Roadmap - A Way To Read Markets | Page 32 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Software tools for LauraT's Roadmap 169 replies

Forex Brokerage Roadmap 4 replies

Best way to read all of someone's posts? 3 replies

Simple way to read chart 11 replies

Attachments: Roadmap - A Way To Read Markets
Exit Attachments

Roadmap - A Way To Read Markets

  • #621
  • Apr 26, 2020 1:32pm Apr 26, 2020 1:32pm
Quoting karun
{quote} Thank you. I understand the channel did not touch the SMA, but the channel was already below the SMA for a while. In those circumstances, should we wait until the channel touches the SMA and move little further from SMA to reinforce the resistance/support?
No need to wait IF you see signs of exhaustion
  • #622
  • Apr 26, 2020 1:41pm Apr 26, 2020 1:41pm
[quote=Robin68;12901767]
Quoting Wellington
Hi everyone - in need of HELP! If you want to have this chart setting like on the picture, I can upload you all Indis and the profile. {image}
I have been following this thread from the very first post by Laura and Hanover. I do not understand how to read the dashboard by Hanover. It is meant to easy my life but cannot comprehend how to read and apply it. Anyone can help with this.
  • #623
  • Apr 26, 2020 2:18pm Apr 26, 2020 2:18pm
[quote=Robin68;12901767]
Quoting Wellington
Hi everyone - in need of HELP! If you want to have this chart setting like on the picture, I can upload you all Indis and the profile. {image}
Yes, that would be perfect - thank you
  • #624
  • Apr 26, 2020 3:26pm Apr 26, 2020 3:26pm
Quoting Jazz1964
{quote} Ah thank you Erebus, that was quick. Let me check and find the indicators, hope they are somewhere online. Fun text Sir
Here's a tip, click on my Name, see my profile, Forum Attachments, and then Files (281)

Lots of goodies there, in fact, I lost a computer and only just got a new laptop, and that's where I found many of my previously useful Utilities

Cheers, John
It takes a lot for me to IGNORE you, but you can try.
  • #625
  • Apr 26, 2020 4:45pm Apr 26, 2020 4:45pm
Quoting LauraT
{quote} Hi https://cdn-resources.faireconomy.me....png?v=1.0.0.3 You trade the timeframe of your choice and do not need to analyse different timeframes (unless you wish to carry out multi-timeframe analysis). The reason I mention M1-M30 for short-term trading and H1-W1 for long-term trading is in relation to the dashboard. The probabilities are higher of a successful trade if the group of timeframes is at least 50% in agreement. So, if you saw a short...
Hi,This leads me to an other question. For example, if we see a long setup on a 5min chart, 1min and 5min are in green on the dashboard anyway. And we will have 50% in agreement of M1-M30 timeframes... Does it mean that every setup on 5min is a high probability trade ?Thanks
  • #626
  • Apr 26, 2020 5:13pm Apr 26, 2020 5:13pm
Quoting dmti
{quote} Hi,This leads me to an other question. For example, if we see a long setup on a 5min chart, 1min and 5min are in green on the dashboard anyway. And we will have 50% in agreement of M1-M30 timeframes... Does it mean that every setup on 5min is a high probability trade ?Thanks
Hi dmti
If the 5M is green it doesn’t necessarily mean that the 1M will be green too.
cheers
  • #627
  • Edited 6:39pm Apr 26, 2020 6:16pm | Edited 6:39pm
Hi LauraT,

Would this be considered valid entry? Should I have taken it? - It was 35 Minutes into Market opening on Sunday Evening NY Time and I was not sure if I should wait for the market to become more active or take the trade. Similar scenario on NZDUSD and USDJPY - These are on M5
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 129 KB
  • #628
  • Apr 26, 2020 6:37pm Apr 26, 2020 6:37pm
Another on EU, this is still forming on M30 - problem is lower TF SMA's are in green, higher TF are in Red and RSI is already at 50.xx - should take it leave it?!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 120 KB
  • #629
  • Apr 26, 2020 7:12pm Apr 26, 2020 7:12pm
Quoting karun
Another on EU, this is still forming on M30 - problem is lower TF SMA's are in green, higher TF are in Red and RSI is already at 50.xx - should take it leave it?! {image}
Today's range is 8 pips, it's Monday, no Europe session, no USA session, no news, be patient

Laura is in UK, it's 1 am, let her sleep

If your absolutely desperate to trade, just do it.

What's the worst that could happen?

It takes a lot for me to IGNORE you, but you can try.
  • #630
  • Apr 26, 2020 7:24pm Apr 26, 2020 7:24pm
Quoting karun
Hi
If you are absolutely determined to trade so quickly on a Monday, look for the early strength and weakness of the currencies

Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-27_10-19-17.jpg Size: 390 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-27_10-19-46.jpg Size: 34 KB
It takes a lot for me to IGNORE you, but you can try.
  • #631
  • Apr 26, 2020 7:37pm Apr 26, 2020 7:37pm
Quoting Erebus
{quote} If you are absolutely determined to trade so quickly on a Monday, look for the early strength and weakness of the currencies {image} {image}
Thank you, I'm not desperate to trade, just trying to understand and posted it before I forget. Yes, I do know that Laura is in UK time zone and I wasn't expecting her to reply at this time either.
  • #632
  • Apr 26, 2020 9:33pm Apr 26, 2020 9:33pm
Hi All,

Aud is so strong today. Smashing through Daily Highs, Fibs, Pivots, Open and all.
  • #633
  • Apr 26, 2020 10:34pm Apr 26, 2020 10:34pm
Quoting whitesta
Hi All, Aud is so strong today. Smashing through Daily Highs, Fibs, Pivots, Open and all.
Yes, missed all the entries , rather did not trade any of the entries - was focusing on trying to understand the system and how it works in real time. Both AUD and NZD climbed up like crazy and now looks like in a consolidation mode on M5. Probable setup forming in AJ - but it has already jumped 40 pips from market open - so be cautious.
  • #634
  • Apr 27, 2020 12:02am Apr 27, 2020 12:02am
Quoting karun
{quote} ~~ Yes, I do know that Laura is in UK time zone and I wasn't expecting her to reply at this time either.
Well if you are opening the question to everyone! Some thoughts in case they help.

Do you want to trade the E/U when both the Eur and Usd exchanges are closed?
Do you want to trade short when on your t/f the PA looks to be going up?
Do you want to trade reversals?
Good Trading
  • #635
  • Apr 27, 2020 12:20am Apr 27, 2020 12:20am
A/J seemed like a better proposition for the start of the day. Sorry don't have the other indi on mt5.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYM15.png Size: 41 KB
Good Trading
  • #636
  • Apr 27, 2020 12:28am Apr 27, 2020 12:28am
Quoting aud
A/J seemed like a better proposition for the start of the day. Sorry don't have the other indi on mt5. {image}
EURAUD, AUDCHF and CHFJPY m1 timeframe were good trades in Tokyo session.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDCHF_Roadmap.png Size: 28 KB
Click to Enlarge Name: EURAUD_RoadMap.png Size: 29 KB
Click to Enlarge Name: CHFJPY_RoadMap.png Size: 30 KB
  • #637
  • Apr 27, 2020 12:47am Apr 27, 2020 12:47am
Thanks for the posts folks

With regard to Sunday night/Monday morning trading and the Asian session, I personally would not trade.

However, I know that for some people the Asian session is the only option they have. Fortunately, Dmh highlighted, there were opportunities out there.
  • #638
  • Apr 27, 2020 1:40am Apr 27, 2020 1:40am
Quoting Dmh
{quote} EURAUD, AUDCHF and CHFJPY m1 timeframe were good trades in Tokyo session. {image} {image} {image}
Love those tests of the Tokyo Open highs/lows before moving off in its intended direction.
Empty your mind and let the market guide you
  • #639
  • Apr 27, 2020 2:05am Apr 27, 2020 2:05am
Attached Image (click to enlarge)
Click to Enlarge Name: LCrudeSb620M1.png Size: 36 KB


Here's the type of entry Karun was talking about over the weekend. The entry I took was neither a channel cross nor a channel failure but I was trading the reversion to the SMA.

These trades are fine but, I repeat for the benefit of new traders, channel crosses and channel failures are the most basic entry types.
  • #640
  • Apr 27, 2020 3:33am Apr 27, 2020 3:33am
Hi Laura,

Thanks for this thread, I have been following it for a while and without a doubt your introduction, explanation and ongoing guidance is the clearest and most intelligible I have come across on FF.

I am a software developer by profession, but trade part time. I use cTrader rather than MT because it allows me to code indicators in a more object oriented way using a language I use in my daily work (C#). I have used your explanations and screen shots to create a similar set of indicators to those you use so now I have the complete set and can start using the knowledge you have shared in my trading.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 360 KB
4 traders viewing now