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Trading Made Simple

  • #63,161
  • Nov 13, 2015 7:43am Nov 13, 2015 7:43am
Quoting Fbps
{quote} When I entered on 2nd candle, it was a sizeable candle - no long wick like what u see on chart. Perhaps I should take into consideration the doji candle 1.
Maybe experienced traders can confirm (or disagree), but actually the long upper wick is a good sign for upward movement. Just as HA candles. The lower wick would be a bad sign for an upward movement. Please, anyone correct me if I am wrong in this, because I do not want to make false statements and lead anyone into bad trades!

Now look at the red line. PA reacted several times in the past to it. It was both support and resistance. You bought right into it. It's like you are running into an elephant. Will you move the elephant, or will you fall on your back? Perhaps that's why the trade reversed? Be patient and wait. See if the line gets broken or if you get bounces off of it.

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Wait for other opinions, too. Don't take mine for granted.
  • #63,162
  • Nov 13, 2015 7:47am Nov 13, 2015 7:47am
Ok...
The new 4 hour apb is changing in 15 minutes.
Let's see how it looks.
sj
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  • #63,163
  • Nov 13, 2015 7:48am Nov 13, 2015 7:48am
Quoting snarlyjack3
{quote} Catalin, Forex Factory teaches newer traders to wait until the next apb changes. However, as you gain more experience most traders will just take the trade. It's all a matter of experience. Think of it as your a figure skater. When your first learning figure skating their are strict rules. However as you get really good at figure skating you start to open up & flow with it. But newer traders should wait until the next new apb & see what is happening on that bar before they take the trade. sj
Thanks for all the answers, SJ!
  • #63,164
  • Nov 13, 2015 7:53am Nov 13, 2015 7:53am
Quoting freebeans
What is a guppy?
A series of MAs. SJ uses them for visualizing the trend. There are 2 types: one for short term, the other for long term. SJ uses only the long term ones. They are all EMAs, all set to close: 30, 35, 40, 45, 50, 55, 60.
  • #63,165
  • Nov 13, 2015 7:59am Nov 13, 2015 7:59am
Quoting pips29
my first trade ,taken on H4 {image}
I had to use my phone to close out 1 position which was taken on the way up..why?? would you believe it....my computer just cut itself off and I had to start it up again and guess what???it was doing some updates and I had to wait...luckily all turn out well..below is the 15 min. chart of the trade
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the cautious seldom err....C
  • #63,166
  • Nov 13, 2015 8:04am Nov 13, 2015 8:04am
Quoting catalin_eros
{quote} Maybe experienced traders can confirm (or disagree), but actually the long upper wick is a good sign for upward movement. Just as HA candles. The lower wick would be a bad sign for an upward movement. Please, anyone correct me if I am wrong in this, because I do not want to make false statements and lead anyone into bad trades! Now look at the red line. PA reacted several times in the past to it. It was both support and resistance. You bought right into it. It's like you are running into an elephant. Will you move the elephant, or will you...
Thanks Catalin for your input. Lol...the elephant has his way...I was stampede flat on the ground.
  • #63,167
  • Nov 13, 2015 8:09am Nov 13, 2015 8:09am
Quoting adikashyap
{quote} It is better to get out immediately buddy .... or tighten ur SL .... check 1H candles ... BUOB bar and present candle just broke H of P C ... This W C is goin2 close above O ..... My 2 cents .......... {image}
thanks for your concern but I was fairly confident with my stop which was 2-3 pips above where price was rejected earlier and selling was to me was a better choice.I can understand your reasoning
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the cautious seldom err....C
  • #63,168
  • Nov 13, 2015 8:53am Nov 13, 2015 8:53am
Here is USD/CHF
Green crossing red and APB above PAC
nice trade for weekend

By the way have a good weekend for u all !!
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  • #63,169
  • Nov 13, 2015 8:55am Nov 13, 2015 8:55am
Quoting pips29
{quote} thanks for your concern but I was fairly confident with my stop which was 2-3 pips above where price was rejected earlier and selling was to me was a better choice.I can understand your reasoning {image}
Pips29,

If this is a daily chart trade...I like it.
It looks good. The 1 hour & 4 hour charts
cycle differently than the daily chart.
sj
  • #63,170
  • Nov 13, 2015 9:04am Nov 13, 2015 9:04am
Quoting snarlyjack3
{quote} Pips29, If this is a daily chart trade...I like it. It looks good. The 1 hour & 4 hour charts cycle differently than the daily chart. sj
snarly, it's the 4 hour chart
the cautious seldom err....C
  • #63,171
  • Nov 13, 2015 9:07am Nov 13, 2015 9:07am
Quoting pips29
nothing much to do before yellen speaks, so play around with this chart..It's H4ucad with US oil overlay..Oil has just broken a swing low whereas ucad has just broken a TL.I have drawn fibs on the chart and I believe ucad will test the 78.6 level once again and probably do a 100% retracement eventually if oil is to further weaken...just my thoughts..dyoa plz {image}
took this on the hourly....let's see if the loonie play out
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the cautious seldom err....C
  • #63,172
  • Nov 13, 2015 9:11am Nov 13, 2015 9:11am
there is another thread on here where the same system is used for the 15 mins chart is anybody using the 15 mins also I just took a scalp on the DAX and turned out good
  • #63,173
  • Nov 13, 2015 9:17am Nov 13, 2015 9:17am
Quoting trade786
there is another thread on here where the same system is used for the 15 mins chart is anybody using the 15 mins also I just took a scalp on the DAX and turned out good
you did well to short...below is the day chart
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the cautious seldom err....C
  • #63,174
  • Nov 13, 2015 9:19am Nov 13, 2015 9:19am
Thankyou pips 29 I looked at the 4hr and 1hr then traded of the 15
  • #63,175
  • Nov 13, 2015 9:23am Nov 13, 2015 9:23am
Not wishing to break into SJ classroom (good job man) but here are some basic trend following training wheels.
Put a 200ema and the attached EMA on your charts.
The very basic rule is
If price is below the 200ema you are possibly looking to sell, if it is above the 200ema you are possibly looking to buy.
If you trade H1 look at the ema on both H4 and D1 if it is red you are looking to sell, if blue buy. If you see a conflict find another pair until things become clearer. H4 trades need to look at D1 and W1. Remember these are training wheels and once you learn not to fall off you don't need them.
Another training wheel is wait for the APB to close above/below the 5 ema or PAC. This would have helped Fbps.
Last bit of info is wicks are bad!! Think why a wick is formed, it is because buyers have pushed the price up but sellers are fighting to push it back down. If there is no wick there is only one winner.

SJ if I'm getting in the way just say so and I'll go back to the wood shed
Attached File(s)
File Type: ex4 EMA.ex4   4 KB | 338 downloads
Never argue with a fool; onlookers may not be able to tell the difference.
  • #63,176
  • Nov 13, 2015 9:27am Nov 13, 2015 9:27am
H1 e/y....just look at the number of times price was rejected
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the cautious seldom err....C
  • #63,177
  • Nov 13, 2015 9:54am Nov 13, 2015 9:54am
US oil daily chart
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the cautious seldom err....C
  • #63,178
  • Nov 13, 2015 10:04am Nov 13, 2015 10:04am
Quoting Fbps
Where did I go wrong? My entry at 132.337 when TDI crossed and pointing up (12-2) on 2nd candle before it goes flat on 3rd candle. Stoch up as well. Also, candles are not small candles. Didn't see any S/R around my entry either. {image}
Before you take a trade on H1 take a glimpse at h4, if you had you wouldn't have entertained a buy where you did.
  • #63,179
  • Nov 13, 2015 10:22am Nov 13, 2015 10:22am
Quoting Lookleft
Not wishing to break into SJ classroom (good job man) but here are some basic trend following training wheels. Put a 200ema and the attached EMA on your charts. The very basic rule is If price is below the 200ema you are possibly looking to sell, if it is above the 200ema you are possibly looking to buy. If you trade H1 look at the ema on both H4 and D1 if it is red you are looking to sell, if blue buy. If you see a conflict find another pair until things become clearer. H4 trades need to look at D1 and W1. Remember these are training wheels and...

Thanks Lookleft...in this instance H4 & D1 200ema are both red. Just to confirm when you say conflict, does it mean that both H4 & D1 200ema for H1 chart must be same color for confirmation to trade?
  • #63,180
  • Nov 13, 2015 10:36am Nov 13, 2015 10:36am
Quoting lastingwell
{quote}Before you take a trade on H1 take a glimpse at h4, if you had you wouldn't have entertained a buy where you did.
Ok...thanks lastingwell...will confirm H4 chart next time. The 200ema from Lookleft is very useful.
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