DislikedI might have a long signal... Trend is upIgnored
DislikedSeems that cable failed to break this high support level. Hmm., back up?Ignored
Dislikedjust wait for break UTL and LTL,i think my S&R is valid .how about you guys
edit=false break out
"Together More Better Than Alone "Ignored
Dislikedusd/chf along with e/u love to do fake peaks. I have this lines on 4h;Ignored
Any clues why the candles on my chart look so different than yours?
Which broker do you use? I may think that I am not getting the same info. as you are...
Have a lookIgnored
DislikedYou will suffer from more fake breakouts on lower TF compared with higher, thats my experience. The reason I have played 1h and even lower is because of my confidence with different price patterns. This confidence didn't occur within weeks. Only practice, practice and experience will give it.
No good answer from me but a hint that combining i.e 4h and daily chart searching for pattern is a good start. If your used to trade on lower TF simply reduce your units seize and try trade on larger TF.
When you have traded some different price patterns over at least 6-12 months you will start notice that each pattern normally give 2 options with close to identical happenings. I'm not sure if I talk too misleading but hope you got a clue. History repeats itself, same does price patterns.Ignored
Dislikedjus wait to break S & R ,the S & R with colour aqua is target for breakout get from TL H4.i prefer buy than sell coz candle h4 make tail from bottom to the topIgnored
DislikedI have seen several fake break outs. Like Aediaz said, always have a look at higher TFs just like you are doing.
Allow me to say that I look into other TFs and all but actually trade from the 4H TF. I believe it has sufficient gathered (consolidated) DATA in it, and therefore in each candle, in order to satisfy my needs for a valid break.
My strategy is the following:
1) Draw most recent valid demand(support) and supply (resistance) lines. Bill Williams fractals is a goos indicator for the right candles where S/R should be drawn. So I pick the most recent ones.
2) Looking at the 4h TF make a price projection for the break either for demand (support) or resistance (support).
3) A valid break is whenever a 4H candle opens outside the TDs (either support or resistance).
4) Set your TP at the projected price target counting from the opening of the "break" candle or some other resistance or support lines (pivots, fibos, etc.) that might be in between the break and the price target.
I prefer to have channels with both demand and supply lines. Like this, I can be ready for breaks either way and make price projections either way.
Attched follows one example of what I am saying.
I hope this makes sense to you guys.