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Another simple system - Time-Frame 15

  • #27,081
  • Mar 11, 2016 4:56am Mar 11, 2016 4:56am
Quoting pips29
just gone long {image}
profits taken and trade closed after a minor blunder...I had three charts open with different pairs and enter short g/u instead of e/a...got out immediately with a pip loss and closed the trade out of frustration...upon looking back it was a wise decision to close the trade ( I mean the entry long)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD m15 (03-11-2016 2056).png Size: 56 KB
the cautious seldom err....C
  • #27,082
  • Mar 11, 2016 7:07am Mar 11, 2016 7:07am
Quoting pips29
short e/a {image}
trade closed as I need to concentrate on g/u as I re-entered long .The chart below is on the 5 min
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD m5 (03-11-2016 2305).png Size: 52 KB
the cautious seldom err....C
  • #27,083
  • Mar 11, 2016 7:48am Mar 11, 2016 7:48am
re entered g/u when price bounce off the 34 ema on the 15 min....exits are done on the 5 min
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD m15 (03-11-2016 2345).png Size: 50 KB
Click to Enlarge Name: GBPUSD m5 (03-11-2016 2348).png Size: 57 KB
the cautious seldom err....C
  • #27,084
  • Mar 11, 2016 7:53am Mar 11, 2016 7:53am
my computer is playing up and so I will call it a day...it's been a good week..I wouldn't be able to do it on my own..god bless
the cautious seldom err....C
  • #27,085
  • Mar 11, 2016 10:17am Mar 11, 2016 10:17am
Quoting pips29
my computer is playing up and so I will call it a day...it's been a good week..I wouldn't be able to do it on my own..god bless
Pips29, Awesome that you keep this thread alive. I read all your posts
  • #27,086
  • Mar 11, 2016 8:53pm Mar 11, 2016 8:53pm
thanks pipsalon,you don't have to read all my posts ,maybe just read the more recent ones as I am trying to trade as closely to the method as possible...you know, Arjun trade for 15pips or so whereas I trade for much more using the 15 min. and he has small stops ...mine are much bigger..I can't trade the way he does and that's why my strategy is not "pure" as such...and being here alone sometimes makes me wonder whether I should stop posting like what the ninja did. There is only one way "conversation" and I am talking to myself every day..I just spent the last 20 mins or so looking at g/u and a/u and I happened to see your trade over at tms 30 min. and there were several things that were against you when you took the trade..I hope you have found out by now.
the cautious seldom err....C
  • #27,087
  • Mar 11, 2016 10:29pm Mar 11, 2016 10:29pm
the weekly chart of A/U and the daily below....how would you trade ? reply not reqd.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: AUDUSDDaily.png Size: 73 KB
the cautious seldom err....C
  • #27,088
  • Mar 11, 2016 10:38pm Mar 11, 2016 10:38pm
g/u weekly and daily
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 60 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 69 KB
the cautious seldom err....C
  • #27,089
  • Mar 11, 2016 10:41pm Mar 11, 2016 10:41pm
and yes I did have a winning entry on a long yesterday...for +80 on the 15 min. chart
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 52 KB
the cautious seldom err....C
  • #27,090
  • Mar 11, 2016 10:54pm Mar 11, 2016 10:54pm
and also one on the geppy taken the day before on the 4 hour and closed manually ahead of target for +160 pips and went to bed...I did mention this long in my post to Likica (TMS 30 min) on her thread yesterday..you can see it blew away my target just like that..There was a comedian who used to say "just like that" but I can't remember who
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 65 KB
the cautious seldom err....C
  • #27,091
  • Mar 11, 2016 11:10pm Mar 11, 2016 11:10pm
Quoting pips29
the daily of u/cad...my favourite fib. 78.6 looks like in play {image}
gone down below the fib...give it a day or two to see if downtrend continues which is looking the more likely
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 52 KB
the cautious seldom err....C
  • #27,092
  • Mar 12, 2016 2:07am Mar 12, 2016 2:07am
Quoting pips29
thanks pipsalon,you don't have to read all my posts ,maybe just read the more recent ones as I am trying to trade as closely to the method as possible...you know, Arjun trade for 15pips or so whereas I trade for much more using the 15 min. and he has small stops ...mine are much bigger..I can't trade the way he does and that's why my strategy is not "pure" as such...and being here alone sometimes makes me wonder whether I should stop posting like what the ninja did. There is only one way "conversation" and I am talking to myself every day..I just...
Thanks Pips29, When I reviewed my entry I thought: Why did I take this trade at this point? There was resistance above and PA was down.
I am still learning from my mistakes. I hope you keep posting I learn from your examples and I learn from the TMS M30 thread as well.
  • #27,093
  • Mar 12, 2016 2:23am Mar 12, 2016 2:23am
AU question: From looking at the Weekly and daily chart I would expect a retracement on AU. The last 2 weeks AU is in a uptrend there were a lot of big green apb's.
Price is at resistance from PPA at the moment. I have drawn a Fib retracement (I still want to learn more about drawing fibonacci and how to use it) My expectation is that price will retrace too 38.2 fib level. But I would not enter short right now. Maybe AU will go a little higher to 61.8 level and retrace from that point. First need PA to confirm a short entry...
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  • #27,094
  • Mar 12, 2016 2:41am Mar 12, 2016 2:41am
What do you think from GA weekly? Price is 200 pips from weekly 200 ema. My expectation is a bounce from that level...
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  • #27,095
  • Mar 12, 2016 3:13am Mar 12, 2016 3:13am
I have a question. How do you choose the point to draw the fibonacci retracement? Sometimes there are clear points. But which point do you choose at this chart from UC? UC started trending up from 2014. But there are a couple of swing low points you can choose I think...
Attached Image (click to enlarge)
Click to Enlarge Name: UC weekly.PNG Size: 70 KB
  • #27,096
  • Mar 12, 2016 3:37am Mar 12, 2016 3:37am
Quoting Pipsalon
I have a question. How do you choose the point to draw the fibonacci retracement? Sometimes there are clear points. But which point do you choose at this chart from UC? UC started trending up from 2014. But there are a couple of swing low points you can choose I think... {image}
Hi Pipsalon,

There are 2 scenarios, or you choose form the last structure low.. i mean the last HL.. to the top, or if u want from the bottom, the LLowest right to the top.

My 2 cents

Take care
  • #27,097
  • Mar 12, 2016 5:46am Mar 12, 2016 5:46am
UC is at 78.6 fibo level as pips29 mentioned. There is a weekly trendline as well. Maybe we will see some bulls coming in next week.
Attached Image (click to enlarge)
Click to Enlarge Name: UC weekly.PNG Size: 58 KB
  • #27,098
  • Mar 12, 2016 7:21am Mar 12, 2016 7:21am
Quoting Pipsalon
AU question: From looking at the Weekly and daily chart I would expect a retracement on AU. The last 2 weeks AU is in a uptrend there were a lot of big green apb's. Price is at resistance from PPA at the moment. I have drawn a Fib retracement (I still want to learn more about drawing fibonacci and how to use it) My expectation is that price will retrace too 38.2 fib level. But I would not enter short right now. Maybe AU will go a little higher to 61.8 level and retrace from that point. First need PA to confirm a short entry... {image}
Let me start by saying that a/u is bullish and there is no indication that the trend will reverse or retrace I am not using fibs but just pa by looking at the candles on the daily...you can see that the two red candles which I marked did not have price going lower than the candle before them.( the preceding candle ), so there was not a hint that the trend has changed...so why take the trouble trying to pick the top when you can jolly well ride the trend...I will only take note if the current candle closes below the low of the previous candle and that doesn't mean to go short...use a bit of discretion and use the indicators you have to help time your entry. Like I said before the dividing line with the TDI is the 50 level...above bull territory, below the bears to put it crudely...this will help you from taking the wrong entry for a start until you are good enough to able to pick tops and bottoms....you will find out as you progress....If I am not mistaken it has been pointed out on this thread that you should look for a long if TDI is above the MBL and the 50 level....this still holds true and I reckon everyone here knows what to do with their moving averages like when to buy/sell in accordance with trading this method...below is the daily chart of a/u...red candle 1 does not have price below the preceding blue candle low, the same goes for red candle 2..I am not good at explaining but I hope you get my meaning
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 66 KB
the cautious seldom err....C
  • #27,099
  • Mar 12, 2016 7:49am Mar 12, 2016 7:49am
Quoting Pipsalon
What do you think from GA weekly? Price is 200 pips from weekly 200 ema. My expectation is a bounce from that level... {image}
I am also bullish pound and there are certain levels to watch on the chart concerning G/a. I have 2 lines drawn across the chart and I will be watching these levels....like you say in your post that a bounce might happen at the 200 ema, so get prepared and draw a line where the 200 ema is and go down to the lower time frame to nail this thing but be mindful the unexpected can also happen, what I am trying to say is be nimble and flexible...just don't try defending a level and having to prove you are right..the market doesn't give a hoot ....the trend with this pair I must say is bearish on every time frame but like I say I am also bullish the "old lady"
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDWeekly.png Size: 60 KB
the cautious seldom err....C
  • #27,100
  • Mar 12, 2016 8:24am Mar 12, 2016 8:24am
Thnx for your explanation
I am bullish AU as well. But I would not enter longs yet because PA is heading for that PPA consolidation zone (blue zone on my chart).
It's possible that price will get choppy for a while. Let's watch the action on monday
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