Another simple system - Time-Frame 15

EMMA and I are good now, so I humbly ask everybody to just drop the drama and and get back to trading.

GAPS, GAPS, GAPS... There are those who claim that gaps always get filled ( form my stock and option trading days). What they forget to mention is that it may take hours, days, weeks, months and years sometimes for them to get filled. Maybe a few NEVERS as well.

Are there traders who trade the gap fills and make money? I think so but I don't trade gaps.

Due to presence of gaps and the sad events which took place over the weekend. Talking heads on the loose today. I expected higher volatility than usual. Would my SL of 8-14 pips on M5 be safe? My sniper trading type mentality on M5 overruled my machine gun wielding trading mentality and I didn't take any M5 trades today and won't be available to trade the rest of today. I know how boring.

Closed a a multiple entry trade from last week and a couple of GN M30 trades.

Hello all,

Here are my short on eur/usd today, SL @ 16 pips. I enter after PA rejected the 200ema and day open.

@meihk ..market is like a comatose....spinning top ...

Spotted this GA long trade on M15 while waiting on EU M5 setup. Nice BOUNCE trade with a ton of support below and trend line break ( confluence) to push the price up. Pre London Open (LO) trades are riskier.

EU M5 short trade. Trend for today is down just look at the price since the open ( 2 EMAs on the chart confirm) so we look for a short trade. First yellow box, price dropped nicely. Second yellow box, price just hanging around and not doing anything. I was waiting for a decent move down and away form the blue EMA and then a retest ( retrace) to the blue 30 EMA ( 30 EMA on M5=10 EMA on M15) to take a short trade.

In this thread we take BOUNCE and/or TOUCH ( anticipation of the BOUNCE) trades from important levels and EMAs. TOUCH trades are the more advanced type of trades and a little riskier since they are taken when the BOUNCE hasn't been confirmed. Price could continue to move and in its original direction and not BOUNCE and that is why you have got to use SL. The advantage of TOUCH trades is that you get in earlier and at the possible turning point with smaller SL and possibility of reaching you TP is more likely. Do these setups always work? NO.

Price moved down and BOUNCED from RN ( round number) and retested the blue EMA. It took the trade and it came close to BE but went down and I closed my trade. Again Pre London open trades are riskier but once you gain enough experience you may take them at your own risk.

EU M5 current day trend (up) trade, looking for a BOUNCE UP from RN (important level). Took the TOUCH trade, SL of 8.0 pips, moved to BE at +7.0 pips, gain of +11.0 pips. It is not just some random trading. First image is before and second image is after, got to have a trade plan and execute with extreme prejudice.

What would I have done if price never got to the RN (yellow zone)? Nothing, just look and wait for the next setup.

How many times can you trade from the same level? That is something that you got to find out for yourself after gathering stats!

2 longs on the 15 min..one reached target, the other closed manually

Next, trend continuation TOUCH ( BOUNCE anticipation) trade from 4HR 10 EMA (important level).

Why did I close my first trade for 11.0 pips? The upper yellow zone (4HR 10 EMA)!

Do these setups always work? NO.

Great stuff.

Thx

You are welcome Helee.

Advanced Tip: Price fell back to 4HR 10 EMA, so we take another long trade? No...

First, it is the low volatility time of the market. Second, you got to be able to read price action. The way and the momentum price reaches a possible important trade level is very important! Price dropped from the top then went sideways (Green box) and then dropped again. Like LE1 used to say: " Are they Buying or Selling? " I decided that selling pressure was stronger, so No trade for me ( sit on my hands). I consider the Green box, consumption of Buy orders. Just trying to explain my NO trade decision process.

Remember, this is a M5 chart and EU may rally or drop 100s pips from here! This is only a micro view. I make my trading decisions based on what I see at the present time and try to predict the future movement of 8-20 pips . I don't have a crystal ball. I am done for today.

Here are a few of my older trades on M5, some were already posted here without any explanation and a few which were not posted on this thread. Do all of these setup work 100% if the time? Absolutely NOT.

The infamous trade. Price below both EMAs ( trend down)+ PA+ blue EMA on top near 4HR 10 EMA+4HR 10 EMA (confluence)= Short TOUCH trade

Top yellow box is RN (important possible trade level) + PA and price below both EMAs= Short TOUCH Trade

Lower yellow box, continuation trade + blue EMA and price below both EMAs= Short TOUCH Trade

Price below both EMAs+ RN+ PA = Short TOUCH Trade

Price below both EMAs+PA+RN+ Blue EMA on top of RN= Short TOUCH Trade

Price above both EMAs+RN+PA= Long TOUCH trade

hey pips ninja awesome trading 1 question u have Emas that u refer to as 4hr Emas how can use them for multitimeframe analysis

Thanks, the whole concept of this thread is the 10 EMA. Price reacts when it reaches 10 EMA. The higher the TF ,the bigger that reaction is going to be when it reaches 10 EMA. You are correct, the indicator shows 10 EMA on different TFs, helps you know where price is in relation to 10 EMA in different TFs.

TF= Time frame

I am a very humble trader and am learning everyday and make mistakes as well, but please read post #26,093 and post #26,094. If you look at my earlier M5 trades posted on this thread, you notice that I am not quite as aggressive as I used to be in taking trades from every level, trend and counter trend trades. I am more selective today.

This is just for making a point, isn't meant to offend anyone and I don't claim to be all that. Just because you have seen an F1 driver, drive a Formula 1 car on TV, it doesn't mean you can get in a Formula 1 car and start racing tomorrow. I am no Lewis Hamilton.

Things that make you Go Hmmm. This is just coincidence, even a broken clock is right twice a day. I am out.

hey thanx pipsninja how do I get the multitimeframe ema