I take this trade on Daily Usd-Chf following weekly bullish trend. Any comment will be appreciated :-)
Mi odino pure, purche' mi temano. (Gaio Cesare Germanico Caligola)
- #76,262
- Feb 22, 2017 4:19pm Feb 22, 2017 4:19pm
- | Joined Oct 2016 | Status: Member of the TMS Community | 161 Posts
I take this trade on Daily Usd-Chf following weekly bullish trend. Any comment will be appreciated :-) {image} {image}
On my chart the weekly resistance was broken and there was kind of a small retest.
Current candle which is just forming right now is the next daily bar and starts bullish so... yes... it could work
on my chart:
dark violet line is monthly support/resistance
dark orange is weekly
EDIT:
I added my MA's on the chart
20 EMA = RED line
50 SMA = Blue Line
100 EMA = Red dotted line (visual of how the 20 and 50 would look on the week chart)
250 SMA = BLue dotted line (visual of how the 20 and 50 would look on the week chart)
What it tells us?
The dottet lines confirm the overall bullish trend
The price closed above the 50 SMA
The red line (20 EMA) is sloping up
All of this confirms that this could be a good setup for a trade.
First comes knowledge about yourself, then comes a system...
- #76,264
- Feb 22, 2017 5:10pm Feb 22, 2017 5:10pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
EURJPY - Post-mortem of how it traded yesterady on FOMC day.
Doing your Big Picture Plan will help you see what happened in the past so that we know where historical price support and resistance were.
For example, in my post discussion with member okosa,
http://www.forexfactory.com/showthre...31#post9573631
I noted the level 118.70 a nice RN and used that form my take profit this week.
Look that same Day chart the 'forest' below,
and now look at the 'trees' on H1, what do we see?
Now you learn how to look for CONSOLIDATION and avoid taking any TDI cross signal when the market is in CONSOLIDATION.
Go to your TMS chart template and see the TDI cross when the price action was in side that Master Candle.
The TDI as a trade signal is not reliable when the market is in CONSOLIDATION and also when the market is in narrow range low volatility.
About the TDI being the heart of TMS?
Know your heart and know the TDI being the heart of the TMS.
Like the human heart, it can be diseased, it can miss a pulse without you knowing, but your brain knows.
Use our brains, that is what Big E said before.
Train your eyes for Price Action trading.
Be discipline and do your top down analysis every week, after the market closed on Friday and be prepared fro the next week trading.
Doing your Big Picture Plan will help you see what happened in the past so that we know where historical price support and resistance were.
For example, in my post discussion with member okosa,
http://www.forexfactory.com/showthre...31#post9573631
I noted the level 118.70 a nice RN and used that form my take profit this week.
Look that same Day chart the 'forest' below,
and now look at the 'trees' on H1, what do we see?
Now you learn how to look for CONSOLIDATION and avoid taking any TDI cross signal when the market is in CONSOLIDATION.
Go to your TMS chart template and see the TDI cross when the price action was in side that Master Candle.
The TDI as a trade signal is not reliable when the market is in CONSOLIDATION and also when the market is in narrow range low volatility.
About the TDI being the heart of TMS?
Know your heart and know the TDI being the heart of the TMS.
Like the human heart, it can be diseased, it can miss a pulse without you knowing, but your brain knows.
Use our brains, that is what Big E said before.
Train your eyes for Price Action trading.
Be discipline and do your top down analysis every week, after the market closed on Friday and be prepared fro the next week trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,265
- Feb 22, 2017 5:16pm Feb 22, 2017 5:16pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
{quote} thanks and goodnight. PS you might want to update your signature
good point. noted.
I have see my charts used by other people in their blogs and
my indicators, scripts posted in other forums.
here we see charts and images being used without tribute and credit to their owners
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,266
- Feb 22, 2017 5:22pm Feb 22, 2017 5:22pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Dear Emmanuel, Please can you share your indicator for overlaying the weekly candles on the D1 and H4 charts. (post ref 76211 and 76237) Thanks
You mean this D1 candle shown as background on the lower TF charts?
everything that I used in the past 5 years are all here
http://www.forexfactory.com/showthre...89#post8860789
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,267
- Feb 22, 2017 5:41pm Feb 22, 2017 5:41pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
{quote} Yes, your are correct to see that yesterdays Day candle is a big candle in fact a WRB. Where do we place our initial Stop Loss with one Single Entry trade? But the danger is in H4, you will see several H4 WRB above current price action. see chart below, WRB 1 and WRB 2. Today' correction / retracement can hit WRB 1. {image}
Can price retracements be predicted? NO.
As technical traders, we use our own trading tools to read the market.
We do not predict the market and what it will do.
None of our trading tools will give us 100% perfect results but it will help us when we plan our trades and know what to avoid.
We as traders has one advantage over gamblers in casinos, i.e. we have historical price data to analyse and use that to plan our trades.
ERUGBP is one good example this week. The retracement did went up to WRB1.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,269
- Feb 22, 2017 10:20pm Feb 22, 2017 10:20pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,270
- Feb 22, 2017 10:45pm Feb 22, 2017 10:45pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
To all of you who asked for this.
Pipware charts by FF member stratman.
Attached are his indicators and my templates set up for TMS 5_Method.
You will have two templates:
use one or the other, or you can also setup a new templates with your own preferences.
Warning:
These indicators are CPU intensive therefore do not load too many charts with these templates. use them only for study and analysis purposes only. You should install a separate instance of MT4 and run it independent from your other MT4 live trading accounts
For live trading, use only clean and clutter free charts.
Pipware charts by FF member stratman.
Attached are his indicators and my templates set up for TMS 5_Method.
You will have two templates:
use one or the other, or you can also setup a new templates with your own preferences.
Warning:
These indicators are CPU intensive therefore do not load too many charts with these templates. use them only for study and analysis purposes only. You should install a separate instance of MT4 and run it independent from your other MT4 live trading accounts
For live trading, use only clean and clutter free charts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,273
- Feb 22, 2017 11:28pm Feb 22, 2017 11:28pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Hi everyone, I have been reading this thread for about a month now. Been reading it from the start actually which is a few years back so I am not really very up to date on whats been posted here recently. But after today I have this burning question to ask I have been trading this method on demo for a while now, usually when I lose, I work backwards and I can sort of figure out why (bad entry, near resistance etc etc) Today I took 2 short trades on GBP/USD and GBP/JPY based on this method. Within 2 hours, I lost and I am keen to know why as I cant...
my comments:
1) your post font in red is difficult to read.
2) before you even consider trade decision using the TDI, you must have done your top down analysis and know what the market condition, and have a trade plan written down -
- is the market trending, what is its trending range, volatility?
- is the market is sideways, is the sideways more to the upside or downside? its trading range?
- if market is narrow range, go find another pair.
3) before you take a TDI trade,
- look at the Price Action and where recent Support & Resistance zones are.
- what are the trends in all three timeframes- H4, D1 and W1?
- are you trading following the Primary trend W1 or the Secondary trend D1? see pic below.
- if your H4 trading timeframe is in consolidation, Do Not take any TDI cross signal.
4) the TDI blue band does not tell if the market is trending or not. Big E removed the TDI Volatility bands from his trading chart to meet his 'keep it simple' trading beliefs. He unknowingly removed one of the features of the TDI which was created by Dean Malone. You can use the TDI MBL Yellow line as an additonal filter and it can give your more confidence to pick the better trades when market is trending but not when the market is narrow range sideways.
5) avoid trading the GBPJPY pair, it is a very volatile pair and if you trade with fix lot size without doing position sizing, your small stop loss 100 pips will be taken by the market very easily.
... more/-
Market Trends
Have you heard of Triple Screen Trading Systems by Dr. Alexander Elder?
next time he visits Singapore, go to his seminars
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,274
- Feb 22, 2017 11:39pm Feb 22, 2017 11:39pm
- Joined Nov 2008 | Status: Trader | 50,190 Posts
AUDUSD Week 08 comments:
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,275
- Edited 1:39am Feb 23, 2017 12:19am | Edited 1:39am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
I have also attached the charts for reference
Apply post#647 with a twist, check the time frame's below and above the chart you are on. You are on H4 so what is H1/D1 doing?
Looking now at H1 and H4 both are dead duck's going nowhere (hindsight is no good in trading).
Very important.... You did not place the order at the beginning of that bar. I think that is your main mistake
post#6: Entries and exits...
We Enter a trade when green crosses red on the TDI at the beginning of that candle...
Did not do the second chart, (blank the chart so that you can not see the bar's after the trade) and do your chart thing the same way. Post that chart again that member's can point out the point's you missed (or see the point's that they missed)
Keep it simple
Edit: long wick at bottom must be: buyer's are strong
- #76,276
- Feb 23, 2017 1:31am Feb 23, 2017 1:31am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
- #76,277
- Feb 23, 2017 1:33am Feb 23, 2017 1:33am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Here more PA with Day candles:
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #76,278
- Feb 23, 2017 2:01am Feb 23, 2017 2:01am
- Joined Sep 2016 | Status: Inactive | 1,531 Posts
Here is a slightly better trade I made early this morning. The pair was getting close to a resistance but I thought there was still some room. Cheers.{image}
