DislikedHey all, Hows it going? Brand new to forexfactory and novice at forex trading. Just recently opened a trade on gbp/usd @ 15541.5 long (near quarter price not spot). My reasoning is pretty basic, looking at the daily chart macd is showing as still currently in an uptrend (realising we are approx at a resistance line from about may timeish, however still taking it as we are in a positive trend). Then looking at the 1hour charts williams % showing as being in oversold territory when i opened my trade. So my thinking behind this is trying to get in...Ignored
If you are really a novice, I don't think this thread is a good place to start. As you has probably already noticed, there are many kind of traders with their very own style here, vary from the timeframe, the tools, or any other aspects, you name it.
But I don't think, that you are really that new. You are talking about MACD, RLW, and chasing 200 pips .. wow .. Many new traders that I know of, don't have the patience even for 30 pips. You trade like a pro, man
If I am allowed to make suggestion, be more precise about your tools. e.g. What is your indi's settings. I use 96 for RLW on m15 and H1, but I don't use it very often. And I abandoned MACD long time ago, so I forget what parameters I was using.
So if you are really a newbie, I think, you'd better hang out with the community of the indicators of your choice. It will give you more insight and enlightment.
Here is a place for hearing what you want to hear, and seeing what you want to see and boasting of your success to some extent
Make it simple, but not simpler - Einstein