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  • #1,214,841
  • May 20, 2022 3:19pm May 20, 2022 3:19pm
Quoting DrDave
{quote} If, the one minute chart just doesn't fit on the lifestyle of a trader it doesn't mean that it is useless. Of course your thinking is correct. But I find people posting over and over again about how it is pointless to even look at any TF below H1 because they have nothing but whipsaws, fakeouts, and noise. I also see posts by people that claim "missing" TFs, such as H2 and H8, are also worthless because they are not part of the default TFs in the charting application. LOL And let's not even start discussing TFs like M8, M16, M32, etc.--PURE...

There's an element of truth to it though. The reason a daily closing beneath/below a certain level or MA is significant is because enough people believe it is significant (self-fulfilling).

If lots of institutional traders are using M1 or H1 then those are more worth more attention than M2 or H2.
  • #1,214,842
  • May 20, 2022 4:06pm May 20, 2022 4:06pm
Quoting DrDave
{quote} its crazy to start buying EU yet. That is, once again, TIME FRAME dependent. Yes, it would be crazy to start buying EU based on the W1 TF. However, look at H1. A buy that was filled at the High of the bar marked with the green V-line for an up continuation would have been profitable with 21 pips of drawdown occurring on the next bar. That was the only bar in the run that closed in drawdown. If you managed to stay in until the marked bar, that was 86 pips at the low of that bar. Even exiting on the earlier down bar was good for 70 pips. With...

I started looking at all different timeframes and just lost my mind. Couldn't make head or tail of anything - EUR/USD looked like a short on 30 minutes and a long on hourly.

I did sell US30 based on 30mins and 1min today but only because the trend looked strong - indicators were all over the place.
  • #1,214,843
  • May 20, 2022 4:31pm May 20, 2022 4:31pm
Quoting JauntyLoon
{quote} I started looking at all different timeframes and just lost my mind. Couldn't make head or tail of anything - EUR/USD looked like a short on 30 minutes and a long on hourly. I did sell US30 based on 30mins and 1min today but only because the trend looked strong - indicators were all over the place.
So , you didn't pay attention my post. . . . . . . . . . . . . . . . . . . .

  • #1,214,844
  • May 21, 2022 3:21am May 21, 2022 3:21am
EURUSD Daily bar closed below 0642 and the grey trendline. Above the last two spots Monthly pivot and 20 ma bollinger high may delay any upside momentum from bearish traders who would like to sell.

Then at around 0800 50 Daily MA is a strong point to watch for a reverse, but will price reach that far? I don't know, I note it on the chart just for a point of reference to watch.

Support is at the three days low bearish bar above 0450 and if, it doesn't offer any stability to the bulls then a break will bring price around the next level - second blue arrow at the bottom of the chart around 0400.

All these of-course without many other details which happened and waiting to happen (who knows what will) and just by simple analysing swing tops and bottoms, the price may pass by any level and MA without respect, how much you will risk here is the key.

This chart for me is the most bearish yet with some upside consolidation.

Attached Image (click to enlarge)
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Looking for profitable short term trades ...|
  • #1,214,845
  • May 21, 2022 3:35am May 21, 2022 3:35am
Quoting DrDave
{quote} If, the one minute chart just doesn't fit on the lifestyle of a trader it doesn't mean that it is useless. Of course your thinking is correct. But I find people posting over and over again about how it is pointless to even look at any TF below H1 because they have nothing but whipsaws, fakeouts, and noise. I also see posts by people that claim "missing" TFs, such as H2 and H8, are also worthless because they are not part of the default TFs in the charting application. LOL And let's not even start discussing TFs like M8, M16, M32, etc.--PURE...
You are right here. Just because we ignore something because we can't, doesn't mean we must not respect it. And I am not behind the screen of every trader to know what I should watch, but I have full awareness that any other system, or timeframe can change my trade to a negative one. Peace here.

Everything thats on the chart, or not has its own value and by knowing it you can beat that market.

New traders must respect and take advices from the older and more experienced and then collaborate in a good way that may bring more information to that forum for the good of the profession, hobby, or any other way we see forex.
Looking for profitable short term trades ...|
  • #1,214,846
  • May 21, 2022 3:36am May 21, 2022 3:36am
Quoting Js3mwtRc
EURUSD Daily bar closed below 0642 and the grey trendline. Above the last two spots Monthly pivot and 20 ma bollinger high may delay any upside momentum from bearish traders who would like to sell. Then at around 0800 50 Daily MA is a strong point to watch for a reverse, but will price reach that far? I don't know, I note it on the chart just for a point of reference to watch. Support is at the three days low bearish bar above 0450 and if, it doesn't offer any stability to the bulls then a break will bring price around the next level - second blue...
based on the diagram.
we have a trend channel.
this chart is great but it doesn't show what to do now.
buy sell?
  • #1,214,847
  • May 21, 2022 3:40am May 21, 2022 3:40am
Quoting tiborf71
{quote} based on the diagram. we have a trend channel. this chart is great but it doesn't show what to do now. buy sell?
I prefer selling because the market fundamentals - war in Ukraine, market difference in Interest Rates between EUR and USD and I look at weekly for direction which is down.
Looking for profitable short term trades ...|
  • #1,214,848
  • May 21, 2022 3:50am May 21, 2022 3:50am
Quoting Js3mwtRc
{quote} I prefer selling because the market fundamentals - war in Ukraine, market difference in Interest Rates between EUR and USD and I look at weekly for direction which is down.
I see this emerging wedge shape.
maybe it goes down and from there it can be a bull correction.
this would mean following the trend channel.
  • #1,214,849
  • May 21, 2022 11:12am May 21, 2022 11:12am
Quoting JauntyLoon
{quote} I started looking at all different timeframes and just lost my mind. Couldn't make head or tail of anything - EUR/USD looked like a short on 30 minutes and a long on hourly. I did sell US30 based on 30mins and 1min today but only because the trend looked strong - indicators were all over the place.
I started looking at all different timeframes and just lost my mind.
Most likely because you have not applied any systematic method for comparing the various TFs.

EUR/USD looked like a short on 30 minutes and a long on hourly.
And that is exactly the point when I repeat "It is time frame dependent." If you examine SEVERAL TFs, then you can understand which one is indicating trade direction and which one(s) are showing retracements.
To free Gazans of Hamas, use whatever it takes.
  • #1,214,850
  • May 21, 2022 11:23am May 21, 2022 11:23am
Quoting JauntyLoon
{quote} I started looking at all different timeframes and just lost my mind. Couldn't make head or tail of anything - EUR/USD looked like a short on 30 minutes and a long on hourly. I did sell US30 based on 30mins and 1min today but only because the trend looked strong - indicators were all over the place.
EUR/USD looked like a short on 30 minutes and a long on hourly.

Please post an image of that with the area marked. I am curious to see how you could see such a condition, especially on TFs only 2X apart.
To free Gazans of Hamas, use whatever it takes.
  • #1,214,851
  • May 21, 2022 11:44am May 21, 2022 11:44am
eur / gbp.
According to Gann's analysis, this pair will have to rise the
next week.0,85000.
H1 scalp.
  • #1,214,852
  • May 21, 2022 12:04pm May 21, 2022 12:04pm
eur / usd.
through analysis.
according to Gann's analysis, will rise.
next week. 1,05930.
H1 scalp.
  • #1,214,853
  • May 21, 2022 12:30pm May 21, 2022 12:30pm
Quoting PatienceFx
{image}
and now what to do?
buy / sell?
  • #1,214,854
  • May 21, 2022 10:51pm May 21, 2022 10:51pm
Quoting tiborf71
{quote} and now what to do? buy / sell?
will you buy ? that answers the question
  • #1,214,855
  • May 21, 2022 10:58pm May 21, 2022 10:58pm
the risk in selling is moderately higher at the moment
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  • #1,214,856
  • May 21, 2022 11:29pm May 21, 2022 11:29pm
comparing usd with the weakest currency jpy because jpy is heavily dependent on price of oil
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  • #1,214,857
  • May 22, 2022 12:16am May 22, 2022 12:16am
Quoting JauntyLoon
{quote} All indicators perform well during strongly trending markets. I'm looking for one that also does well when the trend is indecisive. Not found any yet
If you want to understand what direction the trend is going, you must learn how to read price action.

This will help you immensely.
  • #1,214,858
  • May 22, 2022 12:20am May 22, 2022 12:20am
Quoting JauntyLoon
{quote} I started looking at all different timeframes and just lost my mind. Couldn't make head or tail of anything - EUR/USD looked like a short on 30 minutes and a long on hourly. I did sell US30 based on 30mins and 1min today but only because the trend looked strong - indicators were all over the place.
When in doubt zoom out... The higher time frames should be used for directional bias and the lower time frames should be used for execution zones.
  • #1,214,859
  • May 22, 2022 12:30am May 22, 2022 12:30am
I will be a seller until the price reaches the green zone!
Attached Image (click to enlarge)
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  • #1,214,860
  • May 22, 2022 10:05am May 22, 2022 10:05am
Quoting DrDave
{quote} I started looking at all different timeframes and just lost my mind. Most likely because you have not applied any systematic method for comparing the various TFs. EUR/USD looked like a short on 30 minutes and a long on hourly. And that is exactly the point when I repeat "It is time frame dependent." If you examine SEVERAL TFs, then you can understand which one is indicating trade direction and which one(s) are showing retracements.

The method I 'learned' was to find trade direction at HIGHER TF and trade in that direction at lower TF in order to increase probability of being right.

But to be honest, we can argue all day about this - without any kind of hard statistical analysis it is impossible to say who is right.

I don't have enough programming knowledge to turn my trading decisions into hard-definition algorithms and backtest thousands of times at different time frames on different markets.

This is a real problem.
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