My observations on your charts are as follows:
See the CCI170 and the trend...although it's red (negative) it is trending up, so you are in fact trading against the trend. Price has made a turn and is struggling a bit with direction. Also, the HA candles...you took the first red HA candle...if you trade like this and jump on the very first HA candle you will get whipped a lot. Did you consider M5...it appears not. If you wait for CCI170 to be lower than -100 and trending down instead of up...you will have a better chance to catch a winner.
I also attach another chart with a faster trading version of fxprime...it's telling another story altogether. No trades there that I would have taken except for the sell at the beginning of the second chart and that was after a very nice short and you really are geting in there at the bottom of the trade...not ideal.
Those 2 charts are from the timeframe you were looking at. The next 2 are current so you can't necessarily relate the 4 charts.
A peek at a higher timeframe...M5 or M15 might have helped you to see the price action and that's important. I attach that chart also. Easy to forget about what the price is doing...you really should be looking at that also.
By the way....it does look weak when you look at H1 and H4 and that should help with your trade analysis. If you are buying in a downtrend on a higher timeframe...you stops and targets should be tight. If you are selling on M1 when weaker in a highertimeframe....there is a greater chance you might catch a runner.
I also H1 also for reference...it looks down to me. So while M1 can range a bit which is what you got stuck in...if you peak at higher timeframes and just look at price to see what is happening, you will begin to understand what to do.
Cheers
CanuckCT
See the CCI170 and the trend...although it's red (negative) it is trending up, so you are in fact trading against the trend. Price has made a turn and is struggling a bit with direction. Also, the HA candles...you took the first red HA candle...if you trade like this and jump on the very first HA candle you will get whipped a lot. Did you consider M5...it appears not. If you wait for CCI170 to be lower than -100 and trending down instead of up...you will have a better chance to catch a winner.
I also attach another chart with a faster trading version of fxprime...it's telling another story altogether. No trades there that I would have taken except for the sell at the beginning of the second chart and that was after a very nice short and you really are geting in there at the bottom of the trade...not ideal.
Those 2 charts are from the timeframe you were looking at. The next 2 are current so you can't necessarily relate the 4 charts.
A peek at a higher timeframe...M5 or M15 might have helped you to see the price action and that's important. I attach that chart also. Easy to forget about what the price is doing...you really should be looking at that also.
By the way....it does look weak when you look at H1 and H4 and that should help with your trade analysis. If you are buying in a downtrend on a higher timeframe...you stops and targets should be tight. If you are selling on M1 when weaker in a highertimeframe....there is a greater chance you might catch a runner.
I also H1 also for reference...it looks down to me. So while M1 can range a bit which is what you got stuck in...if you peak at higher timeframes and just look at price to see what is happening, you will begin to understand what to do.
Cheers
CanuckCT
DislikedJust tried this live for the first time this morning and getting consistently out of trades.
Can anyone help me on where I am going wrong? The lines on Green are filed trades I have taken.
Thanks
JasonIgnored
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