage using R-Multiple levels. Assuming you used the last swing low as your iSL, then this trade is above the 2R level. see chart below. {image} Last week this pair made a range of 735 pips. The average is 508 pips which is volatile when we look at the Average 20 weeks 385 pips and 100 weeks 316pips. There is no ceiling for us to set our...
Thank you Emmanuel. The chart you have posted is most helpful. I moved my SL just bellow each 4 hour candle. I managed to take 364 pips as I was not around when the market went short.

There is a new short set up on this pair on the 4 hour, what are your thoughts?

Many thanks,
K
  • #29,805
  • Jan 24, 2014 11:20am Jan 24, 2014 11:20am
Hi Phx62

when your in a one hour trade,
what is it you look for on the M15 that gives you the clue to exit the H1 trade ?
an ema candle cross ? Or something like that ?

you inspire us all....

nelly
  • #29,806
  • Jan 24, 2014 11:55am Jan 24, 2014 11:55am
Here are the trades I've taken on Thursday and Friday. The first one was an impulse entry,
I saw that the breakout of the previous days range has happened in the London session, but failed to follow through(fake)
thinking again it was a move for the daily pin, entered with divergence on H1, and sharp cross down on TDI.

For the second trade I entered properly after a pullback move and added to my position. The daily pin was nicely forming
througout the day and I didn't take profit for 50 pips, but decided to let it go on.

Third trade , after the day closed with a pinbar and retraced to the 50% of that daily move I entered in Tokyo session with PCRF and TDI cross below mbl.
This morning I saw the Frankfurt boys pushed up price again for a double top hitting BE on my second trade.
I closed trade one and three when it reached the trendline on daily.
4th bonus trade was taken on M15. second chart is daily showing that trendline.
I am sorry , it's a bit messy but overall I followed price action and made the pips.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Greenshot_2014-01-24_11-39-48EJh1.png Size: 59 KB
Click to Enlarge Name: Greenshot_2014-01-24_12-22-48daily.png Size: 25 KB
If you're going through hell, keep going. Winston Churchill
  • #29,807
  • Jan 24, 2014 11:56am Jan 24, 2014 11:56am
Quoting Lane
{quote} By the way, could you explain your entry on 21. January (sell +50 pips)?
Lane,
Please notice the solid white line I placed above that trade and the previous one. There was a triple top plus 2 more candles that almost touched that line without breaking it. That indicated a downturn coming. The TDI had just pulled back from the 68 line and once the LO candle pulled back, I entered on the next candle with a TDI bounce of green off red.
  • #29,808
  • Jan 24, 2014 12:38pm Jan 24, 2014 12:38pm
Quoting fxFox.mb
{quote} Hi Phx62, glad as usual that you provide this elaboration for us. I've a question: Because of I entered today at the PCRF long at FO - but you didn't. What prevented you to take this one long, but rather the next one short at LO? thanks fxfox EDIT: Another question - perhaps the same answer - how do you decide on PCRF whether to wait on the candle close of the 3 candle or not? {image}
Lane's explanation is spot on....also, I was asleep at the Frankfurt Open and did not see it. Even if I had, I would not have taken it based on the bearish downtrend that had formed and the tendency of the London Open to create a "fake out candle" and often change direction. The London session opens at midnight my time, so I try to get a couple of hours sleep before that session opens.
As far as your question about waiting for a candle to close, there are several factors I use. Mostly I watch price action for market volume. If the PCRF occurs during a time of high volume (London session or NY session with news), I am more inclined to enter before the 3rd leg closes. If the candles are short or have long wicks, I will wait for a close below the 3rd leg. An example of this occurred this morning on the London trade. There was a long pullback on the pinbar and the LO candle immediately broke below the pinbar and the 1st leg of the PCR formation. That was enough for me to enter early. If I had entered at the close of the 3rd leg, I would have missed about 45 pips. Hope this answers your questions.
  • #29,809
  • Jan 24, 2014 12:39pm Jan 24, 2014 12:39pm
Quoting Imi
Here are the trades I've taken on Thursday and Friday. The first one was an impulse entry, I saw that the breakout of the previous days range has happened in the London session, but failed to follow through(fake) thinking again it was a move for the daily pin, entered with divergence on H1, and sharp cross down on TDI. For the second trade I entered properly after a pullback move and added to my position. The daily pin was nicely forming througout the day and I didn't take profit for 50 pips, but decided to let it go on. Third trade , after the...
Hi Imi,

I was in the same 3rd trade E/J H1 and moved my SL to BE+3 and stopped out. The price moved at least 32 pips in my direction, before I moved my SL to BE. Anyways never entered again due to work. Anyway good trading buddy. Learning a lot from you guys.

Thanks, hoperich
  • #29,810
  • Jan 24, 2014 12:42pm Jan 24, 2014 12:42pm
Quoting Nellycopter
Hi Phx62 when your in a one hour trade, what is it you look for on the M15 that gives you the clue to exit the H1 trade ? an ema candle cross ? Or something like that ? you inspire us all.... nelly
I do not use the M15 for exits. I have to see a long pullback on the H1 (depending on how many pips in profit I am) or a closed change of candle color if the candles are getting smaller.
  • #29,811
  • Jan 24, 2014 12:45pm Jan 24, 2014 12:45pm
Quoting Imi
Here are the trades I've taken on Thursday and Friday. The first one was an impulse entry, I saw that the breakout of the previous days range has happened in the London session, but failed to follow through(fake) thinking again it was a move for the daily pin, entered with divergence on H1, and sharp cross down on TDI. For the second trade I entered properly after a pullback move and added to my position. The daily pin was nicely forming througout the day and I didn't take profit for 50 pips, but decided to let it go on. Third trade , after the...
NICE TRADING IMI!!!
  • #29,812
  • Jan 24, 2014 1:37pm Jan 24, 2014 1:37pm
Quoting Phx62
{quote} NICE TRADING IMI!!!
Dear PHx62,
thank you, and yours is flawless. I have been following your trades since you started posting
your charts in Xman's thread, and when I put my head together and decided to learn the way you trade
and solely this way I must say it's been by far the most succesful way in my trading.
I really appreciate all your efforts to help us see things the way you do.
Imi
If you're going through hell, keep going. Winston Churchill
  • #29,813
  • Jan 24, 2014 3:40pm Jan 24, 2014 3:40pm
Quoting Phx62
{quote} Lane, Please notice the solid white line I placed above that trade and the previous one. There was a triple top plus 2 more candles that almost touched that line without breaking it. That indicated a downturn coming. The TDI had just pulled back from the 68 line and once the LO candle pulled back, I entered on the next candle with a TDI bounce of green off red.
Yes I saw that resistance, I was just curious why you entered so early, since it looks like you entered right after close of the blue "doji APB" along with TDI signal, and not actually waited for more bearish confirmation candle-wise. I guess more experience tells you when you can be more aggresive. Thanks for your answer.
  • #29,814
  • Jan 24, 2014 5:15pm Jan 24, 2014 5:15pm
Market is closed so I am getting bored and want to have some fun.

EJ ... the perfect set up

Attached Image (click to enlarge)
Click to Enlarge Name: EJ the perfect set up.png Size: 85 KB


or for some, they were set up by the market (stop hunting).

But the fact is and you should ask yourself: what were you looking for and did you pay more attention to what you look for on your charts.

Hindsight is 20:20 vision, therefore when we scroll back to history charts, everything looks so nice and clean, and we tell ourselves that it is simple so we can trade this and make money.

Have a Good Weekend.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,815
  • Jan 24, 2014 5:42pm Jan 24, 2014 5:42pm
I'm a Newbie...and trying to follow everything. Do any of you pros post in real time so it would make it easier to follow. Love what I have seen so far, but to live it in real time would be a big help.

Thanks
Las Vegas.
  • #29,816
  • Jan 24, 2014 9:03pm Jan 24, 2014 9:03pm
Trade taken at 5AM EST today. Closed midday. Hope everyone caught some of the big moves today.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4_1-24-2014_WEB.png Size: 41 KB
  • #29,817
  • Jan 25, 2014 12:06am Jan 25, 2014 12:06am
Quoting emmanuel7788
Market is closed so I am getting bored and want to have some fun. EJ ... the perfect set up {image} or for some, they were set up by the market (stop hunting). But the fact is and you should ask yourself: what were you looking for and did you pay more attention to what you look for on your charts. Hindsight is 20:20 vision, therefore when we scroll back to history charts, everything looks so nice and clean, and we tell ourselves that it is simple so we can trade this and make money. Have a Good Weekend. EMMANUEL
Good day Emmanuel,

Yes, yesterday was a very interesting day. EJ and GU both moving well.
Can I ask, what are the little bird like icons on your chart about, they look good?

cheers

Mark up
Make sure that the light at the end of the tunnel is not an on coming train
  • #29,818
  • Jan 25, 2014 1:26am Jan 25, 2014 1:26am
Quoting Mark up
{quote} Good day Emmanuel, Yes, yesterday was a very interesting day. EJ and GU both moving well. Can I ask, what are the little bird like icons on your chart about, they look good? cheers Mark up
Hi Mark Up,


By looking at them, I think they are an indicator for showing IB, BUEB and Pin Bars. They seem to follow that pattern, and use a small icon to show them.

Maybe Emmanuel will come along soon and confirm or reject my thoughts!


irishtoffy
  • #29,819
  • Jan 25, 2014 1:57am Jan 25, 2014 1:57am
Quoting irishtoffy
{quote} Hi Mark Up, By looking at them, I think they are an indicator for showing IB, BUEB and Pin Bars. They seem to follow that pattern, and use a small icon to show them. Maybe Emmanuel will come along soon and confirm or reject my thoughts! irishtoffy

Thanks for that Irishtoffy,

good stuff, if you are correct.

cheers

Mark up.
Make sure that the light at the end of the tunnel is not an on coming train
  • #29,820
  • Jan 25, 2014 2:29am Jan 25, 2014 2:29am
Quoting Mark up
{quote} Thanks for that Irishtoffy, good stuff, if you are correct. cheers Mark up.

But Irishtoffy,

Its Saturday as Emmanuel stated, Maybe it might be some thought provoking artwork, mmmmmmmm.
Idle hands and all that stuff.


Mark up.
Make sure that the light at the end of the tunnel is not an on coming train
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