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  • #43,021
  • Oct 30, 2014 1:45am Oct 30, 2014 1:45am
Quoting emmanuel7788
{quote}{quote} hi Likica, Stochastics and RSI show the same what the price above does. I also started many years ago using MACD, Stoch, RSI and MAs, those were the Cowabunga system days. I dropped each of them and now rely soley on the RSI data to for price strenght and momentum. With more experience, Stoch become another nice to have filter on our charts. New traders to TMS are encouraged to use the Stoch (8,3,3) as confirmation tool the way Big E used that after he tested more than 2 years. I like your Oil trading. regards,
Thanks for your encouragement, knowledge and support Emman.
Appreciation is the key to wealth and happiness
  • #43,022
  • Oct 30, 2014 1:48am Oct 30, 2014 1:48am
EA M15 H1 trade delivered 50green so far
Attached Image (click to enlarge)
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Appreciation is the key to wealth and happiness
  • #43,023
  • Oct 30, 2014 1:54am Oct 30, 2014 1:54am
Quoting likica
EA M15 H1 trade delivered 50green so far {image}
Very nice!

I missed the best entry on EA this morning. Huge move south on the LO candle.

Now watching now to see if it will break yesterday's low.
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Focus on the process and the profits will follow
  • #43,024
  • Oct 30, 2014 2:05am Oct 30, 2014 2:05am
Quoting emmanuel7788
{quote} Hi TSS, only 2 days left to go .... After last night's FOMC shake out, give the market time to settle down. Today is the last two trading days for this week 44 and also the last two trading days of this October month. I just had quick look at the Monthly charts candles and also the Weekly charts candles. We are trading the shadows / wicks of the MN candles and also most Weekly candles shadows. I don't expect the MN candle to close Flat end like Marubozu candles. Have not seen a Marubozu candle on MN and W1 for very long time. Preserve your...
Good advice EM. Bagged a good profit this week. Have a tendency to overtrade so will need to make sure I only take A++ trades. Besides, after such a huge move with the FOMC news yesterday, today may be choppy?
  • #43,025
  • Oct 30, 2014 2:12am Oct 30, 2014 2:12am
got the delivery of +30 green from EJ short, my entry was from M15
Attached Image (click to enlarge)
Click to Enlarge Name: EJ M15 H1 short Thu 30.10.14 +33.png Size: 71 KB
Appreciation is the key to wealth and happiness
  • #43,026
  • Oct 30, 2014 2:13am Oct 30, 2014 2:13am
Quoting Ballistical
{quote} Very nice! I missed the best entry on EA this morning. Huge move south on the LO candle. Now watching now to see if it will break yesterday's low. {image}
Quoting mact4
{quote} Good advice EM. Bagged a good profit this week. Have a tendency to overtrade so will need to make sure I only take A++ trades. Besides, after such a huge move with the FOMC news yesterday, today may be choppy?
Here is what I saw ealier tofday but since I stopped trading today, I did not take that nrIB4 alert.
FOMC drove price back to the key historical resistance 1.4395 also BRN 1.4400 and consolidates there.
The the IBs appear and one nrIB4, then later confirm later as Master Candle pattern.
The setup candle is the one which close below the MC also the new Darvas Box low.
This is valid setup with the TDI in our favour for short.
I know some traders do not take trade when TDI is above MBL, but look at the VB, it widens after being narrow range. Market volatility is good.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,027
  • Oct 30, 2014 2:25am Oct 30, 2014 2:25am
Quoting emmanuel7788
{quote} {quote} Here is what I saw ealier tofday but since I stopped trading today, I did not take that nrIB4 alert. FOMC drove price back to the key historical resistance 1.4395 also BRN 1.4400 and consolidates there. The the IBs appear and one nrIB4, then later confirm later as Master Candle pattern. The setup candle is the one which close below the MC also the new Darvas Box low. This is valid setup with the TDI in our favour for short. I know some traders do not take trade when TDI is above MBL, but look at the VB, it widens after being narrow...
Thanks Emmanuel,
I had this question regarding the MBL too. It's said that we could sell if TDI is below MBL, but when TDI crosses around overbought (>60) & above MBL, wouldn't be a good setup? Briefly I mean which is more important to sell, to have a cross near overbought or to have TDI below MBL?
Yours
  • #43,028
  • Oct 30, 2014 3:24am Oct 30, 2014 3:24am
EURAUD
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Sad i'm not trying to understand PA
  • #43,029
  • Oct 30, 2014 3:27am Oct 30, 2014 3:27am
Quoting likica
got the delivery of +30 green from EJ short, my entry was from M15 {image}
Very good, congrats on those ones
I Have Learned to Take Some Losses to Make Profits
  • #43,030
  • Oct 30, 2014 3:44am Oct 30, 2014 3:44am
I have been looking at the EA and I have noticed that it has traveled a total of 120pip's today and it has hit a very strong support and resistance line that it has stalled at. I've also noticed that the ADR is 102pip. My guess is that price is going to retrace now and head back up again since it has already reached its ADR and the Green line is already started to curve backwards which shows it could possibly be retracing. Anyone agree? or care to share their opinion on my assessment? or some wisdom?

Attached Image (click to enlarge)
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Learning is all about about asking the right questions!
  • #43,031
  • Oct 30, 2014 3:49am Oct 30, 2014 3:49am
Quoting reeeen4
I have been looking at the EA and I have noticed that it has traveled a total of 120pip's today and it has hit a very strong support and resistance line that it has stalled at. I've also noticed that the ADR is 102pip. My guess is that price is going to retrace now and head back up again since it has already reached its ADR and the Green line is already started to curve backwards which shows it could possibly be retracing. Anyone agree? or care to share their opinion on my assessment? or some wisdom? {image}
Theres H1 divergence forming on EA, I missed the entry as well because of LO shifting time +1 for the opening now which work time for me, as you mentioned support area as well, PA is forming PCRF with pullback, so yes watching it, but you have to be very precise in taking that, as it can continue down
I Have Learned to Take Some Losses to Make Profits
  • #43,032
  • Oct 30, 2014 4:29am Oct 30, 2014 4:29am
Quoting reeeen4
I have been looking at the EA and I have noticed that it has traveled a total of 120pip's today and it has hit a very strong support and resistance line that it has stalled at. I've also noticed that the ADR is 102pip. My guess is that price is going to retrace now and head back up again since it has already reached its ADR and the Green line is already started to curve backwards which shows it could possibly be retracing. Anyone agree? or care to share their opinion on my assessment? or some wisdom? {image}
I see bounce at BRN1.4300, just fear and greed as usual. No buyers but sellers taking profits ahead of the big news later.
Scalpers are usually happy lot at these BRNs and weekly and monthly candle shadow trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,033
  • Oct 30, 2014 4:30am Oct 30, 2014 4:30am
Quoting reeeen4
I have been looking at the EA and I have noticed that it has traveled a total of 120pip's today and it has hit a very strong support and resistance line that it has stalled at. I've also noticed that the ADR is 102pip. My guess is that price is going to retrace now and head back up again since it has already reached its ADR and the Green line is already started to curve backwards which shows it could possibly be retracing. Anyone agree? or care to share their opinion on my assessment? or some wisdom? {image}
Be careful, just because ADR is reached, it hits a support or anything else for that matter, doesn't mean it will straight away reverse.
When a pair is moving in one direction for some time, it will generally consolidate. I'd start looking for a reversal when price moves away, retests the support (forms a double bottom) and I'd like there to be a divergence.
In other words, it's too early to tell what this is telling us, however, is to stay put and not to sell until further notice
  • #43,034
  • Oct 30, 2014 4:44am Oct 30, 2014 4:44am
Quoting WDays
{quote} Be careful, just because ADR is reached, it hits a support or anything else for that matter, doesn't mean it will straight away reverse. When a pair is moving in one direction for some time, it will generally consolidate. I'd start looking for a reversal when price moves away, retests the support (forms a double bottom) and I'd like there to be a divergence. In other words, it's too early to tell what this is telling us, however, is to stay put and not to sell until further notice
Yeah sorry I should have added that I was guessing it would be a period of consolidation or slow retracement for the rest of today. I don't believe it will completely change direction yet as there is bearish divergence on the daily.
Yeah thanks for the advice everyone I'm staying put atm.
Learning is all about about asking the right questions!
  • #43,035
  • Oct 30, 2014 5:06am Oct 30, 2014 5:06am
Quoting reeeen4
I have been looking at the EA and I have noticed that it has traveled a total of 120pip's today and it has hit a very strong support and resistance line that it has stalled at. I've also noticed that the ADR is 102pip. My guess is that price is going to retrace now and head back up again since it has already reached its ADR and the Green line is already started to curve backwards which shows it could possibly be retracing. Anyone agree? or care to share their opinion on my assessment? or some wisdom? {image}
yes i see E/A too and i am making it a trade with E/G

here is my chart...please give me some opinion or advice if my trade is wrong
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  • #43,036
  • Oct 30, 2014 5:23am Oct 30, 2014 5:23am
Quoting WDays
{quote} Be careful, just because ADR is reached, it hits a support or anything else for that matter, doesn't mean it will straight away reverse. When a pair is moving in one direction for some time, it will generally consolidate. I'd start looking for a reversal when price moves away, retests the support (forms a double bottom) and I'd like there to be a divergence. In other words, it's too early to tell what this is telling us, however, is to stay put and not to sell until further notice
What's up WDays,
Was thinking if you trade with M15 or H1 at the very LO? I'm asking because lot's of time the main movement is in the first candle which is too late to be caught by H1 TDI!
  • #43,037
  • Oct 30, 2014 5:34am Oct 30, 2014 5:34am
Quoting Kouroushi
{quote} What's up WDays, Was thinking if you trade with M15 or H1 at the very LO? I'm asking because lot's of time the main movement is in the first candle which is too late to be caught by H1 TDI!
Hey, not much, crappy day for trading. Decided I'd stay put instead of squeeze in trades. Besides, US GDP up soon EA was a good short, but I didn't take it, because 1) GA wasn't a signal at LO and 2) yesterday, from the two pairs, EA barely did 30 pips and flattened

I look at H1 and H4, sometimes I throw a quick glance on m15 just to check out if I'm clear, like to check out if I'm not too late and all that crap. Here's the deal with candles and movements;

A candle will generally move after the first 25% of it has gone by... Any timeframe, you can check it out for yourself Naturally, the largest move will take place in the last 25-15% of the candle. Now for the hourly timeframe, 25% = 15 minutes, right? So what happens (and I've seen this happen time and time again) is the following: Frankfurt candle (9am GMT+2) sets up a signal, I only enter on the London open candle (10am GMT+2), at LO the candle may move a couple of pips but then it will retrace and essentially slowdown for a good 15 to 20 minutes... If I'm right and the setup is valid, somewhere between 10:20 and 10:35 my trade will take off, leading me into a dozen pips of profit. If that doesn't happen, I start to worry, revise market conjecture and decide if I should keep the trade open or not.

I don't know if I've explained it well enough, but in a couple of words, that's what practice and forward testing has shown me

note that this is not a rule set in stone and it won't happen 100% of the time, neither will LO start a good intraday movement 100% of the time
  • #43,038
  • Oct 30, 2014 6:04am Oct 30, 2014 6:04am
Quoting vayzardos
{quote} yes i see E/A too and i am making it a trade with E/G here is my chart...please give me some opinion or advice if my trade is wrong {image} {image}
What do you say about the candle formations themselves? Aren't both the UP candles rather weak?
Would that be a consideration?
I am asking because I would like to know as well.
  • #43,039
  • Oct 30, 2014 6:05am Oct 30, 2014 6:05am
Quoting WDays
{quote} Hey, not much, crappy day for trading. Decided I'd stay put instead of squeeze in trades. Besides, US GDP up soon EA was a good short, but I didn't take it, because 1) GA wasn't a signal at LO and 2) yesterday, from the two pairs, EA barely did 30 pips and flattened I look at H1 and H4, sometimes I throw a quick glance on m15 just to check out if I'm clear, like to check out if I'm not too late and all that crap. Here's the deal with candles and movements; A candle will generally move after the first 25% of it has gone by... Any timeframe,...
Totally got you... Thanks... But why not taking GA today... I got it for +28 pips as you can see on the chart... my reasons were:

  1. Good H1 cross
  2. H4 stepping down
  3. Good M15 momentum
  4. Enough space to run it

What were your reasons for not taking it & weren't my reasons compelling enough?
And regarding my exits, I exited at 1st & 2nd as shown on the chart, if I exited all at 1st for +28, there wouldn't be any stress during that huge retracement. Even I could decide to close the remaining half with a small loss in the retrace!!! I mean do you think +28 was enough to close all & step back?

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  • #43,040
  • Oct 30, 2014 6:13am Oct 30, 2014 6:13am
Quoting safhammer
{quote} What do you say about the candle formations themselves? Aren't both the UP candles rather weak? Would that be a consideration? I am asking because I would like to know as well.
usually i would be sceptical with this trade but today the market seems got no signal to trade at london open to US Open so when i see a signal the market would also sees it and take it...how about you guys?
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