DislikedOk I closed my position for now and made a few pips. Went short at 1.2914 and closed at 1.28870. Looking at the 15 min chart it attempted to break through 1.2887 several times without any luck. Of course as I type this its drifting further down. Oh well Im just a newbie trying to learn a few things and 27 pips isnt all that bad!
ShawnIgnored
How are you? Ok you want to use a 4H and a 1D to trade this currency pair. Enter all your trades on the 4H chart but make a note on the 4H chart the support and resistance levels for the Daily and the 4H.
The 3H gives a little too much noise and sometimes may give you a wrong signal, so ONLY pay attention to the 4H for entry and the 1D for the major support and resistance levels. You should not be buying the pair only selling right now to 1.27781
It will take maybe the rest of the week to get there, but this is the patience you will be taught to developed. Hold your short til that TP - if you are impatient to hold it - the close out some of your trade and let the rest run.
If you have been following the rules - then re- read rule number 4 and you would see that you missed a second entry to short after you closed out your trade at 12Noon Eastern.
Keep at it - you'll get it and what ever you do - do not buy the EUR/USD - only look for sell opportunities - Dont listen to anyone in that room who decides to BUY - You will make more pips selling than buying and alot safer pips with alot less stress.
Respectfully,
HDA