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  • #32,141
  • Mar 11, 2014 9:43pm Mar 11, 2014 9:43pm
The 3 yen pairs I watch GY, EY and UY are showing rejection and reversal patterns from key levels.

Possible resumption of last weeks up trend?

irishtoffy
  • #32,142
  • Mar 11, 2014 10:34pm Mar 11, 2014 10:34pm
AUD/USD 4H - Possible Bullish Divergence

I would keep an eye on this one guys.
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Take what the market gives you.
  • #32,143
  • Mar 11, 2014 10:41pm Mar 11, 2014 10:41pm
Quoting TheScorpS
EA reached key level and now shows divergence on H1, so what do you think about a short possibility? There also happened to be an AB=CD completion at this level of previous move {image}
How about being a buyer after some pull back? Stops should have been clustered at previous high (left end in the image) and it could be targeted (stop hunting) before going down....
EA 4H
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #32,144
  • Mar 11, 2014 10:46pm Mar 11, 2014 10:46pm
USD/CHF 1H - Double Bottom - Entered Long
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Take what the market gives you.
  • #32,145
  • Mar 11, 2014 10:49pm Mar 11, 2014 10:49pm
GBP/JPY 4H - Bullish Divergence
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Take what the market gives you.
  • #32,146
  • Mar 11, 2014 10:51pm Mar 11, 2014 10:51pm
GBPCAD has been in a very nice channel on daily. Price is touching the lower channel right now. Maybe a good time to dial down to find long entry. Very interested to see if it can break that very strong top resistance.
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Everything you can imagine, is real - Pablo Picasso
  • #32,147
  • Mar 11, 2014 10:51pm Mar 11, 2014 10:51pm
Quoting emmanuel7788
{quote} {image} To D chart traders, what do you see? {image}

How do you find a market entry= after finishing the retracements.....or what other area to look for
Sad i'm not trying to understand PA
  • #32,148
  • Mar 11, 2014 10:56pm Mar 11, 2014 10:56pm
Quoting Direwolf
GBPCAD has been in a very nice channel on daily. Price is touching the lower channel right now. Maybe a good time to dial down to find long entry. Very interested to see if it can break that very strong top resistance. {image}
Direwolf

I would wait. A tiny bit of possible divergence on 1H chart and potential double top. For now I see bear.
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Take what the market gives you.
  • #32,149
  • Mar 11, 2014 11:36pm Mar 11, 2014 11:36pm
Quoting omonisha
{quote} How do you find a market entry= after finishing the retracements.....or what other area to look for

EJ 12 Mar:

first, we must believe in that setup and there is no invalidation.
then look for an intraday trade setup on H1 and use those intraday support and resistance like previous D Fib retracements levels. A Fib 38/50 entry is my favourite.
you can better time an entry with smaller initial SL by using a M15 entry with the 5SMMA PAC.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #32,150
  • Mar 11, 2014 11:39pm Mar 11, 2014 11:39pm
Quoting Tiggrrr
{quote} Direwolf I would wait. A tiny bit of possible divergence on 1H chart and potential double top. For now I see bear. {image}

H1 can be noisy in sideways market so don't count so much on divergence because they do fade away after a few more bars.
remember, the market will set you up with such noisy confusion on the ground.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #32,151
  • Mar 11, 2014 11:44pm Mar 11, 2014 11:44pm
Quoting heispark
{quote} How about being a buyer after some pull back? Stops should have been clustered at previous high (left end in the image) and it could be targeted (stop hunting) before going down.... EA 4H {image}
what does your top down analysis show you?

look at weekly chart and then look at D chart again.... a pause/consolidation after a bullish rally, do we see sellers yet? if no, then we must learn to wait.

I am looking at 1.5530 reaction ....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #32,152
  • Mar 11, 2014 11:51pm Mar 11, 2014 11:51pm
If you have nothing to do and to trade, why not look at GBPUSD.
Do your top down analysis and plan your next 4H trade.
It is not about how many pips you get.
It is about entries and exits.
It is about your initial SL which will be your risk R.
Then how you exit will determine how many Rs you get out of any trade. Overall. the more Rs per trade, the better will be your long term trading success.

Look at EURUSD and also EURGBP.

Trade Well.

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #32,153
  • Mar 11, 2014 11:51pm Mar 11, 2014 11:51pm
Quoting as33156
{quote} Sweet! How did you pull that trade off? I don't see and entry on my chart unless I got in on the 3rd candle and then I would be nowhere 75 pips in profit. You must have got in when the 2nd candle was still active or something.

I took this trade on the break of resistance by the 4 hour candle with TDI crossing upward with good angle, moreover few minutes were left for completion of the candle so just took the trade as it was a strong reverse, closed the trade on touch of upper band of the channel.
  • #32,154
  • Mar 12, 2014 12:10am Mar 12, 2014 12:10am
Quoting emmanuel7788
{quote} EJ 12 Mar: first, we must believe in that setup and there is no invalidation. then look for an intraday trade setup on H1 and use those intraday support and resistance like previous D Fib retracements levels. A Fib 38/50 entry is my favourite. you can better time an entry with smaller initial SL by using a M15 entry with the 5SMMA PAC.
Thanks a lot for your guidance... having problem to understand the setup....when they occur..and how to understand them..you throw a gem to me...


Thanks thanks a lot
Sad i'm not trying to understand PA
  • #32,155
  • Mar 12, 2014 12:17am Mar 12, 2014 12:17am
EA channel update week 11:

My favourite way to draw price channels has been using swing points and TDI confirmation.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #32,156
  • Mar 12, 2014 12:35am Mar 12, 2014 12:35am
Quoting emmanuel7788
EA channel update week 11: My favourite way to draw price channels has been using swing points and TDI confirmation. {image}
If we draw channel the same way as suggested by Phx62 on daily for H4 trading then the end result will remain same as you mentioned. Please correct me if I am doing something wrong.
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  • #32,157
  • Mar 12, 2014 1:05am Mar 12, 2014 1:05am
Quoting heispark
{quote} How about being a buyer after some pull back? Stops should have been clustered at previous high (left end in the image) and it could be targeted (stop hunting) before going down.... EA 4H {image}
Yeah at the moment nothing confirmed anything to short, still waiting on the sideline, and just reading what pa trying to do, this is a key level, in order for pa to continue upward movement, it needs a lot of momentum
I Have Learned to Take Some Losses to Make Profits
  • #32,158
  • Mar 12, 2014 1:08am Mar 12, 2014 1:08am
Quoting manoj_3986
{quote} If we draw channel the same way as suggested by Phx62 on daily for H4 trading then the end result will remain same as you mentioned. Please correct me if I am doing something wrong. {image} {image}

There is no correct or wrong way to draw any price channel on our charts.
What is important is what is our approach to determine our price channels. Most price channels are draw using trend line as the base line.
The most common method is to identify the price trend. If there is a major trend, we can then draw the major trendline on our charts.
With that major trendline, we can then draw a parallel line to thart major trendline and that become the channel line.

The placement of the channel line can be determine using the next swing high or low from that major trend line.
As market makes new highs or lows, we update or add adother channel line parallel to that major trendline we first identified.

we can use the MT4 tool Andrews Pitchfork as a general guide for drawing trending market channels. But I find manually drawn channels works well with TMS 4H swing trading becasue we use the TDI as our only main momentum indicator and the price swing points are quite distinctly seen in bopth trending market type and also the wide range sideways market type. Channels are useless when market is narrow ranged sideways.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #32,159
  • Mar 12, 2014 1:14am Mar 12, 2014 1:14am
Quoting emmanuel7788
{quote} There is no correct or wrong way to draw any price channel on our charts. What is important is what is our approach to determine our price channels. Most price channels are draw using trend line as the base line. The most common method is to identify the price trend. If there is a major trend, we can then draw the major trendline on our charts. With that major trendline, we can then draw a parallel line to thart major trendline and that become the channel line. The placement of the channel line can be determine using the next swing high...
Thank you very much for your inputs.
  • #32,160
  • Mar 12, 2014 1:19am Mar 12, 2014 1:19am
GBPUSD Week 11 Big Picture Planning (updated 12 Mar pre-LO):

here folks, just updated my weekly big picture for GU for those following.
Attached File(s)
File Type: pdf GBPUSD Big Picture Planning update 12 March Week 11.pdf   192 KB | 606 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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