It looks like your time is PST? I congratulate you on having found a way of trading despite this difficult time zone. I live under the same predicament and wonder how you manage it. Do you have a set routine of checking on your charts and positions, or do you check according to needs of developing price patterns?
I wanted to ask you about this, how do you determine which candle to use as the scout line? for example on the EURCAD you've used 5th candle after the candle which closed out of our BO box, where as on some of your previous charts you have used only a couple of candles or even one if i remember correctly.
Thanks, but I am going to fuss a little...take a look at the M15 chart. I have posted 2 of them. Look at where the dotted line is drawn. Now you tell me...which M15 candle did I use for the scout line?
It looks like your time is PST? I congratulate you on having found a way of trading despite this difficult time zone. I live under the same predicament and wonder how you manage it. Do you have a set routine of checking on your charts and positions, or do you check according to needs of developing price patterns?
Thank you for sharing in this wonderful thread.
Ignored
Yes I am in PST. I do most of my trading from about 5:00-8:00 am, depending on my court schedule. But I look at charts throughout the day. Then back after 6:00 p.m. looking for BO set-ups and off and on until around 8:00 pm.
after entry switch to a line chart and look for major peaks / drops closest to your entry point, and draw a line here. Then switch back to candle chart and adjust the line if it's close to a support / resistance line near wicks.
The scout line is placed at the bottom/top of the wick.
I draw S/R with just the bodies and not the wicks because I consider wicks merely exploratory, but others may use the wicks. There is no right or wrong way, it is merely personal preference.
after entry switch to a line chart and look for major peaks / drops closest to your entry point, and draw a line here. Then switch back to candle chart and adjust the line if it's close to a support / resistance line near wicks.
Ignored
I use just the line chart alot too. Gives a different prospective.
Click on the paperclip at the top right hand corner to view all attachments of this thread, then click on hide images and then download ' Symbol Info Label.mq..mq4'
Click on the paperclip at the top right hand corner to view all attachments of this thread, then click on hide images and then download ' Symbol Info Label.mq..mq4'
Ignored
Thanks Pirabuji...
Looks like this one finally cleared the scout line. In the money...
Click on the paperclip at the top right hand corner to view all attachments of this thread, then click on hide images and then download ' Symbol Info Label.mq..mq4'
Look like this pair is finally breaking out of a highly congested zone where it had been ranging for the last week or so, also breaking a strong resistance near 115.46
I remember someone who posted a long 3T setup for this pair, good job! In the meantime it is worth watching closely.
This is an interesting pair to watch for the next hours, a new 3T might be setting up and PA is getting inside a congestion area in the recent past (blue rectangle)
If we get a setup we might look for a trigger in confluence with a BO of this area and past the resistance level around 89.77
Trade What You See - Almost Naked Trading
