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TMS for M30 charts

  • #12,921
  • Mar 29, 2016 10:33am Mar 29, 2016 10:33am
Quoting Kanderpro
{quote} Hello Mudosh, I wasn't in that trade because I didn't get a trendline break where you did. This is the murky area of drawing trendlines. I have much more faith in trend lines drawn from a distinctive low (or high) at or near the beginning of the trend (as in my screen shot) than I do from some point after the trend has started. I also want my trend line to line up exactly with three lows in an up trend. K {image} Edit: I note Lastingwell's post. I'll qualify my text above by saying that I would need a trendline break before I would even...
Taken note Kanderpro, if I may ask do you have any particular reason why you choose three points and not two when drawing trend lines?
  • #12,922
  • Mar 29, 2016 10:40am Mar 29, 2016 10:40am
Quoting pips29
{quote} the divergence happened here and as LW said price was clearly bullish {image}
Pips29, noted. Thanks.
  • #12,923
  • Mar 29, 2016 10:44am Mar 29, 2016 10:44am
Quoting Mudosh
{quote} Thanks Lastingwell for that info. You also gave some valuable information on post #12798, I'll need to practice more.
Thats all it takes - practice practice and then some more
  • #12,924
  • Mar 29, 2016 10:48am Mar 29, 2016 10:48am
Mudosh, you must draw the lines correctly on price chart and the TDI when trading divergence. Otherwise it could be interpreted wrongly. My 2 cents advice
the cautious seldom err....C
  • #12,925
  • Mar 29, 2016 11:03am Mar 29, 2016 11:03am
Quoting pips29
Mudosh, you must draw the lines correctly on price chart and the TDI when trading divergence. Otherwise it could be interpreted wrongly. My 2 cents advice
I've seen where I went wrong on the GN chart, I was to get the equivalent top on the TDI. Thanks for your advice.
  • #12,926
  • Mar 29, 2016 11:48am Mar 29, 2016 11:48am
Quoting Mudosh
{quote} Taken note Kanderpro, if I may ask do you have any particular reason why you choose three points and not two when drawing trend lines?
Hi Mudosh,
I followed Phx62 on the TMS thread for years but could never replicate his excellent trades. When I came over to this thread I noticed that the 30m chart gave me enough bars to draw a trendline and that, way more often than not, good moves were preceded by a trendline break. I don't lose any sleep wondering about the mysteries of Fibonacci on trading charts and, for me, trendlines drawn EXACTLY on 3 lows in an up trend, or 3 highs in a down trend, are just the same. I have no idea why they line up exactly, but they do. The majority of my trades are taken when at least these 3 rules are met: trendline break, rejection from s/r, and close outside the PAC.
I hope this gives you some food for thought.
K
Thanks for your help, warmth and straight talking Heather.
  • #12,927
  • Mar 29, 2016 11:49am Mar 29, 2016 11:49am
Dear Mudosh,

Thank you very much to post not only the winners but also the loosers.

I don't know for other but the feed back given by the kindly experimented trader here teaches me even more than a winner.

Cheers!

Quoting Mudosh
{quote} When spotting price choppy around DOL trying to push down a bit while TDI moved down a lot, be careful as hidden divergence could form for continuation of current trend. Look at how price only moved within the channel on my chart, trying to step down but could not make it (next candle never made new low or follow thru). Once you realized it and cut your stop small, it would not be a big issue. {image}
Thanks Likica for the illustration very informative and easy to understand. Managed to get 50 pips from GN, Hidden divergence, off 800 MA/weekly S/R. I had to exit coz of the Consumer Confidence news. {image}[/quote]
  • #12,928
  • Mar 29, 2016 1:44pm Mar 29, 2016 1:44pm
Quoting lastingwell
{quote}....and you live in the UK, did you sleep through the whole of yesterday?

no lol, i must of just been in my own little bubble and oblivious the clocks had changed
  • #12,929
  • Mar 30, 2016 12:48am Mar 30, 2016 12:48am
Price makes 2 LH after hidden divergence and entry after price breaks MA 50 and retrace, DOL is difference than other but this is not problem, in other broker ( Cypus broker) price away from DOL
Attached Image (click to enlarge)
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  • #12,930
  • Mar 30, 2016 12:52am Mar 30, 2016 12:52am
GJ m30 taken during Tokyo/Sing Open today
Attached Image (click to enlarge)
Click to Enlarge Name: 30.3.16 gj m30 bDIV BEOB short@TOK, exited@4.44p a +55.png Size: 107 KB
Appreciation is the key to wealth and happiness
  • #12,931
  • Mar 30, 2016 12:54am Mar 30, 2016 12:54am
Quoting longbk
Price makes 2 LH after hidden divergence and entry after price breaks MA 50 and retrace, DOL is difference than other but this is not problem, in other broker ( Cypus broker) price away from DOL {image}
good trading
Appreciation is the key to wealth and happiness
  • #12,932
  • Mar 30, 2016 1:03am Mar 30, 2016 1:03am
I so wish I was a full time trader hate the early morning cold weathers and making my boss rich while I earn pennies
  • #12,933
  • Mar 30, 2016 1:14am Mar 30, 2016 1:14am
Quoting trade786
I so wish I was a full time trader hate the early morning cold weathers and making my boss rich while I earn pennies
You should thank your boss for your current income while you are learning to trade. Hate is not a good energy since you have to turn up there everyday. Think about trading like going to uni/college (3-4yrs), then you need experience (practice trading)... before getting a good pay...no short cut.
Appreciation is the key to wealth and happiness
  • #12,934
  • Mar 30, 2016 1:14am Mar 30, 2016 1:14am
Quoting griffinssoul
GN H4 .... just keep'n OS's seat warm - not that i would ever compare my skill wit his {image}
GN H4 - got the 2nd ticket - 1 left .... EU/GCad hit BE .... must eat more chocolate
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  • #12,935
  • Mar 30, 2016 1:19am Mar 30, 2016 1:19am
believe me when I say I don't want to thank him I got made redundant from my last job and he begged me to come back to work for him which I did not want to but I offered to help but now he has his way all the time and gives me so much pressure but I can't leave because of my kids if I leave I don't have any other option but I get treated very unfairly
  • #12,936
  • Mar 30, 2016 1:34am Mar 30, 2016 1:34am
Quoting griffinssoul
{quote} GN H4 - got the 2nd ticket - 1 left .... EU/GCad hit BE .... must eat more chocolate {image}
nice bag GS. GN & GA @support
what is it to do with chocolate?
Attached Image (click to enlarge)
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Appreciation is the key to wealth and happiness
  • #12,937
  • Mar 30, 2016 1:36am Mar 30, 2016 1:36am
Quoting likica
{quote} You should thank your boss for your current income while you are learning to trade. Hate is not a good energy since you have to turn up there everyday. Think about trading like going to uni/college (3-4yrs), then you need experience (practice trading)... before getting a good pay...no short cut.
  • #12,938
  • Mar 30, 2016 1:40am Mar 30, 2016 1:40am
Quoting likica
{quote} nice bag GS. GN & GA @support what is it to do with chocolate? {image}
.....every time u get a green pip u must eat a green M&M
  • #12,939
  • Mar 30, 2016 2:45am Mar 30, 2016 2:45am
Quoting griffinssoul
{quote} .....every time u get a green pip u must eat a green M&M
.... u know wat they say abouts the green ones ..... GN H4 all out !
Attached Image (click to enlarge)
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  • #12,940
  • Mar 30, 2016 2:50am Mar 30, 2016 2:50am
UCad H4 - 2 good to pass up but just the 1 ticket 4 quick scalp .... strong W1 supp&res - bounce off BRN
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