DislikedIt's really interesting that you do not look at major news. They change directions and sometimes push price 300 pips away. In my opinion it is worth to know in what direction they will come, so you can calculate probability of reversal in pips. End of last week news for USD were positive but price did nothing. That was strong signal that USDCHF will drop below major support line. Sometimes market looks confused near S/R lines and news push it in or away. For last few months my prediction for major news is 100%. The funny is that the market sometimes...Ignored
Thank you for your replay. I did not expect it from you. Usually professional traders do not share their knowledge with little guys. I really appreciate this.
Whole my trading experience through last few years was trading H1 from pivot to pivot until I found your thread. One thing really interests me; how do you know that this is good opportunity to open 6 positions? Is it on every bigger "W" and "M"? How do you manage fake signals? Open 6 Lot and 100 pips SL on each is a lot of money.
I am not good on fundamentals. I just look at FF calendar and analyze which way news will come this time, so this gives me direction of price and strength. I imagine this as a bow and an arrow. If it goes it usually goes for 120 pips. If it stays, then someone do not want the price to go there, so I ask myself "why?" and what's going to happen now. Sometimes it really helps when I see news for whole next week and know that they going to be bad for that currency. And this is why I believe that price contains news
Whole my trading experience through last few years was trading H1 from pivot to pivot until I found your thread. One thing really interests me; how do you know that this is good opportunity to open 6 positions? Is it on every bigger "W" and "M"? How do you manage fake signals? Open 6 Lot and 100 pips SL on each is a lot of money.
I am not good on fundamentals. I just look at FF calendar and analyze which way news will come this time, so this gives me direction of price and strength. I imagine this as a bow and an arrow. If it goes it usually goes for 120 pips. If it stays, then someone do not want the price to go there, so I ask myself "why?" and what's going to happen now. Sometimes it really helps when I see news for whole next week and know that they going to be bad for that currency. And this is why I believe that price contains news
Pure Price Action Trading
Still short gbpusd, how are yu managing the trade...from my own opinion, sellers won't be happy if price trades above the yellow line, if i was short and price goes above the yellow line and stays above it, i will be looking to close my short positions and looking to buy, but if price drops below the green line and stays there, i will be looking to add my short positions, by using the already open position as a cushion. It will also depend on the momentum when these two lines are broken, if the momentum is strong, thats gives more conviction that buying pressure is more than selling pressure.Vice versa if i was a buyer....I will also have to be aware of the significant levels (red lines). Thats my thought process right now on gbpusd. Hope i explained it well
hmmm....weird. Do you still have your EURUSD short from last year? Are you Long on EU now? And do you go long and short same time to pick up more cherries (eg. monthly short but daily long)?
BTW. it's shame you don't use this chart settings as you have done on the beginning of this thread. That was awesome. I do it because I fed up with all "nothing saying" candles, oscillators, guru applications etc. ONLY price action now. S/R and trend lines plus news make me happy now
Pure Price Action Trading
BTW. it's shame you don't use this chart settings as you have done on the beginning of this thread. That was awesome. I do it because I fed up with all "nothing saying" candles, oscillators, guru applications etc. ONLY price action now. S/R and trend lines plus news make me happy now