Dislikedits free just down load and log on its a chat room that charts can be shown as well as audioIgnored
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Linux Mint and MT4 5 replies
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Dislikedits free just down load and log on its a chat room that charts can be shown as well as audioIgnored
Dislikedi never had the courage to trade long term maybe one day went i started trading full time 7 yrs ago i had a goal to make a living at this the first year was hard till i stumbled on to this. i tried tweaking this with fib,pivots,elliot waves, 123"s not the way you mentioned and other ways including no indicators but at the end of the day trading with the trend from the daily chart is in my opinion the key to the mint. that why when we go through these times of consolidation i know how tempting it is to put on countertrends and other stuff so we can be in a trade, we all like the action but i love the money more and thats true money management which is the true key to the mintIgnored
Dislikedthunderwolf, just a quick question. how do you get the great little 1-2-3 patterns on your charts? I also use meta trader charts. thanks beforehand. BobIgnored
DislikedHi,
I just downloaded tradingroom but there is few devisions and lots of rooms.I culdn't find anything with Mint.
Would you tell me under what subdevision you are and what is the name of room please?
Thanks
MikeIgnored
Dislikedtechnically there was no clean setups today the gbpusd waved up and down within the movelate yesterday it did break the high but the market didnt give us an entry today hopefully everyone is seeing how the market works hh and hLand LL and Lh = trendsIgnored
QuoteDislikedHi Naijafx,
The charts I posted are what I understand from Harold's explanation, so he would be the expert to confirm all your questions. Anyway here's what I am doing.
1. Confirm trend direction on daily chart with EMA's & RSI 13
2. Trade on 15M chart only in direction of Daily Chart Trend
3. Look for 123 patterns.
A. In a down trend#1 is Swing High#2 is Swing Low #3 Retracement
B. Uptrend #1 is Swing Low#2 is Swing High #3 is Retracement
4. Trade on the break of the # 2 point of pattern after #3 Retracement
Point is established only if price is in agreement with the indicators.
5. Confirmation for trade: Down trend- A. 5 is below 8 EMA B. RSI is below 50 C. Stochastic is crossed & pointing downward D. CCI is below 0
6. If the indicators are in agreement you enter trade on the close of the candle that broke past the #2 point.
On the first chart, I showed 4 possible entries on Monday for Gbp/Jpy. Each 123 pattern is a different color to see them more clearly. You'll see colored check marks matching the color of the 123 pattern. The candle above each check mark is the candle that broke the #2 point of each 123 pattern. After the close of that candle I entered the trade { the vertical dotted line that matches the color of that particular 123 pattern. So as not to over clutter the chart, I only showed the fib expansion targets on the last [ Aqua Blue ]
123 pattern.
The second chart I attached shows what Harold refferred to earlier, the last swing high on Friday to a major swing low on Monday. This shows a fib retracement in blue. Target 1 is 138.2 Retrace and Target 2 is 161.8 Retrace
Pretty cool how price went right to the 161.8% retracement!
Sorry for this long post but I hope you understand my explanation...T-Wolf Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1205194829 http://www.forexfactory.com/attachme...1&d=1205194829
DislikedTW,
How about determing sl and take profit with this method?
Thanks for your timeIgnored
Dislikedtechnically there was no clean setups today the gbpusd waved up and down within the movelate yesterday it did break the high but the market didnt give us an entry today hopefully everyone is seeing how the market works hh and hLand LL and Lh = trendsIgnored
DislikedTW,
How about determing sl and take profit with this method?
Thanks for your timeIgnored