U/Chf,
I like the idea of buying around 1.0050-30 with a wide SL
I like the idea of buying around 1.0050-30 with a wide SL
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DislikedDid I ever promote our service in this thread?
I always try answer questions and post whenever I get a chance, but I am a little busy at moment due to other projects.Ignored
DislikedNo, true - I apologize for the direct dig - it's just at times some questions have been asked and no response given. The only promotion I could usually see is x00 pips with shahab and someone.
I think it is more the approach some people are after. It is all well and good to highlight the report and fib levels but there is a process that can be used to trade around the fib level not just shorting at the fib level - I remember we had a discussion on GU a while back when it squeezed through the fib levels before returning down.Ignored
DislikedLoonie : it has been a long time since I posted the ab=cd pattern on u/cad but It's good to update the progress of what we've thought.Ignored
Dislikedthanks for the help shahab and dhb. But what i was wondering was when price was reaching that resistance area from below how would we determine whether to set a pending short or or long order ? Or do we just wait to see what happens at that level and place an order on the retest in the direction of the longer term trend. in this case upIgnored
DislikedWhen you've got more than two confluence simply place a Pending Order with a SL appropriate to your TF (I usually use one ATR).
The confluences you need to look at are:
1-Support Turned Resistance and vice versa
2-Previous Support / Resistance
3-Fib level
4-Round Number like 1.6000 1.6100 ...
5-Pivot Points (Daily/weekly/monthly)
6-Important MA like 55- 100-200
7-Daily/Weekly/Monthly Support and Resistance
8-Trend Lines
9-Check RSI for Div whether hidden or classic, if you find div the probability of success will increase
Here is an example...Ignored
DislikedWhen you've got more than two confluence simply place a Pending Order with a SL appropriate to your TF (I usually use one ATR).
The confluences you need to look at are:
1-Support Turned Resistance and vice versa
2-Previous Support / Resistance
3-Fib level
4-Round Number like 1.6000 1.6100 ...
5-Pivot Points (Daily/weekly/monthly)
6-Important MA like 55- 100-200
7-Daily/Weekly/Monthly Support and Resistance
8-Trend Lines
9-Check RSI for Div whether hidden or classic, if you find div the probability of success will increase
Here...Ignored
DislikedThanks for the help shahab. i read that confluence post. I understand most of it except that formula thing you used lol. How can we dertermine whether price will hit this resistance level and bounce back down or blow straight through the resistance level turning it into support.
Ignored
DislikedInteresting, thanks.
I also only enter a trade when I have 2 or more reasons for it.
COT report can also become a reason but then I prefer to have 2 technical reasons on the chart as well.Ignored
DislikedLoonie : it has been a long time since I posted the ab=cd pattern on u/cad but It's good to update the progress of what we've thought.Ignored
DislikedWhat do you guys think ?. E/J H4 - Gartley, R/S, Convergence of Fibs.
Attachment
Btw, what settings do you guys use when saving your charts in MT4 ?Ignored