hold your horses..
- #655,121
- Jun 11, 2012 11:28am Jun 11, 2012 11:28am
- | Membership Revoked | Joined Mar 2009 | 16,693 Posts
- #655,122
- Jun 11, 2012 11:29am Jun 11, 2012 11:29am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
- #655,123
- Jun 11, 2012 11:32am Jun 11, 2012 11:32am
Let me ask you different question so you will understand why I don't care what Soros says on CNN and why I just look at my candles.
Example
Lets say D1 or H4 Tf
PA comes to a monthly low and Asian session formed big fat hammer off that level - will you be wondering about some hedge fund strategy? I won't I'll just check there is no news in next 3/4 hours which could change obvious direction for London open.
Yes candles lies - but at sup & res there is nothing else that can make you enter your trade and nothing more accurate to pick up entry - I...
I tend to emphasize channels...and, yes many times channels will lie! Those bastards!
But then there is positioning. There are days when faders come out the woodwork. Usually it's a day when everybody's been hit over head with a story like the "historical short EUR positions" story. Many traders believed the short squeeze would re-assert itself today... I think they represent a huge underwater position right now and the market is going to go after them. That is why I believe price will fall a ways more.
But I can always be wrong!
- #655,124
- Jun 11, 2012 11:33am Jun 11, 2012 11:33am
- | Joined Nov 2011 | Status: Trader | 2,927 Posts
good day to you, sir
It will update. But first watch for a few days... the challenging part comes with the scaling - one has to fit on top of the other - so different magnifications can give different views.
I use one scale larger than smallest - ( reduce charts to the smallest scale/ then one up)
Regards
Thank you for that
swing it!
- #655,126
- Jun 11, 2012 11:41am Jun 11, 2012 11:41am
- | Joined Nov 2011 | Status: Trader | 2,927 Posts
I'm not challenging the usefulness of candles (or fibos, channels, EW, etc). I am willing to pay attention to everything; but, each trader gravitates toward something that works best for them, and gives proportional weight to other methods according to how well they work.
I tend to emphasize channels...and, yes many times channels will lie! Those bastards!
But then there is positioning. There are days when faders come out the woodwork. Usually it's a when everybody's been hit over head with a story like the "historical short EUR positions"...
My entry is formed in three simple steps
1. sentiment
2. candles
3. sup & res
And I believe these three simple principles if mastered can be a very profitable way to trade.
It is working for me
swing it!
- #655,127
- Jun 11, 2012 11:44am Jun 11, 2012 11:44am
- | Membership Revoked | Joined Mar 2009 | 16,693 Posts
- #655,129
- Jun 11, 2012 11:47am Jun 11, 2012 11:47am
- | Membership Revoked | Joined Mar 2009 | 16,693 Posts
did you drink something man ?
- #655,130
- Jun 11, 2012 11:48am Jun 11, 2012 11:48am
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #655,131
- Jun 11, 2012 11:50am Jun 11, 2012 11:50am
- | Joined Jun 2007 | Status: full-time trader wannabe | 975 Posts
I am sober for all I know.. I think, but I'm not sure now, the last 2 m15 candles are green. Adding them up makes up for 30 minutes of up... I could be wrong though..
seeing the charts from http://www.dailyfx.com/charts/netdaniachart/ as I am not home right now...
Twitter: @forexpokerpro
- #655,132
- Jun 11, 2012 11:52am Jun 11, 2012 11:52am
- | Membership Revoked | Joined Mar 2009 | 16,693 Posts
here's where our perspective gets shifted
seeing the charts from http://www.dailyfx.com/charts/netdaniachart/ as I am not home right now...
GL with your short for the time being.besides.. put 95 on your chart, see what that tells you..
- #655,133
- Jun 11, 2012 11:55am Jun 11, 2012 11:55am
Don't know mah man. My perspective is crystal clear. We're at support and unless the low of that hammer goes (close below it) on h1, it's going up...
I need to finish something i started
- #655,135
- Jun 11, 2012 12:01pm Jun 11, 2012 12:01pm
- Joined Jul 2007 | Status: Trader | 17,796 Posts
Don't know mah man. My perspective is crystal clear. We're at support and unless the low of that hammer goes (close below it) on h1, it's going up...
besides.. put 95 on your chart, see what that tells you..
COT: The precious data ignored
- #655,136
- Jun 11, 2012 12:05pm Jun 11, 2012 12:05pm
- | Joined Nov 2011 | Status: Trader | 2,927 Posts
swing it!
