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Roadmap - A Way To Read Markets

GU +17. A quiet day today. Price at top of my H1 Trendlines and went in on the M5 for a short to the bottom Trendline
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GU +17 Pips countertrend on the M5 . Bounce off H1 Trendline back to the 200 SMA
Now going sideways deciding on direction
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Slow day today. Managed two trades, EU at BE, UC + 11. Entered on pullbacks.
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Yep slow day today. Got +17 Pips on Brent. Closed short when looked to be going sideways.
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Three trades so far EU +7, GU + 9 and UC + 9. All trades closed, when candles started closing on the other side of EMAs. I could close trades earlier for better profit, but that would not be according my plan.
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Edit: Another UC +7, no pic
Been a rubbish week guys with lots of losses but my robot under test has compensated for my rubbish manual trading so only $30 down on this demo account. Gonna revisit some thread posts again and try to see why this week has been bad for me when last week was over 7% up. Its been busy with my FT work and could be part reason for taking bad trades with a lack of proper concentration on the markets. They do say "taking no trades is also a strategy"
Good weekend guys.
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Quoting 40PipsAlan
Been a rubbish week guys with lots of losses but my robot under test has compensated for my rubbish manual trading so only $30 down on this demo account. Gonna revisit some thread posts again and try to see why this week has been bad for me when last week was over 7% up. Its been busy with my FT work and could be part reason for taking bad trades with a lack of proper concentration on the markets. They do say "taking no trades is also a strategy" Good weekend guys. {image}
Don't worry too much, as long, as you can learn from bad trades.

I had on the other hand good positive week. Also lots of things is coming together for me and I understand things better and better.
Dax chugging along down and up nice and steady for us traders. Note price is nearing previous High ( blue horizontal) so be alert to price action around it.
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every Saint has a past. Every Sinner has a Future
Quoting turnip15
Dax chugging along down and up nice and steady for us traders. Note price is nearing previous High ( blue horizontal) so be alert to price action around it. {image}
Price sniffed the Previous high and gave us a Roadmap short. I closed the short at ten am to finish my session stint.
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every Saint has a past. Every Sinner has a Future
Off to a better start this week. Got my 2% for the day.
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Quoting turnip15
{quote} Price sniffed the Previous high and gave us a Roadmap short. I closed the short at ten am to finish my session stint. {image}
hello turnip, still reading this beautiful thread (i'm only at page 80), beautiful cause you can really see the kindness brought by a woman, compared to so many threads here, driven by these countless "alpha" egoic males ("who has it bigger? Me, you. Ok, let's fight").
Said this, what made you go short, a part the yesterday high?
Rsi, channel, moving average, all was pointing bullish.
The first short entry, according to Laura, would have been much later.
Is it one of those risky kind of trades that Laura spoke about?
Quoting loppo0101
{quote} hello turnip, still reading this beautiful thread (i'm only at page 80), beautiful cause you can really see the kindness brought by a woman, compared to so many threads here, driven by these countless "alpha" egoic males ("who has it bigger? Me, you. Ok, let's fight"). Said this, what made you go short, a part the yesterday high? Rsi, channel, moving average, all was pointing bullish. The first short entry, according to Laura, would have been much later. Is it one of those risky kind of trades that Laura spoke about?
I don't understand your reasoning. Price breaks channel for short, h9ts 200ma ( decide to close and watch) -price breaks channel up. Price near yesterdays high and closes other side of channel and I close long and go short -close at 10am when I am done for the day.
every Saint has a past. Every Sinner has a Future
Quoting turnip15
{quote} I don't understand your reasoning. Price breaks channel for short, h9ts 200ma ( decide to close and watch) -price breaks channel up. Price near yesterdays high and closes other side of channel and I close long and go short -close at 10am when I am done for the day.
i mean that at 9.30 price and channel were above ma, so signaling a possible continuation of bullish trend, and rsi was above 55 as well.
From what i read so far Laura taught, for the conservative entries (channel break, and channel cross failure. edit), to enter only in according to rsi and where the channel is respect to the ma.
So i thought this entry you made is one of the risky trades Laura spoke about, cause beyond yesterday high, and price breaking channel down and up, i dont see other reasons to enter; price didn't even re-test the yesterday high, so there wasn't confirmation that it was acting now as resistence; we can add a break of trendiline yes, that happened at 9.26-27.
Hope it's more clear, thanks for the response!
Quoting loppo0101
{quote} i mean that at 9.30 price and channel were above ma, so signaling a possible continuation of bullish trend, and rsi was above 55 as well. From what i read so far Laura taught, for the conservative entries (channel break, and channel cross failure. edit), to enter only in according to rsi and where the channel is respect to the ma. So i thought this entry you made is one of the risky trades Laura spoke about, cause beyond yesterday high, and price breaking channel down and up, i dont see other reasons to enter; price didn't even re-test the...
Heres a couple charts of the Dax...One a CFD other the Futures chart.. I hope this sheds some light on Turnips short.. This is only my take in hindsight.
I do not trade the Dax but I do mostly trade the US indices and Oil. A chart is a chart is a chart they all operate with the same mechanics.

I pay particular attention to 4 things. OHLC The Opens Highs Lows and Closes... Whether its a single 1min candle or the Days Close or an Equity Open.
All are vital for a complete understanding of prices behaviour. Closing prices are very vital to be aware of in Indices Oil gold etc... Its the heart of the machine
so to speak... THink of a Line chart..What is it plotted on..Closing prices... THink of the Broader markets in general... All is based off the closing price.

Today the markets closed up 50pts...Today the markets closed down 50 pts. Every days change (end of day) is calculated off the closing price..

I am not inferring you dont know or understand this..I only point it out for all who dont know or understand in hopes that it helps.

SO heres a few charts...Pay attention to price and the 8ema channel when momentum is happening. How the candles open and close in relation to the channel.
Watch a 5min chart and the 8ema channel... When price is really cranking its a great way to ride a trade.. WIll post a chart or two of that..I may have earlier in this
thread as well not sure...

Ayways hope this helps with a different perspective..Its just my way of viewing the markets

Cheers
Kevin
First 2 charts Dax Futures last chart CFD

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The Best Loser Wins
Quoting bluesteele
{quote} Heres a couple charts of the Dax...One a CFD other the Futures chart.. I hope this sheds some light on Turnips short.. This is only my take in hindsight. I do not trade the Dax but I do mostly trade the US indices and Oil. A chart is a chart is a chart they all operate with the same mechanics. I pay particular attention to 4 things. OHLC The Opens Highs Lows and Closes... Whether its a single 1min candle or the Days Close or an Equity Open. All are vital for a complete understanding of prices behaviour. Closing prices are very vital to be...
interesting, thanks for the reply

in the second attempt to break yesterday closing price and high i see that all the m1 candles open and close above the channel, informing us i think that this time the trend is stronger and will break through those levels. I will study other charts, to see how much this pattern repeats.
Then again, like in the first attempt, when the trend is probably ending, 1m candle bearish closes outside-below the channel

now i'm very tired, but i will look at your post in more detail tomorrow, i appreciate your help, the focus on OHLC is something i should probably watch more closely
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Grabbed +10 on GU and closed at the top of the swing. Hopefully get another bite of this one in a bit.
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Two trades today, both GU, first one +10, retracement from daily high, daily open and SMA200, closed early, second trade + 40, similar trade, red news helped to positive slippage.
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Makes one rather cross albeit amusing at the same time.
I had not traded this morning due to domestic chores plus a dog that thinks I only exist to throw a ball down the hallway for her
I had logged in to my Spanish lesson ( Duolingo) https://www.duolingo.com

Anyway, I thought I would make a quick demo entry on Dax and left it for a while. Price was coming off the 200ma and making Higher Highs and breaking out. Set a stop below where red dotted line is. Carried on with Spanish lesson and peeped at price later - it went well for a long.
Oh well - nice to know it went well. No trading this afternoon either since I have to do some shopping with the wife.
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every Saint has a past. Every Sinner has a Future
Quoting turnip15
Makes one rather cross albeit amusing at the same time. I had not traded this morning due to domestic chores plus a dog that thinks I only exist to throw a ball down the hallway for her I had logged in to my Spanish lesson ( Duolingo) https://www.duolingo.com Anyway, I thought I would make a quick demo entry on Dax and left it for a while. Price was coming off the 200ma and making Higher Highs and breaking out. Set a stop below where red dotted line is. Carried on with Spanish lesson and peeped at price...
Hola T !
DuoLingo ! Thats how I started my Spanish lessons..It actually works very well...I have been very lax on it for several years now tho.. But cant say enough good about it,, I really should get on it again.. Road Map~Mapa Vial...Sounds much more sophisticated

The Best Loser Wins
Nice little +45 Pips on UJ after that dollar news. Closed before ADR high. 2% done for the day.
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