I had seen this when i sat down at my computer an hour ago but I didn't think that a divergence like that which was over 2 and a half hours ago would be able to ignite such a strong move on the open of the FF markets. there was a small move up but i thought it had fizzled out. I guess i will have to add that to the thought process for future.
{quote} Hi Alan i really appreciate you taking the time to reply thank you! I will read over some of the rules again to be sure i am not missing something. My 108 bar is currently set at around 8am BST as i am here in the UK and I did have the next level on the chart it was just further up as there was a large gap to the next 5m average high.
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Your 108 candle should be set at the open of 7am BST. That is the start of Frankfurt.
Success means going from failure to failure without loss of enthusiasm
I'm curious how you manage to be consistent with such low stop losses. I've never been able to make any money with stops smaller than 10 pips ( coming from a loss 10 mins ago )
{quote} I had seen this when i sat down at my computer an hour ago but I didn't think that a divergence like that which was over 2 and a half hours ago would be able to ignite such a strong move on the open of the FF markets. there was a small move up but i thought it had fizzled out. I guess i will have to add that to the thought process for future.
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Remember this is the open and is likely to be explosive in nature, once the major volume is in it then tends to get choppy as some hold, fold or add.
Currently the pause has come at the daily R1 level. This was a HD on the 5 min so a reasonable place to take a hedge if the profit has not been made yet
Currently the bears would have stopped out the 3rd of those hypothetical entries .
So now if it turns long again we would have to close the hedge for the profit made and re-apply the 3rd long entry to make up the balance of the trade.
I have actually just picked up on something i missed earlier, its on your chart also Alan. the crossover divergence on the RSI seems to carry alot of weight with swings in the opposite direction across the EMA.
I will have to be more dillgent, that move from Entry to the tip before it reversed was 70+ pips
I have actually just picked up on something i missed earlier, its on your chart also Alan. the crossover divergence on the RSI seems to carry alot of weight with swings in the opposite direction across the EMA. I will have to be more dillgent, that move from Entry to the tip before it reversed was 70+ pips {image}
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Not always the case but it does suggest a final push before the turn
I think i will spend the rest of the day doing homework, looking through previous charts for study,
I need an extra dose of vigilance on the open of Frankfurt and ensure i pull the trigger early, I have been awaiting extra confirmation that i am reading it right before i enter
Much better day for me yesterday got in at the bottom of the trade you can see below and TP at the top, I Only got one entry in on the trade as at the time the price action was a bit indecisive in that area. Target hit and 44 pips taken.
Much better day for me yesterday got in at the bottom of the trade you can see below and TP at the top, I Only got one entry in on the trade as at the time the price action was a bit indecisive in that area. Target hit and 44 pips taken. {image} {image}
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I don't want to blow the wind out of your sails but I think you would prefer me to be honest.
I have drawn up the chart for you here with the key points included.
It was difficult to trade especially with those two HD's in the middle (hedges).
If we look at todays 1H chart we see price is stuck between the 50% ABCD levels and also between both the Bull and Bear supports. We need a breakout.. {image}
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Hi Alan ,
Could you make a post like this everyday if time permits? I'm sure I also speak for others in saying that it would give extra confirmation that our analysis is correct.
{quote} Hi Alan , Could you make a post like this everyday if time permits? I'm sure I also speak for others in saying that it would give extra confirmation that our analysis is correct. thank you
{quote} Hi Alan , Could you make a post like this everyday if time permits? I'm sure I also speak for others in saying that it would give extra confirmation that our analysis is correct. thank you
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Well yes I could but wouldn't it be better if I corrected your analysis so you learn by practical practice.
Currently on the hour chart we see the bears have taken out the bull support. I have marked the chart to show where this happens and how often it does so.
{quote} Well yes I could but wouldn't it be better if I corrected your analysis so you learn by practical practice. Currently on the hour chart we see the bears have taken out the bull support. I have marked the chart to show where this happens and how often it does so. The Magenta lines are my Bull and Bear supports.. {image}
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Thank you! I took a very modest 10 pips at the London open. I was gonna look for another short entry due to the bull support being taken out but it seems like it's overextended for today. Any thoughts?
Trading the Cable swings via averages
