Beyond the Candles | Page 96 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

M candles / Custom candles for second charts 1 reply

Calculating only buy candles vs sell candles 2 replies

Platform which enables the rewinding of candles 3 replies

Missing candles? 1 reply

I need more candles! 4 replies

Attachments: Beyond the Candles
Exit Attachments

Beyond the Candles

  • #1,901
  • Jun 4, 2014 9:38am Jun 4, 2014 9:38am
Let's see a very simple trading situation withc occurs very often..the P closes above a RM...after the information we know that we have to wait for the P to RET on the old R that now will act as S with buyers conformation at it :
Attached Image (click to enlarge)
Click to Enlarge Name: ebay.png Size: 52 KB
Nothing personal,just business
  • #1,902
  • Jun 5, 2014 1:58am Jun 5, 2014 1:58am
TAHO

The P closed above the RM giving us the information of buyers superiority. The P did RET on the old R and now we expect for bullish PA confirmation with the TG as on the chart:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: TAHO-M.png Size: 47 KB
Click to Enlarge Name: TAHO-D.png Size: 55 KB
Nothing personal,just business
  • #1,903
  • Jun 6, 2014 10:07am Jun 6, 2014 10:07am
EUR/GBP, price closes below strong S/R line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbp-mn1-armada-markets.png Size: 46 KB
Click to Enlarge Name: eurgbp-w1-armada-markets.png Size: 58 KB
Click to Enlarge Name: eurgbp-d1-armada-markets.png Size: 54 KB
  • #1,904
  • Jun 8, 2014 4:09pm Jun 8, 2014 4:09pm
Hi savoy...the last weekly candle closed as an IPB after a bullish 2WPB..that tells us that the P is making a RM within the 2WPB's range before reaching the 0.8175:
Attached Image (click to enlarge)
Click to Enlarge Name: EG.png Size: 84 KB
Nothing personal,just business
  • #1,905
  • Jun 9, 2014 2:22am Jun 9, 2014 2:22am
EURPLN..the P ranged within the triangle and succeded to closed below of it giving us the sellers information...at this point all we have to do is waiting for a D confirmation that occured with the BEOB that closed below the small D RM....this is the safiest way to trade and connect the D PA with higher TFs informations:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EP.png Size: 88 KB
Click to Enlarge Name: EPD.png Size: 88 KB
Nothing personal,just business
  • #1,906
  • Jun 10, 2014 6:13am Jun 10, 2014 6:13am
On AUDCHF pair we had a very interesting situation that it really is one of my favorite....when the P turns back in to the pld RMs....where do we wait for the P to make its RET ?....where is the final TG ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDCHF-M.png Size: 73 KB
Click to Enlarge Name: AUDCHF-D.png Size: 70 KB
Nothing personal,just business
  • #1,907
  • Jun 10, 2014 8:36am Jun 10, 2014 8:36am
EURNZD...if the P will close below the 1.5811 then the 1.52 become the final TG with MM at 1.5478:
Attached Image (click to enlarge)
Click to Enlarge Name: EA.png Size: 76 KB
Nothing personal,just business
  • #1,908
  • Jun 10, 2014 4:28pm Jun 10, 2014 4:28pm
First of all, thanks to everyone for writing, and most of all for fxgroup! I would like to encourage everyone to develop a common vision. It started with CFD was watching. I found the daily CFD chars are very difficult, but the weekly charts is very transparent, like the forex daily. I made a demo account at Saxo. Unfortunately, not too friendly to the Platform. But the good is (and MT4 Was also there) that you can do an Alert at levels. The idea that hundreds of CFD can be controlled if the set levels signals covering. I try to find Ranges/S/R and put an alert at the level. We don't need to watch all of the charts each weeks, the alerts give us a signal witch charts need more attention.
Find the stong S/R ont the M and do the trade on the W if you get a signal, is my idea. The rules are the same...
I post at first my signal idea, and the second pic. is my first trade(CCF:xase).
When somebody have already an alert system on mt4 (or on other platform), an when somebody knows a good MT4 broker (or other with alert opportunity) witch have more CFDs, please post it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 001.jpg Size: 110 KB
Click to Enlarge Name: ccf M.jpg Size: 76 KB
Click to Enlarge Name: ccf D.jpg Size: 112 KB
  • #1,909
  • Jun 11, 2014 2:14am Jun 11, 2014 2:14am
Nice trade Beertje....really proud of you !
Notice how the D RM formed and your BUOB at the RM's S is buyers confirmation after the M candle close above the level. Beeing in D RM be sure to take some MM decision once the P reaches the D RM's R in order to be in free trade.....NEVER close totally a profitable trade !
Nothing personal,just business
  • #1,910
  • Jun 11, 2014 9:36am Jun 11, 2014 9:36am
Sorry, off topic...i have looked to the Saxo CFD offer...what a huge commissions! 20 bucks for US Stocks...
  • #1,911
  • Jun 11, 2014 12:29pm Jun 11, 2014 12:29pm
Quoting Redbullish
Sorry, off topic...i have looked to the Saxo CFD offer...what a huge commissions! 20 bucks for US Stocks...
Yes, but I hope somebody knows a better broker...
  • #1,912
  • Jun 11, 2014 2:01pm Jun 11, 2014 2:01pm
Quoting Beertje
First of all, thanks to everyone for writing, and most of all for fxgroup! I would like to encourage everyone to develop a common vision. It started with CFD was watching. I found the daily CFD chars are very difficult, but the weekly charts is very transparent, like the forex daily. I made a demo account at Saxo. Unfortunately, not too friendly to the Platform. But the good is (and MT4 Was also there) that you can do an Alert at levels. The idea that hundreds of CFD can be controlled if the set levels signals covering. I try to find Ranges/S/R...
Very nice trade Beertje, really " classic " fxgroup !

Here is a CFD trade I am watching, it is BUND ( FGBL as German Future, similar to 10 y. Treasury Notes in the US ).

WPD : bearish engulfing.
WPG : looking for further confirmation and retest, levels 144.50, 144.00 ( this one is very fixated on round numbers ).

https://www.tradingview.com/x/CTckxK3q/

As far as serious brokers exist for CFD`s : it depends, if you are in Europe I would recommend Interactive Brokers ( their co.uk branch allows CFD trading for Non_US clients ).

MT4 brokers with good CFD offers are JFD ( Just Fair Trade ).

I am not affiliated with any of them, of course.

Thank you, if I see anything worthwhile regarding your vision, I will write.

M.
Be like water.
  • #1,913
  • Jun 12, 2014 1:14am Jun 12, 2014 1:14am
AUDJPY Monthly

We had this pair quite often and with some excellent teaching from fxgroup and dfumagalli.....I must admit I was expecting a stronger sellers move... down.

Thankfully I waited and instead came back to the M and W charts ----- as fxgroup says so often, WAIT for confirmation !

M.

Attached Image (click to enlarge)
Click to Enlarge Name: 2014-06-12_08-09_audjpy_M.png Size: 37 KB
Be like water.
  • #1,914
  • Jun 12, 2014 4:01am Jun 12, 2014 4:01am
Hi M

Nice to see that chart with its reading....I would like to offer you a different perspective in the same direction at the same result.
The P ( in overall evolution ) is into a big RM witch is made from other small 2 RMs below and above the ML ( middle level ) of the big RM ( box effect that together form a RM ) !
Attached Image (click to enlarge)
Click to Enlarge Name: AJ.png Size: 61 KB
Nothing personal,just business
  • #1,915
  • Jun 12, 2014 4:26am Jun 12, 2014 4:26am
Quoting msmarple
{quote} Very nice trade Beertje, really " classic " fxgroup ! Here is a CFD trade I am watching, it is BUND ( FGBL as German Future, similar to 10 y. Treasury Notes in the US ). WPD : bearish engulfing. WPG : looking for further confirmation and retest, levels 144.50, 144.00 ( this one is very fixated on round numbers ). https://www.tradingview.com/x/CTckxK3q/ As far as serious brokers exist for CFD`s : it depends, if you are in Europe I would recommend Interactive Brokers ( their co.uk branch allows CFD trading for Non_US clients...
Thanks! Very useful info!
  • #1,916
  • Jun 13, 2014 7:49am Jun 13, 2014 7:49am
[quote=msmarple;7529071]{quote}
Quote
Here is a CFD trade I am watching, it is BUND ( FGBL as German Future, similar to 10 y. Treasury Notes in the US )
What a pleasure coincidence...are you looking over my shoulder ? ...here is something interesting and simple for someone who study the price !
Attached Image (click to enlarge)
Click to Enlarge Name: DE10.png Size: 90 KB
Nothing personal,just business
  • #1,917
  • Jun 13, 2014 6:05pm Jun 13, 2014 6:05pm
[quote=fxgroup;7534734]
Quoting msmarple
{quote} {quote} What a pleasure coincidence...are you looking over my shoulder ? ...here is something interesting and simple for someone who study the price ! {image}
How do you manage your trades in this situation? when you trade the range market you will get a bad R/R. When you take 50% of your profit at the R level you make some money... My biggest question is, when the price reach the R level give you the stop in BE?
  • #1,918
  • Jun 14, 2014 9:41am Jun 14, 2014 9:41am
Quoting Beertje
How do you manage your trades in this situation? when you trade the range market you will get a bad R/R. When you take 50% of your profit at the R level you make some money... My biggest question is, when the price reach the R level give you the stop in BE?
I'll give you an answer on this.

1) FXGroup's method is very conservative, therefore profitability does not come from statistically enforcing a > 100% R:R but from having a lot of profitable trades in a row that offset the loss.

2) The preferred way to trade is to determine the targets on the monthly or weekly time frames and only using the daily for entries. Doing so, it's very easy to achieve 3:1 or 4:1.
  • #1,919
  • Jun 14, 2014 7:04pm Jun 14, 2014 7:04pm
Quoting dfumagalli
{quote} I'll give you an answer on this. 1) FXGroup's method is very conservative, therefore profitability does not come from statistically enforcing a > 100% R:R but from having a lot of profitable trades in a row that offset the loss. 2) The preferred way to trade is to determine the targets on the monthly or weekly time frames and only using the daily for entries. Doing so, it's very easy to achieve 3:1 or 4:1.
Thanks the answer, I understand you. But my biggest problem is, when I do my trade in BE at the R level ,I will be stopped out when the price retrace, but when I try to let it run often the market strike back and I have a loosing trade. The R/R in the box make bad R/R, it works only when you let the trade run over the box, or when you close half of your position, and let it run with your original stop.
  • #1,920
  • Jun 15, 2014 2:24am Jun 15, 2014 2:24am
Quoting Beertje
{quote} Thanks the answer, I understand you. But my biggest problem is, when I do my trade in BE at the R level ,I will be stopped out when the price retrace, but when I try to let it run often the market strike back and I have a loosing trade. The R/R in the box make bad R/R, it works only when you let the trade run over the box, or when you close half of your position, and let it run with your original stop.
First of all, you have lots of Forex pairs for a reason: pick the 2-3 that show the best, less risky, highest R:R setups.
Second, don't focus just on trading daily chart RMs, because those require so much tight money management that you HAVE to close part of the position as it gets to the first target (often it's the median or even directly the opposite support / resistance). In case of expecially tight RMs you have to setup an automatic take profit at the first target, in there you can't really let "profits run" without the risks you mentioned.

Try seeking monthly / weekly formed RMs (including triangles, flags etc), those have the space to allow for a more relaxed money management.
3 traders viewing now