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Trading Made Simple

  • #30,481
  • Feb 6, 2014 6:29pm Feb 6, 2014 6:29pm
AU week 06 update:

This week we saw a strong rally of 228 pips from the week open 0.8753 and already made w new week range of 252pips. The average week range is 200pips.

On the weekly chart, we see a W1 IB breakout with possible resistance above.
D chart show losing bullish momentum for 2 days but the move up is still intact.
H4 shows sign of consolidation before the big news today. We are in a range of the master candle.
Congested area for those playing with 10EMAs.

Since it is Friday, not a good idea to open any new 4H swing trades and also today is US NFP. Tigthen stops and maye full exit today before NFP will be a safe thing to do.

Attached Image (click to enlarge)
Click to Enlarge Name: AU week 06 7 Feb view update.png Size: 60 KB


Trade Well.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,482
  • Feb 6, 2014 6:41pm Feb 6, 2014 6:41pm
@Agk007.

AUDUSD daily is in a very strong down trend. It never makes higher high PLUS it's right below Very Big Round Number 0.90000. I seriously doubt it will go higher.

Anyway, NFP is today. It could push the pair in any direction. We'll see.

Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-07_0738.png Size: 23 KB
Everything you can imagine, is real - Pablo Picasso
  • #30,483
  • Edited 6:57pm Feb 6, 2014 6:43pm | Edited 6:57pm
Quoting emmanuel7788
EU practice 6 Feb. Here we have a D chart entry following previous bull candle and a TDI cross. But price currently retracing. H4 we see a master candle. H1 and M15 we see the ratracement. Intraday buy entry is possible but we must wait since there is key news event later today. There are risks for this trade. As traders, we need to mitigate these risks. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: Eu 6 Feb D chart entry.png Size: 55 KB


EU 7 Feb update:

Our D chart entry played out yesterday helped by weaker US data. Today is US NFP, and should the date trun out lower than the forecast, we may hit our 150pips target for this week 4H swing. Let's manage this well. I added one postion during the retrecement and had scaled out some positons yesterday and try to reduce the overl risk.
The knee jerk reaction to the NFP data will be violent so learn to stay away from that.

Trade Well.

EMMANUEL

add chart for D trades:

Attached Image (click to enlarge)
Click to Enlarge Name: EU D trades week 06.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,484
  • Feb 6, 2014 6:49pm Feb 6, 2014 6:49pm
Quoting Direwolf
@Agk007. AUDUSD daily is in a very strong down trend. It never makes higher high PLUS it's right below Very Big Round Number 0.90000. I seriously doubt it will go higher. Anyway, NFP is today. It could push the pair in any direction. We'll see. {image}
Yes, good overall longer term view shows the AU is on a down trend.

But this week we have China bank holidays and also due to very poor performace in most Asian stock markets we see investors buying Aussie.
The game will change next week after today' NFP and the outlook fo the US economy and China PMI data.
Longer term is to sell the rallies.

Trade Safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,485
  • Feb 6, 2014 7:16pm Feb 6, 2014 7:16pm
EA 7 Feb Day Pin Bar entry example:

Attached Image (click to enlarge)
Click to Enlarge Name: EA 7 Feb Pin Bar entry.png Size: 67 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,486
  • Feb 6, 2014 7:59pm Feb 6, 2014 7:59pm
Quoting Direwolf
@Agk007. AUDUSD daily is in a very strong down trend. It never makes higher high PLUS it's right below Very Big Round Number 0.90000. I seriously doubt it will go higher. Anyway, NFP is today. It could push the pair in any direction. We'll see. {image}
Thanks Direwolf, i did notice the round number. If you look at my TP thats where i set it to, i didn't think it would go up that much. It was a counter trend trade for sure. I probably should stick with the trend though until i get better.
  • #30,487
  • Feb 6, 2014 8:35pm Feb 6, 2014 8:35pm
Quoting Imi
{quote} closed for +90pips {image}
Amazing trades buddy. Thanks for sharing the charts and comments.

Hoperich
  • #30,488
  • Feb 6, 2014 8:41pm Feb 6, 2014 8:41pm
Quoting attilafx
Here is my current position. {image}

thanks for your information!
  • #30,489
  • Feb 7, 2014 1:39am Feb 7, 2014 1:39am
[quote=omonisha;7264868]{quote} This video may help http://www.youtube.com/watch?v=FOu44yEv444[/qu

OMONISHA THANK YOU SO SO VERY MUCH IT NOW WORKING FINE ALL MY INDICATORS ARE OPENING THANKS A MILLLIION GREATFUL ALSO LIKE TO THANK EMMANUEL I APPRECIATE
  • #30,490
  • Feb 7, 2014 1:42am Feb 7, 2014 1:42am
Quoting imi
i also went long on gj this morning ,on the break above consolidation, currently at +70 entry, now sl at be . (orange line) {image}
imi i love your trading style it so simple to see.please how do you know that you have to go long from there is this a 1hr entry or 15 mins entry
  • #30,491
  • Feb 7, 2014 1:48am Feb 7, 2014 1:48am
Quick 2 pin bar trades on EJ M15 for a total of 14 pips (8 down, 6 up).

Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-07_1445_.png Size: 34 KB
Everything you can imagine, is real - Pablo Picasso
  • #30,492
  • Feb 7, 2014 3:56am Feb 7, 2014 3:56am
GU 7 Feb LO+2hr:

UK data weaker than forecast, GU price spike down to 1.6300 and now push back higher ...

so it will be interesting what the US NFP will bring and we shall see how the weekly candle will close.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,493
  • Feb 7, 2014 5:47am Feb 7, 2014 5:47am
Hey,

Does anyone know the new file destination the preset files (.SET) for MPTM EA should be saved in under the new V600 rebuild of MT4?

I don't see any 'preset' folder at all in my new MT4 files like on the previous version, although everything else (indi, TPL, scripts) seem to have copied over fine in to the new versions folders, the EA .SET files have disappeared.

Thanks

irishtoffy
  • #30,494
  • Feb 7, 2014 5:50am Feb 7, 2014 5:50am
Quoting irishtoffy
Hey, Does anyone know the new file destination the preset files (.SET) for MPTM EA should be saved in under the new V600 rebuild of MT4? I don't see any 'preset' folder at all in my new MT4 files like on the previous version, although everything else (indi, TPL, scripts) seem to have copied over fine in to the new versions folders, the EA .SET files have disappeared. Thanks irishtoffy
Hi,

Just do a save of another file set. and see (look) where it is saved by searching your windows.

Then copy back into that directory your original Set files.

take care
  • #30,495
  • Feb 7, 2014 6:00am Feb 7, 2014 6:00am
Quoting Helee
{quote} Hi, Just do a save of another file set. and see (look) where it is saved by searching your windows. Then copy back into that directory your original Set files. take care

Thanks Helee,

I have mine saved in the new MQL4/Preset folder...

it has been a disaster week with this new MT4 Build 600 auto update.

regards,

EMAMNUEL
Attached Image (click to enlarge)
Click to Enlarge Name: MT4 new folder MQL4.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,496
  • Feb 7, 2014 6:07am Feb 7, 2014 6:07am
Quoting Helee
{quote} Hi, Just do a save of another file set. and see (look) where it is saved by searching your windows. Then copy back into that directory your original Set files. take care
That is what worries me..I see only 3 folders within the new experts file: Include; Indicators; Scripts.

In the Expert folder the MPTM file itself is there but not in a folder.

I tried saving a new .SET file but can't find it anywhere when in windows explorer!

C:\Users\Windows 8\AppData\Roaming\MetaQuotes\Terminal\BB190E062770E27C3E79391AB0D1A117\MQL4\Presets

This is the destination MT4 tries to save a new Set file in to
  • #30,497
  • Feb 7, 2014 6:11am Feb 7, 2014 6:11am
I reverted my old settings back and am now refusing the update every time it prompts me.

I had the old version of my broker which did not update for some reason on my laptop, when I installed it on my PC I just copied the entire thing from my laptop and pasted it over the fresh install. Everything works fine so long as I do not reupdate it...
  • #30,498
  • Feb 7, 2014 6:15am Feb 7, 2014 6:15am
Quoting WDays
I reverted my old settings back and am now refusing the update every time it prompts me. I had the old version of my broker which did not update for some reason on my laptop, when I installed it on my PC I just copied the entire thing from my laptop and pasted it over the fresh install. Everything works fine so long as I do not reupdate it...
I did that every time I got the prompt also..until today...

I just tried finding the destination I posted above in my windows explorer and its not there..doesn't seem to exist as far as windows is concerned. Very strange
  • #30,499
  • Feb 7, 2014 6:19am Feb 7, 2014 6:19am
Quoting irishtoffy
{quote} That is what worries me..I see only 3 folders within the new experts file: Include; Indicators; Scripts. In the Expert folder the MPTM file itself is there but not in a folder. I tried saving a new .SET file but can't find it anywhere when in windows explorer! C:\Users\Windows 8\AppData\Roaming\MetaQuotes\Terminal\BB190E062770E27C3E79391AB0D1A117\MQL4\Presets This is the destination MT4 tries to save a new Set file in to
Yes,
saved it there.. on windows 8 is a bit different form win7... goes into Users directory... that is correct.
  • #30,500
  • Feb 7, 2014 6:26am Feb 7, 2014 6:26am
Quoting emmanuel7788
{quote} Thanks Helee, I have mine saved in the new MQL4/Preset folder... it has been a disaster week with this new MT4 Build 600 auto update. regards, EMAMNUEL {image}

Thx Emamneul,

lol.. i installed the new Rel600 on a Windows 8 Server (similar\same to Win8) and everything worked fine, we just have to find where the right directories are..

My disaster has been on pips..

take care
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