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  • #141
  • Nov 21, 2016 11:02am Nov 21, 2016 11:02am
This is my analisis fron M5, hope is right according the setup wizlon32

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  • #142
  • Nov 21, 2016 11:03am Nov 21, 2016 11:03am
You could be on to something Trinquete. I see alot of volume traded at Fridays lows which could be large amounts os short orders being closed and long orders opened but trade what you see. If the setup works shows up and looks nice take it
Indentify > Plan > Accept > Execute
  • #143
  • Nov 21, 2016 11:08am Nov 21, 2016 11:08am
Quoting wizlon32
{quote} It would be better if you show the whole chart so we can see the TF and the RSI window.
I came a little late. The graph is M5. We are short of H1.

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  • #144
  • Nov 21, 2016 11:11am Nov 21, 2016 11:11am
A likely entry could be USDJPY? Of H1 we are long and M5 is pullback. 3 As soon as RSI back above 50 could try to buy?
  • #145
  • Nov 21, 2016 11:29am Nov 21, 2016 11:29am
Quoting nightfox84
{quote} I came a little late. The graph is M5. We are short of H1. {image}
Well done on bagging a few pips!

It is not an ideal setup, mainly because there is no pullback with 3 RSI going above 50.

The HTF MAs don't look great on M5 but you can see on H1 that they do look to be about to cross.

If you can make money even when the setup is not ideal then you are on to a winner in my book.

For your next trade see if you can grab a text book entry, or close to one.

Lastly please get rid of that RSI Histogram? You don't need it. A normal RSI line is much easier to read.
Indentify > Plan > Accept > Execute
  • #146
  • Nov 21, 2016 11:33am Nov 21, 2016 11:33am
Quoting nightfox84
A likely entry could be USDJPY? Of H1 we are long and M5 is pullback. 3 As soon as RSI back above 50 could try to buy?
Possible but looks like we have hit strong resistance.

Also if you look at the current leg up you can see higher volume at the tops than the bottoms. This indicates selling at the highs.

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Indentify > Plan > Accept > Execute
  • #147
  • Nov 21, 2016 11:35am Nov 21, 2016 11:35am
Quoting wizlon32
{quote} Well done on bagging a few pips! It is not an ideal setup, mainly because there is no pullback with 3 RSI going above 50. The HTF MAs don't look great on M5 but you can see on H1 that they do look to be about to cross. If you can make money even when the setup is not ideal then you are on to a winner in my book. For your next trade see if you can grab a text book entry, or close to one. Lastly please get rid of that RSI Histogram? You don't need it. A normal RSI line is much easier to read.

Thank you. How pullback RSI 3 I considered the circled in the figure therefore I said I'm late.

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  • #148
  • Nov 21, 2016 11:36am Nov 21, 2016 11:36am
Quoting wizlon32
{quote} Possible but looks like we have hit strong resistance. Also if you look at the current leg up you can see higher volume at the tops than the bottoms. This indicates selling at the highs. {image}
I get it. Thank you.
  • #149
  • Nov 21, 2016 11:39am Nov 21, 2016 11:39am
Quoting nightfox84
{quote} Thank you. How pullback RSI 3 I considered the circled in the figure therefore I said I'm late. {image}
Oh I see.

But at that point the HTF MAs were still saying that H1 was long.

Now if you had taken it as a H1 trade using the H4 HTF MAs that would have been a good entry.
Indentify > Plan > Accept > Execute
  • #150
  • Nov 21, 2016 11:44am Nov 21, 2016 11:44am
Quoting wizlon32
{quote} Oh I see. But at that point the HTF MAs were still saying that H1 was long. Now if you had taken it as a H1 trade using the H4 HTF MAs that would have been a good entry.
I get it. I had to wait for the intersection of two 120EMA. Right?
  • #151
  • Nov 21, 2016 11:49am Nov 21, 2016 11:49am
Quoting nightfox84
{quote} I get it. I had to wait for the intersection of two 120EMA. Right?
Yes fpr shorts the green dotted MA shouldbe below the Orange dotted MA. Just be aware though that the 120EMAs on M5 are only an approximation of the H1 10EMAs. A good enough approximation forwhat we do.

With that said there is nothing to say you can't profit from less than ideal setups. You certainly can as you have just proved.
Indentify > Plan > Accept > Execute
  • #152
  • Edited 12:11pm Nov 21, 2016 11:52am | Edited 12:11pm
Quoting nightfox84
{quote} Thank you. How pullback RSI 3 I considered the circled in the figure therefore I said I'm late. {image}
A point worth noting on your current EU short is that we have a whole number just below which may act as support. 1.06000

I use this indicator with the following settings. Main levels 100. Sub levels 25.

Attached File(s)
File Type: mq4 SweetSpotsGOLD_TRO_MODIFIED_VERSION.mq4   6 KB | 278 downloads


We are also at the 61.8 Fib retracement of yesterday's low to todays high.
Indentify > Plan > Accept > Execute
  • #153
  • Nov 21, 2016 11:54am Nov 21, 2016 11:54am
I wanted to try the buy USDJPY. Even though I was in the neighborhood of a resistor I had a very low take profit. Taken in full.

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  • #154
  • Nov 21, 2016 11:57am Nov 21, 2016 11:57am
Quoting nightfox84
I wanted to try the buy USDJPY. Even though I was in the neighborhood of a resistor I had a very low take profit. Taken in full. {image}
Good Man, well done

And thank you for losing that horrible RSI Histogram
Indentify > Plan > Accept > Execute
  • #155
  • Nov 21, 2016 11:59am Nov 21, 2016 11:59am
Quoting wizlon32
{quote} Good Man, well done And thank you for losing that horrible RSI Histogram
thanks to you dear. I accept any advice.
  • #156
  • Nov 21, 2016 12:07pm Nov 21, 2016 12:07pm
Quoting nightfox84
I wanted to try the buy USDJPY. Even though I was in the neighborhood of a resistor I had a very low take profit. Taken in full. {image}

Took that one also, took a few pips. +7
  • #157
  • Nov 21, 2016 12:09pm Nov 21, 2016 12:09pm
Now is a free trade, SL move to BE...

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  • #158
  • Nov 21, 2016 12:10pm Nov 21, 2016 12:10pm
found this in the forums, might help

http://www.forexfactory.com/showthread.php?t=202074 post no.4
Carpe Diem
  • #159
  • Nov 21, 2016 12:11pm Nov 21, 2016 12:11pm
Quoting Trinquete
Now is a free trade, SL move to BE... {image}
As suggested by Wizlon is not a good trade because the two EMA are not crossed.
  • #160
  • Nov 21, 2016 12:15pm Nov 21, 2016 12:15pm
Quoting nightfox84
{quote} As suggested by Wizlon is not a good trade because the two EMA are not crossed.
Personally I would take the profit. There could be some buying here for the reasons I mentioned above. But it's your call.
Indentify > Plan > Accept > Execute
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