Everything you can imagine, is real - Pablo Picasso
- #33,482
- Mar 22, 2014 2:08pm Mar 22, 2014 2:08pm
{quote} Hi Ababias, I don't know what pair that chart is for because you are missing the information on it but I assume its the EA 4hr. If my assumptions are correct then here is a chart showing my analysis. Also I don't use that yellow 5MA. Following my rules you see that there were no trades for EA this week.No worries though because there was tons of action on the other pairs. Thats why we analyze so many charts so that we may take only A++++ trades. The difference between how I trade TMS is in the fact that I don't like to enter...
- #33,484
- Mar 22, 2014 6:21pm Mar 22, 2014 6:21pm
{quote} The way I see it. {image} 1. The 2 highest bars left long wicks to the up side. Those are pull back bars and are reversal signal by themselves. So once price broke the green line I would enter short right away. I would be watching the round number 1.5400 on the way down which in this case price was able to break through. 2. Price retrace and made multiple attempts to break 1.5400. It failed. The candle I marked with red arrow once against left a long wick through 1.5400 before coming back down and close bearish. That is the signal to go...
Great comments/questions on your chart.
When I look at Big E's first couple of pages it seems to me he understood that "the market gives what it wants and not what we wish". In fact and I may be wrong his system was more "4hr scalping" if you understand what I am saying where stops were only emergency and TP whatever the market gave. I cannot imagine he would allow a +20, 30 or 50 go back to BE because one insisted on 1R or 2R or even I shall 100 pips or nothing
etc.Maybe those who knew the master better could comment on his mindset concerning TMS
Thanks
Gil
- #33,485
- Mar 22, 2014 6:49pm Mar 22, 2014 6:49pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Big E's post 557 .... to better know him:
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
{quote} I find using PAC (2 MA's) more complex than using 1 MA. The PAC start to bring in confusion and hesitation to me. How do you utilize the PAC for your entries?
Blue candle close out of PAC and a strong candle.
TDI= Green crosses red and over yellow(market base line)
Exit= Red circle on chart (Green line is hooked or flat)
FOR SHORT ENTRY:
Red candle close out of PAC and a strong candle.
TDI= Green crosses red and under yellow(market base line)
Exit= Red circle on chart (Green line is hooked or flat)
Other Important points
1. Beware of buying around 68 and selling around 32 area in TDI
2. Look out for trend (Bullish or Bearish)
3.This is a conservative approach to TMS and you might miss some pips but get more positive trades
I am open to comments from senior members.
Regards
- #33,490
- Mar 23, 2014 2:26am Mar 23, 2014 2:26am
{quote} FOR LONG ENTRY: Blue candle close out of PAC and a strong candle. TDI= Green crosses red and over yellow(market base line) Exit= Red circle on chart (Green line is hooked or flat) FOR SHORT ENTRY: Red candle close out of PAC and a strong candle. TDI= Green crosses red and under yellow(market base line) Exit= Red circle on chart (Green line is hooked or flat) Other Important points 1. Beware of buying around 68 and selling around 32 area in TDI 2. Look out for trend (Bullish or Bearish) 3.This is a conservative approach to TMS and you might...
Now looking at your scenario - theory is one thing, but lets be practical. Would you give up the pips below to follow your rules?
- #33,491
- Mar 23, 2014 2:50am Mar 23, 2014 2:50am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #33,493
- Mar 23, 2014 4:23am Mar 23, 2014 4:23am
{quote} Hi Ababias, I don't know what pair that chart is for because you are missing the information on it but I assume its the EA 4hr. If my assumptions are correct then here is a chart showing my analysis. Also I don't use that yellow 5MA. Following my rules you see that there were no trades for EA this week.
Thanks for the reply. Your rules are :
1) TDI cross should happen on first APB color change and entry on the second candle
2) At the same time, it should be above the PAC.
Correct me, if I am wrong.
Can you let me know, your TP & Sl rules at the time of entry.
See my charts and let me know your views. I may be asking very silly question, pl. clarify. If you can post your last week trade charts with brief explanation , it will be great.
- #33,500
- Edited 5:36am Mar 23, 2014 5:20am | Edited 5:36am
{quote} What will be your SL & TP rules at the time of entry. Do you consider 1.55000 RN . RN you consider 1.54000 , 1.53000, ....... or 1.55100,1.55200.....
{quote}Do you consider the long entry before this short entry. You are right. 1 & 2 made LH & LL.
Pro - multiple candle already showed rejecting to go low.
Con - TDI not very steep. The candle itself has long wick on the up side. Price is stuck in a box (no new high). Also 1.5400 very close.
Now it's up to you how you weigh the pro & con. I personally would have stayed out because of the wick going up and the side way box. But other than that it's a valid entry. If you do enter, you'll want to get out when price couldn't break 1.5400 a couple times and start moving down. Or at least move stop loss to BE.
Everything you can imagine, is real - Pablo Picasso