thank you for your respond .... really appreciate it .
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DislikedAs far as I understand the method, weekly gives us the overall picture and major levels of big round numbers/support & resistance.
We then take the 4h candle as signal candle and view this candle on a 5min chart - where we can see if a trend confirmation/rejection/retrace etc. happens.
The main reason why we drop down to a lower timeframe is the fact that we can place our stops closer to price.
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michaelIgnored
DislikedHai nomask,
first of all i want to thank you for your execelent strategy. curently i still practicing entry with 5 M tf but oftenly i failed. so for this trade i set my stop loss relatively huge.
here is the chart of my entry at NZD CHF. i have few question to ask if you dont mind.
1. can we take setup bar event the fib level of weekly hindsight bar didnot been touch by price ?
2. are we focus only on pin bar/inverted hammer/hanging man and bullish/bearish engulf setup only to take it as hindsight bar at 4H TF ?
thanks for you kind answer...Ignored
DislikedNo problem, the thread is just starting and we will ( hopefully ) go through many examples. This will make it clearer.
Maybe if you go through Nomask´s charts and download his template.
Fact is : higher timeframe charts such as weekly, daily and 4h are much more reliable. We then...Ignored
DislikedZol, very good, I will try to look out for setups and post them as well. I am just very cautious before ECB today and NFP tomorrow...but then narrow range days should give way to more trends again.
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michaelIgnored
DislikedZol, very good, I will try to look out for setups and post them as well. I am just very cautious before ECB today and NFP tomorrow...but then narrow range days should give way to more trends again.
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michaelIgnored
DislikedHi Nomask
Found your thread during forum hopping. Must say this is one of few good things in FF. I am not yet using your system but it has provided enormous insights. Earlier i used to struggle for low risk entries in line with HTF PA. Drawing fibbo and zooming to 5M should work. Thanks.Ignored
DislikedThank you for your wonderful and detail trade plan from 1.3000 to 1.4000. Looking forward to learn more from you. I still learning to have a good entry on 5 minute chart.Ignored