DislikedHi there Emm ,
Hope you have had a relaxing & fun-filled holiday break for the New Year.
Still digesting the early posts of this marathon thread so not expert yet - my 2cents agrees that a short is indicated but I have not had the final confirmation from the TDI. The Cross is still above the MIDLINE - I think this is what was intended in the original instructions.
What do you say ?
Cheers
BrianIgnored
Thanks for your response.
I like your use of the marathon analogy. When I watch marathon runners and I always admire the ease which the runners show when they run those long distances. It look easy, but I know they spent long hours in training and to build up their strength and stamina for the race. The same for traders, we need also to spend the time to learn and practice till to can trade at ease.
You spotted the TDI correctly. Although M15 shows a TDI cross with a double top chart pattern, the H1 TDi is in conflict woth H4 and D.
We do not know how the H1 volalitility will be until Tokyo opens therefore I mention many times in my posts about TIMING. Timing is inportant and we must observe closely market session opens and close, because there will be new buyers and sellers , and liquidity flow will change.
Small SL is risky when we do not validate and confirm with the higher TF and time our entries.
I read yesterday's post where several traders took counter-trend (CT) trades. They know it is CT but I think they should ask themselves what they were trading.
- Were they trying to catch some pips expecting a correction/retracement of the rallies? Or
- Were they trying to catch an early entry expecting a reversal ? (picking top/bottom)
All the ADR readings played havoc due to recent shorter trading days on 24Dec, 25Dec, 31Dec and 1 Jan.
Look at EU D chart and you will decide what to trade later during London session.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett