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Start Winning - Trade the Current Trend

  • #121
  • Nov 21, 2016 3:21am Nov 21, 2016 3:21am
Quoting jakdan
Wizlon, great thread and method. on the 1Hr would you wait for the candle to close or just go in as 3 crosses?
Good question Jakdan.

For me, I don't actually trade any TF in isolation. I am constantly looking at various TFs in a bid to get the whole picture. so when I see an H1 set up, I take my entry on M5 for example.

However I think either method would be acceptable. But if I had to choose 1 method I would probably choose to execute thetrade before the candle closed to get a better entry. Although I know many would disagree with me on that.
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  • #122
  • Nov 21, 2016 3:39am Nov 21, 2016 3:39am
Got work to do now. Good Luck and catch you all later.
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  • #123
  • Nov 21, 2016 3:51am Nov 21, 2016 3:51am
Can you record a video, some trend for more understanding of the process. Thank you
  • #124
  • Nov 21, 2016 4:07am Nov 21, 2016 4:07am
[quote=wizlon32;9271474]{quote} Good question Jakdan. For me, I don't actually trade any TF in isolation. I am constantly looking at various TFs in a bid to get the whole picture. so when I see an H1 set up, I take my entry on M5 for example.

This is the Number one Lesson I learnt from my GBPUSD Trade posted earlier.

Trade well!.
  • #125
  • Nov 21, 2016 6:27am Nov 21, 2016 6:27am
Hi, I know the point of your thread is totally diferent than simple "VSA/Volume analysis", but can u point once again the material regarding Volume (I'm very interested!), that u refer in an early post...
BTW for the NON-Belivers... "Volume" is second after "Price"... first leading indicator is "PRICE" and price only and than comes "Volume", as relevant activity at level; this is how this "concept" should be interpreted in FX World.

I don't want to promote anything but u could also start "looking" the Volume Profiling, which enforce more the principle of "levels/activity at level", levels where u would find yourself in a "better" position toward the market, a position of strength:

https://www.mql5.com/en/market/product/6099#
  • #126
  • Nov 21, 2016 7:20am Nov 21, 2016 7:20am
[quote=cristy1980;9271957]Hi, I know the point of your thread is totally diferent than simple "VSA/Volume analysis", but can u point once again the material regarding Volume (I'm very interested!), that u refer in an early post...

The pdf that I am referring to is quite hard to find so I will make it easy.

Just use the search box in my screenshot, type in exactly what I have and click go!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 127 KB
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  • #127
  • Nov 21, 2016 7:37am Nov 21, 2016 7:37am
Quoting Farmazetron
Can you record a video, some trend for more understanding of the process. Thank you
Sorry Farmazetron, I can't make a video.

All you need to do is this....

1. Pick a currency pair.
2. Choose your Time Frame and apply the appropriate template.
3. Alalyze what the HTF MA's are telling you (long or short?).
4. Identify a pullback and get ready to enter in line with the Higher TF trend.
5. Use the 3 RSI crossing 50 level as your entry signal.

Notes:

1. If you want to use a lower TF for perfecting your entry, once you see that your chosen TF looks ready, simply drop to your chosen lower TF and try to get a clean entry using the exact same method. i.e wait for the lower TF pullback and a use the 3 RSI as your trigger to get in.

2. If using a lower TF to get your entry, consider looking for say an M5 entry when H1 RSI 3 is OB or OS, instead of waiting for it to cross the 50 level.
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  • #128
  • Nov 21, 2016 9:52am Nov 21, 2016 9:52am
[quote=wizlon32;9272122]
Quoting cristy1980
Hi, I know the point of your thread is totally diferent than simple "VSA/Volume analysis", but can u point once again the material regarding Volume (I'm very interested!), that u refer in an early post... The pdf that I am referring to is quite hard to find so I will make it easy. Just use the search box in my screenshot, type in exactly what I have and click go! {image}
Ok!, THX! I know it from last year.
  • #129
  • Nov 21, 2016 9:53am Nov 21, 2016 9:53am
Has anyone made any money today using this system? Please share if you have.
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  • #130
  • Nov 21, 2016 9:55am Nov 21, 2016 9:55am
Quoting wizlon32
Has anyone made any money today using this system? Please share if you have.
Now setting up my charts so this would be the first week of testing in demo.
  • #131
  • Nov 21, 2016 10:14am Nov 21, 2016 10:14am
Here is an example ofa trade thatcouldhave been taken today. (I did not take this trade)

USDCAD H1 (left) using M5 for entry.

1. H1 HTF MA cross so we would be looking for shorts.
2. H1 pullback and Upper wicks show the pullback is stalling.
3. H1 3 RSI starts to drop and crosses below 50 from above.
4. At the same time the M5 TF is doing the same.
5. If you missed the entry on wick number 3 then there is another chance on wick 4.
6. Remember this is an H1 trade so don't be too concerned about the M5 10 EMA and its brother (its 10 EMA).

If the trade was taken on or around the H1 wick 3, there would have been a possible 80 or so pips up for grabs.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 64 KB
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  • #132
  • Nov 21, 2016 10:21am Nov 21, 2016 10:21am
Quoting wizlon32
Has anyone made any money today using this system? Please share if you have.
wish I had, but I don't, trying to implement it, but get dizzy with the different pairs and indicators and pvsra and all the stuff. Seems to be a nice system though.

I will try to start with it from today trading only eurusd with 2 charts h1 and m5 until the end of the week (4+ days) and see what happens.

I would also like to see tp and sl hints from you wizlon.

Thank you.

V
Carpe Diem
  • #133
  • Nov 21, 2016 10:38am Nov 21, 2016 10:38am
Quoting geol13
{quote} wish I had, but I don't, trying to implement it, but get dizzy with the different pairs and indicators and pvsra and all the stuff. Seems to be a nice system though. I will try to start with it from today trading only eurusd with 2 charts h1 and m5 until the end of the week (4+ days) and see what happens. I would also like to see tp and sl hints from you wizlon. Thank you. V
I have mentioned my stance on SL and TP more than once already. I don't use TP and I am more likely to hedge my position than use a SL. If you want advice on SL placement I would say put it above or below the previous Lower High for shorts or Higher Low for longs. For me, because I trade high volume relative to account size that could be catastrophic so I don't do it. I can help you with entries but trade / money management is your responsibility.

I am a scalper. I hardly ever let a trade reach its maximum potential so you could easily make more money than me. For example GBPUSD on Friday - I only took about a quarter of what was available in the end.

Look at the example above. There is nothing about PVSRA. You don't need to worry about volume or volume candles. All you need is a candlestick chart with the Moving averages on it and ther 3 RSI.

Stick with it my friend and you will get there.
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  • #134
  • Nov 21, 2016 10:44am Nov 21, 2016 10:44am
Quoting wizlon32
Has anyone made any money today using this system? Please share if you have.
I think eurusd is ready to dance!

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m5m1-21.jpg Size: 207 KB
  • #135
  • Nov 21, 2016 10:50am Nov 21, 2016 10:50am
Quoting Trinquete
{quote} I think eurusd is ready to dance! {image}
Can you be a bit more specific?
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  • #136
  • Nov 21, 2016 10:51am Nov 21, 2016 10:51am
Taken EU.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 14 KB
  • #137
  • Nov 21, 2016 10:56am Nov 21, 2016 10:56am
Quoting Trinquete
{quote} I think eurusd is ready to dance! {image}
I missed EURUSD whilst setting up my charts looked like the perfect setup, so I need PRVSA or something to get the candles looking the same as yours including the volume bars at the bottom?
  • #138
  • Nov 21, 2016 10:56am Nov 21, 2016 10:56am
Quoting wizlon32
{quote} Can you be a bit more specific?
Sorry wizlon32, Im wating all morning the Down setup according to H1 trend ... H1 trend is clearly down, an now 10 ema is crossing down. M5, almost crossing the 120 ema´s, and now Im waiting for the proper pullback in the RSI in M5.
Hope got a right analisis.
  • #139
  • Nov 21, 2016 10:57am Nov 21, 2016 10:57am
Quoting nightfox84
Taken EU. {image}
It would be better if you show the whole chart so we can see the TF and the RSI window.
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  • #140
  • Nov 21, 2016 11:00am Nov 21, 2016 11:00am
Quoting Ipodbob
{quote} I missed EURUSD whilst setting up my charts looked like the perfect setup, so I need PRVSA or something to get the candles looking the same as yours including the volume bars at the bottom?
Only if you want to use them and understand them. If you do want them you can get them from one ofthe PVSRA threads.
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