- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
Many choose unhappiness over uncertainty.
Moar Central Banker Speeches are Better 0 replies
Myth Buster: 90-95% of traders cannot survive in trading 32 replies
M5 Trend Buster 26 replies
DislikedBecause the box is formed at the close of the first 4H candle by adding 50 pips to the close price to form the box high, and subtracting 50 pips from the close price to form the box low.
Hope that answers the question.Ignored
DislikedJust to compair charts and brokers , i had to break my chart down to 1-hr bars to find the high and low using ibfx platform . This is for those not using the fdxx platform , then had to change my chart back to 4-hr bars , there is some differance in the locations of the ma's , it's around 15 -20 pips short of Pharoah posting for the trade peramaters of the start ofthe week...hopes this helps ...... purple lines are the box........ buffalopip...Ignored
DislikedThey sure are different ... just wanted to post so others could see the difference as it is happening in real time .....Ignored
DislikedPharoah,
I have different data from my broker. My broker is GMT+0.
Question: My first 4h candle of the week starts at 21:00(Is this correct candle?). I'm was up +50 pips!Ignored
DislikedPharoah,
I have different data from my broker. My broker is GMT+0.
Question: My first 4h candle of the week starts at 21:00(Is this correct candle?). I'm was up +50 pips!Ignored
DislikedWell we are out at 143.60, so next we go short 143.10 or long 144.10, right?Ignored
DislikedThat was totally my bad, it was supposed to be 142.6, but believe me, it's for the better that it got closed out sooner. If you'll notice we're at a MAJOR S&R zone that historically has only been respected twice, once penetrating down, then back up, in 1994, We are currently on that exact S&R line, and has been respected 3 times already this year. I would be very cautios about long positions right now until our box has been formed near the S&R zone on our 4H chart. Right now it appears as tho there is going to be a retrace to respect that S&R at...Ignored
DislikedYes you are right. How do you find historical level of S&R and the hits it had at that price level? If you have any indicator please do post . Thanks.
You are a good system designer but sleep well for your mental faculties to function well.
PJIgnored
DislikedIt depends on the S&R your looking for, I happened to notice that the price bounced/penetrated this line a number of times on the 4H chart, so I checked the 1D chart, same thing but after a heavy downtrend, then I changed to W1 and M1 and noticed that this price has been respected before in the past. So this is to be considered a long term, very potent S&R zone that has been in existence for over 2 decades.
But for right now, we have to consider that all Kumo clouds (part of a system that has been in use since the 50's) on all major timeframes...Ignored
DislikedOk. Understood. Yes 6 hours sleep is good enough. Having worked as a journalist for more than 15 years with long working hours in my second phase of career my body clock works as yours. I am semi-retired now but continue to work like when I was a cub reporter.
I have seen your energy level, capacity to work hard and with focus. But the most essential quality of a professional trader is patience and the mental makeup to accept failures without any reservation. Once you accept failure, you are done with it and you have something new to work on....Ignored