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Trading Made Simple for Day Charts

  • #2,501
  • Jun 4, 2017 9:51pm Jun 4, 2017 9:51pm
Quoting Deichkind
{quote} What's the direction of the overall trend? What does the weekly say? look at the chart? where did you have make more pips/money short or long on the last 2 months?
Hi, Deichkind & Sachu

Yes. Thank you for your reply.

Quoting Blue[highlight=White
sky8635;9930050[/highlight]]{quote} My EURUSD Sell trade hit the SL. I will make a introspection on Saturday.
It is the same problem with EURUSD. Not follow HTF Trend, catching the falling knife.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD TMS For W Chart 20170601.PNG Size: 41 KB


Although It looks like reversal at the near Resistance making a starbar. but the TDI Green line didn't turn round.
Don't trade into S/R level and try to catch the falling knife.

Questions:
1- How to know the end of one trend?
2- How one can be sure that is an actual trend reversal or just a pullback? see #post518 & #post519
what is your point of view?

Lessons Learned:
1- Follow HTF Trend
2- Sit on your hands, don't to catch the falling knife
3- Only trade the clear trend
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • #2,502
  • Jun 6, 2017 11:20pm Jun 6, 2017 11:20pm
EURJPY SELL TRADE ( A Retracement Trade)

1- W Chart
It looks like reversal near 200ma. TDI go flatted and downward.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYmWeekly 20170607.png Size: 52 KB


2- D Chart
Enter:
(1) APB change color and make a large body
(2) Break fractal
(3) TDI cross and go downward
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYmDaily 20170607.png Size: 48 KB
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • #2,503
  • Jun 7, 2017 1:11am Jun 7, 2017 1:11am
Quoting Bluesky8635
EURJPY SELL TRADE ( A Retracement Trade) 1- W Chart It looks like reversal near 200ma. TDI go flatted and downward. {image} 2- D Chart Enter: (1) APB change color and make a large body (2) Break fractal (3) TDI cross and go downward {image}
looks like a good setup, but I think you are in front of a resistance zone, imo better to wait on a long setup to trade in the direction of the overall trend
  • #2,504
  • Edited 1:50am Jun 7, 2017 1:33am | Edited 1:50am
Quoting Deichkind
{quote} looks like a good setup, but I think you are in front of a resistance zone, imo better to wait on a long setup to trade in the direction of the overall trend
Yes. I know. This is a retracement trade.

And Yesterday the candle didn't closed below pre-Fractal. Potential threat. Hope it can be closed below pre-Fractal(the support level) today.

I will watch on it closely and quickly exit if necessary.

Best Regards.
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • #2,505
  • Jun 7, 2017 2:49am Jun 7, 2017 2:49am
:-)
If anyone needs something like this
Attached File(s)
File Type: ex4 BUTTONS.ex4   16 KB | 283 downloads
  • #2,506
  • Jun 7, 2017 3:09am Jun 7, 2017 3:09am
Hello, everyone, what do you think? I bow to sales, a question in search of a setup.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 131 KB
  • #2,507
  • Jun 8, 2017 6:48pm Jun 8, 2017 6:48pm
Quoting ejlestrado
Hello, everyone, what do you think? I bow to sales, a question in search of a setup. {image}
look like same with my eurjpy trade
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • #2,508
  • Jun 12, 2017 11:26pm Jun 12, 2017 11:26pm
Let's see where this one goes.

Day has already crossed on TDI and given 200 points, so this is more of a re-entry on H4

Good TDI Cross with PA moving below the recent Fractal Lows as well as crossing below 200ema

On the downside, TDI is heading back into 32 zone
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4 6-12-2017.png Size: 63 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #2,509
  • Jun 12, 2017 11:58pm Jun 12, 2017 11:58pm
Quoting Bluesky8635
{quote} Hi, Britpip What do you think about my trade on EURNZD Day Chart? I am learning. EURNZD Trade Sell On Day Chart #1 Entry: 1- Divergence 2- APB Change color 3- TSL Downward 4- RR=2:1 Now the #1 is BE. #2 Pending order below StarBar (SL=130Pips, TP=260Pips, RR=2:1) Thanks in advance. regards {image}
EURNZD Sell Trade ( Re-enter )

Enter reason:
1. Last bar is pinbar.
2. Pending Sell order below last bar. and it is trigglered.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDmDaily-20170613.png Size: 64 KB
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • #2,510
  • Jun 13, 2017 12:29am Jun 13, 2017 12:29am
Quoting Britpip7
Let's see where this one goes. Day has already crossed on TDI and given 200 points, so this is more of a re-entry on H4 Good TDI Cross with PA moving below the recent Fractal Lows as well as crossing below 200ema On the downside, TDI is heading back into 32 zone {image}
Hi, Britpip

I am using your ADD-Ons strstegy.

EURAUD Sell trade ( Add-Ons )

Enter:
1. Trend reversal. Break Support and the last low.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDmDaily-20170613.png Size: 63 KB
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • #2,511
  • Jun 13, 2017 10:08pm Jun 13, 2017 10:08pm
Quoting Bluesky8635
{quote} Hi, Britpip I am using your ADD-Ons strstegy. EURAUD Sell trade ( Add-Ons ) Enter: 1. Trend reversal. Break Support and the last low. {image}
Hopefully it will get some price action support soon
"To live with Passion, it takes Courage and Grace to survive"
  • #2,512
  • Jun 13, 2017 11:01pm Jun 13, 2017 11:01pm
Quoting Britpip7
{quote} Hopefully it will get some price action support soon
Master Britpip

what do you think about my EURAUD Sell Trade?

Should I close the trade? Because the TDI go flatten and the PA didn't break the Pre-Fractal really yesterday.

What is your Exit Strategy? I am puzzling the exit.

Thanks advance.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDmDaily-20170614.png Size: 39 KB
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • #2,513
  • Jun 13, 2017 11:18pm Jun 13, 2017 11:18pm
Quoting Bluesky8635
{quote} EURNZD Sell Trade ( Re-enter ) Enter reason: 1. Last bar is pinbar. 2. Pending Sell order below last bar. and it is trigglered. {image}
Same Question about EURNZD Sell Trade.

No really break out the Support.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDmDaily-20170614.png Size: 40 KB


PS: Enter a buy order to hedge the sell order at H4 TF.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDmH4-20170614.png Size: 40 KB
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • #2,514
  • Edited 1:34pm Jun 14, 2017 12:51pm | Edited 1:34pm
Quoting Bluesky8635
{quote} Master Britpip what do you think about my EURAUD Sell Trade? Should I close the trade? Because the TDI go flatten and the PA didn't break the Pre-Fractal really yesterday. What is your Exit Strategy? I am puzzling the exit. Thanks advance. {image}
PA pushed lower overnight, so the last I looked at this it was still trending lower on the H4 and is now in profit. Your last candle is moving lower and is just about supporting the trend lower.

For how I trade, I will let this run for now until it hits my TP levels - Cavemanager is set up to take profits per my trading plan.

The key aspect here is to watch the chart and if you are not comfortable with letting it run, close and wait for a new entry.

Day chart is showing down.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud day 6-14-2017.PNG Size: 19 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #2,515
  • Jun 14, 2017 1:49pm Jun 14, 2017 1:49pm
Quoting Bluesky8635
{quote} Same Question about EURNZD Sell Trade. No really break out the Support. {image} PS: Enter a buy order to hedge the sell order at H4 TF. {image}
The day chart on EURNZD is running into a 100/200ema zone. I would not trade this pair on the day until there is a breakout. Looks to be heading sideways at the moment with the last 2 H4 candles as dojis!
Attached Image
"To live with Passion, it takes Courage and Grace to survive"
  • #2,516
  • Jun 14, 2017 10:19pm Jun 14, 2017 10:19pm
Quoting Britpip7
{quote} PA pushed lower overnight, so the last I looked at this it was still trending lower on the H4 and is now in profit. Your last candle is moving lower and is just about supporting the trend lower. For how I trade, I will let this run for now until it hits my TP levels - Cavemanager is set up to take profits per my trading plan. The key aspect here is to watch the chart and if you are not comfortable with letting it run, close and wait for a new entry. Day chart is showing down. {image}
Here is the latest on the euraud.

TP1 hit at 80 pips. 50% of the trade still running with trailing stop now in place.

Now that the trade has provided a profit and there is no loss risk, I can look for new trade entries.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4 6-14-2017.png Size: 48 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #2,517
  • Jun 14, 2017 10:28pm Jun 14, 2017 10:28pm
For those of you that are interested in Cave Manager, I am attaching the settings that I use.

My settings are based on three profit settings. TP1 is for 50% at 85pips, TP2 is for 25% at 180 and TP# is for 25% and is set to 1,000 and is usually closed out by the trailing stop

this means that your trading volume must be divisible by 4
Attached File(s)
File Type: docx Britpip7 Cavemanager H4.docx   154 KB | 463 downloads
File Type: ex4 THV CaveManager v1.41 (1).ex4   63 KB | 438 downloads
"To live with Passion, it takes Courage and Grace to survive"
  • #2,518
  • Jun 14, 2017 11:08pm Jun 14, 2017 11:08pm
eurnzd may be worth watching with an APB colour change in play on the day chart

H4 is showing convergence, so there is a good possibility of a reversal
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPNZDDaily 6-14-2017.png Size: 47 KB
Click to Enlarge Name: GBPNZDH4 6-14-2017.png Size: 47 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #2,519
  • Jun 16, 2017 4:29am Jun 16, 2017 4:29am
Quoting Britpip7
For those of you that are interested in Cave Manager, I am attaching the settings that I use. My settings are based on three profit settings. TP1 is for 50% at 85pips, TP2 is for 25% at 180 and TP# is for 25% and is set to 1,000 and is usually closed out by the trailing stop this means that your trading volume must be divisible by 4 {file} {file}
Hi, Master

Thank you for your share.

1. Why do you set TP1=85pips? According to 1.5*ATR(7), right?

2. That means we trade single enter at one time, SE/ME, right?

3. TS=SL=TP1? do not use Pre-candle H/L?

Regards
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • #2,520
  • Jun 16, 2017 9:28am Jun 16, 2017 9:28am
Quoting Bluesky8635
{quote} Hi, Master Thank you for your share. 1. Why do you set TP1=85pips? According to 1.5*ATR(7), right? 2. That means we trade single enter at one time, SE/ME, right? 3. TS=SL=TP1? do not use Pre-candle H/L? Regards
I was seeing too many trades not hitting my TP levels so I took time off from trading and spent a long time testing strategies. I came to a conclusion on the higher time frames for the pairs I was testing that I was expecting too much and the greed glands were in overdrive. The results showed that when the trades triggered, 85 pips was hit on a consistent basis so that's what I went with for TP1 for 50% of the trade. About 50% of the trades died at that point and then 180 became TP2 for 25%. For TP3, this is left open at 1,000 pips and managed with the trailing stops so that some of the larger moves can be hit.

Initial SL is 115pips minimum but I will reset it to a recent H/L or nearest Fractal / Support / Resestance.

My main pairs are EURAUD / GBPAAD / EERNZD / GBPNZD as these not only have good ATR7 values but when they reverse, they can often move several hundred pips.

Again, trading is all about finding a style that fits your personality - I prefer to place it and leave it as I do not have the time to sit and watch charts - hence the higher time frames.
"To live with Passion, it takes Courage and Grace to survive"
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