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Commercial Member
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Joined Nov 2010
|1,175 Posts
The last M closed as an IPB in the PB range and overall the P is in RM.
The IPB is the second seller reaction at R level.
2011.11.22 IPB at R and sell order with the M IPB's low +TL as the first target.
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Commercial Member
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Joined Nov 2010
|1,175 Posts
I have to admit this it could have been a good opportunity.
With M in down trend and W in bearish flag RET, but most of all with D that didn't close above the R+61.8Fibb in confluence with the dynamic R.
The last M closed as an IPB in the PB range and overall the P is in RM.
The IPB is the second seller reaction at R level.
2011.11.22 IPB at R and sell order with the M IPB's low +TL as the first target.
Ignored
If it closes bellow 1.5877, then 1.5768 becomes the next target !
Hi,
I am quite new to this game. I like this trade a lot.
You normally trade longer TF. I am trying to learn using shorter frames so it's more movement in the chart ( as candles should work the same or almost the same in the shorter TF)
The problem I have is when I put all support/resistance lines starting from M and ending on H or even 15m then the chart is getting very busy.
How should I filter those S/R lines. In other words which lines are more important in short TF?
I forgot to ask if anyone could recommend a book or any other source of material which explains relationship between RSI and candle
Nison insist that some candles in a specific situations are more or less important signals depending on what is RSI at the time of there aperience.
So I would like to go a little more into understanding the relationship of it
Hi,
I am quite new to this game. I like this trade a lot.
You normally trade longer TF. I am trying to learn using shorter frames so it's more movement in the chart ( as candles should work the same or almost the same in the shorter TF)
The problem I have is when I put all support/resistance lines starting from M and ending on H or even 15m then the chart is getting very busy.
How should I filter those S/R lines. In other words which lines are more important in short TF?
Thanks
Eru
Ignored
Hi Eru
Your first post in this thread...an honour for me.
I choose to trede higher TF, for more reasons, but all the small reasons put together make a big one: this is what it works for me !
Trading the smaller TF give a great dose of adrenaline, it is nice and exciting, but certainlly not profitable. Trading in smaller TF requires a very quick reaction to a even faster analyse capacity, and as you are "new to this game"...your account will surelly feel your lack of experience.
I don't want to convince you by anything, and you don't have to belive me, try and you will find it by yourself !
The M+W levels are VERY reliabile on a D chart and tell us all we need to take the right decisions.
On every market and any chart the higher the TF is, more important the levels are !
Regard RSI....just as a perssonal opinion....the market is made by buyers and sellers with their emotions ! As long as we are not focus on them, we will never learn them !
Thanks for your contribution....looking forward !
The main reason to try shorter TF is the will to learn more in shorter time.
Correct me if I am wrong but ideally I would like to focus on one or two pairs and use the longer TFs to play with and follow their moves in shorter ones lets say H,15m to be able to correct any order if needed
The pair I focus now is Eur/Usd
Can you recommend any other low spread pair wchih is not much related to one above
Thx
Would it be ok if I post my own prediction of the move of Eur/Usd and so someone can show me wrong doing or missing important points when planing?
I am fine if no cos it's not a school but would be great to learn
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Commercial Member
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Joined Nov 2010
|1,175 Posts
[quote=Eru;5196183]
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Correct me if I am wrong but ideally I would like to focus on one or two pairs and use the longer TFs to play with and follow their moves in shorter ones lets say H,15m to be able to correct any order if needed
Perssonaly, I have a tottaly different opinion. If a pair doesn't give me the perfect conditions to trade for a long period of time, I don't have to wait to much, the other pairs could be in perfect market's condition to trade...so why should I limit my trading skylines ?
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Can you recommend any other low spread pair wchih is not much related to one above
Since I try to keep my trades as long as possible, I'm not interested especially in low spread pairs, but in high liquidity pairs.
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Would it be ok if I post my own prediction of the move of Eur/Usd
You can post anything you want, but for any "prediction", please let us know the reasons why !
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Commercial Member
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Joined Nov 2010
|1,175 Posts
AUDNZD
M-bullish channel
W-stuck in consolidation at 1.3185 R level
It will be interesting to see if the price could close above the R level...but if it will do it, the market levels becomes the next target, looking obviously at the M channel as final target.
I as said, my friend, it is always (safer) to wait the higher TF's confirmation. I hope that now you understood this concept of higher TF's confirmation.
On EURAUD situation we have a buyers reaction (BUOB) at RN, strong S and a strong sellers reaction (bearish PB-today) with the overall trend..that means that we have buyers and sellers= battle for the 1.30 S.
That's why is always safer to have the higher TF's confirmation and not to act at first level (S/R) level !
I'm very sure that a lot of traders buyed on yesterday BUOB, but let's take a look of what the D chart is telling us !
We turn back to talk about some very important trading steps: Psychology -plan the trade-one of the most important in trading process is the trade plan, understanding what the price is doing, who is in the market control, waiting for the price to reach our levels and the emotion control. We accept and we are taking all the responsibility for our actions as trades, entries, exits, etc.
[font=Calibri][size=4]Trading...
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I hope somebody pay atention at this post. I know that it past some time since it was posted, but the price acts right as we anticipated !
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Commercial Member
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Joined Nov 2010
|1,175 Posts
EURCAD
The first buyers allready start showing,at importantant static level and at the dynamic RM's S.
A buyers confirmation with a close above 1.3650, it is all we need to push the price to RM's R.
