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Trading Made Simple

  • #37,301
  • May 9, 2014 5:00am May 9, 2014 5:00am
Quoting Piprader
{quote} Hi EMM and thank you for your continued support, what you teach is priceless, with regard to the EURAUD I did see the consolidation and shallow retrace and inside bar, but I backed away from entering because of the size of the pullback tail, where I have indicated, what gave you confidence to go short, as I saw it there was a high shadow bar followed by inside bar followed by a pullback shadow closing back inside the PAC, The trade you took was good but I had no cross on TDI, confused rookie, please help. {image}

Hi Piprader,

Good question.
H4 showed me a Pin Bar, ... a pullback during the Tokyo session.
On H1, that entry was more on Price Action and entering during a active APB is Dynamic Candle Entry (before that candle closes) which is agrressive and risky. TDI was used as the confirmation when trading H1. And the initial SL was small just above the Tokyo 5H high, I mitigate with lower % risk of 1% instead of the usual 2% per trade.


But in hindsight, if we just look at the chart again ( I used your chart and made some comments), a safer entry would be to wait for candle 4 close to see a better valid H1 entry with the PAC.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 pomo piprader chart.png Size: 73 KB


regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,302
  • May 9, 2014 5:04am May 9, 2014 5:04am
Quoting stevepatt
{quote} Hi Emmanuel, The image below shows what I would rather be looking for. Like jmn5611, said above, divergence usually means going against an established trend, personally I'm not comfortable doing this without good PA to support it. I would much rather get into a trade early after a pull back in an established trend and then enter with a Stop Order. {image}
This is how I'm looking at NZD/USD D1, this is why I don't just trade a cross of the Green and Red.

Waiting for a bullish cross of the TDI in a situation like this would get me into a trade late but setting up a Buy Stop Order above yesterdays high will get me in line with the over all trend. If it continues down I haven't lost anything.
Attached Image (click to enlarge)
Click to Enlarge Name: 9th May 14 NZD:USD D1 Chart.png Size: 142 KB
  • #37,303
  • May 9, 2014 5:16am May 9, 2014 5:16am
My bias is down but not convinced yet
Attached Image (click to enlarge)
Click to Enlarge Name: pic41.png Size: 65 KB
the cautious seldom err....C
  • #37,304
  • May 9, 2014 5:33am May 9, 2014 5:33am
Quoting emmanuel7788
{quote} Hi Piprader, Good question. H4 showed me a Pin Bar, ... a pullback during the Tokyo session. On H1, that entry was more on Price Action and entering during a active APB is Dynamic Candle Entry (before that candle closes) which is agrressive and risky. TDI was used as the confirmation when trading H1. And the initial SL was small just above the Tokyo 5H high, I mitigate with lower % risk of 1% instead of the usual 2% per trade. But in hindsight, if we just look at the chart again ( I used your chart and made some comments), a safer entry...
Hi EMM, Thank you so much for taking the time to explain your thoughts and further explanations, this is is so educational and I am sure helpful to many rookie traders, once again thank you
  • #37,305
  • May 9, 2014 7:16am May 9, 2014 7:16am
EURUSD H4 Trade +120 pips

Nice Pin bar showing strong rejection of 1.3850 confirmed by TDI cross.

EXIT - Initial SL 60 pips & TP 120 pips(2 times risk), Moved to BE once price move 20 pips in favor then 45 pips JSL.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 38 KB
  • #37,306
  • May 9, 2014 7:19am May 9, 2014 7:19am
GBPUSD...Targated TP weekly fib 50...Hope will hit soon
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 5-9-2014.png Size: 59 KB
Sad i'm not trying to understand PA
  • #37,307
  • May 9, 2014 7:25am May 9, 2014 7:25am
Nice Support and Resistance Indicator. Level from different time frame can be added on one chart by attaching indicator more than one times. It also shows the counts of price bounce. One can put value of Draw rectangle as Line to have support and resistance zone on as rectangle on chart.
Attached File(s)
File Type: ex4 SS_SupportResistance_v04c Line MTF.ex4   18 KB | 490 downloads
File Type: mq4 SS_SupportResistance_v04c Line MTF.mq4   27 KB | 516 downloads
  • #37,308
  • May 9, 2014 7:30am May 9, 2014 7:30am
EURJPY H1 trade today => +50 pips

Entered and exited in two stages explained on the chart.

Looking at EURAUD and EURJPY I decided this morning to take only the EURJPY trade because of better stop level. In hindsight EURAUD would have had the better pips performance (according to the bigger risk / stop level) - that was the price.

After the small and often choppy movements of the last 2-3 weeks, I am very happy to reach the 50 pips target. Currently the EUR fights against the S/R level from end of march / beginning april.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-05-09 14.00 EURJPY H1 - profit.png Size: 144 KB
fxFox (all times in my charts are GMT+1)
  • #37,309
  • May 9, 2014 7:38am May 9, 2014 7:38am
Been a really good night and day, all thanks to Bizzle coaching me in the art of how to look at the TDI I'll post the rest of the charts a bit later on when I get back, but a very fast +50 on Ucad helped by news.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcadmh1.png Size: 25 KB
Click to Enlarge Name: usdcadmh1(2).png Size: 24 KB
  • #37,310
  • May 9, 2014 7:52am May 9, 2014 7:52am
And an H4 trade on GU that took a bit longer +100
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdmh4.png Size: 25 KB
Click to Enlarge Name: gbpusdmh4(2).png Size: 25 KB
  • #37,311
  • Edited 8:16am May 9, 2014 7:54am | Edited 8:16am
Quoting manoj_3986
Nice Support and Resistance Indicator. Level from different time frame can be added on one chart by attaching indicator more than one times. It also shows the counts of price bounce. One can put value of Draw rectangle as Line to have support and resistance zone on as rectangle on chart. {file} {file}
Nice...Good one...Thanks

Edit.....Visualization....problem
Sad i'm not trying to understand PA
  • #37,312
  • May 9, 2014 8:35am May 9, 2014 8:35am
Quoting lastingwell
And an H4 trade on GU that took a bit longer +100 {image} {image}
Oh I see what you did there, you went short on the TDI bounce as it also crossed through the MBS line.

The bounce being a last test of that supply/resistance area above.

Cool.
  • #37,313
  • May 9, 2014 9:16am May 9, 2014 9:16am
Quoting lastingwell
And an H4 trade on GU that took a bit longer +100 {image} {image}
Exceptional trading LW

Galz rule
.... laughing all the way to the bank
  • #37,314
  • May 9, 2014 10:21am May 9, 2014 10:21am
Quoting itsallover
{quote} Exceptional trading LW Galz rule
Thanks Kelly, and yes I think we do

Here are the rest for today. +50 taken on each.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadjpymh1.png Size: 24 KB
Click to Enlarge Name: gbpnzdmh1.png Size: 26 KB
Click to Enlarge Name: gbpjpymh1.png Size: 24 KB
  • #37,315
  • May 9, 2014 10:31am May 9, 2014 10:31am
Quoting lastingwell
{quote} Thanks Kelly, and yes I think we do Here are the rest for today. +50 taken on each. {image} {image} {image}
Easy money well done
Give yourself a chance and trade it like it's layed out...
  • #37,316
  • May 9, 2014 10:33am May 9, 2014 10:33am
Quoting Bizzzle
{quote} Easy money well done
All down to you Bizzle thank you
  • #37,317
  • May 9, 2014 10:33am May 9, 2014 10:33am
took some out before leaving house and on return target set just above S2 got hit. A/U short looking good too. Has been a good day so far
Attached Image (click to enlarge)
Click to Enlarge Name: pic42.png Size: 55 KB
the cautious seldom err....C
  • #37,318
  • May 9, 2014 12:37pm May 9, 2014 12:37pm
Quoting fxFox.mb
{quote} Hi nsscott, excuse me for answering that late - I just saw your question and didn't look, if someone answered it yet. If you use the normal TDI and specify 1 in Price_type, the TDI is calulated on the open price of the candles. If you have a look at the datawindow you'll see, that the TDI values do not change during the currently building candle. But in hindsight this TDI looks ussually similar as the close price based TDI, except there is a shifting of one bar. And that is clear, because of ussually the close of candle #1 = open of candle...
Hey FxFox,

Thanks a lot. This really clears it up for me!
  • #37,319
  • May 9, 2014 12:55pm May 9, 2014 12:55pm
Quoting lastingwell
{quote} Thanks Kelly, and yes I think we do Here are the rest for today. +50 taken on each. {image} {image} {image}
Amazing results
  • #37,320
  • May 9, 2014 1:02pm May 9, 2014 1:02pm
Quoting omonisha
{quote} Nice...Good one...Thanks Edit.....Visualization....problem
Dear Omonisha,

I can not get your point of visualization problem. If you don't mind, can you please elaborate the same.

Thanks
Manoj
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