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  • Post #2,461
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  • Aug 4, 2022 2:19pm Aug 4, 2022 2:19pm
  •  Ihlas
  • Joined Nov 2020 | Status: Member | 1,998 Posts
Quoting GEfx
Disliked
{quote} Hi Ihlas. The month ends on the last day of the month (for accounting and regulatory reasons, to name a few). There are activities that occur at month end that can impact trading and PA. The week begins when the market opens for trade at the beginning of the week. The weekly trading plan will include month-end activities, if the month ends during the week (month-end activities actually begin well ahead of the last day of the month so they can soft close the monthly books on day zero and hard close on day 1 of month-end processing), and activities...
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Thanks GEfx
 
 
  • Post #2,462
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  • Edited Aug 5, 2022 12:22am Aug 4, 2022 9:11pm | Edited Aug 5, 2022 12:22am
  •  whitesta
  • | Joined Aug 2018 | Status: Member | 115 Posts
Quoting moodybot
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{quote} DT = Double Top
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Hi Jaddy,

DT means "Double Top". As explained by Bluesteele that its not always good to take trades off a wick, i was just looking for further confirmation to open a trade. Mostly at session open, price "MAY" come back either up or down to take the stops before going in the intended direction as the case was for my trade. Also once price came back up it formed PFH and Double Top. 2 more confirmations with the RN and another long upper wick. Gives us the chance to have a smaller Stop Loss just incase price decides something else. I have been noting down what Bluesteele mentioned about Equity opens, London and US open plus daily open. I wanted to set profit at Daily Open but was cautious and took at the first Target. Hope that helps as i am stilll learning from the traders like, Bluesteele, Moodybot, Timetells and others.

Happy Trading All
 
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  • Post #2,463
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  • Aug 4, 2022 11:36pm Aug 4, 2022 11:36pm
  •  KevinZeng
  • | Joined Jan 2020 | Status: Member | 165 Posts
Quoting bluesteele
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Just a short post and follow up chart to Whitesta's...The question from Jaddy re the other candle.. Valid entry trading the wick. You never know for sure if the market will reverse off of one wick or not...So getting an entry on the wick with a tightish stop or waiting for a confirmation candle to follow..Choices we all have. The second entry that Whitesta took was a higher probability trade in my opinion. Note how price travels back to the Equity candles open..same in US session. Cheers Blue {image}
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HI Kevin,
Can you explain what is Equity candles?
 
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  • Post #2,464
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  • Aug 4, 2022 11:59pm Aug 4, 2022 11:59pm
  •  bluesteele
  • Joined Aug 2007 | Status: Member | 1,387 Posts | Invisible
Quoting KevinZeng
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{quote} HI Kevin, Can you explain what is Equity candles?
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Hi Kevin Just simply the 5 minute candle at LSE open and NYSE open 10:00 & 16:30 respectively on the MT4 charts.
Or the 1 or 15 etc... Or in other words it a reference to the candle open at that specific time

Hope that clarifies..

Cheers !
The Best Loser Wins
 
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  • Post #2,465
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  • Aug 5, 2022 1:37am Aug 5, 2022 1:37am
  •  bluesteele
  • Joined Aug 2007 | Status: Member | 1,387 Posts | Invisible
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  • Post #2,466
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  • Aug 5, 2022 5:17am Aug 5, 2022 5:17am
  •  whitesta
  • | Joined Aug 2018 | Status: Member | 115 Posts
Another trade similar to yesterdays. PFH, RN nearby, Weekly and monthly opens rejected. Just some confirmations. A little late entry cos i was waiting to see how price would react to the RN (162). It was smashed with momentum. Again profit could have been at daily open but i took it at previous week low.

Trade well all.
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  • Post #2,467
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  • Aug 5, 2022 10:15am Aug 5, 2022 10:15am
  •  bluesteele
  • Joined Aug 2007 | Status: Member | 1,387 Posts | Invisible
Quoting whitesta
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Another trade similar to yesterdays. PFH, RN nearby, Weekly and monthly opens rejected. Just some confirmations. A little late entry cos i was waiting to see how price would react to the RN (162). It was smashed with momentum. Again profit could have been at daily open but i took it at previous week low. Trade well all. {image}
Ignored
Well done Whitesta!!!

Confluences all lined up.. another great trade and great example on how to do it Your seeing things clearly just keep repeating !

Cheers
Blue
The Best Loser Wins
 
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  • Post #2,468
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  • Aug 6, 2022 11:43pm Aug 6, 2022 11:43pm
  •  bluesteele
  • Joined Aug 2007 | Status: Member | 1,387 Posts | Invisible
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  • Post #2,469
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  • Aug 7, 2022 6:36pm Aug 7, 2022 6:36pm
  •  bluesteele
  • Joined Aug 2007 | Status: Member | 1,387 Posts | Invisible
Real or Algo....
Random or Non Random

The truth is it doesnt really matter either way... All that matters is you and your methodology.. It either works consistenly and profitably or it doesnt.

All the best to everyone and hope the markets are favorable to you....

Blue

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  • Post #2,470
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  • Aug 8, 2022 1:04am Aug 8, 2022 1:04am
  •  rosone
  • | Joined Jun 2020 | Status: Member | 38 Posts
What is PFH in the last charts ?
Thanj you and regards
 
 
  • Post #2,471
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  • Aug 8, 2022 1:34am Aug 8, 2022 1:34am
  •  handy148
  • Joined Oct 2010 | Status: Member | 2,527 Posts
Peak Formation High
 
 
  • Post #2,472
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  • Last Post: Aug 10, 2022 2:03am Aug 10, 2022 2:03am
  •  venkatredy
  • | Joined Sep 2015 | Status: Member | 90 Posts
Good Afternoon Timetell/Pete
Is my understanding is correct for this
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