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Trading Made Simple

  • #38,021
  • Jun 3, 2014 7:13pm Jun 3, 2014 7:13pm
Emmanuel, why is 1.3610 important?
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the cautious seldom err....C
  • #38,022
  • Jun 3, 2014 7:25pm Jun 3, 2014 7:25pm
Quoting pips29
Emmanuel, why is 1.3610 important? {image}
Hi pips29.

The market has a strange behviour in remembering the last time it pushed down 600 pips in one month from that level. So it is cautious again when near this 1.610 level, anyway it is s Big Round Number 1.3600 a psych level some call it.
This week it make a strong break on H4 of that level, and pull back very fast. Two consecutive high volume bars, and now consolidates.
My preferred high probability for today' trade would be H1 setup buy or a H4 TDI bounce.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #38,023
  • Jun 3, 2014 7:26pm Jun 3, 2014 7:26pm
if you like to read in depth about ABCD and AB=CD look in here http://www.forexfactory.com/showthread.php?t=402253, market moves in symmetry thats when the market is in harmony it just moves in legs ie ABCD, when an AB leg forms lets say of 50 pips followed by a retracement to fib level ie 38, then we can anticipate the next move based on structure and the completion of CD leg to be almost identical and exact ie another 50 pips move
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I Have Learned to Take Some Losses to Make Profits
  • #38,024
  • Jun 3, 2014 7:43pm Jun 3, 2014 7:43pm
Quoting Tanglewood
{quote} Same on all the NZD crosses. News out on lower milk prices. New Zealand is the biggest producer of milk exporting to china etc.
If then, Why this particular NEWS release is missing from FF?
  • #38,025
  • Jun 3, 2014 7:50pm Jun 3, 2014 7:50pm
Quoting Tanglewood
{quote} Same on all the NZD crosses. News out on lower milk prices. New Zealand is the biggest producer of milk exporting to china etc.
DEMYSTIFY ! !

Quoting adikashyap
{quote} If then, Why this particular NEWS release is missing from FF?
If I'm a FOREX website owner, I wouldn't have suspected a news about milk personally, lol.
Everything you can imagine, is real - Pablo Picasso
  • #38,026
  • Jun 3, 2014 7:52pm Jun 3, 2014 7:52pm
Quoting emmanuel7788
{quote} Hi pips29. The market has a strange behviour in remembering the last time it pushed down 600 pips in one month from that level. So it is cautious again when near this 1.610 level, anyway it is s Big Round Number 1.3600 a psych level some call it. This week it make a strong break on H4 of that level, and pull back very fast. Two consecutive high volume bars, and now consolidates. My preferred high probability for today' trade would be H1 setup buy or a H4 TDI bounce. regards, EMMANUEL
Thanks for explaining. With ECB conference on Thursday, I reckon I have to be very alert with what MM are doing.Tough pair to take on with the experience I have. GL with your plan
the cautious seldom err....C
  • #38,027
  • Jun 3, 2014 8:00pm Jun 3, 2014 8:00pm
Will leave this trade on. Aussie Gdp in 30 mins. Going to bed now (2am)
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the cautious seldom err....C
  • #38,028
  • Jun 3, 2014 8:24pm Jun 3, 2014 8:24pm
EURJPY is reaching a very strong daily price flip zone.
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Everything you can imagine, is real - Pablo Picasso
  • #38,029
  • Jun 3, 2014 8:41pm Jun 3, 2014 8:41pm
Caught EURAUD. The price started to move down slowly 2 minutes before the news so I put a pending below it.
It missed my TP by 8 pips at the low channel line. Not sure what to do yet, currently at +25 pips and moved stoploss to break even.

EDIT - decided to close at +23. It's moving up too fast.
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GBPAUD would have been a better trade since the pair seems more bearish.
1.800 would've been a good target which would be hit in an instant for even more pips (60 or so pips).
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Everything you can imagine, is real - Pablo Picasso
  • #38,030
  • Jun 3, 2014 8:47pm Jun 3, 2014 8:47pm
Done for the morning. See you guys @LO
Everything you can imagine, is real - Pablo Picasso
  • #38,031
  • Edited 9:59pm Jun 3, 2014 8:57pm | Edited 9:59pm
Quoting emmanuel7788
{quote} Hello adikashyap, I do not have the correct answers. But I learned that what moves the market is not the news but the market' reaction to news. It is the smart money which can move the market. Takes time to follow the behaviour of currency pairs. I stay away from CHF cross pairs becasue of the SNB factor. NZDCHF daily range average is only 38 to 52pips, better to trade NZDUSD. Therefore I do not trade the NZDCHF pair. You need to know that both AUD and NZD are commondity currencies and are correlated. Being a technical trader, I do my top...
Thanks a ton ...
You are such a reliable mentor ...
God bless you
  • #38,032
  • Jun 3, 2014 9:15pm Jun 3, 2014 9:15pm
Quoting emmanuel7788
{quote} Hello adikashyap, I do not have the correct answers. But I learned that what moves the market is not the news but the market' reaction to news. It is the smart money which can move the market. Takes time to follow the behaviour of currency pairs. I stay away from CHF cross pairs becasue of the SNB factor. NZDCHF daily range average is only 38 to 52pips, better to trade NZDUSD. Therefore I do not trade the NZDCHF pair. You need to know that both AUD and NZD are commondity currencies and are correlated. Being a technical trader, I do my top...


If the H4 candle is bullish, we have to follow up direction on H1 chart, right?
PROredart is not PRO trader
  • #38,033
  • Jun 3, 2014 10:18pm Jun 3, 2014 10:18pm
USDCAD completes AB=CD, +15 pips.
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Everything you can imagine, is real - Pablo Picasso
  • #38,034
  • Edited Jun 4, 2014 12:13am Jun 3, 2014 11:51pm | Edited Jun 4, 2014 12:13am
Dear Emmanuel Sir,
1. How many terminals do you use to plant and use all your indicators? As I know, you use TDI, Stoch, Fibo, ATR & ADR, PA and few other indicators for your analysis. Having all these Indi on a single terminal / chart might confuse more than Conclude .... My thoughts though ...
2. Can you PLEASE educate us ... with charts on each of your indicators, their respective values (for example different traders use different values for ATR, ADR etc) and how to analyse them?
3. It will do a world of good if you can Educate us ... In chronological order ... 1st step ... 2nd step .. How you evaluate each of your indicators to take a trade ... In my case, 1st step is TDI confirmation, 2nd step stocho, 3rd step is nearest S/R zones and take position ...
4. Do you have a single plan for whole week and break them in to pieces day by day or do you have separate plans for week / day / 4H? What influences each and / or all these decisions? Few times you did talk about plan A, B and C ... Can you please shed little more light on these plans?
5. I know I'M ASKING TOO MUCH ...But as you rightly said ... who said trading is simple and easy ...
Eagerly waiting for a Lengthy education and thanks in advance ....
  • #38,035
  • Jun 4, 2014 12:59am Jun 4, 2014 12:59am
Quoting adikashyap
Dear Emmanuel Sir, 1. How many terminals do you use to plant and use all your indicators? As I know, you use TDI, Stoch, Fibo, ATR & ADR, PA and few other indicators for your analysis. Having all these Indi on a single terminal / chart might confuse more than Conclude .... My thoughts though ... 2. Can you PLEASE educate us ... with charts on each of your indicators, their respective values (for example different traders use different values for ATR, ADR etc) and how to analyse them? 3. It will do a world of good if you can Educate us ... In chronological...
Nobody said trading is easy, but it doesn't have to be that difficult. You would do yourself more good if you take a weekend to look through all Emmanuel's posts, just click on his name and then on post replies. He has posted everything you could possibly want to know about his trading and having it repeated again on the thread would be totally unnessary in my opinion.
  • #38,036
  • Jun 4, 2014 1:36am Jun 4, 2014 1:36am
Quoting lastingwell
{quote}Nobody said trading is easy, but it doesn't have to be that difficult. You would do yourself more good if you take a weekend to look through all Emmanuel's posts, just click on his name and then on post replies. He has posted everything you could possibly want to know about his trading and having it repeated again on the thread would be totally unnessary in my opinion.
I did tried doing it ... But he has covered so many diversified aspects ... in various places ... it is like a b g b f q c ... I think you got what i mean ...
It will be great and simple ... If all his knowledge is in an order ... Step by Step .. Can help all newbies a lot better ... IMHO though ....
Thanks any way ...
IMO, this thread alone is much better than most of the FX sites put together ....
  • #38,037
  • Jun 4, 2014 1:57am Jun 4, 2014 1:57am
Adikashyap - I've been through that frustration and confusion before. Best I can say is to take your time and lay down the foundations first.

I recommend the school of pips @Babypips. It's already broken down into small little steps for you to take.

http://www.babypips.com/school/

Take your time. Once you're familiar with the basics, you'll be able to see how all the puzzle pieces work together when seniors show you their analysis.
Everything you can imagine, is real - Pablo Picasso
  • #38,038
  • Jun 4, 2014 2:24am Jun 4, 2014 2:24am
Quoting Direwolf
Adikashyap - I've been through that frustration and confusion before. Best I can say is to take your time and lay down the foundations first. I recommend the school of pips @Babypips. It's already broken down into small little steps for you to take. http://www.babypips.com/school/ Take your time. Once you're familiar with the basics, you'll be able to see how all the puzzle pieces work together when seniors show you their analysis.
Thanks mate.
I have gone though babypips.
I find this thread more educative .... Babypips writes static rules ... here You, Emmanuel and other seniors are educating the same rules in dynamic ... day to day market conditions ... I can relate myself more ...
Here my questions are answered in a manner and language that I can understand easier ....
The more sites i go through ... The more references i go through ... my confusions become messier ...
As I said different people use different values for different indicators ... Without actually teaching how to use them ... in other sites i mean ...
Here that is not the case ... Each chart comes with detailed explanation ... Making it easier to understand ... comprehend ... analyse ... and learn ...
After I started following this thread religiously ... I unsubscribed from most of the FX sites ...including FPA ....
It is not that I was not making profits earlier ...
Now, my profits are bigger ... Moved higher Tf's ... lesser stress ...
Can not thank less for Big E and all you guys for my stress free profits ....
  • #38,039
  • Jun 4, 2014 3:17am Jun 4, 2014 3:17am
GBPJPY Week23 4Jun H4 trade.
The only decent H4 setup I see in my pairs.
It is counter trend to the recent bullish rally, so I must protect early.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #38,040
  • Jun 4, 2014 3:22am Jun 4, 2014 3:22am
Quoting emmanuel7788
GBPJPY Week23 4Jun H4 trade. The only decent H4 setup I see in my pairs. It is counter trend to the recent bullish rally, so I must protect early. {image}
I'm short from 171.73 .... SL 172 ... TP 170.50 ...
Your comments please ...
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