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Start Winning - Trade the Current Trend

  • #521
  • Jan 9, 2017 11:14am Jan 9, 2017 11:14am
Oh well I manage to observe a good opportunity and took advantage of it

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1st position taken was a counter trend small very aggressive entry my bias is short and I could see observing the candle behaviour and formation that the SM ( smart money was loading short entries above hence why My thoughts here are this retrace was now over.

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In here you guys can see there was an accumulation phase but the tops were holding meaning the longs were being absorbed by the selling power. I managed to add positions to build my normal size position that I defined as maximum to trade/manage. it's basically I am willing to risk .5% of trading account per position open.

the factors that made me open and load in at this price levels where:
current trend direction strong short as we can see by the 34/55 or dotted 48/100
dash board full red confirms the direction of ma.
the entries were taken every time the RSI crossed below 50 coming from above it
the clear divergence on the RSI indicator
I wont include Volume in the analysis or open trade criteria because I still don't know how to interpret it well so I'm learning to see what they say but its not a factor of decision.

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Two of the upper positions closed and the lower 2 BE protected free trades... remains with good indication for short direction but theres a good support area 141.06 and ofc its close to a round number so my aim would be exit these two close to that price.

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Positions all closed as I don't like the candle formation that buy pin bar at support.

2.1% in profit today I'm happy with that number will keep watching the charts but only a very good setup will pull me in again.

Stay safe.
  • #522
  • Jan 9, 2017 11:23am Jan 9, 2017 11:23am
well while I was focusing my attention on my trades there was a good opportunity happening also in Gold.

we cant catch them all

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  • #523
  • Jan 9, 2017 11:44am Jan 9, 2017 11:44am
Quoting zwara
Oh well I manage to observe a good opportunity and took advantage of it GBPJPYM5.png;2132140 1st position taken was a counter trend small very aggressive entry my bias is short and I could see observing the candle behaviour and formation that the SM ( smart money was loading short entries above hence why My thoughts here are this retrace was now over. {image} {image} {image} {image}
Zwara, thank you for your post with good descriptions that we can all learn from! Well done on your trades too.
Indentify > Plan > Accept > Execute
  • #524
  • Jan 9, 2017 11:55am Jan 9, 2017 11:55am
Quoting wizlon32
{quote} Zwara, thank you for your post with good descriptions that we can all learn from! Well done on your trades too.
You're welcome Wiz, let's just evolve the system. and learn it. I believe all systems are profitable as long as you have an edge on them , clear rules and specially you just play the game and don't try to win against the big boys, just pigtail them. They are Big boys for a reason, because they are in this business to make money, so we just pick a small amount of their move all the times we spot they are moving .
  • #525
  • Edited Jan 10, 2017 7:12am Jan 9, 2017 12:10pm | Edited Jan 10, 2017 7:12am
Quoting wizlon32
Could be a short trade on USDCHF H4. Although the 34 EMA is flat so maybe not ideal. I do see MACD divergence on H1 though. Keeping an eye on it for now.
USDCHF H4 trade that I mentioned earlier. Hope more of you managed to grab some pips!

Charts are left to right M5, H1, H4. The 1st chart I looked at was H4 and I noticed that price was below the 34 EMA and had retraced back to it. The 3 RSI was falling from OB levels . I also noticed that the H4 MACD had just turned above the 0 line but was starting to turn down again.

Next I looked at H1. On H1 price was above the 34 EMA but there was visible divergence on both the 3 RSI and the MACD. The H1 3 RSI was also falling from OB levels so my bias was short. Just as Zwara done I started to add small positions as price went higher (M5 pulllback) which when added together equaled the maximum that I wanted to risk.

I did not look at the M5 TF, I have just shown it here so you can see the individual orders more clearly. Remember, for me this was an H4 trade.

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Indentify > Plan > Accept > Execute
  • #526
  • Jan 9, 2017 12:26pm Jan 9, 2017 12:26pm
Quoting wizlon32
{quote} USDCHF H4 trade that I mentioned earlier. Hope more of you managed to grab some pips! Charts are left to right M5, H1, H4. The 1st chart I looked at was H4 and I noticed that price was below the 34 EMA and had retraced back to it. The 3 RSI was falling from OB levels . I also noticed that the H4 MACD had just turned above the 50 line but was starting to turn down again. Next I looked at H1. On H1 price was above the 34 EMA but there was visible divergence on both the 3 RSI and the MACD. The H1 3 RSI was also falling from OB levels so my...
Nicely done eheheh congratz Wiz


well the GJ as you guys can see respect the support I was talking about so that's it for the day. Now GJ will probably settle for couple hours, maybe if I'm awake I'll have a look around Asia opening.

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  • #527
  • Jan 9, 2017 12:44pm Jan 9, 2017 12:44pm
I mentioned earlier that I shorted UJ on demo. I did that because of something that was on my mind and I wanted to try a little experiment with MACD.

So basically I found a pair (UJ) where the MACD was below the signal line on both H1 and H4 and I sold. H4 just crossed and I did also note that H4 3 RSI was heading lower from OB levels. I did not give consideration to anything else. Actually the bar right befote the one i sold on looked like a bullish pin bar but i sold anyway because of what the H1 and H4 MACD was telling me and i didn't look at that chart again for several hours. It was just an experiment and I am not suggesting that anyone trades this way. I just find it a little interesting.
I took the trade on an MT5 app on my phone. I can't seem to log in to the same account on my computer to show a decent chart so please forgive the pictures.

H1
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H4
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Indentify > Plan > Accept > Execute
  • #528
  • Jan 9, 2017 12:55pm Jan 9, 2017 12:55pm
By the way I am quite liking FerruFx's MTF RSI Alerts indicator. You can set it to alert either when price crosses in to or out of your chosen OB/OS levels and get the slerts syraight to your phone. At the moment I am using it to alert me when price crosses in to OB/OS so I have plenty of time to do a bit of analysis.
Indentify > Plan > Accept > Execute
  • #529
  • Jan 9, 2017 1:23pm Jan 9, 2017 1:23pm
Lots of pairs ranging now. Might be a good time to grab a few scalps. Try a standard deviation channel.

GU maybe?

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Indentify > Plan > Accept > Execute
  • #530
  • Jan 9, 2017 1:37pm Jan 9, 2017 1:37pm
Quoting wizlon32
Lots of pairs ranging now. Might be a good time to grab a few scalps. Try a standard deviation channel. GU maybe? Screenshot1.png;2132309 {image}

If it ranges don't trade it search one that trends that's my philosophy
but ppl who know how to trade well in consolidation are profitable and deal woth the worst part of the markets.
  • #531
  • Jan 9, 2017 1:42pm Jan 9, 2017 1:42pm
Quoting zwara
{quote} If it ranges don't trade it search one that trends that's my philosophy but ppl who know how to trade well in consolidation are profitable and deal woth the worst part of the markets.
It's not too difficult. Find the range. Buy low, sell high. Use a tight stop. But each to their own.
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  • #532
  • Jan 9, 2017 8:18pm Jan 9, 2017 8:18pm
Good work guys. I missed the USDCHF as it was getting late here. Wiz, I have been looking at the exact same type of pattern for the MACD except I sometimes look at two different settings, which after looking at your charts may coincide with a higher TF. I'll post a chart below:

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I tend to use it for another strategy on the Daily TF. but I have now also been using it to confirm on the lower TF setups.
  • #533
  • Jan 9, 2017 8:32pm Jan 9, 2017 8:32pm
hello guys

Well after my gaming session I went to see what was going on and well here a little trade mada protected now I'll let her fly.

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  • #534
  • Jan 10, 2017 4:26am Jan 10, 2017 4:26am
Good job Zwara.

Thanks for that Grantmac. I am going to keep looking in tothe MACD and howitcanbe useful for us.

I think we might be at the point where we can start to help each other catch trades. Just look at your chgarts and you will see that this system will help us to catch some really nice moves if we catch them at the right moment.

I propose that when we see an opportunity we post a simple and short message to let each other know. The priority would be to get the trade yourself of course but if time permits then a quick heads up would be good. There isn'teven a need to post a chert at that point.

Anyone interested?
Indentify > Plan > Accept > Execute
  • #535
  • Jan 10, 2017 4:55am Jan 10, 2017 4:55am
EurGbp M30 possible long

34EMA sloping up
3RSI below 20
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  • #536
  • Jan 10, 2017 5:26am Jan 10, 2017 5:26am
Quoting wizlon32
Good job Zwara. Thanks for that Grantmac. I am going to keep looking in tothe MACD and howitcanbe useful for us. I think we might be at the point where we can start to help each other catch trades. Just look at your chgarts and you will see that this system will help us to catch some really nice moves if we catch them at the right moment. I propose that when we see an opportunity we post a simple and short message to let each other know. The priority would be to get the trade yourself of course but if time permits then a quick heads up would be...
Hi Wiz, that's a great idea. i would like it if we could all start working together.
  • #537
  • Jan 10, 2017 6:10am Jan 10, 2017 6:10am
Quoting wizlon32
Good job Zwara. Thanks for that Grantmac. I am going to keep looking in tothe MACD and howitcanbe useful for us. I think we might be at the point where we can start to help each other catch trades. Just look at your chgarts and you will see that this system will help us to catch some really nice moves if we catch them at the right moment. I propose that when we see an opportunity we post a simple and short message to let each other know. The priority would be to get the trade yourself of course but if time permits then a quick heads up would be...

Thant's not a bad idea, but also the purpose here is to learn and improve you overall knowledge of the forex markets and not becoming a signal spotter service.

I will contribute but I will always leave some analysis behind it.

My goal now is to understand that volume assests I have in my charts so I will have a lot to read and to be honest I don't like much reading stuff ahahahah
  • #538
  • Jan 10, 2017 6:19am Jan 10, 2017 6:19am
Quoting zwara
{quote} Thant's not a bad idea, but also the purpose here is to learn and improve you overall knowledge of the forex markets and not becoming a signal spotter service. I will contribute but I will always leave some analysis behind it. My goal now is to understand that volume assests I have in my charts so I will have a lot to read and to be honest I don't like much reading stuff ahahahah
I agree, I don't intend to become a tipping service and I think I mentioned that in post 1. My idea is to alert each other of potential opportunities and post charts and analysis later. I will not necessarily say that I am entering a trade, just that I am looking at it. I will however follow up later with a chart even if the trade was a loser in order to aid learning (my own and others). That way each person here has their own responsibility to understand the system and decide for themselves whether or or not to enter a trade.
Indentify > Plan > Accept > Execute
  • #539
  • Jan 10, 2017 6:39am Jan 10, 2017 6:39am
Quoting wizlon32
{quote} I agree, I don't intend to become a tipping service and I think I mentioned that in post 1. My idea is to alert each other of potential opportunities and post charts and analysis later. I will not necessarily say that I am entering a trade, just that I am looking at it. I will however follow up later with a chart even if the trade was a loser in order to aid learning (my own and others). That way each person here has their own responsibility to understand the system and decide for themselves whether or or not to enter a trade.
That's a good idea. I agree we can just post ideas and suggestions and we can make comments.
  • #540
  • Jan 10, 2017 6:47am Jan 10, 2017 6:47am
AUDJPY H4 Long??
Indentify > Plan > Accept > Execute
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