{quote} The channel breached the ADR twice during that trade. How were you feeling during that time and how close did you get to exiting? Where was your SL when you opened the trade?
{quote} Naughty I know. But here is a chart with ma200 and smooth ma 200 ( Smooth is Black line - normal ma is red) Yesterdays high shown. Lots of reports ( Calendar) today so I suppose trading with more caution was advised? {image}
{quote} It's an interesting idea but see chart below. The Gann Hi Lo would have you chopped to death in that period, whereas the channel would keep you long. {image}
{quote} You have right it 's more difficult when the price is in sideways consolidation ,we can lose lot of money. With 2 channels histo ,we can avoid some false signals (Gray color) . Or don't trade when the 2 channels are too close .
{quote} You have right it 's more difficult when the price is in sideways consolidation ,we can lose lot of money. With 2 channels histo ,we can avoid some false signals (Gray color) . Or don't trade when the 2 channels are too close .
{image} I try to keep stressing that ADR Reversals are advanced and risky, and that traders should stick to the basics until they have mastered those. I want to highlight an ADR Reversal I took today though, in the hope that I might be able to shed some light on why I chose it. Price rose to the ADR High but RSI remained at or below 50. In addition, the MTF Dashboard was showing red for weekly and daily timeframes. Although the markets can do anything, we do try to stack probabilities in our favour. The probability of this turning back down to the...
{quote} Of course this assumes that you have a broker who provides the currency indices in their symbols list. May I ask which broker you're using?
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