M5/M1 trade ,alittle risky
Disliked1. went long after bullish engulfing bar TP=15p. reason...price was making higher highs and higher lows respecting 10EMA (is that bullish engulfing a valid "power bar"???)
2. I didnt enter at the pinbar, I saw a series of higher lows but we were to close to round number 1.2800 and chickend out. For the 2nd arrow I wanted to ask you (Golfer) how is it that you would have entered, you mentioned in your post "3 higher lows", how does that work? do they also have to be above 21EMA, could you elaborate on that please.Ignored
DislikedI have bad MM.Ignored
Forgive me if I am out of line here....as I have not read to much on the newer version of this method...
But with all the looking at bars and other indicators...I am not sure if a very simple method has moved to a method where people are getting confused as to when to pull the trigger and get in...
The previous post is a good example of what I mean....the 50ma was looking good...the shorter ma's turned down a little and then turned again to the trade direction...this should have been a good enough time to enter....
But there was...Ignored
DislikedSorry, that has not commented.
I had 3 reasons for an enter.
1 - the rhythm of the market on Н4. It has told to me that there will be a movement.
2 - ascending roundish resistance on 21.
3 - last candle in a zone is power.
Three higher lows did not saw. I thought, that they should be from ascending power candles. On my chart it should be green.Ignored
DislikedI looked for patterns "3 higher lows" and "3 lower highs" for this year on EURUSD and here my conclusions.
"3 higher lows" are very good pattern, from those that I have found there was one false (it is possible was closed in break-even). Almost all came to an end strong candles. After a pattern was strong movement.
"3lower highs" had 30 % false. If to clean charts where a pattern does not come to an end good bear candles the result becomes better.
Golfer look at my charts, please. Do I have correctly defined this pattern?
Sorry but I cannot open your zipped file. I do get the message that the folder is "invalid or corrupted". I know sometimes lots of people do get the message when they try to open zipped files while other do have no problem opening the file.
So I cannot comment.Ignored
DislikedSave into 2 files PDF.Ignored
DislikedYes, perfect. That is the price pattern that I am using.
Once again - just remember that the 3 lower high/higher low should also not be used as a stand alone signal, just like the pinbar signal.Ignored