Any more questions, comments welcome =]
I'll also give clarification on 'what would you do' circumstances.
I'll also give clarification on 'what would you do' circumstances.
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DislikedAny more questions, comments welcome =]
I'll also give clarification on 'what would you do' circumstances.Ignored
DislikedI took 4 trades this morning @ 8:15 on a 15 minute chart (i know, risky because its right before news). The trades were short AUD/USD, AUD/CHF, EUR/JPY, and long EUR/AUD. Once I was up +138 pips total, I took half off the table and moved my stop to breakeven. Looks like they are starting to move again. I like this system. We will keep trying it out.Ignored
DislikedHi Xivali,
Maybe I'm making this too complicated, but have you ever considered placing the 50 SMA Channel from the 1hr time frame on the 15 min chart. This may help people trade in the direction of the longer term trend. The magenta channel is equal to the 50 SMA channel on the 1hr chart.Ignored
DislikedIf you pick any pair, set the chart to 15 min and then look at when the price moved. It becomes fairly obvious the best times are right around news releases(of course) but also when sessions are opening or coming to a close. The more I look at this method, the more it looks as a consistent way to trade. I explored the daily charts but I'm in love with the R/R ratio of a 15 min chart not to mention you could pinpoint several times of the day to be near the computer as opposed to staring at it all day long. Just giving my opinion.Ignored
DislikedIt is an excellent suggestion, on other charts I have a 200 SMA, this works beautifull, although the hourly 50s are equally as good =]
Both are worth their period in gold in identifying the direction you want to be ehading.
I have found that trading in the direction that the 200 is heading (and most likely the hourly 50s but I haven't checked) produces far more profitable trades.
Additionally, the 200 can be used as a great S/R line for trading bounces off of =]Ignored
DislikedDo you keep updating the stop loss every time it moves up a fib level? Meaning if price is at 261.8, would you set the stop loss to 123?Ignored
DislikedThanks for the advises! I will have a look to those videos:-)
About the Fibonacci retracement I have the tool on the metatrader and I know how to pull them in order to understand how much retracement a trend is having, I don't understand the top and the bottom of a pull to define price levels, because either the top or the bottom don't exist yet
I'm sorry , I'm sure this is a stupid questionIgnored
DislikedHi,
my question is would you have traded the long breakout at point "B" or the next long breakout of the channel?
If not the reasons for not doing so?
Cheers
IanIgnored