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TMS for M30 charts

  • #14,501
  • Edited 7:24am Jun 28, 2016 7:08am | Edited 7:24am
current trade ended on GA
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"What would you attempt to do, if you knew your success was a certainty?"
  • #14,502
  • Edited 8:14am Jun 28, 2016 7:23am | Edited 8:14am
GBPUSD +65 pips
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  • #14,503
  • Jun 28, 2016 8:18am Jun 28, 2016 8:18am
Quoting Fxentropy
{quote} i dont always trade divergence, and in this case i saw weak CAD across the board

hi, perhaps your trading style is differant from others here, i have never heard people in this thread refer to the currencies strength when trading.

How did you know CAD was weak across the board?

before I came to TMS I used to find out which currencies are weak by doing this:

https://www.dailyfx.com/forex/educat...urrencies.html

[i actually had an indicator to make it much less time consuming to calculate, but the indicator is on my pc,and my pc is packed away right now]

how are you finding out CAD is weak and what specifically do you do with the information. take any long that appears? surely it can't be as simple as that.
  • #14,504
  • Jun 28, 2016 8:55am Jun 28, 2016 8:55am
Quoting kain775
{quote} How did you know CAD was weak across the board?how are you finding out CAD is weak and what specifically do you do with the information. take any long that appears? surely it can't be as simple as that.

take a look at crosses for that currency you wanna trade, it will show you quick if the currency is strong or weak
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"What would you attempt to do, if you knew your success was a certainty?"
  • #14,505
  • Jun 28, 2016 9:05am Jun 28, 2016 9:05am
Quoting Fxentropy
{quote} take a look at crosses for that currency you wanna trade, it will show you quick if the currency is strong or weak {image}


perhaps im missing something, but based on those charts you've posted there CAD looked strong before you took your trades and there had been a bearish rally beforehand
  • #14,506
  • Jun 28, 2016 9:16am Jun 28, 2016 9:16am
hi,

ok, so I pilfered the strength meter from the robhino thread and it shows GBP is strong and JPY is weak [CAD is pretty weak too like you said]

here is GBP/JPY right now,

we have a cross on H4, counter trend.

is this a good setup to take? why? why not?
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  • #14,507
  • Jun 28, 2016 9:50am Jun 28, 2016 9:50am
a little bit risky trade cause entry before TDI cross..but after i saw a divergence + TDI cross + break TL on the next candle i decide to let it run and close near BRN
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only 100 pips / week
  • #14,508
  • Jun 28, 2016 10:09am Jun 28, 2016 10:09am
Quoting nefilim
a little bit risky trade cause entry before TDI cross..but after i saw a divergence + TDI cross + break TL on the next candle i decide to let it run and close near BRN {image}
  • #14,509
  • Jun 28, 2016 10:31am Jun 28, 2016 10:31am
Quoting kain775
hi, ok, so I pilfered the strength meter from the robhino thread and it shows GBP is strong and JPY is weak [CAD is pretty weak too like you said] here is GBP/JPY right now, we have a cross on H4, counter trend. is this a good setup to take? why? why not? {image}
never take trade on H4 without checking at D1, only take it when they go in the same direction with each other.

Quoting Fxentropy
Back from holiday... {image}
welcome back and nice trading
Appreciation is the key to wealth and happiness
  • #14,510
  • Jun 28, 2016 10:36am Jun 28, 2016 10:36am
Quoting likica
{quote} welcome back and nice trading
thanks
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"What would you attempt to do, if you knew your success was a certainty?"
  • #14,511
  • Jun 28, 2016 10:41am Jun 28, 2016 10:41am
Quoting nefilim
a little bit risky trade cause entry before TDI cross..but after i saw a divergence + TDI cross + break TL on the next candle i decide to let it run and close near BRN {image}
div + beob = $
Appreciation is the key to wealth and happiness
  • #14,512
  • Jun 28, 2016 10:52am Jun 28, 2016 10:52am
Quoting likica
{quote} div + beob = $
hoho...yes...i love when i see DIV + BEOB/BUOB on my chart
only 100 pips / week
  • #14,513
  • Jun 28, 2016 10:57am Jun 28, 2016 10:57am
Quoting Fxentropy
{quote} thanks {image}
Hi Fxentropy

Is there any reason you haven't taken short 6 candles before your entry?
  • #14,514
  • Jun 28, 2016 11:00am Jun 28, 2016 11:00am
Quoting likica
{quote} never take trade on H4 without checking at D1, only take it when they go in the same direction with each other. {quote} welcome back and nice trading

hi,
what about on m30,

must the h4 or h1 be in the same direction as the m30?
I know lastingwell when she traded the hourly would make sure the h4 was in the same direction ...but do we have to make sure the m30 is in the same direction as the h4?
  • #14,515
  • Jun 28, 2016 11:08am Jun 28, 2016 11:08am
Quoting kain775
{quote} hi, what about on m30, must the h4 or h1 be in the same direction as the m30? I know lastingwell when she traded the hourly would make sure the h4 was in the same direction ...but do we have to make sure the m30 is in the same direction as the h4?
Not always for me ( If you looked up my profile, you would see I took M30 against H4 with success). Yes, M30 should be in the same direction with H1 and It is safer to go with H4 too.
Appreciation is the key to wealth and happiness
  • #14,516
  • Jun 28, 2016 11:11am Jun 28, 2016 11:11am
Quoting hovedguy
{quote} Hi Fxentropy Is there any reason you haven't taken short 6 candles before your entry?
that was before London open...out of my trading hours
"What would you attempt to do, if you knew your success was a certainty?"
  • #14,517
  • Jun 28, 2016 11:20am Jun 28, 2016 11:20am
Quoting Fxentropy
{quote} that was before London open...out of my trading hours
I see.... thanks
  • #14,518
  • Jun 28, 2016 11:40am Jun 28, 2016 11:40am
Quoting hovedguy
{quote} I see.... thanks
Hovedguy,
Look at the chart below with vertical lines and see why the 1st short at 11.30am (1.30hr after LO) failed where TDI was still around 68, while 2nd short has divergence and green tdi crossed yellow line and move away from 68
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Appreciation is the key to wealth and happiness
  • #14,519
  • Jun 28, 2016 12:13pm Jun 28, 2016 12:13pm
so tempting...but TDI still above 68 and price above DOL, so better watch and see...
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only 100 pips / week
  • #14,520
  • Jun 28, 2016 12:23pm Jun 28, 2016 12:23pm
Quoting likica
{quote} Hovedguy, Look at the chart below with vertical lines and see why the 1st short at 11.30am (1.30hr after LO) failed where TDI was still around 68, while 2nd short has divergence and green tdi crossed yellow line and move away from 68 {image}
for me was 0.30h after LO?! i could be wrong ...my broker is GMT
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"What would you attempt to do, if you knew your success was a certainty?"
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