{quote} Thanks for the talk, this time I'll remember that. Did you have a chance to look at my latest trading plan? What do you think of my entry statement?
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Personally I think it might be too vague. The H1 and H2 ROMAR are support, but in your entry you don't mention them. Does that mean you would short with Purple/EMA crossing when market is above ROMAR? The more clear you are in your plan, the more clear your entry point will be.
{quote} Thanks for the talk, this time I'll remember that. Did you have a chance to look at my latest trading plan? What do you think of my entry statement?
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What I look for on my point of entry is that my SL is safe behind a wall of support on a long and a wall of resistance on a short and no obstacles (there are exceptions like in posts 2951 and 4592 for example) on my way to TP.
{quote} What I look for on my point of entry is that my SL is safe behind a wall of support on a long and a wall of resistance on a short and no (or not too much in some circumstances) obstacles on my way to TP.
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Good advice - I'll be doing the same Thanks
After looking over this situation, I will probably wait for Monday to continue. There will probably not be much movement until after Yellens speech and then it'll be too late for me to get into a trade.
{quote} Good advice - I'll be doing the same Thanks After looking over this situation, I will probably wait for Monday to continue. There will probably not be much movement until after Yellens speech and then it'll be too late for me to get into a trade.
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Yeah, I think I would do the same if I was looking for a trade today, but I'm still in one from yesterday. Currently we have the red EMA arrow locked in on H2 and a bottom SAR attachment with no PSAR flip. Also MACD arrow down and PSAR close to EMA. I think it still can go up with ROMAR, EMA and PSAR all on the same side.
{quote} Yeah, I think I would do the same if I was looking for a trade today, but I'm still in one from yesterday. Currently we have the red EMA arrow locked in on H2 and a bottom SAR attachment with no PSAR flip. Also MACD arrow down and PSAR close to EMA. I think it still can go up with ROMAR, EMA and PSAR all on the same side.
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I hope you get the move, but it's only about 4 hours to HIGH impact news.
{quote} I hope you get the move, but it's only about 4 hours to HIGH impact news.
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Yes, I'm out of the trade right now with a loss of 6 pips. So this week I made 4 trading plans and only one time I was able to execute what I had written on my plan, which was yesterday. Unfortunately it didn't make it to my TP of 20 pips, which I thought was very well possible at the time of entry. For me it's a reason to work even harder on my trading plans so next week I will do better. Also I hope there will be a bit more volatility so there will be more trading opportunities.
Hi all
Thank you Mr. Dove for your system.
certainly this system is a winner , but someone who has participated in this thread to understand fully this system ? thank you
EURJPY
Date: 2016-08-29 2000 NY time
News for USD EUR JPY: 1930 local
Daily:
ROMAR: R DN
EMA: S UP
PSAR: S UP
Last MACD 0 crossing: UP - before EMA arrow
Last EMA Alert Arrow: UP
Last DB Attachment: 114.282 T
Last SAR Attachment: 114.282 T
Fibo up or down: UP
Notes: W,S,EMA below P, SAR, DB and Magenta are connected to this bar
1HR: Open Price: 114.029
ROMAR: S UP
EMA: S UP
PSAR: S UP
Last MACD 0 crossing: UP decreasing
Last EMA Alert Arrow: UP
Fibo up or down: DN
Notes: 4H upward, W is at P
2HR: Average Bar:
ROMAR: S UP
EMA: S UP
PSAR: S UP
Last MACD 0 crossing: UP
Last EMA Alert Arrow: UP
Last DB Attachment: 114.282 T
Last SAR Attachment: 114.282 T
Fibo up or down: DN
Notes: 4H upward, DB, SAR and Magenta are connected to last bar
Notes for all 3 charts: Daily ROMAR is holding consolidation, H1 and H2 are in sync with H1 W at P.
Entry: “No trade is better than a lost trade" In the moment, H1 and H2 Fibo's are down but market has been in a strong uptrend. H2 dosen't have Green divergence yet and I expect uptrend to continue. With H1 W at P we could see some consolidation before uptrend continues. I'll wait to see if H1 W crossed P, if sliding look for retrace to enter long. If H1 crossed P sharper, then wait for deeper retrace to enter long. If the market turns to go down I will not enter.
Daily:
ROMAR - Resistance
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - up after macd up
Last DB Attachment - 112.303 bottom
Fibo up or down - Up
Notes: clean uptrend into ROMAR resistance
2 HR:
OPEN PRICE - 114.409
ROMAR - support
EMA - support
PSAR - Support
Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - Up before MACD arrow
Last DB Attachment - DB: 113.141 bottom and SAR: 113.197 bottom
Fibo up or down - down
Notes: all horsemen moving up and ROMAR moving up. DB/SAR attached together meaning we're looking to find a top.
1 HR:
ROMAR - support
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - Up before MACD up
Fibo up or down - Up
Notes: horsemen and ROMAR in uptrend
Entry:
Consolidation:
Long: as we are in a full uptrend I'll be looking for a long at support from the 2 hour. ideally we'll first see some consolidation where the 1 hour turns with purple / white and then turns again up where I would long with an opening above smooth.
Short: the 2 horsemen turning around with a PSAR flip to resistance
Daily:
ROMAR - Resistance
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - Up after MACD up with Red arrow in between
Last DB Attachment - 114.677
Fibo up or down - Up
Notes: Daily is up with 4 horsemen aligned, 70 pips above Purple support, 80 pips below ROMAR resistance.
2 HR:
OPEN PRICE - 114.626
ROMAR - Support
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - Up before MACD up
Last DB Attachment - 114.677
Fibo up or down - Down
Notes: Strong uptrend with 4 horsemen aligned. Market is at the top of Fibo and has already travelled 100+ pips up and above Purple.
1 HR:
ROMAR - Support
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - Up
Last DB Attachment - n/a
Fibo up or down - Down
Notes: Strong uptrend with 4 horsemen aligned. Market is at the top of Fibo and has already travelled 100+ pips up and above Purple.
Final Notes for all three charts: The trend is up with only support being Daily ROMAR and that could very well be what we are heading to. So far no weakness as there haven't been a lot of retraces in this uptrend.
Entry:
Consolidation:
Long: With H1 and H2 horsemen nicely seperated from each other the uptrend is strong. I'm always having difficulties entering in a trend, since it can turn at any time and the market already travelled 100+ pips. But on the other hand the indicators are telling the uptrend is still heavy and in, so I will enter on the first H2 support.
Short: Will pay attention to short when H1 PSAR flips, but it's unlikely there will be a short opportunity today.
Notes for readjustments: 11.30 GMT - On 1 hour EMA red arrow and MACD arrow confirmed. Also the PSAR flipped, but not yet confirmed. For a short I now will look for a red EMA arrow on the 2 hour as an entry point. For a long I will wait for the turn with White crossing Purple on the 1 hour and look on from there.
EURJPY Date: 2016-08-29 2000 NY time News for USD EUR JPY: 1930 local Daily: ROMAR: R DN EMA: S UP PSAR: S UP Last MACD 0 crossing: UP - before EMA arrow Last EMA Alert Arrow: UP Last DB Attachment: 114.282 T Last SAR Attachment: 114.282 T Fibo up or down: UP Notes: W,S,EMA below P, SAR, DB and Magenta are connected to this bar 1HR: Open Price: 114.029 ROMAR: S UP EMA: S UP PSAR: S UP Last MACD 0 crossing: UP decreasing Last EMA Alert Arrow: UP Fibo up or down: DN Notes: 4H upward, W is at P 2HR: Average Bar: ROMAR: S UP EMA: S UP PSAR: S UP Last...
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did you take a long position?
as elflaco mentioned there I also find it hard in this situation when to enter long. one could for example long at purple to only then see the market fully turn around.
{quote} did you take a long position? as elflaco mentioned there I also find it hard in this situation when to enter long. one could for example long at purple to only then see the market fully turn around.
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I have the same problem. I entered long at the open of the present bar at 114.403. I hope that I didn't pull the trigger too early.
To me, this looks like the retrace that Dana talked about while discussing the divergences. Maybe the green divergence will attach at 114.677 2 bars back and end at a bar at a higher level in the near future.
To me, this looks like the retrace that Dana talked about while discussing the divergences. Maybe the green divergence will attach at 114.677 2 bars back and end at a bar at a higher level in the near future.
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Yes, we have to wait and see. With the red EMA arrow and negative MACD arrow confirmed on the 1 hour it could very well turn. On the other hand the 1 hour could swing up again and create a new set of momentum for the long. Then there would be room to the Fibo 0.0, because entering at H2 Purple support near the Fibo 0.0, as stated in my daily plan, is something I'm not very comfortable with.
Good morning fellow traders, Here is my trading plan for the new week. Date: 29-08-2016 - 6.00 GMT Daily: ROMAR - Resistance EMA - Support PSAR - Support Check List: Last MACD 0 crossing - Up Last EMA Alert Arrow - Up after MACD up with Red arrow in between Last DB Attachment - 114.677 Fibo up or down - Up Notes: Daily is up with 4 horsemen aligned, 70 pips above Purple support, 80 pips below ROMAR resistance. 2 HR: OPEN PRICE - 114.626 ROMAR - Support EMA - Support PSAR - Support Check List: Last MACD 0 crossing - Up Last EMA Alert Arrow - Up before...
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Followed my plan by going short at red EMA arrow, which is confirmed with the 18.00 GMT open candle. Not sure if I should go for 40/40, because the last 5 H2 candles are not really volatile, but we'll see how it goes. Exit is above H2 ROMAR support and at Daily Purple support.
EURJPY
Date: 2016-08-30 2000 NY time
News for USD EUR JPY: MED today
Daily:
ROMAR: R DN
EMA: S UP
PSAR: S UP
Last MACD 0 crossing: UP - before EMA arrow
Last EMA Alert Arrow: UP
Last DB Attachment: 114.677 T
Last SAR Attachment: 114.677 T
Fibo up or down: UP
Notes: W,S,EMA below P, SAR, DB and Magenta are attached to this bar
1HR: Open Price: 113.999
ROMAR: S UP
EMA: R DN
PSAR: R DN
Last MACD 0 crossing: DN
Last EMA Alert Arrow: DN
Fibo up or down: DN
Notes: 4H downward, market is at ROMAR
2HR: Average Bar:
ROMAR: S UP
EMA: R DN
PSAR: R DN
Last MACD 0 crossing: DN
Last EMA Alert Arrow: DN same bar
Last DB Attachment: 113.839 B
Last SAR Attachment: 113.839 B
Fibo up or down: DN
Notes: 4H downward, DB, SAR and LightSkyBlue are attached to this bar
Notes for all 3 charts: Consolidation, H1 and H2 have been going down for over 80 pips, also, H1 is at ROMAR and H2 ROMAR is near, below at 61.8 Fibo
Entry: “No trade is better than a lost trade" In the moment, If H1 W crosses P enter long at open above Smooth. If H1 and H2 ROMARs cross EMA enter short on retrace to first resistance.
I closed my trade from yesterday manually with +0, since the momentum for short seems to be over and in hindsight a TP of 40 was maybe a bit too much. Price bounced of Daily Purple today and the 1 hour has already turned for a long with the PSAR flip. I will wait for the green EMA arrow to appear and being confirmed on the 2 hour to go long, because then everything would be set up the right way, but the 1 hour has to be in sync still. A short entry at this time is not an option being so close above H1/H2 ROMAR support and Daily support.
EURJPY Date: 2016-08-30 2000 NY time News for USD EUR JPY: MED today Daily: ROMAR: R DN EMA: S UP PSAR: S UP Last MACD 0 crossing: UP - before EMA arrow Last EMA Alert Arrow: UP Last DB Attachment: 114.677 T Last SAR Attachment: 114.677 T Fibo up or down: UP Notes: W,S,EMA below P, SAR, DB and Magenta are attached to this bar 1HR: Open Price: 113.999 ROMAR: S UP EMA: R DN PSAR: R DN Last MACD 0 crossing: DN Last EMA Alert Arrow: DN Fibo up or down: DN Notes: 4H downward, market is at ROMAR 2HR: Average Bar: ROMAR: S UP EMA: R DN PSAR: R DN Last...
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I entered long as per trade plan a couple of bars back on H2. Not as low as I would like but hind sight is always better. I'l just wait and see.
Daily:
ROMAR - Resistance
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - up after macd up
Last DB Attachment - 112.303 bottom
Fibo up or down - Up
Notes: clean uptrend into ROMAR resistance
2 HR:
OPEN PRICE - 114.045
ROMAR - support
EMA - resistance
PSAR - resistance
Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - Up before MACD arrow
Last DB Attachment - DB: 113.839
Fibo up or down - down
Notes: all horsemen moving up and ROMAR moving up. DB at the bottom close to ROMAR so I think we have found the bottom and the next target will be higher.
1 HR:
ROMAR - support
EMA - Support
PSAR - resistance
Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - Up
Fibo up or down - down
Notes: horsemen and ROMAR in uptrend
Entry:
Consolidation:
Long: P/W cross with opening above smooth / EMA with 1H in uptrend. I might enter the next 2H candle as it looks like the 1H will have a PSAR flip.
Short: a full blown downtrend with the horsemen where purple crosses ROMAR on the 1 hour. on the 2 hour the PSARs would stay on being resistance and having a P/W cross with an opening below purple
{quote} I entered long as per trade plan a couple of bars back on H2. Not as low as I would like but hind sight is always better. I'l just wait and see.
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did you long at the candle opening at 114.192?
I just made my plan but it indeed looks like a good long there. I might enter the next candle
