{quote}If you capture the time frame, other folk can probably learn more
Trade Without Fear
- #1,942
- May 22, 2020 3:58am May 22, 2020 3:58am
- | Joined Apr 2008 | Status: Trader | 1,040 Posts
{quote}
Nice trade Nick.
Good Trading
- #1,945
- May 22, 2020 4:19am May 22, 2020 4:19am
- | Joined Aug 2014 | Status: Relaxed | 1,141 Posts
YES YES I can see he's on M1 - nice 'time frame' to trade
I meant the actual time of the day, when the trade was opened and then closed, that 'time frame'
I know this can be confusing for 'johnny foreigners'
So the 'time frame' along the bottom of the chart will defo 'add value'!
Hope this clarifies it for 'policeman Dave' too
I meant the actual time of the day, when the trade was opened and then closed, that 'time frame'
I know this can be confusing for 'johnny foreigners'
So the 'time frame' along the bottom of the chart will defo 'add value'!
Hope this clarifies it for 'policeman Dave' too
used to be undecided but nowadays can't make my mind up
- #1,946
- May 22, 2020 4:19am May 22, 2020 4:19am
Hello,
I had a nice buy in EG this morning. Got out at the top and planned to get in after the retrace as the RSI showed green all over and at about 70.
I got in a bit too early and added (all still green) when it was at a better position close to the bottom EMA8.
Trade now looks like ti changed into a reversal in stead of the planned retrace. I have my joined SLs at 0.8940.
What did I do wrong, or is it just one of those that did not pan out well and should have closed earlier....?
Regards,
Ben
I had a nice buy in EG this morning. Got out at the top and planned to get in after the retrace as the RSI showed green all over and at about 70.
I got in a bit too early and added (all still green) when it was at a better position close to the bottom EMA8.
Trade now looks like ti changed into a reversal in stead of the planned retrace. I have my joined SLs at 0.8940.
What did I do wrong, or is it just one of those that did not pan out well and should have closed earlier....?
Regards,
Ben
- #1,952
- May 22, 2020 5:33am May 22, 2020 5:33am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Got into this position a little later than intended, so at a worse price. Target reached however (Yesterday's Low).
I took yesterday off my other job as part of a long holiday weekend.
So got more screen time to trade. And of course the action in most of the FX
didn't provide much for me across many pairs. But I did stay focused on GBPUSD, that
I started yesterday AM "pinballing" in post 1900.
Sometimes the market does what you think it will, and when it does, it is grand.
Notice the price behavior (volatility:size of bars) towards the end, so that told me the market dynamics changed
so once it broke that "speed line"-LauraT. I exited and stopped playing pinball.
Total 114 pips scalped at the pinball machine:
So got more screen time to trade. And of course the action in most of the FX
didn't provide much for me across many pairs. But I did stay focused on GBPUSD, that
I started yesterday AM "pinballing" in post 1900.
Sometimes the market does what you think it will, and when it does, it is grand.
Notice the price behavior (volatility:size of bars) towards the end, so that told me the market dynamics changed
so once it broke that "speed line"-LauraT. I exited and stopped playing pinball.
Total 114 pips scalped at the pinball machine:
- #1,955
- May 22, 2020 6:42am May 22, 2020 6:42am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
Time for coffee.
every Saint has a past. Every Sinner has a Future
Thought it would be fun to try to be as real time as possible with my trading today to just share
the approach. All though learning making all the annotations take some time!!
Please note: I hope you can see how LauraT's roadmap is still the backbone!
I started every morning by zooming out. I trade 5M bars.
So I zoom I start with a 1 hour chart (zoom out, look left) to see what price is showing me:
(right now looks like I took the "snapshot" this am, too far zoomed on this attached, but will come back after the trade is over
and edit a better view of how I actually started)
Found 3 key Support:Resistance areas relative to current price (not all you could see):
Here are all the drawings on the zoomed in 5M bar as well as the ones still from the zoom out:
Grayboxes are my thinking,
colored boxes are my interpretation of price action:
Green boxes are my trading approach:
Will see how this turns out!
the approach. All though learning making all the annotations take some time!!
Please note: I hope you can see how LauraT's roadmap is still the backbone!
I started every morning by zooming out. I trade 5M bars.
So I zoom I start with a 1 hour chart (zoom out, look left) to see what price is showing me:
(right now looks like I took the "snapshot" this am, too far zoomed on this attached, but will come back after the trade is over
and edit a better view of how I actually started)
Found 3 key Support:Resistance areas relative to current price (not all you could see):
Here are all the drawings on the zoomed in 5M bar as well as the ones still from the zoom out:
Grayboxes are my thinking,
colored boxes are my interpretation of price action:
Green boxes are my trading approach:
Will see how this turns out!