I found this thread about a week ago and have been taking notes, screenshots, etc... I just started demo trading and wanted an opinion on a EUR/USD entry. To me in the 4hr chart below, this looks like a good long entry IF the green crosses at a 2 o'clock angle... But if I go to the daily chart, I'm less sure about the trade as it seems to still be in a downtrend...
I found this thread about a week ago and have been taking notes, screenshots, etc... I just started demo trading and wanted an opinion on a EUR/USD entry. To me in the 4hr chart below, this looks like a good long entry IF the green crosses at a 2 o'clock angle... But if I go to the daily chart, I'm less sure about the trade as it seems to still be in a downtrend...
Thanks in advance....
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I'm new too, still learning myself... but if it crossed it would be something I would certainly look at... At this point it looks to early to tell. I have both FXDD & ONDA up and ONDA looks like its moving away from a possible cross and FXDD hard to tell what will happen yet... Either way it does appear to be entering a 'flat' area which could mean bounce or reversal from how I understand it... I would really want to see what happens at the next candle... worth watching in my opinion... again... I'm new lol
I do have two current hourly trades open, both long, AUDNZD & USDJPY
Joined Jan 2010
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Status: Primary Technical Trader
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Big E, I took the AUDNZD long trade from the 4hr chart earlier. I exited when it popped and made 50 pips a few minutes ago.
When entering, I scaled in even as it dropped lower earlier but my stops were set just the same.
I do have two current hourly trades open, both long, AUDNZD & USDJPY
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Wish I had taken AUDNZD on the 4h not the 1h haha... anyway took a 6.8 pip loss on that and got a +1 pip on my uj before tdi signaled out on both and I closed em...
I'm new too, still learning myself... but if it crossed it would be something I would certainly look at... At this point it looks to early to tell. I have both FXDD & ONDA up and ONDA looks like its moving away from a possible cross and FXDD hard to tell what will happen yet... Either way it does appear to be entering a 'flat' area which could mean bounce or reversal from how I understand it... I would really want to see what happens at the next candle... worth watching in my opinion... again... I'm new lol
I do have two current hourly trades...
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Thanks for the feedback Keltset - I'll just keep my eye on them...
I am already in the NZD/USD short on the daily (I got in a few hours ago at .8290) & the USD/CAD long. It is the 3rd candle of the U/ CAD so I am being careful.
I would not have taken the trade for one simple reason....
1) Poor angle of the green line as it crosses the red line.
2. We want a 12-2 or 4-6 angle only....
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whats wrong with that angle, looks like at least 4:30 to me. i wouldnt have taken the short trade due to the up trend
Dcginc,
i understand and agree about people doing the research for themeslves, however i think that people asking questions in this forum is exactly that. you say that you tryied to emulate succsessful traders early in your career, and i feel that is what people are trying to do here, they see you as successful and therefore are trying to learn from you with their questions about the atr etc. sure they could go and google it or find it on wiki, but this forum has given them access to you, someone who is currently using it with succes, so why not get the right info first time around straight from the horses mouth.
not having a go at you mate, just a thought for consideration. I love reading your posts and soaking up the insights of a pro trader, keep them coming please.
I found this thread about a week ago and have been taking notes, screenshots, etc... I just started demo trading and wanted an opinion on a EUR/USD entry. To me in the 4hr chart below, this looks like a good long entry IF the green crosses at a 2 o'clock angle... But if I go to the daily chart, I'm less sure about the trade as it seems to still be in a downtrend...
Thanks in advance....
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Forget the daily charts when trading H4, look at weekly for the trend. currently its down so thats a no trade for me. also if you look at the last swing low, it didnt last very long, thats another indication. you dont need to trade every cross just the high probability ones.
It's not quite time for trading the 4 hour london market, but it looks like the EUR/AUD 4H Long is setup to be a winner. TDI green cross at 32 and stoc moving on up.
Took this at opening of todays candle...look at candle prior, tds cross and angle, previous candle. Thanks adeforex...(check out the posts) up 60 pips as I write.
Well done.... I'm staying in N/U trade as I took set up from daily chart..hope it's got a bit left in it....still haven't worked out how to post charts sorry.
It's not quite time for trading the 4 hour london market, but it looks like the EUR/AUD 4H Long is setup to be a winner. TDI green cross at 32 and stoc moving on up.
Well done.... I'm staying in N/U trade as I took set up from daily chart..hope it's got a bit left in it....still haven't worked out how to post charts sorry.
It's not quite time for trading the 4 hour london market, but it looks like the EUR/AUD 4H Long is setup to be a winner. TDI green cross at 32 and stoc moving on up.
For those experts out there, do you agree?
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We would be entering on the third [next] candle (color change) tho... (according to both fxdd/oanda chars 4h charts) right? How I understand it is that the rules say to pass and look for another set up, and not enter on third candles or mid candles)
Well done.... I'm staying in N/U trade as I took set up from daily chart..hope it's got a bit left in it....still haven't worked out how to post charts sorry.
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Thank you ..
it's easy to post a chart .. follow these steps
1- go to you File in your MT4
2- scroll down to save as a picture, small box will pop up then choose the last choice (Active chart)
3- save it in your desktop
4- click post replay here in the thread
5- scroll down to Attach file
6- small box will pop up
7- click brows then your desktop. choose the chart you saved in your desk top.
8- click uplode
9- you are done.
Example, the above NZDUSD trade. The weekly trend is up, therefore should we only be looking at the 4 hr for long trades? Looking back over the charts, a lot of counter trend trades would not work out. Yet many on this forum are sucessfully making profitable trades going against the trend.
