hi,
What time frame is best for find trend, if I trade on 5min chart.
What time frame is best for find trend, if I trade on 5min chart.
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Dislikedhi,
What time frame is best for find trend, if I trade on 5min chart.Ignored
Dislikedthe 50MA shows you the trend right off your 5min chart. the slope of the 50MA tells you the strength (trending or flat/ranging market).Ignored
DislikedDo you mean SMA? I believe it more commonly used for the above purpose than EMA.Ignored
Dislikedhi,
What time frame is best for find trend, if I trade on 5min chart.Ignored
DislikedHi all, did some trades again.
#1: EUR/USD
Entry: Long @1.30010
Close: 1.30133
Remarks: Actually this was a counter, long at pivot
Spread: 3.0
Result: +12.3 pips
#2: EUR/USD
Entry: Short @1.30105
Close: 1.30100
Remarks:
Result: +0.5 pips
#3: EUR/USD
Entry: Long @1.29979
Close: 1.30071
Remarks: Counter again, long at pivot
Result: +9.2 pips
#4: EUR/USD
Entry: Short @1.30071
Close: 1.30151
Remarks: Got...Ignored
DislikedHi J
I hope it is clear on the chart posted - I will look for another few examples later today and post it.
You will find many situations where there are three consecutive candles with higher lows. What I'm looking for is that pullback into the war zone and then the continuation of the movement upwards (the turnaround and /or the bounce off the 21) should be initiated by the 3 higher lows.
I hope it makes senseIgnored
DislikedThank you for your time & effort Golfer, I took this one following your tips, it went a bit against me but seeing DOW dropping gave me confidence to stay in the trade. what do you think??Ignored
Disliked"market should call u for a trade ,dont hurry ,there are always good setups,so just wait for good ones "Ignored
DislikedGreat example of patience - thanks Bs.
VERY, VERY important with this system otherwise you'll get burned. That is why it is so frustating with this system and the 5min time frame. There are so many setups but only a few are tradeable and profitable - make not mistake and I am just being honest for all the newbies' sake. Nothing to hide - so please be very careful.
Just because this is a scalping method doesn't mean you should have 10 trades a day.Ignored