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  • #12,681
  • Mar 17, 2016 11:21am Mar 17, 2016 11:21am
Watching EU for weakness.PA close to 78R and dble top almost

As far as my fundemetal outlook is concern.USD still rules! and sell the rallies applies to me.
US economy still performing better then any major economy out there so delaying hike does not negate strength of USD
I am almost sure Draghi will start the verbal innervation considering ECB desperately wants lower Euro in global currency war.
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In trading, you have to be defensive and aggressive at the same time
  • #12,682
  • Mar 17, 2016 12:58pm Mar 17, 2016 12:58pm
Davit you are right on the USDX. It's almost landed in strong demand zone as seen here on the equally-weighed USDX D1 chart (EU/GU/AU/UCAD).
I'd expect strong reaction if not transpiring friday then monday for sure. meanwhile still some more room on the upside on both NU/AU seems like brent is pushing them higher (still).
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  • #12,683
  • Mar 17, 2016 4:25pm Mar 17, 2016 4:25pm
Quoting likica
EA DIV off Pivots {image}


hmm, i had actually noticed this one too. I was thinking about trading it, and thought to myself .. what would likica do ...and i drew in these trendlines

I'm not sure if they are all that correct though as yours seem to be differant, in the end i didn't take the trade as i had lost my last few and was low on confidence. and like sods saw ....the trade i don't take decides to work out..........
the purple moving average was my 10 ema,
yellow line is the 5 ema [i dont really use that much anymore]
there is also a yellow pac there too.
green moving average = 200 ema
brown moving average = 50 ema


on your trendline, if price had closed below it would you have exited the trade...? or would you wait for something else?
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  • #12,684
  • Mar 17, 2016 4:39pm Mar 17, 2016 4:39pm
Quoting griffinssoul
{quote} .... it was the D1 .... it had the 'Lastingwell Kink' and it was a DB play for BE .... then broke out for the fifth wave [side note - using EWT & fib's is critical 2 my trading - when a trader says they dont work wat they mean is they dont work for them only ] {image}

my elliot wave knowledge is probably not that great as i can't trade it alone and be profitable, i can recognise most 5 wave structures, and sometimes the A,B,C's off them, can sometimes recognise complex 5 wave structures

with all the y/x/z ...etc and more complex corrections im not so great,
there have been times too where i labeled a structure .. 1,2,3,4,5 ...and it turned out to be an "A"


do i have to properly know elliot wave theory to take counter trend trades???
tbh, im struggling to find good learning material for it ...., i bought a book but it didn't help my understanding much


my gartley/harmonic pattern knowledge is probably above average though, but not elliot wave
  • #12,685
  • Mar 17, 2016 5:58pm Mar 17, 2016 5:58pm
Quoting Davit
{quote} This would be the last time I post live trade.My apologies for confusion. Regards {image}
Sorry, I didn¡'t mean to bother you, just wanted to make sure if I got it right. Please do keep posting live trades or at least don¡t stop because of me

Damn, this Aussie's gon a long way, and still doesn't show a sign of weakness

cheers
Be water, my friend
  • #12,686
  • Edited 9:06pm Mar 17, 2016 8:37pm | Edited 9:06pm
Quoting kain775
{quote} hmm, i had actually noticed this one too. I was thinking about trading it, and thought to myself .. what would likica do ...and i drew in these trendlines I'm not sure if they are all that correct though as yours seem to be differant, in the end i didn't take the trade as i had lost my last few and was low on confidence. and like sods saw ....the trade i don't take decides to work out.......... the purple moving average was my 10 ema, yellow line is the 5 ema [i dont really use that much anymore] there is also a yellow pac there too. green...
It's good that you watched and noticed PA. It will get better...and until you get rid of many things on your chart(either use one of these: 10EMA or 5EMA or PAC). I gave up reading your chart and others' whoever put too many indies. I don't mind you write or you draw. Keep training your eyes on PA and practise your drawing
Here is my trade ( I did not babysitting it this time) but the market cooked it wel as expected. I exited with my 10ema rule in a lot of cases, but since 200ema 50ema and trend line around, I would wait...of course it could turn other way but it needs fundie to move ( I checked news schedule before I went to bed)
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Appreciation is the key to wealth and happiness
  • #12,687
  • Mar 17, 2016 10:54pm Mar 17, 2016 10:54pm
Quoting Davit
{quote} Upon reviewing my entries you are correct that candle did not clear 10EMA however positions were taken in "safe" zone on TDI and rejected 61R pivot and PA bearish at the time I took the trade.In fact had I closed at 7605 would of netted over 100pips in 4 positions but kept them open for further drop should that occur. I did delete my chart.Don't like to confuse anyone. My TDI settings are little faster and I mentioned this many times here. This would be the last time I post live trade.My apologies for confusion. Regards {image}
i took this trade too and got stopped out.

would like to ask if 10ema is preferred over 5ema for traders here? I have both on my charts but i follow the 5ema currently. thus my entries are often more aggressive.
  • #12,688
  • Mar 17, 2016 11:02pm Mar 17, 2016 11:02pm
Quoting firsttimer
{quote} i took this trade too and got stopped out. would like to ask if 10ema is preferred over 5ema for traders here? I have both on my charts but i follow the 5ema currently. thus my entries are often more aggressive.
If you throw the pivot on it you'll see that 78R where spike occurred and I kind of anticipated.
I have all my positions still open.I don't use hard stops.
I use 10 and 200EMA and lately experimenting on 15min chart using TDI+10EMA as trigger.Its not TMS30 so not going to discuss that here.
Follow LK rules and template and you'll be fine.
Asia secession is not accurate measure where PA will lead on LO and NY.Lots of fakies occur on Asia so be mindful of that
regards
In trading, you have to be defensive and aggressive at the same time
  • #12,689
  • Mar 17, 2016 11:52pm Mar 17, 2016 11:52pm
Quoting Davit
Watching EU for weakness.PA close to 78R and dble top almost As far as my fundemetal outlook is concern.USD still rules! and sell the rallies applies to me. US economy still performing better then any major economy out there so delaying hike does not negate strength of USD I am almost sure Draghi will start the verbal innervation considering ECB desperately wants lower Euro in global currency war. {image}
This is why I keep coming back here. In a completely separate analysis, I think the top is in. At least for this month.
If you are good at something, never do it for free--Joker
  • #12,690
  • Edited Mar 18, 2016 8:11am Mar 17, 2016 11:59pm | Edited Mar 18, 2016 8:11am
Quoting jmn5611
{quote} This is why I keep coming back here. In a completely separate analysis, I think the top is in. At least for this month.
Hi Jim
I got 3 positions on EU and once this get clear 50+pips I will let it ride far lower 1065 weekly pivot
May take until end of the month.
regards friend
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In trading, you have to be defensive and aggressive at the same time
  • #12,691
  • Mar 18, 2016 2:22am Mar 18, 2016 2:22am
Quoting kain775
{quote} my elliot wave knowledge is probably not that great as i can't trade it alone and be profitable, i can recognise most 5 wave structures, and sometimes the A,B,C's off them, can sometimes recognise complex 5 wave structures with all the y/x/z ...etc and more complex corrections im not so great, there have been times too where i labeled a structure .. 1,2,3,4,5 ...and it turned out to be an "A" do i have to properly know elliot wave theory to take counter trend trades??? tbh, im struggling to find good learning material for it ....,...
same kain775 - thats why i use the TDI+HA entries - i can just see the EW structure from experience - i dont draw anytings [look @ Lastingwell's picture up there ] - the pivots&fibs i can quickly measure using the MT4 tingy and the Davit Pivots indi
  • #12,692
  • Mar 18, 2016 4:36am Mar 18, 2016 4:36am
Quoting Davit
{quote} Hi Jim I got 4 positions on EU and once this get clear 50+pips I will let it ride far lower 1065 weekly pivot May take until end of the month. regards friend {image}
My analysis agrees. You might need to hold for at least that amount of time.
If you are good at something, never do it for free--Joker
  • #12,693
  • Mar 18, 2016 7:59am Mar 18, 2016 7:59am
My shorts on AN still running
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #12,694
  • Mar 18, 2016 8:25am Mar 18, 2016 8:25am
Quoting Davit
{quote} Hi Jim I got 3 positions on EU and once this get clear 50+pips I will let it ride far lower 1065 weekly pivot May take until end of the month. regards friend {image}
Hi Davit,
Thanks for your charts. They are very informative. I have a question, why you have 4 positions at same point? Did you added them on different times based on some price action? Or because you have different TP for them?
Also if it goes against you (I hope not - just asking for my knowledge ), what will be your plan? Would you rescue them? Few times I was burnt by sudden big move in the market as I cannot monitor the chart every time due to the job. So how you handle it if there is sudden big move against you? How you change the plan?

Also can you please share your template. Your charts colors are very nice. Also I am using your Pivot indicator. It is very good to draw S/R on chart. One more question, do you go lower time frame than 4 hours? As I understand you see Weekly chart and 4 hour chart. correct?

Regards,
786 trading.
  • #12,695
  • Mar 18, 2016 8:55am Mar 18, 2016 8:55am
Quoting 786 trading
{quote} Hi Davit, Thanks for your charts. They are very informative. I have a question, why you have 4 positions at same point? Did you added them on different times based on some price action? Or because you have different TP for them? Also if it goes against you (I hope not - just asking for my knowledge ), what will be your plan? Would you rescue them? Few times I was burnt by sudden big move in the market as I cannot monitor the chart every time due to the job. So how you handle it if there is sudden big move against you? How you change the...
Hi 786
my indicators are on my profile and files or clipboard here above thread.
I trade by position building which allows multiples entries on different price point within 20-50pips thus getting overall better price.If position becomes red I either get out or wait it out depending fundemetal aspect.I had GU red positions beginning of the month but I knew based on fundamentals FEds not hiking rates GU will bounce and it did and I end up in profit.So I don't believe in cutting losses automatically.Each case is unique.
I trade lower TF 30min but lately dropping that even to 15min.
regards
In trading, you have to be defensive and aggressive at the same time
  • #12,696
  • Mar 18, 2016 9:08am Mar 18, 2016 9:08am
Quoting Davit
{quote} Hi 786 my indicators are on my profile and files or clipboard here above thread. I trade by position building which allows multiples entries on different price point within 20-50pips thus getting overall better price.If position becomes red I either get out or wait it out depending fundemetal aspect.I had GU red positions beginning of the month but I knew based on fundamentals FEds not hiking rates GU will bounce and it did and I end up in profit.So I don't believe in cutting losses automatically.Each case is unique. I trade lower TF 30min...
Thanks for your reply.
And how you deal with sudden big move against your trade?
  • #12,697
  • Mar 18, 2016 9:17am Mar 18, 2016 9:17am
Quoting 786 trading
{quote} Thanks for your reply. And how you deal with sudden big move against your trade?
I try hard to be on right side but did experience before.I cut my losses.That's the power of mico lots and multi entries.One is never 100% in so getting out usually does not cost a lot.
I can't possibly cover everything I do but sufficient to say you are on TMS30 thread so follow LK method and template and you'll do fine.

Since you are Canadian and oil price is jumping you should of bought Canadian dollar way earlier and held.
In trading, you have to be defensive and aggressive at the same time
  • #12,698
  • Mar 19, 2016 3:58am Mar 19, 2016 3:58am
Quoting likica
{quote} It's good that you watched and noticed PA. It will get better...and until you get rid of many things on your chart(either use one of these: 10EMA or 5EMA or PAC). I gave up reading your chart and others' whoever put too many indies. I don't mind you write or you draw. Keep training your eyes on PA and practise your drawing Here is my trade ( I did not babysitting it this time) but the market cooked it wel as expected. I exited with my 10ema rule in a lot of cases, but since 200ema 50ema and trend line around, I would wait...of...
Hi Likica,

Sometimes there is a big difference in levels on your chart and mine. Look at DOL (25 pips difference) at 17 march. I know it's because of broker time... so every different broker has other levels of DOL and pivot etc. Is this a big problem? My broker time is GMT+1. Which time is the best broker time?
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  • #12,699
  • Mar 19, 2016 7:35am Mar 19, 2016 7:35am
Quoting Pipsalon
{quote} Hi Likica, Sometimes there is a big difference in levels on your chart and mine. Look at DOL (25 pips difference) at 17 march. I know it's because of broker time... so every different broker has other levels of DOL and pivot etc. Is this a big problem? My broker time is GMT+1. Which time is the best broker time? {image}
No, I don't think of it as a problem. I have accts with various brokers from different locations, so my DOL each acct shows different too, do not trade against it at its first touch of the day (strong S/R) as most of the time it will bounce back.
Appreciation is the key to wealth and happiness
  • #12,700
  • Mar 19, 2016 7:53am Mar 19, 2016 7:53am
Quoting Pipsalon
{quote} Hi Likica, Sometimes there is a big difference in levels on your chart and mine. Look at DOL (25 pips difference) at 17 march. I know it's because of broker time... so every different broker has other levels of DOL and pivot etc. Is this a big problem? My broker time is GMT+1. Which time is the best broker time? {image}
popular choice is end of US session i tinks - guarantees u will be in Asian range anyways .... just set the DOL indi 2 wat u want ....
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