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TMS for M30 charts

  • #14,361
  • Edited 7:52am Jun 17, 2016 7:39am | Edited 7:52am
Quoting koukou
hello Likica.. i would like to ask you ,which time frame support /resistance you use ?and if you use any indicator for them or draw them manually? i face troubles on this matter and kindly ask your help thnx in advance
I do a lot of trendline (drawing manually by zoom the m30 chart in and out). It works perfectly well to me.
Here is one example of UCAD M30 zoomed out from yesterday during U.S session. You should see what happened after that. I only bagged 50 from the bearish divergence on M15 (m30 did not form div) bouncing off that level. Of course there are many indies can assist you with S/R, but best is always look left to see how price reacted recently.
Attached Image (click to enlarge)
Click to Enlarge Name: 16.6.16 UCAD M30 S@SR.png Size: 75 KB
Appreciation is the key to wealth and happiness
  • #14,362
  • Jun 17, 2016 7:51am Jun 17, 2016 7:51am
could you pls check my attached lines?
Attached Image (click to enlarge)
Click to Enlarge Name: fxdu.png Size: 108 KB
  • #14,363
  • Jun 17, 2016 7:59am Jun 17, 2016 7:59am
Quoting koukou
could you pls check my attached lines? {image}
I m seeing price stepping up (trend has changed to bulls). I prefer the s/r level that have a thinner blue as I can see price might stop (look further left). If you put on TDI, it will help to see a clearer pic. I really like to trade the space between those 2 blue areas (look left to see how clear it is) if there s a set up.
You can draw lines from any 3 spots but important is you need to look at how price was doing around those.
Appreciation is the key to wealth and happiness
  • #14,364
  • Jun 17, 2016 8:05am Jun 17, 2016 8:05am
Quoting likica
{quote} I m seeing price stepping up (trend has changed to bulls). I prefer the s/r level that have a thinner blue as I can see price might stop (look further left). If you put on TDI, it will help to see a clearer pic. I really like to trade the space between those 2 blue areas (look left to see how clear it is) if there s a set up. You can draw lines from any 3 spots but important is you need to look at how price was doing around those.


thnx for your helpfull comments Likica
  • #14,365
  • Jun 17, 2016 9:18am Jun 17, 2016 9:18am
Quoting Arso
Dear Likica, I took this entry which which hit the SL. Did you take it or have you seen something not convincing? Thanks! {quote}
Hello Arso
Do you use Vigovski dash boards?
Best Regards.
Bülent.
  • #14,366
  • Jun 20, 2016 1:26am Jun 20, 2016 1:26am
Quoting likica
{quote} I do a lot of trendline (drawing manually by zoom the m30 chart in and out). It works perfectly well to me. Here is one example of UCAD M30 zoomed out from yesterday during U.S session. You should see what happened after that. I only bagged 50 from the bearish divergence on M15 (m30 did not form div) bouncing off that level. Of course there are many indies can assist you with S/R, but best is always look left to see how price reacted recently. {image}
Amazing as always , you have been a light into our trading and still learning from you to master those Divs, Hidden and Regular , well done
I Have Learned to Take Some Losses to Make Profits
  • #14,367
  • Jun 20, 2016 3:00am Jun 20, 2016 3:00am
Quoting TheScorpS
{quote} Amazing as always , you have been a light into our trading and still learning from you to master those Divs, Hidden and Regular , well done
Thanks for your kind words TSS. There are always things to learn every day and to share...
Happy pipping to you all.
Appreciation is the key to wealth and happiness
  • #14,368
  • Jun 20, 2016 3:08am Jun 20, 2016 3:08am
Hi likica,

How do you trade when the markets open with a gap? Like today big gaps on GBP and EUR pairs.
Do you expect the gaps will be filled later today?

Happy pipping
  • #14,369
  • Edited 4:08am Jun 20, 2016 3:40am | Edited 4:08am
Quoting Pipsalon
Hi likica, How do you trade when the markets open with a gap? Like today big gaps on GBP and EUR pairs. Do you expect the gaps will be filled later today? Happy pipping
Price usually close weekend gap on Monday. I tempted to trade toward gap if there s a set up. For today, I just started my day but didn't see anything yet. Could ve bagged 50 green from GU hidden but I was too worried about R100 and away from gap. might wait until NYO.
Appreciation is the key to wealth and happiness
  • #14,370
  • Jun 20, 2016 3:59am Jun 20, 2016 3:59am
Quoting likica
{quote} Price usually close weekend gap on Monday. I tempted to trade toward gap if there s a set up. For today, I just started my day but didn't see anything yet. Could ve bagged 50 green from GU hidden but I was too worried about R100. might wait until NYO.

im in a buy [counter trend] on the EJ right now h4

if i had known this perhaps i wouldn't have traded it, and im not liking the PA on h1 right now..
  • #14,371
  • Jun 20, 2016 4:11am Jun 20, 2016 4:11am
Quoting kain775
{quote} im in a buy [counter trend] on the EJ right now h4 if i had known this perhaps i wouldn't have traded it, and im not liking the PA on h1 right now..
I would not enter on H4 on Monday and Friday Kain
Appreciation is the key to wealth and happiness
  • #14,372
  • Jun 20, 2016 4:53am Jun 20, 2016 4:53am
Quoting likica
{quote} I would not enter on H4 on Monday and Friday Kain

decided to bail out early for a loss, i think it was the right decision, price action was looking against me on the h4 and h1

bearish engulfing h4 close below my suspected support/resistance level ..and the h1 had a tdi cross against me and an inside bar to boot!

I shall see how it goes about using h4 on monday and friday, i kept 2 trades open over the weekend for gbp pairs and they came through nicely. i think they were with trend trades, this was counter trade, perhaps i wont trade countertrend h4 on monday and friday...hmm......
  • #14,373
  • Jun 20, 2016 5:02am Jun 20, 2016 5:02am
likica what do you think about the possible setup on gpbusd m30

price has reached it's atr today, we are at resistance [scroll left on your own chart] we also have some divergance here.i am thinking if we get a couple more bearish candle which makes the tdi cross, is this a good trade?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd20thj.png Size: 27 KB
  • #14,374
  • Jun 20, 2016 5:09am Jun 20, 2016 5:09am
Quoting kain775
likica what do you think about the possible setup on gpbusd m30 price has reached it's atr today, we are at resistance [scroll left on your own chart] we also have some divergance here.i am thinking if we get a couple more bearish candle which makes the tdi cross, is this a good trade? {image}

we've just had an inside bar on h1 too!
  • #14,375
  • Jun 20, 2016 5:23am Jun 20, 2016 5:23am
Quoting kain775
likica what do you think about the possible setup on gpbusd m30 price has reached it's atr today, we are at resistance [scroll left on your own chart] we also have some divergance here.i am thinking if we get a couple more bearish candle which makes the tdi cross, is this a good trade? {image}
won't think of any short if TDI>68 and currently sitting just right above BRN. GJ has more to convince than GU as it was rejected from R61%, stoc around 50...
Appreciation is the key to wealth and happiness
  • #14,376
  • Jun 20, 2016 5:31am Jun 20, 2016 5:31am
Quoting likica
{quote} won't think of any short if TDI>68 and currently sitting just right above BRN. GJ has more to convince than GU as it was rejected from R61%, stoc around 50...

I realise i was using synergy tdi there, when i switch to my normal one [the one in the stress free tdi thread] the tdi is under 68

i shall have a look on GJ too..

but yes, there might be a little support at the brn on gu. would be best to wait for a break first. thanks for reminding me. i think i need to add in one of those indies again as i didn't notice it
  • #14,377
  • Jun 20, 2016 6:34am Jun 20, 2016 6:34am
Quoting likica
{quote} I would not enter on H4 on Monday and Friday Kain

Hi Likica

Is there any reason why you not enter on H4 on Monday and Friday ?
  • #14,378
  • Jun 20, 2016 8:02am Jun 20, 2016 8:02am
Today , 2 trades , both winners for 20 pips each :
- EG M30 , waited fir 1st candle after LO , away from DOL and 200ema , good TDI angle .
- EA M30 , idem and a good momentum given by TDI (green line piercing blue volatility band after 50 line till oversold area).
Both trades reached the ADR line of the indicator and I decided to close them for 20 pips.
The indicator used is the ISM ADR marker (30 days) and I noticed that it really indicates to be cautious when ADR is reached.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EA M30.png Size: 145 KB
Click to Enlarge Name: EG M30.png Size: 139 KB
  • #14,379
  • Jun 20, 2016 8:30am Jun 20, 2016 8:30am
Quoting inforserve
{quote} Hi Likica Is there any reason why you not enter on H4 on Monday and Friday ?
I m a day trader, don't like leaving trades over weekend for any surprising spike against them, Monday H4 Asian to London can't tell much and it normally move to close the weekend gap, so don't want to sit on it during choppiness or reversal.
Appreciation is the key to wealth and happiness
  • #14,380
  • Jun 20, 2016 8:31am Jun 20, 2016 8:31am
Quoting bodal
Today , 2 trades , both winners for 20 pips each : - EG M30 , waited fir 1st candle after LO , away from DOL and 200ema , good TDI angle . - EA M30 , idem and a good momentum given by TDI (green line piercing blue volatility band after 50 line till oversold area). Both trades reached the ADR line of the indicator and I decided to close them for 20 pips. The indicator used is the ISM ADR marker (30 days) and I noticed that it really indicates to be cautious when ADR is reached. {image} {image}
well managed
Appreciation is the key to wealth and happiness
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