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Author Topic: TA Forex Trading  (Read 16125 times)

Pennies2007

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Re: TA Forex Trading
« Reply #765 on: February 27, 2017, 08:57:44 pm »
Yep pretty much all the time Qui.

Sent from my LGL62VL using Tapatalk


Pennies2007

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Re: TA Forex Trading
« Reply #766 on: February 27, 2017, 09:15:37 pm »
Honestly Qui, I think we need to go ahead and TP at 1.005 and leave this one alone for now. The 3 wave progressions had me puzzled for a minute until I realized that a series of 3 followed by another series of 3 can only be a triangle pattern in Elliott Wave theory. So I'm going to go ahead and hazard a guess that this is what we have here for now.


EDIT: The time between peaks seems to be about 2 days, maybe a bit less so I'm thinking by no later than Wednesday we should have our TP at 1.005.
Hourly ACAD chart...

« Last Edit: February 27, 2017, 09:17:46 pm by Pennies2007 »

quanticopious15

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Re: TA Forex Trading
« Reply #767 on: February 27, 2017, 09:20:40 pm »
Sounds like a plan pennies.   I'm not comfortable holding it in hopes of .97 anyway.

Pennies2007

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Re: TA Forex Trading
« Reply #768 on: February 27, 2017, 09:27:49 pm »
Qui, I changed your notification status but I'm not sure how it will work here. Let me know if it made any difference. If not, I'll do some more digging.

quanticopious15

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Re: TA Forex Trading
« Reply #769 on: February 27, 2017, 09:31:51 pm »
Not sure if it worked or not......I clicked on the reply button and got the message that a new post was made and do I want to continue to reply.   I clicked no and went back to see your post here.     

I was going to say that it would be nice if I could change each fib level to a different color so I could spot which level the price was at based on the color and not the small text.

Pennies2007

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Re: TA Forex Trading
« Reply #770 on: February 27, 2017, 09:34:06 pm »
You can. Just double click on the fib tool once you have it laid on the chart and then right click. Go to Fibo Properties and set the color you want under the Common tab and Fib Levels tab. You can then lay another fib tool out and color it differently.

I normally use Red for weekly, blue for daily, white for 4 hour, etc. That way, the darker colors automatically let me know that the fib is relevant on a higher time frame.

javalin

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Re: TA Forex Trading
« Reply #771 on: February 27, 2017, 09:37:47 pm »
LIKE that Pennies

quanticopious15

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Re: TA Forex Trading
« Reply #772 on: February 27, 2017, 09:38:31 pm »
I'd sure like to see a couple of nice long green 4 hour candles on Eur/Nzd when I wake up tomorrow morning.   Price is now just at the 61.8 fib, even with prior highs and looking over extended on the 1 hour chart to me based on TDI divergence and it looks like it's in its 5th wave up on the 1 hour TDI wave count; or at least my wave count.

Pennies2007

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Re: TA Forex Trading
« Reply #773 on: February 27, 2017, 09:39:45 pm »
Or you could just download an MT4 indicator to do all that for you automatically. Here's the link. Just drag it onto your chart and every time you draw a fib, it will cycle the colors for you. Just put it in your indicators folder, close and open MT4 and there it is.  ;D

https://www.forexfactory.com/showthread.php?t=258619

quanticopious15

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Re: TA Forex Trading
« Reply #774 on: February 27, 2017, 09:41:46 pm »
What I want it to do is make each fib level line a different color, i.e. 38.2 red, 50 green, 61.8 orange, 71.6 gold, 88.6 tan.   

Pennies2007

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Re: TA Forex Trading
« Reply #775 on: February 27, 2017, 09:43:29 pm »
I'd sure like to see a couple of nice long green 4 hour candles on Eur/Nzd when I wake up tomorrow morning.   Price is now just at the 61.8 fib, even with prior highs and looking over extended on the 1 hour chart to me based on TDI divergence and it looks like it's in its 5th wave up on the 1 hour TDI wave count; or at least my wave count.

You never know Qui. It's still working it's way up in the current hourly TDI uptrend channel. You'd be surprised how much topside is available in the last few squiggles of the 5th wave.

Hourly chart...


Pennies2007

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Re: TA Forex Trading
« Reply #776 on: February 27, 2017, 09:47:55 pm »
What I want it to do is make each fib level line a different color, i.e. 38.2 red, 50 green, 61.8 orange, 71.6 gold, 88.6 tan.   

Ahh...I gotcha. I don't know about that.  I never have tried before. Look through this page and see if any of these help. Seems likes there's 2 or 3 mentioned here...

https://www.forex-tsd.com/forum/debates-discussions/15788-fibonacci-colours

quanticopious15

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Re: TA Forex Trading
« Reply #777 on: February 27, 2017, 10:03:33 pm »
I don't see any way to do it, but it would be nice.    I'll check that out and do some digging.   

I don't know with E/N...so I'm out with 45 pips gains.   Still under on my earlier entry.    I'll look to reenter later I suppose.

Pennies2007

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Re: TA Forex Trading
« Reply #778 on: February 27, 2017, 10:09:30 pm »
My Trading Times Rules List

I'm as guilty of this as anybody so I'm setting new hard, fast rules for myself on when to take trades.

1. The absolute BEST time to trade is between 2 AM Central to 9 AM Central. Very few exceptions to this except maybe during Fed rate announcements which typically occur at 1 PM Central. London typically provides the best volume of the day.

Other than those rare exceptions, these are my rules for myself...

1. No trading on Sundays
2. No trading during the Asian session at night (Again, a handful of exceptions but rare)
3. No trading during late afternoon hours, especially right around the time the US market closes at 3 PM Central
4. No trading Friday unless it's very early morning London session. Typically, be in and out by no later than 9 AM. Definitely no late day trades.

I can't tell you how many times I've violated those rules only to wind up waiting for the London open to get a resolution to the trade. 90% or more of the time, had I waited until 2 AM Central to start looking for trades, my drawdown would be minimal and the volume would be there to facilitate the trade entry and targets with much less waiting time.

Now, if I can just make myself follow those rules...LOL!

Of course, these rules for taking trades on the long time frames like the weekly really aren't pertinent. Those can be taken any time since the risk is much smaller and the time frame is so large so all of the noise is taken out of the chart.

quanticopious15

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Re: TA Forex Trading
« Reply #779 on: February 27, 2017, 10:15:39 pm »
That was worth copying and saving.   I may even print it out and hang it on the wall.   

 

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TA Forex Trading by Heavyweight
September 30, 2018, 11:48:51 pm