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Phx62 replied Jun 13, 2013Thanks Emmanuel.....a perfect explanation of using multi-time frames while trading only one of them......PA is king.....everything else is just trading tools.
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Phx62 replied Jun 12, 2013gbmcgee, I understand your circumstance completely, having done much the same thing for years. Let me caution you that trading the M15 is quite tricky because of the number of whipsaws. Unless I am just scalping for 10 or 20 pips, I don't trade the ...
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Phx62 replied Jun 12, 2013Entry was just based on a continuation move of the Asian session uptrend....once the candle opened and began to move up also, I entered....purely price action. As I have stated before, I keep the M15 open alongside the H1. The TDI green was crossing ...
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Phx62 replied Jun 12, 2013tenmilewalk, I have looked over all the trades you posted in the past couple of pages.....they all look good to me.....you are reading price action very well. One thing to remember, as good as the TDI indicator is, it still is a lagging ...
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Phx62 replied Jun 11, 2013Q1....I entered on candle 2 of the London session because it appeared to me that the high of the London session was set by the first candle and price would probably move down from there. Price had bounced off the weekly high (yellow line) during the ...
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Phx62 replied Jun 11, 2013When I monitor the trade and price has move 20 pips or so, I drag the SL to the top of the current candle + the spread. I have never had a trade that is moving well (like the ones today) come back and hit my SL. Personally, I won't let a trade ...
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Phx62 replied Jun 11, 2013I enter all H1 trades with a 50 pip TP and a 50 pip EMERGENCY SL. Once price moves in my direction, I may adjust the SL based on how price is moving. If I am monitoring the trade, I usually do not move the SL but will exit manually, if necessary. I ...
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Phx62 replied Jun 11, 2013Three great opportunities to trade today.... EU H1....price ran down after entry for less than 1 hour and 20 minutes.....missed my TP by 3 pips....manually closed for 178 pips. Trade was taken on a break below the 200 EMA on the 2nd candle after LO ...
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Phx62 replied Jun 10, 2013Thanks for your kind comments. I have found that the 200 EMA is really just another S/R line and sometimes it holds and sometimes it does not. Price tested the 200 on Thursday and was rejected. I tested again right after completion of the 1st trade ...
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Phx62 replied Jun 10, 2013Nice trades lastingwell......I traded EJ H1 live for 100 pips also.....a break of the Friday high and a bounce of the TDI for 50 and a break above the LO first hour candle and another bounce of the TDI for 50 more. image
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Phx62 replied Jun 8, 2013Thank you for the kind words but I am really not a teacher....I am just sharing some of the things that helped me develop a successful trading plan. This may not work for some of you because we each see and process things differently but if helps ...
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Phx62 replied Jun 8, 2013There are a couple more things I need to add concerning Pullback Candle Reversal Patterns..... 1. A VALID PCRP MUST BE ACCOMPANIED BY A CROSS OF THE TDI. 2. THESE PATTERNS CAN OCCUR ON ANY TIME FRAME AND WHEN THEY OCCUR ON H1 OR H4, THEY USUALLY ...
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Phx62 replied Jun 8, 2013As I stated above: "The wick on a pullback candle must be at least ½ of the total size of that candle and only have a wick on one end. An even longer wick is preferred." Candles that have wicks at both ends indicate that the bulls and the bears are ...
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Phx62 replied Jun 7, 2013Let me try to add some more insight into what greenb and tenmile are showing. When price moves more than 60 or so pips in one direction, it will seldom reverse without several candles of consolidation.....there are three examples that I marked on ...
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Phx62 replied Jun 6, 2013I only use a couple of the options on the CaveManager EA......I use it to set my initial 50 pip TP and 50 pip emergency SL when I enter a trade.....I usually also set the No Loss after Pips to 21 when I am not going to be able to monitor the trade ...
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Phx62 replied Jun 6, 2013I look at a number of factors when determining which pair to trade including the ADR. To support the type of trades I make with 50 pip TP, the pair must have a recent ADR above 110 or 120 and the Asian session must do at least 40 of those pips. I ...
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Phx62 replied Jun 6, 2013With the Non-Farm payroll release coming tomorrow, I am done for the week. I traded the AU H1 pair this week with good results. The pair began a downtrend on Tuesday, so most of the trades were short. Entries made based on PA, double tops or bottoms ...
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Phx62 replied Jun 5, 2013Emmanuel, I misunderstood the intent of your previous post and I am the one who needs to apologize for my remarks. I can see that you have a good heart and your intentions are sincere. I understand now that your only intention is to help others. ...
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