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A very simple system - trade with arrow

  • #981
  • Oct 21, 2016 8:44am Oct 21, 2016 8:44am
took profit a bit too early. Target would have been hit if the trade was left aside...anyway...took a loss with oil as data from Canada was not good
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the cautious seldom err....C
  • #982
  • Edited 9:08am Oct 21, 2016 8:49am | Edited 9:08am
Quoting antonym
{quote} Sir, would you discuss the reasoning behind this trade? When you are scalping the 5-min chart, what do you usually look at on the higher TF ? I can see you enter after a rejection candle off the 10ema on 5-min chart. But that is almost all I can see. Thank you.
Hi antonym, my strategy is very simple...I am a fan of the 34 ema and when scalping on the 5 min I will have the 34 ema on the 15 min and 30 min on the chart, shown by the magenta and red lines. I will take shorts when price is below these lines and vice versa. I won't look beyond the 1 hour tf when scalping on the 5 min. Hope this helps
the cautious seldom err....C
  • #983
  • Oct 22, 2016 4:50am Oct 22, 2016 4:50am
Quoting pips29
{quote} Hi antonym, my strategy is very simple...I am a fan of the 34 ema and when scalping on the 5 min I will have the 34 ema on the 15 min and 30 min on the chart, shown by the magenta and red lines. I will take shorts when price is below these lines and vice versa. I won't look beyond the 1 hour tf when scalping on the 5 min. Hope this helps
Thank you Sir. It helps a lot my understanding. When you took trade on M15 (primarily with-trend trades), do you also consider the price location with respect to 34ema on H1 and H4? How about the 34ema on D1?

It seems to me that you are also taking some counter-trend trades, for example, the Oil buy trade on M15 yesterday. Do you consider the 34ema on higher timeframe for these counter-trend trades?

Thank you.
  • #984
  • Oct 22, 2016 5:27am Oct 22, 2016 5:27am
Quoting antonym
{quote} Thank you Sir. It helps a lot my understanding. When you took trade on M15 (primarily with-trend trades), do you also consider the price location with respect to 34ema on H1 and H4? How about the 34ema on D1? It seems to me that you are also taking some counter-trend trades, for example, the Oil buy trade on M15 yesterday. Do you consider the 34ema on higher timeframe for these counter-trend trades? Thank you.
antonym, please drop the sir thing. First , why did you say the buy on oil was a ct trade.Perhaps it was on the smaller tf...anyway,the trade was taken when price pushed above the 34 ema on the 1 hour and also the 4 hour..Price was also above the 10 ema on all the time frame as indicated on the top centre of the chart (10 ema dashboard)....coming back with your question relating to 15 min trend following trade, I will look at where price is on the 1 and 4 hour chart. If price is above both the 34 ema on both tf (price is also above the 10 ema normally) I will go long if there is space before resistence/supply sets in...I will also trade when price is in between the 34 ema on the 1 hour and 4 hour targetting the 4 hour 34 ema for a long..I will show an example or two in a moment
the cautious seldom err....C
  • #985
  • Oct 22, 2016 5:40am Oct 22, 2016 5:40am
here is the daily of the kiwi...If I went long at where the red vertical line is, is this ct or trend following? I will wait for some replies before going further
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Click to Enlarge Name: NZDUSDDaily.png Size: 66 KB
the cautious seldom err....C
  • #986
  • Oct 22, 2016 9:02am Oct 22, 2016 9:02am
Quoting pips29
here is the daily of the kiwi...If I went long at where the red vertical line is, is this ct or trend following? I will wait for some replies before going further {image}
Thank you for the reply pips29.

I consider the Oil buy trade a counter trend trade because at the time (a) 10ema is below 34ema on H1 and H4. (b) price has been staying below the H1 and H4 34ema the whole time before the buy trade is taken.

I agree that when the buy trade is taken, price has pushed above the H1 and H4 34ema. Hence, if the definition of "with-trend"/"counter-trend" is made with regards to price location above or below the 34 ema on higher TF, then it should be considered as with-trend in that definition.

According to that definition, the question regarding the daily kiwi example can be answered depending on whether the daily chart is used as an entry timeframe (in that case I need to check if it is above 34ema on Weekly and Monthly), or as a higher timeframe (in that case it would be considered as a counter-trend trade because it's still below Daily 34ema).
  • #987
  • Oct 22, 2016 11:39am Oct 22, 2016 11:39am
Quoting antonym
{quote} Thank you for the reply pips29. I consider the Oil buy trade a counter trend trade because at the time (a) 10ema is below 34ema on H1 and H4. (b) price has been staying below the H1 and H4 34ema the whole time before the buy trade is taken. I agree that when the buy trade is taken, price has pushed above the H1 and H4 34ema. Hence, if the definition of "with-trend"/"counter-trend" is made with regards to price location above or below the 34 ema on higher TF, then it should be considered as with-trend in that definition. According to that...
Ok I see what you mean but when trading the 5 or 15 min tf I don't look for the 10 ema to have crossed over/under the 34 ema on the 1 or 4 hour. It would be safer if that had happened but it's no guarantee the trade comes out as a winner and by doing so there will be some pips lost because the entry will be late. I am just timing for an earlier entry and getting more pips and as long as price is above the 34 ema on the next higher tf I am trading (at least 4x or more) and with pa and the cci I will take the trade. The bad data from Canada was responsible for my loss trade imo. Price is now slightly above my entry
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the cautious seldom err....C
  • #988
  • Oct 22, 2016 12:04pm Oct 22, 2016 12:04pm
I have just put the 200 ema on the daily chart of the kiwi and by the simple definition it is uptrend when price is above and vice versa. Moreover you can see hh,hl. As I am not trading H4, it won't matter to me if I did not bother to look at the daily. I am scalping using the 5 min. You don't need such big tf when trading 5 or 15 min chart
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDDaily.png Size: 62 KB
the cautious seldom err....C
  • #989
  • Oct 22, 2016 9:53pm Oct 22, 2016 9:53pm
Quoting pips29
I have just put the 200 ema on the daily chart of the kiwi and by the simple definition it is uptrend when price is above and vice versa. Moreover you can see hh,hl. As I am not trading H4, it won't matter to me if I did not bother to look at the daily. I am scalping using the 5 min. You don't need such big tf when trading 5 or 15 min chart {image}
Thank you for the explanation. It helps a lot.
  • #990
  • Oct 24, 2016 9:19am Oct 24, 2016 9:19am
scalping the 5 min chart
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the cautious seldom err....C
  • #991
  • Oct 24, 2016 9:29am Oct 24, 2016 9:29am
just gone short ...let's see
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the cautious seldom err....C
  • #992
  • Oct 24, 2016 11:56am Oct 24, 2016 11:56am
I somehow missed this set up...Price is below the 34 ema on H1 and was making LH but CCi was making HH. There were a few entries that can be taken as highlighted in blue which corresponded with the 14cci passing down thru' the zero line...will catch it next time
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Click to Enlarge Name: USOUSDM5.png Size: 48 KB
the cautious seldom err....C
  • #993
  • Oct 25, 2016 7:16am Oct 25, 2016 7:16am
caught this one for +22 whereas some others ended at b/e..presently in u/y long,e/u short( locked both at b/e ) and n/u short
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #994
  • Oct 25, 2016 8:01am Oct 25, 2016 8:01am
profits taken on both e/u and u/y...e/u was taken yesterday
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the cautious seldom err....C
  • #995
  • Oct 25, 2016 8:09am Oct 25, 2016 8:09am
profit taken...got my quota already...will take it easy ...bye
Attached Image(s) (click to enlarge)
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the cautious seldom err....C
  • #996
  • Oct 25, 2016 8:58am Oct 25, 2016 8:58am
Quoting pips29
just gone short ...let's see {image}
Hi pips29,

The sell trade of EU, I see that price exhibit some toppish pattern and you entered after price broke below the higher TF 34ema, but I find it difficult to understand the reason you decided to stay in it for very long time despite the price retracing against you.Could you discuss a bit more when you have time? Also is there any special meaning of the cyan blue rectangle area marked on chart?

Thank you.
  • #997
  • Oct 25, 2016 9:06am Oct 25, 2016 9:06am
re entered and came out green
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Click to Enlarge Name: EURAUDM5.png Size: 52 KB
the cautious seldom err....C
  • #998
  • Oct 25, 2016 9:17am Oct 25, 2016 9:17am
Quoting antonym
{quote} Hi pips29, The sell trade of EU, I see that price exhibit some toppish pattern and you entered after price broke below the higher TF 34ema, but I find it difficult to understand the reason you decided to stay in it for very long time despite the price retracing against you.Could you discuss a bit more when you have time? Also is there any special meaning of the cyan blue rectangle area marked on chart? Thank you.
yes, I am quite free as I do not have any position now..I thought no one will ask, the cyan rectangle is a supply zone and I initially had my stop just above this zone (17 pips)....price did retrace but was not in danger...r:r not that good but with scalping any amount of green pips helps..hope this little bit of info shed some light.I am showing the 15 min chart in order to see clearer
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the cautious seldom err....C
  • #999
  • Oct 25, 2016 9:39am Oct 25, 2016 9:39am
Quoting pips29
I somehow missed this set up...Price is below the 34 ema on H1 and was making LH but CCi was making HH. There were a few entries that can be taken as highlighted in blue which corresponded with the 14cci passing down thru' the zero line...will catch it next time {image}
I have the supply zone on the oil chart as well but did not trade it, as I cannot monitor too many trades on the fast time frame ie 5 min...here is how the chart looks like
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the cautious seldom err....C
  • #1,000
  • Oct 25, 2016 10:30am Oct 25, 2016 10:30am
H1 chart....looks like price is coming up for a test of the swing low
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the cautious seldom err....C
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