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  • #38,721
  • Jun 24, 2014 8:24am Jun 24, 2014 8:24am
Oh, geez! A failed trade again.

AJ; Long - Jun 24, 14. There is no news.
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  • #38,722
  • Jun 24, 2014 8:42am Jun 24, 2014 8:42am
Quoting pastecopy
Oh, geez! A failed trade again. AJ; Long - Jun 24, 14. There is no news. {image}
My trade failed as well. I went against the 4Hr TDI which is never a good idea.

The best trades seem to be when both the 4Hr and 1Hr are in the same direction.
.... laughing all the way to the bank
  • #38,723
  • Jun 24, 2014 8:46am Jun 24, 2014 8:46am
Quoting pastecopy
Oh, geez! A failed trade again. AJ; Long - Jun 24, 14. There is no news. {image}
On the daily I have 2 lines of resistence (96 and 96.50 thereabouts) I reckon you took long right at daily resistence on my chart
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the cautious seldom err....C
  • #38,724
  • Jun 24, 2014 8:59am Jun 24, 2014 8:59am
Quoting pastecopy
{quote} Yes, I had missed this news. Thank you for reminding. {quote} Thank you for feedback. My entry point was based on the prev 4H candle (6am London time) rather than the 10am London time. Though if I had waited for the 10am London 4H candle closed, I still get slaughtered as posted here: http://www.forexfactory.com/showthre...26#post7546426
I don't think you would have traded long (G/Y) at 10am as candle was red . That is why I don't like trading H4 at 6am. I rather be sleeping
the cautious seldom err....C
  • #38,725
  • Jun 24, 2014 9:07am Jun 24, 2014 9:07am
Quoting pips29
{quote} On the daily I have 2 lines of resistence (96 and 96.50 thereabouts) I reckon you took long right at daily resistence on my chart {image}
I think this is the most likely hood of the problem lies. In this type of chart (rising pennant), where it keep testing the previous high, do you just leave it or looking for short opportunity or look for other pair?

Thank you again.
  • #38,726
  • Jun 24, 2014 9:17am Jun 24, 2014 9:17am
E/U 5mtf
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the cautious seldom err....C
  • #38,727
  • Edited 9:32am Jun 24, 2014 9:20am | Edited 9:32am
Quoting pastecopy
Oh, geez! A failed trade again. AJ; Long - Jun 24, 14. There is no news. {image}
Are you taking trades based on H1 or H4? If you're taking H4 trades then you need to look for a good cross, not a touch, a good cross. Look at the chart below, I have the same H4 finish candle as you do, this is the h1 chart with the tdi zz looking at the h4 chart and where it was at the time. You entered on the open of the following candle, it had barely touched the red line, that isn't the type of cross you should go in on, you need to see a good cross or as someone else said on here it needs to smack you in the face
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  • #38,728
  • Jun 24, 2014 9:20am Jun 24, 2014 9:20am
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the cautious seldom err....C
  • #38,729
  • Jun 24, 2014 9:24am Jun 24, 2014 9:24am
Quoting pips29
E/U 5mtf {image}
I've always been intrigued by csm indies but they have some serious lag on them unless you trade the extremes. How do you trade them pips29?
.... laughing all the way to the bank
  • #38,730
  • Jun 24, 2014 9:31am Jun 24, 2014 9:31am
Quoting pastecopy
{quote} I think this is the most likely hood of the problem lies. In this type of chart (rising pennant), where it keep testing the previous high, do you just leave it or looking for short opportunity or look for other pair? Thank you again.
Personally, I would short at resistence , long at breakout or retracement to support area
the cautious seldom err....C
  • #38,731
  • Jun 24, 2014 9:32am Jun 24, 2014 9:32am
Quoting pips29
E/U 5mtf {image}
...bleh... I wouldn't even give that to my neighbours' cat!
.... laughing all the way to the bank
  • #38,732
  • Jun 24, 2014 9:38am Jun 24, 2014 9:38am
Quoting itsallover
{quote} I've always been intrigued by csm indies but they have some serious lag on them unless you trade the extremes. How do you trade them pips29?
Crosses of currencies, crosses over zero line and slope. When one currency is sloping upwards for eg. and the other is flat on 5-15mtf, it means that it is gaining strength against the other currency solely based on its own strength and not that the other currency is weakening because it is flat. Hope it helps
the cautious seldom err....C
  • #38,733
  • Jun 24, 2014 9:40am Jun 24, 2014 9:40am
Quoting lastingwell
{quote}Are you taking trades based on H1 or H4? If you're taking H4 trades then you need to look for a good cross, not a touch, a good cross. Look at the chart below, I have the same H4 finish candle as you do, this is the h1 chart with the tdi zz looking at the h4 chart and where it was at the time. You entered on the open of the following candle, it had barely touched the red line, that isn't the type of cross you should go in on, you need to see a good cross or as someone else said on here it needs to smack you in the face {image}
Based on 4H but entry @ 1H. This entry point based on previous 6am London 4H.

Yes no touching/kissing but a good cross. Thank you for reminding .
  • #38,734
  • Jun 24, 2014 9:45am Jun 24, 2014 9:45am
Quoting lastingwell
{quote}Are you taking trades based on H1 or H4? If you're taking H4 trades then you need to look for a good cross, not a touch, a good cross. Look at the chart below, I have the same H4 finish candle as you do, this is the h1 chart with the tdi zz looking at the h4 chart and where it was at the time. You entered on the open of the following candle, it had barely touched the red line, that isn't the type of cross you should go in on, you need to see a good cross or as someone else said on here it needs to smack you in the face {image}
The cross just before your vertical line in blue.. would you have taken it?
.... laughing all the way to the bank
  • #38,735
  • Jun 24, 2014 9:46am Jun 24, 2014 9:46am
Quoting pastecopy
A failed long trade again. GJ; Jun 24, 14. I found out I always get caught by a fakey, how to reduce this incident? Feedback welcome. {image}
What number candle did you enter on when you went in the GJ H4?
  • #38,736
  • Jun 24, 2014 9:47am Jun 24, 2014 9:47am
Quoting pips29
{quote} Crosses of currencies, crosses over zero line and slope. When one currency is sloping upwards for eg. and the other is flat on 5-15mtf, it means that it is gaining strength against the other currency solely based on its own strength and not that the other Spcurrency is weakening because it is flat. Hope it helps
So the only pairs you'd consider looking at, would be the ones above the zeroline?
.... laughing all the way to the bank
  • #38,737
  • Jun 24, 2014 9:49am Jun 24, 2014 9:49am
Quoting itsallover
{quote} The cross just before your vertical line in blue.. would you have taken it?
I don't like to take crosses too close to the mbl mainly because they very often bounce off of it.
  • #38,738
  • Jun 24, 2014 9:55am Jun 24, 2014 9:55am
Took a long on H1 looking for 70 against 60. Took 20 green pips off E/U. Still -30 on this pr
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the cautious seldom err....C
  • #38,739
  • Jun 24, 2014 9:57am Jun 24, 2014 9:57am
Quoting lastingwell
{quote} I don't like to take crosses too close to the mbl mainly because they very often bounce off of it.
I never knew that.... however, on this occasion that cross just before your blue horizontal line is even further away from the MBL line . So would that be a good cross?
.... laughing all the way to the bank
  • #38,740
  • Jun 24, 2014 10:00am Jun 24, 2014 10:00am
Quoting itsallover
{quote} I never knew that.... however, on this occasion that cross just before your blue horizontal line is even further away from the MBL line . So would that be a good cross?
Sorry Kelly not sure which one you mean, how many candles before the blue line is the one you mean?
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