DislikedTook this trade today. Can't see where I went wrong. Would appreciate some constructive criticism. {image}Ignored
Disliked{quote} You are trading with the wrong method when the market is strong trending. You should consider mehdi343' Method_1 https://www.forexfactory.com/thread/...ree-tdi-system Method 1 : At the beginning of the day, I will check all 28 pairs for possible entries based on the following rules: BUY: 1) Stochastic : Should be over 80 2) TDI : a) Green should cross above the red line or show a rebound b) prefer that cross or rebound happened above the yellow line. Sell: 1) Stochastic : Should be bellow 20 2) TDI : a) Green should cross bellow the red line or show a rebound b) prefer that cross or rebound happened bellow the yellow line. ... {image}Ignored
@oradba
Let's do another review as weekly roundup exercise.
GJ H1 Jun 12 to 16,
- Price Action HA candles Close above / below with 5EMA,Close,+2
- 5EMA,Close,+2 is for direction... if flat avoid trading until it shows direction, #261
- 5EMA,Close,+2 is above 50EMA and above 200EMA ... look for BUY only PA setups...#647 is simple form
- filter the PA setups reversals and bounce with Stoch %K / %D signal and direction,...#261
- filter the PA setups reversals and bounce with the TDI' RSI green price line slope which indicates its relative momentum compared to previous 2 to 5 bars/candles,
- pay attention to the longer term PA and market condition , in this case the H4 and Daily when taking a H1 trade setup.
- use MACD(2,13,7) as additional filter to pick clean trades, when MACD is above it zero level, pick only BUY setups.
- you can also use a default MACD(12,26,9) but you need to understand the convergence and divergence concept of the MACD, and know when the market is in a correction phase and its duration. Better to trade when the correction phase is over.
- however if you want to scalp the MACD correction phase, you can but be sure to use risk control in your money management strategy.
- there's a lot more to study and learn from your own experience here.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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