DislikedThe rest of the world uses NY close for end of day for purposes of PP calcs. This is GMT 17:00.Ignored
http://www.forexmarkethours.com/GMT_hours/02/
thanks a lot for the indi
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DislikedThe rest of the world uses NY close for end of day for purposes of PP calcs. This is GMT 17:00.Ignored
DislikedIgnored
DislikedI was chatting with our fellow traders today, explaining what I’m currently doing to trade H1 10ema and H4 10ema consistently and profitably. So I got inspired by that chat session and I have outlined some rules I use for those trades transcribing and ordering what I said on the chat room.
Here you can find an addition to the basics for trading H1 10ema and H4 10ema CHOROS rules including a typical “before, during and after” example.
Rules:
First: Wait until the confluence of at least 4 levels (let’s...Ignored
DislikedHi !
I know that afterwards every comment is easy and we are all "Masters" in that , but I would like to point out some points which I would have told you "live" if I could:
1) Why the Heck do you go to look for AUD/USD when there is a lot to do on E/U and G/U as well ?
(I hope you know I am saying that friendly)
2) You wanted a first touch of the 35/50 on M15.
That's ok, and you expected it to work....
IT DID!
For such a counter trend Risky trade
a) not two bars
b) retracement bars much bigger than the previous 2, 3 bars...Ignored
DislikedThanks Haydel
I have checked your chart and compared with my AU trade (post #6910). I found both are against HTF trend, and both have reaction off from other HTF line. Both has long HTF wicked before hand. Both momentum is accelerating at the time of hitting. Both has not very steep MAs in the confluence.
Sadly my setup did not work out and yours work out. The AU trade has a confluence of M15.35/50 + H1.E10 + RN + PPA + Fibo50. Nevertheless, there was little rebound compared to your entry. So, I got a loser and you got a winner.
cheers,
kk
http://www.forexfactory.com/attachme...1&d=1322744534
http://www.forexfactory.com/attachme...5&d=1322767003...Ignored
DislikedYou have already gave the answer to your comment kk. You made good observations and your entry was risky but not bad at all.
The Pinbars you highlight on the H1 and H4 are showing that the bounce on MP and DP is going to be strong. When you see something like that you should think: "OK, that was a H4 10ema first touch in confluence with DP and MP so I won't get in it's way unless I see a good confluence to trade for a quick scalp".
And you know what? You got it. You made a perfect entry for a quick scalp with almost zero drawdown, you could...Ignored
DislikedIf entry is made at the first line of the confluence (i.e. the RN 1.0200), it is a sure loser.Ignored
DislikedDo not take these rules as written on Stone. You have to use your good criteria so you can adjust your entries and existsIgnored
DislikedPivot Points are stronger than Round Numbers so do not expect that a confluence that includes a Round Number will stop or reverce a bounce from a HTF confluence that includes Pivot Points.Ignored
Dislikedsomeone asked for my templates so here they are.
you will need to add Kostas M5 , 12 and 23 EMAs.
Knock yourself out :nerd:
also the indis i use, + a couple more than you will find in the templatesIgnored
Dislikedthis is my first post here:
i think we have a constrainment in EU on the M15 35/50 now.
sorry, so far i cant post charts, due i have the forum on a seperate pc.Ignored
DislikedOK. I've just seen the templates that Asos recently posted, but I'm still confused.
On M5 do I need both the MA10 & 12?
On M1 Asos has MA75, 150, 525 & 750. This is completely different to what I read in Clay's manual (14ema, 35, 50 & 200)for the M1 charts!), so now I'm really confused and my charts seem overloaded with MA's!
Please could some clarify for me.
Thanks againIgnored