DislikedIts a close up of the post above at post 49
http://www.forexfactory.com/showthre...72#post5539672
shows were I was wanting to place entry before 30min bar closes like you were saying.
cheers scalpzIgnored
DislikedIts a close up of the post above at post 49
http://www.forexfactory.com/showthre...72#post5539672
shows were I was wanting to place entry before 30min bar closes like you were saying.
cheers scalpzIgnored
Disliked"the long red candle is your m30 signal...."
wen i looked at the chart, that candle met all the entry criteria, so i set a pending, then it continued south, then rule 6 happenned. so because the candle hadn't closed, things changed in real time, so i deleted the order in real time.
"what r u looking for next..."
i'm looking for a new M30 bar to break below that trend ext, and then if all my 1-8 steps are met, set another pending order. this move that can be seen easily from h4 has not given its fruit yet.
so bars are containers that...Ignored
Dislikedthat is why i made the point about candle closing first before you set your pending order..
in this particular example, as the big red m30 candle was developing , you had already placed your pending buy at the high of it + 2 pips. imagine then if it had triggered your buy i.e. price just moved up slightly and trade got filled, and then fell as it did. instant 30 pips loss.
so is it not better to wait for the m30 candle to close first ? before setting the pending order....
also, unless candle closes, where would you know to put your...Ignored
Disliked
I've seen 2 or 3 trades that i missed already this week because i was on an airplane.
Ignored
Dislikedif i remember correctly, when i pulled up the chart, price wouldv needed to move around 8 or 10 pips up to trigger it.
"so is it not better to wait for the m30 candle to close first ? before setting the pending order...."
i don't think so. maybe wait for M15 to close? i'm gonna continue to NOT wait.
well SL is typically 30, but not always, there are some 25, 23 pippers SL, etc.
"i dont understand your last paragraph...."
:nerd:Ignored
DislikedIf you're talking about E/U I don't know when those trades were.
There have been 3 extreme 30 min bars at the end of 81 + pip moves this week.
4/2 1300 GMT - 35 Pip range- no trade because SL would have been excessive.
4/3 0930 GMT - 26 Pip range- ditto above.
4/3 1830 GMT - 26 Pip range - ditto aboveIgnored
Dislikedso, do you not need to wait for m30 candle to close, so that you may set the correct sl, based on high/low of that candle ? if not how do you decide if it is 25 pips sl, 30 pips , 20 pips etc..?Ignored
Disliked30 minute chart.
This is all of this week. There weren't any trades according to your rules.Ignored
Dislikedi think the problem is that its not easy to see in history without going to m5, where my order wouldv triggered, before or after the close of the m30 bar.Ignored
DislikedYou've lost me.
Here are the rules you posted in post #1.
I don't see anything about a 15 or 5 min bar.
What you are saying now is that you are not trading the 30 min bar, you are trading 5 min bars.
This system is only for use with Eur/Usd.
1) Using a 4 hour chart, find a recent move that exceeds 81 pips.
2) Move down to a 30 minute chart, and draw a standard fibonacci retracement from high to low on a downmove or from low to high on a upmovement.
[b]3) Place a pending buystop/sellstop order 2 pips above/below the extreme of the 30 min....Ignored
DislikedYou've lost me.
Here are the rules you posted in post #1.
I don't see anything about a 15 or 5 min bar.
What you are saying now is that you are not trading the 30 min bar, you are trading 5 min bars.
This system is only for use with Eur/Usd.
1) Using a 4 hour chart, find a recent move that exceeds 81 pips.
2) Move down to a 30 minute chart, and draw a standard fibonacci retracement from high to low on a downmove or from low to high on a upmovement.
[b]3) Place a pending buystop/sellstop order 2 pips above/below the extreme of the 30 min....Ignored
Dislikedright now all the criterion are met, so we set a pending order...
15 TP
23ish SLIgnored