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Trading Made Simple

  • #56,361
  • Apr 29, 2015 4:36am Apr 29, 2015 4:36am
Quoting emmanuel7788
Wide Range Bar study example with AUDJPY. {image}
Very informative
Winners Never Quit, Quitters Never Win
  • #56,362
  • Apr 29, 2015 4:59am Apr 29, 2015 4:59am
Quoting mordin
wow, everything went up so quickly, and it's falling... didn't expect that, missed the up move. Could be because of the FOMC news later?
nice bearish divergence formed on the GA. Might be just enough time before FOMC to get some pips.

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Best regards, Zef
  • #56,363
  • Apr 29, 2015 5:42am Apr 29, 2015 5:42am
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  • #56,364
  • Apr 29, 2015 6:11am Apr 29, 2015 6:11am
Quoting ZeF
{quote} nice bearish divergence formed on the GA. Might be just enough time before FOMC to get some pips. {image}
Got +20 x 2 pips on that. It's something. I did not take any other trades after the last US news, as I can not monitor because I'm on H4. I thought it is not safe.
I'll check again at home, just one hour before FOMC, but I suspect fear will prevent me from entering any trades, I just don't have enough confidence in my analysis to enter with news. Last time I did that, I went with what I thought it was the tide, and then bum, reversed.

Thanks
Had to be me. Someone else might have gotten it wrong.
  • #56,365
  • Apr 29, 2015 7:08am Apr 29, 2015 7:08am
Quoting mordin
{quote} Got +20 x 2 pips on that. It's something. I did not take any other trades after the last US news, as I can not monitor because I'm on H4. I thought it is not safe. I'll check again at home, just one hour before FOMC, but I suspect fear will prevent me from entering any trades, I just don't have enough confidence in my analysis to enter with news. Last time I did that, I went with what I thought it was the tide, and then bum, reversed. Thanks
Should have stayed in. Again, fear on the little pullback made me exit it. It was a clear PCRF on H4. Not quite a pinbar, but still a good signal.
Had to be me. Someone else might have gotten it wrong.
  • #56,366
  • Apr 29, 2015 7:39am Apr 29, 2015 7:39am
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  • #56,367
  • Apr 29, 2015 7:41am Apr 29, 2015 7:41am
Quoting mordin
{quote} Should have stayed in. Again, fear on the little pullback made me exit it. It was a clear PCRF on H4. Not quite a pinbar, but still a good signal.
This pair is quite volatile. Today i got stopped at BE after a 38 pip retrace and then price moved in my favor for 70+ pips.

This is because I've been using the CaveManager settings normal for EA, where a 21pip no-loss is ok and rarely does it come back.

Not the case with GA as far as I see
Best regards, Zef
  • #56,368
  • Apr 29, 2015 10:01am Apr 29, 2015 10:01am
Quoting ZeF
{quote} nice bearish divergence formed on the GA. Might be just enough time before FOMC to get some pips. {image}
Hello ZeF,

AU is at monthly R2 and the divergence is clear, it's in negative correlation with GA, so if it drop I see GA going to the upside.

regards,
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"the public is not yet ready for it" W.D. GANN
  • #56,369
  • Apr 29, 2015 1:48pm Apr 29, 2015 1:48pm
Hi!
It's been a long time posting here. I think I found the style that fits me and my lifestyle the most which is trading weekly charts.
I waited a long time to see the EU reverse, waited until blue volatility bands contracted, all lines are below 32 level and RSI line moves out of blue volatility bands. Here are some successful traders who trade this way on H4 charts but I'm working on my projects and thought it would be great to trade this on bigger TF's.

What can I improve?
And thanks for helping other traders!
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  • #56,370
  • Apr 29, 2015 5:42pm Apr 29, 2015 5:42pm
EURAUD H4 trade 29 Apr:
Took this trade 15 mins after US GDP release. There was not much down move reaction seen on M15.
Interesting week how this pair down down to test the Weekly/Day WRB Low and reverse so quickly.
Now we shall see if it will re-test the Weekly WRB High which is near the BRN 1.4000 also the 200EMA is close by.
Note, we are trading the last trading day of this April MN so we should see the MN candle close today.... shadow trading.

Note: WRB High-Low set the market range and are support and resistance.

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,371
  • Apr 29, 2015 5:48pm Apr 29, 2015 5:48pm
Quoting camron
Hi! It's been a long time posting here. I think I found the style that fits me and my lifestyle the most which is trading weekly charts. I waited a long time to see the EU reverse, waited until blue volatility bands contracted, all lines are below 32 level and RSI line moves out of blue volatility bands. Here are some successful traders who trade this way on H4 charts but I'm working on my projects and thought it would be great to trade this on bigger TF's. What can I improve? And thanks for helping other traders! {image}

Hi camron,
Welcome back!

Interesting that you have so many open buy positions.
You know that you are ranging market for several weeks?
Can you identify that weekly wide range bar WRB which set the rangng market?
If this week close above the Weekly WRB high, we may see a bullish EU but with the Greece decision next week, we expect more Euro volatility.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,372
  • Edited 6:30pm Apr 29, 2015 5:58pm | Edited 6:30pm
Quoting Kwt4x
{quote} Hello ZeF, AU is at monthly R2 and the divergence is clear, it's in negative correlation with GA, so if it drop I see GA going to the upside. regards, {image}

Hi,

AU strong bullish rally and just broke high this week.
Low timeframe correction is possible and to close this month but no reversal seen yet.
Divergence can fade away as they appear.

Study divergence trading in John Hayden' book "RSI:The Complete Guide".
You will learn lot about price behaviour and the RSI (TDI) behaviour, also also how to spot momentum discrepancy reversals.

RSI: The Complete Guide Post#27,110


regards,

Edit: added AU D1 chart
AUDUSD was trading in a range of about 250pips set by the Weekly WRB is early Feb. It has not traded above or below for several weeks.
Question is whether it can remain bullish and for how long. The next RBA rate decision is due soon.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,373
  • Apr 29, 2015 6:50pm Apr 29, 2015 6:50pm
Quoting hsn100
{quote} Hi BigEmm! yeah it's trending but initially i set TP 50% of ATR about 70 pips. Now will practise with CM tomorrow. Regards,{image}

HI HSN,

This trade closed for this month. CM did the work for us.

Attached Image (click to enlarge)
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regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,374
  • Apr 29, 2015 9:26pm Apr 29, 2015 9:26pm
Quoting emmanuel7788
EURAUD H4 trade 29 Apr: Took this trade 15 mins after US GDP release. There was not much down move reaction seen on M15. Interesting week how this pair down down to test the Weekly/Day WRB Low and reverse so quickly. Now we shall see if it will re-test the Weekly WRB High which is near the BRN 1.4000 also the 200EMA is close by. Note, we are trading the last trading day of this April MN so we should see the MN candle close today.... shadow trading. Note: WRB High-Low set the market range and are support and resistance. {image}

Dear Emman,

In the D chart, there is a bullish signal and has since tested the supported several times, how should this be played out in the next week?
  • #56,375
  • Apr 29, 2015 9:42pm Apr 29, 2015 9:42pm
Quoting birdnest
{quote} Dear Emman, In the D chart, there is a bullish signal and has since tested the supported several times, how should this be played out in the next week?

Hi,

On D chart, we see a Double Bar Low Higher Close DBLHC, this is bullish price action setup. But buying above the bullish D bar measn SL is below it, that too many pips for position sizing. the better way is trade lower TF H1 so that we can find a H1 setup with much smaller initial SL. Anyway, today is last trading day for this month, so we may see many longer term (buyers) traders exiting and not real sellers.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,376
  • Apr 29, 2015 10:03pm Apr 29, 2015 10:03pm
Quoting emmanuel7788
{quote} Hi, On D chart, we see a Double Bar Low Higher Close DBLHC, this is bullish price action setup. But buying above the bullish D bar measn SL is below it, that too many pips for position sizing. the better way is trade lower TF H1 so that we can find a H1 setup with much smaller initial SL. Anyway, today is last trading day for this month, so we may see many longer term (buyers) traders exiting and not real sellers. regards,

Thank you Emman!
  • #56,377
  • Apr 29, 2015 11:53pm Apr 29, 2015 11:53pm
GBPAUD H1 trades taken at Tokyo 6th hour, i.e the H1 before the Frankfurt Open FO candle.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD week 18 30April TOK trades.png Size: 56 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,378
  • Apr 29, 2015 11:56pm Apr 29, 2015 11:56pm
EURAUD H4 trade update:

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week 18 H4 trade USD GDP update.png Size: 48 KB


Moved protective stop behind the last H4 candle low. Now wait and see if my TP will be hit later.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,379
  • Apr 30, 2015 12:36am Apr 30, 2015 12:36am
Trades closed.

GBPSAUD H1

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EURAUD H4

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Now managing EURUSD M15...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #56,380
  • Apr 30, 2015 12:49am Apr 30, 2015 12:49am
Hi

I would like an alert on TDI that shows a message box "only" when the following conditions occur, after candle closes

BUY
- RSI Price Line just crosses up Volatility Band (High) from below, with both RSI Price Line and Volatility Band (High) below Overbought (68)
- RSI Price Line > 50
- RSI Price Line > RSI Trade Signal Line
- RSI Trade Signal Line > Market Base Line

SELL
- RSI Price Line just crosses down Volatility Band (Low) from above, with both RSI Price Line and Volatility Band (Low) above Oversold (32)
- RSI Price Line < 50
- RSI Price Line < RSI Trade Signal Line
- RSI Trade Signal Line < Market Base Line

For the indicator parameters, just use the standard 13,2,7,34

Please let me know if possible. Thanks a million!


RD1
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