EUR/CAD 5M +7p explanation on chart . FXCyborg thank you for shering your knowledge.
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DislikedDear Traders I really like this trading method, but I feel like I'm doing something wrong somewhere. Is this a valid trade setup( marked with a check sign)? The reason I'm not so so sure is that price broke out area marked with eclipse and made low of the day. Now we have two bear candles and bullish engulfying candle ( marked with check sign), where I think the setup has cpmpleted and prices comes back to test that area, which is our long entry, marked with UP arrow. Is that correct? Take profit, is where the structural high needs to be, marked...Ignored
Disliked{quote} You'll get there, put the hours in and you'll find even better setupsIgnored
Disliked{quote} kindly go back to the first post and all my replies, you'll see why these are wrong re: engulfing.Ignored
Dislikedwas this EU setup a valid sell trade? i know the entry would have been on the very next candle, but on lower time frames there would have been an argument to jump into a sell trade. {image}Ignored
Disliked{quote} Thats a Sell set up but you are in an up trend my friend, look at my Buy set up at post #1376 from today on the M5 USDCHF chart. The first thing that you have to do when looking for a set up is to determine what the trend is, and be looking for an accumulation area where the 3 bar set up will happen.Ignored
DislikedHere is a nice Buy set up for from today's USDCHF M5 chart. We are in an up trend and you can clearly see the accumulation zone prior to the set up, then the 2 touch backs for the Buys. {image}Ignored
Disliked{quote} pipsquick nice chart. What are you using to determine the trend? is it daily charts?Ignored
Disliked{quote} If you are trading the M1/M5, then look at the H1 and see what the trend is. The USDCHF has been in an up trend for 10-11 days or so, but the trend can change on any given day. If you are trading on the H1 chart, then look to the H4 or D1 for the overall trend. In my Buy from today I looked at the H1 and it was very clear that it was an up trend. If the EURUSD is in a down trend which it currently is, then there is a 99% chance that the USDCHF will be in an up trend, so it pays to get to know your pairs and how they behave.Ignored
Dislikedwould this qualify for a buy set up, as long as there is a pull back thanks for your input. {image}Ignored