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TMS for M30 charts

  • #13,301
  • Apr 14, 2016 8:55am Apr 14, 2016 8:55am
Quoting likica
{quote} Anddres, You need to use the followings setting for TDI on Ninja Trader or any trading software which support SMA and RSI: the green line is a SMA(2) of a RSI(13,close). Then the red line is a SMA(7) of the green line. 1. Create RSI in a new window. Set the parameters to 13 and close, and the color to None, so that it doesn't show. 2. Drag the MA indy into the same window as the RSI. Set the values to 2, simple, close, color = Green, and most importantly, Apply to = Previous Indicator's Data 3. Drag the MA indy into the same window as the...

cool man, thx i got it
  • #13,302
  • Apr 14, 2016 9:46am Apr 14, 2016 9:46am
Quoting Davit
{quote} Thanks LK and you too. Euro seating on S100 nice spot to go long but PA not sure.I know you mentioned few times going long on Euro this is the best spot since 1.14 Could go lower it looks like market is hesitant. {image}
Hi Davit,

I want to learn from this chart and you were saying about PA.. can elaborate more what to look for in PA?
Thanks.
  • #13,303
  • Apr 14, 2016 10:05am Apr 14, 2016 10:05am
Quoting forex-newbie
{quote} Hi Davit, I want to learn from this chart and you were saying about PA.. can elaborate more what to look for in PA? Thanks.
I like Nial Fuller a lot.Here is a video by him explaining PA
Inserted Video
In trading, you have to be defensive and aggressive at the same time
  • #13,304
  • Apr 14, 2016 10:07am Apr 14, 2016 10:07am
Another one does nice explanation of candle formations.
Inserted Video

I like at 17min when he keeps saying "Who is in control of price" (bears or Bulls)

"you should write that on the wall" love it
In trading, you have to be defensive and aggressive at the same time
  • #13,305
  • Apr 14, 2016 10:29am Apr 14, 2016 10:29am
Quoting forex-newbie
{quote} Hi Davit, I want to learn from this chart and you were saying about PA.. can elaborate more what to look for in PA? Thanks.
So to sum it up there is no clear Bull signal nor Bear.Price is ranging.ATM bears in control but does not appear total control.
So my decision is NO trade.
I look for tails of candles which gave lots of info and body of the candles where they closed.You should google and study Japanese candle patterns.
This is trading 101.You should be proficient and be able identify formations by simple glance.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 38 KB
In trading, you have to be defensive and aggressive at the same time
  • #13,306
  • Apr 14, 2016 10:29am Apr 14, 2016 10:29am
Quoting Davit
Another one does nice explanation of candle formations. https://www.youtube.com/watch?v=IdwZxhsh5y0 I like at 17min when he keeps saying "Who is in control of price" (bears or Bulls) "you should write that on the wall" love it
Thanks Davit for your continuous help.

Quoting Davit
{quote} So to sum it up there is no clear Bull signal nor Bear.Price is ranging.ATM bears in control but does not appear total control. So my decision is NO trade. I look for tails of candles which gave lots of info and body of the candles where they closed.You should google and study Japanese candle patterns. This is trading 101.You should be proficient and be able identify formations by simple glance. {image}
Sure, I am still learning from babypips and will master Japanese candle patterns before trading seriously.
  • #13,307
  • Apr 14, 2016 10:39am Apr 14, 2016 10:39am
Quoting likica
{quote} good trading Toksy. I am viewing your trade from my chart so other can see why it was a good one (TDI formed double bottoms, price diverted then created higher low and broke out of choppy zone, closed above support level). If you can, pls do the same every time you post your trade so others can learn easily and might help you when making decisions for future trades. {image}


Thanks you likica i appreciate ,still learning to see clearly so that the greens can increase.i appreciate
  • #13,308
  • Apr 14, 2016 10:42am Apr 14, 2016 10:42am
Quoting forex-newbie
{quote} Thanks Davit for your continuous help. {quote} Sure, I am still learning from babypips and will master Japanese candle patterns before trading seriously.
I used to be like you kind of overwhelmed by so much info but after 5yrs I look at the chart and basically know if there is trade there or not.
Much of good trading is elimination of bad trades.Sort of looking through dirt to find the gold nuggets.
Keep the elimination process going because that's the traders true skill.Don't depend on indicators alone.
regards
In trading, you have to be defensive and aggressive at the same time
  • #13,309
  • Apr 14, 2016 10:47am Apr 14, 2016 10:47am
Quoting Davit
{quote} I used to be like you kind of overwhelmed by so much info but after 5yrs I look at the chart and basically know if there is trade there or not. Much of good trading is elimination of bad trades.Sort of looking through dirt to find the gold nuggets. Keep the elimination process going because that's the traders true skill.Don't depend on indicators alone. regards
what type of candles do you think are best for newbies.
pure Japanese or HA candles?
Fib(onacci) my way to glory
  • #13,310
  • Apr 14, 2016 10:51am Apr 14, 2016 10:51am
EU did not work out for me. Got out with a loss of 24 pips, it might push up again.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 58 KB
  • #13,311
  • Apr 14, 2016 10:52am Apr 14, 2016 10:52am
Quoting billsmith
{quote} what type of candles do you think are best for newbies. pure Japanese or HA candles?
I use Japanese candles and recommend it. I also use my own grab candles and I use this once the trade is executed.It helps me staying in trade longer.Some use APB candles but not ideal for Price action reading
In trading, you have to be defensive and aggressive at the same time
  • #13,312
  • Edited 11:21am Apr 14, 2016 10:56am | Edited 11:21am
Quoting Mudosh
EU did not work out for me. Got out with a loss of 24 pips, it might push up again. {image}
Price is ranging.I would of stayed.Looking at the spot you took the trade TDI was horizontal suggesting bulls getting weak.You want good angle up
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 39 KB
In trading, you have to be defensive and aggressive at the same time
  • #13,313
  • Apr 14, 2016 11:32am Apr 14, 2016 11:32am
Quoting Davit
Another one does nice explanation of candle formations. https://www.youtube.com/watch?v=IdwZxhsh5y0 I like at 17min when he keeps saying "Who is in control of price" (bears or Bulls) "you should write that on the wall" love it
This is gold! I would advise all newbie to view this before picking up indicators n trading strategies. Reading candles gives you instant indication on who's in control. Thanks Davit for pointing me to the right direction
  • #13,314
  • Apr 14, 2016 11:47am Apr 14, 2016 11:47am
Quoting Mudosh
EU did not work out for me. Got out with a loss of 24 pips, it might push up again. {image}
Mudosh,
It would be better to have a clearer PA to trade. It is not only about whether you use APB or candlesticks but the whole picture by looking to the left to see what price reacted recently, what higher time frame (H4 H1) are doing if you can't see it from M30. Don't just take one candle spiked up and thought that a swing high or low.
If you are good at reading PA from candlesticks, go for it. Do what works for you.
Here what EU looks like right now, where you would not want to go against D1 look so red but H4 is sitting at support 200ma. It needs fundie to move against D1
Attached Image (click to enlarge)
Click to Enlarge Name: 14.4.16 EU M30 H4 d1.png Size: 130 KB
Appreciation is the key to wealth and happiness
  • #13,315
  • Apr 14, 2016 11:56am Apr 14, 2016 11:56am
Take a look at AU to decide if you want to jump in a short right now or wait.
No set up for me even though it bounced off resistant with a long pin bar
Attached Image (click to enlarge)
Click to Enlarge Name: 14.4.16 AU M30 H4 D1.png Size: 140 KB
Appreciation is the key to wealth and happiness
  • #13,316
  • Apr 14, 2016 11:57am Apr 14, 2016 11:57am
Quoting likica
{quote} Mudosh, It would be better to have a clearer PA to trade. It is not only about whether you use APB or candlesticks but the whole picture by looking to the left to see what price reacted recently, what higher time frame (H4 H1) are doing if you can't see it from M30. Don't just take one candle spiked up and thought that a swing high or low. If you are good at reading PA from candlesticks, go for it. Do what works for you. Here what EU looks like right now, where you would not want to go against D1 look so red but H4 is sitting at support...
totally agree
In trading, you have to be defensive and aggressive at the same time
  • #13,317
  • Apr 14, 2016 12:02pm Apr 14, 2016 12:02pm
Quoting forex-newbie
{quote} This is gold! I would advise all newbie to view this before picking up indicators n trading strategies. Reading candles gives you instant indication on who's in control. Thanks Davit for pointing me to the right direction
Watch the rest of the series as well on support and resistance
Note when he says transitional phase most important that's where I focus on pivots swing highs lows and in between.Its a great tool for reversal spotting reversal areas.
Traditional zones
key
In trading, you have to be defensive and aggressive at the same time
  • #13,318
  • Apr 14, 2016 12:48pm Apr 14, 2016 12:48pm
I am done today
little range trading on GU+42pips
Overall very profitable day with NU and GU 367 pip gain
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 29 KB
In trading, you have to be defensive and aggressive at the same time
  • #13,319
  • Edited 1:10pm Apr 14, 2016 12:53pm | Edited 1:10pm
Quoting Davit
I am done today little range trading on GU+42pips Overall very profitable day with NU and GU 367 pip gain {image}
i think i may be missing something here but why did you buy when TDI was a sell signal (not a good sell signal i know)???
forgive me if it is something glaringly obvious...
looking at the chart again i presume it is to do with the pivot line???
Fib(onacci) my way to glory
  • #13,320
  • Apr 14, 2016 1:21pm Apr 14, 2016 1:21pm
Quoting billsmith
{quote} i think i may be missing something here but why did you buy when TDI was a sell signal (not a good sell signal i know)??? forgive me if it is something glaringly obvious... looking at the chart again i presume it is to do with the pivot line???
I was buying in hopes of going long away from major pivot but bulls are weak so got out.End up becoming range.
it can still break out on bull side but need better PA
In trading, you have to be defensive and aggressive at the same time
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