DislikedLast 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.Ignored
- #63,182
- Nov 13, 2015 10:42am Nov 13, 2015 10:42am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Hi Folks,
You guys are working hard on a Friday. I woke up to check my trades as it is London closing now.
Look like the past 2 days USD weakness is over today. USDCAD is running up nicely, EU is back following the Weekly, GU pulled back from the short term resistance.
My EURGBP trades ran very ice this week following my weekly plan. Yesterady the retracement was quite deep but today it fell back down.
So I close my position this week in profit.
Should be good to start looking and plan fro next week trading.
regards,
You guys are working hard on a Friday. I woke up to check my trades as it is London closing now.
Look like the past 2 days USD weakness is over today. USDCAD is running up nicely, EU is back following the Weekly, GU pulled back from the short term resistance.
My EURGBP trades ran very ice this week following my weekly plan. Yesterady the retracement was quite deep but today it fell back down.
So I close my position this week in profit.Should be good to start looking and plan fro next week trading.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #63,183
- Nov 13, 2015 10:45am Nov 13, 2015 10:45am
{quote} 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?
Maybe I didn't explain myself very well. The ema I posted showed red on both H4 and D1 so I would only be looking to sell. By conflict I meant that sometimes you might see H4 showing red and D1 showing blue. This is when I would advise someone still finding their feet to look for an easier pair. You also might get a conflict where the 200ema is above the price indicating a possible sell but the other ema I posted (which is actually 89) is showing blue on H4 and D1. Again, I would recommend leaving that pair until you get the hand of it.
Hope that helps if not ask away and I'll try again
Never argue with a fool; onlookers may not be able to tell the difference.
- #63,184
- Nov 13, 2015 10:49am Nov 13, 2015 10:49am
Hi Folks, You guys are working hard on a Friday. I woke up to check my trades as it is London closing now. Look like the past 2 days USD weakness is over today. USDCAD is running up nicely, EU is back following the Weekly, GU pulled back from the short term resistance. My EURGBP trades ran very ice this week following my weekly plan. Yesterady the retracement was quite deep but today it fell back down.
- #63,186
- Nov 13, 2015 10:55am Nov 13, 2015 10:55am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #63,188
- Nov 13, 2015 11:17am Nov 13, 2015 11:17am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #63,189
- Nov 13, 2015 11:20am Nov 13, 2015 11:20am
- Joined Nov 2008 | Status: Trader | 50,194 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #63,190
- Nov 13, 2015 11:30am Nov 13, 2015 11:30am
{quote}With synergy apb candles, wicks at both ends and a small apb body means there could be a change in direction, if you look at the japanese candlestick of that candle you will see a bullish engulfing. The main problem with that trade is he didn't check the higher timeframe, that showed there was still a lot of selling pressure.
In fact anything the lady says is worth taking note of
Never argue with a fool; onlookers may not be able to tell the difference.
- #63,192
- Nov 13, 2015 1:37pm Nov 13, 2015 1:37pm
- Joined Jul 2013 | Status: Trader | 1,045 Posts
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.
Since APBs are just HAs, but calculated differently, I thought wicks on one side determine trend, the exact same way HAs do. A blue bar with an upper wick signifies uptrend. That's the rule for HA candles. I looked up some info about the APBs. Here is what I found:
That sustains my theory. On the other hand, when looking at SJ's pin bar APB, I went afterwards to a Japanese chart. Indeed, that APB pin bar was also on the Japanese candle. That sustains your theory.
In the end, which one is it? Do we treat ABP wicks as Japanese candle wicks, or as HA candles wicks?
Since I tend to rely on Japanese candles, I incline to say you were right. I'd like an answer from the pioneers, though. Let's make this crystal clear.LastingWell said it perfectly right, but she was referring to wicks at both ends, not on one end. On one end is what is bugging me.
- #63,193
- Nov 13, 2015 3:07pm Nov 13, 2015 3:07pm
- Joined May 2009 | Status: Consistency is Key!! | 1,297 Posts
- #63,196
- Nov 13, 2015 6:10pm Nov 13, 2015 6:10pm
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...
I know everyone trade differently so which one I should follow 200ema or 10ema or 89ema
as I'm new to TMS system and still learning. Next week I will go live so at least the ema could help me to pick the direction. Thank you.
Big Emma said http://www.forexfactory.com/showthre...21#post8573621
my suggestion is look at D1 chart and where the 10EMA is.
if D1 closed above the 10EMA, take buy trades only in H1.
if D1 closed ebelow its 10EMA, take sell trades only in H1.
always observe the day Open, 50 and 200EMA. Trade away from the Day Open and away from the 200EMA.
Cheers,
- View Post
- Hidden for breach of Trader Code of Conduct
- #63,198
- Nov 13, 2015 8:03pm Nov 13, 2015 8:03pm
- Joined Nov 2008 | Status: Trader | 50,194 Posts
GBPUSD 12 Nov D1 chart. Today is clearer what GU is doing. The day 'trend' remains strong and taking any counter trend trades in lower has higher risks. Today risk trading the D1 TMS setup is those short term resistance seen very nearby above. Short term buyers will be caution around those levels but the smart money can push price up if there are orders to fill above those two levels. We cannot see the orders but there are many order above and below. My historical resistance is 1.5286 and price can move across this +/-50pips in one candle or to...
GBPUSD Week 46 13 Nov close.
You may recall the post chart above and now look at how 13 Nov close below.
A red Doji Day candle (some may have green Doji , tht depends on your broker's price)
Keep It Simple, we treat Doji as neutral and that Day TMS setup is still valid for next week open trading. Tha APB remain blue and very little wick below.
The question some may ask. If you buy next week on Monday, where will you place your initial Stop Loss. Anyone has a suggestion?
On the Day chart above, we have 2 short term resistance on the trading chart. If you go down to the H1 TF, it will see interesting thing about market noise in lower TF. One reason why i don't trade H1 so much these days is this sort of market noise which will destroy many traders accounts.
My message to new traders will little experience is to start trading H4 and D1 chart TF. You will learn more and your win rate will be better, hence you will gain confidence a lot easier than doing it in H1.
Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett