{quote} Just in case I wouldn't until hear word from Dana or Shaun: {quote}
Ignored
I think this comment was in regards to a medium impact JPY news release, which you shouldn't trade in. The mistake I made was closing a trade at a medium USD news release.
But, I could be wrong!
sorry no trade plan this morning, something cropped up so had to leave early. back on the road tomorrow hopefully. looked like a good trade Tom, shame about the "news" looks like you would have your 40
Ignored
Getting into some tight consolidation now, Romar daily and ema daily only 50 or so pips apart and look at those ema alert arrows on H2. If I wouldn't have made the mistake of closing, would still be in that trade, didn't quite hit the 40. All part of learning
...Side Note: As Dana has mentioned before, when I make my plan by the time I get to final notes I know if I will be entering a Long or Short position. I never have the option for both. Im either going Long off support, or going Short off resistance. Based on what the indicators are saying to me after I read it back to myself. The only thing to think about after that is determining which level of support or resistance to keep it simple. {image}
Ignored
Hi Hendo,
I was asking myself about that yesterday as it happens to me too. Although I know in consolidation we can both trade short or long, I only see one direction to trade.
I do not know if its good or not...
Cheers,
If my understanding is correct waiting on breakout to the north 2hr romar trend is up. Daily db has control attaching to the top, waiting for h2 horsemen to sync with h1?
Joined Apr 2010
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Status: Trade what u see, not what u think.
|636 Posts
Date: 03/07/16 06.15 GMT
Daily:
ROMAR - Resistance
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing: up
Last EMA Alert Arrow: up
Last DB Attachment: 121.160
Fibo: up
Notes: the 1 Daily has the 4 horsemen in an up trend with the market on white, purple is resistance smooth is support. Sitting just above ROMAR. DB / SAR Attachment at the lower high 121.160 together with Magenta dash. Gold and LB Div at the low green fibo 118.225
2 HR:
OPEN PRICE 120.488 120.628
ROMAR - Support
EMA - Support
PSAR - Resistance
Check List:
Last MACD 0 crossing: down
Last EMA Alert Arrow: up
Last DB Attachment: 120.340
Fibo: down
Notes: the 2 hour has the market in consolidation with purple white and smooth acting as support. PSAR has been eliminated. SAR @ 120.654 DB Attachment H/L 120.340 Together with Light Blue
1 HR:
ROMAR - Support
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing: up
Last EMA Alert Arrow: up
Last DB Attachment: N/A
Fibo: up
Notes: The 1 hour has the market in tight consolidation with the market just above all. BB starting to flatten.
Final Notes for all three charts: the market is in tight consolidation The 2hr SAR has just attached at the PSAR 120.657
Entry: going to have to sit this one out, I would be gambling.???
Consolidation:
Long:
Short:
Notes for readjustments: 2hr Gold Divergence attached at the 10.00- 12.00 candle. the next candle retraced with market still in consolidation. BB getting narrower. Contour lines are forming a triangle? Not sure if this is old school thinking or is matter of fact? Please advise. Smooth crossing EMA on Daily Romar and EMA getting closer.
still haven't got a clue to direction, might wait for the next SAR attachment and take it from there
Stop killing our Oceans, Stop using single use plastics.
{quote} Hi Hendo, I was asking myself about that yesterday as it happens to me too. Although I know in consolidation we can both trade short or long, I only see one direction to trade. I do not know if its good or not... Cheers,
Ignored
Hello Tortilla,
If you see one direction based on your plan, go with that direction, and look to pull the trigger in that direction off support or resistance. The results will surprise you. Hope that helps!
I scrolled back and back and back and could not find the last time the BBs were this close together...and here we are with all kinds of JPY news coming out over the next seven hours. Should be interesting!
I scrolled back and back and back and could not find the last time the BBs were this close together...and here we are with all kinds of JPY news coming out over the next seven hours. Should be interesting!
Ignored
Been checking on new bars and taking screenshots for studying. Not seen a 40 pip trade in the last 24 hours. As you say bb very tight!
Joined Apr 2010
|
Status: Trade what u see, not what u think.
|636 Posts
Date: 08/03/17 06.22 GMT
Daily:
ROMAR - Resistance
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing: up
Last EMA Alert Arrow: up
Last DB Attachment: 118.225
Fibo: up
Notes: the 1 Daily has the 4 horsemen in an up trend with the market below all except PSAR support. DB / SAR Attachment at the lower high 121.160 together with Magenta dash. Gold and LB Div at the low green fibo 118.225
2 HR:
OPEN PRICE 120.404 120.108
ROMAR - Support
EMA - Resistance
PSAR - Resistance
Check List:
Last MACD 0 crossing: down
Last EMA Alert Arrow: down
Last DB Attachment: 120.010
Fibo: down 100
Notes: the 2 hour has the four horsemen turning down acting as resistance against the ROMAR trend. Market also below ROMAR. DB/ SAR @ 120.010 Together with Light Blue
1 HR:
ROMAR - Support
EMA - Resistance
PSAR - Resistance
Check List:
Last MACD 0 crossing: down
Last EMA Alert Arrow: down
Last DB Attachment: N/A
Fibo: up 0
Notes: The 1 hour has the four horsemen in in a down trend all acting as resistance.
Final Notes for all three charts: the market is in consolidation The 2hr DB/SAR has attached at The red 100 fibo together with the gold and light blue. 1Hr and 2 hr horsemen are trending down but not in sync with the 2 hr ROMAR. The daily is also in the downtrend after swing high.
Entry:
Consolidation:
Long:
Short: entry on a retrace back to resistance 2 hr Romar/smooth?
PS I thought this was to get easier to understand, I dont think I will be able to drive to work this morning my head is mince!
Stop killing our Oceans, Stop using single use plastics.
8/3 - EUR/JPY
DAILY
ROMAR:Resistance
EMA: support
Parabolic: support
Notes: purple ,White and smooth pointing up. MACD UP , fibo GREEN.
2H
ROMAR:support
EMA: resistance
Parabolic: resistance
Notes: fibo GREEN MACD down. arrows down 4 horsemen all down. BB was touched on the last 2 candles. DB attached 120.01.
1H
ROMAR: resistance
EMA: resistance
Parabolic: resistance
notes :fibe green,MACD down. 4 horsemen down . BB wes touched 3 candles ago
FINAL NOTES :
One of those days Im happy I trade DEMO...
We are in Consolidation. Will look for a short entry when the 2H price will touch smooth, to continue the 2H down trand before I will pull the trigger, price must get away from the lower BB on the 2H.
The reason I wrote that Im happy to be trading demo is that on the 2H chart we can clearly see the lower BB an DB+magenta attached at 120.01 and it is a relatively strong sign for long. however, looking at the the down trend at moment my evaluation is that there is not enough room for 40 pips long.
Time will tell if Im right.
My humble blessings to you for the giving gesture. After about 8 weeks of some study, I could gather enough courage to post first trade plan. attached screenshots of 1 & 2H charts snippets as well.
I took the long entry based on 1H uptrend and 2H swing to the up, based on 2H EMA-Purple swing trend just below fibs 50 at 120.36. The price then slid down to white support at 120.35before re-trace. Well, trigger has been pulled. I set tp at 33 pips just below the fibs 100 (previous top), sl at 40.
