Just wondering if you were still in this one. I noticed it retraced a bit but seems to be holding and may start down again. Looks like a good channel trade.
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LG, Not sure but it may be stalling out. What trigger point or key candle and time frame would you be looking at to enter going back up if pa stayed in this channel, and now may start back up?
Okay. We have been swamped at the health club, so I haven't been able to get on today. Which RSIs do you watch during a channel trade?
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Mainly a PA trade....just bouncing off the S/R lines. H1 needs to be in your direction. These trades generally only last one candle. But the more RSIs in your direction the stronger the trade.
LG, Not sure but it may be stalling out. What trigger point or key candle and time frame would you be looking at to enter going back up if pa stayed in this channel, and now may start back up?
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No, traded it down for 12 pips. Got out when it stalled out. Still watching it though.
No, traded it down for 12 pips. Got out when it stalled out. Still watching it though.
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So you wouldn't get back in long unless rsi 1hr or +4hr were long. Then watch your 15min tf for an entry. Then watch the trade in what time frame? 15min? Until it reaches the top of the channel or started to stall out?
So you wouldn't get back in long unless rsi 1hr or +4hr were long. Then watch your 15min tf for an entry. Then watch the trade in what time frame? 15min? Until it reaches the top of the channel or started to stall out?
No need to watch the M15 chart for entry because you are watching the price move up and down within the H1 marked 4C BO support/resistence lines and the entire trade is usually under 20 pips. It's just a fun little trade that also helps train the eye to price movement.
No need to watch the M15 chart for entry because you are watching the price move up and down within the H1 marked 4C BO support/resistence lines and the entire trade is usually under 20 pips. It's just a fun little trade that also helps train the eye to price movement.
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Makes sense when you study the chart and follow your statement. Thanks LG.
Makes sense when you study the chart and follow your statement. Thanks LG.
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RBH, I just follow the same guidelines as LG. Sometimes this gets pretty easy, just like playing a game. The PA just keeps bouncing up and down off of the BO lines. You just have to watch for the BO.
RBH, I just follow the same guidelines as LG. Sometimes this gets pretty easy, just like playing a game. The PA just keeps bouncing up and down off of the BO lines. You just have to watch for the BO.
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Yes! I'm going to watch a couple of currency's and trade on paper. Just to get a feel for it. But I've been watching LG and others making these channel trades and haven't traded them much. But it looks like a person could pick up a few pips with it during the week waiting for trends to form.
Question would you try and stay inside the open and close of the candles and not the wicks?
Yes! I'm going to watch a couple of currency's and trade on paper. Just to get a feel for it. But I've been watching LG and others making these channel trades and haven't traded them much. But it looks like a person could pick up a few pips with it during the week waiting for trends to form.
Question would you try and stay inside the open and close of the candles and not the wicks?
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Personally I use the bodies, just like setting the lines for the 4H BO. I don't do it much because I have gotten burned on the BO. Just be cautious and watch the PA. It won't always go all the way to the top or bottom. Hope this helps.
I entered this one yesterday. Not sure if it will continue. JPY is a little weak yet with the other currency's so I'm going to hang on to it for a little more time.
Personally I use the bodies, just like setting the lines for the 4H BO. I don't do it much because I have gotten burned on the BO. Just be cautious and watch the PA. It won't always go all the way to the top or bottom. Hope this helps.
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Thanks Fitness09, I know what you mean. I've had many stop on my entry and reverse to never return for days or not at all.
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Joined Feb 2007
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Status: COFFEE please!.!...
|258 Posts
Here in Germany it`s 07:45 a.m. (in the morning) and maybe in the London session in about 75 minutes we make a lot of pips!?!
A good hand and lots of luck...
Trade What You See - Almost Naked Trading
