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TMS for M30 charts

  • #15,241
  • Aug 10, 2016 2:29am Aug 10, 2016 2:29am
Quoting kain775
{quote} Hi, I am using the BRN indicator but i have set my levels to 00 only as I do not see any others using the 25,50,75 for intraday trading. Also the 00 levels are suppose to be the more reliable

for some low volatile pairs, we can look at every 25pips level for price action

example USDCAD below:

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,242
  • Aug 10, 2016 2:42am Aug 10, 2016 2:42am
Quoting emmanuel7788
{quote} for some low volatile pairs, we can look at every 25pips level for price action example USDCAD below: {image}


it's also a pcrf variation.

not classic pcrf because the bar after the high did not close below it's open, but still a valid pcrf setup as the third bar exceeded the second and turned bearish
  • #15,243
  • Aug 10, 2016 2:47am Aug 10, 2016 2:47am
Quoting kain775
{quote} it's also a pcrf variation. not classic pcrf because the bar after the high did not close below it's open, but still a valid pcrf setup as the third bar exceeded the second and turned bearish
in price action trading, its the same in all different tiemframes.
there are 2-bars reversal pattern,
there are 3 bars reversal pattern.
there are 5-bars reversal pattern.
these type of reversal patterns we see very frequently and we pick the best setups at support and resistance.

no need complicated bars and candlestick patterns, far too many. more than our fingers and toes can count.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,244
  • Aug 10, 2016 2:54am Aug 10, 2016 2:54am
Quoting kain775
{quote} had another look at it after your post. maybe i was viewing candles instead of APB's ...because when i look now mine looks the same as likica's. curious though as to what is the procedure with regards to the fib levels. In the system I traded before this one where we drew in fibs manually, if price closed beyond the fib level ...the fib level was now invalid as a support/resistance. I see price has closed beyond the fib level here, but likica has circled it implying it is valid. I guess technically since it is a weekly fib and price has...
I normally look at my chart (not anyone's chart or anyone's Fib levels) how price reacts around what ever level it is at and look left to determine if it's a strong S/R... like GJ is sitting at the level which seems to be strong but bulls are not here yet. No set up atm. Most of the time I draw line manually, BRN helps a lot specially for G's pair reacting strongly around 00 level.

Quoting emmanuel7788
{quote} in price action trading, its the same in all different tiemframes. there are 2-bars reversal pattern, there are 3 bars reversal pattern. there are 5-bars reversal pattern. these type of reversal patterns we see very frequently and we pick the best setups at support and resistance. no need complicated bars and candlestick patterns, far too many. more than our fingers and toes can count.
yeah, seriously, I don't know any of those except 3-bars, my head starts spinning with many things adding up. Thanks for helping, Emman.

Quoting pinux76
{quote} Hi Likica enter late short 10 pip below correct entry candle( because indecision in my mind ) suffered a lot because the price pull back to my entry price price go down but not enough to hit my TP (30 pip calculate for 2 reason 1 up do the DOl and second the average adr was 30 and daily range 90) 30 pips it's enough not to be greedy but came back and i have a loss :-( damn {image}
it touched trend line and bounced back up with a hidden div but facing 200ma and BRN. No trade for me.
Appreciation is the key to wealth and happiness
  • #15,245
  • Aug 10, 2016 3:58am Aug 10, 2016 3:58am
Quoting likica
{quote} I normally look at my chart (not anyone's chart or anyone's Fib levels) how price reacts around what ever level it is at and look left to determine if it's a strong S/R... like GJ is sitting at the level which seems to be strong but bulls are not here yet. No set up atm. Most of the time I draw line manually, BRN helps a lot specially for G's pair reacting strongly around 00 level. {quote} yeah, seriously, I don't know any of those except 3-bars, my head starts spinning with many things adding up. Thanks for helping, Emman. {quote} it touched...

Is there any particular reason for not taking the setup yesterday on the same pair when bulls came in
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  • #15,246
  • Aug 10, 2016 4:12am Aug 10, 2016 4:12am
Quoting kain775
{quote} it's also a pcrf variation. not classic pcrf because the bar after the high did not close below it's open, but still a valid pcrf setup as the third bar exceeded the second and turned bearish
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  • #15,247
  • Edited 4:33am Aug 10, 2016 4:23am | Edited 4:33am
Quoting kain775
{quote} Is there any particular reason for not taking the setup yesterday on the same pair when bulls came in {image}
There was no bulls before that except divergence formed with small body green APB created new low while price kept making lower high lower lows. I would go in if bearish candles were small (to show that bears were weak) and 1st confirmed bull apb were an outside bar with bigger body. Even after bulls came in on 3rd and 4th apb, price was not making higher high. You would not want to be the 1st to be in a trend, would you? unless you wanted to build your positions.
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Appreciation is the key to wealth and happiness
  • #15,248
  • Edited 4:41am Aug 10, 2016 4:26am | Edited 4:41am
Gold could give some opportunity..... waiting for 'conviction'.

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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #15,249
  • Aug 10, 2016 4:40am Aug 10, 2016 4:40am
Quoting likica
{quote} There was no bulls before that except divergence formed with small body green APB created new low while price kept making lower high lower lows. I would go in if bearish candles were small (to show that bears were weak) and 1st confirmed bull apb were an outside bar with bigger body. Even after bulls came in on 3rd and 4th apb, price was not making higher high. You would not want to be the 1st to be in a trend, would you? unless you wanted to build your positions. {image}


yeah, im beginning to realize that large bearish apb's when you want to go long is not a good idea at all....
  • #15,250
  • Aug 10, 2016 4:50am Aug 10, 2016 4:50am
Quoting heispark
Gold could give some opportunity..... waiting for 'conviction'. {image}
are you waiting for a long? looking very bullish but facing ADR high
Appreciation is the key to wealth and happiness
  • #15,251
  • Aug 10, 2016 4:57am Aug 10, 2016 4:57am
Quoting likica
{quote} are you waiting for a long? looking very bullish but facing ADR high
No, short.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #15,252
  • Aug 10, 2016 5:08am Aug 10, 2016 5:08am
Quoting heispark
{quote} No, short.
might not be today...it's crawling around overbought zone
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Appreciation is the key to wealth and happiness
  • #15,253
  • Aug 10, 2016 5:18am Aug 10, 2016 5:18am
Hi Likica, Hi All

Can you please tell us what makes you leave from the trade earlier?
For instance price is approaching S/R, tested already a couple of times, so we don't know if it will hold/break. In that case to leave the trade on this resistance you observe how price is reacting at the first touch? Or would you need to have valid setup in other direction? Or maybe cross of TDI is enough?

Thanks for answer in advance.

Happy pippin as always :nerd:
  • #15,254
  • Aug 10, 2016 5:19am Aug 10, 2016 5:19am
Quoting likica
{quote} Thanks Lisat. Did you get in any trade today? I missed the beautiful move from NU hidden div short {image} {image}
Sorry for the late reply I went away for the weekend as a treat to myself and only came back last night. I did not trade on Friday as I was getting ready so missed all of the signals
Success means going from failure to failure without loss of enthusiasm
  • #15,255
  • Aug 10, 2016 5:23am Aug 10, 2016 5:23am
Quoting jstmzplsz
Hi Likica, Hi All Can you please tell us what makes you leave from the trade earlier? For instance price is approaching S/R, tested already a couple of times, so we don't know if it will hold/break. In that case to leave the trade on this resistance you observe how price is reacting at the first touch? Or would you need to have valid setup in other direction? Or maybe cross of TDI is enough? Thanks for answer in advance. Happy pippin as always :nerd:
which pair/which trade are you referring to?
Appreciation is the key to wealth and happiness
  • #15,256
  • Aug 10, 2016 5:27am Aug 10, 2016 5:27am
Quoting likica
{quote} which pair/which trade are you referring to?

I'm referring to what I encountered today on EC.
Price touched old support and reacted quite fast off it. (Trade opened before that, on trend line break off resistance)
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  • #15,257
  • Aug 10, 2016 5:54am Aug 10, 2016 5:54am
Quoting jstmzplsz
{quote} I'm referring to what I encountered today on EC. Price touched old support and reacted quite fast off it. (Trade opened before that, on trend line break off resistance) {image}
I don't really understand your question, so I m guessing you asked me how would I know if I wanted to exit the trade early if there were a retrace?

Here is my ECAD chart with my marks.
I don't know if price will move down more like what we see when we look left, because oil might form a hidden divergence for a short... after S/R touched, retouched and new low of the day formed, wait for retrace and if a hidden/div formed you could get in which you did.
Drawing trend line help you to decide whether to stay or exit early, or to see if that retrace stops at S/R nearby, not a textbook when discussing about exits as it s flexible depending on PA shows around levels which can be trend line/ fib/ other s/r.
Hope I got it right for you. If not, let me know.
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Appreciation is the key to wealth and happiness
  • #15,258
  • Aug 10, 2016 5:56am Aug 10, 2016 5:56am
hey gays good pip today
skype
saranga.chalith1
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  • #15,259
  • Aug 10, 2016 6:05am Aug 10, 2016 6:05am
Quoting likica
{quote} I don't really understand your question, so I m guessing you asked me how would I know if I wanted to exit the trade early if there were a retrace? Here is my ECAD chart with my marks. I don't know if price will move down more like what we see when we look left, because oil might form a hidden divergence for a short... after S/R touched, retouched and new low of the day formed, wait for retrace and if a hidden/div formed you could get in which you did. Drawing trend line help you to decide whether to stay or exit early, or to see if that...

You got it. Thanks, next lesson learned.
  • #15,260
  • Aug 10, 2016 6:46am Aug 10, 2016 6:46am
Only a small bag.
5 bar reversal following a pin bar. PA rejecting the 101.500 RN area at least 3 times. TDI cross could have been better but was below 50 level. TP set above the 101.00 BRN as there was heavy S/R out West and the MBL had gone flat.
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