Trading is as simple as ABCD
- #6,942
- Jul 2, 2015 4:09am Jul 2, 2015 4:09am
- | Joined May 2009 | Status: Trader | 1,152 Posts
{quote} can you post same chart again but also showing the 15min channel too
- #6,943
- Jul 2, 2015 4:22am Jul 2, 2015 4:22am
- Joined Nov 2010 | Status: Trader | 4,484 Posts | Online Now
Short on eur/usd. divergence at the 5min upper band. {image}
If the 15 min was there as well then adds wait to the basically counter trend move then yes definately worth a shot..
Feel the Fear and do it anyway!!!
- #6,944
- Jul 2, 2015 4:26am Jul 2, 2015 4:26am
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Today's zone = Tomorrow's opportunity!
- #6,945
- Jul 2, 2015 4:30am Jul 2, 2015 4:30am
- Joined Nov 2010 | Status: Trader | 4,484 Posts | Online Now
USD/CAD Closed 2 positions +52 pips and letting the 3rd position run with a 35 point TS {image} MTPockets
Feel the Fear and do it anyway!!!
- #6,946
- Jul 2, 2015 4:30am Jul 2, 2015 4:30am
- | Joined May 2009 | Status: Trader | 1,152 Posts
{quote} Looks like a nice call but be careful selling into a 5 min uptrending channel, will work sometimes but the higher probability is to buy this at the 5 min lower band...Takes patience I know but they are the better 5 min touches..
- #6,948
- Jul 2, 2015 4:51am Jul 2, 2015 4:51am
- Joined Nov 2010 | Status: Trader | 4,484 Posts | Online Now
Just a quick post about these 15 min TMA signals that seem to be very powerful on my 1 min charts for entries especially if they coincide with other key levels like the 5min TMA or a 25 level or some past support or resistance level.
Heres a EURUSD chart from earlier today..
Notice the nice reaction candles as price comes down to the 15 TMA. Again get to BE fairly quickly, if they work they work, if they don't you're out for nowt...
Also be careful buying a strong downward sloping 15 min TMA or selling a strong up TMA always best to have either a flat TMA or even better one sloping your way...
Heres a EURUSD chart from earlier today..
Notice the nice reaction candles as price comes down to the 15 TMA. Again get to BE fairly quickly, if they work they work, if they don't you're out for nowt...
Also be careful buying a strong downward sloping 15 min TMA or selling a strong up TMA always best to have either a flat TMA or even better one sloping your way...
Feel the Fear and do it anyway!!!
- #6,950
- Jul 2, 2015 5:03am Jul 2, 2015 5:03am
- Joined Nov 2010 | Status: Trader | 4,484 Posts | Online Now
{quote} Yep your right. Out at BE and will look for stronger entries following your advice.
Well done good decision, always best to get out for as little damage as possible if it doesn't go your way...Remember these are 1 minute charts that present 100's of opportunities everyday, no need to hang on with hope, if your trade plan doesn't workout, then get out...
I see that its now pushing on up quite strongly but I wouldn't be interested in buying this unless it comes back to at least its 1 min lower band as its riding quite high up in the 5 min and 15 min channel. Remember treat this template like a road map, where do you want to be buying uptrends??? Thats right bottom of waves only so must be at least the bottom band on 1 min and even better the 5 min EVEN better 5 min and 15 min Lower bands.
This is trading in the upper part of the 5 min and 15 min and getting ever closer to the 15 min upper band where we can expect a better reversal. But as its sloping up I would want to see my 1 minute channel turn red before taking the sell signal. Mind you having said that if you look to the left we had a pretty good reaction last time it came up here, so maybe take the touch with a pending sell stop below first red candle???
You can see its struggling to get higher so could be a nice reversal on the cards here..
Feel the Fear and do it anyway!!!
- #6,953
- Jul 2, 2015 5:23am Jul 2, 2015 5:23am
- Joined Nov 2010 | Status: Trader | 4,484 Posts | Online Now
I'm still learning the tricks of trading these channels but I've got to say the early signs are very good...
Look at this chart again showing the sort of entires we are after but theres also something else on here of interest....
Look how the 5 and 15 min are sloping up quite steeply showing a strong trend and notice how it smashes through the 15 min upper band as if its not there??? Now I'm sure this will repaint itself a bit later and make it loook okish as it will move the 15 min TMA up so it looks like it hasn't been hit. However it has and smashed too, this is why I'm not keen to sell up sloping TMA touches on their own, its far too risky.
You have to get confirmation of the turn from your 1 min TMA in cases like this when selling up sloping 15 min TMAs like this GBPCAD trade below..
It smashed through its 15 min HMA because it was sloping up so you have to wait for the 1 minute to turn red and make its way back down then take a CCI sell signal..
Later today this will probably repaint and it will look like a really good signal so the only way to trade an opposite sloping 15 min TMA is like this.
I will post this gBPCAD chart again later to see how much it repaints out of interest and also to see how far this down move went against the 15 min trend...
Look at this chart again showing the sort of entires we are after but theres also something else on here of interest....
Look how the 5 and 15 min are sloping up quite steeply showing a strong trend and notice how it smashes through the 15 min upper band as if its not there??? Now I'm sure this will repaint itself a bit later and make it loook okish as it will move the 15 min TMA up so it looks like it hasn't been hit. However it has and smashed too, this is why I'm not keen to sell up sloping TMA touches on their own, its far too risky.
You have to get confirmation of the turn from your 1 min TMA in cases like this when selling up sloping 15 min TMAs like this GBPCAD trade below..
It smashed through its 15 min HMA because it was sloping up so you have to wait for the 1 minute to turn red and make its way back down then take a CCI sell signal..
Later today this will probably repaint and it will look like a really good signal so the only way to trade an opposite sloping 15 min TMA is like this.
I will post this gBPCAD chart again later to see how much it repaints out of interest and also to see how far this down move went against the 15 min trend...
Feel the Fear and do it anyway!!!
- #6,956
- Jul 2, 2015 5:56am Jul 2, 2015 5:56am
- Joined Nov 2010 | Status: Trader | 4,484 Posts | Online Now
Just bought this 5 min channel lower band but its looking decidedly shaky...
Thought as much knocked off at BE...
Probably best to leave things till after NFP
Thought as much knocked off at BE...
Probably best to leave things till after NFP
Feel the Fear and do it anyway!!!
- #6,957
- Jul 2, 2015 6:13am Jul 2, 2015 6:13am
- Joined Nov 2010 | Status: Trader | 4,484 Posts | Online Now
Came back so gave it another shot as the setups still there, nice up sloping 15 min and 5 min has been sloping up nicely and will probably repaint it nicely later to make my entry look perfect At a very nice BRN level so its got a chance and I'm gonna trry and hold this now and see if it keeeps going. Should do if Devon traders theorey holds up as looking at the 15 min chart its a nice pullback in a 15 min trend with the hrly trending up to..
And heres our 15 min chart looks good to go to me, but will it?????
Time will tell but I'm not looking much further than the 15 min higher band if I'm honest had too many come all the way back to me....but we're see how it goes??
Oh not the best day for this with NFP an hour away so sorry Jason will close it out sometime soon..
At a very nice BRN level so its got a chance and I'm gonna trry and hold this now and see if it keeeps going. Should do if Devon traders theorey holds up as looking at the 15 min chart its a nice pullback in a 15 min trend with the hrly trending up to.. And heres our 15 min chart looks good to go to me, but will it?????
Time will tell but I'm not looking much further than the 15 min higher band if I'm honest had too many come all the way back to me....but we're see how it goes??
Oh not the best day for this with NFP an hour away so sorry Jason will close it out sometime soon..
Feel the Fear and do it anyway!!!
- #6,958
- Jul 2, 2015 6:26am Jul 2, 2015 6:26am
Closing out before NFP.
Putting 108.3 pips in my pockets.
Didn't want to risk giving back anything I made.
I definitely love this trading method Clive & Devon put together. I just got to practice my entries and exits, I leave too much on the table and I'd rather have it in my pockets.
Still,
MTPockets
Putting 108.3 pips in my pockets.
Didn't want to risk giving back anything I made.
I definitely love this trading method Clive & Devon put together. I just got to practice my entries and exits, I leave too much on the table and I'd rather have it in my pockets.
Still,
MTPockets