What is the best moment to jump in?Maybe the break of previous High?
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What is the best moment to jump in?Maybe the break of previous High? {image}
- #21,443
- Feb 5, 2019 4:49am Feb 5, 2019 4:49am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} I'm in with +16 pips at the moment. If PA breaks RND number (which rappresent old Highs too) and conferm, could be a run for about 90 pips IMO {image}
Per aspera ad astra
- #21,444
- Edited 5:44am Feb 5, 2019 5:22am | Edited 5:44am
- | Joined Dec 2015 | Status: Trader | 509 Posts
{quote} Hi, you have a clear slingshot long (DDS trade) on H1. When delayed stoch. goes down and then resume to meet Rsioma, you have a DDS trade that is a classical Alien pattern. You have also full ADX power. So
Edit: I will stay in till H1 89 ADX loses power
- #21,450
- Feb 6, 2019 4:37am Feb 6, 2019 4:37am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
Cable (GPB/USD) slumped through the key handle of 1.300 during Tuesday’s afternoon trading session, the accelerant for the sell off, which saw the major pair fall through the second level of support as it fell by circa 0.62% on the day, appeared to be a weak Markit services PMI print, combined with the lack of progress the U.K. prime minister May has made in relation to the Brexit withdrawal agreement. GPB/USD was trading down 1% weekly at 20:30pm U.K. time, printing a fresh two week low, whilst eradicating the majority of the gains made in 2019. Mrs. May now has seven days to return to Parliament, to organise a fresh meaningful vote, after she failed to push through her previous attempt in mid January. So far the only progress made appears to be a hastily arranged visit to Brussels, with no defined objective in place. Despite continual insistence from Michel Barnier and Donald Tusk; that the backstop mechanism will remain in place, Mrs. May, who appears to be emboldened by Parliament narrowly voting for a possible route forward by way of an amendment, that is probably impossible to deliver on, is refusing to pay attention to the European Union’s standpoint. The precarious position of the U.K.’s economy, was illustrated by the latest IHS Markit services PMI, which came in at 50.1, just above the critical level for all PMIs of 50, which separates contraction from growth. Effectively, the U.K. is only 0.1% away from its predominant economic sector (services) entering recession. This data point should not be underestimated, services growth and activity is absolutely crucial for U.K. GDP growth. And with the U.K. manufacturing and construction PMIs also missing forecast by some distance this week, Markit’s leading indicators are all pointing to the U.K. economy either stagnating, or entering recession.
Per aspera ad astra
- #21,452
- Feb 8, 2019 5:29am Feb 8, 2019 5:29am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
@jpadvisor what you are doing is very important. what i've noticed, 9 of 10 times i lose, it's because of news. when i'm trading, sometimes trades are longer than 1 day. those longer trades, at some point there is news. my question: how do you create your prognoses? where do you get your info from and what's your system/plan to create your prognoses. iow how did you learn,which steps, you get a feel/make those news prognoses?
As I am mostly a daytrader, first thing I do in the morning is to read all news about markets and watch carefully the economic calendar.
I use to trade CONFLUENCE between news and technical analysis and this is also the way I do my prognosis.
Fxstreet and Investing.com are some of the sites I scroll often during the day.
If you want to learn how to do a good prognosis, read all economics feed every day. This is my little key.
Cheers
Per aspera ad astra
- #21,455
- Feb 11, 2019 5:41am Feb 11, 2019 5:41am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
@jpadvisor do you write them down on paper? can you tell each step from newsfeed to your summary. iow your way of thinking from newsfeed to create your prognose step by step. 1: read news feed 2: which ones are important, write them down? 3:? you're a right about confluence. always wanted to avoid news, that's why i've scalped. but as a daytrader or longer, i have to use news. i don't like it, because it's so difficult to create a prognose. but TA alone isn't enough, i need to use news prognoses to make the right decision.
It takes time to learn how markets move and all interactions between raw materials, forex, indices and politics.
I can only tell you to keep every day as much informed as you can about economics and when you feel you understand how markets move, watch the calendar and compare the consensus numbers with all you know and then follow TA with alien charts.
Patience is needed.
Per aspera ad astra
- #21,459
- Edited 8:53am Feb 11, 2019 6:49am | Edited 8:53am
- | Joined Nov 2016 | Status: Trader | 99 Posts
@jpadvisor
so, you don't have a system to filter news?
i do think, when you have a step by step plan/journal you could be far more accurate. because you can read your progress in thinking every day and make changes in it to be more accurate the next day. i have a TA journal every day.
that's what i'm missing, a separate daily news journal in combo with a daily TA journal.
i have created my standard setup for TA. but i now have also to create my own template for news. that's gonna take months
@danielesse87
1m tf are very tricky using these indi's. for scalping i recommend PA. perhaps in combo with these indi's. but 1m tf's have total different dynamics than 4h or 1d tf, and i have the feeling this system is more optimal for 4h/1d tf, but perhaps that's my personal choice.
so, you don't have a system to filter news?
i do think, when you have a step by step plan/journal you could be far more accurate. because you can read your progress in thinking every day and make changes in it to be more accurate the next day. i have a TA journal every day.
that's what i'm missing, a separate daily news journal in combo with a daily TA journal.
i have created my standard setup for TA. but i now have also to create my own template for news. that's gonna take months
@danielesse87
1m tf are very tricky using these indi's. for scalping i recommend PA. perhaps in combo with these indi's. but 1m tf's have total different dynamics than 4h or 1d tf, and i have the feeling this system is more optimal for 4h/1d tf, but perhaps that's my personal choice.
My AUDUSD trade seems to be good... now I'm thinking about a good exit...It is not sure that it will do the 5th leg so I thing that I will exit when 89 ADX will lose power... Divergence on H1 worries me... Anyway, I'm starting to feel lonely here LOL
