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Trading Made Simple

  • #30,661
  • Feb 11, 2014 4:07am Feb 11, 2014 4:07am
Harmonic Trading, Volume One: Profiting from the Natural Order of

Harmonic Trading, Volume Two: Advanced Strategies for Profiting ...
Sad i'm not trying to understand PA
  • #30,662
  • Feb 11, 2014 4:10am Feb 11, 2014 4:10am
GJ hit my TP @50 pips. Yes I copied Tigrrr's 34 EMA channel xD Seems more useful than 10EMA which I never used.

Attached Image


EJ on the other hand hit my stop @24 pips. I entered when price bounced off 140.0 on M15 without HA/TDI conformation, didn't work out.

Attached Image


Small profit today after series of loses. At least I can smile tonight.
Everything you can imagine, is real - Pablo Picasso
  • #30,663
  • Feb 11, 2014 4:14am Feb 11, 2014 4:14am
What do you think ? Is E/J going bullish over last weeks high ? H1 look good, but the TDI in the H4 TF is overbought, so i exited. Just a little profit about 10 pips.
The price is going sideways at the level of 140.00

Regards,

Fx94
Attached Image (click to enlarge)
Click to Enlarge Name: EJ.png Size: 24 KB
  • #30,664
  • Feb 11, 2014 5:10am Feb 11, 2014 5:10am
[quote=emmanuel7788;7273348]{quote} Hi TheScorpS, Haven't seen your post lately. Trust that all is going well. Yes, I do look at market harmonics being part of the wave study and analysis.

Thanks Sir for your concern, I have been away busy studying and then went on holidays. what have helped in in identifying these movements is I now look for high probability setup which in agreement with TDI crosses, from there decide best place to enter the market using ABCD movements , fibs confluence and convergence, supply demand and support and resistance areas and psychological levels ie BRN, RN

I also happened to look very closely at candlestick closing prices as I have heard you many times talk about them, sometimes its hard to find these on APB candles , and looking back and forth the Jap candles

Thanks again for your support
I Have Learned to Take Some Losses to Make Profits
  • #30,665
  • Feb 11, 2014 5:10am Feb 11, 2014 5:10am
What do you think of this one usdcad 30 min h1 and h4 all look good.
Attached Image (click to enlarge)
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  • #30,666
  • Feb 11, 2014 5:22am Feb 11, 2014 5:22am
Quoting Direwolf
Is it Scott Carney's? I think I found it on some download site.
Hi

Scott Carney book especially volume one is really all you need to get basic information about harmonic movements, there happened to be also a very good thread here on FF thats more than enough to get you started in learning about simple harmonic yet very powerful information, as powerful in scary but on the greener side of making you green pips

There you go if you are interested http://www.forexfactory.com/showthread.php?t=402253 I am my self a contributor in that thread when times allows

This book also is a very good book, I read both Scott and Trade What You See by Larry Pesavento

Good Luck
I Have Learned to Take Some Losses to Make Profits
  • #30,667
  • Feb 11, 2014 5:52am Feb 11, 2014 5:52am
Quoting omonisha
Harmonic Trading, Volume One: Profiting from the Natural Order of Harmonic Trading, Volume Two: Advanced Strategies for Profiting ...

Hi omonisha,

Thanks for this quick followup downloads. I am happy to see you become an active participant in this thread.

Folks,

read Chapter 10 ... Price Action in PRZ.

You need to have a huge arsenal of trading ideas to make it big trading with TMS.

Or you can keep it simple by replicating the way Big E traded with H4 APB candles and TDI entry and exits. Don't forget ti use broker with server time GMT+2 to see the same H4 candles like he did. Stay away when candles are small and look for consolidation, the trade the reversal or the continuation breakouts.

Trade Well.

EMMANUEL


Good Trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,668
  • Feb 11, 2014 6:08am Feb 11, 2014 6:08am
Quoting redfan
What do you think of this one usdcad 30 min h1 and h4 all look good. {image}
I think your entry was a bit on the late side I would have entered much much sooner, when APB opened red and made a few pips down...

Great setup though, one of my favorite
  • #30,669
  • Edited 6:24am Feb 11, 2014 6:12am | Edited 6:24am
Somethings which you need to observe is how support and resistance often repeat at the same TDI or RSI level.
This is one of the thing harmonics patterns can be traded with the proper use of the TDI or RSI.

Attached Image (click to enlarge)
Click to Enlarge Name: AU reversals and TDI levels.png Size: 85 KB


read Chapter 6 of Vol 2 Scott M Carney - Harmonic Trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,670
  • Feb 11, 2014 6:39am Feb 11, 2014 6:39am
Here is another example using EJ weekly.

We see Price action and Support at TDI 60 level, and now we again see Price Action at this same TDI level.

Be warned! ... more than 50% of such technical analysis condition fails.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ weekly example RSI support at 60level.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,671
  • Feb 11, 2014 6:45am Feb 11, 2014 6:45am
Here are my EU and GU trades updates:

Both trades are trailing with stops below yesterday's low.

Attached Image (click to enlarge)
Click to Enlarge Name: EU week 06 trade update2.png Size: 30 KB


EU final TP remains, just managing with trailing stops.

Attached Image (click to enlarge)
Click to Enlarge Name: GU week 06 trade update2.png Size: 34 KB


I will consider moving TP higher for GU.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,672
  • Feb 11, 2014 7:47am Feb 11, 2014 7:47am
Quoting emmanuel7788
Here are my EU and GU trades updates: Both trades are trailing with stops below yesterday's low. {image} EU final TP remains, just managing with trailing stops. {image} I will consider moving TP higher for GU.
Hello Sir
Seems to me your H4 GBPUSD and mine are not same...

is there anything wrong in my chart?
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpeg Size: 46 KB
Sad i'm not trying to understand PA
  • #30,673
  • Feb 11, 2014 8:00am Feb 11, 2014 8:00am
Quoting omonisha
{quote} Hello Sir Seems to me your H4 GBPUSD and mine are not same... is there anything wrong in my chart? {image}

You have a broker with GMT+2 server time, hence the H4 candle is not the same as mine.
I use GMT+0 server.

you have 2 H4 IB breakouts, while I have only one.... that's the trade off...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,674
  • Feb 11, 2014 8:03am Feb 11, 2014 8:03am
Quoting Fx94
What do you think ? Is E/J going bullish over last weeks high ? H1 look good, but the TDI in the H4 TF is overbought, so i exited. Just a little profit about 10 pips. The price is going sideways at the level of 140.00 Regards, Fx94 {image}

Learn not to use TDI overbought for trade exits. Price can continue rising even when the TDI is above the 68-level.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,675
  • Feb 11, 2014 8:36am Feb 11, 2014 8:36am
EJ H1.

Caught a lucky trade for 30 pips on a pull back candle. Was about to close my charts and call it a night when I saw it.

Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #30,676
  • Feb 11, 2014 9:19am Feb 11, 2014 9:19am
Quoting WDays
{quote} I think your entry was a bit on the late side I would have entered much much sooner, when APB opened red and made a few pips down... Great setup though, one of my favorite


Yes I was bit late. But I was waiting for TDI to cross
I will try to get in sooner next time
Thank for your comments.
  • #30,677
  • Feb 11, 2014 10:28am Feb 11, 2014 10:28am
Hi Folks,

Can someone suggest a default MT4 indicator that can serve as a close substitute for TDI, apart from Stochastic, in android version MT4 where custom indicators are not available.

Thanks for helping out!
POSSIBILITIES ARE INFINITE, YOU CAN ACCOMPLISH ANYTHING!
  • #30,678
  • Feb 11, 2014 5:16pm Feb 11, 2014 5:16pm
Quoting Fx94
{quote} I did one + 53 pips {image}
Hi Fx94,i have noticed i took the same trade!
Attached Image (click to enlarge)
Click to Enlarge Name: euraudh4.png Size: 31 KB
  • #30,679
  • Feb 11, 2014 5:20pm Feb 11, 2014 5:20pm
Quoting chiefwarrior
Hi Folks, Can someone suggest a default MT4 indicator that can serve as a close substitute for TDI, apart from Stochastic, in android version MT4 where custom indicators are not available. Thanks for helping out!

Hi,

You can replicate the TDI using any platform provided RSI indicator.

Here is how to do it.

How to replicate the TDI using the standard RSI indicator.

The Traders Dynamic Index aka TDI is actually 3 moving averages of the RSi data.

The default parameters are: the TDI Price Line PL green line is a SMA(2) of the RSI(period 13, Close Price). Then the TDI Trade Signal Line red line is a SMA(7) of the PL green line. The TDI Market Base Line MBL yellow line is a SMA 34 period of the PL green line.

You can replicate these using the platform’ standard RSI indicator:

Steps:

1. Create RSI in a new window. Set the parameters to Period 13 and use the Close Price, and set the color to None, this will not show the RSI line.

2. Select and drag the Moving Average indicator into the sub-window as the RSI. Set the MA period to 2, Simple, Close, color = Green, and the most important last parameter is to, Apply to = Previous Indicator's Data.

3. Select and drag the Moving Average indicator into the same sub-window as the RSI. Set the MA period to 7, Simple, Close, color = Red, and the most important last parameter is to, Apply to = Previous Indicator's Data.

4. Select and drag the Moving Average indicator into the same sub-window as the RSI. Set the MA period to 34, Simple, Close, color = Yellow, and the most important last parameter is to, Apply to = Previous Indicator's Data.

Note: all three settings must be Apply to = Previous Indicator's Data.

The above setup should now show the TDI replicated with these default parameters:

RSI_Period = 13
RSI_Price = 0
RSI_Price_Line = 2
RSI_Price_Type = 0
Trade_Signal_Line = 7
Trade_Signal_Type = 0
Market Base Line = 34
Market Base Line Type =0


Have Fun!
Attached Image (click to enlarge)
Click to Enlarge Name: TDI replicate with RSI.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,680
  • Feb 11, 2014 5:30pm Feb 11, 2014 5:30pm
Quoting redfan
{quote} Yes I was bit late. But I was waiting for TDI to cross I will try to get in sooner next time Thank for your comments.

redfan,

perhaps you can now go back in the history chart and see how you can get an earlier entry without waiting for the TDI cross.

Hint: When we see a setup in H4, we go down to H1 and look for an entry. Price Action entry will get you into the market before the TDI cross. Also look at the potential of the trade and the R:R before we decide to take it or not. Don't let good opportunity slip away.
The TDI cross is just a confirmation of the Price Action, this is why we many people will tell us that technical indiators are lagging. Nothing wrong in using lagging technical indicators because they help us in our technical analysis.

Trade Well.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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