Anyone trading NZDJPY on Daily Chart?
Attached Image (click to enlarge)
@SJ, thanks mate appreciate it.
GA daily trade closed by CM at 128 pips.
If you are new to TMS (just like me) try this simple 6 step process when you do your pre-trade analysis.
Jump on to higher time frame (preferably Daily, if you trade H1 or H4 )
Step 1.
Step 2.
Step 3.
Step 4.
Step 5.
Step 6.
Here you have your own structure based chart to work on, look for recent support/resistance areas, where your current PA is trading at the moment, where is a good place to take partial profits or full profits, where can I see the potential reversals etc.
Bonus From one of the Big E's posts from another forum
Kindest regards
GA daily trade closed by CM at 128 pips.
If you are new to TMS (just like me) try this simple 6 step process when you do your pre-trade analysis.
Jump on to higher time frame (preferably Daily, if you trade H1 or H4 )
Step 1.
Step 2.
Step 3.
Step 4.
Step 5.
Step 6.
Here you have your own structure based chart to work on, look for recent support/resistance areas, where your current PA is trading at the moment, where is a good place to take partial profits or full profits, where can I see the potential reversals etc.
Bonus From one of the Big E's posts from another forum
Kindest regards
- #44,924
- Edited 6:43pm Nov 25, 2014 6:23pm | Edited 6:43pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} ...r and I can drive a stick shift. Does that count????
Looking @ GU&AN... GBP recent red news on inflation report
- #44,925
- Nov 25, 2014 7:09pm Nov 25, 2014 7:09pm
- | Joined Mar 2014 | Status: Trader | 1,228 Posts
Glad the stick shift knowledge is enough. 
I'll take a peek at GU and AN. I've been wondering about a possible short signal on euraud & gbpaud at LO.
And you have a PM from me.
I'll take a peek at GU and AN. I've been wondering about a possible short signal on euraud & gbpaud at LO.
And you have a PM from me.
- #44,927
- Nov 25, 2014 7:29pm Nov 25, 2014 7:29pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Glad the stick shift knowledge is enough.
- #44,928
- Nov 25, 2014 7:46pm Nov 25, 2014 7:46pm
- | Joined Mar 2014 | Status: Trader | 1,228 Posts
{quote} Everything is looking 'frozen'... also added GA to watchlist...
okay, now you have to clarify "frozen".
- #44,929
- Nov 25, 2014 7:48pm Nov 25, 2014 7:48pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} okay, now you have to clarify "frozen".
)
- #44,930
- Nov 25, 2014 7:55pm Nov 25, 2014 7:55pm
- | Joined Mar 2014 | Status: Trader | 1,228 Posts
{quote} Despite there being red news (which was a while ago...) PA acts no different to usual (Asian lunchtime... Tokyo... Dumplings... yum
- #44,931
- Edited 8:11pm Nov 25, 2014 7:58pm | Edited 8:11pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} Ah, one can never predict traders reaction to a news event anyway. I don't even try anymore.
They reversed EJ @ the LO after a 61.8 retrace, continuing the higher TF trend... sneaky...LOL!
- #44,932
- Nov 25, 2014 9:42pm Nov 25, 2014 9:42pm
- | Joined Mar 2014 | Status: Trader | 1,228 Posts
It's quiet in here....
*insert crickets chirping*
*insert crickets chirping*
- #44,933
- Nov 25, 2014 10:03pm Nov 25, 2014 10:03pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
- #44,934
- Edited 10:52pm Nov 25, 2014 10:36pm | Edited 10:52pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Ok, went for GU (1H/4H) BE(+comm 
) : had a TP of 20pips (which was aiming high given the market conditions... lol), went to +10pips then came back to visit... Not bad confirmation on the 4H (looked like it could roll around...redline was flattering ...) The most interesting part was the fact that the drawdown was 1.4pips...amazing, LOL! How good is that... very reliable method (not every trade will work but you'll have a good chance to cover trade)... ...Oh, I should add that it danced around the BRN like it wasn't there... (no big money...)... actually, GU may be worth watching for LO...???
) : had a TP of 20pips (which was aiming high given the market conditions... lol), went to +10pips then came back to visit... Not bad confirmation on the 4H (looked like it could roll around...redline was flattering ...) The most interesting part was the fact that the drawdown was 1.4pips...amazing, LOL! How good is that... very reliable method (not every trade will work but you'll have a good chance to cover trade)... ...Oh, I should add that it danced around the BRN like it wasn't there... (no big money...)... actually, GU may be worth watching for LO...???
- #44,935
- Nov 25, 2014 10:42pm Nov 25, 2014 10:42pm
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
It's quiet in here.... *insert crickets chirping*
Market has been quiet and I was busy reading old posts... Found the below one from Big E when monitoring a trade to remind myself and those who need. quote=eelfranz;4575913 When I see a tweek... I look for: 1. Are the candles getting smaller 2. Are the wicks starting to pull back more 3. Are we getting close to a supp/res level. 4. Is my green TDI line getting close to previous highs or lows on my TDI. Those kind of things... being observant...
- #44,936
- Nov 25, 2014 11:10pm Nov 25, 2014 11:10pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
- #44,937
- Nov 25, 2014 11:12pm Nov 25, 2014 11:12pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
- #44,939
- Nov 25, 2014 11:27pm Nov 25, 2014 11:27pm
- Joined Feb 2009 | Status: Trader | 1,038 Posts
Thanks for your help, warmth and straight talking Heather.
