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Trading Made Simple

  • #61,361
  • Oct 12, 2015 6:16am Oct 12, 2015 6:16am
Quoting wattaman
A question for those trading H4 (successfully), please. Are you guys waiting for the candle close or maybe refreshing the chart from time to time to catch the right entry? Thank you.

H4 has a big candle and you are in a cosolidation.
There is not setup candle and also no bullish price action during that H4 candle when you posted. that H4 candle closed with Doji.
If you really want to buy, better trade H1 or M15 until market breaks out of that H4 consolidation range.

There are so many pairs, go look for another pair to trade.

Do yourself favor, read Post#647 and apply that on your chart when you want to trade.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,362
  • Oct 12, 2015 6:24am Oct 12, 2015 6:24am
Quoting catalin_eros
{quote} Hi, Big Emm! That is a WRB, is it not? So we draw S/R levels on its top and bottom, and trade it on lower TF. So we should look for longs, since the price is at the bottom of the candle.
yes, that Weekly is a WRB.
If you look at MN chart, August is also a MN WRB and the 2.0900 is support.
This is very interesting when we are trading this month, it would be clearer after Oct MN close to see if we have a bearish reversal on MN.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,363
  • Oct 12, 2015 6:26am Oct 12, 2015 6:26am
Quoting emmanuel7788
{quote} H4 has a big candle and you are in a cosolidation. There is not setup candle and also no bullish price action during that H4 candle when you posted. that H4 candle closed with Doji. If you really want to buy, better trade H1 or M15 until market breaks out of that H4 consolidation range. There are so many pairs, go look for another pair to trade. Do yourself favor, read Post#647 and apply that on your chart when you want to trade.
LOL It must be something wrong with my English (not my language, sorry), nobody seems to answer my question. Let me rephrase:
Did Big E, in this thread, mentioned anything about having to wait for the H4 candle to close, or not?
Yes or no, please. I really can't find his writings about this and the forum search form doesn't help to much.
Let's make it simple, as the name of the thread suggests
Thank you.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #61,364
  • Oct 12, 2015 6:47am Oct 12, 2015 6:47am
Quoting wattaman
{quote} LOL It must be something wrong with my English (not my language, sorry), nobody seems to answer my question. Let me rephrase: Did Big E, in this thread, mentioned anything about having to wait for the H4 candle to close, or not? Yes or no, please. I really can't find his writings about this and the forum search form doesn't help to much. Let's make it simple, as the name of the thread suggests Thank you.
You dont have to wait for the candle to close, if you get a set up you enter if all the rules are met, if you wait for candle to close you will be late on the entry and 8 out of 10 times only enter on candle 3, and we dont enter on candle 3, one of the rules
  • #61,365
  • Oct 12, 2015 6:48am Oct 12, 2015 6:48am
Quoting wattaman
{quote} LOL It must be something wrong with my English (not my language, sorry), nobody seems to answer my question. Let me rephrase: Did Big E, in this thread, mentioned anything about having to wait for the H4 candle to close, or not? Yes or no, please. I really can't find his writings about this and the forum search form doesn't help to much. Let's make it simple, as the name of the thread suggests Thank you.

Look at all his training charts. The answer is yes.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,366
  • Oct 12, 2015 6:50am Oct 12, 2015 6:50am
Quoting stefan17
{quote} You dont have to wait for the candle to close, if you get a set up you enter if all the rules are met, if you wait for candle to close you will be late on the entry and 8 out of 10 times only enter on candle 3, and we dont enter on candle 3, one of the rules


http://www.forexfactory.com/showthre...22#post8532022
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,367
  • Oct 12, 2015 6:53am Oct 12, 2015 6:53am
Quoting coldvinc
Anyone following GBPUSD as well? On the H4 TF I saw bearish trade appearing which I took but I'm now wondering if I didn't overlook something? It seems like a sold trade and my STP is set at 1.5360. As for TP I'm looking at 1.5050 or even 1.49xx region. {image}
Can this be considered a fake signal? We are a new trading week and my trade got stopped and the market even moved in the complete opposite. Or is it because I looked at the H4 too much and expected too big of a move?
  • #61,368
  • Oct 12, 2015 7:05am Oct 12, 2015 7:05am
Quoting emmanuel7788
{quote} http://www.forexfactory.com/showthre...22#post8532022
Thanks buddy.
  • #61,369
  • Oct 12, 2015 7:12am Oct 12, 2015 7:12am
Quoting stefan17
{quote} You dont have to wait for the candle to close, if you get a set up you enter if all the rules are met, if you wait for candle to close you will be late on the entry and 8 out of 10 times only enter on candle 3, and we dont enter on candle 3, one of the rules
Thanks man. I was waiting for candle close on H1, but H4 seems to long and the entire 'move' could be only one candle, that's why I am asking. I now this method's rules, just confused about this only one issue.
Emmanuel, you're confusing me, man. You say yes but you agree with Stefan, who said no. BigE's charts show vertical lines on the entry candle, they don't point the exact entry price so I don't know if he's waiting for that candle to close or not. Unless he's wrote it somewhere here and then Stefan is wrong?!
Anyway, thanks again.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #61,370
  • Oct 12, 2015 7:13am Oct 12, 2015 7:13am
Quoting coldvinc
{quote} Can this be considered a fake signal? We are a new trading week and my trade got stopped and the market even moved in the complete opposite. Or is it because I looked at the H4 too much and expected too big of a move?

when market is in consolidation, we should avoid trading that chart timeframe where there is TDI cross and especially where there is recent support seen. You sold into support.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,371
  • Oct 12, 2015 7:17am Oct 12, 2015 7:17am
Quoting wattaman
{quote} Thanks man. I was waiting for candle close on H1, but H4 seems to long and the entire 'move' could be only one candle, that's why I am asking. I now this method's rules, just confused about this only one issue. Emmanuel, you're confusing me, man. You say yes but you agree with Stefan, who said no. BigE's charts show vertical lines on the entry candle, they don't point the exact entry price so I don't know if he's waiting for that candle to close or not. Unless he's wrote it somewhere here and then Stefan is wrong?! Anyway, thanks...

there was no H4 setup candle in that USDCHF H4 when you posted... simple as that.
If there is a setup candle APB#1 confirmed, then we can enter in the next candle without waiting for the close. That is entry during APB#2.

Do you want to enter during APB#1?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #61,372
  • Oct 12, 2015 7:45am Oct 12, 2015 7:45am
Quoting emmanuel7788
{quote} there was no H4 setup candle in that USDCHF H4 when you posted... simple as that. If there is a setup candle APB#1 confirmed, then we can enter in the next candle without waiting for the close. That is entry during APB#2. Do you want to enter during APB#1?
Ohhh, I see. Never mind the UsdChf, that was another question hours ago. I'm clear now.
UsdChf seems to form a weak channel-up on H1, but those are often broken down, so definitely no buy for now.
Cheers.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #61,373
  • Oct 12, 2015 8:52am Oct 12, 2015 8:52am
GBPAUD 1H candle closes in 8 min.

I'm contemplating a long if it closes across 5EMA. But time of day would suggest staying on sidelines I guess.
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  • #61,374
  • Oct 12, 2015 9:18am Oct 12, 2015 9:18am
Quoting tibovwh
GBPAUD 1H candle closes in 8 min. I'm contemplating a long if it closes across 5EMA. But time of day would suggest staying on sidelines I guess. {image} {image}
Its being in a big down trend I would wait on more confirmation that is ready to reverse. Just my thoughts
  • #61,375
  • Oct 12, 2015 11:18am Oct 12, 2015 11:18am
What does the acronym APB#1 mean?
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,376
  • Oct 12, 2015 11:21am Oct 12, 2015 11:21am
APB= Average price bars
  • #61,377
  • Oct 12, 2015 11:28am Oct 12, 2015 11:28am
Quoting wealthpro
APB= Average price bars
Thanks
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #61,378
  • Oct 12, 2015 12:00pm Oct 12, 2015 12:00pm
Quoting Freefox
What does the acronym APB#1 mean?
Dean Malone's amended version of Heiken-Ashi candles. Said to be slightly more responsive to price than HA.
  • #61,379
  • Oct 12, 2015 12:12pm Oct 12, 2015 12:12pm
Quoting Ballistical
{quote} Hi Feidao, My two cents As far as I know nothing changed ref. London trading hours on Oct 1st... UK clocks do not change until the end of October. TSS was not actively trading during FO. His entry was taken on the LO candle upon a break above the FO candle (as PHX62 demonstrated many times) Hope this helps. Ballistical
sorry,it is my mistake
  • #61,380
  • Oct 12, 2015 12:13pm Oct 12, 2015 12:13pm
Quoting TheScorpS
{quote} As BS said , LO still didnt changed timings so we are still good for the rest of this month I guess , wish it stays like this
Yes, I already check the session setup.thanks
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