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  • #34,241
  • Mar 28, 2014 9:55am Mar 28, 2014 9:55am
EURJPY H1 wonderful friday workout on my short trading week => gave me another +65 pips

After long PCRF (pullback candle formation) with strong momentum to the upside I missed the break of the asian session consolidation high, but then went long on the break of the London session high formed by the double top.

I thought the trade would go to yesterday's high - perhaps stopping at the trendline - but it went further and after another stong upside move without retracement I set the TP shortly before R2.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-03-28 15.15 EURJPY - profit.png Size: 113 KB
fxFox (all times in my charts are GMT+1)
  • #34,242
  • Mar 28, 2014 10:22am Mar 28, 2014 10:22am
Quoting fxFox.mb
EURJPY H1 wonderful friday workout on my short trading week => gave me another +65 pips After long PCRF (pullback candle formation) with strong momentum to the upside I missed the break of the asian session consolidation high, but then went long on the break of the London session high formed by the double top. I thought the trade would go to yesterday's high - perhaps stopping at the trendline - but it went further and after another stong upside move without retracement I set the TP shortly before R2. {image}
Great trade fxfox. Too bad I am on the other side and just about 15pips away from getting stopped out. This trade was taken with the daily tf. After this, I reckon I won't be using the daily to trade. I am best at the H1 tf. E/u is 4 pips green at this time and below is a trade I took earlier on H1
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the cautious seldom err....C
  • #34,243
  • Mar 28, 2014 11:08am Mar 28, 2014 11:08am
Quoting emmanuel7788
{quote} Here use the FF paper clip and search: {image}
Thanks a lot Emmanuel!
  • #34,244
  • Mar 28, 2014 11:17am Mar 28, 2014 11:17am
Quoting fxFox.mb
EURJPY H1 wonderful friday workout on my short trading week => gave me another +65 pips After long PCRF (pullback candle formation) with strong momentum to the upside I missed the break of the asian session consolidation high, but then went long on the break of the London session high formed by the double top. I thought the trade would go to yesterday's high - perhaps stopping at the trendline - but it went further and after another stong upside move without retracement I set the TP shortly before R2. {image}
Spotting the divergence before hand was critical in being ready for the trade, so entry new candle after the bullish candle is ideal I think and then when PA reaches the falling trend with momentum, giving the trade a room to trend is ideal , the difficult part is where to exit since EMA 200 was in the way too

Good Luck
I Have Learned to Take Some Losses to Make Profits
  • #34,245
  • Mar 28, 2014 11:53am Mar 28, 2014 11:53am
Ok...here I go again, so I have done some studying of the synergy system [still along way to go] and looked at some simple PA.

This is the same chart I posted before, and thanks for the help from emmanuel7788, Direwolf and Zoopots [and others] for the time you took to help me.
This is more trial by fire...but here goes:
I am looking at this chart Daily and believe the signals are saying possibly short...maybe to 1.36000, due to the channel on weekly and Daily. Also as with the notes I have written on the images too. Clearly I wouldn't trade this Friday and lack of knowledge or money management strategy - however It's all conjecture but would be grateful if anyone could check my understanding or if I have completely missed the boat. I have spent a good few days digesting some simple information, hope some of it has sunk in, plus would be good to see why it may be wrong and the mistakes I have made. Thanks guys

Attached Image (click to enlarge)
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  • #34,246
  • Mar 28, 2014 12:07pm Mar 28, 2014 12:07pm
Daily candle has printed yet obviously on the EURUSD but this rejection of the 100 SMA D1 could look pretty bullish next week.
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  • #34,247
  • Mar 28, 2014 12:17pm Mar 28, 2014 12:17pm
Quoting emmanuel7788
{quote} today best for H1 and M15 PAC trading , all CT trades, small SL and R:R 1:1 type of trades. Grab and run.
exell Emmanuel
  • #34,248
  • Mar 28, 2014 12:18pm Mar 28, 2014 12:18pm
Would you pls help me with answers to these question on the chart, regarding EJ story today

What happens when Daily candle trade lower after opening price and then shift direction and trend in the other direction for the rest of the day?

Daily candle opened bearish, traded almost 40 pips down lower than opening price, so I was thinking of more bearish movement to the downside especially the trend was down, so pls share your thoughts

I posted the Daily candle , I trade H1 but what was you plan when looked at HTF ie Daily candle early morning to decide which way you would want to trade
Attached Image (click to enlarge)
Click to Enlarge Name: EJ.jpg Size: 352 KB
I Have Learned to Take Some Losses to Make Profits
  • #34,249
  • Mar 28, 2014 12:56pm Mar 28, 2014 12:56pm
AUDJPY H4 update prior to weekend:

Pair continues long nicely and I've moved S/L to 94.25 protecting +254 pips of profit. H4 resistance to the north lies at 95.60 (current target on this trade); 96.12 Daily Fib extension of 138% and 97.20 previous Daily support (now resistance).

Minor trade management this morning: moved S/L to 94.46 protecting 278 pips of profit while overall PA has moved +350 pips from entry. Leaving TP as is at 95.58. Will take an unscheduled look just before my broker closes to make adjustments, if necessary, to handle potential gap opens on Sunday afternoon.
  • #34,250
  • Mar 28, 2014 12:57pm Mar 28, 2014 12:57pm
Quoting TheScorpS
{quote} Spotting the divergence before hand was critical in being ready for the trade, so entry new candle after the bullish candle is ideal I think ...
TheScorpS,

you're right. Divergence is a thing which ofter can dissolve after a few candles. Therefore a single divergence over about 15 candles is not a good indication.

As emmanuell often says we should look for confluence of different indications:

Quoting TheScorpS
Would you pls help me with answers to these question on the chart, regarding EJ story today ...
Here we had 2 different divergences,
we reached a new low @139.96 directly at a daily S/R line / zpne (daily close prices in the area 139.89 - 139.97 -- from 1/24 & 2/11 & 2/27),
and we got a massive bullish retracement candle - even if it's red. This stopped in the asian session consolidation zone, was retracing a little and then went further up.

Nevertheless, I am a little shy at entering after pullbacks of about 50 pips in one candle, but the next candle retraced a little. And I thought about the ATR of the last 10 days at about 100 pips, I thought it could go up to yesterdays high.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-03-28 EURJPY daily.png Size: 78 KB
Attached Image
fxFox (all times in my charts are GMT+1)
  • #34,251
  • Mar 28, 2014 1:10pm Mar 28, 2014 1:10pm
One trade today trading the 4 hour as Big E did on page 1:

GJ- +69 pips

Week 2

Mon: +92 pips

Tuesday: +93 pips

Weds: No Trades

Thurs: -11 pips

Fri: +69 pips

Total: +243 pips for this week checking my computer three times a day stress free!!

Thank you so much big E for thinking different for everyone else, RIP...

Week 1: +155 pips

Week 2: +243 pips

Total: +398 pips

Have a great weekend
Attached Image (click to enlarge)
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Give yourself a chance and trade it like it's layed out...
  • #34,252
  • Mar 28, 2014 1:22pm Mar 28, 2014 1:22pm
EJ target hit +50 pips
Entered after 2 bar rejecting VBRN 140.00. Wasn't home to monitor it so I only set target at 50 pips, below 141.00.
Attached Image (click to enlarge)
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Not quite reaching my weekly goal but still a good week

By the way, LEGO the movie was awesome. Enjoyed it. Highly recommended!
Everything you can imagine, is real - Pablo Picasso
  • #34,253
  • Mar 28, 2014 1:23pm Mar 28, 2014 1:23pm
Quoting Bizzzle
One trade today trading the 4 hour as Big E did on page 1: GJ- +69 pips Week 2 Mon: +92 pips Tuesday: +93 pips Weds: No Trades Thurs: -11 pips Fri: +69 pips Total: +243 pips for this week checking my computer three times a day stress free!! Thank you so much big E for thinking different for everyone else, RIP... Week 1: +155 pips Week 2: +243 pips Total: +398 pips Have a great weekend {image}
Excellent Trading Bizzzle

Quick question. I have changed my broker and now the new H4 appear at midnight 12AM and then 4AM. Should I look for the setup at 3AM LO or wait for new candle at 4AM? sorry I was concentrating on H1 but no time to monitor every hour. The results are still positive but it could be better with H4.

Thank you in advance. Hoperich
  • #34,254
  • Mar 28, 2014 1:25pm Mar 28, 2014 1:25pm
Quoting TheScorpS
Would you pls help me with answers to these question on the chart, regarding EJ story today What happens when Daily candle trade lower after opening price and then shift direction and trend in the other direction for the rest of the day? Daily candle opened bearish, traded almost 40 pips down lower than opening price, so I was thinking of more bearish movement to the downside especially the trend was down, so pls share your thoughts I posted the Daily candle , I trade H1 but what was you plan when looked at HTF ie Daily candle early morning to decide...
Scorp-

The answer to your questions may lie in the upper right corner of your chart...the W, D, H4 and H1 trend indicators are all showing long (at least I believe that's what you have attached there). So taking a sell based on a Daily candle "breathing" some to the short side is fighting powerful trends on higher time frames.

We focus a lot on TDI/Stochastics in this thread and all three of the Stochastic levels (Daily, H4 and H1) were at oversold levels when you thinking there was bearish movement to the downside. Also, note the TDI relationships: H1 was echoing Stoch sentiment and was near 32, ditto H4 and Daily MBL was trending up. You can't just say "Well, the daily candle is red at the moment so the trend must be down"...you'll die a slow death with that type of thinking.

See picture below that visually shows what I've typed above:

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_18 28-Mar 11.18.jpg Size: 168 KB


I've attached a Multiple Time Frame Indicator on your E/J chart to show the trends at the time of your question. You'll see that you were thinking of trading contrary to numerous bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_15 28-Mar 11.02.jpg Size: 125 KB
  • #34,255
  • Mar 28, 2014 1:59pm Mar 28, 2014 1:59pm
I added the STOCH to my previous chart:
Would the STOCHASTIC indicate that this may not be BEARISH after all but actually contradict the other signals and show a Bullish move?

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-03.png Size: 48 KB


However the WEEKLY shows STOCH at 80...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-w1-03.png Size: 43 KB


But on the H4 it shows a BULLISH move [although the MBL is showing down momentum]:

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h4-03.png Size: 43 KB


Does this mean ALL W+D+H4 must agree with each other? or am I reading this completely wrong?
  • #34,256
  • Edited 2:25pm Mar 28, 2014 2:00pm | Edited 2:25pm
Quoting Zoopots
AUDJPY H4 update prior to weekend: ...
Zoopots,

very nice and more stressless trading.
Do you follow AUDUSD too? What do you think about a H4 short - as I understood your approach, wouldn't that a nice short indication?

AUDUSD reached a S/R zone and begins to retrace with a nice overbought TDI cross above 68.
Divergence between price and TDI on H4 but price not under PAC yet.
Daily forms a pullback candle and daily TDI is above 68 "perhaps" turning.

How do you decide at such a strong upmove if this is only a first fakey or the real turnig point?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2014-03-28 AUDUSD H4.png Size: 82 KB
Click to Enlarge Name: 2014-03-28 AUDUSD D1.png Size: 72 KB
fxFox (all times in my charts are GMT+1)
  • #34,257
  • Mar 28, 2014 3:13pm Mar 28, 2014 3:13pm
Quoting fxFox.mb
{quote} Zoopots, very nice and more stressless trading. Do you follow AUDUSD too? What do you think about a H4 short - as I understood your approach, wouldn't that a nice short indication? AUDUSD reached a S/R zone and begins to retrace with a nice overbought TDI cross above 68. Divergence between price and TDI on H4 but price not under PAC yet. Daily forms a pullback candle and daily TDI is above 68 "perhaps" turning. How do you decide at such a strong upmove if this is only a first fakey or the real turnig point? {image} {image}
This is how i see it

Attached Image (click to enlarge)
Click to Enlarge Name: 2014-03-28 AUDUSD D1.png Size: 71 KB
I am not random, U just can't think as fast as me....
  • #34,258
  • Mar 28, 2014 5:02pm Mar 28, 2014 5:02pm
Quoting irishtoffy
{quote} That's what I was thinking. Although my broker (FXCM UK) told me they do a minimum of $1 (pound) per pip. Don't know why
Hi Irishtoffy, first let me begin by saying it's good to trade on a demo until you are comfortable risking real money. That said, I wanted to clarify that the minimum trade size at FXCM is only 10 cents per pip or about 6 pence. We've offered micro lot trading on forex for years and recently introduced micro lots for CFDs.
  • #34,259
  • Mar 28, 2014 5:53pm Mar 28, 2014 5:53pm
Quoting Helanka
Dear Emmanuel,Bizzle & other H4 trade friends, I have away from this thread & Forex business last couple of week & i have to travel my wife's house because of my new born baby.There was no internet facility.Now I have come back but i can not trade h1 time frame now because of my new job.So I want to shift H4 time frame & i want to back test some pairs. Pls give me your help by answering below questions. 1) What are the most suitable currency pairs to trade on H4 by using TMS method.(according to the current market situation) 2) When you enter trade...
Hello mate!
Congrats on being a father

I will answer your questions in the number sequence of your post.

1. Most suitable currency pairs are A/j, A/u, E/a, E/j, E/c, E/n, E/u, G/a, G/j. G/u plus crude oil if you are interested in trading CFDs.

2. If you enter a trade and after 4 hours new candles closed against your trade then first thing you should look for is what happened wrong, Like:
a. Any S/R level pushed it back on you
b. Any fundamental news
c. Opening or closing of any market session
Most of the time with my trades this does not happen because i dont trade into S/R levels, avoid trading before news and give consideration to time of entry before entering.
If the reason is not any of the above then look at formation of candle like is it weak doji type of candle or a strong candle indicating strongly to get out of trade, consider looking at last 4 to 5 candles and see what they are telling you in combination. Look for divergence.
After considering all these things you should make a decision at your own discretion whether to exit or stay in trade.

3. You should look for chart entries every 4 hours but trade only the relevant pairs in their relevant market session like you can trade E/A in both london and Asian session but you cannot trade G/U in Asian session.

4.Most suitable method is to use cave manager for exit and you can do multiple exit on 0.02 lot. Consider taking profit at 50 pips of first 0.01 lot and let remaining run with a trail stop of 30 pips and final top profit of 200 pips.

Hope this helps.
I am not random, U just can't think as fast as me....
  • #34,260
  • Mar 28, 2014 6:06pm Mar 28, 2014 6:06pm
Quoting Bizzzle
One trade today trading the 4 hour as Big E did on page 1: GJ- +69 pips Week 2 Mon: +92 pips Tuesday: +93 pips Weds: No Trades Thurs: -11 pips Fri: +69 pips Total: +243 pips for this week checking my computer three times a day stress free!! Thank you so much big E for thinking different for everyone else, RIP... Week 1: +155 pips Week 2: +243 pips Total: +398 pips Have a great weekend {image}
Congrats Bizzzle! Great trading! Big E's method works all by itself and works well.
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kartikpetkar