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Attachments: Trading the middle TZ's
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Trading the middle TZ's

  • #241
  • Mar 12, 2015 4:10am Mar 12, 2015 4:10am
Quoting fxrabbi
{quote} This type will not retrace, you can but your SL at the back of the mid TZ, for better or tight SL (5-10pips). I will show the one that will likely to retrace so that you wait for the pullback before your entry for a better SL. Cheers. {image}
Usually the first MTZ yeah......
My help is in the name of the Lord who made heaven and earth.
  • #242
  • Mar 12, 2015 4:14am Mar 12, 2015 4:14am
Hi can help me see my entry? I having SL, is that i go in wrong entry?
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  • #243
  • Mar 12, 2015 4:16am Mar 12, 2015 4:16am
Quoting fxrabbi
{quote} " Lets say the big bear candle is forming, the mid TZ is forming (big enough), then i wait for the next/second next candle, hope it will retrace. If it retrace, and the mid zone will become smaller, then i do a sell .... my SL is some pips above the upper side of forming mid TZ. But as you said, without SL (even with good MM) , this is still dangerous. May be i need another filter ...." Thank you for this great information, added to what you observed, take this: I did some discovery on how to know which one will retrace back or which one...

This type will likely retrace, wait after the correction, to find your entry for a better or tight SL(5-10pips).
NB: (look far left of the chart).
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Time always comes before price
  • #244
  • Edited 4:52am Mar 12, 2015 4:20am | Edited 4:52am
Quoting Albertdkpllh
{quote} Usually the first MTZ yeah......
Yes, Boss, but importantly the way it cross, let say whether down, up, half of the TZ . I'm only trying to guide us on how to place a tight SL, the entry is as you put it in your post1.

Cheers.
Time always comes before price
  • #245
  • Edited 5:44am Mar 12, 2015 4:25am | Edited 5:44am
Quoting Jerkmiew
Hi can help me see my entry? I having SL, is that i go in wrong entry? {image}
You need to wait for the candle that cross the mid TZ to closed at the top or bottow of the TZ, before you place your order. Maybe Albertdkpllh will have a better view.

Cheers.
Time always comes before price
  • #246
  • Mar 12, 2015 5:48am Mar 12, 2015 5:48am
Quoting Jerkmiew
Hi can help me see my entry? I having SL, is that i go in wrong entry? {image}
Hello Jerkmiew,

Lets analyse your entry again.
Attached Image (click to enlarge)
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My help is in the name of the Lord who made heaven and earth.
  • #247
  • Mar 12, 2015 6:06am Mar 12, 2015 6:06am
Quoting Albertdkpllh
{quote} Hello Jerkmiew, Lets analyse your entry again. {image}
Hi Albert thank for your advice. I think i get some of the point. Let me try on tomorrow.

Thank you so much.
  • #248
  • Mar 12, 2015 6:31am Mar 12, 2015 6:31am
EU +10

In this trade there was MTZ formed which is now taken off by price action in this trade my TP is 10 pips and SL is 20 pips which is for safety actuly i use mental SL watch price action. After entry price went against my entry but i was expecting price to come round no then if it bounce from it, it will go up so i was watching it it did the same bounced from RN made inside pinbar on next bar it hit the TP.
Attached Image (click to enlarge)
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  • #249
  • Mar 12, 2015 7:22am Mar 12, 2015 7:22am
Quoting jeetvirk
EU +10 In this trade there was MTZ formed which is now taken off by price action in this trade my TP is 10 pips and SL is 20 pips which is for safety actuly i use mental SL watch price action. After entry price went against my entry but i was expecting price to come round no then if it bounce from it, it will go up so i was watching it it did the same bounced from RN made inside pinbar on next bar it hit the TP. {image}
....
My help is in the name of the Lord who made heaven and earth.
  • #250
  • Mar 12, 2015 7:42am Mar 12, 2015 7:42am
still some potential in the day. lets see
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 56 KB
My help is in the name of the Lord who made heaven and earth.
  • #251
  • Mar 12, 2015 7:49am Mar 12, 2015 7:49am
Quoting Albertdkpllh
still some potential in the day. lets see {image}
done. +12 pips
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My help is in the name of the Lord who made heaven and earth.
  • #252
  • Mar 12, 2015 8:24am Mar 12, 2015 8:24am
Quoting Albertdkpllh
{quote} done. +12 pips {image}
Weldone Trading around the red news hour?.
Time always comes before price
  • #253
  • Mar 12, 2015 5:37pm Mar 12, 2015 5:37pm
Hello Albert,

Your method looks good and I think if you change a little bit on your R:R, then you will be more profitable. When you take a trade, you should set your SL at the end of PTZ candle which means as soon as the PTZ is invalidated, you are out. You don't have to wait until price retraces to the end of your H candles. If the price didn't move your way before the last H candle, then also you can come out of the trade. Also, try to trail the stop with 10 pips so that you could earn more pips per trade. I am talking about 1 Hour time frame. Just sharing my thoughts, my friend
  • #254
  • Mar 12, 2015 5:55pm Mar 12, 2015 5:55pm
Quoting tradeforlife
Hello Albert, Your method looks good and I think if you change a little bit on your R:R, then you will be more profitable. When you take a trade, you should set your SL at the end of PTZ candle which means as soon as the PTZ is invalidated, you are out. You don't have to wait until price retraces to the end of your H candles. If the price didn't move your way before the last H candle, then also you can come out of the trade. Also, try to trail the stop with 10 pips so that you could earn more pips per trade. I am talking about 1 Hour time frame....
Thank you Tradeforlife. I'll simulate that and see how it goes.
My help is in the name of the Lord who made heaven and earth.
  • #255
  • Mar 12, 2015 6:47pm Mar 12, 2015 6:47pm
Quoting Albertdkpllh
{quote} done. +12 pips {image}

I have been busy the past few days but i notice a few changes. Is that a MA? Did the %B lines not work? Any changes to any rules?
I love forex. One day it will love me back.
  • #256
  • Mar 12, 2015 7:21pm Mar 12, 2015 7:21pm
Attached Image (click to enlarge)
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Good morning. Just taken trades, lets see how it goes.
My help is in the name of the Lord who made heaven and earth.
  • #257
  • Mar 12, 2015 7:35pm Mar 12, 2015 7:35pm
Quoting Singha83
{quote} I have been busy the past few days but i notice a few changes. Is that a MA? Did the %B lines not work? Any changes to any rules?
No its not an MA, its the kijen sen, and the %B works but not good for placing my stop loss. The only change to the rule is to trade with the trend. I don't take signals against the trend. This thread is about the Potential MTZ opportunities, and we want the best entries. Its okay to use any system or indicators that keep you with the trend so that you take your entries with the trend when the potential MTZ is forming.
My help is in the name of the Lord who made heaven and earth.
  • #258
  • Mar 12, 2015 10:09pm Mar 12, 2015 10:09pm
Quoting fxrabbi
{quote}xxxxx I did some discovery on how to know which one will retrace back or which one will go straight to your TP. Look at the candle that pass through the mid TZ, You will be able to use it to determine your entry point and SL point. Cheers.
This is a great idea my friend. Thanks. Will try to look at mid-TZ candle behavior. I am not so sure that the first one will not retrace , but may be this is depend on the 'h' value we are choosing .....
Edit: comparing both images, i think i got your point. Thanks
Good friends are more valuable than gold ...
  • #259
  • Mar 12, 2015 10:34pm Mar 12, 2015 10:34pm
Quoting fxrabbi
{quote} Yes
Good to know that a compatriot is here. I really like the fixed R:R of 1:2 and it keeps you ahead often even if loss trades morethan wining trades.
looking forward to your more of your entries
  • #260
  • Mar 13, 2015 2:02am Mar 13, 2015 2:02am
Hi Albert,

I just scanned the 15 min charts and saw there were a lot of chances today during the asian session. especially the EUR pairs.
I think you could try using the correlation here as well. If there is a chance in one of the EUR pair, then check for other EUR pairs as well.

Also one more tip. When you take a trade once MPTZ happens and if that PTZ candle is a long one, then better wait for a few minutes of next candle (15 min) so that you can catch that retrace as well as there is always a small retrace after a big candle.

I would say, don't settle for a fixed TP. once the trade is in profit of more than 15 or 20 pips then set the trail stop to 10 pips. In that way, you could catch more pips.

Happy green pips today.
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