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  • #612,401
  • Mar 20, 2012 10:36am Mar 20, 2012 10:36am
Quoting kuroro001
I'm looking at support/resistance on a 60mn chart...and take my trade on a 5mn chart.
It's all about how candles setups (high low close) regarding the previous ones.

If you trade 5mn chart, have a look at support and resistance on higher TF. then look at some pattern such as bullish engulfing candle or any other ones.
could you post 1 Hour chart, with support resistance, would the S/R indicator do any good for this purpose.
thanks a ton
-X-
deep RoT is essential for everlasting happyness
  • #612,402
  • Mar 20, 2012 10:43am Mar 20, 2012 10:43am
Quoting X.work
could you post 1 Hour chart, with support resistance, would the S/R indicator do any good for this purpose.
thanks a ton
-X-
Here is an example of S/R for eurusd, that's i've drawn manually based on a 60mn chart over a 1-2 years period.
And i've never heard about S/R indicator...i'd like to have a look at it though....but nothing is better than manual drawing to me...i don't rely on indicators

Attached Image (click to enlarge)
Click to Enlarge Name: 20-03-2012 16-39-55.png Size: 26 KB
COT: The precious data ignored
  • #612,403
  • Mar 20, 2012 10:43am Mar 20, 2012 10:43am
Closing aLl positions I"m out early got a meetiing... No need to be too greedy
  • #612,404
  • Mar 20, 2012 10:43am Mar 20, 2012 10:43am
Quoting Kowalczyk
The only time I close a position is when news comes out.

I have a high R:R (10:1 - 5:1) and medium chance of success (35%-60%). If I close my position early, my R:R drops significantly. I would rather have a couple of trades close at BE instead of lowering my R:R on my profitable trades.
I'm not sure if I understand this.
Even within a bunch of trades I sometimes take the good ones out first and then evaluate the rest for their own value. But at least I have the max. profit for the good ones.
Right now EU cannot manage to get above 1.3263 and I don't see this changing soon. (Today)
New voice message: Why are you calling me? If I need you, I'll call you!
  • #612,405
  • Mar 20, 2012 10:46am Mar 20, 2012 10:46am
Quoting X.work
very interesting, but could you explain why do you place your "FORK" at that points.

thank you in advance

-X-
drawing of the fork "for me " has many conditions and types I shall put it later soon in a thread but at all I always use H/L of last two weeks, let us assume that the red pitchfork is the main one and the blue is the sub-fork and as you see the red "main" one is flat fork I mean not pointing up or down so you use it as S/R fork not a breakout fork ( I trade pitch fork two types the breakout and the S/R type ),,in this one I shorted from the upper trend line of sub fork and my first tp is the median line of it and my second one is its down trend line and my final tp is the median line of the main pitchfork "red one",,,my SL is the difference between the upper media line of blue fork (that from I shorted) to its median line. Hope u understand me
-Alan H. Andrwes--------> Follower
  • #612,406
  • Mar 20, 2012 10:46am Mar 20, 2012 10:46am
Quoting kuroro001
Here is an example of S/R for eurusd, that's i've drawn manually based on a 60mn chart over a 1-2 years period.
And i've never heard about S/R indicator...i'd like to have a look at it though....but nothing is better than manual drawing to me...i don't rely on indicators

Attachment
K ! eye cancer

sry ^^

cheer up
Hero calls followed by margin calls...
  • #612,407
  • Mar 20, 2012 10:48am Mar 20, 2012 10:48am
stil you have bearish setiments ??
Quoting KillerWhale
I'm not sure if I understand this.
Even within a bunch of trades I sometimes take the good ones out first and then evaluate the rest for their own value. But at least I have the max. profit for the good ones.
Right now EU cannot manage to get above 1.3263 and I don't see this changing soon. (Today)
follow the flow of music $
  • #612,408
  • Mar 20, 2012 10:49am Mar 20, 2012 10:49am
Quoting KillerWhale
And on top of that: I still haven't touched a cigarette

I remember you speaking about this....have to say great on that. Im an ex smoker and I even sometimes slip from time to time (months in between at least).

Good luck to you, keep it up
  • #612,409
  • Mar 20, 2012 10:49am Mar 20, 2012 10:49am
Quoting Kowalczyk
The only time I close a position is when news comes out.

I have a high R:R (10:1 - 5:1) and medium chance of success (35%-60%). If I close my position early, my R:R drops significantly. I would rather have a couple of trades close at BE instead of lowering my R:R on all my profitable trades.
alright....lets split your statement ....

yo do have an average r:r of 1:5 - 1:10 ..... means at least every 5th trade should be in profit to be breakeven..... ( apart from spread )

yo also have a success of at least 35 % on average that means you are better than every 5th trade that u actually need....

samplesize ? traded units ? .... taking this line for 1-2 years and youll be a rich man....

just to outpoint the core of your statement :-p
Hero calls followed by margin calls...
  • #612,410
  • Mar 20, 2012 10:49am Mar 20, 2012 10:49am
Quoting kuroro001
Here is an example of S/R for eurusd, that's i've drawn manually based on a 60mn chart over a 1-2 years period.
And i've never heard about S/R indicator...i'd like to have a look at it though....but nothing is better than manual drawing to me...i don't rely on indicators

Attachment
Great picture. I will send you the indicator. it is not in this computer @ the moment. I keep changing computer, depending which one has working connection to internet.

-X-
deep RoT is essential for everlasting happyness
  • #612,411
  • Mar 20, 2012 10:50am Mar 20, 2012 10:50am
Quoting KillerWhale
And on top of that: I still haven't touched a cigarette
good job.
Hero calls followed by margin calls...
  • #612,412
  • Mar 20, 2012 10:50am Mar 20, 2012 10:50am
Quoting X.work
Great picture. I will send you the indicator. it is not in this computer @ the moment. I keep changing computer, depending which one has working connection to internet.

-X-
did u even try to establish a new internet connection? or changing the provider?

Hero calls followed by margin calls...
  • #612,413
  • Mar 20, 2012 10:51am Mar 20, 2012 10:51am
Quoting pip.com
I just took a long
closed -2 pips
There is no substitute of hard work and experience. $ € £ ¥
  • #612,414
  • Mar 20, 2012 10:52am Mar 20, 2012 10:52am
Quoting thefox91
Hope u understand me
Not yet. But I don't give up to understand you.

-X-
deep RoT is essential for everlasting happyness
  • #612,415
  • Mar 20, 2012 10:52am Mar 20, 2012 10:52am
i guess right now market makers will absorb every long from market, will try to hunt them to death..then will resume up!

just my view on PA

dax and snp on downside too
fokyou forexfactory
  • #612,416
  • Mar 20, 2012 10:52am Mar 20, 2012 10:52am
Short at 1.3232

Reason for trade: false breakout on 15 minute chart. Bearish outlook based on increasing divergence between US and Euro economies.
SL: 1.3312 (above previous high, 1.33 resistance and .618 fib)
TP: 1.3032
  • #612,417
  • Mar 20, 2012 10:55am Mar 20, 2012 10:55am
1 hr
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1 hr 03-20.gif Size: 24 KB
New voice message: Why are you calling me? If I need you, I'll call you!
  • #612,418
  • Mar 20, 2012 10:57am Mar 20, 2012 10:57am
Quoting PhAnTi'
did u even try to establish a new internet connection? or changing the provider?



they are all using 50 meter tower. I tried using 3G or CDMA but they are not that fast. no ADSL or fiber optic, sorry.

-X-
deep RoT is essential for everlasting happyness
  • #612,419
  • Mar 20, 2012 10:59am Mar 20, 2012 10:59am
Quoting KillerWhale
1 hr

I place "sell" @ 3190 hoping it to return to 3175. I keep doing this stupid mistake over and over again.

-X-
deep RoT is essential for everlasting happyness
  • #612,420
  • Mar 20, 2012 11:01am Mar 20, 2012 11:01am
I cut my short for +40 at 1.3195 earlier since I wouldn't be at the computer. The thing about this last run up is that there is CCI divergence on the hourly now. This leads me to believe that today's up move was just a stop hunt or retest, and that it may fall down again. Yes the move could bust out the divergence, but they are good bets.
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