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Trading Made Simple

  • #76,641
  • Mar 6, 2017 12:33am Mar 6, 2017 12:33am
Hello,

Do you have some analysis for EURUSD?

It will move up? I think the post for USD JPY seems to be down in 4 H Chart, then, I think EURUSD will be up.

Please, post some comment regarding EURUSD direction.
  • #76,642
  • Mar 6, 2017 1:17am Mar 6, 2017 1:17am
Here an example trading price action with support/resistance

AUDUSD Mar 6 H1 Frankfurt Open

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Mar 6 H1 FO candle.png Size: 65 KB


There will be one thousand and one reasons why this trade should not be taken. Hindsight will tell you so when this trade end up a loss.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,643
  • Mar 6, 2017 1:50am Mar 6, 2017 1:50am
Quoting emmanuel7788
Here an example trading price action with support/resistance AUDUSD Mar 6 H1 Frankfurt Open {image} There will be one thousand and one reasons why this trade should not be taken. Hindsight will tell you so when this trade end up a loss.
the resistance and DOL is too close,the good SL(below the higher low) is too far and the main trend is down ,there is no room for 1R profit. am I right?
  • #76,644
  • Mar 6, 2017 1:58am Mar 6, 2017 1:58am
Quoting emmanuel7788
{quote} Hi Deichkind, I have not forgotten your post. Just that I need to find a good way to explain things in different scenarios so that newbies reading will learn it too and in simpler explanations. Trading reversal setups is not easy because we can never be sure if the reversal setups will run into a new trend. Sometimes reversal setups as we see them do run immediately into a new trend. Other times, it just go sideways for long time before the market decide to trend again. In his book title " Beat the Forex Dealer", Agustin Silvani described...
good morning
I find active trade management one of the most difficult things I have tried this far.
I usually end up cutting profits short
  • #76,645
  • Mar 6, 2017 2:42am Mar 6, 2017 2:42am
Good Morning TMS Traders/ Emmanuel,

Its approximately a year I have joined FF and follow this thread, seen many people coming and going but Emmanuel you are one of the best, People who are criticizing you now (without mentioning their names) will also leave the thread with the passage of time or will make their own threads.

Last whole week I spent time in learning PA setups and reading posts by senior members as have realized that PA is first and TDI ( or any other indicator is secondary)

Emmanuel I have few things in my mind when reading old posts please if you can explain them as it will help a newbie like me and others also:
-- Trading away from the Daily open and the moving averages,
-- When day trading (EOD), what to look at in the weekly chart ( how many previous weekly bars to look at, do we need to look at the current weekly bar, how to figure out weekly reversals)

Hopefully I will start posting my EOD charts very soon.

Emmanuel once again extremely for the time you spent on forum and your wonderful , worth reading posts.
  • #76,646
  • Mar 6, 2017 3:02am Mar 6, 2017 3:02am
Quoting dunova
{quote} the resistance and DOL is too close,the good SL(below the higher low) is too far and the main trend is down ,there is no room for 1R profit. am I right?

Hi Dunova,

You made some good observations and that 'no room for 1R profit' is very important when we plan our trades and use Position Sizing. I normally look Risk:Reward ratio 1: 1.5 at minimum potential to take a trade setup.

Support and Resistance seen to the left recent price action. To put it in simple terms, the market is in CONSOLIDATION we must avoid trading when the market is in CONSOLIDATION.

A good practice to develop our chartist skills and look at price action is to learn by looking at H1 Line Chart with a view of the Weekly and Daily candle. see below.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Mar 6 H1 Line Chart w BG candles.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,647
  • Mar 6, 2017 3:04am Mar 6, 2017 3:04am
Quoting emmanuel7788
Here an example trading price action with support/resistance AUDUSD Mar 6 H1 Frankfurt Open {image} There will be one thousand and one reasons why this trade should not be taken. Hindsight will tell you so when this trade end up a loss.
does this count as a WRB gap?
Attached Image
  • #76,648
  • Mar 6, 2017 3:11am Mar 6, 2017 3:11am
AUDUSD Mar H1 London Open +1.

using Price Action bar pattern over the APB/HA will help us look for setups.
In this example, it is continuation ...

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Mar 5 H1 LO+1.png Size: 59 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,649
  • Mar 6, 2017 3:14am Mar 6, 2017 3:14am
Quoting bistolis
{quote} does this count as a WRB gap? {image}

that is a big candle and also a Wide Range Bar.
there are hidden gaps in H1 but you cant see them on naked charts.
you need a tools for that. only for advance traders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,650
  • Mar 6, 2017 3:16am Mar 6, 2017 3:16am
Look at EU. Currently running SL of previous week's highs (1.063). Fundamentals bullish for USD, so should fall.

EZ
  • #76,651
  • Mar 6, 2017 3:18am Mar 6, 2017 3:18am
Quoting emmanuel7788
{quote} that is a big candle and also a Wide Range Bar. there are hidden gaps in H1 but you cant see them on naked charts. you need a tools for that. only for advance traders.
what kind of tools ?
Attached Image


just joking
  • #76,652
  • Mar 6, 2017 3:22am Mar 6, 2017 3:22am
Here is my trade taken today, March 06 .
Pros: TDI cross, good angle, D1 is also bullish
Cons: Possible buying into triple top.

Anyway, trade opened at 1.06310, S/L: 1.05799, T/P: 1.0700
Will see how it develops.

Appreciate any feedback and constructive criticism
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-03-06_EURUSD_Buy.png Size: 132 KB
  • #76,653
  • Mar 6, 2017 4:00am Mar 6, 2017 4:00am
Is not about being right, is about beating the market at it's own game. Save guard the pips you make. Look after the penny's and the dollar's will look after them-self.

When TDI give's cross, apply post#647 before taking a trade.
Keep it Simple
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYmicroH4.png Size: 49 KB
  • #76,654
  • Mar 6, 2017 4:25am Mar 6, 2017 4:25am
LOL here we go again.
Talking and trading live is two different games.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,655
  • Mar 6, 2017 4:26am Mar 6, 2017 4:26am
Quoting bistolis
{quote} what kind of tools ? {image} just joking

those tools I have in my shop for years....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,656
  • Mar 6, 2017 4:26am Mar 6, 2017 4:26am
Quoting michael_k
Here is my trade taken today, March 06 . Pros: TDI cross, good angle, D1 is also bullish Cons: Possible buying into triple top. Anyway, trade opened at 1.06310, S/L: 1.05799, T/P: 1.0700 Will see how it develops. Appreciate any feedback and constructive criticism {image}
Buy trade?
- right at / against resistance.
- TDI cross above 80
- entry a trade at the beginning of that bar (Not sure if you waited for green to pass red and you can see green on the other side) the trade would be nice at 1.06100

How you going to exit because green goes flat is removed because it is against getting rich and what is written in some book I do not know. You should ask that member to give new exit rule.
  • #76,657
  • Mar 6, 2017 4:30am Mar 6, 2017 4:30am
Quoting emmanuel7788
LOL here we go again. Talking and trading live is two different games.
Well emmanuel it is a live account.
Enjoy
Edit: Forgot to add : Keep it Simple
Attached Image (click to enlarge)
Click to Enlarge Name: XM MT4.png Size: 68 KB
  • #76,658
  • Mar 6, 2017 4:31am Mar 6, 2017 4:31am
Quoting michael_k
Here is my trade taken today, March 06 . Pros: TDI cross, good angle, D1 is also bullish Cons: Possible buying into triple top. Anyway, trade opened at 1.06310, S/L: 1.05799, T/P: 1.0700 Will see how it develops. Appreciate any feedback and constructive criticism {image}

hindsight is 20:20 vision.

but I see you chase after a very big candle.

I have a rule: do not chase after the market.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,659
  • Mar 6, 2017 4:33am Mar 6, 2017 4:33am
Quoting Tekkies
{quote} Well emmanuel it is a live account. Enjoy {image}

well done.

did you use M1 for entry?

remember, I believe in CONSISTENCY over 3 to 5 years.

Read this post
https://www.forexfactory.com/showthr...12#post9629312
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #76,660
  • Mar 6, 2017 4:45am Mar 6, 2017 4:45am
Quoting Tekkies
{quote} Buy trade? - right at / against resistance. - TDI cross above 80 - entry a trade at the beginning of that bar (Not sure if you waited for green to pass red and you can see green on the other side) the trade would be nice at 1.06100 How you going to exit because green goes flat is removed because it is against getting rich and what is written in some book I do not know. You should ask that member to give new exit rule.
I do believe that TDI giving you good entries

I just cant find any profitable way to have a good exit
look at this chart 1H CADJPY
how the hell can I exit with as much profit as possible using the TDI alone without any thought about money management AFTER the entry?
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 139 KB


any suggestions are welcome

(you get an even more confusing trend ride using the TDI on the left of this entry on the chart)
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