Gbpcad floating between 50 and 60 pips up at the moment and at break even so going to leave it running. Nothing else appeals at the close of my brokers 4h candle so going to sit and watch.
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DislikedGone a bit sideways overnight but no good reason to close it. I've attached a pic of gbpusd as well. On the face of it with the HA change and the stoch cross it might look like a good trade and it may well work out but I wouldn't want to sell it so close to the large 1.55 round number. These levels break as often as they hold but it's better probability not to trade directly into support or resistance. Also I'm already short a gbp pair, albeit at break even so I'm not desperate to be short gbp.Ignored
DislikedHi Hugh,
THe GDP/USD chart mentioned is where I struggle. Maybe you an help.
The way i see it is both the CCI 6 and Stoch have crossed, no question. However the uptrend TL isn't being tested ...yet.
So the question is do we play a trade to the downside now or wait for the trend line to break.
Any thoughts there ?Ignored
DislikedHeres another thing i noticed while I was traveling....ie missed opportunities !!
When the CCI / Stoch crosses it usually runs for a good couple of candles.
How many ??? there's no guarantee but as Eelfranz and his TDI indicator suggests at least 3-8 candles. I don't have TDI so I use cci 6 which was suggested by Eelfranz instead.
Even if you got in on every signal, (which I don't think you should..more on that later ), and got out with half your position after 2-3 candles, then bought your SL to BE and trailed the stop, or what ever method you...Ignored
DislikedI need to look into using MT4 platform more....I guess in time
Unfortunately Im using this platform which in my opinion is average, But Ive gotten use to it now.
Hugh If you could run the simulator thingy ? on MT 4 ??? let us know what your thoughts are on this ?? That might be cool to explore the results.
Dam, this is a tough game man....But I think were on to something here.
Next Id like to talk/discuss how I draw Trend lines i.e TL1 and TL 2 for profit taking targets etc, something...which Im still learning, BUT have real significance...Ignored