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A very simple system - trade with arrow

  • #1,961
  • Apr 13, 2017 3:36am Apr 13, 2017 3:36am
Hi Pips,
How much emphasis do you put on yesterdays high / low as support / resistance?
Your trade order needs to be in the right place at the right time.
  • #1,962
  • Apr 13, 2017 3:41am Apr 13, 2017 3:41am
Quoting pips29
{quote} 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 {image}
below is the 4 hour chart and I added some levels below price as I will be looking to short..I think a top has been made for now and price should move south...it's looking for a good entry that's important now, where is the LH???? On the 1 hour chart, is that a shampoo forming?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USOil H4 (04-13-2017 0940).png Size: 40 KB
Click to Enlarge Name: USOil H1 (04-13-2017 0946).png Size: 43 KB
the cautious seldom err....C
  • #1,963
  • Apr 13, 2017 3:42am Apr 13, 2017 3:42am
Quoting pips29
{quote} 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) {image}
Hi pips29,

I am looking at the s/r levels on your chart for AUDUSD. Would you discuss a bit more any reason you didn't draw 0.7750 as a s/r line?

Thank you.
  • #1,964
  • Apr 13, 2017 3:52am Apr 13, 2017 3:52am
Quoting pips29
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 {image}
Price is touching the H4 200ema on AUDUSD as well. Would you discuss a bit about any reason why EU is preferred for short, besides the 200ema?
  • #1,965
  • Apr 13, 2017 4:07am Apr 13, 2017 4:07am
Quoting antonym
{quote} Hi pips29, I am looking at the s/r levels on your chart for AUDUSD. Would you discuss a bit more any reason you didn't draw 0.7750 as a s/r line? Thank you.
I nearly missed taking 1/2 off for 21 pips on e/u...here's how I would draw the level which I got on my other platform ,MT4..I place more emphasis towards recent pa and on the a/u chart I drew the level lower
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD D1 (04-13-2017 0959).png Size: 48 KB
the cautious seldom err....C
  • #1,966
  • Apr 13, 2017 4:18am Apr 13, 2017 4:18am
gone long cable as price came back up the S/R
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD m15 (04-13-2017 1019).png Size: 41 KB
the cautious seldom err....C
  • #1,967
  • Apr 13, 2017 4:30am Apr 13, 2017 4:30am
please read pa correctly and understand why wicks are formed...I know of a self claimed "guru" who was taking longs claiming to understand pa and his indicator
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H4 (04-13-2017 1026).png Size: 52 KB
the cautious seldom err....C
  • #1,968
  • Apr 13, 2017 5:04am Apr 13, 2017 5:04am
I am pondering whether TL (A) is the correct one?..price has reached the 200 ema and there is S/R ( not drawn)
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 63 KB
the cautious seldom err....C
  • #1,969
  • Apr 13, 2017 5:12am Apr 13, 2017 5:12am
Quoting antonym
{quote} Price is touching the H4 200ema on AUDUSD as well. Would you discuss a bit about any reason why EU is preferred for short, besides the 200ema?
the chart explains it and I also have e/a short and so looking for bearishness of the euro
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 (04-13-2017 1110).png Size: 63 KB
the cautious seldom err....C
  • #1,970
  • Apr 13, 2017 5:16am Apr 13, 2017 5:16am
Quoting pips29
gone long cable as price came back up the S/R {image}
this is a bigger stop than I would like as pa on the 1 hour was not bullish yet at time of entry and the 4 hour also printed a red candle...I am just relying on this tf to see the move up as they say " any move up/down must come from the lower time frame"
the cautious seldom err....C
  • #1,971
  • Apr 13, 2017 5:21am Apr 13, 2017 5:21am
are you guys looking at any pairs to trade,,,,can't seem to find one now...if you have, post it and we can look at it together
the cautious seldom err....C
  • #1,972
  • Apr 13, 2017 5:50am Apr 13, 2017 5:50am
Quoting pips29
are you guys looking at any pairs to trade,,,,can't seem to find one now...if you have, post it and we can look at it together
I am thinking about a possible long trade on EURCAD at around 1.4070. It's the same as you have buy at EURCAD on Apr 11. It seems to me the s/r could still be in potency. But I am not sure.

It seems to me GBPUSD on H4 is also good for a sell (I know you are in a buy trade), there is a large candle if applying the look left principle to find the large sell candle, which happens at Mar 28 16:00.
And last two H4 GBPUSD candle is more or less like spinning top.
  • #1,973
  • Apr 13, 2017 6:03am Apr 13, 2017 6:03am
Quoting pips29
I am pondering whether TL (A) is the correct one?..price has reached the 200 ema and there is S/R ( not drawn) {image}
That's the questions I am wondering as well. There are so many points to pick to draw the trendline....I think there is no correct or wrong answer...
  • #1,974
  • Apr 13, 2017 6:19am Apr 13, 2017 6:19am
Quoting antonym
{quote} That's the questions I am wondering as well. There are so many points to pick to draw the trendline....I think there is no correct or wrong answer...
I will put more weight on TL (A) as there are confluence of other things...why not this pair rather than e/cad...euro is the weakest currency on the meter strength indi...please show me the post where I had taken a long on ecad on the 11th ..I can't find it
the cautious seldom err....C
  • #1,975
  • Apr 13, 2017 6:26am Apr 13, 2017 6:26am
Quoting pips29
morning scalp on e/cad...all out...just a 15 min trade with 10/34 ema trend following on this time frame...it's ct on htf {image}
Ok. This is the post.
  • #1,976
  • Apr 13, 2017 6:32am Apr 13, 2017 6:32am
Quoting pips29
{quote} I will put more weight on TL (A) as there are confluence of other things...why not this pair rather than e/cad...euro is the weakest currency on the meter strength indi...please show me the post where I had taken a long on ecad on the 11th ..I can't find it
Yes I think you are right. Maybe USDCAD is a better choice.
  • #1,977
  • Apr 13, 2017 6:35am Apr 13, 2017 6:35am
the reasons I rather long the loonie..1.price is coming off a TL (day chart) 2. price is bouncing off the 200 ema (day chart)3..price rejected a pivot 4. previous candle was bullish outside bar and 5..go long when price closes above the high of previous candle..6..red news from the US might screw this up before the candle closes...and that's why Uk news @9.30 am and US news @1.30 pm....before H4 candle closes...this is why traders get screwed with the news...& 7 that's why we have to establish what direction the mm are planning to do and finally the mm are your friend when you get it right and get fucked when wrong
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 64 KB
the cautious seldom err....C
  • #1,978
  • Apr 13, 2017 6:36am Apr 13, 2017 6:36am
Quoting pips29
gone long cable as price came back up the S/R {image}
I am wondering if you could discuss how the 1.25300 s/r on GBPUSD is drawn? It does not seem to be on any significant high/low on Daily. I find Daily candles close above it then below it several times. This is also true on H4, price close above it many times previously

Edit: I found its actually 1.25500. The price tag is hidden so I guess wrongly. Sorry about the mistake. I think 1.25500 seems to make more sense
  • #1,979
  • Apr 13, 2017 6:45am Apr 13, 2017 6:45am
Quoting Islandfx911
Hi Pips, How much emphasis do you put on yesterdays high / low as support / resistance?
sorry, I must have missed your post and the answer is not much unless ppa has also occured there before
the cautious seldom err....C
  • #1,980
  • Apr 13, 2017 6:46am Apr 13, 2017 6:46am
Quoting antonym
{quote} I am wondering if you could discuss how the 1.25300 s/r on GBPUSD is drawn? It does not seem to be on any significant high/low on Daily. I find Daily candles close above it then below it several times. This is also true on H4, price close above it many times previously Edit: I found its actually 1.25500. The price tag is hidden so I guess wrongly. Sorry about the mistake. I think 1.25500 seems to make more sense
yes, it's the half rn
the cautious seldom err....C
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