sell after 1.1583
- #4,004
- Nov 8, 2017 2:30am Nov 8, 2017 2:30am
- Joined Aug 2017 | Status: Trader | 3,293 Posts
Its all just one persons opinion
- #4,005
- Nov 8, 2017 2:54am Nov 8, 2017 2:54am
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
Focus only on what truly matters!
From here I will stay on the sidelines for a while.. new sideways channel forming on M30.. 1.1613/19 zone is critical and it took bulls so much effort to reach.. still not touched.. I need more data.. my moving average lines are tangled.. so time will show.. patience here.. Edit: also first macd divergence on M30 and a minor drop started right after.. Stay Green
MAKE IT RAIN
- #4,009
- Nov 8, 2017 3:19am Nov 8, 2017 3:19am
- Joined Aug 2017 | Status: Trader | 3,293 Posts
Its all just one persons opinion
- #4,010
- Nov 8, 2017 3:25am Nov 8, 2017 3:25am
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
{quote} if crosses that 1.1613 strong resistance, that M30 Fibonacci Symmetry my work very nice
What I do in hesitant situations like this is: I create a "false trade" in my mind.. for example if I would short at 1.1605 level.. My SL would go slightly above 1.1620.. let's say 1.1622.. so I would start looking for new buy setups only once 1.1622 is touched.. If I see that I would feel more confident buying swing lows..
Again it is just one example of the many things I do but it helps..
Stay Green
Focus only on what truly matters!
- #4,015
- Nov 8, 2017 3:41am Nov 8, 2017 3:41am
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
Focus only on what truly matters!
{quote} No need to sit and watch.. check with each new 30M candle from your phone and once (and only when) you see an opportunity then you sit and watch M5 for some time until you enter.. after that you go back to M30 and only check new candle progress via phone.. I never sit and watch charts.. live your life bro.. my half cents.. Stay Green
. Can you just clearify some tiny but important steps and what is for you opportunity? I would guess that you get in your blood after many years of trading, but Im still developing this.30M finishes in green how much from EMA and SMA? I guess volume is also important? And then I switch to 5M chart and observe the right moment. What is the crucial moment for you? Sorry for this basic questions but I can just thank you that we recieved and still recieving the most useful and pratctical tips so that we are able to trade in a proper direction.
Thanks and best regards, D.
- #4,018
- Nov 8, 2017 5:30am Nov 8, 2017 5:30am
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
{quote} Hiya Ata, I think this what you wrote is very important for trading, specialy for novices, including me
- Since we are below the red 6 ema, it could be an opportunity for bulls to attack a climb up above 6 ema: meaning risking buying with swing lows could be profitable: BUT with the hopes that 1.1595 will break so it is a dangerous game..
- Selling based on Daily would not be an option below 6 ema.. I always prefer to sell while candles are above 6 ema.. I have still one daily sell trend running which I opened at 1.1696 and I keep that as long as daily candles don't close above 6 ema. That is not an intraday trade so ignore it in that sense but to explain how Daily chart affects everything on smaller timeframes I had to mention it. Therefore based on Daily I would start looking for new sell entries only once price arrives above 6 ema starting from 1.1622 and above.. where to short would be a mystery and I would go step by step each day depending on bull pressure. The logic is to sell as high as possible to be able to get out if it turns out I was wrong. That logic minimizes losses and maximizes profits.
- Once I see bullish weakness above 6 ema daily chart, I would switch down to H1 or M30 and look for sell entries with same logic..
Later I will share updated version of 30M chart and try to explain more.. hope this helps a little bit..
Stay Green
Focus only on what truly matters!
Heya, actually this is exactly what I wanted to hear and it is very useful knowledge you share. Kinda secrets for forex "cooking" tradin. I already made about 15 pdf files consisted from users questions and your very useful tips you shared here, including graphs. At some point I will forward all these back to you so you might use it to share or to make a book for beginners .
Yes, definetely looking forward for the demonstration also on the 30M chart.
Best regards, d.
.Yes, definetely looking forward for the demonstration also on the 30M chart.
Best regards, d.
- #4,020
- Nov 8, 2017 5:48am Nov 8, 2017 5:48am
Heya, actually this is exactly what I wanted to hear and it is very useful knowledge you share. Kinda secrets for forex "cooking" tradin. I already made about 15 pdf files consisted from users questions and your very useful tips you shared here, including graphs. At some point I will forward all these back to you so you might use it to share or to make a book for beginners