Disliked{quote} {image} GU M15 Apr 14 Lesson 2: Big E' Post#119 I generally quit trading at 6am Pacific (9am est). Why? The market might cook some for the next hour or two but unless there is a hot news announcement during the day... the market pretty much peters out and ranges... I don't want to be trading in that junk. Thats where dealers make most of your money is ranging markets and 5-15 min time frame trading... you got to quit trading those trash time frames. Granted there are...Ignored
Let look at the next higher TF H1.
after the news event the day before, we see a big move up to BRN 1.3000.
Big E Post#4746
DislikedRemember when your looking at PA... it loves to return to previous hi or lo levels... check out a few charts. Remember to always consider your forex basics when thinking about entering a trade... Does it look week or strong... How close are we to previous hi's or lo's... Are we close to 100 levels... How many candles was the last reversal... Are we in consolidation... Are we dealing with little candles... When is news coming... 12-2 & 4-6 angle? Should take you a split second to determine these things...Ignored
- Remember when your looking at PA... it loves to return to previous hi or lo levels... check out a few charts.
- Remember to always consider your forex basics when thinking about entering a trade...
- Does it look week or strong...
- How close are we to previous hi's or lo's...
- Are we close to 100 levels...
- How many candles was the last reversal...
- Are we in consolidation...
- Are we dealing with little candles...
- When is news coming...
- 12-2 & 4-6 angle?
- Should take you a split second to determine these things...
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> experienced traders knowing these and seeing the H1 chart would have to wait for the market to start its next move before making any trade decision. selling by picking top after a move UP is simply gambling which rely on luck.
>> 14 hours 'hope and pray' will cause mental fatigue and ruin your mental state for trading the rest of the day.
>>> Post#647 basic forex stuff
stay tuned for Lesson 4
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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