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Trading Made Simple

Quoting Ballistical
{quote} Very nice Phx. Thank you for posting! On Thursdays trade were you not concerned that your entry was still inside Wednesday's range? I know that many of your trades are taken on the break of an LO pullback candle (like in this instance) but I ended up missing half of the move by waiting for confirmation that price broke above Wednesday's high. Were you monitoring the trade as it approached Wednesday's high or did you not consider this to be a significant level? Also on Friday's trade, you took the trade immediately without waiting for a break...
See the post above with a revised chart.
Q1. No, price during the Asian session had already broken the Wednesday London session high but not the Wednesday London low. I entered the trade based on the information described in the post above.
Q2. See the post above. I think I answered this question there.
Quoting Phx62
{quote} Q1. There was a candle reversal formation completed by the Frankfurt candle, with 2 higher lows. I hesitated to take the price break below the Frankfurt candle for that reason. In addition, the low of the Asian session was higher than the low of the Wednesday London session and the high was higher indicating a possible long reversal following the pullback. The TDI did not cross down because the Frankfurt candle closed much higher than the low. If the 2nd London candle had broken below the Frankfurt candle again, I would have taken the short...
Thanks phx62 for your fast replay, will take your though process in breaking down structure prior London session opening and high and low of previous LO session trading day as well
I Have Learned to Take Some Losses to Make Profits
Quoting Phx62
{quote} See the post above with a revised chart. Q1. No, price during the Asian session had already broken the Wednesday London session high but not the Wednesday London low. I entered the trade based on the information described in the post above. Q2. See the post above. I think I answered this question there.
Thank you for the response Phx,

I think Scorps and I wrote at the same time, hence our similar questions.

That answers both my questions. It seems I need to pay more attention to the highs and lows in the hours leading up to London.

Thanks again!

Ballistical
Focus on the process and the profits will follow
Quoting Phx62
{quote} Q1. There was a candle reversal formation completed by the Frankfurt candle, with 2 higher lows. I hesitated to take the price break below the Frankfurt candle for that reason. In addition, the low of the Asian session was higher than the low of the Wednesday London session and the high was higher indicating a possible long reversal following the pullback. The TDI did not cross down because the Frankfurt candle closed much higher than the low. If the 2nd London candle had broken below the Frankfurt candle again, I would have taken the short...
Regarding the Q1, a bullish engulfing was also the first warning, then long lower wick candle (pinbar look alike) was the second warning. (LO candle formed another pin bar, which gave even stronger bullish bias). Lastly, if we open a SELL position when FO low was breaking, we expect a decent support only 20 - 30 pips below (historic support). That would also have discouraged opening a short position...
Attached Image
Simplicity is the ultimate sophistication - Leonardo da Vinci
Quoting Ballistical
{quote} Thank you for the response Phx, I think Scorps and I wrote at the same time, hence our similar questions. That answers both my questions. It seems I need to pay more attention to the highs and lows in the hours leading up to London. Thanks again! Ballistical
Ballistical, I tried breaking down structure on previous attempt to solve LO opening mystery, so this time will try the last hours leading to LO opens and see how this one goes, might give a good help, any under laying trend reversal or continuation might lies within those hours that lead to LO opens so give it a shoot in back-testing this week and on
I Have Learned to Take Some Losses to Make Profits
Quoting heispark
{quote} Regarding the Q1, a bullish engulfing was also the first warning, then long lower wick candle (pinbar look alike) was the second warning. (LO candle formed another pin bar, which gave even stronger bullish bias). Lastly, if we open a SELL position when FO low was breaking, we expect a decent support only 20 - 30 pips below (historic support). That would also have discouraged opening a short position... {image}
Having an idea as Phx62 showed in his last chart or a plan on structure before LO opens might be really good in helping avoid fakeys at LO , so as he showed PA was forming HL and then LO bearish candle was underlying fakey and since PA was in HL underlying trend that LO bearish candle might be another HL candle and LO set the low of the day

Obvious reason you mentioned here, bullish candle and support is only 20-30 pips away, perfect condition for LO to set the low on double bottom or HL
I Have Learned to Take Some Losses to Make Profits
Quoting Next4467
{quote} Hi WDays Great trading, can I ask you the name of the bar countdown timer on your chart and is it under the paperclip. I have one but its right near current PA and sometimes can be distracting. Thanks
I don't know where it is from, a friend of mine sent it to me after tweaking its code a bit. I tweaked it a bit to fit it on the topright corner, below the price label.
There you go, attached below
Attached File(s)
File Type: ex4 CInfo-v2.ex4   11 KB | 384 downloads
File Type: mq4 CInfo-v2.mq4   3 KB | 394 downloads
This week's EA trades. Some of the trades are similar to Ballistical. All on live account. Still need lots of work and practice.

Mon: 1 loser for 16 pips and second trade good for 50 pips.

Tue: Couldn't wake up at LO and late entry. BE trade

Wed: Perfect entry after price rejected from 200EMA and good TDI cross. Didn't notice red news so manually closed it for few pips. Will power is one of the thing I am practicing along with entries. Could be a easy winner for 50 pips. Didn't trade in LO as big move in Asian means choppy market in LO session.

Thu: Again late entry due to sleep. Still able to close for 39 pips profit

Fri: Did not trade due to too many red news and didn't have time to monitor.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_H1.png Size: 48 KB
Quoting WDays
{quote} I don't know where it is from, a friend of mine sent it to me after tweaking its code a bit. I tweaked it a bit to fit it on the topright corner, below the price label. There you go, attached below {file} {file}
Hi WDays! Thank u for sharing

Regards,
Winners Never Quit, Quitters Never Win
It happened again half an hour ago. 2 consecutive earth quake in 2 days. We all ran out from our houses for the shelter. Heavily disaster happened in Nepal. I wish our Nepali and Indian and other friends are safe.
Sad i'm not trying to understand PA
Quoting WDays
{quote} I don't know where it is from, a friend of mine sent it to me after tweaking its code a bit. I tweaked it a bit to fit it on the topright corner, below the price label. There you go, attached below {file} {file}
Thanks WDays.
Quoting omonisha
It happened again half an hour ago. 2 consecutive earth quake in 2 days. We all ran out from our houses for the shelter. Heavily disaster happened in Nepal. I wish our Nepali and Indian and other friends are safe.
Keep safe omonisha.
Quoting omonisha
It happened again half an hour ago. 2 consecutive earth quake in 2 days. We all ran out from our houses for the shelter. Heavily disaster happened in Nepal. I wish our Nepali and Indian and other friends are safe.
God yes, I heard about that, it was very strong from what I read... I hope you guys are doing alright.
Quoting omonisha
It happened again half an hour ago. 2 consecutive earth quake in 2 days. We all ran out from our houses for the shelter. Heavily disaster happened in Nepal. I wish our Nepali and Indian and other friends are safe.
BE safe OS, sorry to hear that, hope you are and ur family are safe
I Have Learned to Take Some Losses to Make Profits
Quoting omonisha
It happened again half an hour ago. 2 consecutive earth quake in 2 days. We all ran out from our houses for the shelter. Heavily disaster happened in Nepal. I wish our Nepali and Indian and other friends are safe.
Stay safe OS
Never argue with a fool; onlookers may not be able to tell the difference.
Attached Image (click to enlarge)
Click to Enlarge Name: GA Weekly.png Size: 83 KB


GA on a narrow bullish channel, with last 2 D1 candles forming a DOUBLE TOP on the last 2 D1 candles (set on LONDON SESSION). A TRIPLE TOP is also visible on the D1 chart, set in the past 3 weeks in LONDON SESSION.
Price lower level at H1 800 EMA (D1 200 EMA), with 4 bounces off the level (strong support?)
Bias is buy only - if I see clear breakthrough off of the s/r;
I'm looking for breakouts above the Double Top with TDI confirmation, or LH LL or HH HL Formations around FO / LO.

Price bounced off these s/r levels 4 times in April, and crossed them once. What's the chance now that price will either bounce off or continue bullish ? LO will show us...

A good weekend everyone.
Best regards, Zef
Quoting omonisha
It happened again half an hour ago. 2 consecutive earth quake in 2 days. We all ran out from our houses for the shelter. Heavily disaster happened in Nepal. I wish our Nepali and Indian and other friends are safe.
Omonisha, keep safe and good luck
Quoting omonisha
It happened again half an hour ago. 2 consecutive earth quake in 2 days. We all ran out from our houses for the shelter. Heavily disaster happened in Nepal. I wish our Nepali and Indian and other friends are safe.
Oh, sorry to hear that. Keep in safe place....
Simplicity is the ultimate sophistication - Leonardo da Vinci
Keep safe Omonisha. So sorry to hear that!
Quoting omonisha
It happened again half an hour ago. 2 consecutive earth quake in 2 days. We all ran out from our houses for the shelter. Heavily disaster happened in Nepal. I wish our Nepali and Indian and other friends are safe.
Yeah great loss of human lives. Stay safe OS
Winners Never Quit, Quitters Never Win
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