more analysis at my blog...suggest that you guys get in to that blog regularly for updates...
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Dislikedso karthik, was the breach of 148.48 something that you were looking to trade?Ignored
DislikedHi Karthik,
I'm watching GJ on M15 and M5.
If I have the H1 MM lines on the chart, it's not obvious why the price just retreated from 148.64
If I set MMPeriod to zero, the MM line at 5/8 shows me exactly why.
I believe you trade M15 and M5 with the H1 MM lines on those charts..... or did I mis-understand?
Thanks.
GIgnored
DislikedGrath,
thats right, i trade ionly the 1H MM lines using the 5M and 15M charts...of course, if u go into smaller TFs you will get many more resistance lines...in fact, if u go into 5M charts, u will get a MM line every 10-15 pips....these resistance lines in smaller TFs are very weak as compared to the ones in higher TFs...if u are looking for for 2-3 pips per trade, then maybe u could look at MM lines in 5M charts...if u r looking for 30-40 pips minimum per trade, as i do, its better u trade 1H charts...Ignored
DislikedKarthik, so you expect a stall here, or at the stronger 6/8 resistance?Ignored
Dislikedgj broke 148.48. The break was really quick. Karthik, do you wait for 2 or 3 5 min bars to close above/below resistance?Ignored
DislikedBrilliant! - both the strategy and the explanation.
I came out of my long when the price retreated from the M5 5/8. Just look at it now. It's been up to say hello to the 6/8 (which is the H1 5/8 just as you say).
I should have just listened to you in the first place.
GIgnored
Dislikedi would be careful abt shorts now....it is franfurt time and they usually do the opposite of what the trend is...so i would rather wait for some direction before i go for shorts...Ignored
DislikedKarthik,
GJ- Would you consider the candle as having broken the 148.05 support?Ignored