DislikedA/U looks undecided on direction at the moment and makes for harder trading. I will personally be looking to candlestick setups to guide me as to the right entry/direction.Ignored
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Sentiment: Short on cash. Long on hope.
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DislikedA/U looks undecided on direction at the moment and makes for harder trading. I will personally be looking to candlestick setups to guide me as to the right entry/direction.Ignored
DislikedHi,
I have a theory which I was hoping you guys and girls could provide some feedback on. I have just posted this in NightMoves thread but since this veer similar I thought I'd post it here too.
I believe that Trend trading is more suited to daily charts where as trading the swings and retracements is probably better done on th 4hr.
The reason I say this is that when a trend gets into motion it really goes and hence pull backs on the daily can be a rare occurrence. So would it be right to say that you can trade in the direction of the major...Ignored
DislikedHi All,
I am new to forex but already with a bias for Price Action. My limited forex training comes from forums and from using a demo account for a couple of months. I have just finished reading the whole thread and I found it very interesting and educative. Thank you DanUK for sharing your knowledge!
I would like to be part of the group and learn from you.
[color=black][font=Verdana]However, I sense the risk that this...Ignored
DislikedGBP/USD A clear bearish signal around 1.5800 would get me in but so far I haven’t seen anything worth trading.Ignored
DislikedHi fartist (could we get a little clarification on that handle... is it fart-ist or f-artist! Sorry... my childish mind is amusing me at the moment),
Under this strategy it is important to hold your positions for as long as they are technically relevant. I will hold my positions over the weekend and for as long as the chart tells me it makes sense to.
Regards,
DanIgnored
DislikedI will also use the fib retracement tool (drawn over the most recent swing in the direction of the trend) to guage how far price is retracing before I want to get in. A discount becomes of interest when price has retraced at least 38.2% of the most recent swing but ideally it should reach the 50% level before we have had a sufficient retracement. The only time this is superseded is when a very strong support/resistance level gets in the way or when a trendline gets in the way.
[color=black][font=Verdana]Here’s...Ignored
DislikedI think then it might be good if we can all start contributing to a "Watch List" and look out for potential trades we all agree with.Ignored
DislikedDon't forget guys; there are other markets out there too. I was just chatting with a fellow trendy on PM about this one...
It's an LSE stock, ABF - the uptrend has been going good for almost two years now (that's the kind of move I like to catch!).
Diversification of one's portfolio spreads risk but it also gives you more opportunities and therefore more chances to look for the right trade. Being picky about your setups helps the bottom line at the end of the day!
Regards,
DanIgnored
DislikedI suppose you mean a candlestick formation on the D1 when you say "bearish signal"? Since the last 5 D1 candles have been seemingly consolidation candles (indecision candles), does it make it harder to read a forthcoming "signal" candle to trade off of?Ignored
DislikedHi dan! That would be FARTIST! Booms.
Thanks for sharing, because sometimes i encounter traders who exit their trades on fri and reopen their trades the following week so as to prevent from uncertainty over the weekends. Like G20 meeting etc.Ignored