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- Snr Dinero replied Aug 28, 2009
User Name, thanks for your reply. If I understood that right you are advocating entering once price meets the support of the top of the downwards trendline it has recently been following without waiting for confirmation of that support holding? The ...
- Snr Dinero replied Aug 27, 2009
I see your point, thanks for making it. For me, I'd still prefer to trade higher time frames and spend less time watching the charts. I'm sure it's a personal thing and noone should knock anyone else's preference.
- Snr Dinero replied Aug 27, 2009
No but I'm glad I closed my short earlier
- Snr Dinero replied Aug 27, 2009
Price leapt up above the top trendline in the last 4 hour candle, could be time for a retest of that trendline from above before a nice move up towards 1.4550. Jacko (or turtle), do you use the fib extension as a profit target ever or would you just ...
- Snr Dinero replied Aug 27, 2009
I believe that there are people making money scalping but to me it's a waste of time. Why would you want to sit in front of the pc screen all day when you can just place a trade in the morning with a trailing stop, go and do something with your life ...
- Snr Dinero replied Aug 27, 2009
Closed for a small loss. In hindsight it wasn't a very good trade. Live and learn...
- Snr Dinero replied Aug 27, 2009
Also sometimes it's good to put your neck on the line... If I'm wrong about this I'll look a bit silly and have to be more careful next time, if I'm right it will be a positive learning experience for me, give a little boost in confidence too and ...
- Snr Dinero replied Aug 27, 2009
Just gone short at 1.4268 just below 50% fib of the last move down and second touch of this mornings high.
- Snr Dinero replied Aug 26, 2009
That's something to aspire to! With these ranging markets are you sometimes using the 1 hour charts to choose entry points with fibonacci? The 50% level of the last move down would give a short entry point for the next move at 1.4277 or do you think ...
- Snr Dinero replied Aug 26, 2009
Just above that after it bounced. Took some profit anyway. I posted earlier that that was my plan.
- Snr Dinero replied Aug 26, 2009
No, I am trading from the 4 hour chart but I look at the daily and weekly charts to check the trend, draw trendlines and look for patterns. I am just getting started.
- Snr Dinero replied Aug 26, 2009
I had that drawn on my chart but I saw it on the daily. Thanks for your help, I think with a bit of practise I should be fine.
- Snr Dinero replied Aug 26, 2009
Yes, I was a little slow getting started today (still reading the thread) but I'm in just below 1.43 so I'm happy to be making some pips today. Thanks for your time in creating this thread, since I started trading this method I have had a few nice ...
- Snr Dinero replied Aug 26, 2009
That's really odd when that happens, dollar positive news comes out and the price goes the other way! I'm guessing it's the big players double bluffing the retail traders and trading the opposite of the fundamentals. I'm still short and stop loss at ...
- Snr Dinero replied Aug 26, 2009
Ok, so all that put together I am short from just below 1.43 with a view to taking profit somewhere near the 50% fib of the last move up... just above 1.42 but it could go lower (don't want to be greedy). A bounce from 1.41 would signal a nice long. ...
- Snr Dinero replied Aug 26, 2009
Admirably. So to sum up... Wait for confirmation before entering, pull your stops up tighter than 100 pip trailing and use a target if it looks like the move may not go as far as a good trend should and finally, ok to enter countertrend but watch ...
- Snr Dinero replied Aug 26, 2009
Hi all, I have a question regarding entries. I am au fait with technical analysis, can draw a trendline and understand price action but given the reliability of the AH strategy is it just as good to open a trade when price touches a trendline ...
- Snr Dinero replied Aug 25, 2009
If you're determined to catch the very bottom of a move then yes, go for it but how many times will you be wrong until you are right? Doesn't it make more sense to wait for a trend to establish itself and then get on board? Let the big players ...
- Snr Dinero replied Aug 24, 2009
Are they hinting to sell?