eur/aud looks tempting and is about to cross probably, but the pair has more or less reached it's atr for the day 
originally noticed this setup after the train had already left, but luckily price pulled back a bit so i entered.
TrendLines drawn in too Likica
noticed at the BRN that price stalled and created one of those phx setups pcrf or something. also in the past it seemed to be a little bit of a resistance level. there was also barely some divergance on my tdi. price closed below the trendline. tdi crossed and very near to the yellow line too. stocks was now out of overbought. the dol looked like it have been touched several times by a few candels ..., and given price action i was prepared to try selling it. turned out it resulted in a profitable trade. profits were taken before the 200 ema
2 wins, 2 losses today, but i managed to cut the losses short a bit. I think I know what I did wrong with the losses anyway, i will post them a bit later as i need to go out now, but im pretty sure i know where i went wrong. overall the day was profitable though.
TrendLines drawn in too Likica
noticed at the BRN that price stalled and created one of those phx setups pcrf or something. also in the past it seemed to be a little bit of a resistance level. there was also barely some divergance on my tdi. price closed below the trendline. tdi crossed and very near to the yellow line too. stocks was now out of overbought. the dol looked like it have been touched several times by a few candels ..., and given price action i was prepared to try selling it. turned out it resulted in a profitable trade. profits were taken before the 200 ema
2 wins, 2 losses today, but i managed to cut the losses short a bit. I think I know what I did wrong with the losses anyway, i will post them a bit later as i need to go out now, but im pretty sure i know where i went wrong. overall the day was profitable though.
- #14,666
- Edited 10:43pm Jul 6, 2016 10:10pm | Edited 10:43pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Yesterday's unlucky day, PT didn't filled by some pips {image} {image}
Update: EN is diving nicely leaving me behind
Appreciation is the key to wealth and happiness
- #14,667
- Edited 10:51pm Jul 6, 2016 10:17pm | Edited 10:51pm
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
{quote} yes, I saw the trendline this time which is why I decided to trade it, I was just surprised to see you traded it but it seems like you saw the encouraging price action too so decided the BRN was not an issue, I think perhaps why I am getting confused sometimes Is because your price action skills are better than mine, so what I might see as a good price action setup you might not see as such a good one and then decide that BRN will be an issue here. I am trying to take all your comments on board, I appreciate the feedback you are giving me,...
.I m telling you why.
First, you let me know we have different views based on our experiences, that makes me realise that I need to be more kind and patient
with others.Second, you did some extra works to improve your view.
Third, you told me your trading is improving
Here what I am trying to share with you about how I looked left (where I marked 'left' when I was in my 1st trade and let it run toward my weekly S/R. When I was in my 2nd trade, I also looked at 'left' to predict my 2nd trade to be running the same mode (I viewed it as a bigger pic 'M' shape, so I didn't look at recent swing where those 2 pink lines but the outter swing which I marked 'left' as part of 'M'). I exited it early to go to bed and didn't want to leave my trade during FOMC minutes. Those 2 pink lines you can see they run at very similar mode ( not smooth). I expect UCAD will continue running South today.It's my view only. Others might have completely different views and it's up to you to take in or let it pass...
Happy pipping!
Appreciation is the key to wealth and happiness
- #14,668
- Jul 7, 2016 1:15am Jul 7, 2016 1:15am
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
{quote} This is one of good posts
thankyou for the explanation and example likica,
I had another winning trade this morning on eur/cad. when I looked left I saw that the two most recent swings made it to the red horizontal line so i took profit around this level. I entered this trade because price had closed below a trendline and tdi had already crossed below the mbl level, there was also no 200ema or brn in the way to worry about.
I missed eurnzd unfortunately,i was just calculating my lot sizes when the train took off without me
I was looking at usd/cad m30 before i saw your post. I noticed the blue swing to the left and concluded there was no resistance there. the horizontal red line is where price was currently stalled and i was waiting for a break below there and a tdi cross below the mbl in order to short. BUT on h1 i noticed the 200 ema [green] was there and could act as support [highlighted by the yellow arrow in the last image], the m30 closed below my red horizontal line but not the 200 ema [green MA on h1], therefore i thought it was unsafe to take the trade. by the time the m30 had closed below the green MA on h1 the train had gone too far, also I saw a BRN [highlighted in green on the last image]
Am I right in thinking it would be safe to short into the BRN because on the last swing it was not acting as resistance?
Also what about the green 200 ema blocking the path on h1, was I right to pay attention to that or should I ignore it as the recent swing didn't have resistance there?
thanks
- #14,670
- Jul 7, 2016 3:29am Jul 7, 2016 3:29am
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
- #14,671
- Jul 7, 2016 3:48am Jul 7, 2016 3:48am
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
{quote} thankyou for the explanation and example likica, I had another winning trade this morning on eur/cad. when I looked left I saw that the two most recent swings made it to the red horizontal line so i took profit around this level. I entered this trade because price had closed below a trendline and tdi had already crossed below the mbl level, there was also no 200ema or brn in the way to worry about. I missed eurnzd unfortunately,i was just calculating my lot sizes when the train took off without me
For future posts, pls make them less details as possible before posting for me and other traders to easily view them.
Do you use PAC and that pink EMA to make your trading decisions? if not, take it off.
Make you trend line less thick to not over highlight your APBs.
What ever levels (EMAs pivots, BRN, DOL) do pay attentions but keep eyes on them but you need PA to tell you by looking at how price behaved in the past and current around them and act accordingly. I don't think you need to ask every single case. Self observation helps more as it will build your confidence instead of me telling you this time and you see it different next time. Every moment is unique so act according to what your chart tells you at that present moment, even though there are some patterns for us to follow does not mean it will turn out exact outcome as what happened in the past.
Look at my UCAD below, I can see price is not going down smoothly by looking left circle. However, I am expecting it to go further because of left swing and TDI is currently at oversold (I might be wrong if fundie interferes)
Appreciation is the key to wealth and happiness
{quote} ok, i'll try to do something about my charts when i post them, i do not use the pac ...but it comes with the synergy apb's and i find synergy apb's more useful than normal abp's so that is why the pac was there, ok,thanks i think i have a little bit better understanding, im probably still a bit off from being an expert though
Never argue with a fool; onlookers may not be able to tell the difference.
- #14,675
- Jul 7, 2016 5:08am Jul 7, 2016 5:08am
- Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts
Appreciation is the key to wealth and happiness
- #14,676
- Edited 6:19am Jul 7, 2016 5:49am | Edited 6:19am
I follow this thread from the beginning LK made this thread after learn basic how to use TDI from big E thread.
And one thing why i like this thread is because LK always explain her analysis so simple.
Since i follow this thread at beginning until now, my trading has show so many improvement which mean my winning percentage is increase than before.
One thing i learn from this thread is to take more patience and just only take trading when the condition is really perfect to OP.
The last thing i want to say is really thank you very much to LK
Regards and happy trading
PS : UCAD 31 pips.
And one thing why i like this thread is because LK always explain her analysis so simple.
Since i follow this thread at beginning until now, my trading has show so many improvement which mean my winning percentage is increase than before.
One thing i learn from this thread is to take more patience and just only take trading when the condition is really perfect to OP.
The last thing i want to say is really thank you very much to LK
Regards and happy trading
PS : UCAD 31 pips.
only 100 pips / week
- #14,677
- Jul 7, 2016 6:01am Jul 7, 2016 6:01am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #14,678
- Jul 7, 2016 6:44am Jul 7, 2016 6:44am
{quote} Pinux76, Ignore what I marked for the moment, can you see price was stepping up and respected trend line? If you can't see, you need to open your chart with nothing except APBs and study it harder. Come back to your mark 1 and 2, I could mark where I marked as 1 or could move to the most recent high which is the high just right below DOL, as between where you marked there are a few highs and a few lows. The main point is you need to see price stepping up. I need to make a correction from you remark about price went up and pullback. Yes,...
thanks for the answer
I think i have used non the correct word
about the managed when you are in trade !! I have not the discipline or i have fear to loss on entry because i'm not master the method!! sorry . it was not my intention make a judgmentabout the mark 1 and 2 , i have focused my eyes because i have searched High and HigherHigh for idea of trend up.
i have blinders for not see the high low with the trend line.
Real Thanks i come back to study very harder
