Cable Update (GBPUSD)
Ha! That put a smile on my face. Here is the 1h you speak of. You know how it works. The less volatility there is, over an extended period of time, means a bigger and more ferocious breakout. People place limit orders on the other side of support and resistance levels. The longer the price just trickles along, the more of these limit orders will be placed at these support and resistance levels.
I found 62 ema also works very nice on the 5 min chart. magic number. is there any explaination for 62? why is it 62 and not some other number
It's wise to use a selection of different time frames. If you trade the daily candles, you can then move down to the 4 hour, then 1 hour, then 30m, then 15 min to establish a good entry point.
If you trade 15 minute candles, you should look at the bigger time frames to establish an understanding on where the trend is heading. Only looking at the smaller time frames can create a tunnel vision, when what you need to do is zoom out a bit and get a good focus.
Therefore: whatever your trading strategy is, use the different time frames to your advantage:...
I found 62 ema also works very nice on the 5 min chart. magic number. is there any explaination for 62? why is it 62 and not some other number
I found 62 ema also works very nice on the 5 min chart. magic number. is there any explaination for 62? why is it 62 and not some other number
It is probably a self fulfilling prophecy. The more people who trade using the 62ema, the more buying and selling will be done according to that indicators rules.
so it should go up now 
my SL was hit
lol. If you were the King, then maybe....
