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TMS for M30 charts

  • #15,261
  • Aug 10, 2016 7:29am Aug 10, 2016 7:29am
Quoting heispark
Gold could give some opportunity..... waiting for 'conviction'. {image}
Outside bar and breaking the trend line was the conviction.... +50 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-08-10_23-27-08.png Size: 31 KB
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #15,262
  • Aug 10, 2016 7:59am Aug 10, 2016 7:59am
Quoting heispark
{quote} Outside bar and breaking the trend line was the conviction.... +50 pips. {image}
Beautiful shot

Quoting Lookleft
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. {image}
good trading LL
Appreciation is the key to wealth and happiness
  • #15,263
  • Aug 10, 2016 8:03am Aug 10, 2016 8:03am
GU div off SR
Attached Image (click to enlarge)
Click to Enlarge Name: 10.8.16 GU M30 DIV S@NY +50.png Size: 59 KB
Appreciation is the key to wealth and happiness
  • #15,264
  • Aug 10, 2016 8:31am Aug 10, 2016 8:31am
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}
Lost on this one.
  • #15,265
  • Aug 10, 2016 8:54am Aug 10, 2016 8:54am
Quoting likica
GU div off SR {image}
Nice trade . I also took the same.
Attached Image (click to enlarge)
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  • #15,266
  • Aug 10, 2016 10:44am Aug 10, 2016 10:44am
Quoting likica
GU div off SR {image}


hi,

few questions for this trade.

1)did you use the 200 ema for your support? If so price closed through it on the second swing, is this ok for price to close through it?
2) you shorted without an outside bearish bar first [like you were recommending in the last post to me], I am guessing because you already saw bears in the previous swing?
3) you shorted and there was no bearish apb on h1 before your short, and i cannot see any multi resistance there to back up your trade, why did you short so early
4) also if you look at where price says yesterdays low ...shouldn't there be a trendline drawn from there to the next swing level that is blocking your trades path to short??
  • #15,267
  • Aug 10, 2016 11:59am Aug 10, 2016 11:59am
Quoting kain775
{quote} hi, few questions for this trade. 1)did you use the 200 ema for your support? If so price closed through it on the second swing, is this ok for price to close through it? 2) you shorted without an outside bearish bar first [like you were recommending in the last post to me], I am guessing because you already saw bears in the previous swing? 3) you shorted and there was no bearish apb on h1 before your short, and i cannot see any multi resistance there to back up your trade, why did you short so early 4) also if you look at where price says...
Hi, this is my view on the trade concerning above questions;

Of course the 200EMA is a resistance, but also look at the grey box painted at the top of the chart. Meaning a former resistance area and PA (bulls) were not able to maintain that level. Confirmed with the div showing by the drawings.
A more safe entry would be on the close of the first bearish APB, but as we all know likica is an experienced trader who can almost feel the market in the trigger finger. And if you draw a trend line on the higher lows of the uptrend, you will see that the entry (more safe on close of first bearish APB) is just on/below that trend line.

Nice set up and trade!

Wes.
  • #15,268
  • Aug 10, 2016 8:04pm Aug 10, 2016 8:04pm
Will anyone post a fail trade?that‘s what more worth to learn.
  • #15,269
  • Aug 10, 2016 10:30pm Aug 10, 2016 10:30pm
this's devarange good likica
Attached Image (click to enlarge)
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  • #15,270
  • Aug 10, 2016 10:32pm Aug 10, 2016 10:32pm
Quoting likica
GU div off SR {image}
Thank you for posting this trade Likica... this is like a text book trade below(copied from the page 1 example), except this one is short.
Great example to learn!

http://www.forexfactory.com/attachme...1&d=1462423553
  • #15,271
  • Aug 10, 2016 10:47pm Aug 10, 2016 10:47pm
Quoting kain775
{quote} hi, few questions for this trade. 1)did you use the 200 ema for your support? If so price closed through it on the second swing, is this ok for price to close through it? 2) you shorted without an outside bearish bar first [like you were recommending in the last post to me], I am guessing because you already saw bears in the previous swing? 3) you shorted and there was no bearish apb on h1 before your short, and i cannot see any multi resistance there to back up your trade, why did you short so early 4) also if you look at where price says...
I think, all we have to do is keep page 1 trade example pictures with explanation, in front of us and try to identify exact set-ups. Take trades if we see the same set-up without analyzing too much
It prevents us from over analysis and makes it simple. As someone said "over analysis leads to paralysis".
Wish you good luck
  • #15,272
  • Edited Aug 11, 2016 1:25am Aug 10, 2016 11:26pm | Edited Aug 11, 2016 1:25am
jpy BANK HOLIDAY

i check other pair

how do you think euruad
divergenge for short
3 top not break trenline orange
and price close below DOL


update

the market making fu of me


and the pair on holiday move without mee
example EJ
Attached Image(s) (click to enlarge)
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  • #15,273
  • Edited 12:15am Aug 11, 2016 12:02am | Edited 12:15am
Quoting Kallap
{quote} I think, all we have to do is keep page 1 trade example pictures with explanation, in front of us and try to identify exact set-ups. Take trades if we see the same set-up without analyzing too much It prevents us from over analysis and makes it simple. As someone said "over analysis leads to paralysis". Wish you good luck
hi,

the trade likica took looks like a different setup to the page 1 example you highlighted.

for one, it looks like a support may have been used here whereas in the page 1 example i cannot see a support used. Also no outside bar here, outside bar is used in your example. Also there is trendline in the page 1 example and none here, so my question regarding trendline placement for this trade is a good one.


And Analysis and reflection is needed imo. Sometimes we may think we are taking a correct setup, but have unwittingly left out some small detail or overlooked something.
  • #15,274
  • Aug 11, 2016 1:04am Aug 11, 2016 1:04am
eur/cad m30


used minimal lots for this one as i wasn't sure.
trade won. Not sure if i was just lucky or my price action reading skills have improved a little bit.
will look out for this setup in the future and see if it works again.


- double tops at yesterday high
- when i looked left a lot i saw that the pivot worked before
- after the big pin bar bulls looked weak [small apb's]
- price then dipped below pivot and weak bull apb's tested the pivot and was rejected
- tdi crossed below the mbl, we had a bearish apb on h1 so i shorted
Attached Image (click to enlarge)
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  • #15,275
  • Aug 11, 2016 1:26am Aug 11, 2016 1:26am
Quoting kain775
{quote} hi, few questions for this trade. 1)did you use the 200 ema for your support? If so price closed through it on the second swing, is this ok for price to close through it? 2) you shorted without an outside bearish bar first [like you were recommending in the last post to me], I am guessing because you already saw bears in the previous swing? 3) you shorted and there was no bearish apb on h1 before your short, and i cannot see any multi resistance there to back up your trade, why did you short so early 4) also if you look at where price says...
Hi Kain,

Just a simple answer to all 4 questions of yours: this is not a counter trend trade (you must be clear a different between counter trend and with trend, if not, pls give yourself time to visit babypips.com for basics) so it was a very simple trade that when price retraced to an s/r and created a divergence (make sure TDI and stoc are not in O/B or O/S) then get in. Pls also note that I don't rely on any EMA for my S/R if it was not 1st touch, therefore, price closed a bit above or below (in this case) had nothing to do with my decision, it was based on S/R zone , yes Wes gave you a good answer

Asking to find out what you didn't know is good, however, what I found is spending time to study old chart and practise will get you experience and build your confidence. Of course, my way is not the only way to bag greenies, but without solid basics is like you have no good foundation.

Happy pipping to all!
Appreciation is the key to wealth and happiness
  • #15,276
  • Aug 11, 2016 2:07am Aug 11, 2016 2:07am
Quoting likica
{quote} Hi Kain, Just a simple answer to all 4 questions of yours: this is not a counter trend trade (you must be clear a different between counter trend and with trend, if not, pls give yourself time to visit babypips.com for basics) so it was a very simple trade that when price retraced to an s/r and created a divergence (make sure TDI and stoc are not in O/B or O/S) then get in. Pls also note that I don't rely on any EMA for my S/R if it was not 1st touch, therefore, price closed a bit above or below (in this case) had nothing to do with my decision,...

ok, thanks for the explanation and also to wes.
normally i can tell the difference between with-trend and counter trend, i think that was just an oversight

believe it or not, i do actually study a fair amount
there were times in june and july where i spent 10 hours + a day doing just that.
I also make a lot of notes.
I even have a folder in my desktop with your name on it, with various trades/setups you have taken which I often go over.
Space on my desktop is limited, not every one gets a folder there. Most people get no folder. Some have to share a folder, but you have your own folder. I hope you are pleased haha.
sometimes though, I find I misinterpret things you are doing, or something might go over my head.
but i am pleased with the progress I have made in these last few months. more recently I am trying to trade this demo account like it is a real account meaning I only put full lots on the trades that I am most confident in, and if i'm not sure only put like 0.01 lots ...until i trade it enough times and it looks like it's winning and im doing things right.
  • #15,277
  • Aug 11, 2016 2:18am Aug 11, 2016 2:18am
Quoting kain775
{quote} ok, thanks for the explanation and also to wes. normally i can tell the difference between with-trend and counter trend, i think that was just an oversight believe it or not, i do actually study a fair amount there were times in june and july where i spent 10 hours + a day doing just that. I also make a lot of notes. I even have a folder in my desktop with your name on it, with various trades/setups you have taken which I often go over. Space on my desktop is limited, not every one gets a folder there. Most people get no folder. Some...
I am pleased with your progress and because you have my name on your folder just kidding.
Don't worry, you will get there, everyone makes mistake incl me.
Here is my AU short entered yesterday, I got too excited with pin bars rejected at R61% and got in without second thought, even when it went against me. Will you learn from my mistakes? if yes, what will they be from that failed trade?
Attached Image (click to enlarge)
Click to Enlarge Name: 10.8.16 AU DIV -.png Size: 58 KB
Appreciation is the key to wealth and happiness
  • #15,278
  • Aug 11, 2016 2:48am Aug 11, 2016 2:48am
Quoting likica
{quote} I am pleased with your progress and because you have my name on your folder just kidding. Don't worry, you will get there, everyone makes mistake incl me. Here is my AU short entered yesterday, I got too excited with pin bars rejected at R61% and got in without second thought, even when it went against me. Will you learn from my mistakes? if yes, what will they be from that failed trade? {image}

well in your favor you had the R61 which had led to a previous swing from price where i look left a lot. you also had the BRN as resistance. the pinbars looked encouraging too. there was an outside bearish bar too. however you did have some big bullish apb's just before you and tdi was still pretty high up, i am not sure if it had dropped below 68, i know it likes to repaint sometimes if the bar after the signal bar suddenly rises up ..which might have happened in this case. I would say better to wait for more bears and tdi to cross under the mbl as bulls was so strong?

I am not sure.
I only seem to get currently get winnings trades when trying to go in early if there is a pcrf setup present
  • #15,279
  • Aug 11, 2016 4:04am Aug 11, 2016 4:04am
Quoting likica
{quote} I am pleased with your progress and because you have my name on your folder just kidding. Don't worry, you will get there, everyone makes mistake incl me. Here is my AU short entered yesterday, I got too excited with pin bars rejected at R61% and got in without second thought, even when it went against me. Will you learn from my mistakes? if yes, what will they be from that failed trade? {image}

Another thing is that thanks to seeing mistakes from time to time we can develop the right attitude that not always we will be right, that there will be some mistakes, lost trades, etc.. but at the end of the day it's perfectly normal, as long as we have more winners
  • #15,280
  • Aug 11, 2016 5:24am Aug 11, 2016 5:24am
Quoting likica
{quote} I am pleased with your progress and because you have my name on your folder just kidding. Don't worry, you will get there, everyone makes mistake incl me. Here is my AU short entered yesterday, I got too excited with pin bars rejected at R61% and got in without second thought, even when it went against me. Will you learn from my mistakes? if yes, what will they be from that failed trade? {image}
Hi, LK. Just curious, why didn't you cut your loss at the top of that pin bar?
Simplicity is the ultimate sophistication - Leonardo da Vinci
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