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Trading Made Simple

  • #53,901
  • Feb 23, 2015 5:08pm Feb 23, 2015 5:08pm
Quoting haydo147
I have a question, if anybody can help me. When defining a "consolidation" or "range" do we use the high and the low (the wicks) or the open and close prices?
Haydo,

You always want to use the wicks. The wicks are very
important, for example pin bar set-ups. The "shadows"
tell us where the bulls & bears fight it out & who won.
The wicks could determine where the market will go next.
sj
  • #53,902
  • Edited 6:03pm Feb 23, 2015 5:22pm | Edited 6:03pm
Quoting snarlyjack
{quote} Cigarguy, Do you specialize in short term counter trend trades? Nothing wrong with that I was just curious. I traded the 15 & 30 minute charts this morning & did very well...(no moving averages, just the pac). sj
Hi sj,

No, I do not specialize in counter trend trades, but yes as you can see from my posted charts, I am a scalper and scalp depending on what the charts are telling me. I do look at the H1 charts for possible set ups and then drill down to M5 or M15 for entries....and some are counter trend depending on the ATR's and key levels PASR. I prefer to set targets for small pips with larger lots for quick entries and exits. In fact, I have some charts set up with NO indicators except s & r, levels (added 5 EMA and 200 EMA on below H1 chart as per TMS to show the way and left TDI off this one with focus on PASR ) and do trade those successfully. Personally, with the uncertainty of the financial world, I find it comfortable to end my trading day flat with the market and close my trading journal with the days profits and losses. Through the years, I have traded many styles and methods and scalping has proven to be the most profitable, fits my comfort zone and is just my style......each trader must find what works for them.

Nice to hear that M15 and M30 gave you some pips.....

Stay GREEN my friend.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDiH1.png Size: 59 KB
Keep It Simple
  • #53,903
  • Feb 23, 2015 6:53pm Feb 23, 2015 6:53pm
Quoting TheScorpS
EJ _ H1 sold at rejection of LO high of the day, then added position on an outside bar on H1, both positions with same tp for total +90 pips {image}
Hi TSS!

Can you explain the box, does that represent the london session? The top part of the box is then the high of the session? Thanks.
  • #53,904
  • Feb 23, 2015 6:55pm Feb 23, 2015 6:55pm
Quoting snarlyjack
{quote} Omonisha, I watched that trade...your's was perfect! sj
Thanks for all the support sj
Sad i'm not trying to understand PA
  • #53,905
  • Feb 23, 2015 7:13pm Feb 23, 2015 7:13pm
Not sure if this was asked before..... I'm used to reading normal candlestick chart pattern (ie pinbars, engulfing, railroad tracks etc) so when I'm looking at HA candles can I interpret their PA will be the same? (ie Bullish Pinbar for normal candlesticks = Bullish Pinbar in HA?)
  • #53,906
  • Feb 23, 2015 9:40pm Feb 23, 2015 9:40pm
I can't find any trade in 4H timeframe. Should I go down to 1H tf?
  • #53,907
  • Feb 23, 2015 9:58pm Feb 23, 2015 9:58pm
Quoting yenvila
Not sure if this was asked before..... I'm used to reading normal candlestick chart pattern (ie pinbars, engulfing, railroad tracks etc) so when I'm looking at HA candles can I interpret their PA will be the same? (ie Bullish Pinbar for normal candlesticks = Bullish Pinbar in HA?)
Yenvila,

The apb's read similar as regular candles. If it
looks like a pin bar it is a pin bar. Same for engulfing bars
& inside bars. I think apb's are easier to read than candles.
sj
  • #53,908
  • Feb 23, 2015 10:02pm Feb 23, 2015 10:02pm
Quoting iCarumba
I can't find any trade in 4H timeframe. Should I go down to 1H tf?
iCarumba,

It's a little early for a 4 hour set up. I start looking
at the 4 hour chart at the candle change before
the London open.

1st look at the daily, then the 4 hour, then the 1 hour.
Get a real good feel for the trend by analyzing the daily chart.
sj
  • #53,909
  • Feb 23, 2015 11:00pm Feb 23, 2015 11:00pm
Quoting snarlyjack
{quote} Yenvila, The apb's read similar as regular candles. If it looks like a pin bar it is a pin bar. Same for engulfing bars & inside bars. I think apb's are easier to read than candles. sj
Thanks SJ for clarifying my doubts
  • #53,910
  • Feb 23, 2015 11:33pm Feb 23, 2015 11:33pm
Quoting haydo147
I have a question, if anybody can help me. When defining a "consolidation" or "range" do we use the high and the low (the wicks) or the open and close prices?
Hi Hayden,

I like your name. It reminds me of John Hayden, he authored the book "RSI:The Complete Guide".

About CONSOLIDATION and RANGE, I look at the real price bar high-low. The same if we use the Japanese candlesticks study. The combine use of the real price and the Average Price Bar APB or the HeikenAshi HA candles is what make TMS 5-Method such a simple trading method. The APb body warns us of possible phase chaneg in the price and the real price bar actually tell us the high probability direction.

Look at the GBPJPY D1 chart below where I wrote some comments. If you first look at your weekly chart, you can easily identify that weekly candle I mentioned.
Then on the D1 chart, you can spot that 5-day candles which make that weekly candle.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY week 09 24 Feb D1 chart view.png Size: 106 KB


Using the weekly chart and the price bar/Japanese candles to form the trading bias is one way to make trading decision easier on D1 and H4 trading.
Remember that Eric also look at Japanese candles charts too when he trade.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,911
  • Feb 23, 2015 11:40pm Feb 23, 2015 11:40pm
RSI:The Complete Guide by John Hayden

If you have not read this book, I suggest you do and it will give you an in depth understanding what the RSI data is used to create the TDI and how you can trade with it.

Attached Image (click to enlarge)
Click to Enlarge Name: book cover RSI complete guide.png Size: 231 KB


Download from post#27,110 [click link]
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,912
  • Feb 24, 2015 12:45am Feb 24, 2015 12:45am
Hello,

I've found a potential setup on EA and would like peoples input as to whether this would be a good trade setup (if it pans out)

E.A is in a range created by the 1st week of this months WRB, so the range would have to be broken before we see any real direction but this setup is just a quick scalp on the HR1 chart.

yellow lines - weekly historic S/R
purple - monthly historic S/R
black - the WRB low

if the TDI was to cross would this be a good entry?
Target would be the historical just below 1.45145 (60 pips away)

Attached Image (click to enlarge)
Click to Enlarge Name: EA trade.png Size: 129 KB
  • #53,913
  • Feb 24, 2015 12:53am Feb 24, 2015 12:53am
Quoting haydo147
Hello, I've found a potential setup on EA and would like peoples input as to whether this would be a good trade setup (if it pans out) E.A is in a range created by the 1st week of this months WRB, so the range would have to be broken before we see any real direction but this setup is just a quick scalp on the HR1 chart. yellow lines - weekly historic S/R purple - monthly historic S/R black - the WRB low if the TDI was to cross would this be a good entry? Target would be the historical just below 1.45145 (60 pips away) {image}
In general a potential tdi cross could be possible. - When i am Trading the tdi i use this rules.

- tdi cross (green over red) over the 50line = valid
- tdi cross (red over green) under the 50 line = valid

Ofcourse some other Things come in to play, but this is just my tdi rules.


Happy trading
MY SITTING, NEVER MY THINKING!
  • #53,914
  • Feb 24, 2015 1:53am Feb 24, 2015 1:53am
Quoting haydo147
Hello, I've found a potential setup on EA and would like peoples input as to whether this would be a good trade setup (if it pans out) E.A is in a range created by the 1st week of this months WRB, so the range would have to be broken before we see any real direction but this setup is just a quick scalp on the HR1 chart. yellow lines - weekly historic S/R purple - monthly historic S/R black - the WRB low if the TDI was to cross would this be a good entry? Target would be the historical just below 1.45145 (60 pips away) {image}

Look at H4 EURAUD, EURNZD, GBPAUD and GBPNZD, pick the better pair to trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,915
  • Feb 24, 2015 3:19am Feb 24, 2015 3:19am
Quoting yenvila
Not sure if this was asked before..... I'm used to reading normal candlestick chart pattern (ie pinbars, engulfing, railroad tracks etc) so when I'm looking at HA candles can I interpret their PA will be the same? (ie Bullish Pinbar for normal candlesticks = Bullish Pinbar in HA?)
You can learn more about the HeikenAshi HA at post#18,483. [click link].
The Synergy APB has a slight difference to the traditional HA, the APB put more weight on the Close price.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,916
  • Feb 24, 2015 3:22am Feb 24, 2015 3:22am
GBPCAD- H4
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-02-24_15-17-25GBPCAD.png Size: 32 KB
Sad i'm not trying to understand PA
  • #53,917
  • Feb 24, 2015 3:37am Feb 24, 2015 3:37am
Quoting omonisha
GBPCAD- H4 {image}



since Monday open, this pair was screaming ... buy me! buy me!

Look at weekly chart. That is PA obviuos.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,918
  • Edited 3:53am Feb 24, 2015 3:40am | Edited 3:53am
Quoting omonisha
GBPCAD- H4 {image}

Good job man , you always steal the pips with the most simple template here..
Extremly good

Here is my EU M1
12 pips is enough for a european morning in a m1 chart Small timeframe = bigger lotsize
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDcM1.png 24.2. tms m1.png Size: 39 KB
Risiko birgt immer auch die Chance.
  • #53,919
  • Feb 24, 2015 3:54am Feb 24, 2015 3:54am
Quoting Sesamstrasse
{quote} Good job man , you always steal the pips with the most simple template here.. Extremly good Here is my EU M1 12 pips is enough for a european morning in a m1 chart Small timeframe = bigger lotsize {image}
SUPER !!!
Bravo G!!
Lorenzo
  • #53,920
  • Feb 24, 2015 4:03am Feb 24, 2015 4:03am
Quoting Sesamstrasse
{quote} Good job man , you always steal the pips with the most simple template here.. Extremly good Here is my EU M1 12 pips is enough for a european morning in a m1 chart Small timeframe = bigger lotsize {image}
That is excellent trading m8 congrats
Sad i'm not trying to understand PA
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