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  • #30,281
  • Feb 3, 2014 5:22am Feb 3, 2014 5:22am
EJ H1 3 Feb POMO:


Here is a quick post-mortem of EJ H1 today.

We see a TOK_5H narrow range of ~ 32pips, this is a good condition to trade the breakout.

We are usually careful taking trades before LO, hence there are risks.

The LO fakey as I pointed out early post above, is something which we must take precaution when LO.

Now after Tokyo closed, we see a nice 3-bars bearish reversal setup which also break below the TOK_5H Low. That's a nice setup with small SL.

For those who have day job in working in the office and do not have the luxury to look at charts every hour, the TOK_5H is one way to look for trades. Once we see a narrow range less than 40 pips, we prepare to trade the breakout move. This will give a R:R 1:1.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ 3 Feb H1 TOK_5H and LO fakey.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,282
  • Feb 3, 2014 5:38am Feb 3, 2014 5:38am
Quoting pipsit
{quote} Hello Emmanuel , Considering the strong down trend would you go short on a 15 min pattern only or do you wait for a 1 h reversal pattern for it ?
Hi pipsit,

I look for trade setups in H4 and D only.

Using H1 and M15 is to get into the market with a better entry price which will give me a much smaller initial SL.

In the case of EU right now, I look back at the last huge H4 candle high-low and look for a Fib 38/50 entry near that level. There is a most recent reistance seen on D chart at 1.3526. I would go down to M15 and use the PAC to get sell entry there at the next opportunity.

Attached Image (click to enlarge)
Click to Enlarge Name: EU H1 Fib 38 50 entry waiting.png Size: 63 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EU 3 Feb M15 pre-NYO.png Size: 65 KB


Hope is this helps.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,283
  • Feb 3, 2014 6:01am Feb 3, 2014 6:01am
GU H1 3 Feb pre-NYO:

NYO in about 1 hour, now you see on H1 price pause with a nrIB at 1.6325 another common RN level.

The problem here is using the APB/HA candles, these conceal the real price barso you may not see the H1 nrIB.

We shall see if NY to break lower or bounce.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,284
  • Feb 3, 2014 6:08am Feb 3, 2014 6:08am
Quoting redfan
this look ok my frist one this week {image}
out of this one now get ready to sell at 0.8258
Attached Image (click to enlarge)
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  • #30,285
  • Feb 3, 2014 6:11am Feb 3, 2014 6:11am
EU example using M15 entry:

Attached Image (click to enlarge)
Click to Enlarge Name: EU 3 Feb M15 entry.png Size: 53 KB


Risk is NYO in 60mins
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,286
  • Feb 3, 2014 6:15am Feb 3, 2014 6:15am
Quoting redfan
{quote} out of this one now get ready to sell at 0.8258 {image}
Good one redfan.
Take and run is good thing to do....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,287
  • Feb 3, 2014 6:19am Feb 3, 2014 6:19am
EU ... M15 you should know where to exit before you enter .... that's your job as a trader .

Attached Image (click to enlarge)
Click to Enlarge Name: EU M15 3 Feb Exits.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,288
  • Feb 3, 2014 6:19am Feb 3, 2014 6:19am
Could this be a potential short if TDI crosses red down? The previous blue candle failed to reach the high of the last.
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  • #30,289
  • Feb 3, 2014 6:28am Feb 3, 2014 6:28am
Quoting kiranizzle
Could this be a potential short if TDI crosses red down? The previous blue candle failed to reach the high of the last. {image}
Which pair is this? Which Timeframe?
  • #30,290
  • Feb 3, 2014 6:32am Feb 3, 2014 6:32am
Sorry I can't believe I forgot to mention these details. Its the EUR/USD, 1 hour time frame. Upon further analysis, this could be a retracement leg.
  • #30,291
  • Feb 3, 2014 6:40am Feb 3, 2014 6:40am
Quoting kiranizzle
Sorry I can't believe I forgot to mention these details. Its the EUR/USD, 1 hour time frame. Upon further analysis, this could be a retracement leg.
The move up is most likely a correction. If you zoom out, you will notice the daily trendline (which by the way I also posted a few posts ago) being broken. My longer term bias is short for another 60-70 pips before I can think of a reversal. But like Emmanuel said earlier, you can always scalp it using H1 and <H1

On the other hand I dont understand why EU is the weapon of choice for a lot of you guys
  • #30,292
  • Feb 3, 2014 6:42am Feb 3, 2014 6:42am
I got thrown off last night on EJ, took a 28 pip sl
Attached Image (click to enlarge)
Click to Enlarge Name: EJH1.png Size: 52 KB
  • #30,293
  • Feb 3, 2014 6:49am Feb 3, 2014 6:49am
in at 0.8258
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  • #30,294
  • Feb 3, 2014 6:55am Feb 3, 2014 6:55am
Quoting WDays
{quote} The move up is most likely a correction. If you zoom out, you will notice the daily trendline (which by the way I also posted a few posts ago) being broken. My longer term bias is short for another 60-70 pips before I can think of a reversal. But like Emmanuel said earlier, you can always scalp it using H1 and <H1 On the other hand I dont understand why EU is the weapon of choice for a lot of you guys
Thanks for the insight. Having read the PDF's compiled for PHX62, I think I want to fully focus my attention to a single pair and really learn how it works, although I'm sure there probably are better pairs out there
  • #30,295
  • Feb 3, 2014 6:58am Feb 3, 2014 6:58am
What do you think about this? Entered short EUR AUD h4 on 200 ema break + tdi bounce...
Attached Image (click to enlarge)
Click to Enlarge Name: euraudh4.png Size: 42 KB
  • #30,296
  • Feb 3, 2014 7:08am Feb 3, 2014 7:08am
Quoting emmanuel7788
EU ... M15 you should know where to exit before you enter .... that's your job as a trader . {image}
Attached Image (click to enlarge)
Click to Enlarge Name: EU M15 3 Feb Exits.png Size: 44 KB


Update below:
This trade would have given you +13pips already. or you can BE and fight on. Scaling out is a good way, it give you some profits and you fight the markt with trade at BE.

If you waited for price to break below the PAC, your entry will be later few pips later.

Now we shall see what NYO traders will do.

Attached Image (click to enlarge)
Click to Enlarge Name: EU M15 3 Feb Exits update1.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,297
  • Feb 3, 2014 7:47am Feb 3, 2014 7:47am
Quoting emmanuel7788
{quote} Hi paazoka, There is another indicator which shows the open positions. Here is the download link: http://codebase.mql4.com/9033 Try if that is what you look for. regards, EMMANUEL
thank you
  • #30,298
  • Feb 3, 2014 8:00am Feb 3, 2014 8:00am
Quoting Valentinik87
What do you think about this? Entered short EUR AUD h4 on 200 ema break + tdi bounce... {image}
Hi Valentinik87,

I took a look at the MN and W1 charts and I see a good trade oppotunity for this month.
When we are trading H4, we must consider the volatility of this pair and know where to place our stop loss.

Manage your trade well.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,299
  • Feb 3, 2014 8:05am Feb 3, 2014 8:05am
Quoting emmanuel7788
EJ H1 3 Feb POMO: Here is a quick post-mortem of EJ H1 today. We see a TOK_5H narrow range of ~ 32pips, this is a good condition to trade the breakout. We are usually careful taking trades before LO, hence there are risks. The LO fakey as I pointed out early post above, is something which we must take precaution when LO. Now after Tokyo closed, we see a nice 3-bars bearish reversal setup which also break below the TOK_5H Low. That's a nice setup with small SL. For those who have day job in working in the office and do not have the luxury to look...
Dear emmanuel7788;

I entered at the white vector after the break of the low of the prev candle and the break of the prev weekly low and the stop was 30 pip upper!
the green crossed the red and yellow! but it blow the stop!
What was wrong!?
Attached Image (click to enlarge)
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  • #30,300
  • Feb 3, 2014 8:08am Feb 3, 2014 8:08am
Quoting farhad10
{quote} Dear emmanuel7788; I entered at the white vector after the break of the low of the prev candle and the break of the prev weekly low and the stop was 30 pip upper! the green crossed the red and yellow! but it blow the stop! What was wrong!? {image}
Not every setup is a setup... What type of market are you trading?
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