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TMS for M30 charts

  • #15,941
  • Oct 15, 2016 8:40am Oct 15, 2016 8:40am
Quoting likica
Case study for those who wish to train their eyes for regular divergence and hidden divergence, be selective to which one to take and which one not to touch {image}
Hi Likica,

Would you discuss how to select good divergence versus bad ones?

Especially why the first two divergences in that graph are bad?

Thank you.
  • #15,942
  • Oct 15, 2016 11:31am Oct 15, 2016 11:31am
Quoting antonym
{quote} Hi Likica, Would you discuss how to select good divergence versus bad ones? Especially why the first two divergences in that graph are bad? Thank you.
It s a case study for you to study and find out...asking before trying to find the answer is not helping...
Here is one of examples which might be a help if you are still struggling with how to...
- 1st setup (counter trend) where price has vol (V shape (retrace).
- 2nd setup (with trend) but price stayed in choppiness.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM30 div + BO of choppiness.png Size: 70 KB
Appreciation is the key to wealth and happiness
  • #15,943
  • Oct 16, 2016 12:16pm Oct 16, 2016 12:16pm
Quoting likica
Case study for those who wish to train their eyes for regular divergence and hidden divergence, be selective to which one to take and which one not to touch {image}


thankyou for the informative chart likica. Some of these trades I may have taken if I had seen them in time but there are some I cannot see why to take them.

I have drawn a blue circle by one setup I am confused about. I see here a divergence followed by a continuation. Also the support [yellow],
I found your other tip useful about waiting for a divergence within a continuation to know you are trading with the trend very useful so thanks for that, ...however in this trade highlighted I see a continuation within a divergence, ....does a continuation within a divergence signify a good setup too??

or is the trade a good one for another reason?


In the yellow trade highlighted are you trying to show 2 divergences?
the trend to me at this point looks down. so i think it would be counter trade but without a bullish outside bar or hh/hl why take the trade???
Attached Image (click to enlarge)
Click to Enlarge Name: training chart EURJPYM30 div off TL edit.png Size: 108 KB
  • #15,944
  • Oct 16, 2016 12:23pm Oct 16, 2016 12:23pm
Quoting likica
{quote} - 1st setup (counter trend) where price has vol (V shape (retrace). - 2nd setup (with trend) but price stayed in choppiness. {image}

hi again.EURCAD. This is counter trade you say, but I see no bullish outside bar here nor do I see hh/hl
can you please clarify why you took this trade without these being present?

I see your line [not a trendine?] being broken and stocs and TDI above 50
is this why you took the trade without bullish outside bar or hh/hl.
  • #15,945
  • Oct 16, 2016 12:43pm Oct 16, 2016 12:43pm
Quoting kain775
{quote} hi again.EURCAD. This is counter trade you say, but I see no bullish outside bar here nor do I see hh/hl can you please clarify why you took this trade without these being present? I see your line [not a trendine?] being broken and stocs and TDI above 50 is this why you took the trade without bullish outside bar or hh/hl.
That line is a trendline as it is tested 6 candles from the second point and rejected.
Success means going from failure to failure without loss of enthusiasm
  • #15,946
  • Oct 16, 2016 1:01pm Oct 16, 2016 1:01pm
Quoting kain775
{quote} hi again.EURCAD. This is counter trade you say, but I see no bullish outside bar here nor do I see hh/hl can you please clarify why you took this trade without these being present? I see your line [not a trendine?] being broken and stocs and TDI above 50 is this why you took the trade without bullish outside bar or hh/hl.
imo, those were good trades with regular divergence and very good tdi crosses. Set up candles have momentum too. Please read the 1st page..Likica never mention that in order to take a trade there must be outside bars and the like. The emphasis is on pa,divergence and good tdi crosses..am I right L?
the cautious seldom err....C
  • #15,947
  • Edited 1:28pm Oct 16, 2016 1:03pm | Edited 1:28pm
Quoting kain775
{quote} thankyou for the informative chart likica. Some of these trades I may have taken if I had seen them in time but there are some I cannot see why to take them. I have drawn a blue circle by one setup I am confused about. I see here a divergence followed by a continuation. Also the support [yellow], I found your other tip useful about waiting for a divergence within a continuation to know you are trading with the trend very useful so thanks for that, ...however in this trade highlighted I see a continuation within a...
I like this thread, but sometimes i think (and also in other threads the same) people start to overcomplex simple things. Really complex is to understand that it is not much complex to trade, if you get this point.

Attached Image (click to enlarge)
Click to Enlarge Name: training chart EURJPYM30 div off TL edit.png Size: 124 KB


Waiting is clever.
Perfection is the enemy of good enough!
  • #15,948
  • Oct 16, 2016 2:00pm Oct 16, 2016 2:00pm
Quoting lisat
{quote}That line is a trendline as it is tested 6 candles from the second point and rejected.

hi lisat, if you look carefully at the line likica has drawn it is touching two candels. Likica and babypips [I went back there] says that a trendline is valid with 3 touches. Likica sometimes draws lines with two touches to show choppiness I think.
  • #15,949
  • Oct 16, 2016 2:08pm Oct 16, 2016 2:08pm
Quoting pips29
{quote} imo, those were good trades with regular divergence and very good tdi crosses. Set up candles have momentum too. Please read the 1st page..Likica never mention that in order to take a trade there must be outside bars and the like. The emphasis is on pa,divergence and good tdi crosses..am I right L?

hi pips

on the divergence examples on the first page there are outside bars present. Likica also mentioned this was a counter trade.

It is my understanding that to take divergence setups you need either an outside bar ....or price stepping in your desired direction, eg: div at resistance then price makes hl,lh,ll with tdi cross under the yellow line and 50

it is my understanding that divergence setups can be taken without all that stuff if the setup is with the trend, likica says that the trade was counter trade so that is why I asked her what I did.
  • #15,950
  • Oct 16, 2016 2:12pm Oct 16, 2016 2:12pm
Quoting kain775
{quote} hi lisat, if you look carefully at the line likica has drawn it is touching two candels. Likica and babypips [I went back there] says that a trendline is valid with 3 touches. Likica sometimes draws lines with two touches to show choppiness I think.
As quoted by babypips: It takes at least two tops or bottoms to draw a valid trend line but it takes THREE to confirm a trend line. which is what that shows, two tops which is where the points are and then the third touch confirms it 6 candles from the second point.
Success means going from failure to failure without loss of enthusiasm
  • #15,951
  • Oct 16, 2016 2:20pm Oct 16, 2016 2:20pm
Quoting lisat
{quote} and then the third touch confirms it 6 candles from the second point.

The bearish engulfing bar right?

I have good eye's, and if i look carefully that bar is not touching likica's line.
  • #15,952
  • Oct 16, 2016 2:28pm Oct 16, 2016 2:28pm
Quoting kain775
{quote} The bearish engulfing bar right? I have good eye's, and if i look carefully that bar is not touching likica's line.
there is about 0.25 of a pip in it so I think it would probably qualify
Success means going from failure to failure without loss of enthusiasm
  • #15,953
  • Oct 17, 2016 12:58am Oct 17, 2016 12:58am
Quoting TheScorpS
{quote} Good one manoj, I took it too only later after LO open candle closed This week trades below, have a good weekend everyone {image}
I was just comparing my trades with yours and Interestingly found that we have almost same trades last week except 2nd trade which I didnt take as per my trade plan(price did not closed below 200ema).
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 74 KB
  • #15,954
  • Oct 17, 2016 1:15am Oct 17, 2016 1:15am
Good Morning Friends,
My plan for EURAUD H1: Looking for retest on POI area and candle pattern on that area if any weakness I try to enter and manage the trade if price fail to retest POI area leave it and move on to next pair.
EURAUD H1:
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-10-17_11-30-31 EURAUD H1.png Size: 104 KB

Thank You.
$
Newbie
  • #15,955
  • Oct 17, 2016 7:25am Oct 17, 2016 7:25am
Thanks to all who contributed your thoughts to the case study on EJ chart I posted. They are very good and helpful to us all who as we can see other traders' perspectives to improve...

My way is not the only way to bag green pips, so there's no 100% right or wrong here.

I marked all setups that appeared on that chart, I didn't say I took them all, just for the purpose of reminding you to be more selective on your entries (for any pairs) when price bounces off a strong S/R and has good structure, the set up will give you a nice bag. By study that chart, again, you then have some good ideas which one is the good set up and which one you should stay out. If you only focus on a breakout or just an outside bar without looking at location, you might end with half bag since the move not strong enough. In addition, entries are important, however, exits are more important. To make it simple, only get in/get out when price @ S/R.

Patience (discipline) will be paid nicely.
GCAD hidden div off S/R today... for +55
Attached Image (click to enlarge)
Click to Enlarge Name: 17.10.16 Mon GBPCADM30 HD S@6.18 A EST +55+.png Size: 73 KB
Appreciation is the key to wealth and happiness
  • #15,956
  • Oct 17, 2016 7:47am Oct 17, 2016 7:47am
Quoting MichaelSch
{quote} I like this thread, but sometimes i think (and also in other threads the same) people start to overcomplex simple things. Really complex is to understand that it is not much complex to trade, if you get this point. {image} Waiting is clever.
Yeah, to get to that state (simple thing) we (human) tend (have to experience) to explore ourself to all sorts of ideas/ methods ( I call that creativeness), seem like we must do that to satisfy our curiosity or we thought we didn't work hard enough . Bottom line is don't stop them to explore ( I/you just can't), one day (if they don't give up on the way) they (who have not) will reach the level called 'simple thing'.
Appreciation is the key to wealth and happiness
  • #15,957
  • Oct 17, 2016 8:17am Oct 17, 2016 8:17am
Quoting likica
Thanks to all who contributed your thoughts to the case study on EJ chart I posted. They are very good and helpful to us all who as we can see other traders' perspectives to improve... My way is not the only way to bag green pips, so there's no 100% right or wrong here. I marked all setups that appeared on that chart, I didn't say I took them all, just for the purpose of reminding you to be more selective on your entries (for any pairs) when price bounces off a strong S/R and has good structure, the set up will give you a nice bag. By study that...
This has to be very important , entries are fine especially when theres a valid setup, then comes the hardest part, exit which is even more important , would like to quate this important part

"Exits are more important. To make it simple, only get in/get out when price @ S/R. "
I Have Learned to Take Some Losses to Make Profits
  • #15,958
  • Oct 17, 2016 5:15pm Oct 17, 2016 5:15pm
Asian session trade gbpnzd m30

resistance @ BRN and trendline
small bearish outside bar present @ resistance too
hidden div was present



[on a side note it does not look like i will be able to trade London for the next month as I have to attend a course ..,]
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd off trendline and brn also ob there and hidden div.png Size: 33 KB
  • #15,959
  • Oct 17, 2016 6:11pm Oct 17, 2016 6:11pm
Quoting kain775
Asian session trade gbpnzd m30 resistance @ BRN and trendline small bearish outside bar present @ resistance too hidden div was present [on a side note it does not look like i will be able to trade London for the next month as I have to attend a course ..,] {image}
Same for me, +70 GN

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 59 KB
  • #15,960
  • Oct 17, 2016 6:13pm Oct 17, 2016 6:13pm
Same story in EN +50

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 59 KB
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