Disliked{quote} Hey FS. Which post are you referring to? Attached is one of Phillip's calculator spreadsheets but not sure if this is the one you are looking for. {file}Ignored
4 Hour Strategy (MACD)
1) Stay off the one minute charts. They don't tell you anything about the trend.
I am learning a lot (By learning, I mean screwing up badly) and I'm SOOO glad I'm learning it with demo money. I reset my demo account and started a new transaction log with the intent of reining myself back in a bit. I thought I was really starting to get it because I was seeing the TCs in the MACD, but I was completely ignoring the market rhythm in relation to the EMAs/SMAs on the main chart. I see what you mean by "It's a long long long road."
I'm gonna post my first chart here some time tomorrow when I have more time. I'm looking forward to learning more from you all as I go.
( this space reserved for something clever )
- #27,005
- Feb 18, 2014 12:50pm Feb 18, 2014 12:50pm
NZDUSD on D1 is having a nice setup at the top of the MACD wave, H4 setup isn't up to scratch as it looks more like Woolfe waves (flat-lining or going up slightly and then sharp drop). USOil/WTI is also having a decent setup on H4, likely to range between 101 & 100 before deciding on the next move. I will add charts later on, feel free to add them yourselves.
Good point on the Daily. That level at 0.8370 is pretty tuff resistance. This latest touch & pin/doji followed by strong bear candle on the Daily could possibly indicate a fall back to the 21. You got a nice RT on the daily to add some confirmation . This is purely based on the Rythym of the markets. If I jump back to the H4 chart, I can find the same sort of Rythym - price broke thru the 21 from above - came straight back to touch it exactly then started moving away. Rythym rules say it could be heading towards the 89 ( also happens to be the 21 on the daily ).
Is this what you are seeing ??
- #27,006
- Feb 18, 2014 1:01pm Feb 18, 2014 1:01pm
{quote} Can I replace this with "Don't try to watch 28 pairs at the same time or you'll miss the obvious signal in the one pair you started with." ? I totally should have seen the TC on the EURUSD, and I'm kicking myself now.
Great step there Dodge - it only gets better too. Can I suggest you start writing your RULES. Keep editing this list for 4-5 weeks until you find when & where you are successful. What market times you have available / what pairs offer the best spreads etc. I too was getting carried away with too many pairs at once - in the end , I was missing too many trades . Info Overload - bad thing. Because I am NZ , my times allow me to concentrate on USD crosses with Aussie/Kiwi/Euro & pound. These 4 charts keep me fully occupied and there is generally 2-3 trades which I can tackle each week. I am still on demo but getting very close to completing my rules ( this has been ongoing since I started on this thread so there is no shortcut I can help you with ).Keep posting & asking and the family here will certainly help where possible. Sometimes we might be unable to answer your questions but I guarantee that Phillip /Trademin & Nausting are quietly watching and they will step in when we need their help. Keep up the good work.
- #27,007
- Feb 18, 2014 1:05pm Feb 18, 2014 1:05pm
{quote} Howdy Partner - I dont do the GJ unfortunately. But still struggling along in my EU from yesterday. Your plan for the AJ to test those highs was perfect. News or not - it don't matter how it gets there , the important thing is your reading of a signal was spot on
Hey Binnie,
It's hard to keep up with the thread now, new posters, lots of charts and ideas......
You're struggling with an EU trade, they ate me alive last week, so i have changed track this week, U/J and G/U which are treating my a little kinder...there was a nice TC on the EU today, totally ignored by me as i watching the G/U....
I am checking the lowest spreads from my broker and A/U and N/U are okay at 2 pips gold is 5 pips..shocking...
So my favourites now are EU / UJ / G/U A/U and N/U for trading because of the spread...I will monitor other pairs just for experience no trades.
Happy pippin
- #27,008
- Edited 11:31pm Feb 18, 2014 1:18pm | Edited 11:31pm
{quote} Can I replace this with "Don't try to watch 28 pairs at the same time or you'll miss the obvious signal in the one pair you started with." ? I totally should have seen the TC on the EURUSD, and I'm kicking myself now.
Have you done any back testing....?
I used to like to print off charts and go over all the possible trades to learn the movements and patterns, i still do sometimes on a Sunday when i can relax and look at H4 print out, looking for TC...
No one can teach you how to learn, you have to figure that out..but in my previous post I said that i missed the same TC (EU) as i watching another currency the GBP/USD as I had targeted that from my analysis in the morning and had a trade going. I really could not do 28 pairs...crikey..that's nuts...but i remember trying to the same and failing...as Binnie said its information overload.
To be honest I am sure I only need 2 or 3 pairs to find a trade per day. But this has come with time and learning to be patient which i am still not.
You cannot do anything that we have not done before or will even do again, so keep posting, for me its like reviewing my own learning or reading my dairy.
Binnie and LaB show trades that could happen with the explanation or plan too..you should pay close attention to these and watch the trades develop, see how they can take hours/day/days.....not minutes..... You can get 3 to 5 or more 4 hour candles showing nothing but spinners (doji) in a row thats equivalent to 1 or 2 whole days and then boom a TC appears.. but you need to be anticipating that and waiting..that is it.
Happy Days
- #27,009
- Edited 2:00am Feb 19, 2014 12:02am | Edited 2:00am
{quote} Hi there Hose, Thanks for the chart buddy. I see where you are coming from with your short - Divergence, Resistance at BRN 171.00, Nice PinBar, Watching with interest for you. Might even be the start of my Plan B short setup if it can get a close below the 21ma. Expecting to see a bit of hesitation at the 21 so be careful when it gets there
thanks for your kind comment and precise attention
luckily i survived that by closing it at 170.28. still i am interested on short as you can see on the picture . to me it appears to be an expanding triangle , im expecting two scenarios , if it turns out to be a pattern that continuous the previous major Wave i will be looking for price action confirmations that make me to follow the Plan A. but if I see any strong penetration through the support zone and if i am not stopped out by then! lol i will be keeping some portions of the current trade (Plan B)
- #27,010
- Feb 19, 2014 12:11am Feb 19, 2014 12:11am
{quote} What made you trade this pair, was it only from the set up? (my broker is 5 pip spread, expensive for me, i thinks) I have put my idea on the chart which is your plan, purely as a reference for me so i can monitor and learn. I am wanting to see more TC's so i can anticipate them. {image}
It is an expensive pair to trade indeed. I would like to draw your attention to my previous post as i have explained my reasons for going short.
tnx
Cannot check charts today.. So a bit naughty and cheeky.. But have taken this trade live for a bullish move... happy pippin.. Get that TC... {image}
Here I have posted a side-by-side comparison of what I'm looking at vs. what you're looking at. It really does illustrate, at least for me, that though we try to help each other by posting charts and whatnot, we really are all on our own in this market. Not to say that we won't keep trying, eh?
( this space reserved for something clever )
- #27,017
- Feb 19, 2014 11:19pm Feb 19, 2014 11:19pm
Ok, time for my first chart... I saw the TC on the EURGBP this morning, but it wasn't really a TC until the candle was fully formed and had gone all the way up to the 89SMA, which I believe is acting as resistance. I am looking for this weeklong upward trend to continue with another TC or a ZB accompanied by a bounce off of the trendline I drew there, possibly breaking through the 89SMA towards the 200SMA as we approach the weekend. Comments and criticisms are greatly encouraged. {image}
I was trying to get this done for you before I left for work but Internet went down. Thought I would post it anyway. Just check right now, there is a TC on my Macd but price did not make it back close enough to the 21 for me. Still watching
- #27,018
- Feb 20, 2014 2:03am Feb 20, 2014 2:03am
My EU is now closed:
Price stalled on me - been a long trade to walk away with 15 pips approx. Have watched it move to +50 and had no reason to think it would fall back this far.
Anyway - successful trade by the rules so happy result. Getting ready for possible H&S break of neckline. Wait for a breakout , a pullback to the neckline then a move away to confirm the pattern.
Anyone else see something to share ?
Price stalled on me - been a long trade to walk away with 15 pips approx. Have watched it move to +50 and had no reason to think it would fall back this far.
Anyway - successful trade by the rules so happy result. Getting ready for possible H&S break of neckline. Wait for a breakout , a pullback to the neckline then a move away to confirm the pattern.
Anyone else see something to share ?
- #27,020
- Feb 20, 2014 12:24pm Feb 20, 2014 12:24pm
I want to know if anybody is using the position calculator found in Post 9147. How / where do you get the values in the Cells B1 - B7 or they are constant values. Thank you.