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Trading Made Simple

  • #42,781
  • Oct 27, 2014 5:32am Oct 27, 2014 5:32am
Quoting Kouroushi
{quote} Thank you WDays, So the trade I took right now is kind of a PCRF I suppose. I had a Pinbar (PCRF) below RN with H1 TDI hooking down & H4 green line stepping down. though, H4 TDI is not crossed down & I guess today would be another usual Monday with lots of fakeouts. {image}
Welll yes and no, technically it is one, but with the bull move having flattened overnight, I guess I'd be reluctant to take it. On a sidenote, for me mondays are pretty crappy low volatility days. If you look back in time, you'll see pairs rarely trend on a monday, usually it's when markets consolidate a bit, trying to assimilate all the stuff that went on over the weekend and the previous week. I have to have a really great looking TDI to take a trade on a monday, I had a decent H4 cross this morning and it's the only reason I ever went in, with an early exit before IFO in mind. What's more, you can only count on market volume at this time of day if LO has set the tone for a move typically, which is why I only trade market opens and stay put the rest of the day in case I'm in no trade.

And lastly, don't worry, the H4 TDI doesn't have to cross for you to take an H1 trade. The h4 tdi is a guide, if it's making steps up, then you shouldn't trust a cross to the downside on your hourly TDI because you're being warned that H4 is still not exhausted. If you get a step down on your higher timeframe TDI, though, you can expect the move to weaken and at some point reverse. Like I already mentioned, a cross on the htf TDI or a lack thereof simply allows me to set a more realistic target for my trade.
  • #42,782
  • Oct 27, 2014 5:37am Oct 27, 2014 5:37am
Quoting Kouroushi
{quote} Thank you WDays, So the trade I took right now is kind of a PCRF I suppose. I had a Pinbar (PCRF) below RN with H1 TDI hooking down & H4 green line stepping down. though, H4 TDI is not crossed down & I guess today would be another usual Monday with lots of fakeouts. {image}
GBPUSD H1 is tricky right now.
Friday was a bullish move up and now we see H1 pin bar.
We have the 200EMA and Day 10EMA below.
You could be setup by the market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,783
  • Oct 27, 2014 5:46am Oct 27, 2014 5:46am
Quoting WDays
{quote} Welll yes and no, technically it is one, but with the bull move having flattened overnight, I guess I'd be reluctant to take it. On a sidenote, for me mondays are pretty crappy low volatility days. If you look back in time, you'll see pairs rarely trend on a monday, usually it's when markets consolidate a bit, trying to assimilate all the stuff that went on over the weekend and the previous week. I have to have a really great looking TDI to take a trade on a monday, I had a decent H4 cross this morning and it's the only reason I ever went...
Quoting emmanuel7788
{quote} GBPUSD H1 is tricky right now. Friday was a bullish move up and now we see H1 pin bar. We have the 200EMA and Day 10EMA below. You could be setup by the market.
Thank you all,
I HATE MONDAYS
  • #42,784
  • Oct 27, 2014 5:47am Oct 27, 2014 5:47am
Quoting toledoFX
{quote} You can read this pdf, it's an explanation of PCRF from Phx's posts with examples. Hope this helps. {image}
Very helpful, now I got it
  • #42,785
  • Oct 27, 2014 6:34am Oct 27, 2014 6:34am
EURUSD 27 Oct H1 trade.
Unusual for the rally during the Asian session and then it stalled.
Look for consolidation, then Price Action.
Trade away from the 200EMA and Day 10EMA,
make sure there is room for scale-out and TP.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 27 Oct H1 trade pre-FO.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,786
  • Oct 27, 2014 6:39am Oct 27, 2014 6:39am
When trading the 3-bar PCRF pattern, must pay attention to each of the 3 bars high and low.
The 3rd bar must close lower than the 1st bar for Sell reversal setup and ......the opposite for Buy reversal.
Also do the candle count, to see if the 3rd bar will close the H4 candle.

Here is an old post example.
Attached Image (click to enlarge)
Click to Enlarge Name: PCRF 3-Bar CS Pattern.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,787
  • Oct 27, 2014 6:42am Oct 27, 2014 6:42am
Quoting emmanuel7788
EURUSD 27 Oct H1 trade. Unusual for the rally during the Asian session and then it stalled. Look for consolidation, then Price Action. Trade away from the 200EMA and Day 10EMA, make sure there is room for scale-out and TP. {image}
Dear Emmanuel,
Congrats,
You call it a Master candle when it simply covers next 2 or more candles? or these 2 or more candles have to be covered by the previous one too?
  • #42,788
  • Oct 27, 2014 6:48am Oct 27, 2014 6:48am
Quoting Kouroushi
{quote} Dear Emmanuel, Congrats, You call it a Master candle when it simply covers next 2 or more candles? or these 2 or more candles have to covered by the previous one too?
Hi Kouroushi,

Thanks.
At minmum it must cover 3 bars after that 'mother candle'.

I recall someone posted some documents explaining the master candle trading.

Let me look in the attachements.

Regards,

Edit: here it the link,
http://www.forexfactory.com/showthre...85#post6993185
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,789
  • Oct 27, 2014 6:58am Oct 27, 2014 6:58am
Quoting emmanuel7788
When trading the 3-bar PCRF pattern, must pay attention to each of the 3 bars high and low. The 3rd bar must close lower than the 1st bar for Sell reversal setup and ......the opposite for Buy reversal. Also do the candle count, to see if the 3rd bar will close the H4 candle. Here is an old post example. {image}
Its the fundamental market structure, and its participants that create these patterns, which I'm more interested in.
  • #42,790
  • Oct 27, 2014 7:03am Oct 27, 2014 7:03am
Nothing worth my while in the afternoon, hope tomorrow brings something better I'm open for questions and helping others though
  • #42,791
  • Oct 27, 2014 7:05am Oct 27, 2014 7:05am
GBPAUD H1 NYO.... nothing to trade.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD 27 Oct H1 NYO.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,792
  • Oct 27, 2014 7:09am Oct 27, 2014 7:09am
Quoting WDays
Nothing worth my while in the afternoon, hope tomorrow brings something better I'm open for questions and helping others though
Likewise.... Went short on EA H1 after a break below the LO candle. Went almost 30 pips in my favour but eventually stopped me out at BE.

That's me done for today
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 23 KB
Focus on the process and the profits will follow
  • #42,793
  • Oct 27, 2014 7:31am Oct 27, 2014 7:31am
Quoting Ballistical
{quote} Likewise.... Went short on EA H1 after a break below the LO candle. Went almost 30 pips in my favour but eventually stopped me out at BE. That's me done for today {image}
The prime reason I went long on EA was the triple bottom on H1, exactly here the bear candle ended - price was coming up from it, meaning it was still a hot zone. I was eyeing GBPCAD, but deemed it too weak to long, and I had my eye on GBPJPY, but it's still stuck in a triangle. GCAD looked like a half decent NYO long, but when I looked closer, I saw it took 3 candles to swing point C, and it took 7 or more to break and close above B. Despite the shallow retracement, it feels like it's going to be a painful and slow climb up. What's more, while the most recent trend is up, the prevailing trend is down and even though I had room to lock breakeven between the .50 and the .618 fibos, I just didn't want to put my eggs in that basket. Come tomorrow, I am sure I'd find a good opportunity, possibly a 100 pip trade (?)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADH1.png Size: 64 KB
  • #42,794
  • Oct 27, 2014 7:56am Oct 27, 2014 7:56am
hello everybody,
just a curiosity question: is there anyone trading TMS in the very simple original way ?

Inoticed the "simple" charts became a bit funky with indicators and different setups, which is not the initial eelfranz' idea. no argue about it eh ... just noticing.
Everyone then should keep on working in their best way and in the fashion that fits best for them.

green pips everyone!
Lorenzo
  • #42,795
  • Oct 27, 2014 8:03am Oct 27, 2014 8:03am
Quoting emmanuel7788
GBPAUD H1 NYO.... nothing to trade. {image}
Hi emmanuel,

My trading platform doesn't have GBPAUD pair but i want to ask what do you mean by "momentum around 200EMA/10 EMA/1.8300"? Able to show us examples?

Because i saw a PCRF pattern using 200EMA, day 10EMA and 1.8300 as a resistance.

Thanks and regards,
  • #42,796
  • Oct 27, 2014 9:15am Oct 27, 2014 9:15am
EJ_H1 short trade at second hour after LO on the break of LO first hour candle along TDI cross, closed with + 29 pips
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 42 KB
I Have Learned to Take Some Losses to Make Profits
  • #42,797
  • Oct 27, 2014 9:21am Oct 27, 2014 9:21am
Quoting TheScorpS
EJ_H1 short trade at second hour after LO on the break of LO first hour candle along TDI cross, closed with + 29 pips {image}
Be careful scorps, changed back to regular time, so this IS the LO candle, not LO+1 And because it takes 1 week for everyone to go back to regular time, NYO is 1h earlier (according to the new time)!
  • #42,798
  • Oct 27, 2014 9:33am Oct 27, 2014 9:33am
Is anyone in on the break of the EA H1 double top?

I'm sticking to LO at the moment but it looks like this is moving well
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 22 KB
Focus on the process and the profits will follow
  • #42,799
  • Oct 27, 2014 9:41am Oct 27, 2014 9:41am
Quoting Ballistical
Is anyone in on the break of the EA H1 double top? I'm sticking to LO at the moment but it looks like this is moving well {image}
I m in
Appreciation is the key to wealth and happiness
  • #42,800
  • Oct 27, 2014 9:44am Oct 27, 2014 9:44am
Quoting WDays
{quote} Be careful scorps, changed back to regular time, so this IS the LO candle, not LO+1 And because it takes 1 week for everyone to go back to regular time, NYO is 1h earlier (according to the new time)!
Yes I was aware of that, but totally forgot about it, thanks for reminding me

EU and EA both PCRF butt didn't take any, so hope you guys got the formation correctly and took actions
I Have Learned to Take Some Losses to Make Profits
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