{quote}
Short Cable Long Gold....
Cable Update (GBPUSD)
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{quote} GU H8 target 1.3762x...
I'm not ashamed
to change... if it's to my detriment ...I'm waiting for my signal
again and again... God bless you phd893 and God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
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Insane in the Brain..
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{quote} Good qustion.. Trying to answer it in simplest form Start with a chart first {image} It doesn't matter a lot where the pullback went, most important that it faces resistance on two or more different time frames at the same time. Left side of the chart always giving you clue what she's up to next. The more charts you see the pair facing resistance on, the more reasons it has to end with pullback and resume the trend, and the more the probability that the trade won't go against you except for a few pips....
No matter what chart period I look at the price is the same. On M1 price at daily high, means the price on D1 is at daily high and vice versa. What is the formula you use for determining resistance and support? A previous low that was violated could become "resistance" later on. D1 low will always be one H4's low but H4 low is not necessarily D1 low.
The areas of interest on my charts are between the high of the day and H1 highest open, low of the day and H1 lowest open.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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The high price of day was 78% of ATR(14) from daily open price.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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{quote} I'm not ashamed
God bless everyone! The only impartial feeling is love. It is also the only feeling of God.
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MY OPINION NOT FINANCIAL ADVISE
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{quote} Can I ask you what you mean by confluence of liquidity at whipsaw zone, weak supply. I'd identified it as strong supply just curious how you identify it as weak supply. Thanks for all your work.
Take me sometine to put up a chart abd some notes with it. My apology for the late response
We begin with chart. This is H1 tf on the left where price reacted to. I call it weak supply explained in chart
Would have liked to see the H4 resistance break severely which it didn't happen and the price went down to the support line shown in H1
- Price had the chance to break the resistance in H1 which it couldn't (I would to give it another chance)
The resistance at where H4 is now is not that signifact
The next resistance zone above is more sinificantit broke the strcture on 15th Sept
.
This is deep pull back almost 40 pips
I come from the future.
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