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  • #66,541
  • Mar 5, 2016 3:06pm Mar 5, 2016 3:06pm
Quoting bill992
Hello all, Has anyone else seen the Double bottom on W1, EURJPY ? The formation formed at a Monthly S&R ( the purple lines are Monthly S/R). My bias for next week would to Buy this pair with s first target at 126.990. What do you think? Any opinion is appreciated! Thank you, Bill {image}
Nice two hammers in a row at S.
  • #66,542
  • Mar 5, 2016 6:39pm Mar 5, 2016 6:39pm
Quoting bill992
Hello all, Has anyone else seen the Double bottom on W1, EURJPY ? The formation formed at a Monthly S&R ( the purple lines are Monthly S/R). My bias for next week would to Buy this pair with s first target at 126.990. What do you think? Any opinion is appreciated! Thank you, Bill {image}
Hi Bill

Very interesting analyze, my opinion - let share our ideas they might not be the same solution but we're all will learn more
Monthly S&R - support and resistance are not single price line, they are a small price zone from Master emmanuel post http://www.forexfactory.com/showthre...38#post8786838
my opinion it might be down trend double flags if you look at weekly chart there was a support below the price.
To confirm reversal price should close above HL in daily chart & wait for pullback to enter(I think it's going to be our first entry for ME/ME) unless you want to have a quicky pips with two hammers
My analyze might be wrong but we're all learn together

Best regards,
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Untitled1.jpg Size: 399 KB
  • #66,543
  • Mar 5, 2016 6:48pm Mar 5, 2016 6:48pm
Quoting emmanuel7788
{quote} Hi, in that pdf example, the price action is clear and where swing high was and what the market volatility using ADR 100 days was explained in there. instead of me showing my trades trades and all the calculation details , etc. why not you start doing your big picture plan and post them and we can discuss which pairs to pick fro next week to trade with ME/ME. regards,
Thanks Emmanuel

Mousteven let do our BPP for next week for ME/ME trading. I will post my BPP on Tuesday coz I'm working weekend & monday too

Best regards,
  • #66,544
  • Mar 5, 2016 7:09pm Mar 5, 2016 7:09pm
Quoting pete.alfa
{quote} Hi Bill Very interesting analyze, my opinion - let share our ideas they might not be the same solution but we're all will learn more Monthly S&R - support and resistance are not single price line, they are a small price zone from Master emmanuel post http://www.forexfactory.com/showthre...38#post8786838 my opinion it might be down trend double flags if you look at weekly chart there was a support below the price. To confirm reversal price should close above HL in daily chart & wait for pullback to enter(I...

Thank you, Pete Alfa! Very interesting
I am also looking into GBPJPY, which i think will test the resistance seen with a red horizontal line on my chart and afterwards continue the downtrend.

However, all our plans might be affected by the BOJ Gov Kuroda Speach on Monday. I m curious how the JPY pairs will react.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY W1.JPG Size: 111 KB
focus, manage risk, rinse, repeat
  • #66,545
  • Mar 5, 2016 7:33pm Mar 5, 2016 7:33pm
Quoting dragonexpert
interesting strategy mate. subscribe it. I'll try to implement your strategy using Trade simulator this weekend. thanks
nobody know?
  • #66,546
  • Mar 5, 2016 7:50pm Mar 5, 2016 7:50pm
Quoting bill992
{quote} Thank you, Pete Alfa! Very interesting I am also looking into GBPJPY, which i think will test the resistance seen with a red horizontal line on my chart and afterwards continue the downtrend. However, all our plans might be affected by the BOJ Gov Kuroda Speach on Monday. I m curious how the JPY pairs will react. {image}

well, the boys in Tokyo knew when the 3 wise men - Abe, Aso and Kuroda , met over sushi lunch last week.
they still liking the strong Yen ... but all the other central banks already know about Abenomics policy and the effect of negative interste rates has on the markets.
the big boys borrow cheap Yen and to do something else.

we poor retails traders cannot see what the big boy are doing and will they will do next week.
we look at technical support and resistance, pivots, fibonacci ratios, harmonics patterns for PRZ, astro cycle 618, etc.
we talk a lot about trading but the actual trading is very different, talk is cheap.

but we all forgot about the 10 important things about technical trading and the 2 most important things about being traders.
these makes 12 things now...


got to go now, family and friends are waiting for Sunday lunch being served.

will be back in few hours/-
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,547
  • Mar 6, 2016 12:21am Mar 6, 2016 12:21am
Quoting catalin_eros
{quote} Hello, Emm! As you requested in one of my PMs, I will ask the question here and attach a chart. For MTF method, I am talking about HTF W1, intermediate D1 and entry on LTF H4, do you look for entries on H4 if the D1 candle is backing up the HTF, but the D1 TDI is not confirming the upward movement with a cross? To be more precise, let's assume that for the chart I post the bias for the W1 is up. As you can see on D1, the TDI has not crossed on the candle marked with green arrow, but that candle is a good indication for me to look for entries...

Hi,

To answer your question - how I tackle that,

I use PASR for the setup + price momentum seen using the TDI Price Line the Green line.

then how I trade it, the answer is to my post#66,400
http://www.forexfactory.com/showthre...65#post8787265

Use Multiple Entries / Multple Exits ME/ME.


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,548
  • Mar 6, 2016 12:39am Mar 6, 2016 12:39am
Quoting ensale
{quote} Are you building a position long on gbpusd, a day position trade. emma?

Hi,

yes, I did and it was on the Day chart set up using the swing low.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Week 09 5-bars swing low setup.png Size: 42 KB


this pair is bullish and we can catch it next week.

Swing High/ Swing Low Price Action: Post#57,779

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,549
  • Mar 6, 2016 1:24am Mar 6, 2016 1:24am
Quoting emmanuel7788
{quote} Hi, yes, I did and it was on the Day chart set up using the swing low. {image} this pair is bullish and we can catch it next week. Swing High/ Swing Low Price Action: Post#57,779 regards,
Hi Em,
Is this correct?
Regards Rob
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-03-06 at 6.22.11 pm.png Size: 39 KB
Your trade order needs to be in the right place at the right time.
  • #66,550
  • Mar 6, 2016 2:43am Mar 6, 2016 2:43am
Quoting Islandfx911
{quote} Hi Em, Is this correct? Regards Rob {image}

Hi,

Got your PM and will reply soon.

regarding GU, this is what I mean by BUILD and RUN phase.

Attached Image (click to enlarge)
Click to Enlarge Name: Islandfx911 GBPUSD post.png Size: 154 KB



the weekly range 52 week is about 305pips, this would be the 4H swing range for next week.
the ADR 100 days is about 123 pips, so if we use 0.5ADR, approximately we place ME trades at distance of 60pips.
you have to determine what your lot size according to your account and how much you want to risk for maximum 5 ME trades to build a full position.

or if you want to enter one single position at full risk, you can either use the last swing low for your initial SL or the 2-Days look back low, then do your position sizing. Trainling will be 2-days look back manage day-to-day.

have a good trading week ahead
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,551
  • Mar 6, 2016 2:55am Mar 6, 2016 2:55am
Quoting Scrambleguy
{quote} Hi Scorps can I ask you whether you only trade the H1? also do you look at higher Tf for the trend and then take entry on H1? Regards
I think mostly my trades are H1, entries can vary between other time frames, I mean most of the times , entry is refined from m5, m15, m30 upto h1 , when I wait a setup, I would want to see lower time frame confirmation too , and early entry can be taken there, all u have to do is take lots of caution before taking an entry

Then I use H4, Daily for trend direction , PA below ema 10 short and long above ema 10 on those HTFs
I Have Learned to Take Some Losses to Make Profits
  • #66,552
  • Mar 6, 2016 2:58am Mar 6, 2016 2:58am
Quoting emmanuel7788
{quote} Hi, Got your PM and will reply soon. regarding GU, this is what I mean by BUILD and RUN phase. {image} the weekly range 52 week is about 305pips, this would be the 4H swing range for next week. the ADR 100 days is about 123 pips, so if we use 0.5ADR, approximately we place ME trades at distance of 60pips. you have to determine what your lot size according to your account and how much you want to risk for maximum 5 ME trades to build a full position. or if you want to enter one single position at full risk, you can either use the last swing...
Thanks
Your trade order needs to be in the right place at the right time.
  • #66,553
  • Mar 6, 2016 3:10am Mar 6, 2016 3:10am
Quoting TheScorpS
{quote} I think mostly my trades are H1, entries can vary between other time frames, I mean most of the times , entry is refined from m5, m15, m30 upto h1 , when I wait a setup, I would want to see lower time frame confirmation too , and early entry can be taken there, all u have to do is take lots of caution before taking an entry Then I use H4, Daily for trend direction , PA below ema 10 short and long above ema 10 on those HTFs


<<Then I use H4, Daily for trend direction , PA below ema 10 short and long above ema 10 on those HTFs>.

this is very good and exactly what I use in my Big Picture Planning. I look at the market with reference to the 10EMA on every chart timeframe starting top down from MN, W!, D1, then H4 and H1.
This has nothing to do with TMS the way Big E traded the H4. If you still do not know why, you should be reading his posts all over again.


The power of 10EMA Post#8,528 by FF member named tango-1
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,554
  • Edited 4:00am Mar 6, 2016 3:46am | Edited 4:00am
Quoting bill992
Hello all, Has anyone else seen the Double bottom on W1, EURJPY ? The formation formed at a Monthly S&R ( the purple lines are Monthly S/R). My bias for next week would to Buy this pair with s first target at 126.990. What do you think? Any opinion is appreciated! Thank you, Bill {image}

hi Bill,

We are in a correction of the MN down move.
On Day chart, the setup is good but it will counter trend against the Weekly and Monthly. Just look at the 10EMA on the W1 and MN and on the day these are teh 50EMA and 200EMA.
There are historical swing levels which i use to trade between those levels and keeping a close watch on the price action around those levels which has CONFLUENCE with the EMAs, and the BRN and RN.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Week 10 MN chart Big Picture.png Size: 45 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Week 10 D1 chart Big Picture.png Size: 67 KB


Have a good Trading week ahead.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #66,555
  • Mar 6, 2016 5:08am Mar 6, 2016 5:08am
Hi,

Couple of us were discussing some aspects of ME/ME. We came to the conclusion that we were uncertain about a vital aspect of this. I feel kind of embarassed to ask this as I have been studying this for quite long and this seems something important that should have been clear long ago. I will try to explain clearly:

It is regarding re-entering the lot when the basket moves back in our favor.

In this post I found that after we have built a couple of positions and it moves in our favor we re-enter at the same position size. So we carry over our basket through the trend. This was how I thought this was done and I never really questioned it anymore. But when discussing this with a couple of guys they were all opening a new basket every time we hit our re-entry target back in direction of our trade. I found a couple of older posts (Back when the concept of Technical SL with position sizing (R-multiples...) was used more) that talk about scaling in when the position moves in our favor so this actually ADDED lots when it goes in our favor I think. I think this is what you refer to as adding when all previous positions are protected?

I think that perhaps there is no clear-cut answer. Is there discretion involved here or do you use the same approach every time?

I would think that when we are in RUN phase for instance, we would prefer to carry over the position and kind of "leverage" our trade keeping the basket of 1% risk running. Or perhaps when we are approaching some levels where we expect some resistance that we could close some of the most profitable trades we have been carrying?

I hope Emmanuel can shed some additional light on this very important aspect. I searched a lot in the thread but I did not find any posts that removed all my doubts. But anyone else is more than welcome to share their view and provide feedback!

Best,
  • #66,556
  • Edited 5:52am Mar 6, 2016 5:26am | Edited 5:52am
Quoting emmanuel7788
{quote} Hi, To answer your question - how I tackle that, I use PASR for the setup + price momentum seen using the TDI Price Line the Green line. then how I trade it, the answer is to my post#66,400 http://www.forexfactory.com/showthre...65#post8787265 Use Multiple Entries / Multple Exits ME/ME. regards,
Hi, Emm!

Thanks for the answer! I'll keep that in mind, although I seem to get decent winners if, on the intermediate TF, I get a candlestick pattern and no TDI cross. I guess that's more aggressive, and that seems to characterize me as a trader. I am many times aggressive and I like SE/SE. I just felt the need to know how a way better trader than me does it. Once again, thanks a lot for all the help you've been providing to everyone so far!

Enjoy your weekend!
  • #66,557
  • Mar 6, 2016 5:28am Mar 6, 2016 5:28am
Quoting emmanuel7788
{quote} Hi, Got your PM and will reply soon. regarding GU, this is what I mean by BUILD and RUN phase. {image} the weekly range 52 week is about 305pips, this would be the 4H swing range for next week. the ADR 100 days is about 123 pips, so if we use 0.5ADR, approximately we place ME trades at distance of 60pips. you have to determine what your lot size according to your account and how much you want to risk for maximum 5 ME trades to build a full position. or if you want to enter one single position at full risk, you can either use the last swing...
Hi Emmanuel,

I like your illustration with regards to build and run phase. Thanks!

EJ: Daily, it seems going up further.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 29 KB
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #66,558
  • Mar 6, 2016 5:52am Mar 6, 2016 5:52am
Quoting pete.alfa
{quote} Hi Bill Very interesting analyze, my opinion - let share our ideas they might not be the same solution but we're all will learn more Monthly S&R - support and resistance are not single price line, they are a small price zone from Master emmanuel post http://www.forexfactory.com/showthre...38#post8786838 my opinion it might be down trend double flags if you look at weekly chart there was a support below the price. To confirm reversal price should close above HL in daily chart & wait for pullback to enter(I...
Hey, Pete!

You have a good point, and I might be wrong, but I can see a move to the upside of about 170 pips next week (WOL to high), and I aim to milk this pair for about 100 pips or less on H4. Those two hammers scream at me loudly. So if I get a setup in the desired direction on H4, I'll take it. If not, I'll let the pair go down without me.
  • #66,559
  • Mar 6, 2016 6:14am Mar 6, 2016 6:14am
Hi to all!
My second week with TMS. Did not trade thu and fri
Try to understand ME/ME, but its hard for me yet
Attached Image (click to enlarge)
Click to Enlarge Name: 03_01.jpg Size: 131 KB
  • #66,560
  • Mar 6, 2016 11:21am Mar 6, 2016 11:21am
Quoting emmanuel7788
{quote} well, the boys in Tokyo knew when the 3 wise men - Abe, Aso and Kuroda , met over sushi lunch last week. they still liking the strong Yen ... but all the other central banks already know about Abenomics policy and the effect of negative interste rates has on the markets. the big boys borrow cheap Yen and to do something else. we poor retails traders cannot see what the big boy are doing and will they will do next week. we look at technical support and resistance, pivots, fibonacci ratios, harmonics patterns for PRZ, astro cycle 618, etc....
whats the 10 important things weve forgot about technical trading?
Take What You Can , Give Nothing Back
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