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Trading Made Simple

  • #45,321
  • Nov 30, 2014 10:50pm Nov 30, 2014 10:50pm
Quoting Petr.K
{quote} I´m short too {image}
One of eelfranz's most basic rules was ONLY to go in on candle 1 or 2 not any other candle, especially not candle 4 or 5 its too late in the run to be able to call it a high probability trade.
  • #45,322
  • Dec 1, 2014 12:35am Dec 1, 2014 12:35am
Quoting lastingwell
{quote} One of eelfranz's most basic rules was ONLY to go in on candle 1 or 2 not any other candle, especially not candle 4 or 5 its too late in the run to be able to call it a high probability trade.
Not to mention use the TDI for entries. I guess dude was in the wrong thread?
  • #45,323
  • Dec 1, 2014 12:43am Dec 1, 2014 12:43am
Quoting WDays
{quote} Not to mention use the TDI for entries. I guess dude was in the wrong thread?

I would've gotten in earlier, on the first candle, but I think I was distracted by the PAC. I was waiting for PA to close below the lower channel. Later I remembered that was Dean Malone's rule, not BigE's rule.

Could've had +30. Maybe next time.
  • #45,324
  • Dec 1, 2014 12:44am Dec 1, 2014 12:44am
Quoting sknight1
short nzd/jpy @ 92.77 way overbought on the daily... we'll see if it can break below / close below the swing low of that little 1H channel that it's up against right now. edit: and yes, I'm aware that there's a "red" news event for CNY coming up in about 20 minutes. {image}

Hi,

Today we start a new month and also a new week.
Always good to look at the MN chart then the W1 chart and plan our trades.
W1 shows market in consolidation and last week 48 was a Doji.
Week 47 was bullish and using that W1 candle OHLC as our support and resistance we see how the Open play as support last week on H1.

Today Tokyo open selling into this support is low probability.
D show it is over bought and that can remain in over bought above 68-level is a strong uptrend.
JPY is weaken by BoJ actions, so it is better to stay on buyer side for all xxxJPY pairs, unless you are scalping the TDI cross on H4.

When trading H1, you must observe the Price Acton at Support & Resistance and use the TDI as confirmation of the Price Action.

Trade Safe!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDJPY week 49 W1 view.png Size: 24 KB
Click to Enlarge Name: NZDJPY week 49 H4 view.png Size: 26 KB
Click to Enlarge Name: NZDJPY week 49 H1 1 Dec.png Size: 33 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #45,325
  • Dec 1, 2014 12:56am Dec 1, 2014 12:56am
Quoting sknight1
{quote} I would've gotten in earlier, on the first candle, but I think I was distracted by the PAC. I was waiting for PA to close below the lower channel. Later I remembered that was Dean Malone's rule, not BigE's rule. Could've had +30. Maybe next time.

Hi,

Your Synergy PAC should be set to using two MA set period 5 Smoothed MA High and a Low, without any shift.

regards,
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPY H1 PAC example.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #45,326
  • Edited 1:17am Dec 1, 2014 1:00am | Edited 1:17am
Quoting emmanuel7788
{quote} Hi, Your Synergy PAC should be set to using two MA set period 5 Smoothed MA High and a Low, without any shift. regards, {image}

Weird, I thought it was shift 1.... thank you !

Adjusted the PAC and noticed that even with that change, the setup candle on my charts (finfx for broker) still would not have been valid. Plus, it was late on Friday that it occurred.
Attached Image (click to enlarge)
Click to Enlarge Name: 048.PNG Size: 31 KB
  • #45,327
  • Dec 1, 2014 1:16am Dec 1, 2014 1:16am
Quoting lastingwell
{quote} One of eelfranz's most basic rules was ONLY to go in on candle 1 or 2 not any other candle, especially not candle 4 or 5 its too late in the run to be able to call it a high probability trade.

totally agree ! Good reminder !!
I keep this as the most important rule in my mind .. ( of course with a clear cross of the TDI )
Very often the price moves then in my H4 chart 30-40 pips , what gives me enough space to trigger to BE .
If the price reaches not my TP, I ´m still not in a loss.
Guido
Risiko birgt immer auch die Chance.
  • #45,328
  • Dec 1, 2014 1:17am Dec 1, 2014 1:17am
Quoting emmanuel7788
{quote} Hi, Today we start a new month and also a new week. Always good to look at the MN chart then the W1 chart and plan our trades. W1 shows market in consolidation and last week 48 was a Doji. Week 47 was bullish and using that W1 candle OHLC as our support and resistance we see how the Open play as support last week on H1. Today Tokyo open selling into this support is low probability. D show it is over bought and that can remain in over bought above 68-level is a strong uptrend. JPY is weaken by BoJ actions, so it is better to stay on buyer...
Hi Emmanuel,
How are you?
Do you really find it a BUY?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 40 KB
  • #45,329
  • Dec 1, 2014 1:19am Dec 1, 2014 1:19am
Quoting Sesamstrasse
{quote} totally agree ! Good reminder !! I keep this as the most important rule in my mind .. ( of course with a clear cross of the TDI ) Very often the price moves then in my H4 chart 30-40 pips , what gives me enough space to trigger to BE . If the price reaches not my TP, I ´m still not in a loss. Guido
So many times, so many times!
well said Guido!

cheers
Lorenzo
  • #45,330
  • Dec 1, 2014 1:31am Dec 1, 2014 1:31am
GBPUSD H1. 50pips by TP..but it was 31 pips againest my trade; so ancious.
I am learning to usd the TDI system ,Can anyone give me some suggestion?
Attached Image (click to enlarge)
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  • #45,331
  • Dec 1, 2014 1:33am Dec 1, 2014 1:33am
EA H1,at BE
Attached Image (click to enlarge)
Click to Enlarge Name: QQ图片20141201-2.jpg Size: 150 KB
  • #45,332
  • Dec 1, 2014 2:17am Dec 1, 2014 2:17am
Entered long on GBPUSD, H4 @11.00 (gmt+1)

It's against the main big trend, but I really like the setup on D1 with the hammer.

Attached Image (click to enlarge)
Click to Enlarge Name: gu.PNG Size: 40 KB


I won't pull it too much ... 30-40 pips
Lorenzo
  • #45,333
  • Dec 1, 2014 2:18am Dec 1, 2014 2:18am
Quoting Kouroushi
{quote} Hi Emmanuel, How are you? Do you really find it a BUY? {image}

Hi,

I am good. Thanks.
Still on vacation.

UJ is still bullish despite losing some momentum due the recent dollar weakness. On lower TF trading you can catch some pips when sell. Many technical stops below 118.20. Buy the dips. Target 119.20 and 120.85

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #45,334
  • Dec 1, 2014 2:20am Dec 1, 2014 2:20am
Quoting lorbax
Entered long on GBPUSD, H4 @11.00 (gmt+1) It's against the main big trend, but I really like the setup on D1 with the hammer. {image} I won't pull it too much ... 30-40 pips

.. seeing USD weakness buy GU is good.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #45,335
  • Dec 1, 2014 2:23am Dec 1, 2014 2:23am
Quoting sknight1
short nzd/jpy @ 92.77 way overbought on the daily... we'll see if it can break below / close below the swing low of that little 1H channel that it's up against right now. edit: and yes, I'm aware that there's a "red" news event for CNY coming up in about 20 minutes. {image}
Wow... sknight1! ...
  • #45,336
  • Dec 1, 2014 2:23am Dec 1, 2014 2:23am
Quoting emmanuel7788
{quote} .. seeing USD weakness buy GU is good.
Ya, that's what I thought too - and that poms sterling lira is still quite bullish ... come on Betty ... push it
Lorenzo
  • #45,337
  • Dec 1, 2014 2:26am Dec 1, 2014 2:26am
Lorbax Defo agree USD is weaker - how far to TP do you think?
  • #45,338
  • Edited 2:49am Dec 1, 2014 2:27am | Edited 2:49am
Quoting lorbax
Entered long on GBPUSD, H4 @11.00 (gmt+1) It's against the main big trend, but I really like the setup on D1 with the hammer. {image} I won't pull it too much ... 30-40 pips

same entry , but different expectation ! ( demo)
I triggered my SL to BE ( very early , after around 20 pips ) and try to catch around 100 pips .
But the price ran very quick 100 pips , so I can imagine it´ll retrace and take my stop soon ..
what shells ^^ .. valid signal is valid signal ^^
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png 1.12..png Size: 43 KB
Risiko birgt immer auch die Chance.
  • #45,339
  • Dec 1, 2014 2:30am Dec 1, 2014 2:30am
...Nice 70 pip (upper shadow) doji (LOL!) on GJ after Moody's downgrade: gotta watch the JPY...
  • #45,340
  • Dec 1, 2014 2:33am Dec 1, 2014 2:33am
Quoting twellve
Lorbax Defo agree USD is weaker - how far to TP do you think?
See, as a ROUGH measure ... I usually consider 50 to 80 pips on h4, as "first shot", such as the first push after the candle open, then it can retrace, and re-start, no problem. But in a counter-trend (like this) I would not expect strong re-starts

I don't know if it makes sense, but I measure the current PA from the 5SMA and it's about 60pips now, so basically it already reached my first hypothetical TP.
I set SL to BE just like Sesamstrasse, I scaled down half position and I let it go.
Lorenzo
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