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TMS for M30 charts

  • #14,421
  • Jun 23, 2016 5:31am Jun 23, 2016 5:31am
Quoting likica
took a chance from Big DIV off BRN to bag greenies before eveye waking up to vote. If anyone want to follow any of my trades, number one rule is remember to look left... {image}

on your first trade i see when i look left price reached the previous highs and formed a pullback bar, tdi soon crossed, there was divergence in your favor and you entered the trade.

but it looks to me like you might of been selling into support?
i have marked on my naked chart a horizontal line where i think the support is, the red vertical line is where you took your short.

is this horizontal line not support?
if it's not support why is not support because price couldn't get through there and stalled there previously for a while.
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  • #14,422
  • Edited 5:49am Jun 23, 2016 5:38am | Edited 5:49am
Quoting kain775
{quote} on your first trade i see when i look left price reached the previous highs and formed a pullback bar, tdi soon crossed, there was divergence in your favor and you entered the trade. but it looks to me like you might of been selling into support? i have marked on my naked chart a horizontal line where i think the support is, the red vertical line is where you took your short. is this horizontal line not support? if it's not support why is not support because price couldn't get through there and stalled there previously for a while. {image}...
Here is the snap shot of 1st trade for you to see why I took it, and yes, it stopped at support which covered my 50 greenies for profit ( I exited it early as it got late and I was not sure if price could break thru BRN). This type can be called Cat Ears where you have choppiness in the middle then price pops up created a big div off S/R
Attached Image (click to enlarge)
Click to Enlarge Name: 22.6.16 GJ BDIV S@11.40a est +50.png Size: 66 KB
Appreciation is the key to wealth and happiness
  • #14,423
  • Jun 23, 2016 5:45am Jun 23, 2016 5:45am
EA short @LO today (spotting outside bar then inside bar bounced off a big hidden div, tdi and stoc were heading to oversold area)
Attached Image (click to enlarge)
Click to Enlarge Name: 23.6.16 EA BHD S@5.13p a LO +50.png Size: 81 KB
Appreciation is the key to wealth and happiness
  • #14,424
  • Jun 23, 2016 5:50am Jun 23, 2016 5:50am
Quoting likica
{quote} Here is the snap shot of 1st trade for you to see why I took it, and yes, it stopped at support which covered my 50 greenies for profit ( I didn't go further as it got late and I was not sure if price could make it further down). This type can be called Cat Ears where you have choppiness in the middle then price pops up created a big div off S/R {image}


Hi, im not sure I understand. The place where you marked "low" is the same place i had marked in as support. price had made another low after that which you have marked in on your chart too, when you took your trade price was above the first low, how did you know that price would not get stuck at the first low on your chart? , how did you know it would go to the second low?
  • #14,425
  • Jun 23, 2016 5:52am Jun 23, 2016 5:52am
Quoting jstmzplsz
Hi everyone! My name is jstmzplsz, you can call me J. I'm lurking into this thread for a some time now and I decided to introduce myself. As I have my daily job I might be here not that often, but I'll be happy to share my ideas/analysis with you. My aim is to be full time trader one day, I guess it's nothing new To not come with empty hands I'm sharing my top-down analysis of GU, as all of you know today we have Brexit so volatility might be big, be careful. Pls do not hesitate to comment Cheers {image} {image} {image}
Welcome to M30 J. Many thanks for sharing GU view which we all need to see for S/R
Appreciation is the key to wealth and happiness
  • #14,426
  • Jun 23, 2016 5:55am Jun 23, 2016 5:55am
Quoting kain775
{quote} Hi, im not sure I understand. The place where you marked "low" is the same place i had marked in as support. price had made another low after that which you have marked in on your chart too, when you took your trade price was above the first low, how did you know that price would not get stuck at the first low on your chart? , how did you know it would go to the second low?
I didn't know how far it could go, normally with this type of set up, without that BRN around where I exited it and if with no concern about the Brexit, I could let it go further more. Google Cat Ears set up and you could at least find one from my post from my profile here
Bottom line to answer your question "how did I know" = experience.
I am not always right, keep that in mind too.
Appreciation is the key to wealth and happiness
  • #14,427
  • Jun 23, 2016 6:23am Jun 23, 2016 6:23am
Quoting likica
{quote} Here is the snap shot of 1st trade for you to see why I took it, and yes, it stopped at support which covered my 50 greenies for profit ( I exited it early as it got late and I was not sure if price could break thru BRN). This type can be called Cat Ears where you have choppiness in the middle then price pops up created a big div off S/R {image}
Hi，LK，Why you didn't want take this long trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 22.6.16 GJ BDIV S@11.40a est +50.png Size: 67 KB
  • #14,428
  • Jun 23, 2016 6:23am Jun 23, 2016 6:23am
Quoting likica
{quote} I didn't know how far it could go, normally with this type of set up, without that BRN around where I exited it and if with no concern about the Brexit, I could let it go further more. Google Cat Ears set up and you could at least find one from my post from my profile here Bottom line to answer your question "how did I know" = experience. I am not always right, keep that in mind too.

thanks, yes i managed to find it before the edit, i originally googled cats ear setup like you said and it did not come up in google lol, other things came up, i had to change the google words to find it.

your trading style is very aggressive, it looked like you entered a short on a open candle there.....
not sure if i'd have the confidence to do that.

also you draw in support and resistance different from me, you tend to use diagonal lines whereas i tend to use horizontal lines. often the lines that you draw and that i draw end up near the same place but also sometimes the diagonal lines find support and resistance that my horizontal lines can't see.

and why are you trading today when every other trader is scared of brexit?
  • #14,429
  • Jun 23, 2016 6:35am Jun 23, 2016 6:35am
Quoting kain775
{quote} thanks, yes i managed to find it before the edit, i originally googled cats ear setup like you said and it did not come up in google lol, other things came up, i had to change the google words to find it. your trading style is very aggressive, it looked like you entered a short on a open candle there..... not sure if i'd have the confidence to do that. also you draw in support and resistance different from me, you tend to use diagonal lines whereas i tend to use horizontal lines. often the lines that you draw and that i draw end...
Do what ever that suits you. I am not scared of any event, be aware and playing between the lines and with caution and with limit. By the way, I did not enter at beginning but in the middle and was sitting with a retrace
Appreciation is the key to wealth and happiness
  • #14,430
  • Jun 23, 2016 6:43am Jun 23, 2016 6:43am
Quoting likica
{quote} can be called Cat Ears where you have choppiness in the mid,,, {image}
The purr fect trade huh

Not to be confused with the dead cat bounce, that one's catastropic
"You know what needs to be addressed , completely completely reverse that".
  • #14,431
  • Jun 23, 2016 6:44am Jun 23, 2016 6:44am
Quoting leescofield
{quote} Hi，LK，Why you didn't want take this long trade. {image}
My eyes didn't see bulls at that time, I saw pin and a big bear apb just right then and dol right in front of my face where no divergence and note that price was stepping down also (LH LL)? no way
Appreciation is the key to wealth and happiness
  • #14,432
  • Jun 23, 2016 6:45am Jun 23, 2016 6:45am
Quoting Kmw
{quote} The purr fect trade huh
nothing is perfect K, I made it up or the market made it up for me
Appreciation is the key to wealth and happiness
  • #14,433
  • Jun 23, 2016 6:56am Jun 23, 2016 6:56am
First time I'd heard of the pattern though, it's valid, I googled it just to check it out.
Thought ya must have invented it .

Link for those who may be interested. Pattern site is a good one I under utilise.

http://thepatternsite.com/CatsEars.html
"You know what needs to be addressed , completely completely reverse that".
  • #14,434
  • Jun 23, 2016 7:21am Jun 23, 2016 7:21am
Quoting likica
{quote} Here is the snap shot of 1st trade for you to see why I took it, and yes, it stopped at support which covered my 50 greenies for profit ( I exited it early as it got late and I was not sure if price could break thru BRN). This type can be called Cat Ears where you have choppiness in the middle then price pops up created a big div off S/R {image}
Hi Likica just wondering why taking that trade back into the dol didn't put you off?
  • #14,435
  • Jun 23, 2016 7:52am Jun 23, 2016 7:52am
EA m15, good setup if current candle closes bearish? it's at your resistance level likica
Attached Image (click to enlarge)
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  • #14,436
  • Jun 23, 2016 8:10am Jun 23, 2016 8:10am
Quoting kain775
EA m15, good setup if current candle closes bearish? it's at your resistance level likica {image}

m30 looks like it wants to cross now, and with 5 minutes to go till the new 15 minute candle closes it looks like it may be an inside bar.
  • #14,437
  • Jun 23, 2016 8:10am Jun 23, 2016 8:10am
Quoting Scrambleguy
{quote} Hi Likica just wondering why taking that trade back into the dol didn't put you off?
Look left (recent swing)

Quoting Kmw
First time I'd heard of the pattern though, it's valid, I googled it just to check it out. Thought ya must have invented it . Link for those who may be interested. Pattern site is a good one I under utilise. http://thepatternsite.com/CatsEars.html
hehehhe...if I invented, I would name it dog ears as I only like dogs (sorry no cats)
Appreciation is the key to wealth and happiness
  • #14,438
  • Jun 23, 2016 8:58am Jun 23, 2016 8:58am
Quoting jstmzplsz
Hi everyone! My name is jstmzplsz, you can call me J. I'm lurking into this thread for a some time now and I decided to introduce myself. As I have my daily job I might be here not that often, but I'll be happy to share my ideas/analysis with you. My aim is to be full time trader one day, I guess it's nothing new To not come with empty hands I'm sharing my top-down analysis of GU, as all of you know today we have Brexit so volatility might be big, be careful. Pls do not hesitate to comment Cheers {image} {image} {image}



Fortunately GU went as planned
Attached Image (click to enlarge)
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  • #14,439
  • Jun 23, 2016 9:03am Jun 23, 2016 9:03am
Quoting jstmzplsz
{quote} Fortunately GU went as planned {image}
nice trading J. I was in that train too
Appreciation is the key to wealth and happiness
  • #14,440
  • Jun 23, 2016 9:11am Jun 23, 2016 9:11am
Quoting likica
{quote} nice trading J. I was in that train too


for that amount of pips i don't see where the logical stop loss would have gone to get a RR of atleast 1:1 ... if at the top of the high then that's not 1:1
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