@142802 exactly. Oh well! I'll be back tomorrow.
Good Trading my friend
Yeah:-). My generals and commanders was angry with me, because i want it too big...
ok makes sense, I usually find that 3:1 was 25% retrace on the thread, I'll check again.
How do you use the open candle for direction? I think the TR was used strictly for vol and not direction?
I find that while we should be in the daily direction, the direction changes on the 5 min and 1hr. I tend to put even the daily out of the way and allow 5min's price movement to determine my direction....I bolded that last part because if what I said is wrong, then I need to fix immediately.
Anyways my question was more focused on timewindow. btw my skype is william.fan7 I would really like to talk about the MO
to the left is the hourly chart (my brain works in terms of hours)
to the right is the 5 minute ( i dont use the 15 minute, if i count 3, 5 minute candles thats the 15 minute)
the blue area is the daily highs, the red is the daily lows
the green line i plot is the daily open price for reference.
if price is below the open the candle will look red correct?
if price above the candle will look blue.
it helps me know how price is trading in relationship to the daily
if i explained it correctly, you should be able to see, the daily candle unfolding before you
my very faint, gray SMAs (i make them faint so i dont see them unless i want to)
is the houly sma and the daily sma (sometimes helps)
If you have the sma telling you about PA in relationship to the daily and hourly, what do all these colors do for you?
What is the advantage of counting 3 5M to see the 15M when we just can have the 15< chart in front of your eyes?
I think that less is better.
thanx, ill keep that in mind
FTI can correct me on this but i dont think he meant all technical analysis is bad, i MUST have a naked chart.
i think he meant the way people use it to dictate their decision is erroneous.
i use it in a way that makes sense to me. to help me understand my position in relationship to the daily price movement.
im not saying its the best M.O
im still learning, im a beginner and as socrates said " i only know that i know nothing"
but so far i feel comfortable with it, and it works for me.
i trade according to the developing price, that is how i time my entrances and exits, according to what is happening in the 5 minute chart, not only do i keep in mind, patterns, formations etc but also momentum of price.
my scout does well
next i need to know when to hold, and press the attack. not just keep the scout continuously in profit. but as FTI said, i need to tame my ego
i tend to always achieve what i set out to do, and im very bright guy, so i need to be humble with the market, and not force things. go with the flow and take what it gives
I think it is a very valuable post. Of course you cannot always expect the waves to develop according to plan or count but you should use it as a guide.
yes, I have printed out the full post, but it is hard to dissect. I do not want to have any bad habits so I wanted to see what everybody's opinion was on ATR and time window before I start practice on this subject.
Also, can you elaborate on the tunnel?
In addition, was still wondering about scope. On 5 min rescues can take entire day and half before daily enforces
Darn...I am riding my bear going north...
Moody's place Japna AA2 govt rating on review for possible downgrade
@LuSan, nice to see you back
Thanks LuSan. I needed a good laugh.
My account is small, so I need Money!
P.S. Next time you will have mine.
How r u doing lusan...
wats with the Asian buying past 1 week , i cant be awake 24 hrs , sigh
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