what about this ? shall we wait for a red candle on H1 ?
- | Joined Oct 2008 | Status: Learning | 1,056 Posts
What you do is a reflection of you....what I do is a reflection of me.
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DislikedHi David, I don't understand your last post. On ACad I am waiting for the current 4hr candle to close. If it is a bull candle, then I will enter long. The second to last candle was a bear candle and only bounced about 7 or 8 pips.
Don't we wait for candle close before entering a trade?Ignored
Dislikedhey fourkids and thanks for your post.
on my charts it shows a direct price bounce of the trendline as it does with yours. i dont wait for any particular candle to form on the third bounce to make a purchase decision i just enter(except if there is pending news coming out).
however this doesnt mean you shouldnt, if that makes you more comfortable then by all means...Ignored
Dislikedhey, Four Kids, coincidentally, I was also looking at these two pairs, here are my charts
GU, I am looking into TP of 1.5200. currently, set stoploss to BE
AC, still with uptrend, TP might be 0.9100
just a different view for discussion. TL is very difficult to trade with, but, it seems one of the most useful tool, according to Al Brooks (I am currently reading his book, very interesting). however, still trying hard to find a solution to use it effectively
jeurreIgnored
Dislikedhey, Four Kids, coincidentally, I was also looking at these two pairs, here are my charts
GU, I am looking into TP of 1.5200. currently, set stoploss to BE
AC, still with uptrend, TP might be 0.9100
just a different view for discussion. TL is very difficult to trade with, but, it seems one of the most useful tool, according to Al Brooks (I am currently reading his book, very interesting). however, still trying hard to find a solution to use it effectively
jeurreIgnored
DislikedOn the contrary, TL remains one of the easiest tools to trade with, all you need is to know how to draw a valid TL and get used to it...
I've seen a lot of wrongly drawn TL [even in this thread] and more often than not, you get your fingers burnt when you draw TL wrongly...
I'm yet to have a loosing trade on my TL based strategies for this month... You can get a simple, easy to follow write up on how to draw an effective TL on page 2 or there about of this thread.....
Happy PippingIgnored
Dislikedhey fourkids and thanks for your post.
on my charts it shows a direct price bounce of the trendline as it does with yours. i dont wait for any particular candle to form on the third bounce to make a purchase decision i just enter(except if there is pending news coming out).
however this doesnt mean you shouldnt, if that makes you more comfortable then by all means...Ignored
DislikedHello david486, do I think right that you are not awaiting third touch/bounce candle to be closed before enter? thxIgnored
DislikedOn the contrary, TL remains one of the easiest tools to trade with, all you need is to know how to draw a valid TL and get used to it...
I've seen a lot of wrongly drawn TL [even in this thread] and more often than not, you get your fingers burnt when you draw TL wrongly...
I'm yet to have a loosing trade on my TL based strategies for this month... You can get a simple, easy to follow write up on how to draw an effective TL on page 2 or there about of this thread.....
Happy PippingIgnored