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  • #58,961
  • Jul 20, 2015 2:17am Jul 20, 2015 2:17am
Quoting emmanuel7788
GBPUSD charts: {image} {image} {image} Note: On D1 chart I have one open buy positions. When market retraces with the WRB High-Low, I will build more positions with 0.2% risk each and up to maximum 5 positions (1% total risk) with technical SL below the WRB Low. Should the breakouk happens before deep retracement, I will scale-in position above the WRB High. Let see how this pair will run this week. I will provide my trade update when I have time. Have a good trading week folks, make good pips!
Emmanuel


Just two quick questions, I would like to ask :

1. During the retracement, does the SL of position 2~4 have to be the same as the position 1?
for example I setup 1.54440 as SL (under WRB Low) , then when I build positon2,3, or 4, should their SL be the same?

2. If it doesn't retrace and goes up, what are the next criteria to be based upon for building new position?
Should we change SL from below the WRB LOW to a new SL under a new support line?


Best regards,


Steven
Attached Image
  • #58,962
  • Jul 20, 2015 2:18am Jul 20, 2015 2:18am
Quoting mkfx
{quote} Hi Emmanuel, Thanks for sharing and educating about coming week outlook of EUR and GBP pairs. We are trying to understand the reasons / basis of outlook. I am learner here and want to understand HTF big picture. I am not able to understand some of pair's outlook. ECAD: Last week candle closed red (not bullish), however TDI angle is still very good. I feel there is conflict but your view is bullish, please can you explain in more detail how to take view in such conflicting situation. EGPB: weekly candle bearish and TFI angle is also down...

Hi,

EURCAD:
MN is bullish seen with the price bar/Japanese candlesticks.

W1 also bullish but last week was small candle consolidation.

D1 we have a WRB and market is sideways for 5 days within that WRB High-Low. The WRB low is support for buying in the lower TF H4 and I prefer H1 and M15.

Also looking at EURAUD and EURNZD, these pairs are bullish and are correlated with EURCAD. AUD,NZD and CAD are "commod" currency pairs and very much depends on the London markets.

EURGBP:
This is a very special pair with highest $pip value of US$16 per pip.
Its ADR 100 days is below 75pips and does not make sense to use ME/ME.
Current market is trading into historical support and can be show stopper for this pair.
With Greek banks re-opening this week and hopefully new funds from the new bailout package, the selling of EG will slow down and may even stop and reverse.
I only use this pair for recovery trades.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #58,963
  • Jul 20, 2015 2:49am Jul 20, 2015 2:49am
my counter trend for tonight, entered a bit late but the price action looks good
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  • #58,964
  • Edited 3:24am Jul 20, 2015 3:09am | Edited 3:24am
First trade from 500$ account that failed !
pay attention to the rules to be the winner !

This trade took at M30 GBPJPY

look at m30 and H1 : green is crossing red ( the angle is good ) and this may be a good one ;

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Attached Image (click to enlarge)
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but look at H4 ! H4 is going up .

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NEVER TAKE A TRADE IN OPPOSITE OF HIGHER TF !
NEVER TAKE A TRADE WHEN SMALL CANDLES !
  • #58,965
  • Jul 20, 2015 3:17am Jul 20, 2015 3:17am
This trade took in H1 AUDUSD

H1 and H4 are going up with good angle ! so could be a winner.

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but look at D1 ; D1 is going down ! so it changed to a looser one !
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NEVER TAKE A TRADE IN OPPOSITE OF HIGHER TF !
NEVER TAKE A TRADE WHEN SMALL CANDLES !
  • #58,966
  • Jul 20, 2015 3:36am Jul 20, 2015 3:36am
Quoting farhad10
First trade from 500$ account that failed ! pay attention to the rules to be the winner ! This trade took at M30 GBPJPY look at m30 and H1 : green is crossing red ( the angle is good ) and this may be a good one ; {image} {image} but look at H4 ! H4 is going up . {image} NEVER TAKE A TRADE IN OPPOSITE OF HIGHER TF ! NEVER TAKE A TRADE WHEN SMALL CANDLES !
Hi Farhad,

If you are trading at 30 Min TF , it is better you study the charts of Likika in TMs 30 min thread.

I trade lot on 30 min TF, but try to take trade when TID cross is supported by MBL (yellow line) I mean for short green should cut red below the yellow and for long opposite.

I will post today's my two trades.

http://www.forexfactory.com/showthre...42#post8389742

Thanks
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  • #58,967
  • Jul 20, 2015 3:43am Jul 20, 2015 3:43am
Quoting mkfx
{quote} Hi Farhad, If you are trading at 30 Min TF , it is better you study the charts of Likika in TMs 30 min thread. I trade lot on 30 min TF, but try to take trade when TID cross is supported by MBL (yellow line) I mean for short green should cut red below the yellow and for long opposite. I will post today's my two trades. http://www.forexfactory.com/showthre...42#post8389742 Thanks {image}
mkfx;

Thanks for your advice
but look at this post :Post 58,839

Just showing the mistakes! (educational )
will post winners soon

Look at your own trade :
Exactly what i said ! Trade toward higher time frame

Just look at M30 H1 H4 and D1

All are down ! so winner !
Attached Image(s) (click to enlarge)
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  • #58,968
  • Jul 20, 2015 4:42am Jul 20, 2015 4:42am
Quoting emmanuel7788
{quote} {quote} {quote} Hi, Here is what I saw as I had open positions. Your H1 entry was good and as there was consolidation seen on H4 with that Master candle[3]. That H4 breakout candle was nice with its last H1 (4xH1=H4) being the setup candle aka "Arjun candle". We need to give the trade time to breathe. Trust the higher TF and the intraday support and resistance. We shall see what happen next week. Follow the flow and what the price action shows us. {image} Have a Good Weekend.
tis maybe too late, but what do you mean by arjun candle?
Take What You Can , Give Nothing Back
  • #58,969
  • Jul 20, 2015 5:50am Jul 20, 2015 5:50am
Yes Baby....
My second Trade Today is a Winner too....Scalp the H1
But i dont have nuts for dont close the trade. I see 12 Pips Plus WOW....thats nice and close......
I think this is a Problem,,,,the system have rules but i dont accept.
Maybe thats why im born as a Scalper.....
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Jason
mia san mia since 1900
  • #58,970
  • Jul 20, 2015 6:01am Jul 20, 2015 6:01am
Quoting LazyTrad3r
Yes Baby.... My second Trade Today is a Winner too....Scalp the H1 But i dont have nuts for dont close the trade. I see 12 Pips Plus WOW....thats nice and close...... I think this is a Problem,,,,the system have rules but i dont accept. Maybe thats why im born as a Scalper..... {image} Jason
Its good that you are making profit! - But have you also thought about placing you sl? If we say that your al would have been at prev. swing high, you would have risking too many pips considering your tight tp.

Happy Trading :-)

M
MY SITTING, NEVER MY THINKING!
  • #58,971
  • Jul 20, 2015 6:05am Jul 20, 2015 6:05am
Quoting LazyTrad3r
Yes Baby.... My second Trade Today is a Winner too....Scalp the H1 But i dont have nuts for dont close the trade. I see 12 Pips Plus WOW....thats nice and close...... I think this is a Problem,,,,the system have rules but i dont accept. Maybe thats why im born as a Scalper..... {image} Jason
Hi

Good. I also have same problem but now what I am doing, closing partially and let remaining run for next support or resistance or RN

Thanks

MK
  • #58,972
  • Jul 20, 2015 6:11am Jul 20, 2015 6:11am
Quoting merrygold
{quote} Its good that you are making profit! - But have you also thought about placing you sl? If we say that your al would have been at prev. swing high, you would have risking too many pips considering your tight tp. Happy Trading :-) M
until now i trading always without SL i know im crazy but eelfraanz say the same....he isnt a fan from SL
mia san mia since 1900
  • #58,973
  • Jul 20, 2015 6:12am Jul 20, 2015 6:12am
Quoting mkfx
{quote} Hi Good. I also have same problem but now what I am doing, closing partially and let remaining run for next support or resistance or RN Thanks MK
this is a good idea....how much you close? fifty fifty?
mia san mia since 1900
  • #58,974
  • Jul 20, 2015 6:22am Jul 20, 2015 6:22am
Quoting LazyTrad3r
{quote} this is a good idea....how much you close? fifty fifty?
yes first close 50% than 30 or 40% and last remain up to 50 pips or more or till support /resistance.

Thanks
  • #58,975
  • Jul 20, 2015 6:27am Jul 20, 2015 6:27am
Quoting mkfx
{quote} yes first close 50% than 30 or 40% and last remain up to 50 pips or more or till support /resistance. Thanks
ok...i will try this....
and you not waiting for the exit in the TDI.....your Exit is SR-Zone?? Like me?
mia san mia since 1900
  • #58,976
  • Jul 20, 2015 6:54am Jul 20, 2015 6:54am
Quoting eelfranz
Tru... I hate S/l trading. The safest way is to place your S/L at the last hi or low a couple of candles back... I've never had one taken out that way...
My advice is that you learn to use sl, for your Capital protection, but also for valuable trades. Is it good risk reward when you are risking 20pips to gain 10pips?
Otherwise, read the cavemanager thread, or search cavemanager in this thread. - Its a ea which will trail your sl. I know emma is glad for it.

Happy Trading :-)

M
MY SITTING, NEVER MY THINKING!
  • #58,977
  • Edited 7:13am Jul 20, 2015 7:03am | Edited 7:13am
Quoting farhad10
This trade took in H1 AUDUSD H1 and H4 are going up with good angle ! so could be a winner. {image} {image} but look at D1 ; D1 is going down ! so it changed to a looser one ! {image} NEVER TAKE A TRADE IN OPPOSITE OF HIGHER TF ! NEVER TAKE A TRADE WHEN SMALL CANDLES !
You have several moving averages on your chart. Are you using them or just clutter? If you do have them on, make sure they mean something.

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EN:
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Best regards, Zef
  • #58,978
  • Jul 20, 2015 8:53am Jul 20, 2015 8:53am
Quoting ZeF
{quote} You have several moving averages on your chart. Are you using them or just clutter? If you do have them on, make sure they mean something. {image} EN: {image}
Oh no !
This is not my chart !
pls read this post :Post 58,970
Just showing the mistakes!

not several, just two moving : 200 and 50
you can use them for putting your TP and SL .


Regards
  • #58,979
  • Jul 20, 2015 10:26am Jul 20, 2015 10:26am
Farhad10, how do you get the arrows in the TDI indicator? Can you post it? Thanks.
  • #58,980
  • Jul 20, 2015 11:53am Jul 20, 2015 11:53am
Dear Emmanuel,
for ME/ME do you aleáis use as SL the low of 2 days before?
thank you so much for all!

[quote=emmanuel7788;8389343]{quote} You are welcome! For those who PM me asking me to show how ME/ME trading is done, here is my GBPUSD ME/ME trades done last week.
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