Attachments: TMS for M30 charts

TMS for M30 charts

#14,781
Jul 14, 2016 10:26am Jul 14, 2016 10:26am

kain775
Joined Feb 2016 | Status: Trader | 881 Posts

Hi Likica, I have a question about support and resistance

You say to make sure if you are taking a counter trend trade from a good support or resistance level ...but can the ema's be used as support and resistance in that regard?

I think I saw you once use the 200 ema as resistance to take a trade off, but what about the 50ema and the 10ema? and what about combining timframes,

in the first image attached is usd/jpy on the daily chart. the brown dotted line is the 50ema, we can see price bouncing on it.

the second image is the usd/jpy m30 taken the same time as the first image, we can see divergance of price and tdi, we can see price not making higher highs, then we can see tdi crossing downwards and just dipping below the yellow mbl. I have no idea if opening a short at that point would be a good idea, ....so i am asking your expert opinion ....can we we use ema's like the 50 ema as support on m30 if it is coming from a higher timeframe????

thanks

at the moment the trend still looks quite bullish i have noticed.
but then again, i have seen you take counter trades when the trend looks still bullish.
i know a higher low, lower high and higher low is a sign of bears ...but sometimes if you wait that long price has gone too far to get good RR,
I know that big bull ABP's and small red APB's are a sign of bulls still in control, but often when i look at your counter trades [shorts] it looks like bulls still in control at time of entry.

I am wondering if a lower high, and then tdi cross below/near mbl is a sign bears are ready

sorry for the questions but this has been puzzling me slightly.
I don't want to short if bears are not ready, but bears do not speak, so we have to try see clue's ..

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#14,782
Jul 14, 2016 10:35am Jul 14, 2016 10:35am

bodal
| Joined Apr 2012 | Status: Trader | 248 Posts

2 trades today , away from DOL + 200ema + cross TD :
- EG , win +40 pips , with a big bearish hiden divergence followed by a regular bearish small one ,
- EA , break even after 20 pips in profit and I did it right in time because it rocketed the opposite side short after and hit SL !

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#14,783
Edited 12:26pm Jul 14, 2016 11:49am | Edited 12:26pm

likica
Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts

Quoting kain775

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Hi Likica, I have a question about support and resistance You say to make sure if you are taking a counter trend trade from a good support or resistance level ...but can the ema's be used as support and resistance in that regard? I think I saw you once use the 200 ema as resistance to take a trade off, but what about the 50ema and the 10ema? and what about combining timframes, in the first image attached is usd/jpy on the daily chart. the brown dotted line is the 50ema, we can see price bouncing on it. the second image is the usd/jpy m30 taken the...

Ignored

Kain,
I don't use 10MA nor 50MA nor 200MA by themself as S/R for a reason to enter a trade. I need PA to tell if bulls or bears are strong at that moment. Of course they can be a hint on H4 or D1 that price might bounce off them at first touch.
I currently have 200ema and 34ema on my m30 and trend line to watch PA reacts around them and yes, they are powerful as 1st touch.
You stretched your chart too wild to see the whole pic. I need to put my m30 here for you to see if it's wise to short. I would wait for retrace to go long instead. I don't trade this pair often as it usually have small move unless it bounces off a good s/r (not the one you mentioned). From my chart, I don't count it as divergence which I highlighted in thin pink line and (which you marked).
To be safe, don't try to take counter trend and compare with what I did until you have mastered trading with trend first ( you have not picked the right structure for hidden divergence either which is another name for continuation)
Bottom line is, wait for retrace back to the trend line on my m30 and if there is divergence/hidden div if bulls are presented of course, you might consider go in a long.
Taking note relationship between price and indicators, if price has a small move while indicator has big/long move, you will see potential for hidden divergence.

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Appreciation is the key to wealth and happiness

#14,784
Jul 14, 2016 11:20pm Jul 14, 2016 11:20pm

likica
Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts

If anyone followed UJ, the pair made a good bounce from the trend line with a hidden div (view from my prev post)
Here is the view for GJ, the pair might have a good retrace today as it is currently facing 200ma H4, however indicators @overbought, telling us bears are not there yet, but bulls are running out of steam...

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Appreciation is the key to wealth and happiness

#14,785
Jul 15, 2016 2:31am Jul 15, 2016 2:31am

longbk
| Joined Feb 2013 | Status: Trader | 181 Posts

Divergence off SR

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#14,786
Jul 15, 2016 2:54am Jul 15, 2016 2:54am

Fxentropy
Joined Feb 2015 | Status: Who Dares Wins | 1,710 Posts

I'm in this one guys, what you think?

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"What would you attempt to do, if you knew your success was a certainty?"

#14,787
Jul 15, 2016 2:54am Jul 15, 2016 2:54am

warsito123
| Joined Jul 2016 | Status: Trader | 287 Posts

guys is anyone open sell on EU and GU?
this is my position
because i still see the trend on TDI daily is going up a bit but the PA on yesterday candle is not good to go up cause of high wick
the GU is already good for buy in my opinion the EU is still good to sell for me
is there any other opinion guys?
thank you

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#14,788
Jul 15, 2016 3:04am Jul 15, 2016 3:04am

longbk
| Joined Feb 2013 | Status: Trader | 181 Posts

Quoting Fxentropy

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I'm in this one guys, what you think? {image}

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I think PA is choppiness and facing a support level ( green box) so that price is not ready to go South

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#14,789
Jul 15, 2016 3:05am Jul 15, 2016 3:05am

likica
Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts

Quoting Fxentropy

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I'm in this one guys, what you think? {image}

Ignored

I let it pass, not so keen on the choppiness and when TDI stoc are just right above 50 zone. Good luck

Appreciation is the key to wealth and happiness

#14,790
Jul 15, 2016 3:22am Jul 15, 2016 3:22am

Fxentropy
Joined Feb 2015 | Status: Who Dares Wins | 1,710 Posts

Quoting likica

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{quote} I let it pass, not so keen on the choppiness and when TDI stoc are just right above 50 zone. Good luck

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Quoting longbk

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{quote} I think PA is choppiness and facing a support level ( green box) so that price is not ready to go South {image}

Ignored

thanks guys! appreciated!

"What would you attempt to do, if you knew your success was a certainty?"

#14,791
Jul 15, 2016 5:20am Jul 15, 2016 5:20am

jstmzplsz
| Joined Sep 2014 | Status: Trader | 629 Posts

Quoting likica

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If anyone followed UJ, the pair made a good bounce from the trend line with a hidden div (view from my prev post) Here is the view for GJ, the pair might have a good retrace today as it is currently facing 200ma H4, however indicators @overbought, telling us bears are not there yet, but bulls are running out of steam... {image}

Ignored

Hi Likica,

If I may, I have a question regarding GJ and to be more specific TDI itself in case you've provided for us.

I attached a screen in which I marked with arrow fairly good setup, that I considered deeply. It was break of a trendline and 142.0 and cross on TDI + hidden div.
I did not enter as price was facing EMA200 on H4, however if we could forget about this for a sec and concentrate once again on TDI.
In case of possible going long in this situation, how important is the fact that TDI is coming from overbought area? I mean there was no div, but still it was rather steep escape. I'd appreciate your comment on this. Thank you

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#14,792
Edited 5:49am Jul 15, 2016 5:33am | Edited 5:49am

likica
Joined May 2012 | Status: Happy trading n enjoy green pips | 5,322 Posts

Quoting jstmzplsz

Disliked

{quote} Hi Likica, If I may, I have a question regarding GJ and to be more specific TDI itself in case you've provided for us. I attached a screen in which I marked with arrow fairly good setup, that I considered deeply. It was break of a trendline and 142.0 and cross on TDI + hidden div. I did not enter as price was facing EMA200 on H4, however if we could forget about this for a sec and concentrate once again on TDI. In case of possible going long in this situation, how important is the fact that TDI is coming from overbought area? I mean there...

Ignored

Market is ranging when you see both big red and green APBs presented and stuck between DOL @ YH and also 200ma H4. Technically we had a hidden divergence to go long, however, fundie came out not supporting it so it got back to choppiness. No set up atm on M30 unless price moves out of what seem to hold it.
Scalpers could get in long or short from M5 with the same principal I shared for M30.
One can trade when TDI move out from o/b or o/s and it normally have good move tho if that what you wanted to know, I just didn't want to take that short into DOL for counter trend trade and with big SL after TDI confirmed in this case, would rather wait for a retrace and get in from M5 instead of M30.
Here is an example of M5 I took on EJ around FO, I targeted for 50p but had to exit earlier as price stalled at BRN and YH. GU GJ EJ has been too volitile and it s good to scalp on M5 with M30 trend.

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Appreciation is the key to wealth and happiness

#14,793
Jul 15, 2016 5:51am Jul 15, 2016 5:51am

godhAndes
| Joined Jun 2016 | Status: Trader | 1 Post

Quoting jstmzplsz

Disliked

{quote} Hi Likica, If I may, I have a question regarding GJ and to be more specific TDI itself in case you've provided for us. I attached a screen in which I marked with arrow fairly good setup, that I considered deeply. It was break of a trendline and 142.0 and cross on TDI + hidden div. I did not enter as price was facing EMA200 on H4, however if we could forget about this for a sec and concentrate once again on TDI. In case of possible going long in this situation, how important is the fact that TDI is coming from overbought area? I mean there...

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i think a news

http://www.forexfactory.com/news.php?do=news&id=598954

#14,794
Jul 15, 2016 6:20am Jul 15, 2016 6:20am

jstmzplsz
| Joined Sep 2014 | Status: Trader | 629 Posts

Quoting likica

Disliked

{quote} Market is ranging when you see both big red and green APBs presented and stuck between DOL @ YH and also 200ma H4. Technically we had a hidden divergence to go long, however, fundie came out not supporting it so it got back to choppiness. No set up atm on M30 unless price moves out of what seem to hold it. Scalpers could get in long or short from M5 with the same principal I shared for M30. One can trade when TDI move out from o/b or o/s and it normally have good move tho if that what you wanted to know, I just didn't want to take that short...

Ignored

Thanks Likica for shedding some light on this