EU 8-RB, Could'nt sleep, watching this x.xx30 level..
Highest Open / Lowest Open Trade 21,202 replies
As complicated as necessary: Highest Open / Lowest Open Trade 861 replies
Getting a handle to open trades in the open trade tab 3 replies
EA to open trade on Next Candle open (help please) 4 replies
Medici trades the London open 435 replies
DislikedThanks for making me learn about range bars, they do seem to make technical trading clearer. Have you guys estimated how they compare to time charts. For example, a 15 pip chart seems close to the hourly to me, perhaps a bit less.Ignored
QuoteDislikedAnyway, I was going to show you a setup I found today which seems really good. It uses a 50 TEMA (triple exponential average) with a 12,26,9 reverse engineering MACD on the chart. The setup is that one will notice at times the momentum makes the 50 TEMA outpace past the pink MACD line, and this is about always a reversal. There is one occurring as I speak on the Euro.
But here is one a few days back on the Euro 5 pip range chart.
Below the pink and blue lines is the MACD, while the dotted line is the 50 TEMA. Check your indicator for divergence,...
DislikedEJ looked better for a short to me this morning. Possibly slightly premature exit on second attempt at 50 level, out for +28.
AttachmentIgnored
DislikedNice, beat me to it.![]()
Pertinent quote?
"Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one."Ignored
DislikedYes, I need to work on my targets. Thanks for the H1 chart, really useful..Ignored
Disliked
The target is 17 which you can see on the H1 chart but I am also watching EU for possible exit clues before that point if need be.Ignored
DislikedThere's nothing wrong with banking +28 on a strong move like that off the level considering it's an excellent R:R play. However, if you do bank pips in what could be a strong trending move you just have to be ready to get back in if it resumes like off the white arrow at MS2 in my RB7 chart above. There was also a nice dual shooting star in RB5 that could be taken as you can see below. By the way Ian, not lecturing you, just general thoughts for the thread on exits/re-entries.
As for my trade, I'm now out. Exited in two parts which...Ignored
DislikedNot taken as such, I'm always appreciative of your analysis on trade management and exits which are a work in progress for me.
BTW I see we've just hit your original target, good stuff..Ignored
DislikedA work in progress for us all, my friend, and the work will never be done...Ignored
DislikedYou should share a few charts, it could be helpful. Any guesses (or hopefully firm data) on what's been hurting your results this week? Too many CT trades? Not following the MAs?
No worries though. Loads of time to get back on track to finish off the week if you have worked out where the mistakes are being made and have a plan to turn it around.Ignored
DislikedWow, I'm addicted to the 1 pip range bar charts lol, I thought 1m charts was as low as I could go with thinkorswim.
It's good for with the trend divergence.Ignored