Thread: Trading Made Simple

Originally Posted by ;

quote Hi Emm, I Think you have Mtly, Wkly Daily Swing levels? Any more? What code are you using for these Levels? Cheers! Sachu

For trading extended term Positions, use only the Monthly swing amounts. There are historic swing amounts (usually go back to a number of weeks) and you will find recent swing amounts, the most recent ones is important for me to select where I'd buy of market. The historic levels are my goals.
As soon as you have identified the MN swing amounts, then you fall down to the Weekly and then look for the market type/conditions.
Monthly and Weekly updates and preparation you do every week following the market is closed.

The Daily is where you will do most of the hard work.... I.e. the actual trading.

Colours don't matter since the market is colour blind.

Example below:



NZDCAD is buy for many several days

then Weekly breakout

Originally Posted by ;

quote Thanks for this gem of knowledge. Just watch me mess up again lol

Don't worry about messing up.
I mess up sometimes and learn how to clean up my mess.
That is how one learn to exchange in and out of 'good and bad' markets.
You keep counting those hours when you reached 10,000 trading hours you would have heard tons which others will merely envy.

Originally Posted by ;

quote For trading long-term Positions, utilize no more than the Monthly swing levels. There are historical swing levels (generally return to a number of months) and you will find recent swing levels, the latest ones is very important for me to select where I'd buy of market. The historical levels are my goals. When you have identified the MN swing levels, you fall down into the Weekly and search for the market type/conditions. Weekly and monthly upgrades and preparation you do each week after the market is closed. The Daily is where you will do most of the work....

Thanks a lot for that candid explanation and the indiion of a Master Bull Candle.

Originally Posted by ;

quote considering the Weekly, it is interesting the way the market go into gray areas of WRBs , some traders think in 'stop searching' so that they trade without stop loss, while some other traders think it is the way the market works in understanding where to fulfill orders. image

After a proper view I decided it?s too risky to exchange this pair whatsoever.

I must have combine it a couple weeks earlier for long.

A good entry would have existed 70-- final TP approximately 0.73-07350.

Everything above has more wicks in weekly and a tough reverse in management 0.70 or deeper.

I don't have any reason for a short as well, no clear image, no entry for me.

Originally Posted by ;

quote After a proper view I chose it?s too risky to exchange this pair in any direction. I should have join it a couple of weeks. A good entry could have been around 70-- final TP around 0.73-07350. Everything above has more wicks in per week and a challenging reverse in direction 0.70 or deeper. I don't have any reason to get a short as well image.

Let us wait and see whether it enters the 'distribution zone' - 0.7514 and 0.7550, then look for D1 installation for possible sell.
As of today, it's still buy following the weekly. It will not reverse simple before it goes sideways range.

Originally Posted by ;

quote Thank You a lot for This candid explanation and the indiion of a Master Bull Candle.

Not a 'Master Bull Candle'... that Weekly candle has important meaning which we utilize to determine the Market Sort to exchange and if you want to exchange with Price Action without any indiors. Time to get rid of this TDI and learn to read PA and price momentum.

@Emmanuel,

I am still getting the hang of taking trades based on the engulfing candle method. I marked these charts using a yellowish line. Are these legitimate and do you have/have not picked the very same entrances (without the advantage of upper TF analysis)? Notice I attempt to trade away from the market base line.

Originally Posted by ;

@Emmanuel, I'm still getting the hang of taking trades based on the engulfing candle method. I researched these charts using a line with my interpretation of those rules in this circumstance. Are these valid and would you have/have not chosen the same entrances (without the advantage of upper TF analysis)? Note, I try to trade away from the market base line. picture image image image image picture

Hi bythepound,

there are two different kinds of engulfing pub patterns.
You need to see them using the price bar chart rather than the HA candles.

I emphasized both different BUEB/BEEB and BUOB/BEOB patterns on one of your charts.
Take note of those engulfing bars which are Outside Bars.




I understand many H4 swing traders utilize the TDI's MBL yellowish lineup as filter to trade. This means they will have fewer transactions than those who trade looking at Price Action and the use of current Support/Resistance to the two timeframes W1 and D1 with regard. I wouldn't trade against the timeframes W1 and D1 when the market is in narrow range. You must observe the swing top and swing low in the chart timeframe the preceding 2 ~ 3 months, and also knowing' OHLC.

Searching for engulfing pubs at key support/resistance is much better than simply using the PAC for installations. You may be in the market 1 to 2 pubs early than those.
I recall Huge E in his ancient trading times took sell transactions when the PA shut below the PAC High and buy trade when PA close above the PAC Low. Later on, he substituted the PAC High Low with his 5EMA price, Alter 3.

Concerning the Market Base Line, its default is interval 34, this means you are looking at the 34-period typical of the RSI data. How many H4 pubs are there in 1 week, if you are on trading that is H4? The short term momentum default is two bars vs 7 pubs (Green / Green), the number of pubs (period) would you need to compare the brief term momentum with?

In my D1 chart trading, I alter that MBL to span 20 (simple moving average). This means I consider the price momentum of the past 20 days. I compare the price momentum of the previous 3 days and also the previous 7 days along with the previous 20 days.
On the my Weekly analysis, I don't look at the TDI. More significant is that the Price Action found on the Weekly and Monthly to know the market type/conditions.

There's advantage in using the greater timeframe analysis or that which Dr Alexander Edler calls 'Triple Screen Trading System'. This is exactly what high probability trading is about.

Hope this helps.

Regards,

Originally Posted by ;

@Emmanuel, I'm still getting the hang of taking trades based on the engulfing candle method. I marked these charts with a yellow line with my interpretation of those rules in this case. Are these valid and would you have/have not picked the very same entrances (without the advantage of upper TF analysis)? Note I try to trade away in the market base line. picture image image image image picture

Example utilizing the Weekly candle OHLC and search for trades on H4.

Originally Posted by ;

quote USDJPY Feb 15 near final time and it appears like it's a significant candle and final below 106.28. I wasn't predicting but if the market is trending, this occurs 80% of the time that the D1 will shut across those MN swing amounts. This week is finishing shortly, so we might not see it struck 105.22. If it does, I would be quite pleased to take of my profits and walk off. Now we watch that BRN 106.00. Just how much does it 'bounce'? However, don't jump in and start buying yet. Too early to start buying. WAIT! picture

USDJPY Week 08 Feb 19 upgrade D1:

Last Friday closed with pin bar at 106.00 is this fantastic enough to get a bullish change? We shall see what tomorrow and today bring us.
I see 105.22 nevertheless the target for this particular week, ...



H4 trading this week,
any counter-trend trade against the Weekly candle in background is risky and must be deal with Capital Protection depart when pull back 15 to 20 pips.
You see the RN and BRN above current price action - 106.50, 107.00, 107.50, etc. and also the 50EMA, 200EMA. And do not forget Friday' Close and Low.

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