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Roadmap - A Way To Read Markets

  • #2,321
  • Jun 8, 2020 2:36am Jun 8, 2020 2:36am
Quoting aud
{quote} It was clear, sorry I didn't look close enough. I am used to long trades taken after a green bar or on engulf of a red bar.
No worries!

That's one the hardest things to get used to for me - taking longs after price has gone down into the EMA... Seems unnatural
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #2,322
  • Jun 8, 2020 2:42am Jun 8, 2020 2:42am
Quick winner this AM on USDCAD.
"looking left" a key part of my strategy.
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  • #2,323
  • Jun 8, 2020 2:43am Jun 8, 2020 2:43am
Second trade of day. V Small win.

Got out when price closed outside of EMA channel. There was a previous spike that I should have closed at.

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We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #2,324
  • Jun 8, 2020 3:10am Jun 8, 2020 3:10am
Quoting Berserker
{quote} Hi, thanks If I dial out to the hourly chart, I can see resistance at ~0.9636... Is this what you are referring too? Guess I didn't look that far out.
No - Read Laura's posts about Zooming out - she explains it all.
Just go through all her posts and you will come to it.
every Saint has a past. Every Sinner has a Future
  • #2,325
  • Jun 8, 2020 3:13am Jun 8, 2020 3:13am
Quoting sr2
{quote} LOL. Thank you turnip15 - took me a while, but I read every post. Yours are very good :-) Now looking to implement
Please note I am small fry here. Laura is the one to read closely.
every Saint has a past. Every Sinner has a Future
  • #2,326
  • Jun 8, 2020 3:37am Jun 8, 2020 3:37am
Quoting turnip15
{quote} No - Read Laura's posts about Zooming out - she explains it all. Just go through all her posts and you will come to it.
Thanks. I've read the whole thread - I'll go back and revisit that part! There's a lot to take in
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #2,327
  • Jun 8, 2020 5:47am Jun 8, 2020 5:47am
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Closed an oil trade for +45. Price had previously broken Daily Open Line and then thought about going back to re-test it but edged back down. Entered short. My exit was 3 bars too late as I should have been out on the spike in my favour for around +60 but, oh well
  • #2,328
  • Jun 8, 2020 6:04am Jun 8, 2020 6:04am
[quote = M.Propper; 12985152] Ahoj Laura, ďakujem za stratégiu. Vždy sa mi podarí s tým robiť dobré obchody. Ale mám malý problém s ADR. Aké je optimálne nastavenie? Pre rozsah D, rozsah W a rozsah M? (pripojený je ukazovateľ multi MA, ktorý môže dobre vyhovovať vašej stratégii.) {image} {file} {file} [/ quote]
HI, can you upload and share here template to be able to set the indicator Multi MA8?
  • #2,329
  • Jun 8, 2020 6:13am Jun 8, 2020 6:13am
I took an usdcad too but at a different place for 18 pips at fridays low
lacking some good candidates today
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MTF PA with indicators = a winning team
  • #2,330
  • Jun 8, 2020 6:19am Jun 8, 2020 6:19am
Quoting LauraT
{image} Closed an oil trade for +45. Price had previously broken Daily Open Line and then thought about going back to re-test it but edged back down. Entered short. My exit was 3 bars too late as I should have been out on the spike in my favour for around +60 but, oh well
yes - I noticed price calmed down after 11 am - ish. Before that, especially from 8 am, the price really threw itself around -wide bars etc.


EDIT:
Someone stole my OPEN line ! - I see it on a 5 minute chart but it disappeared on the one minute ! Weird.
every Saint has a past. Every Sinner has a Future
  • #2,331
  • Jun 8, 2020 6:34am Jun 8, 2020 6:34am
be sure the open line is not the same as the backgournd colour. I had the same problem last week and it took me while to find out
MTF PA with indicators = a winning team
  • #2,332
  • Jun 8, 2020 6:45am Jun 8, 2020 6:45am
Quoting notyetthere
I took an usdcad too but at a different place for 18 pips at fridays low lacking some good candidates today {image}
Hi notyetthere, what is that on the lower left corner in your chart, looks really cool, is that an indicator?
  • #2,333
  • Jun 8, 2020 6:58am Jun 8, 2020 6:58am
it's just a clock lol
MTF PA with indicators = a winning team
  • #2,334
  • Jun 8, 2020 7:00am Jun 8, 2020 7:00am
Quoting notyetthere
it's just a clock lol
Can You Share that clock Please?
  • #2,335
  • Jun 8, 2020 7:36am Jun 8, 2020 7:36am
Quoting fxraser
[quote = M.Propper; 12985152] Ahoj Laura, ďakujem za stratégiu. Vždy sa mi podarí s tým robiť dobré obchody. Ale mám malý problém s ADR. Aké je optimálne nastavenie? Pre rozsah D, rozsah W a rozsah M? (pripojený je ukazovateľ multi MA, ktorý môže dobre vyhovovať vašej stratégii.) {image} {file} {file} [/ quote] HI, can you upload and share here template to be able to set the indicator Multi MA8?
the settings....
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  • #2,336
  • Jun 8, 2020 7:58am Jun 8, 2020 7:58am
Quoting TheG-Lover
{quote} Oradba, I am quite intrigued by your approach. Perhaps over the next few days you could share/post an example or two of your technique? Would be much appreciated...as a part time trader, full time professional in other aspect
Here's a trade I am currently in. Note that the SMA200 is all in the same direction (momentum). Note the RSI (more momentum). I simply followed Laura's rules from there. TP is the DayLo, SL is approximately the ADR high on the D1 (H1 is shown). I have found it better to pick my stop from the D1 timeframe and confirm my target on H1. When I hit my first TP, I take off half of my position and let the rest run. If it gets to 50 pips or more, I will set a trailing SL, either 7.5 or ten pips, depending on what I think I am seeing in regard to retracement, etc.

What I am going to work on now is when to build my position on an ongoing trend.
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  • #2,337
  • Jun 8, 2020 8:04am Jun 8, 2020 8:04am
Nasdaq - short and long per Laura lines ( Sounds like Cilla Black - 'Lora Lorra laughs' - that's if anyone here is old enough to remember her)
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every Saint has a past. Every Sinner has a Future
  • #2,338
  • Jun 8, 2020 11:23am Jun 8, 2020 11:23am
the clock: https://visualskins.com/skin/stylish-digital-clock
MTF PA with indicators = a winning team
  • #2,339
  • Jun 8, 2020 12:30pm Jun 8, 2020 12:30pm
Quoting notyetthere
the clock: https://visualskins.com/skin/stylish-digital-clock
Thank You!
  • #2,340
  • Jun 8, 2020 1:06pm Jun 8, 2020 1:06pm
Finished the day with a Dow long.

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Took profit just before ADR High and market close.
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