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Trading Made Simple

  • #65,541
  • Feb 7, 2016 3:54am Feb 7, 2016 3:54am
How close am I to the previous high or lo
There's not much history to look left on in this pic, but from what we can see, there are areas of interest. The second and third bar from left are of interest. The current bar is about to it the third, and the high of the second (R) is the low (S) of the WRB - 11 bars from right. So the answer is "close"

Am I in an uptrend or downtrend.. short & long term...
Hard to tell a trend from what we have on the chart. From what we have I'd say short term up trend that has flattened.

Am I in or close to a consolidation area
consolidation for last half day.

Are the previous candles small...
a mixture of small bars with wide breakout attempts.

Look at the candles on the last reversal... big, little, what
Big bars in the recent bull surge.

How does the momentum look right now (12-2, 4-6)
The angle on the bounce bar was good but it has 'tweaked' (ie. flattened) on the last bar.

Does Stoch's confirm the TDI signal
Stoch angle is strong but a quite close to 20
  • #65,542
  • Feb 7, 2016 4:11am Feb 7, 2016 4:11am
Quoting emmanuel7788
AUDJPY Week 06 ME/ME trading 8 Feb to 19 Feb. Sell only. {image}
Interesting. There are some significant areas of support in Aug and Sept 2015 that we are touching right now (your purple Big Picture Plan lines). I assume your first entry was on last bar/TDI cross - so you are 160+ pips to the positive already Would you propose adding to the trade when price passes your next two purple lines, or are you not concerned by them?
  • #65,543
  • Feb 7, 2016 5:16am Feb 7, 2016 5:16am
Quoting emmanuel7788
{quote} Hey folks, it is weekend time, so why not give this little trading quiz a try? you will learn how to interpret Post#647 and apply that on your chart every time you want to trade. Also there is a little secret about the TDI and Price Action. Give this a try before I post my answer. {image} Have Fun.
Hi Emmanuel, it has been a long time !
Finished university, started working for more than a year now, invested in stocks for the long term but an old love doesn't rust (do we say that in English ? ) and the forex market is again calling my name Best place to start again is the TMS thread.

To answer your quiz question:
I wouldn't take the trade. Candles look a little messy and PA is more or less range bound. There seems to be sufficient resistance to hold the price up.
Base line (yellow) is trending up and above the 50 line, TDI is down (green) but not convincingly. Given the present conditions, without looking at a higher timeframe I would be more inclined to wait for a buy trade once the various conditions are met rather than a sell trade.

All comments are welcomed :nerd:
Don’t ever let someone tell you that you can’t do something.
  • #65,544
  • Feb 7, 2016 5:27am Feb 7, 2016 5:27am
Quoting emmanuel7788
{quote} Hey folks, it is weekend time, so why not give this little trading quiz a try? you will learn how to interpret Post#647 and apply that on your chart every time you want to trade. Also there is a little secret about the TDI and Price Action. Give this a try before I post my answer. {image} Have Fun.
A neutral trade for me with no clear advantage being held by either side. We are in consolidation and despite the pin (although wrongly coloured and after only 1 previous opposing candle) 3 candles back there is a good amount of upward pressure to keep things moving sideways. There is a nice bounce on the TDI (although it has flattened slightly) and stoc confirms the downward movement but PA says something different for me. I guess if i was to offer an opinion this would be a good example of not taking every cross or bounce without considering PA first.

To confirm, this is not a trade i would be taking.
  • #65,545
  • Feb 7, 2016 5:30am Feb 7, 2016 5:30am
Quoting Bladerunn3r
{quote} A neutral trade for me with no clear advantage being held by either side. We are in consolidation and despite the pin (although wrongly coloured and after only 1 previous opposing candle) 3 candles back there is a good amount of upward pressure to keep things moving sideways. There is a nice bounce on the TDI (although it has flattened slightly) and stoc confirms the downward movement but PA says something different for me. I guess if i was to offer an opinion this would be a good example of not taking every cross or bounce without considering...
Agreed. To be clear, I would skip this trade also.
  • #65,546
  • Feb 7, 2016 6:23am Feb 7, 2016 6:23am
EURAUD 5 Feb H1 trade setup.

attached pdf is my "answer".

we must have a daily routine tasks when we want to trade H1 intraday.

start the day by looking at how the previous days traded.

use a simple Triple Screen view or simply switch your chart TF and remember a few details.

we tend to look at the pros and cons of the trade setups, and also the risks.

but we often forget the opportunities which lies ahead.
Attached File(s)
File Type: pdf EURAUD 5 Feb H1 SWOT POMO.pdf   504 KB | 889 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,547
  • Feb 7, 2016 6:37am Feb 7, 2016 6:37am
Quoting Armacom
{quote} Hi Emmanuel, it has been a long time ! Finished university, started working for more than a year now, invested in stocks for the long term but an old love doesn't rust (do we say that in English ? ) and the forex market is again calling my name Best place to start again is the TMS thread. To answer your quiz question: I wouldn't take the trade. Candles look a little messy and PA is more or less range bound. There seems to be sufficient resistance to hold the price up. Base line (yellow) is trending up and above the 50 line,...

Hello,

welcome back!
Congratulations on completing your Uni. It was fun time, wasn't it...

save up enough capital for forex and you can build s second income stream while you keep your day job career.

Best Wishes!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,548
  • Feb 7, 2016 6:39am Feb 7, 2016 6:39am
Quoting emmanuel7788
EURAUD 5 Feb H1 trade setup. attached pdf is my "answer". we must have a daily routine tasks when we want to trade H1 intraday. start the day by looking at how the previous days traded. use a simple Triple Screen view or simply switch your chart TF and remember a few details. we tend to look at the pros and cons of the trade setups, and also the risks. but we often forget the opportunities which lies ahead. {image}
your answer is the 100 grade in the exam.

our answers had the same result in a different way therefore - we get 85 grade

thats fine by me.
  • #65,549
  • Feb 7, 2016 6:43am Feb 7, 2016 6:43am
Quoting MaxZen
{quote} Interesting. There are some significant areas of support in Aug and Sept 2015 that we are touching right now (your purple Big Picture Plan lines). I assume your first entry was on last bar/TDI cross - so you are 160+ pips to the positive already Would you propose adding to the trade when price passes your next two purple lines, or are you not concerned by them?

You can start your first entry when market opens tomorrow.

ADR(100) days is about 120pips.
so we can use 0.5ADR distance and place our ME trade entries.
max. 5 trades to build one Position.
use the ADR 120 pips to calculate the trade lot size for each of the ME trades.
AJ pip value is $8.3
And if you risk 0.2% of $5000,
you can calculate the trade lot size.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #65,550
  • Feb 7, 2016 7:01am Feb 7, 2016 7:01am
WRB and and pop gun? I apologize for my newness!
  • #65,551
  • Feb 7, 2016 7:22am Feb 7, 2016 7:22am
Here's a superb trading article about negative habits, awareness, and focus in trading which may benefit TMS traders. http://2ndskiesforex.com/trade-signa...on-in-trading/
  • #65,552
  • Feb 7, 2016 7:32am Feb 7, 2016 7:32am
Saw a few disturbing posts about traders not using stop losses with TMS. Big E preached placing these stops at the last swing. OR,,, you can trail your sl. Cool method to try and utilize which may save some accounts from going under http://2ndskiesforex.com/trade-signa...railing-stops/
  • #65,553
  • Feb 7, 2016 7:35am Feb 7, 2016 7:35am
Quoting emmanuel7788
{quote} your two screencast drawings for buy and sell illustration is dangerous and not correct for trend trading. the concept is to buy/sell in the direction of the dominant trend, build positions during the retracement, let profit run when the market is back into the dominant trend. most traders try to do the opposite trying to pick tops when they want to sell and pick bottom when they want to buy. we must never try to pick tops and bottoms in all market types. {image}
TMS is lucky to have your guidance Emmanuel.
  • #65,554
  • Feb 7, 2016 8:35am Feb 7, 2016 8:35am
Hi every1, i would like to know what do you think about this pair for the next week:

4H there is a bump on the TDI, trend is up BUT its close to 68, also the price make new high after the resistence.
1D the price touch support and moved up, TDI pointing on 2 o'clock and PA looks strong.
1W TDI is down but i think its only cuz the pair fix the rally trend and close the week with blue candle, also TDI has a cuve up. stoch's trend is down, but like i mentioned before, i think its cuz of the fix of the raly up.

i want to trade this pair in 1D chart, TP will be around 1.570.

Emm, your opinion also important to me.

thank's

(BTW - sorry if my english isnt correct)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCAD 1D.png Size: 40 KB
Click to Enlarge Name: EURCAD 4H.png Size: 43 KB
Click to Enlarge Name: EURCAD 1W.png Size: 39 KB
  • #65,555
  • Feb 7, 2016 9:41am Feb 7, 2016 9:41am
Quoting emmanuel7788
EURAUD 5 Feb H1 trade setup. attached pdf is my "answer". we must have a daily routine tasks when we want to trade H1 intraday. start the day by looking at how the previous days traded. use a simple Triple Screen view or simply switch your chart TF and remember a few details. we tend to look at the pros and cons of the trade setups, and also the risks. but we often forget the opportunities which lies ahead. {image}
I love the way you explained it Big Emm.
  • #65,556
  • Feb 7, 2016 9:57am Feb 7, 2016 9:57am
Quoting omri89
Hi every1, i would like to know what do you think about this pair for the next week: 4H there is a bump on the TDI, trend is up BUT its close to 68, also the price make new high after the resistence. 1D the price touch support and moved up, TDI pointing on 2 o'clock and PA looks strong. 1W TDI is down but i think its only cuz the pair fix the rally trend and close the week with blue candle, also TDI has a cuve up. stoch's trend is down, but like i mentioned before, i think its cuz of the fix of the raly up. i want to trade this pair in 1D chart,...
Looks good, but resistance level coming up on 1.5586 from March 2014. It may reject off this level or it may rocket through it. You have nice probabilities like price action momentum breaking the highs of the last few days and price staying above the 200ema on the daily chart. It also seems to be the next impulsive move up from a corrective move. Where will you put your stop and how will you protect your equity if price rejects off of the 1.5586 level (but again maybe it will not)?
  • #65,557
  • Feb 7, 2016 10:18am Feb 7, 2016 10:18am
Quoting Bardy
{quote} Looks good, but resistance level coming up on 1.5586 from March 2014. It may reject off this level or it may rocket through it. You have nice probabilities like price action momentum breaking the highs of the last few days and price staying above the 200ema on the daily chart. It also seems to be the next impulsive move up from a corrective move. Where will you put your stop and how will you protect your equity if price rejects off of the 1.5586 level (but again maybe it will not)?
the SL will be where the last Low of the trend 1.507 - its a big SL, possible more tight one it depent how extreme you wanna make it.
2nd possiblity, wait for an entrance in low timeframe so the SL will be smaller and take it up, and close part of the order after 50 pips - SL moves to BE.
  • #65,558
  • Feb 7, 2016 11:19am Feb 7, 2016 11:19am
Your second option sounds much more efficient than your first. Good luck and may God shower you with many pips in this trade.
  • #65,559
  • Feb 7, 2016 3:02pm Feb 7, 2016 3:02pm
Quoting emmanuel7788
EURAUD 5 Feb H1 trade setup. attached pdf is my "answer". we must have a daily routine tasks when we want to trade H1 intraday. start the day by looking at how the previous days traded. use a simple Triple Screen view or simply switch your chart TF and remember a few details. we tend to look at the pros and cons of the trade setups, and also the risks. but we often forget the opportunities which lies ahead. {image}

Thanks... Looks perfect!
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 16 KB
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #65,560
  • Feb 7, 2016 5:19pm Feb 7, 2016 5:19pm
...keep it goin'
Attached Image
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
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