Roadmap - A Way To Read Markets

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Placed a trade last night off H1 for longer term. Price came back and tested. I felt my 1st trade was still valid so I added more to the position. If I am willing to risk 2% per day. I will enter with 1% allowing me to enter other trades or add to a position. In this case it gave me a prime opportunity to add in my additional 1%. I tried to use MT4 to place trades but i find it cumbersome. I only use MT4 for the charts. Can anyone recommend a good lot size calculator/trade manger for MT4. I just want to place my Stop, TP, Entry using horizontal lines and it automatically do the rest?

1st Entry was based of the H1 but M15 had a nice entry. Typically i have avoided Asia but it was calling my name!!

This is the View of H1 on the 1st entry


2nd Entry off f the M15 chart

Closed majority at 0.7800

Next high is on the WEEKLY!!!

Dax UK morning to 10am
Just noticed I missed a long at 9:15am. Otherwise a reasonable morning. Unfortunately not every day sees Dax flying straight up or down or in a long trend.
A normal "chipping away" day perhaps.

DAX was pretty (s)crappy this morning.

Be aware of several Red News items in the USA this afternoon. Biden speaking etc.

Ended up getting the rest of my position stopped out yester day but still made a decent %. Today I took a quick short and looks like i got out a bit early

It was really just a joke

Morning Dax was very good following basic Laura rules and 'Look Left' as per usual. Keeping it simple.

Holiday In USA Today folks.

Dax so this morning. Nice short.

EDIT: Did not mark up At 08:17am that I had a losing short. Hesitated, then got in on a pullback at top of channel.

Hi all, I have been struggling the whole week trading the DOW, but managed to catch a trade in GU short last night, to save the week.

Updated Journal Post: Trading Reversals

https://www.forexfactory.com/thread/...4#post13374254

Thanks Laura. I have added this to my template, but the price on my charts very rarely go anywhere near the 70% band. On a side note, it's quite difficult to read black writing on a dark blue background. Much prefer your usual colour scheme.

This setup of fib bands seems to work well on M1 and M5 on DOW, on higher TFs I also use BBands Deviation 3 (works on DOW)
I only trade DOW and occasionally DAX, so I do not know about their utility trading other instruments.
Your threads are of good value, especially to a careful and committed student/s.
Recognizing your work and effort I wish you the very best.
2be