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Trading Made Simple for Day Charts

  • #1,901
  • Feb 9, 2014 2:43pm Feb 9, 2014 2:43pm
Quoting Britpip7
{quote} By the looks of it the Thames Valley has sunk! latest weather and flood warnings include Chertey and Shepperton, so not looking good. We have more concern over wildfires right now, although this week we have rain - hope it keeps going, California is in drought, so complete opposite of Southern England.
Crazy world weather Britpip7, i`m just finishing building an arc here. Try and keep cool in that hot weather and just to say what a great job you do on this thread, i regularly tune in on both TMS threads but am more of a reader than a writer, so just to let you know we are out here and learning! All the best, Shane.
  • #1,902
  • Feb 9, 2014 3:02pm Feb 9, 2014 3:02pm
Quoting spiritboy
{quote} Crazy world weather Britpip7, i`m just finishing building an arc here. Try and keep cool in that hot weather and just to say what a great job you do on this thread, i regularly tune in on both TMS threads but am more of a reader than a writer, so just to let you know we are out here and learning! All the best, Shane.
Thanks Shane - I know that the thread gets a lot ov views when there are new posts - I have some conflicts with work schedules at the moment, so as I have time I will post more.

Cheers - David C.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,903
  • Feb 9, 2014 3:22pm Feb 9, 2014 3:22pm
Thoughts for the week

AUD seems to be rolling over AUD/NZD is worth watching as well as GBP/AUD

GU showed a strong bull (engulfing) candle for NFP - this also saw a new colour for APB - waiting for confirmation on a TDI cross

EUR/JPY has moved 300pips after a second bull candle with the TDI cross confirmed and TSL moving higher - next price barrier if it breaks the current PA channel will be EMA23/50

EUR/CAD looking as though it may be using he EMA23 as a dynamic support - this will put in a 250 pips range back to the previous swing high - Friday's candle showed a nice change back to a bull movement - waiting to see if PA continues
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcaddaily 2-9-2013.png Size: 35 KB
Click to Enlarge Name: eurjpydaily 2-9-2014.png Size: 38 KB
Click to Enlarge Name: gbpusddaily 2-9-2014.png Size: 40 KB
Click to Enlarge Name: gbpauddaily 2-9-2014.png Size: 38 KB
Click to Enlarge Name: audnzddaily 2-9-2014.png Size: 38 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,904
  • Feb 9, 2014 3:37pm Feb 9, 2014 3:37pm
Interesting watching the gold price along with AU - Gold has been recovering and is a bout to hit a 60 price level from early Dec 2013, so it may well bounce off of this resistance point and take AU with it.

http://www.kitco.com/LFgif/au0182nyb.gif
Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily 60 day 2-9-2013.png Size: 59 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,905
  • Feb 9, 2014 3:49pm Feb 9, 2014 3:49pm
This is my top selection for starting this week - unless the opening gap screws it up

Week had a great pull back with gives momentum to the bears and still showing a strong down trend on all charts
Attached Image (click to enlarge)
Click to Enlarge Name: AUD NZD tri chart 2-9-2014.gif Size: 98 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,906
  • Feb 11, 2014 12:40pm Feb 11, 2014 12:40pm
I am in the aud/jpy since last night. gbp/nzd also.
Can anyone recommend a trade management EA? Once I place a trade I would like it to close half at a set point based on a percentage of ATR and then trail the rest based on ATR. I have seen some out there but not just like this.
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy 2-11 daily.png Size: 32 KB
  • #1,907
  • Feb 11, 2014 12:42pm Feb 11, 2014 12:42pm
hello notreally

nice trade. you can use the excellent MPTM EA for your trade management needs


Blam


Quoting notreally
I am in the aud/jpy since last night. gbp/nzd also. Can anyone recommend a trade management EA? Once I place a trade I would like it to close half at a set point based on a percentage of ATR and then trail the rest based on ATR. I have seen some out there but not just like this. Thanks {image}
  • #1,908
  • Feb 11, 2014 12:46pm Feb 11, 2014 12:46pm
Quoting blamshakk
hello notreally nice trade. you can use the excellent MPTM EA for your trade management needs Blam {quote}
Thanks, I will check into it.
  • #1,909
  • Feb 11, 2014 4:51pm Feb 11, 2014 4:51pm
Im in the following three trades...

GBP/USD...+35

EUR/JPY...+117

EUR/GBP..-2

I been in the GBP/USD trade for three days and the EUR/JPY trade for four days.The EUR/GBP i entered just now
  • #1,910
  • Feb 12, 2014 1:52pm Feb 12, 2014 1:52pm
Quoting kingclarence
Im in the following three trades... GBP/USD...+35 EUR/JPY...+117 EUR/GBP..-2 I been in the GBP/USD trade for three days and the EUR/JPY trade for four days.The EUR/GBP i entered just now
Interesting. I get the impression you trade fairly aggressively? The TSL on my gbpusd crossed 4 days ago but only just turned upwards today. The eurjpy I stayed out of because there's a resistance line from the December high that it's close to. I dropped the eurgbp chart a while ago as I had too many fails on it,

Got one on the gbpjpy yesterday. In addition to the normals, TSL turned up, it broke the 21 EMA and theres a good distance to the resistance. I think the only signal missing was the slope being under 4.5
  • #1,911
  • Feb 12, 2014 2:09pm Feb 12, 2014 2:09pm
Quoting Buttonjock
{quote} Interesting. I get the impression you trade fairly aggressively? The TSL on my gbpusd crossed 4 days ago but only just turned upwards today. The eurjpy I stayed out of because there's a resistance line from the December high that it's close to. I dropped the eurgbp chart a while ago as I had too many fails on it, Got one on the gbpjpy yesterday. In addition to the normals, TSL turned up, it broke the 21 EMA and theres a good distance to the resistance. I think the only signal missing was the slope being under 4.5
I dont think my trading is aggressive at all.If anything i toned it down a notch.I had to learn to be more patient.I just look for trades that meet my criteria thats all.By doing this i think my last series of trades have been all winners.

EUR/GBP is +100

GBP/USD is +180

Also i closed out the EUR/JPY trade for like +80 i think
  • #1,912
  • Feb 12, 2014 6:52pm Feb 12, 2014 6:52pm
good trades. can you give any details of what specific criteria you look for? im getting good trades but also bad ones

Quoting kingclarence
{quote} I dont think my trading is aggressive at all.If anything i toned it down a notch.I had to learn to be more patient.I just look for trades that meet my criteria thats all.By doing this i think my last series of trades have been all winners. EUR/GBP is +100 GBP/USD is +180 Also i closed out the EUR/JPY trade for like +80 i think
  • #1,913
  • Feb 12, 2014 7:03pm Feb 12, 2014 7:03pm
Quoting blamshakk
good trades. can you give any details of what specific criteria you look for? im getting good trades but also bad ones {quote}
I get bad ones also trust me lol.The things i loo for are....

1.Support and resistance levels....

2.Tdi cross angle.

3.Candle size

4.The first color change candle to go higher or lower than the previous two candles.Even if it includes the wick.Britpip has a name for this formation i just forgot what its called.

5.Also make sure you have a target.When my trade gets half way to my target i take out half my position and move my stop to break even.
  • #1,914
  • Feb 12, 2014 7:10pm Feb 12, 2014 7:10pm
What are people's views on the EUR/USD? Price seems to be making lower highs and lower lows on the daily chart. TDI has crossed on the latest candle with stochastic agreement. The 200 MA is leveling off but isn't in sight for another 120+ points.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB
  • #1,915
  • Feb 12, 2014 7:13pm Feb 12, 2014 7:13pm
Quoting kiranizzle
What are people's views on the EUR/USD? Price seems to be making lower highs and lower lows on the daily chart. TDI has crossed on the latest candle with stochastic agreement. The 200 MA is leveling off but isn't in sight for another 120+ points. {image}
I actually took that trade.Im down 20 pips but thats nothing.I think its gonna work so we will see
  • #1,916
  • Feb 12, 2014 7:57pm Feb 12, 2014 7:57pm
Quoting kingclarence
{quote} I actually took that trade.Im down 20 pips but thats nothing.I think its gonna work so we will see
Thanks kingclarence! Yeah it seems like a decent set up in my eyes, but I have been proven wrong before. I have been trading TMS on the lower time frames with decent accuracy, but I am hoping with the longer time frames my entries become more likely winners.
  • #1,917
  • Feb 12, 2014 8:07pm Feb 12, 2014 8:07pm
Quoting kiranizzle
{quote} Thanks kingclarence! Yeah it seems like a decent set up in my eyes, but I have been proven wrong before. I have been trading TMS on the lower time frames with decent accuracy, but I am hoping with the longer time frames my entries become more likely winners.
Not to be giving adive or anything but in my opinion forex is all about back testing.

Dont know what country your from but its kinda like american football.They spend most of their time practicing then play one game sunday.Forex is kinda like that.You backtest your butt off then trade.
  • #1,918
  • Feb 12, 2014 8:27pm Feb 12, 2014 8:27pm
Quoting kingclarence
{quote} I get bad ones also trust me lol.The things i loo for are.... 1.Support and resistance levels.... 2.Tdi cross angle. 3.Candle size 4.The first color change candle to go higher or lower than the previous two candles.Even if it includes the wick.Britpip has a name for this formation i just forgot what its called. 5.Also make sure you have a target.When my trade gets half way to my target i take out half my position and move my stop to break even.

many thanks man
  • #1,919
  • Feb 13, 2014 1:47pm Feb 13, 2014 1:47pm
Quoting kiranizzle
What are people's views on the EUR/USD? Price seems to be making lower highs and lower lows on the daily chart. TDI has crossed on the latest candle with stochastic agreement. The 200 MA is leveling off but isn't in sight for another 120+ points. {image}
I think it is still in a downtrend until it breaks the high of 24th January. It's had a lot of noise since just after Christmas. There also appears to be a pivot point around 1.37 that is causing resistance. Check this on a weekly chart as well
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.png Size: 119 KB
  • #1,920
  • Feb 14, 2014 1:33pm Feb 14, 2014 1:33pm
Ok so i lost 100 pips on the Eur/Usd lol

Gbp/Nzd is + 40 pips

Gbp/Usd is + 324 and rising

I got stopped out of the Eur/Gbp for +100 pips or so because my stop was too tight and it appears to be moving back in the right direction.Lesson learned
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