Hi Hello1-4
It's ok.
It's useful to send your chart with currency and TF on screen so it is easy to recon what we talking about.
Thanks for shearing anyway.
Regards
Mac.
Daily Chart 3-Candle 1,351 replies
Daily Candle On Chart Indicator? 6 replies
Weekly chart with daily candle patterns 2 replies
Day's first H4 candle correlation to daily candle 14 replies
Correlation between first 4 hour candle and daily candle 1 reply
DislikedDaily chart is clear Mac, Hanging Man + Shooting Star + confirmation candle = Bearish mode on.
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On Weekly I see sort of Tweezers Top + Harami, if we have a weekly candle close above 1.78, next parade is 1.81, otherwise, 1.74 is on the cards.Ignored
Dislikedthis is three candle pattern.
see third last candle, how prices were brought to south by bears with full intensity but pulled back to north by bulls by the end of the day.
same thing happened on 2nd last candle but with less intensity.
on todays candle it is clear that bulls have taken over and bears have given up, now probability exists that prices may head north from this patternIgnored
Dislikedyes!
I only follow cable.
i have found over the yrs the daily candle chart is best for me to keep things simple.
i have gone long from 5100 for 100 pip limit with same on stop.Ignored
DislikedHi Hello1-4
In my point of view we should wait till end of the week.
There left two days and us you can see on GBPlfx weekly chart, there is forming kind of morning or doji star.
If cable weekly can close above1.534x we con see kind of morning star with long bottom wick.
If below 1.52xx we can have hammer (reversal ) or kind of doji star ( reversal or continuation).
However I can not see bull set up yet or I'm wrong.
Please see my daily and weekly GBPlfx.
Regards
Mac.Ignored
DislikedNice one, accord to what I read on the charts, cable is going to 1.53 area first, with possible spike up until 1.54, if you see the daily pattern, after bearish movement, next day candle closed with a HL, and yesterday candle was pretty long almost without wick.Ignored
DislikedI have been trying to succeed at trading the cable for approx 3 to 4 yrs and i have only lost cause i have never stuck to a solid system.
But after watchin the market day in and day out like a nutter for 4 yrs, I have realised the daily alone can make success once a strict system is applied.
My failure is not based on my knowldege of the cables movements and patterns, its based on my indiscipline to stick to my system.
So 7500 us in the whole (which is over 4 yrs) is my tuition for learning this beast!
From this day on i will only trade...Ignored
DislikedI have been trying to succeed at trading the cable for approx 3 to 4 yrs and i have only lost cause i have never stuck to a solid system.
But after watchin the market day in and day out like a nutter for 4 yrs, I have realised the daily alone can make success once a strict system is applied.
My failure is not based on my knowldege of the cables movements and patterns, its based on my indiscipline to stick to my system.
So 7500 us in the whole (which is over 4 yrs) is my tuition for learning this beast!
From this day on i will only trade with...Ignored
DislikedAccord to your words, long on cable is against your system, because is a CT trade, Cable from Monthly to Daily is Bearish, so, try to minimize your risk on that one. I'm intra day trader, but I trade based on daily charts mainly, all I can say is money management is the king in this business, your R:R has to be min 1:2 per trade, so, when I'm doing CT trading, I only risk between 1-2% of my balance.Ignored
DislikedJohn
so if i have 100 on my limit i should only have 50 on my stop?
are you consistently profitable every month?Ignored
Disliked1. Alex, there are many good literature about MM, but check babypips to learn the basic, if you want some good references about books, send me a PM. I trade based in %, never risk more than 2-5% of my whole balance. Your stop & TP is based on your trading style, I've been trading mainly GJ [more volatile pair], my min stop is 80 pips, max is 120 pips, but I always keep strict MM rules.
2. Yep, I've been trading for almost 3 years, now I'm profitable, like I said before, all is about MM, even if you have the worst system, at the end you'll be profitable.
P.S:...Ignored
DislikedI agree,be patient and wait for CLEAR CANDLE PATTERN....1.5200 is a HURDLE...
bazIgnored