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Trading Made Simple

  • #42,841
  • Oct 28, 2014 4:35am Oct 28, 2014 4:35am
By the way is half term in much of UK at the moment, so London session could be quieter. Also FOMC tomorrow (wednesday)
  • #42,842
  • Oct 28, 2014 4:36am Oct 28, 2014 4:36am
Quoting likica
{quote} I was in GJ mess (short on M15), reached 20 then stopped out with small loss {image}
well, I have a loss -19pips too on this one. That was a risky trade with D 10EMA and Day Open as support.

Now we wait to see if we get a buy setup above the D 10EMA and Day Open.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY 28 Oct H1 trade closed.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,843
  • Oct 28, 2014 4:41am Oct 28, 2014 4:41am
GBPAUD 28 Oct H1 trade TOK_5H.

Just after eating their sushi lunch, traders get bored so they must trade. Seeing AUD was bullish this morning, and with a nice 3-bar bearish pattern showing up, too good to miss such setups at support and resistance.
Now we wait to see if GBP regain its strength and look for GJ buy.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD 28 Oct H1 Tok_5H.png Size: 34 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,844
  • Oct 28, 2014 4:56am Oct 28, 2014 4:56am
AUDJPY 28 Oct H1 TOK_5H breakout trade.

With the UK DST change, there is s longer period between Tokyo Open and London Open, this is when I look for TOK_5H trade.
Keep things simple, when we see a narrow range first 5 hours Tokyo session, we look for setups and trade away from the Day Open.
Always use TMS golden rule - TDI confirm all the Price Action.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY 28 Oct H1 Trade TOK_5H.png Size: 35 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,845
  • Oct 28, 2014 5:04am Oct 28, 2014 5:04am
I see short term weaker USD, so look to buy EU, GU ...with TMS H1
GJ makes its move up.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,846
  • Oct 28, 2014 5:06am Oct 28, 2014 5:06am
Hi Fellows,

  1. Bought USDJPY in a uptrend above TL, EMA200 with TDI crosses in a good location. I'm half out around RN with +10pips now (maybe too soon but in this choppy market I'm more careful).
  2. Just shorted NZDUSD with break of TL below RN & having a nice cross in TDI. Besides if I'm right that was a PCRF!

Yours

Attached Image(s) (click to enlarge)
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  • #42,847
  • Oct 28, 2014 5:09am Oct 28, 2014 5:09am
Quoting emmanuel7788
I see short term weaker USD, so look to buy EU, GU ...with TMS H1 GJ makes its move up.
Oh my God... Am I against you Emmauel
  • #42,848
  • Oct 28, 2014 5:20am Oct 28, 2014 5:20am
Quoting Kouroushi
{quote} Oh my God... Am I against you Emmauel
Its also worth checking to see where Dollar Index is in relation to major, supply and demand zones, before trading GU, AU, EU etc. USDCHF can also be used as a kind of proxy for the Dollar Index (and mirror of EU).
  • #42,849
  • Oct 28, 2014 5:23am Oct 28, 2014 5:23am
Quoting Kouroushi
{quote} Oh my God... Am I against you Emmauel

No worries, we may be looking at different time periods. When the UJ buying stops, then we re-look at the overall again.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,850
  • Oct 28, 2014 5:27am Oct 28, 2014 5:27am
GBPUSD H1 ,
it is now LO+2 hours

Pull back candle omn H1 seen,...wait!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 28 Oct H1 PB candle.png Size: 37 KB


what are the risks for this potential buy setup?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,851
  • Oct 28, 2014 5:32am Oct 28, 2014 5:32am
Quoting eelfranz
... I always like to have the E/U, G/U and A/U side by side on top plus one more chart. Those three charts tend to move together in the same direction. So if I see a set up on one I usually find a set up on one or both on the other pairs. I've made a lot of pips trading all three at the same time. I usually include 2-3 Japaneese charts... a Usd/Cad chart. Always end up with 8 charts on one page. Dean trades these on top...e/u, g/u e/j, a/u left to right and these below... left to right... u/chf, u/j, g/j , u/cad. Setting them up that way generally...
As Big E said in post#63 above, the three amigos usually ride together but these days they do not do so often.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,852
  • Oct 28, 2014 5:35am Oct 28, 2014 5:35am
Quoting MrAussieFX
Lost -37 pips to EA h1 yesterday. I lost my patience yesterday and paid the price. My plan for EA today {image} Feel free to comment and leave suggestions. Kindest Regards
I've been watching the EA and you've been right so far it just tested yesterdays low and has now continued below it!! Well done nice analysis!!
How much further down it will go I guess we will have to wait and see!!
Learning is all about about asking the right questions!
  • #42,853
  • Oct 28, 2014 5:37am Oct 28, 2014 5:37am
Quoting emmanuel7788
GBPUSD H1 , it is now LO+2 hours Pull back candle omn H1 seen,...wait! {image} what are the risks for this potential buy setup?
Emmanuel,
In Pinbars or PCRFs it's almost impossible to have a TDI cross after the 3rd candle close? Am I right? if so, do you trade them using lower TF's TDI cross?
GBPUSD is a good example right now...
  • #42,854
  • Oct 28, 2014 5:38am Oct 28, 2014 5:38am
Quoting emmanuel7788
GBPUSD H1 , it is now LO+2 hours Pull back candle omn H1 seen,...wait! {image} what are the risks for this potential buy setup?
None at all for those of us prepared to get stuck in on the M1 chart (yes the M1 chart!). We can see responsive buyers stepping in and liquidity building below and 13+ so pips with nice momentum candles on the pullback into demand.

Attached Image (click to enlarge)
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  • #42,855
  • Oct 28, 2014 5:41am Oct 28, 2014 5:41am
GBPCAD. Broke below Double top
Attached Image (click to enlarge)
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Sad i'm not trying to understand PA
  • #42,856
  • Oct 28, 2014 5:47am Oct 28, 2014 5:47am
Quoting emmanuel7788
AUDJPY 28 Oct H1 TOK_5H breakout trade. With the UK DST change, there is s longer period between Tokyo Open and London Open, this is when I look for TOK_5H trade. Keep things simple, when we see a narrow range first 5 hours Tokyo session, we look for setups and trade away from the Day Open. Always use TMS golden rule - TDI confirm all the Price Action. {image}
Bit of a dangerous or 'less probable trade' to take IMO. How often do the break out trades succeed? What is also relevant is the overall market structure which preceded the move. Namely the build up of liquidity and stops during the Asian session.

Break out during Frankfurt or London open could quite easily be a 'false flag' as I'm sure quite a few on here can testify. We have no way of knowing the order books of the big players.

With a break out trade, always worth waiting for the pullback, there will always be one, even if you have to go down to lower time scale chart to see it.

Trading is one of the most highly paid professions in the world, and if it could actually be reduced to a single pattern formation, or simply a red line crossing over green, then we could all get jobs at Deusche Bank!
  • #42,857
  • Oct 28, 2014 6:17am Oct 28, 2014 6:17am
GBPJPY 28 Oct H1 trade.
Price did not close below the Day Open.
Previous Day was bullish closed.
Waited for the move, a bullish engulfing bar BUEB as the setup.

Trading away from the 50EMA and Day Open.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY 28 Oct H1 buy trade.png Size: 40 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,858
  • Oct 28, 2014 6:28am Oct 28, 2014 6:28am
AU 4 Hour

30 pips risk 70 pips TP

Stop are now at BE
Attached Image (click to enlarge)
Click to Enlarge Name: AU 28-10.png Size: 33 KB
Give yourself a chance and trade it like it's layed out...
  • #42,859
  • Oct 28, 2014 6:31am Oct 28, 2014 6:31am
Quoting Kouroushi
{quote} Emmanuel, In Pinbars or PCRFs it's almost impossible to have a TDI cross after the 3rd candle close? Am I right? if so, do you trade them using lower TF's TDI cross? GBPUSD is a good example right now...
The TDI slope is also what I look at beside the green cross red. Sometimes we get a TDI green bounce off the red. These are the conditions which Big E mentioned in many of his trading charts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #42,860
  • Oct 28, 2014 6:38am Oct 28, 2014 6:38am
Quoting reeeen4
{quote} Easier said then done ... been a really bad month with trading for me. I might have to go back to demo trading until I sort myself out.

Yup, not easy thing to do.
You may need to look at your Exit Strategy and see if something can be done there.4
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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