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A very simple system - trade with arrow

  • #1,941
  • Apr 12, 2017 3:22am Apr 12, 2017 3:22am
the charts of the aussie....on the daily price was rejected on the previous 2 days and closed with wicky bottoms off S/R..on the 4 hour which will close in 40 minutes, the candle is looking like a bueb and on the 1 hour you see price rejecting a TL...I do not have a long here but I do in E/A and the pa here puts my e/a trade in my favour...let's see
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD D1 (04-12-2017 0916).png Size: 37 KB
Click to Enlarge Name: AUDUSD H4 (04-12-2017 0916).png Size: 40 KB
Click to Enlarge Name: AUDUSD H1 (04-12-2017 0917).png Size: 40 KB
the cautious seldom err....C
  • #1,942
  • Apr 12, 2017 4:28am Apr 12, 2017 4:28am
had just gone short looking for continuation as I perceive strong sterling
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP m15 (04-12-2017 1027).png Size: 47 KB
the cautious seldom err....C
  • #1,943
  • Apr 12, 2017 4:55am Apr 12, 2017 4:55am
Quoting pips29
had just gone short looking for continuation as I perceive strong sterling {image}
Hi Pips,
Thanks for the charts. Following with interest.
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #1,944
  • Apr 12, 2017 4:58am Apr 12, 2017 4:58am
Quoting pips29
US oil H4 with Ucad overlayed on it...the -ve correlation is beginning to show , oil seems to be targeting higher which means ucad will be going lower..let's see how this play out. {image}
this is where oil is after the above post 2 days ago..price is approaching the 1st level...will it be broken? I seriously do not know
Attached Image (click to enlarge)
Click to Enlarge Name: USOil H4 (04-12-2017 1056).png Size: 45 KB
the cautious seldom err....C
  • #1,945
  • Apr 12, 2017 5:52am Apr 12, 2017 5:52am
Quoting pips29
{quote} the daily down to 15 min is showing a downtrend with the 10ema below the 34 ema and price was below the 34 ema..Take a look at the 50 cci..it's below 0 for bearish..the trade was a pending sell on the 15 min...the 50cci has not crossed down below 0 but I thought if p/o was to be trigerred and when it did the cci would have dip below the 0 line. It sure did but the next candle brought it back up..As the trend on both 1 and 4 hour was pointing down the entry was in line with the htf . I have moved my stop down to have a r;r=1:1 {image} {image}...
I see. Do you think the sell now in EURJPY is good? I think it fulfills the criteria you mentioned.

Edt: my understanding of the criteria is 10ema below the 34 ema and price was below the 34 ema on H1, H4 and D1, and cci50 below 0 on M15.
Attached Image (click to enlarge)
Click to Enlarge Name: ej.png Size: 20 KB
  • #1,946
  • Apr 12, 2017 6:13am Apr 12, 2017 6:13am
Quoting antonym
{quote} I see. Do you think the sell now in EURJPY is good? I think it fulfills the criteria you mentioned. Edt: my understanding of the criteria is 10ema below the 34 ema and price was below the 34 ema on H1, H4 and D1, and cci50 below 0 on M15. {image}
besides what you mention above you must also look for pa at S/R...this line is on my chart and the HA candle on the 4 hour is actually blue/green..I will wait for pa to go below this level and then down to the 15 min to find an entry...there are better trades elsewhere I'm sure..first chart is daily followed by the 4 hour EDit: it might actually be a retracement up on a retest of this level...the cci has started to pointing up...just need to be patient and let pa tell us
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY D1 (04-12-2017 1210).png Size: 41 KB
Click to Enlarge Name: EURJPY H4 (04-12-2017 1212).png Size: 39 KB
Click to Enlarge Name: EURJPY m15 (04-12-2017 1220).png Size: 35 KB
the cautious seldom err....C
  • #1,947
  • Apr 12, 2017 6:34am Apr 12, 2017 6:34am
the e/u might be the better trade with S/R further down..I'm in this trade since yesterday EDit: the 15 min chart as well
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD D1 (04-12-2017 1234).png Size: 58 KB
Click to Enlarge Name: EURUSD m15 (04-12-2017 1237).png Size: 53 KB
the cautious seldom err....C
  • #1,948
  • Apr 12, 2017 6:48am Apr 12, 2017 6:48am
Quoting pips29
had just gone short looking for continuation as I perceive strong sterling {image}
taking 1/2 off and the balance locked in at b/e= targeting .8472 as the 200 ema on the daily is @.8470. I just found this out as my chart does not show the 200 ema on the daily as this platform allows only one option unlike MT4
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP m15 (04-12-2017 1244).png Size: 47 KB
the cautious seldom err....C
  • #1,949
  • Apr 12, 2017 6:58am Apr 12, 2017 6:58am
anyone fancy a gamble that this will also end in a pinbar...what are the odds? even,less or more...better than betting at the roulette table.???.Norman Leigh and his gang of 13 broke the bank at the French Riveria
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD D1 (04-12-2017 1254).png Size: 39 KB
the cautious seldom err....C
  • #1,950
  • Apr 12, 2017 7:04am Apr 12, 2017 7:04am
Quoting pips29
the e/u might be the better trade with S/R further down..I'm in this trade since yesterday EDit: the 15 min chart as well {image} {image}
I see. I also draw a s/r around that zone for EU. But I missed the s/r you mentioned on EJ. Last H4 candle on EJ does print a bullish engulfing which should warn me against entry.

For the EU sell trade entered yesterday, I see that the H1 10ema is still above 34 ema at the time of entry. Wouldn't that fail to fulfill the criteria? And where should the stop be placed for this type of entries?
  • #1,951
  • Apr 12, 2017 7:05am Apr 12, 2017 7:05am
Quoting pips29
anyone fancy a gamble that this will also end in a pinbar...what are the odds? even,less or more...better than betting at the roulette table.???.Norman Leigh and his gang of 13 broke the bank at the French Riveria {image}
Triple pinbar is very rare. If that happens it's very bullish.
  • #1,952
  • Apr 12, 2017 7:16am Apr 12, 2017 7:16am
Quoting antonym
{quote} I see. I also draw a s/r around that zone for EU. But I missed the s/r you mentioned on EJ. Last H4 candle on EJ does print a bullish engulfing which should warn me against entry. For the EU sell trade entered yesterday, I see that the H1 10ema is still above 34 ema at the time of entry. Wouldn't that fail to fulfill the criteria? And where should the stop be placed for this type of entries?
yes, you are correct but you pay attention to the chart you are trading. on the 15 min price was below both the 10/34 ema and the 1 hour was a bearish candle though price was still above..it's good enough to take the trade on the 15 min but if you were trading the hourly chart you will probably not take it..of course the perfect scenario is when things line up on the higher tf . It's just the risk you have to take on the 15 min tf..and that's why I like the 1 hour chart better but as this is a 15 min scalping method, I thought I will just do that
the cautious seldom err....C
  • #1,953
  • Apr 12, 2017 7:23am Apr 12, 2017 7:23am
quite a good r;r if you go long now like risking 20 for 60 Edit: I like the odds and have just taken plunge
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD H1 (04-12-2017 1322).png Size: 40 KB
Click to Enlarge Name: AUDUSD H1 (04-12-2017 1327).png Size: 43 KB
the cautious seldom err....C
  • #1,954
  • Apr 12, 2017 9:02pm Apr 12, 2017 9:02pm
Quoting pips29
quite a good r;r if you go long now like risking 20 for 60 Edit: I like the odds and have just taken plunge {image} {image}
I see that the trade goes nicely in profit this morning. congrats!

I was hesitant about entry at that time and prefer a lower price to buy. It did move to a lower price later but I was asleep at the time.
  • #1,955
  • Apr 13, 2017 1:04am Apr 13, 2017 1:04am
Quoting pips29
quite a good r;r if you go long now like risking 20 for 60 Edit: I like the odds and have just taken plunge {image} {image}
Hi Pips, Great trade.
Was the setup purely based on an expected bounce off support?
Any other factors involved?
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #1,956
  • Apr 13, 2017 2:37am Apr 13, 2017 2:37am
Quoting pips29
gone short..will enter higher up near 1.42 should price decides to make a LH there {image}
It did make a LH there and down she goes..all out with good profits..taken profits a bit too soon on the aussie as well
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H1 (04-13-2017 0836).png Size: 54 KB
the cautious seldom err....C
  • #1,957
  • Apr 13, 2017 2:52am Apr 13, 2017 2:52am
Quoting Islandfx911
{quote} Hi Pips, Great trade. Was the setup purely based on an expected bounce off support? Any other factors involved? Regards Rob
Rob, it was based on S/R and those wicks were telling me not to short...I have to decide whether to go long and weighing out the odds I took the move...Please note the wicks were not telling me to long BUT only Not to short...I was actually waiting for price to be nearer the bottom of the box I drew but on many ocassions when I did that I missed the entry and the trade altogether..in this case I decided a 20 pips stop instead of a 10 pips if entry was lower..by the look of it price should hit .76 (brn)
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD D1 (04-13-2017 0850).png Size: 48 KB
the cautious seldom err....C
  • #1,958
  • Apr 13, 2017 3:00am Apr 13, 2017 3:00am
My trade with the g/u ended in some 40 pips...still looking bullish and the next level @1.27 is on the cards I believe..let's see if the present level @1.2550 holds
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD D1 (04-13-2017 0855).png Size: 43 KB
Click to Enlarge Name: GBPUSD H4 (04-13-2017 0855).png Size: 36 KB
Click to Enlarge Name: GBPUSD m15 (04-13-2017 0856).png Size: 38 KB
the cautious seldom err....C
  • #1,959
  • Apr 13, 2017 3:06am Apr 13, 2017 3:06am
oh yeah, before I forget I took a short during Sydney open at the 200 ema of the 4 hour.. my previous entry did not do too well ,ended with 5 pips profit..will take some off soon
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 (04-13-2017 0902).png Size: 55 KB
the cautious seldom err....C
  • #1,960
  • Apr 13, 2017 3:28am Apr 13, 2017 3:28am
I am waiting for price to make a move below the 200 ema before getting short
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP D1 (04-13-2017 0927).png Size: 32 KB
the cautious seldom err....C
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