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TMS for M30 charts

  • #15,101
  • Aug 1, 2016 1:01pm Aug 1, 2016 1:01pm
Quoting Lookleft
{quote} I see the following TDI green and stochi heading down at your entry 50 ema directly above Support where you marked High Also how many weekly pivot indicators do you need

hi Lookleft,

At my entry i entered the bar after the the big blue one and the big blue one was a bounce trade and good angle on tdi, I entered on the retrace as I would be able to get my RR of 1: 1.5 then. by time the retrace was in effect the tdi was sloping down ...but i don't see what is wrong with waiting for a retrace to enter as everyone does it time to time.

Also I did not take note of the 50 ema because I never see likica mention it. I see her mention the 200 ema a lot but never the 50 ..so I don't really use it for support/resistance. tbh, i don't really use it at all.

About the support, [did you mean resistance?] I did not class it as a resistance ..because I only really see likica use diagonal resistance and there is no other swing level connecting to that resistance either, in the past where i used to catogorise every little peak or place price stopped as resistance my charts looked like railroad tracks with a few pips inbetween each level. I also see likica will sometimes trade past these peaks, Perhaps though I am wrong on this and you are right. Would love it if likica could come in and try and clear up the confusion.

and about the pivot indicators.
blame Likica!
This is her template with a few minor alterations ....and BOTH those pivot indicators were her doing


lisat i have drawn in the divergance now.
it is only a slight divergance, but on my charts the swing on the right of the tdi is lower than the swing on the left slightly
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  • #15,102
  • Aug 1, 2016 1:21pm Aug 1, 2016 1:21pm
Quoting kain775
{quote} hi Lookleft, At my entry i entered the bar after the the big blue one and the big blue one was a bounce trade and good angle on tdi, I entered on the retrace as I would be able to get my RR of 1: 1.5 then. by time the retrace was in effect the tdi was sloping down ...but i don't see what is wrong with waiting for a retrace to enter as everyone does it time to time. Also I did not take note of the 50 ema because I never see likica mention it. I see her mention the 200 ema a lot but never the 50 ..so I don't really use it for support/resistance....
There was divergence for a long but no S/R to hold (look left), price kept making LH LL
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Appreciation is the key to wealth and happiness
  • #15,103
  • Aug 1, 2016 1:33pm Aug 1, 2016 1:33pm
Quoting likica
{quote} There was divergence for a long but no S/R to hold (look left), price kept making LH LL {image}

There was a davit support level at the divergance likica and i was using this, ....then got a high, then a perceived lower high, then trendline break and cross above mbl so i bought

also i only waited for a high and a lower high.
you reccomend waiting for a high, a lower high, a higher high .....and then consider buying?
  • #15,104
  • Edited 1:58pm Aug 1, 2016 1:38pm | Edited 1:58pm
Quoting kain775
{quote} There was a davit support level at the divergance likica and i was using this, ....then got a high, then a perceived lower high, then trendline break and cross above mbl so i bought also i only waited for a high and a lower high. you reccomend waiting for a high, a lower high, a higher high .....and then consider buying?
Davit's pp is the same as my weekly S/R (use one or other)does not work when market is trending, works best when market is ranging. Always train your eyes to look left and use your manual drawing...
Appreciation is the key to wealth and happiness
  • #15,105
  • Aug 1, 2016 1:41pm Aug 1, 2016 1:41pm
Quoting bodal
4 trades today : 2 breakeven +- 1 pip for EU and EG 1 loss ECad for -21 pips (too tight a stop loss , I think) 1 win for +34 pips EA (away from DOL , 200ema and a divergence but some candles ago) My point is in the case of the divergence of EA : how long do you consider a divergence as efficient ? how many candles etc... Can this question may be answered ? {image} {image}
Each move usually have 5 to 8 APBs regardless of divergence or no divergence (sometimes more if you count small APBs) , if you want to jump in 8th APB, better wait for a retrace. This question was asked and answered by me . Why waited after divergence already form and tdi crossed?
Appreciation is the key to wealth and happiness
  • #15,106
  • Aug 1, 2016 1:53pm Aug 1, 2016 1:53pm
+54 pips from GBPAUD. Divergence off Yesterdays low. Exit @ weekly pivot.
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  • #15,107
  • Aug 1, 2016 1:58pm Aug 1, 2016 1:58pm
Quoting Mudosh
+54 pips from GBPAUD. Divergence off Yesterdays low. Exit @ weekly pivot. {image}
nice trading Mudosh
Appreciation is the key to wealth and happiness
  • #15,108
  • Aug 1, 2016 2:09pm Aug 1, 2016 2:09pm
Quoting likica
{quote} nice trading Mudosh
Thank you Likica.
  • #15,109
  • Aug 1, 2016 2:12pm Aug 1, 2016 2:12pm
Quoting Mudosh
+54 pips from GBPAUD. Divergence off Yesterdays low. Exit @ weekly pivot. {image}

nice trading!
  • #15,110
  • Edited 5:42pm Aug 1, 2016 4:41pm | Edited 5:42pm
Quoting kain775
{quote} hi Lookleft, At my entry i entered the bar after the the big blue one and the big blue one was a bounce trade and good angle on tdi, I entered on the retrace as I would be able to get my RR of 1: 1.5 then. by time the retrace was in effect the tdi was sloping down ...but i don't see what is wrong with waiting for a retrace to enter as everyone does it time to time. Also I did not take note of the 50 ema because I never see likica mention it. I see her mention the 200 ema a lot but never the 50 ..so I don't really use it for support/resistance....
Kain,
If I may, I would like to make a comment about the chart you posted at #15,101. I occasionally drop by the threads just to observe. Likica is a great trader and an excellent teacher. I have read many of your posts here and have observed your learning process. You spend a great deal of time analyzing indicators and HH HL, pivots, daily ranges, s&r, daily open lines, etc.. When I first glanced at the chart you posted, the VERY FIRST THING thing I saw was THE TREND IS DOWN, based on the aqua trend-line, the red trend-lines and your time frame indicator at the top right corner of the chart. I also did not see a long entry based on stoch (already overbought) or TDI crossovers (all around the 50 line). With all of those things telling you the trend is down, why would you want to enter a long trade? If you are going to countertrend the prevailing trend, it should be a very small lot, short term trade and only then when all the other signals are there. In my experience, without TDI confirmation, you are doomed to fail. Price action and trend are my focus when entering trades, confirmed by the TDI. Keep it simple and your trading will improve!!!!
Regards,
Phx62
  • #15,111
  • Aug 1, 2016 5:35pm Aug 1, 2016 5:35pm
GA +47 from div
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  • #15,112
  • Aug 1, 2016 8:57pm Aug 1, 2016 8:57pm
Quoting Phx62
{quote} Kain, If I may, I would like to make a comment about the chart you posted at #15,101. I occasionally drop by the threads just to observe. Likica is a great trader and an excellent teacher. I have read many of your posts here and have observed your learning process. You spend a great deal of time analyzing indicators and HH HL, pivots, daily ranges, s&r, daily open lines, etc.. When I first glanced at the chart you posted, the VERY FIRST THING thing I saw was THE TREND IS DOWN, based on the aqua trend-line, the red trend-lines and your time...
very long time to see you, i miss your comments so much
  • #15,113
  • Edited 10:46pm Aug 1, 2016 10:32pm | Edited 10:46pm
Quoting Phx62
{quote} Kain, If I may, I would like to make a comment about the chart you posted at #15,101. I occasionally drop by the threads just to observe. Likica is a great trader and an excellent teacher. I have read many of your posts here and have observed your learning process. You spend a great deal of time analyzing indicators and HH HL, pivots, daily ranges, s&r, daily open lines, etc.. When I first glanced at the chart you posted, the VERY FIRST THING thing I saw was THE TREND IS DOWN, based on the aqua trend-line, the red trend-lines and your time...
I am delighted to see you around, hope all is well with you Phx62. Thanks for helping out and your kind words about your student
Appreciation is the key to wealth and happiness
  • #15,114
  • Edited 10:55pm Aug 1, 2016 10:35pm | Edited 10:55pm
Big red news is coming out for AUD soon...
Appreciation is the key to wealth and happiness
  • #15,115
  • Aug 1, 2016 10:58pm Aug 1, 2016 10:58pm
so tempting for GJ

wait and see until LO...
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only 100 pips / week
  • #15,116
  • Aug 2, 2016 1:58am Aug 2, 2016 1:58am
Quoting likica
{quote} Each move usually have 5 to 8 APBs regardless of divergence or no divergence (sometimes more if you count small APBs) , if you want to jump in 8th APB, better wait for a retrace. This question was asked and answered by me . Why waited after divergence already form and tdi crossed?
Hi Likica ,
Thanks for the answer.
In fact my point is that being in Europe and waiting for LO , I noticed that often divergences occured a few candles before I am ready to open trades . So I was always asking me how long does a divergence can be considered as valid but your answer is to consider where we are in the number of Apb candles of the same color and wait for a retracement if necessary ? Am I understanding you well ?
  • #15,117
  • Aug 2, 2016 4:21am Aug 2, 2016 4:21am
Quoting Phx62
{quote} Kain, If I may, I would like to make a comment about the chart you posted at #15,101. I occasionally drop by the threads just to observe. Likica is a great trader and an excellent teacher. I have read many of your posts here and have observed your learning process. You spend a great deal of time analyzing indicators and HH HL, pivots, daily ranges, s&r, daily open lines, etc.. When I first glanced at the chart you posted, the VERY FIRST THING thing I saw was THE TREND IS DOWN, based on the aqua trend-line, the red trend-lines and your time...

Hi,

thanks for the feedback,
the overbought comment is probably an area I may have been slipping up slightly on trades. I have heard it mentioned that when stocs is overbought we are in a strong trend, but obviously in that case on my chart we were not in a bullish trend yet, but because i've heard it mentioned so much in tms threads that stocs overbought = strong trend ...i guess it got put to the back of my mind the other meaning of stocs overbought which is that it's overbought and people are likely to stop buying soon. As we were not in a bullish trend the meaning of that stocs overbought was people will stop buying soon .....but unfortunately i forgot that for reasons mentioned above.

As to why I wanted to long,
to me, it appears that likica goes long in similar situations sometimes. When I say "appears", I mean that's the way it came accross to me when i look at some of her past charts. It may be that there is something different about our setups that i did not notice and that she does not go long in similar situations, but initially it still looked like to me she goes long in similar situations hence why I attempted the trade.

likica pointed out that the divergance had no support, I replied that it had support from davits indicator, to which she replied the indicator is ineffective in trending markets. This I did not know. Initially when I took this trade I thought it was similar to a likica setup because I had support but turns out I did not have support.

As for the TDI being around the 50 line, maybe there is something I am missing here I cannot see the issue here as it was a bounce trade [remember the big blue apb was the candle that triggered the bounce trade], and it occurred above the 50 line, and also above the mbl [yellow] line. I entered on a pullback on the next candle.

Thanks for the feedback btw,

I do not think if that same trade came around again I would take it having analyzed the feedback from you guys.

with the charts you see me posting, it is based on likica's style I am trying to emulate usually. On the rare occasion you may see me trying to blend likica's style with somebody else's, but usually the trades taken is me "trying" to copy something likica has done. When I say "trying", this means that I might not necessarily be getting it right.

Sometimes tms styles can be blended, sometimes they are incompatible. I do not think emmanuels style and likica's style are too compatible. Emmanuel won't short into a Wide range bar for example if there is a TMS setup, or won't short on a rising mbl if there is a tms setup where on occasion I have seen likica do. Both are profitable traders, but you could post the exact same setup in each of their threads and receive totally different feedback, some of which might be contradictory to the other. Who is right? Who is wrong? ....both are profitable traders ....

I have faced this dilema before when asking for advice. Like one profitable trader says it's ok to trade during Asian session, but another one comes in and tells you it's not alright, a third one comes in and tells you it's ok to trade Asian session but only yen pairs, a forth one comes in to tell you it's only ok to trade for small profit targets only during Asian session. If you post your Asian session chart to them one will tell you you shouldn't have traded and that's why you lost, another will tell you that you were trading eur/usd and should have been trading eur/jpy or another yen pair and that's why you lost, another will tell you your profit target was too big for that time of day and that's why you lost, one tells you ..you were just unlucky and no trading system is 100% and that's why you lost.

what does a learning trader do in such situations?

Having thought about it a lot, whilst I appreciate the advises of all traders who try and help I think the best thing to do is base your trading style on one trader ...but take all of their advises, but if their advice contradicts the advice of the trader you are basing your trading style on ...you will have to say so.

overall, very good advice I have been given in general guys and I appreciate it, it's just trying to find that right balance.
  • #15,118
  • Aug 2, 2016 5:10am Aug 2, 2016 5:10am
which reminds me, the pcrf/likica setup that i took yesterday at 1:2 RR and forgot to post

eur/nzd

the pcrf candle comes in and creates divergance with price and tdi, whilst the mbl is around the 32
by time the 3 candels needed to complete the pcrf are formed it is around 1 and a half hours before FO. I have seen likica take trades at this time so figured it is safe trade. Only thing worrying is that it looks like tdi didn't quite cross. decided to wait for another cross to get, luckily it came. so i took it. was fully aware of the trendline above but when i Looked through my pcrf pdf that phx or someone else compiled It appeared like he was not taking note of these likica style trendlines so in this instance I decided not to. I take the trade and on the next candle the big blue apb forms and crosses the trendline. now it is looking like a classic likica counter trade and I am more confident of success. Initially I thought the s38 was acting as support for the trade ....but now im not so sure after what likica said about it yesterday.

overall, a nice trade with twice as much profit as risk, but will need to trial out some more.

setup in bullet points

- a pcrf setup which has created divergence
- tdi cross needed to initiate trade
- mbl must be by the 32 level
-stocs is not used in my pcrf pfd
- did not consider above trendline due to not seeing them considered in the pdf

[setup became a likica setup only after the blue apb closed above the trendline, but by this point if you had entered here you would not have been able to get good RR cause ATR was too far gone]
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  • #15,119
  • Aug 2, 2016 5:24am Aug 2, 2016 5:24am
Quoting kain775
{quote} Hi, thanks for the feedback, the overbought comment is probably an area I may have been slipping up slightly on trades. I have heard it mentioned that when stocs is overbought we are in a strong trend, but obviously in that case on my chart we were not in a bullish trend yet, but because i've heard it mentioned so much in tms threads that stocs overbought = strong trend ...i guess it got put to the back of my mind the other meaning of stocs overbought which is that it's overbought and people are likely to stop buying soon. As we were not...
Some of the points you made are very good. Although my pivot line is 10 pips further down from you whether in trending markets or ranging I have to use those as support or what else do we use?? All I will say though is that you had slight divergence as you said and price had already gone up from the second point that does not mean it will carry on going up so I would say the divergence was "spent" which would make me more likely not to go in.
Success means going from failure to failure without loss of enthusiasm
  • #15,120
  • Aug 2, 2016 5:36am Aug 2, 2016 5:36am
Quoting lisat
{quote}Some of the points you made are very good. Although my pivot line is 10 pips further down from you whether in trending markets or ranging I have to use those as support or what else do we use?? All I will say though is that you had slight divergence as you said and price had already gone up from the second point that does not mean it will carry on going up so I would say the divergence was "spent" which would make me more likely not to go in.

I was trying to copy a likica setup where a support comes in with the divergence, price is now at the low, then you get a "high" then a perceived lower high and then a mbl cross after. I say perceived lower high because unless price goes through the first high you cannot offically yet call that a lower high, but the tdi cross above mbl and nice blue abp added weight to the notion what I was seeing was a perceived lower high as at the time it looked like to me price may go higher.

i was not trading directly off the divergence, my reasons for entering the trade was the high, and perceived higher low [with tdi and mbl cross] after the divergance
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