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EURUSD

  • #1,214,801
  • May 20, 2022 6:09am May 20, 2022 6:09am
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The Average Discount Everything
  • #1,214,802
  • May 20, 2022 6:12am May 20, 2022 6:12am
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The Average Discount Everything
  • #1,214,803
  • May 20, 2022 6:14am May 20, 2022 6:14am
Quoting Js3mwtRc
{quote} Hi DrDave an image can speak like thousand words, please post a chart, I am missing the charting package too
Here are H2, H8, and H16. I left the H2 swings in green on all 3 TFs for reference.

Perhaps this better illustrates how looking at multiple TFs: 1. provides much more valuable information than using a very limited number of TFs and; 2. gives a better view of which TF(s) your attention should be on.
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To free Gazans of Hamas, use whatever it takes.
  • #1,214,804
  • May 20, 2022 6:16am May 20, 2022 6:16am
Quoting Js3mwtRc
{quote} Does it have 8H charts?
Not as a default TF on the main selection. But it is extremely simple to define it (and just about any other TF that you would like to view) and have it available in the TF selections.
To free Gazans of Hamas, use whatever it takes.
  • #1,214,805
  • May 20, 2022 6:16am May 20, 2022 6:16am
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The Average Discount Everything
  • #1,214,806
  • May 20, 2022 6:33am May 20, 2022 6:33am
Quoting DrDave
{quote} Here are H2, H8, and H16. I left the H2 swings in green on all 3 TFs for reference. Perhaps this better illustrates how looking at multiple TFs: 1. provides much more valuable information than using a very limited number of TFs and; 2. gives a better view of which TF(s) your attention should be on. {image}{image}{image}
Now its better. I see what you say, but does this info filters and good trades you would have taken otherwise?

I definatelly have to try and check for myself!
Looking for profitable short term trades ...|
  • #1,214,807
  • Edited 6:46am May 20, 2022 6:34am | Edited 6:46am
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The Average Discount Everything
  • #1,214,808
  • May 20, 2022 7:06am May 20, 2022 7:06am
Russia is cutting gas from Finland

I asked Google

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and here is the new:

https://www.fxstreet.com/news/finlan...t-202205201029

I am sure more info needed here, but this is why EU is falling now, nothing else I can find.

Finland is in Eurozone and uses EUR as a currency
Looking for profitable short term trades ...|
  • #1,214,809
  • May 20, 2022 7:49am May 20, 2022 7:49am
Quoting Js3mwtRc
{quote} Now its better. I see what you say, but does this info filters and good trades you would have taken otherwise? I definatelly have to try and check for myself!
Well, for me, there is no filtering out of "good trades", because the "good trades" are only on 1 specific TF at any given moment.

Of course in HINDSIGHT, looking back at smaller TFs from the "correct" TF (where the trade is to be made), it OFTEN appears that you have entered too late and missed a lot of pips. This happens with trend continuation trading because when the retracement progresses through several TFs, and especially when you don't even have any kind of display of many of those TFs to be able to see how far the retracement progressed, you will be viewing the continuation swing starting on a small TF so you jump in, having no clue that 1 or 2 (even 3 or 4) higher TFs are in the retracement as well. So until the largest TF in the retracement has been confirmed as ended, there is always danger that the trend continuation price will not go very far before it FAILS and the retracement on a HIGHER TF simply continues.

This is why I have posted in other threads, "You're on the wrong time frame".

Look at this again, with attention to
"those up swings that you can see on your M5 plot are the M15. So, the attempts to end the H1 down swing could not even reach the M30 TF,"

Keep in mind that for a swing to reverse on a specific TF, EVERY TF below it MUST be reversed. And the reversal comes by progressing upward through the TFs until your specified TF with the swing is reached. If the lower TFs FAIL to continue the upward progression, then the specified TF's swing simply cannot reverse, and you see that swing go into consolidation while the smaller TFs make another attempt at the reversal, starting again from the bottom. (Take a look at a TF that has an inside bar and mark the bar with start and end times. Then go look at the smaller TFs and see how price moves between that start and end time. Go all the way to M1--was there some simple retracement and then a small trend continuation, or do you see multiple cycles of up and down swings? When you look at all of the smaller TFs, do you find at least 1 where it is highly likely you could have made a profitable trade? Most likely, yes. So, while others were complaining about that higher TF going sideways, you were happily collecting pips on the smaller TFs that created that larger TF's sideways move.)

This is not rocket science. There is nothing complex about this. But some people try to turn it into complex when they see that there are many TFs to evaluate. But at any given moment, there is no need to check every TF, because you already know which ones to check based on the TF progressions.

This is why it is easy to trade on any TF and be able to trade both the trend continuations and the retracements using the same system. And this is why you can have "expectations" of a specific swing ending or not whereas most other traders are merely guessing that an end is near.
To free Gazans of Hamas, use whatever it takes.
  • #1,214,810
  • May 20, 2022 8:39am May 20, 2022 8:39am
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  • #1,214,811
  • May 20, 2022 9:13am May 20, 2022 9:13am
Quoting martin1977
Preparing another profit day, Entered a buy from 1.05799, TP @ 1.06059 Plan B Enter a BEAR from price 1.05504 TP @ 1.05424 Wish me luck!
I'm done with my PIPS, had a good PIPS in my bank.
CLOSED!
  • #1,214,812
  • May 20, 2022 9:37am May 20, 2022 9:37am
Quoting DrDave
{quote} Well, for me, there is no filtering out of "good trades", because the "good trades" are only on 1 specific TF at any given moment. Of course in HINDSIGHT, looking back at smaller TFs from the "correct" TF (where the trade is to be made), it OFTEN appears that you have entered too late and missed a lot of pips. This happens with trend continuation trading because when the retracement progresses through several TFs, and especially when you don't even have any kind of display of many of those TFs to be able to see how far the retracement progressed,...
well, yes you can still trade that way.
but just just a blade of grass in the meadow because there are countless options.
all it takes is perseverance to find it.
  • #1,214,813
  • May 20, 2022 9:45am May 20, 2022 9:45am
Quoting DrDave
{quote} Well, for me, there is no filtering out of "good trades", because the "good trades" are only on 1 specific TF at any given moment. Of course in HINDSIGHT, looking back at smaller TFs from the "correct" TF (where the trade is to be made), it OFTEN appears that you have entered too late and missed a lot of pips. This happens with trend continuation trading because when the retracement progresses through several TFs, and especially when you don't even have any kind of display of many of those TFs to be able to see how far the retracement progressed,...
So, for me to guess, more timeframes, more opportunities to make money.
Looking for profitable short term trades ...|
  • #1,214,814
  • May 20, 2022 9:52am May 20, 2022 9:52am
Everything do be slow. There don't be anything to trade.

Is it the summer lul or is it just because I am looking at four hour charts

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  • #1,214,815
  • May 20, 2022 9:54am May 20, 2022 9:54am
Quoting Js3mwtRc
{quote} Does it have 8H charts?
You can make any time frame you like with TradingView.

Question is, why would you want to?

What's interesting about an 8 hour chart rofl
  • #1,214,816
  • May 20, 2022 10:15am May 20, 2022 10:15am
Quoting JauntyLoon
{quote} You can make any time frame you like with TradingView. Question is, why would you want to? What's interesting about an 8 hour chart rofl
I have to find that out, good point. Volatility could grow sudenly at any time, just watch out!
Looking for profitable short term trades ...|
  • #1,214,817
  • May 20, 2022 10:26am May 20, 2022 10:26am
Quoting Js3mwtRc
{quote} So, for me to guess, more timeframes, more opportunities to make money.
AND just as important if not more so, more views to enable avoiding entering when 1 or 2 TFs higher are still in the retracement.

I've seen a lot of entries by a trader with purported 30 years of trading experience who routinely makes an entry and his position very quickly goes into significant drawdown because his "system" makes no account of the direction on the next higher 1 or 2 TFs that are in a swing against the entry. Then he makes MORE entries in the same direction, running even deeper into the red and goes into "hope&pray" mode, claiming to be "building positions", that price will reverse before his stop loss is hit for a huge loss.

Some people say that filtering out more losing trades is more important for trading success than filtering in more winning trades.
To free Gazans of Hamas, use whatever it takes.
  • #1,214,818
  • May 20, 2022 10:33am May 20, 2022 10:33am
Quoting JauntyLoon
Everything do be slow. There don't be anything to trade. Is it the summer lul or is it just because I am looking at four hour charts https://www.youtube.com/watch?v=hFWTcvodK9o
Mainly because you're looking at H4 charts. Check M15, M30, H1. If even M15 looks "slow" to you, then likely that despite swings occurring, the volatility will be too low for you to make net profits.
To free Gazans of Hamas, use whatever it takes.
  • #1,214,819
  • May 20, 2022 10:36am May 20, 2022 10:36am
Quoting JauntyLoon
{quote} You can make any time frame you like with TradingView. Question is, why would you want to? What's interesting about an 8 hour chart rofl
In ISOLATION, nothing is really interesting on a single TF. Cleary, "what's interesting about an H4 chart rofl".

It appears that the entire discussion of multiple TFs has escaped you.
To free Gazans of Hamas, use whatever it takes.
  • #1,214,820
  • May 20, 2022 10:39am May 20, 2022 10:39am
Quoting DrDave
{quote} AND just as important if not more so, more views to enable avoiding entering when 1 or 2 TFs higher are still in the retracement. I've seen a lot of entries by a trader with purported 30 years of trading experience who routinely makes an entry and his position very quickly goes into significant drawdown because his "system" makes no account of the direction on the next higher 1 or 2 TFs that are in a swing against the entry. Then he makes MORE entries in the same direction, running even deeper into the red and goes into "hope&pray" mode,...
Right. Patience and following the trend are the most importand traits of a succesfull trader. The drawdown is something none can avoid, but the lesser the best.

Also it is good to use methods that you haven't used yet already, so you can find more ways to make money.
Looking for profitable short term trades ...|
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