[quote=asyi;1796418]
Asyi,
Thankyou for the reminders of trading with the trend and staying with the majors, which I can easily stay on top of. The work comes in on my making of
plans and staying disciplined.
I guess I started with what is easiest first and that being the larger time frame for me was easier to Identify as it unfolds. With that I'm trying to execute what were learning, take advantage of a weekness, start with small troops as we gain knowledge of the ground and what the enemys doing we add more troops.
Example being 213.80 area is easily Identified as a important level (which I consider a weakness exposed) so we new to get into our 5 min.time frame chart on this afternoon when price was there about 2:00 edt.
That 5 min. took us all the way to 215.00 and there we placed another 5 min. chart. which takes us to 214.30 area where we are now. And we have another 5 min. chart up waiting for the direction of the markets next step.
The 5 min. chart took us to 212.17.
I don't know if this was dumb luck mixed with the perfect conditions using the 5 min. chart but I will find out soon enough.
The aususd, gbpusd and usdjpy I am is also with a similar situation with the 4 hour.
Thanks for the help and bear with me I have a lot to learn.
DislikedFti ,
In trying to understand our method please correct me with the direction I should be going.
We have had several pair ranging this week lets take for example the gbpjpy.
Jan. 3rd
I sent a couple of spys and taken the ground from these points.
S -216.80 to L-213.80
Jan. 4th
gaining knowledge of the grounds an increase of number of men were placed at 216.80 and 213.80 area.
Now to set up the dance floor I used 215.45 what I think is price equallibrium
215.45 to devide the floor in half to give me a guide to dance to and from.
Can I get some instruction on maybe the ideal dance or different types of dances that I could anticipate ?
Looking at the G/J is see major resistance at the 215.00 area. But this pair is very vollitile. You need to look at the different TF. Each TF is a dance unto itself. The only signal I could see (with no indicators) came at 17:25 on a 5 min TF. That was good for 50 pips, but at 215.00 it has hit major resistance. But 50 pips may not have been your plan. To execute your plan to make, say 100 pips you would have to find a different dance floor. Maybe a 1hr. TF, which may be the next one to follow. If your plan is 300 pips then that dance is taking place on the 4 hr floor. But look at the trend. You wouldn't want to dance against your partner, would you? You need a thought out plan of offence and defense. Failure to follow your own rules makes hearing the orchestra a little harder next time. Take a good look at the daily TF on this pair and then trade something else. Just my opinion. ASYIIgnored
Thankyou for the reminders of trading with the trend and staying with the majors, which I can easily stay on top of. The work comes in on my making of
plans and staying disciplined.
I guess I started with what is easiest first and that being the larger time frame for me was easier to Identify as it unfolds. With that I'm trying to execute what were learning, take advantage of a weekness, start with small troops as we gain knowledge of the ground and what the enemys doing we add more troops.
Example being 213.80 area is easily Identified as a important level (which I consider a weakness exposed) so we new to get into our 5 min.time frame chart on this afternoon when price was there about 2:00 edt.
That 5 min. took us all the way to 215.00 and there we placed another 5 min. chart. which takes us to 214.30 area where we are now. And we have another 5 min. chart up waiting for the direction of the markets next step.
The 5 min. chart took us to 212.17.
I don't know if this was dumb luck mixed with the perfect conditions using the 5 min. chart but I will find out soon enough.
The aususd, gbpusd and usdjpy I am is also with a similar situation with the 4 hour.
Thanks for the help and bear with me I have a lot to learn.