Nice ch, Emm! But surely you supposed WCC on the film, not WRB.Originally Posted by ;
 |
 |
Nice ch, Emm! But surely you supposed WCC on the film, not WRB.
There's still another 100 pips move to capture today... when that WRB with 'hidden gems'get stuffed.
Lt;aim the area between 1.2950 and 1.3040gt; at the D1 chart
you are right that's a WCC seen only in the Weekly charts.
But with WRB, we see them in each chart timeframe from Monthly, Weekly, Daily H4, H1, down to M15 and M1. People WRB with 'hidden jewels' are great to trade.
Example is the H4 WRB after the breakout. That WRB can lead to price fall back today before it decides what to do.
Recall these five famous quotes from the late Mark Douglas :
1. Anything could happen.
2. You do not need to understand what's going to happen next in order to generate money.
3. There's a random distribution between wins and losses for any given pair of factors that define an edge.
4. An advantage isn't anything more than a sign of a higher probability of one thing happening over another.
5. Every moment on the market is unique.
Five great reasons when one loses his money trading retail place forex.
Keep It Easy:
Just examine the candles, and ask - are the candles big or small at the last change.
Assess - what's the short-term trend, what's the long-term trend.
Assess - is price at a consolidation or near a consolidation.
Good Trading,
we've EURAUD exit HA candle if D1 May 08 closed.
EURUSD and EURJPY still going strong with fairly good promotion momentum. .
EURUSD caution with yesterday D1 WRB and look closely at the TDI PL and VB respsonse to this price action.
EURJPY - as long as USDJPY stays in very narrow range trading, EURJPY and AUDJPY and GBPJPY can see lower lows.
EURCAD and EURNZD lost the majority of it selling momentum yesterday and we observe closely the way that it will trade now. Tightening trailing stop is what I shall do.
Don't Overtrade, remember I pick only 1 pair from each of the five groups from my 20 pairs.
Counter-trend transactions D1 chart , reversal with TDI cross:
GBPAUD
GBPCAD
GBPNZD
Easy rule: In case you hadn't done your weekend homework work and don't own a Large Picture of these 3 pairs, you don't have a commerce plan therefore you don't trade.
Hello all
can anybody guide me to the summary of this egy?
Due
I will give you an Introduction to Trading Made Simple
Spend the opportunity to read and find out, it's worth the effort you invest on your own.
Read, these below and follow those links.
Trading Made Simple for beginners : Post#52,707
A short history by pioneer celebrity snarlyjack Article#110
Our overdue OP eelfranz aka Substantial E spent 6,000 hours Post#6 and he evolved as a trader and proceeded on and developed 2 trading procedures.
5-Method and 21/233 Method Post#3018, Post#4104,
After months of postings and answering many frequently asked questions FAQs,
eelfranz made the leap into the new Trading Made Simple thread on 26 April 2011. Post#4432
In Post#1, he explained how he traded the H4 chart span and he also traded the H1 chart during the NY session. This suited his life being retired and the time zone that he lived. Sadly he passed away in October 2012.
Two very important articles: Post#261 and Post#647, give a very simple summary of what this 5-Method is and also the simple forex material we check before we look for the TDI installments to trade.
TMS 5-Method Basic Rules: Post#53,841
Constantly check the #1- Price Action first, then #2- TDI PostNumber3142
Big E needed us to create this TMS thread collectively... Post#4,432
Best of significant E Components 1 and 2 are in this post Article#76,986
The original indiors and template #8230; PostNumber25
Recommendations:
Read of Big E#8217; articles... 861posts from the Craig Harris Stochastics thread and 463 articles in this TMS thread....and make notes on those training charts he posted. Pay attention whenever he mentioned PA and what you see on his training charts.
Learn the fundamental things about forex trading first. A fantastic place to begin is http://www.babypips.com/school
If you want to trade the way Substantial E described in Post#1, make sure you utilize his template, then the Synergy HA candles and utilize that TDI Red Green version them in Post#25 .
Learn Post#261 and Post#647 nicely since both of these articles are the survival kit.
Notice that the TDI Red Green version repaints all the pubs in history so that you can't use this once you do back-testing by scrolling back your charts. The better way is to run this in live market and trade the TMS setups according to what you find without even refreshing your charts. If you want to trade with entries on the APB#1 and APB#2 candles, always await the price bar/candle to close and utilize the TDI to validate that the setup.
About the Trader Dynamic Index aka TDI:
It is an indior Utilizing numerous moving average of the RSI data. The RSI comes from the market actual price consequently the TDI is always suggested the Price Action. To have as good understanding of the TDI, read this novel by John Hayden.
RSI: The Complete Guide [click to download] .
I believed I saw a 'Arjun candle' a while back...
If you don't understand what an Arjun candle would be, then you have to learn from LE1.
https://forexintuitive.com/discussio...ing-pairs.html
GBPAUD heading to its 100% of its Average Weekly Range from this Week Open, that's is a good 330 pips.
TMS is simple and can be simple.
The 5EMA, Average Price, Shift 3 is just use for direction.
When the price action is over its 5EMA, its buy directio.
In the event the price action is under its 5EMA, its market direction.
But to look at the Greater amount price action, I like to see that the D1 and W1 candles in the background.
Trading can be quite visual with a few trading tools to help us in our study and to train our 3 eyes to observe that the higher timeframe action bars/candles.
Once we have developed the abilities to see higher timeframe price action we can shed using a few tools.
Have fun trading.
Well, I mention that many times before. I don't trade reversals like Large E did. He had been too competitive to select entries using APB#1 and #2 with the TDI because his sign.
I prefer to exchange when the new 'fad' is established. Wait for the reversal, then the pullback and follow the continuation of the established 'trend'.
For those 3 pairs, my selection was the same manner which LE1 would do at the beginning of the day. Have a look at the Day open and at which the 10EMA is. This 10EMA is dynamic service / resistance for the brief term intraday traders. I look at Weekly and Monthly to observe the same 10EMA as well as the 50EMA proximity which are longer term trading.
Below are the screenshots of the same 3 pairs charts taken yesterday... before the NY session.
For instance how to interpret Post#647
When wanting to enter a TDI exchange... take a moment first to watch basic 4x items... such as:
How close am I to the prior high or lo
Yes, TDI swing highs two weeks ago.
Can I be in an uptrend or downtrend. . Short long term...
Both D1 and W1 are UP but NEWS day throughout NY session, need to be quite careful.
Can I be in or close to a consolidation area
MC[3] consolidation
Will Be the previous candles small...
Yes, small bars/candles inside the MC[3].... Wait for breakout
Look at the candles on the previous reversal... big, little, what
Yes, a significant bar/candle that's that the Master Candle, follow with 3 smaller bars/candle
How does the momentum look right now (12-2, 4-6)
TDI bounce
\
Posting Permissions
Reply With Quote
