{quote} my advice is "don't go there...." that will not make your trading better unless you are a wave trader.
Well put Manny
- #54,247
- Mar 1, 2015 10:21pm Mar 1, 2015 10:21pm
I really like the MTF TDI Matrix indicator that Xaphod made, to me its much easier than switching between timeframes. Of course all rules are the same, its just easy to get the whole picture of the higher TF's with the Matrix to me, and its not different than the MTF TDI we see here alot. I highlighted some entries and exits. Notice at least two of the Matrix TF's are indicating the same direction. Just easier to see the waves inside the waves. 
This is what I'm looking for in EA this week (Apologies if the chart looks cluttered). It is not recommended trade opportunities or suggestions.
EA TMS Clean Template LO
EA TMS annotated template
See magenta lines above how PA moved last week...it moves from level to level, structure to structure and when finds support or resistance it stalls there for some time before making another move.
What we have to consider while trading our favourite pair ?
1. PA have a tendency to test, fail, break, close above, close below or consolidate around previous day high/low, previous recent structure on left, any important round number or fib level.
2. Wait for candle to close before you take your trade entry.
3. Watch out for recent structure on left and see if your TDI is at the right place and trade entry is expected soon or if you are in a trade look out for taking some profit off, making your trade risk free or if its better to close the trade.
4. What if the above EA bearish scenario fails, I'll try to find trades on my other pair...See if counter trend trades gives me some potential positive trades.
Your trading plan may fail most of the times but you will still be ahead of the one who doesn't plan his trades.
Kindest Regards
EA TMS Clean Template LO
EA TMS annotated template
See magenta lines above how PA moved last week...it moves from level to level, structure to structure and when finds support or resistance it stalls there for some time before making another move.
What we have to consider while trading our favourite pair ?
1. PA have a tendency to test, fail, break, close above, close below or consolidate around previous day high/low, previous recent structure on left, any important round number or fib level.
2. Wait for candle to close before you take your trade entry.
3. Watch out for recent structure on left and see if your TDI is at the right place and trade entry is expected soon or if you are in a trade look out for taking some profit off, making your trade risk free or if its better to close the trade.
4. What if the above EA bearish scenario fails, I'll try to find trades on my other pair...See if counter trend trades gives me some potential positive trades.
Your trading plan may fail most of the times but you will still be ahead of the one who doesn't plan his trades.
Kindest Regards
{quote} my aussie your chart and temp settings are excellent crystal clear .i know all indicators are available on paperclip but may be i am not good creative as like you ??is it possible for you to upload exact indicator and temp settings together please.
Kindest regards
What is old news in new again so I can learn it!
- #54,257
- Mar 2, 2015 3:51am Mar 2, 2015 3:51am
Whats everyone's views on EA this week?
My analysis says were still trending down, waiting on a potential short entry around the 1.44350-1.44650 level (given that the TDI and stoch signals are correct)
May be wrong, don't base your trades off this.
-hayden
My analysis says were still trending down, waiting on a potential short entry around the 1.44350-1.44650 level (given that the TDI and stoch signals are correct)
May be wrong, don't base your trades off this.
-hayden
- #54,258
- Mar 2, 2015 3:55am Mar 2, 2015 3:55am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Risiko birgt immer auch die Chance.
- #54,260
- Mar 2, 2015 4:21am Mar 2, 2015 4:21am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
{quote} Good shot Guido.
Risiko birgt immer auch die Chance.