Great minds think alike.
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Adr, psych levels, demand & supply trading 14 replies
Standard Pivots and Fibonnaci Pivots? 9 replies
EUR/USD 5min - Trendlines and Pivots 379 replies
Important psych levels 1 reply
Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies
DislikedCAble's just had a wide range high volume 5 min candle which has broken up thru the 300 level and then follwed up thru the DP and into the fib decision zone that I mentioned earlier. This last rally started an hour ago off a higher low and the Euro's also rallying.
I'm long with my TP just under the 350 level....
Edit: Target hit, pips bankedIgnored
DislikedSelection of programs for the analysis has found, for whom it is necessary look here http://www.fxstrategy.nm.ru/forex.htmIgnored
DislikedMoney, when you post a chart, could you please add a little text to let us know what it is you're either doing or expecting to do? Some of us are a little slow on the uptake sometimes. (It's our age, you know!)Ignored
DislikedIt's always the same...
Green candle at the line, go long.
Red candle at the line, go short.Ignored
DislikedYep, I can see that. It's just that I see a spinning-top and what looks like another one forming just under the xx75 line. I know you treat the xx75 line as a psych-line, so I'm guessing that because the upper shadow on the first spinning-top breached the psych-line, then because it's a red candle, you've gone short?Ignored
Disliked4380 level hit, this is also the 50% retrace of the drop from yesterday so I took profit on my latest long and aslo put on a small short with a tight stop....Ignored
DislikedNot exactly...
These are the rules:
Green candle at the line, go long.
Red candle at the line, go short.
There are no other rules.Ignored
DislikedThanks, pal. Much appreciated.
Edit: Is that you in the Elvis suit?Ignored
DislikedI take it you are talking about the candle that already closed. If it's red and you go short simply on the basis of the above rule, how do you know that the red candle was not a one-bar retracement. If the day's direction is up, going short just because you had a "red candle at the line" sounds a bit... unusualIgnored
DislikedNO. You can't trade a closed candle.
These are the rules:
Current candle Green at the line, go long.
Current candle Red at the line, go short.
There are no other rules.
Is that better?Ignored
DislikedWhat about Risk-Reward? Candle is green at the line, you go Long, and the price turn south after 20-25 pips and never looks back.
Even if you are glued to the monitor, how do you decide when to pull the triger (and when the price does reverse or when it simply "hesitates").
Where do you put your SL, M4N?Ignored