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Trading Made Simple

  • #37,041
  • May 1, 2014 6:49pm May 1, 2014 6:49pm
Quoting GilR
{quote} Erl--- thank you for that. I will now add the MBL to chart (dashed) to see how it reacts on my daily charts. May save my beacon.
Sorry pls whats MBL stand for?
  • #37,042
  • May 1, 2014 7:02pm May 1, 2014 7:02pm
Quoting wnabo
{quote} Sorry pls whats MBL stand for?
Attached Image (click to enlarge)
Click to Enlarge Name: MBL.png Size: 14 KB


Regards
  • #37,043
  • May 1, 2014 10:23pm May 1, 2014 10:23pm
Quoting wnabo
{quote} Sorry pls whats MBL stand for?
MBL is the yellow line and is called the Market Base Line.
  • #37,044
  • May 1, 2014 11:56pm May 1, 2014 11:56pm
Hi everybody,

today, these is the NFP NEw. Does some one try to trade before the new (e.g. this morning, LO). Or may be, for today, it is very dangerous to trace before the new. We should wait volatility new finish and then look for good entry point?

Thank come from a newbie


cheers
  • #37,045
  • May 2, 2014 12:00am May 2, 2014 12:00am
Such a dead market. No trade for me this 6AM. Looking at EA but nothing is moving across all pairs.. Calm before the storm i recon. NFP Friday!!
  • #37,046
  • May 2, 2014 1:56am May 2, 2014 1:56am
Quoting laurent2b
Hi everybody, today, these is the NFP NEw. Does some one try to trade before the new (e.g. this morning, LO). Or may be, for today, it is very dangerous to trace before the new. We should wait volatility new finish and then look for good entry point? Thank come from a newbie cheers
For a newbie, I'd recommend you demo trade today because there is British news and then the "biggest news of the month" following that (4 hours later or so).

I use the analogy of "surfing" for trading. Right now everybody is sitting on their boards waiting in the water for the "big one." If you're new at this, I'd stay on the beach and have a beer. Much more fun than getting killed.
  • #37,047
  • May 2, 2014 4:11am May 2, 2014 4:11am
Quoting kevinace
{quote} Hopefully its a head and shoulder (reversal) formation that is forming .. I entered on the break of the counter trend line and the market has been going sideways ever since. If the market takes out 1.6919 (high of the master candle/ head ) then the bullish run continues if not it has no choice but go south ... {image} Kindest
Yes it could go either way but I've just noticed something, which isn't strictly TMS but might be of interest to traders (this is probably pretty obvious to experienced ones).

Master candles tend to create supply and demand zones, and this zones tend to be created 'at the extremes' of moves, when the market goes beyond say its ADR or beyond support / resistance and you get a sudden pullback, and PA retreats very quickly suggesting a serious supply/demand imbalance in that area.

My theory is if the MC creates a demand zone then the probability is that PA will break upwards, and if it creates supply, downwards. The problem is if there is little trend or momentum, it can create tightly packed and consolidated and even nested zones.

The elipses on my chart show MC setups.
Attached Image (click to enlarge)
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  • #37,048
  • May 2, 2014 4:19am May 2, 2014 4:19am
this morning, one trade only. Long G/Cad. Still keeping my G/U, G/A and E/A long trades
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #37,049
  • May 2, 2014 4:26am May 2, 2014 4:26am
E/aud daily chart with swing highs highlighted on price and tdi and a trendline. Looking for an uptrend continuation . Targets are high
Attached Image (click to enlarge)
Click to Enlarge Name: pic28.png Size: 66 KB
the cautious seldom err....C
  • #37,050
  • May 2, 2014 8:14am May 2, 2014 8:14am
3 trades taken....was outside...now got back....looking good

EURUSD...GPBUSD....USDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: Image 063.png Size: 85 KB
Sad i'm not trying to understand PA
  • #37,051
  • May 2, 2014 8:38am May 2, 2014 8:38am
Quoting omonisha
3 trades taken....was outside...now got back....looking good EURUSD...GPBUSD....USDJPY {image}
congratulations
  • #37,052
  • May 2, 2014 9:42am May 2, 2014 9:42am
GOLD.....TDI Bounce...
Attached Image (click to enlarge)
Click to Enlarge Name: 5-2-2014-GOLD.png Size: 51 KB
Sad i'm not trying to understand PA
  • #37,053
  • May 2, 2014 10:53am May 2, 2014 10:53am
Quoting omonisha
3 trades taken....was outside...now got back....looking good EURUSD...GPBUSD....USDJPY {image}
Did you trade the daily? Can you let me know the reasons for these 2 trades, E/U and G/U. Having a very bad day with internet connection. 10 minutes after NFP connection was very2 unstable but I managed to take a long on G/u on the 15mtf despite horrendous connection. Logged on just a few mins ago and connection seems ok now
the cautious seldom err....C
  • #37,054
  • May 2, 2014 11:03am May 2, 2014 11:03am
Quoting hostwey
{quote} Yes it could go either way but I've just noticed something, which isn't strictly TMS but might be of interest to traders (this is probably pretty obvious to experienced ones). Master candles tend to create supply and demand zones, and this zones tend to be created 'at the extremes' of moves, when the market goes beyond say its ADR or beyond support / resistance and you get a sudden pullback, and PA retreats very quickly suggesting a serious supply/demand imbalance in that area. My theory is if the MC creates a demand zone then the probability...
Can someone please tell me what defines a Master Candle?

Thanks!
  • #37,055
  • May 2, 2014 11:05am May 2, 2014 11:05am
Quoting omonisha
3 trades taken....was outside...now got back....looking good EURUSD...GPBUSD....USDJPY {image}
Can you explain why you took the trades because I can't see the setup myself?
Attached Image (click to enlarge)
Click to Enlarge Name: 2nd May 14 EUR:USD GBP:USD USD:JPY D1 Charts.png Size: 191 KB
  • #37,056
  • May 2, 2014 11:25am May 2, 2014 11:25am
Quoting stevepatt
{quote} Can you explain why you took the trades because I can't see the setup myself? {image}
Quoting pips29
{quote} Did you trade the daily? Can you let me know the reasons for these 2 trades, E/U and G/U. Having a very bad day with internet connection. 10 minutes after NFP connection was very2 unstable but I managed to take a long on G/u on the 15mtf despite horrendous connection. Logged on just a few mins ago and connection seems ok now
Trades taken watching the real price candle...Hope the below image can explain

Regards
Omonisha
Attached Image (click to enlarge)
Click to Enlarge Name: Image 068.png Size: 81 KB
Sad i'm not trying to understand PA
  • #37,057
  • May 2, 2014 2:05pm May 2, 2014 2:05pm
Quoting omonisha
3 trades taken....was outside...now got back....looking good EURUSD...GPBUSD....USDJPY {image}
Quoting omonisha
GOLD.....TDI Bounce... {image}
Nice PA! If the moves follow and PA closes beyond 5MA, Monday looks like a nice TMS entry on first 3 you took. Do you enter hammers/morning stars half-way of confirmation candle?
  • #37,058
  • May 2, 2014 2:48pm May 2, 2014 2:48pm
Quoting timginter
{quote}{quote}Nice PA! If the moves follow and PA closes beyond 5MA, Monday looks like a nice TMS entry on first 3 you took. Do you enter hammers/morning stars half-way of confirmation candle?

GPBUSD?...yes
Sad i'm not trying to understand PA
  • #37,059
  • May 2, 2014 3:22pm May 2, 2014 3:22pm
Quoting omonisha
{quote} {quote} Trades taken watching the real price candle...Hope the below image can explain Regards Omonisha {image}
Hi Omonisha,

I'd don't see the trades you have taken are following TMS rules you got very lucky that NFP went your way.

The setups you have highlighted are weak even if you are following just plain PA.
  • #37,060
  • May 2, 2014 3:27pm May 2, 2014 3:27pm
Here's a lousy entry, not TMS but lousy anyway and the luck of the Irish on the NFP candle.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1winbadentrylucky02.05.2014.png Size: 89 KB
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