Great thread you have here. Great traders and many good discussions and sharing.

I see many of my FF buddies are online here. I must say very good spirit thread. Congrats to you being the teacher here. I don't trade M15 specifically but use this lower TF for my entries. Scalping not part of my day trading but I learn a lot reading this thread. Yesterady FOMC was a crazy one. I thought NFP was nasty, but yesterday was something else to experience. Most pairs got their ADR hit both top and bottom within 15 mins. Good thing I had my protective stops far away using 2x ATR(10) on H4. Right now, EU looks like doing small pullback as normally buyers will exit and bring price down a little.Not sure if this will be correction, but using day pivots would be good to pick up Buy entry later

My Big Picture on EU now. Several bullish days ... looks like bulls stampede, not easy to stop this one. All the bears are up in the trees waiting till all the dust settle down. Look at all the USD pairs correlation, when one turnaround, all the rest will follow. Question is which pair take the lead? Often is cable.

Now I look for a possible retracement on H1 to the area 38% and 50% of last week rally. But if we want to see if there is a bounce on W1 5SMA this is between the fib 38%_50%. D1 show 50SMA cross up 100SMA....so in ow TF H1 it is retracement of the bi rally of week. Likely show stopper is weekly pivot. Trade Well!

H1 shows a bearish engulfing candle GMT0700 Frankfurt open...PA wsie it would take very strong buyers to turn that upwards. Look at the M15 candles closely, notice the upper wicks.. is there bullish momentum after the LO candle? I would plut more weight on candle price action on the next higher TF like H1 and H4 to get the sense of the direction when scalping.

My EU CT trade taken as price bounce off the RN 1.3000. Waited for a small price pullback as I do not chase long candles.

Trade Update: Move TP higher and move SL to protect +15pips. Price pause near EMA200 but no sign of candle with long upper wicks. Good indication of strength and momentum to break above EMA200.

Took this trade earlier now protected +12pips.

study the D candle close ... know where the O H L C levels... then start the next trading day. know the candlestick patterns and the price action. This is my Rule 0 move down to your lower TF charts like M15 and see where those O H L C levels are and the important MAs we used here. Follow Rule 1 here.

This is how I view the use od the D candle. All the play is with the use of 10EMA and 50EMA on all TF.

I use that shaded D candle to illustrate/explain how to keep eyes on the previous D candles PA and to catch some trades using the PA follow through of bullish and bearish D candle. Attach is the D candle indicator. Use that and study but do not clutter your charts with too many indicators when trade. Just draw the previous Day Open & Close onto the current trading day, plus the fibo of the High-Low. /it is not a D candle system. I just use the D chart, look at how the D candle close, the pattern and decide on my intraday trading.

I stole Arjun EJ chart to share with you the Inside Bar trade opportunity on 21 Sep. One of my approach when day trading is to look at previous days candles and to determein if there will be follow through of the previous day momentum or to trade the intraday retracement of the previous day range. Sometimes we see Inside Bar candlestick pattern. Thesse are high probablility breakout trades. Zoom down to M15 chart back to week 38 , 20 Sep and see the PA.

An early Tokyo open setup for AU

a picture is worth more than a thousand words...

here is something I am looking at now. Have a look at D1 and W1 chart first before you make your trading decision.

For me, on M15 when I see the price is below the 200EMA any buy trade would be CT even if there is PA with 10EMA / 50 EMA. Zoom out and see the flow of the last 2 weeks. Also look at the recent D candlestick pattern...yesterday closed very bearish, so expect to see some correction before market decide on bullish reversal or continuation downwards. Be patient, always wait for higher probablility type of setups.

AU 9 Oct update

price hit some resistance ... will this be the first sign of bearish move back to the major trend?

Pkimnyc: anyone still holding shorts, watch the 15 min pin bar. take and run already....now see if rebound ...intraday

while waiting for market to show the way, I did some analysis of EU. see attached. the previous week candle pattern show bullish engulfing. but this week D chart show 3 candle reversal and 3 days down candles,...will this end today and rebound?

EU 10 Oct trade

entry attempt. bounce off RN 1.2850 and TL

I manage the downside .. and see if it will make it to yesterday's 61.8% retracement, D 10EMA , 200EMA on H1

what do you see that pin-bar is doing today?

yup, I saw the H4 pin bar. I have other ideas on M15. today and tomorrow will be crucial for the next big move.

Aussie EarlyBird Special

See this.

I know you asked LE1 but let me just add another way how I view things on charts. Different brokers has slightly different data feed so we do not see the same price candles/bars OHLC, but the price remains very much the same.

EU 12 Oct LO

This is what I saw before and after LO. Follow this pair today and next week, not closely but very closely.

For the many who are still using TDI as the learning wheels. This one of for you. I learned from X-Man for almost a year and I am convinced Price Action is KING and I started to wean myself from the TDI....sometimes I get withdrawal symptoms. Once again, I stole member gcninvest posted chart and made my add-on comments.

here is what is happening again. snipers scalpers you may be in for another Friday treat. TDI traders, look at the last price extreme and TDI re-enter into the blue BB. Now watch and you will know why you should not simply trade on TDI cross.

Anyone traded EU divergence when NY open? Can you post your entry?

same view as I did my Big Picture planning for UJ yesterday. The W1 bearish hammer caused some concern for me.

nice price spike on low volume....what does this mean?

Good trade attempt. if you are using TDI, you could have got in much earlier. 1) the previous candle open based on the TDI PL hook up 12-2 position. 2) at the open of your entry candle instead of late entry after the TDI cross up.

see this:

For newbies using TDI as learning wheels: Here is an example of a setup using TDI divergence and counter trend using ADR.

I need to see suport to continue with BUY. Last week candle was a Hammer. We shall see if there will be some correction before more buyers jump into this one.

we see a bearish 3-bars CS pattern... and that follow with a price close below 10EMA (M15)

AU 18 Oct example

here is the chart showing the TDI divergence. The other 2 charts are Arjun' post #9527 where he traded the marubozu candle on 15 Oct. This marubozu candle also appeared today in ths GU pair. ..in M15, H1 and H4 candles closed. Another powerful single-candle pattern you can use. These are rare, but when you see that, you must react fast.

GU NYO beware

see chart. it's minutes to NYO... more smart money in the market today. they chop ... we chop along..

EU another example using Marubozu candle

Here is another example using Marubozu candle...EU on 8 Oct.

both EU and GU not showing any nice move. but NU looks much better for a potential for 20pips.

my commenst: - in M15 TF, pin bars and doji appears all the time. hence they are unrealiable on its own. If you want to use pinbar on M15, that pin bar must be at a significant high or low and the the candles before must not be strong candles. - D1 PA is above 10EMA and H4 PA flat. - on M15, use 3-bar CS pattern like the one happening now. I am not saying this may work, but it is better than single bar pinbar alone.

Just to follow up on how this 3-bar bearish setup turn out. See details on chart attached.

EU 19 Oct

this EU trade taken earlier seeing the classic setup at 10EMA. Waited for this ...patiently not wanting to chase price when LO.

POP GUN setup entry

what is a POP Gun? here is an example is a 3-bar POP GUN setup in M15 TF.

Another example of a 3-bar pattern at RN and the dynamic S&R, breaking below previous D close. There were several test of the RN 0.8200,. why those bounce were not taken as entry? Anyone?

AUDUSD week 43

Same view as I see a bearish 3-candles bearish pattern on D- chart. On W chart there are two kep price levels to watch out for bounce or break lower. H1 will give more trading opportunities for intraday trading.

it is dangerous when you play with hot wax.... it can burn your fingers

ok, nice. A possible using M15 TF would be like this. See chart.

when it doesn't move ... then there is some opportunity ahead. I see DIB on H4... whcih direction is the BO? I am in sell protected ....LOL.

AU 23 Oct Trade

here is an exmaple of AU trade running using R-multiple management. SL is 17 pips = R. let's see if market will give me a full 2xR trade.

AU 23 Oct 2nd trade

hi, here is my 2nd trade on AU. it is my fav 3-bar setup ...

AU 23 Oct trade closed

Here is an update how this trade was managed using R-multiple. with SL = 17 pips 'R'. the total result is 3R = 51 pips. this is one way how you can grow your account using multi-lot trading. But you need to have a high consistent win rate with good entry . The recommended win rate is 55% before you can adopt this multi-lot strategy.

there was a good 3-bar bearish setup just before NYO. Can anyone tell me - where is the resistance for decision to take the setup and SELL? - what would be the risk taking the SELL setup after the 3-bar?

well you pointed out the RN 1.3000 and that what what I feared and that was one risk as it can pose a support seeingb 2 previous doji candle before that 3-bar setup. For Newbies: Support and Resistance is not a single price line or level. It is a zone near some recent key levels such as OHLC. I follow EU everyday ( my bread and butter) and what attracted me was last Friday 19 Oct. The High was interestng... See the chart attached and you will see what I meant. The Friday Low was like a sore thumb for sellers when Monday open. PA show that when this was broken, it will be re-tested ... right on the spot. Also there was D 10EMA just few pips away and also the fibo -r of that H4 high low was at 38%. Enough condition for me to take the setup....with small R. Another 1R+2R trade. Learn.. PRactICE.. take ACTION...

AU 24 Oct Tokyo session

this AU trade taken earlier. Part of the Big Picture plan for week 43. small initial SL 16pips, profit 1R +2R = 48 pips.

EJ 24 Oct

Just as when Tokyo finished their sushi time, sometimes market start to move... smal SL 12 pips, R....

3 bars or 3 candlesticks patterns are reeversal or continuation patterns. use these with S&R and TL. you can read more at the Bulkowski patterns website. http://thepatternsite.com/Candles3.html I only pick ceratin obvious ones which are easy to spot. in this example I posted, I use the technique to blend 6 candle into 3.

EJ ... why the few doji?

GU H4 Inside Bar breakout ...delayed

what I saw was there was price contraction after NYO and the H4 Insie Bar showed up. SAfter London closed, usually there liquidity is low and there were little market interest. Same when Tokyo open. It is like a pressure cooker with steam build up inside waiting to be released. LO open ...bang! right at when the D open was. Trading IB BO is tricky. sometimes there are false break in opposite direction before the actual BO. You need to position yourself on both sides.

hi vicky look at the attached chart. what do you make out of it? since we are trading on M15 chart most of the time, you need to reconcile 16 x M15 candles into one H4 candle. Can you do that?

EJ Doji question answer

everyday I look back to previous days O H L C and plan my trades.

EU 24 Oct H4 pre-NYO

this is my updated view on EU H4. there is a rising channel and price is in the down flow which can move further down to the lower channel line. For swing trading, there must be a reversal setup on H4 before the direction changes. Observe the TDI closely for bullish divergence should market move sideway in narrow range.

such a nice trade... entry just above the last H4 Close... follow through of a bullish H4 close. that was my question if anyone want to short if there is sell trigger...without looking at the strong H4 bulllish candle.