new usd/chf trade see chart, nn updated.
please note that all trades are not valid until eur session starts and are invalid around news time. so beware of news.
this second leg has to close above the trend line in order to make it valid.
new usd/cad trade see chart, nn updated.
please note that all trades are not valid until eur session starts and are invalid around news time. so beware of news.
this second leg has to close above the trend line in order to make it valid.
ok 2nd touch was 1.0384 that 4hr candle closed as a doji the nxt 4H candle pretty much opened on the TL but entry would have been around 1.0391. I'm using Alpari Uk.
I've also checked odl.Fxcm and 3rd touch there was around 1.0394.
ok 2nd touch was 1.0384 that 4hr candle closed as a doji the nxt 4H candle pretty much opened on the TL but entry would have been around 1.0391. I'm using Alpari Uk.
I've also checked odl.Fxcm and 3rd touch there was around 1.0394.
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my chart is the same as dave's, hasnt touched. looks exactly like the screen he posted
sorry, I still confused with L1 and L2..
should I put pending order in both signal??
thanks..
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NO!
L1 and L2 define the TL (trendline). You have to wait for the third touch: when the price touch the TL enter the trade in the direction suggested by the NN client with SL and TP.
2nd and third hits already happend in the middle for this screen
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Hi guys
Great reading and inputs. Nice work David and very generous of you.
The reason for my post is a general enquiry about 2 points.
1) The concept mentioned by John (above) that the 3 hits have been recorded because the 2 middle candles have been on the trend line stikes me as a bit strange. Would you not normall wish for at least a candle gap between to validate the hit? The reason I say this is that it is possible for the No2 to be the close and the number 3 to be the open ergo it is really only one hit.
2) There appears to be differing charts even with the same timeframes ie several charts with 4h candles appear different. Similar in trend but slightly out when it comes to 'actual' candles open and close. So not hours out it would seem but out none the less. I can also state that my IG markets 4H differs from the ones quoted.
Has this been identified previously? It would make things rather difficult if we have 2 or 3 different charts for the same TF.
thanks for any feed back especially if I have this wrong somewhere
NO!
L1 and L2 define the TL (trendline). You have to wait for the third touch: when the price touch the TL enter the trade in the direction suggested by the NN client with SL and TP.
Dotmag
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I got TL1: sell gbp/jpy L1: 137.73 L2: 136.92 50/50
could you please give me an example for that?
thanks..
If touch the TL sell with SL=50 and TP=50 the lot size is on your decision.
Hope it helps.
Dotmag
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dotmag is correct, thanks dotmag for the screenshot. guys have disabled auto execute for the gy. news coming out shortly. hopefully it doesnt ruin this trade entry(remember wont enter if news impacts market and breaks the tl)
will re-enable at +1hr after news or if news had no impact.
How close to the TL does price have to get before you consider it valid? Are you looking for an actual touch of the TL? or (say) withing a few pips of it?.
I often seem to see price come close, and then shoot off in the direction suggested by the nn and think I should have taken the trade...
when it hit the L3, then we can open sell after that?
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Yes, but there are still some warnings to follow, you can find them in the David's first post, i.e. trade only after EUR session open, don't trade during news etc.
For example we are waiting right now for a GBP news so don't trade, it's gambling.
Trendline Scalping 4hr timeframe
