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Trading Made Simple

  • #52,141
  • Feb 2, 2015 7:18pm Feb 2, 2015 7:18pm
Quoting mkfx
{quote} Hi Emmanuel, Just a small doubt about setup ABP. Should we wait till close of setup ABP ? and open trade at beginning of next candle. Thanks
Hi mkfx,

yes,
1st reason - the APB before that setup candle I marked has a small body. also the upper and lower wicks on that APB does not represent momentum.
2nd reason - when we use the PAC, the setup candle must close outside the PAC.

my personal rule is that setup price bar must close below the TOK_5H Low for me to pull the trigger.
Form the PA perspective, there was a swing low seen with that TOK_5H Low and I want to see a PA break below that last swing low.
I also look at the H4 high-low form by the H1 without having to switch my chart to H4.
The S&R is the BRN 1.9400.

hope this explains how I pick PA setup by looking at swing highs and swing lows. Use the TDI and APB confirm the PA setups.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #52,142
  • Feb 2, 2015 7:21pm Feb 2, 2015 7:21pm
Quoting MrAussieFX
Anyone watching GJ...Monthly candle started very strong RED and Daily sitting on 200EMA and been sideways since Jan'15 and bouncing between RN's, Guppy, PAC and 200 EMA. With the Guppy Crossover on daily and Strong TDI (MBL slope down and below 50, Green and Red below 50 aswell) I'll be looking for some good Sell opportunities in following days. {image} This is IF...THEN Process and we should have a contingency plan if our current trading plan doesn't work. I'm open to comments. Kindest Regards
Managed to get +40 pips on GJ sell M15 (NY Session)

As there was a strong tug-of-war between Bulls and Bears and during early NY session and close of London Session PA started to move down to test 176.00 area again. With all the factors discussed in the quoted post, the profit target was set to previous day low as this was the minimum I wanted the PA to test before GJ make any conclusive decision but as expected it just touched that previous day low and went straight back up into Guppy to make the lower high.

GJ M15 Sell (NY Session)

Partial profit taken at +30 pips
Full PT hit at +40 pips (10 pips after Initial Profit)

Attached Image (click to enlarge)
Click to Enlarge Name: 020215 SEll Trade M15.png Size: 341 KB


P.S. No my chart is not pink, Its the Black rectangular box mentioned in the quoted post which is coloured pink (No Trading Zone) on my charts.

Kindest Regards
  • #52,143
  • Feb 2, 2015 7:33pm Feb 2, 2015 7:33pm
Quoting emmanuel7788
{quote} Hi mkfx, yes, 1st reason - the APB before that setup candle I marked has a small body. also the upper and lower wicks on that APB does not represent momentum. 2nd reason - when we use the PAC, the setup candle must close outside the PAC. my personal rule is that setup price bar must close below the TOK_5H Low for me to pull the trigger. Form the PA perspective, there was a swing low seen with that TOK_5H Low and I want to see a PA break below that last swing low. I also look at the H4 high-low form by the H1 without having to switch my chart...
Thanks Emmanuel for explaining in details

MK
  • #52,144
  • Edited 8:14pm Feb 2, 2015 7:59pm | Edited 8:14pm
AU, M5 scalp counter trend on pullback per PA and TDI +4.9 (5 lots).....Total today so far +27 (5 lots) TMS observing PASR with special attention given to key levels for entries and targets....
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDiM5.png Size: 73 KB
Keep It Simple
  • #52,145
  • Feb 2, 2015 8:34pm Feb 2, 2015 8:34pm
GBPNZD H1 intraday:
Quiet before the storm today with UK PMI.
I see a rare APB Doji with fractals on its high-low.
Will try catch the 100 to 150 pips move today.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD 3 Feb APB Doji.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #52,146
  • Feb 2, 2015 8:41pm Feb 2, 2015 8:41pm
AUD rate announcement in one hour.

Wait for the release first, watch the market reaction then look if there is momentum in the price.
If you jump in before the data release, you will not likely survive with small stops.
Rumour is that RBA will cut 0.25% off the current 2.5%. ... to 2.25%, nobody knows if that will happen today.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #52,147
  • Feb 2, 2015 8:54pm Feb 2, 2015 8:54pm
Thanks Emman!

Yes, totally watching all the AUD crosses, hoping for some good momentum
  • #52,148
  • Feb 2, 2015 9:06pm Feb 2, 2015 9:06pm
Hi traders,
I'm still using the traditional method taught by eelfranz and seems like your charts have a lot of new and useful indicators. Mind to share ? Thanks
OK back to my question.

how should I avoid those bad trades marked in the photo ?
the tenth entry from the right is quite a good trade but after 3 bullish candles all profit was being cut off by a bearish candle. Is this something that is out of our control ? Any solution to filter up these kind of trades ?
Happy trading.


Shin
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.JPG Size: 332 KB
  • #52,149
  • Feb 2, 2015 9:23pm Feb 2, 2015 9:23pm
Ok..im understand what emmanuel just mentioned..PA patterns IB,PB & 2B at normal/dinamic S/R are the key here..
FXerha
  • #52,150
  • Feb 2, 2015 9:28pm Feb 2, 2015 9:28pm
Quoting likica
I appreciate this thread which contains a lot of information from traders who come from different levels in trading (some useful for me some not but might benefit others). Whoever think it s B.S do not need to come. We all have choices. Make yours! You will see what you pay attentions to....
Couldn't have said it better. I'm Still Learning!!! And I love this Thread.
Positive anything is better than negative thinking.- Elbert Hubbard
  • #52,151
  • Feb 2, 2015 9:33pm Feb 2, 2015 9:33pm
This is why I love this Thread and I'm very grateful to have so many people that believe in each other and help each other out.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 25 KB
Positive anything is better than negative thinking.- Elbert Hubbard
  • #52,152
  • Feb 2, 2015 9:41pm Feb 2, 2015 9:41pm
Here are some pictures of the Aud rate decision.
Interesting price action...
sj
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 59 KB
Click to Enlarge Name: AUDUSDH4.png Size: 60 KB
Click to Enlarge Name: AUDUSDH1.png Size: 57 KB
  • #52,153
  • Feb 2, 2015 9:45pm Feb 2, 2015 9:45pm
Quoting snarlyjack
Here are some pictures of the Aud rate decision. Interesting price action... sj {image} {image} {image}
You think it'll continue lower to the .7600 support? Them surprising with the rate cut is negative for the AU.
Positive anything is better than negative thinking.- Elbert Hubbard
  • #52,154
  • Feb 2, 2015 9:52pm Feb 2, 2015 9:52pm
EJ short for +25
Attached Image
  • #52,155
  • Feb 2, 2015 9:53pm Feb 2, 2015 9:53pm
Next target?.........
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDiMonthly.png Size: 72 KB
Keep It Simple
  • #52,156
  • Feb 2, 2015 9:54pm Feb 2, 2015 9:54pm
Quoting redcloudxlll
{quote} You think it'll continue lower to the .7600 support? Them surprising with the rate cut is negative for the AU.
Redcloud,

According to the Tdi their is lot's of room
for it to run...
sj
  • #52,157
  • Feb 2, 2015 9:56pm Feb 2, 2015 9:56pm
Quoting sknight1
EJ short for +25 {image}
sknight1

Nice trade......
Keep It Simple
  • #52,158
  • Feb 2, 2015 9:56pm Feb 2, 2015 9:56pm
Quoting cigarguy
Next target?......... {image}
Cigarguy,

Which sup/dem indicator are you using?
Thanks,
sj
  • #52,159
  • Feb 2, 2015 9:59pm Feb 2, 2015 9:59pm
Quoting snarlyjack
{quote} Cigarguy, Which sup/dem indicator are you using? Thanks, sj

sj,

Simple one and works fine for me. I just changed the colors to make it easier on the eyes.........
Attached File(s)
File Type: ex4 SupDem.ex4   13 KB | 395 downloads
Keep It Simple
  • #52,160
  • Feb 2, 2015 10:04pm Feb 2, 2015 10:04pm
I noticed same impact on NZD, should we buy it?
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