Forex Trading With Simple Setup - page 32
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Do you belive ? GBP/USD 1min and 5min chart
Hello Everyone,
Attached chart shows GBP/JPY 1min chart and 5min chart.
1min chart shows price movement which is mark with rectangle on 5min chart.
Such examples shows, how pips Potential exist.
This is Tokyo morning session, with no major news release and price moves on technical. as the day advances price start making more movement depending on news and daily demand supply for all type of money--- real money , exporter, importer, Daily fix..... .
it's important to understand when to look for opportunity, taking trade on wrong time makes you depress and result in overlook of real opportunity.
These are all small point but makes big differance in trading.
Best Regards
Ramdas
Hi Ramdas
Fully agree..price moves on TA in tokyo and early london session.
I took 2 nice trades on GBP/JPY today. Here they are :
(1) Entry : 237.08 (SMA150 1 min chart) T.P. : 237.66 (visible resistance)
+58pips
(2) Entry : 237.43 (SMA50 1 min chart) T.P. : 236.77 (visible resistance)
+66pips
Once again, thanks!
Best Regards
TSK
Hello Everyone,
Attached chart shows GBP/JPY 1min chart and 5min chart.
1min chart shows price movement which is mark with rectangle on 5min chart.
Such examples shows, how pips Potential exist.
This is Tokyo morning session, with no major news release and price moves on technical. as the day advances price start making more movement depending on news and daily demand supply for all type of money--- real money , exporter, importer, Daily fix..... .
it's important to understand when to look for opportunity, taking trade on wrong time makes you depress and result in overlook of real opportunity.
These are all small point but makes big differance in trading.
Best Regards
RamdasConfusing..
Hello Everyone,
Attached chart shows GBP/JPY 1min chart and 5min chart.
1min chart shows price movement which is mark with rectangle on 5min chart.
Such examples shows, how pips Potential exist.
This is Tokyo morning session, with no major news release and price moves on technical. as the day advances price start making more movement depending on news and daily demand supply for all type of money--- real money , exporter, importer, Daily fix..... .
it's important to understand when to look for opportunity, taking trade on wrong time makes you depress and result in overlook of real opportunity.
These are all small point but makes big differance in trading.
Best Regards
RamdasHi there,
What a great job you have here.... one question from me, how do you determine which ma cross to entry coz for what that i've seen there's a lot of 50ma cross before the big moves started..
Thanks,
A helpful preemptive look ahead using Double Woodies
Try Double Woodies on the chart using Ramdas settings and then add the 100 lines to watch for entries. This will help visualize price movement and better establish a possible move, albeit shorter or longer term.
Finally, on your chart add your favorite indicators to "smooth out" choppy price movement and voila.
COTtrader
"Ken"
Hi there,
What a great job you have here.... one question from me, how do you determine which ma cross to entry coz for what that i've seen there's a lot of 50ma cross before the big moves started..
Thanks,
Hi ejo3s,
First be clear, system is NOT based on SMA Crosses. Cross from late after movement. we use SMA as support and resistance.
Refer attached chart. Price form double bottom, and started going above sma50 and sma150 combinaton. refer second mark rectangle, here we are ready for going long on any dip to SMA150, or SMA50 with stop just below sma150 which is support. refer UP pattern which is mention in this thread.
You can see in attached chart what price has done. first price tested sma600 where some profit booking happen, and again price move higher and sma600 acted as support point.
each day some pair forms good UP or Down pattern. we need to watch which pair forming UP or down patterns. some day one pair goes in consolidaion and we keep watching that pair and ignore other pair
if you feel lost without any indicator on chart then.. In previous post COT trader has given nice setup with Double woodies
Best Regards
Ramdas
Nice signal formation EUR/USD
Hello Everyone,
I hope you are enjoying.
Attached chart show EUR/USD and EUR/JPY, You can observe sell pattern formation on both pair, and further fall. you can see before fall, E/U tested SMA2400 and we can see price rejection from sma2400 area and price prepared for fall.
It's important to read clues of what price preparing for . price test some area for possible sell or buy orders. we are not suppose to go against Big Boy orders, If Reserve Bank of particular currency want price to be maintain in particular price band then they will maintain it and give other to play in that price band, where exporter and importer will keep doing there job of settlement’s of real money. Remember we as a trader are not concern about price levels, But Importer's and Exporter are concern and Reserve Bank.
New trader might find this post useless. But experiance trader know what this post is.
Those who want to know what happen yesterday why eur/usd fall, they can PM me, I am avoiding to post it in public forum.
Best Regards
Ramdas
nice info
Mr Ramdas this is good
to read a clue ... nice chart also
i miss this... only wait for the cross n find the retracement
thank for the good explanation...
i hope i can master this simple setup
Yesterday's EURUSD
Hi all,
as Ramdas already showed, this setup was really like from cook book.
Unfortunatelly I was not paying attention at the time it formed.
So with a bit of frustration, I took a riskier counter trade which I based on following plan:
1. Price stopped on significant support given by daily S line, statistical EURUSD bottom range line, weekly S line. So quite many mass-psychological reasons for others to book profit from the previous move.
2. I favoured upmove also due to situation on JPY crosses. EUR/JPY had very simillar pattern there (I kinda hedged this trade with EUR/JPY long).
3. My TP was lowering MA150. Since I couldn't watch over the trade, I put my TP at 38.2 fibo retracement (please see the attached chart for how I constructed fibo levels.
So my entry was 1.3447 and TP 1.3472. SL just under the support.
Even though this trade worked out fine, it is not the one we should concentrate on. So next time I will watch for cook-book setups in order to be happy and relaxed
BR,
Endy
Today's action
Hi all,
don't know how about others using this method, the biggiest problem for me is to force myself to get into trade when the pattern actually forms.
So, when I want to learn something (even during my university times), repeating the stuff, and looking on it from different angles is the key for me.
Similary, I started to do the same also here. I take screenshots on possible patterns as they form in time.
Here are my today's observation.
Zip file contains following things:
1. 70522_JPY: This screenshot is taken of 15 minute TF. It shows how SMAs support move and those correction. You can also see how these pairs go together on those big moves (carry trades).
2. 70522_USD_1/3: These three screenshots demostrate how the pattern of weaking USD was forming. I used 1M TF in this case. In case of EURUSD I also put in rectangle crossing of SMA50 and SMA150 (red and brown MAs). The only meaning of this cross for me is, that the direction of the movement might be changing. I do not react to this crossing with opening position or anything, it is just and orange light for me to get ready. Then, we have another rectangles showing how price is finding Support (EURUSD/GBPUSD) or Resistance (USDCHF). My target in these cases would be EURUSD 2400 SMA (or the same one on USDCHF). It is only few pips away, but I think when it shows this clear pattern it is fine.
Eventually the move worked out fine for GBPUSD, but on the other two pairs one could banked also some 20 pips.
3. 70522_GBPUSD: Finally, this screenshot also shows very clear pattern on 1Min. Again, price moved above those three crowded SMAs (50, 150 and 300), made a bounce of it (green elipse) and went up. I would banked at least half of the position on 600SMA and the rest I would see how far can it get.
I would be happy if anyone would comment on this.
BR,
Endy
GBP/USD pattern
Hi Endy,
With referance to your previous post..Nice going, Kip it up.
To Everyone,
Here is today's good pattern of GBP/USD,
I have shown 1min and 5min chart, Refer 1min chart at top and 5min chart at bottom, and look at mark circle on both chart.
GBP/USD rebound from SMA600, On 5 min chart, and form Trap.
after price pass sma50 and 150 and sma300 spot, and UP pattern form above these SMA spot, you can see price come with full force and pass sma2400 above and again form UP pattern above sma2400. and Rise contine. and price rise till spot ...sma600- 1Hr Chart , sma150-4Hr chart. and then stop.
here what i am trying to show is..
We can capture good movement on simple chart only with SMA and no other indicator. people search more and more complicated stratergy and fall in own trap. remember we are interested in price and price is the number one indicator. when price makes move it throw all indicators. and make logical move till reasonable spot.
I see people has very little interest in this beautifull simple setup and stratergy.
people are more interested in complicated stratergy.
Pl make your comment's or give your Rating to this thread, If you find this thread and content usefull.
Best Regards
Ramdas