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Joined Jun 2008
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Status: Divergence Seeker
|1,749 Posts
Wah
Look out for 8 GMT, 14 GMT, 15 GMT see the trend in M 30 check all the indicators bull bear and stoc see how they are placed before 8 GMT and keep
your mouse ready in M 2 frame.
Look also where the candles are coming from high to low or low to high etc
There are so many trades i reported in this thread stating 8 GMT
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Joined Apr 2008
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Status: If you harken unto the voice of GOD
|253 Posts
The bull and bear indicators are very powerful in timing etnries. I watched its behaviour with price and I can see it is really powerful.
Please, one more thing though, how do you set the stoploss?
What do you also think about adding other pairs?
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Joined Jun 2008
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Status: Divergence Seeker
|1,749 Posts
Long Term Trade
Pair Any
Time Frame 2 Hours
HA
Bull and Bear Indicator
Stoc 20.3.3
EMA 21 High and Low
Questions and Answers
Why I should Use time frame 2 Hours Instead of the regular time frame
Time frame 2 clearley shows the trend as well as the proper view of London open till US close
When I should enter for Long term trade and what are the reversal signal for preparing the long trade
Stoc moving out from 20 The previouse 2 hour candle closed with stoc and signal with same number and sometimes the bull and bear number is also same The Last two hour candle has double bottom
When I should Exit from Long term Trade
When you see Two hour candle closed with stoc and signal number as equal or difference of one or double TOP
What I should do if I have missed the first move of going long
There is no need to panic
Look into the M 2 chart and enter for trade when you see good pull back
Short Trade will be the reverse of long:
Double Top is important for short trade
You have mentioned in the chart that if you see double top it is a
sign for going for short
yes I said
But When I go thorugh the chart I can see some double top on the way does that mean a reversal is coming
Yes You are seeing double top but if you notice the stoc line as well as the stoc and signal number there is big difference in the numbers, If you see the numbers coming close or equal you can think about reversal
What are the other areas I should take note of in Long term trade
Candles closed after 6 to 7 GMTwill be the period of strong moves
What are the steps I should take before the start of 8 gmt
Check where the stoc is placed
What was the Stoc and signal number of the previouse close and also the bull and bear number of previosue candle
Are the candles in good position of above EMA 21 High or below
What is the maximum draw down for long trade
The maximum drawn down could be 50 to 60 pip
What should be the lot size
Since it is a long term trade to start with you can use 1 or 2 % of capital and it can give the effect of 5 % if you place for short trade
Any other areas I should look into
yes since we are uisng HA candles watch out for clour change like half blue,half red this are additional signs for reversal
What are the other time frames I use
You can use M 2 for entry purposes
Should I use any form of pivot lines
yes You can use that also it gives you the view of support and resistence
you are talking about bull and bear number and stoc number , where I can see these numbers
Open the data window you can see all these numbers
Have you missed any other areas
Yes it is not advisable to take long term trade if the candles are betwen two EMA
But I am loosing so much of trading time
yes use that time for M 2 short trade
Anything more you have to say or add
yes I will report next week during the trading hours