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  • #56,041
  • Apr 20, 2015 1:55am Apr 20, 2015 1:55am
hi guys after try trading the H1 TF only on E/J E/U G/U and G/J and quite profiting now i want to try to trade the m15 chart only on E/U pair or G/U if the Euro have a news nearby(i am trying to avoid news or should i just try trade the news?)

been learning the m15 from phx pdf and see the main key of m15 is the TDI cross and price action....hope the m15 tf is more convinience to me than the h1.I am trading only the london session for 3-4 hour
  • #56,042
  • Apr 20, 2015 2:45am Apr 20, 2015 2:45am
Quoting Trader MT4
Hello Emmanuel and friends, is my Analyse correct? {image}
http://www.forexfactory.com/attachme...1&d=1429509469

Hi,

It is always good to do some form of technical analysis ahead so that when we see a TDI cross, we are better prepared to decide to take the trade setup or not. If we wait till we see a TDI cross then start doing our analysis, it not not make good sense. Experience traders running commercial sites often show us how they do their top down analysis as a form of trade planning preparations. Good to learn from these experienced traders.

In the case your your H4 trade setup above, a few simple checklist question which we can ask quickly:-
taken from post#647.

How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation area

Are the previous candles small...

How does the momentum look right now (12-2, 4-6)

Once you have answered these checklist questions above, the trade Go/NoGo decision is clear.

but the challenges many TMS traders face are -

- is how to identify consolidation area?

- how do you distinguish between big and small candles? this can be subjective.

- again the TDI angle seen is rather visual and that depends on our screen ration and zoom factor.

Now back to the chart posted above,

EJ H4 is in consolidation, seen with the wider range Bar WRB. That WRB set the high - low range. Therefore when we seen such condition, we do not take any TDI cross setup but we drop down to the next lower timeframe , in this case it will H1 to trade. The WRB high-low is now our support and resistance.

Keep it simple.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,043
  • Apr 20, 2015 2:55am Apr 20, 2015 2:55am
Quoting Phx62
Only three trades this week. One has already been posted. Here are the other two.{image}{image}
My question goes to you phx62. I noticed you used channels for profit targets before but it seems you have stopped why? A the SHI channels not working any more?
  • #56,044
  • Apr 20, 2015 2:57am Apr 20, 2015 2:57am
Well my trailing to hit, but initially this GJ short was set and forgotten last night as a sell-stop pending order below the last swing low, with an expiration 1 minute before LO, a 50 pip SL and 50 pip TP. I set a 30 pip trailing stop (mt4 built-in one), which eventually trailed it to 7 pips of profit, after price dropped as far as 40 pips from my entry point. I set it so because price was right above the 200EMA (around 40 pips) and despite price making lower swing highs and lows I like being cautious and do not enjoy letting winners turn into losers.

So I'll take my +7 pips and enjoy my coffee now
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 26 KB
  • #56,045
  • Apr 20, 2015 3:13am Apr 20, 2015 3:13am
I seem to cant find a pair to trade for profits in the last and this week.
  • #56,046
  • Apr 20, 2015 3:18am Apr 20, 2015 3:18am
EURCAD 20 Apr H1 trades:
Simple trade, H4 candle close bearish below BRN 1.32000, H1 close below day Open, below PAC.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD week 17 20 Apr H1 trades.png Size: 38 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,047
  • Apr 20, 2015 3:19am Apr 20, 2015 3:19am
Quoting birdnest
I seem to cant find a pair to trade for profits in the last and this week.
Majors you don't need to constantly look at 40 pairs, and you don't need to constantly be in a trade. Try checking 4 pairs every morning - EU, GU, EJ, GJ and be careful not to take a short on EU if GU is going up or vice versa. Be aware that GBP crosses are highly speculative and are moving a lot more often and sometimes further than euros and try to implement that in your trading plan.

The way I see it in my backtests, even by picking just one of those 4, you can manage to get between 30 and 100 pips every day, every month with TMS
  • #56,048
  • Apr 20, 2015 3:20am Apr 20, 2015 3:20am
Quoting birdnest
I seem to cant find a pair to trade for profits in the last and this week.

which currency pairs are you looking at? and which TF?

you don't need to monitor 25 currency pairs as what someone suggested. Start with EU and GU pairs like I suggested before.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,049
  • Apr 20, 2015 3:30am Apr 20, 2015 3:30am
Quoting emmanuel7788
{quote} {image} Hi, It is always good to do some form of technical analysis ahead so that when we see a TDI cross, we are better prepared to decide to take the trade setup or not. If we wait till we see a TDI cross then start doing our analysis, it not not make good sense. Experience traders running commercial sites often show us how they do their top down analysis as a form of trade planning preparations. Good to learn from these experienced traders. In the case your your H4 trade setup above, a few simple checklist question which we can ask quickly:-...

Hello BigEmm,
thanks for correction and answer.

Look my pictures, I think so, I made one mistake, CONSOLIDATION.
Or I made other mistakes?
Thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: downtrend.png Size: 23 KB
Click to Enlarge Name: momentum.png Size: 10 KB
Click to Enlarge Name: previous.png Size: 29 KB
Click to Enlarge Name: support.png Size: 38 KB
Attached Images
  • #56,050
  • Apr 20, 2015 3:42am Apr 20, 2015 3:42am
Quoting emmanuel7788
{quote} which currency pairs are you looking at? and which TF? you don't need to monitor 25 currency pairs as what someone suggested. Start with EU and GU pairs like I suggested before.
Ok. Even in EU/GU, I can't understand the setup. EU and GU seems to be losing the momentum in bullish trend.
  • #56,051
  • Apr 20, 2015 4:01am Apr 20, 2015 4:01am
Quoting Trader MT4
{quote} Hello BigEmm, thanks for correction and answer. Look my pictures, I think so, I made one mistake, CONSOLIDATION. Or I made other mistakes? Thanks {image} {image} {image} {image} {image} {image}
Hi,

just look at the H4.
I made my comments on the H4 chart you posted.
You see that last week 15 to 17 Apr it was trending up but the weekly trend is down. So is the monthly bias.

Attached Image (click to enlarge)
Click to Enlarge Name: TraderMT4 EJ H4 WRB.png Size: 25 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,052
  • Apr 20, 2015 4:03am Apr 20, 2015 4:03am
Quoting birdnest
{quote} Ok. Even in EU/GU, I can't understand the setup. EU and GU seems to be losing the momentum in bullish trend.

Did you use the Synergy_Pro_APB with PAC on H1?
i see several H1 trades for EU and GU.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,053
  • Apr 20, 2015 4:27am Apr 20, 2015 4:27am
EURCAD H1 trade update:
TP2 exited +50pips.
TP3 now moved stop to EP +25pips.
Expect price to react at the next BRN 1.3100, but selling momentum is good after the PA broke below the LO candle.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD week 17 20 Apr H1 trades update 2.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,054
  • Apr 20, 2015 4:33am Apr 20, 2015 4:33am
NZDJPY week 17 H1 20 Apr

Do we see a bearish reversal chart pattern?

Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPY week H1 reversal chart pattern.png Size: 74 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,055
  • Apr 20, 2015 4:51am Apr 20, 2015 4:51am
Quoting emmanuel7788
NZDJPY week 17 H1 20 Apr Do we see a bearish reversal chart pattern? {image}
Hi Emmanuel, any reason why you drew the trendline from there (red) and not from here (blue)
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH1.png Size: 55 KB
the cautious seldom err....C
  • #56,056
  • Apr 20, 2015 5:01am Apr 20, 2015 5:01am
Hi Emanuel,

could you tell us which currencies you have on your screen?
Demand is not one wants, but what one can pay for
  • #56,057
  • Apr 20, 2015 5:08am Apr 20, 2015 5:08am
Quoting emmanuel7788
NZDJPY week 17 H1 20 Apr Do we see a bearish reversal chart pattern? {image}

Double Top and Divergence
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy.png Size: 37 KB
  • #56,058
  • Apr 20, 2015 6:39am Apr 20, 2015 6:39am
Quote
EURCAD H1 trade update:
TP2 exited +50pips.
TP3 now moved stop to EP +25pips.
Expect price to react at the next BRN 1.3100, but selling momentum is good after the PA broke below the LO candle.

Hi Big Emman,
Excellent trade, very informative for new traders like me. thnx a lot for sharing.
Winners Never Quit, Quitters Never Win
  • #56,059
  • Apr 20, 2015 7:24am Apr 20, 2015 7:24am
Quoting hsn100
{quote} Hi Big Emman, Excellent trade, very informative for new traders like me. thnx a lot for sharing.

Hi hsn,

this EURCAD H1 trades just closed.
The re-bound from BRN 1.3100 hit my protective stop.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD week 17 20 Apr H1 trades update3.png Size: 41 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,060
  • Apr 20, 2015 7:29am Apr 20, 2015 7:29am
Quoting roterio
Hi Emanuel, could you tell us which currencies you have on your screen?

Hi roterio,

I monitor 15 currency pairs.
See this TMS Monitor
http://www.forexfactory.com/showthre...40#post8216340

What is more important is I do my Big Picture Plan for all 15 currencies pairs every weekend and I would only look for trades in the 12 pairs. usually 3 to 5 trades a week.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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