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Trading Made Simple

  • #55,821
  • Apr 13, 2015 6:24am Apr 13, 2015 6:24am
Quoting Vladbold
E/a, m15 trade following a h1 triple top. +42 pips, profit taken at 200 EMA. And 2 losses which i won't post cause they're just too retarded. {image}
Good trading Vladbold
Sad i'm not trying to understand PA
  • #55,822
  • Apr 13, 2015 6:53am Apr 13, 2015 6:53am
Quoting vayzardos
hello guys i want to ask about today fake candle on E/U and the reason why we shouldnt take it please correct me if im wrong about how to handle this fake FO candle and any other opinion on how to handle this fake candle is very welcome {image}

Hello,

I shouldn't take it because is trend-contrarian
  • #55,823
  • Apr 13, 2015 6:55am Apr 13, 2015 6:55am
Quoting vayzardos
hello guys i want to ask about today fake candle on E/U and the reason why we shouldnt take it please correct me if im wrong about how to handle this fake FO candle and any other opinion on how to handle this fake candle is very welcome {image}

Hi,

From the top down analysis perspective, that FO setup would be against the H4 and D1 price action.
However, a retracement trade would have been possible if that FO candle would have been continuation from a Tok_5H Low, but there was no such price action move during the Tokyo 5-hours. The FO candle faced two nearby resistance seen to the left and also the Mother Candle of the H1 Inside Bar. There was not breakout of this MC(2).
In such situation, I prefer to wait for the LO candle to form and closed, then took the sell setup.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD FO candle 13 Apr.png Size: 67 KB


My H1 trade below. Took TP2 +25pips, now waiting for NYO.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD week 16 13 Apr H1 LO trades.png Size: 37 KB



regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #55,824
  • Apr 13, 2015 7:18am Apr 13, 2015 7:18am
Quoting theunis
{quote} My opinion is that the support just had to be breached by a good candle BEFORE the trade can be taken. Sure ... there is more risk because it is then the 3rd candle but still the PA (fake candle) supports the fact that there is enough momentum for a good move. If I do take a trade like that (which I did), I just manage it very tight in case it turns.
Eish ... sorry about that one - I did not zoom in and "assumed" you talked about the sell signal just after it ... sorry ...

Regarding the false buy signal, I agree with the rest of the people:
1. It was counter trend move so had limited potential at best.
2. It had to close above the rest and it never did.
3. The candle itself was not a strong breakout candle.
Never give up !!!
  • #55,825
  • Apr 13, 2015 9:57am Apr 13, 2015 9:57am
GBPAUD-H1.... H4 has crossed and came out from 32 level entered on a little retracement near historical swing point during LO.
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-04-13_20-51-23GBPAUD.png Size: 33 KB
Sad i'm not trying to understand PA
  • #55,826
  • Apr 13, 2015 12:02pm Apr 13, 2015 12:02pm
Quoting omonisha
GBPAUD-H1.... H4 has crossed and came out from 32 level entered on a little retracement near historical swing point during LO. {image}
Damn you took that nicely.
  • #55,827
  • Apr 13, 2015 12:25pm Apr 13, 2015 12:25pm
Hi guys,

What am I doing wrong here? I waited until the TDI crossed over on both the 4hr, 1day & 1week (MTF analysis), even all the arrows on the TDI angleator were heading upwards. I was even coming off the monthly pivot as support and heading towards the weekly R1 (seemed like a sure thing to me). It still turned literally as soon as I entered... and it doesn't seem to be a once only thing. This is happening a bit with me, as soon as I enter it reverses, what am I doing wrong? Would love some pointers thanks guys as I thought this was very conservative. Did anyone else take this trade today?

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (7).png Size: 253 KB
  • #55,828
  • Apr 13, 2015 12:56pm Apr 13, 2015 12:56pm
Quoting omonisha
Here is an excellent MN WK D1 hi lo open close indicator coded by our excellent TMS trader griffinssoul . {file}
That is adjusting the lines, it seems that i cant set it up to show only the previous HL, without the open and close HL.
I tried approximately 15 different indicators now, and the only one that is doing the job, is the Yesterday High & Low v2.0
Sadly its just showing the daily lines, i also need the previous weekly and monthly lines, exactly like the daily lines, its very hard to find
  • #55,829
  • Apr 13, 2015 1:03pm Apr 13, 2015 1:03pm
Quoting Bernardi
{quote} That is adjusting the lines, it seems that i cant set it up to show only the previous HL, without the open and close HL. I tried approximately 15 different indicators now, and the only one that is doing the job, is the Yesterday High & Low v2.0 Sadly its just showing the daily lines, i also need the previous weekly and monthly lines, exactly like the daily lines, its very hard to find
i did not understand.. Isn't it showing the hi lo of previous WK and MN ?
Sad i'm not trying to understand PA
  • #55,830
  • Apr 13, 2015 1:49pm Apr 13, 2015 1:49pm
Quoting omonisha
{quote} i did not understand.. Isn't it showing the hi lo of previous WK and MN ?
It is showing the previous open/close High/low, without the wicks, and i cant turn off the current high/low, actually i just want to mark the previous weekly and monthly candle
  • #55,831
  • Apr 13, 2015 2:01pm Apr 13, 2015 2:01pm
Quoting KierynM
Hi guys, What am I doing wrong here? I waited until the TDI crossed over on both the 4hr, 1day & 1week (MTF analysis), even all the arrows on the TDI angleator were heading upwards. I was even coming off the monthly pivot as support and heading towards the weekly R1 (seemed like a sure thing to me). It still turned literally as soon as I entered... and it doesn't seem to be a once only thing. This is happening a bit with me, as soon as I enter it reverses, what am I doing wrong? Would love some pointers thanks guys as I thought this was very conservative....
Hey K,

Welcome to the thread. - I had a eye on usd/chf, the reason i didnt took the trade, is because the price was trading against the previous weekly high - And i want to se if the area was being respected or broken :-)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf-w1-hf-markets-europe.png Size: 18 KB
Click to Enlarge Name: usdchf-h4-hf-markets-europe.png Size: 19 KB
MY SITTING, NEVER MY THINKING!
  • #55,832
  • Apr 13, 2015 2:22pm Apr 13, 2015 2:22pm
Quoting Bernardi
{quote} It is showing the previous open/close High/low, without the wicks, and i cant turn off the current high/low, actually i just want to mark the previous weekly and monthly candle
In the editor window at the bottom there is the option true false whether you want to see the open close or not. To disable current hi lo just make the color to none or the background color of your chart on D1. APB wicks will be ignored as it made to spot real price candle. Hope i understand you.
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-04-14_1-18-36.png Size: 87 KB
Sad i'm not trying to understand PA
  • #55,833
  • Apr 13, 2015 2:30pm Apr 13, 2015 2:30pm
Quoting merrygold
{quote} Hey K, Welcome to the thread. - I had a eye on usd/chf, the reason i didnt took the trade, is because the price was trading against the previous weekly high - And i want to se if the area was being respected or broken :-) {image} {image}
Ahhh I missed that completely, so busy watching pivots I didn't even notice previous high/lows! Once again merrygold you have been an invaluable resource and mentor (along with the other regulars, Snarlyjack etc.). Everyone on this thread appreciates the help you guys provide.

Many thanks
  • #55,834
  • Apr 13, 2015 2:30pm Apr 13, 2015 2:30pm
Quoting KierynM
Hi guys, What am I doing wrong here? I waited until the TDI crossed over on both the 4hr, 1day & 1week (MTF analysis), even all the arrows on the TDI angleator were heading upwards. I was even coming off the monthly pivot as support and heading towards the weekly R1 (seemed like a sure thing to me). It still turned literally as soon as I entered... and it doesn't seem to be a once only thing. This is happening a bit with me, as soon as I enter it reverses, what am I doing wrong? Would love some pointers thanks guys as I thought this was very conservative....
If you want a the lines on your chart, you can use this indicator posted by Omonisha (The indicator is made by griffinsoul)

http://www.forexfactory.com/showthre...69#post8198869
MY SITTING, NEVER MY THINKING!
  • #55,835
  • Apr 13, 2015 2:42pm Apr 13, 2015 2:42pm
Quoting KierynM
Hi guys, What am I doing wrong here? I waited until the TDI crossed over on both the 4hr, 1day & 1week (MTF analysis), even all the arrows on the TDI angleator were heading upwards. I was even coming off the monthly pivot as support and heading towards the weekly R1 (seemed like a sure thing to me). It still turned literally as soon as I entered... and it doesn't seem to be a once only thing. This is happening a bit with me, as soon as I enter it reverses, what am I doing wrong? Would love some pointers thanks guys as I thought this was very conservative....
i'll let the seniors speak to TMS issues, as you know even great setups sometimes fail, there are no guarantees.
The only warning I see is in your entry bar, if you take off the APB bars you can see that the regular candlestick is a gravestone Doji,(pin Bar) indicating a possible top. Also was a fairly long swing up with no major corrections. Hope this helps.
  • #55,836
  • Apr 13, 2015 2:55pm Apr 13, 2015 2:55pm
Quoting KierynM
Hi guys, What am I doing wrong here? I waited until the TDI crossed over on both the 4hr, 1day & 1week (MTF analysis), even all the arrows on the TDI angleator were heading upwards. I was even coming off the monthly pivot as support and heading towards the weekly R1 (seemed like a sure thing to me). It still turned literally as soon as I entered... and it doesn't seem to be a once only thing. This is happening a bit with me, as soon as I enter it reverses, what am I doing wrong? Would love some pointers thanks guys as I thought this was very conservative....
I don't trade this pair nor i'm expert. Took a glance and this is what i see. Did you noticed that WRB/MC ? That WRB/MC high is the previous WK High. Price didn't close above the MC/ WK hi. And TDI is over 68.

EMU has posted a pdf of basic rules at the end he explains the WRB. Hope that help.

  1. Post 53,842

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.png Size: 253 KB
Sad i'm not trying to understand PA
  • #55,837
  • Apr 13, 2015 3:36pm Apr 13, 2015 3:36pm
A lot of support in this community, much appreciated guys!
  • #55,838
  • Apr 13, 2015 6:15pm Apr 13, 2015 6:15pm
As a beginner, the thing that has helped me improve my trades has been not only looking at the higher time frames (Daily and 4H when trading 1H) but also checking the 5M charts for entries. Although it isn't always necessary, you can eliminate fake outs since the 5M chart might be signaling a reversal. It also helps psychologically since you will enter the trade with profit instead of having to wait or wonder when the trade will pick up.

When analyzing my big losses, most to all of them could have been avoided if I looked at the lower time frame and realized that it was reversing. I know TMS puts a lot of emphasis on trading with the higher trend, but if you are like me and don't want to risk a huge DD, then checking lower time frames might also be to your benefit. Looking back at my old trades, almost all of them were because I made a decision without considering the other time frame, whether it be a higher time frame, or lower time frame. I thought that I could get away with just looking at the 4H/Daily, or just looking at the 1H, but I'm realizing that you really need to respect all the time frames to make the best decisions.
  • #55,839
  • Apr 13, 2015 6:51pm Apr 13, 2015 6:51pm
So what do you look for or see in the lower time frames that confirm its a reversal and not just a re-trace?
  • #55,840
  • Edited 8:02pm Apr 13, 2015 7:33pm | Edited 8:02pm
Quoting KierynM
Hi guys, What am I doing wrong here? I waited until the TDI crossed over on both the 4hr, 1day & 1week (MTF analysis), even all the arrows on the TDI angleator were heading upwards. I was even coming off the monthly pivot as support and heading towards the weekly R1 (seemed like a sure thing to me). It still turned literally as soon as I entered... and it doesn't seem to be a once only thing. This is happening a bit with me, as soon as I enter it reverses, what am I doing wrong? Would love some pointers thanks guys as I thought this was very conservative....
http://www.forexfactory.com/attachme...1&d=1428945519


Hi,

This USDCHF H4 trade above, to be buyer for a 4H swing trade, it is ..wrong timing and wrong place(price).

First thing you need to do is to keep trading simple. Drop all MTF TDI from your charts, and spend your time and effort to read the price action on your price charts and see how the TDI responds to the price action. The TDI is lagging the price action and whatever the price does, the TDI will respond accordingly. The MTF TDI looks great on history charts but in realtime it will respond to price action too. Any significant change in price volatility, that will show up in the TDI later.


First thing you should have done is your big picture plan.
First look at your Monthly chart at the start of each month and new week.
Then, look at your Weekly chart.
Is there a dominant trend or primary trend seen?
What are the support and resistance closest to the current price?

Then, move down to the trading chart H4, look to the left of your chart before your buy entry point.
Do you see two peaks of the TDI green line?
At each peak of the TDI Green line, what is the price action?
What do the two TDI peaks tell you about the price and its momentum?
It would help if you have the full TDI with the MBL and VB. These will tell the complete story of the 5-Method.
Is the price action in or near to a support and resistance?
Is the current price in consolidation?

Trading TMS 5-Method is all about PA, PA, PA,... then check the TDI to confirm the PA.
Keep practicing.... and train your third eye to see more with less indicators in sub-window

regards,

Edit: add chart

Attached Image (click to enlarge)
Click to Enlarge Name: KierynM USDCHF H4 trade post.png Size: 221 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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