"You Never Know.....Until You Find Out."
- #66
- Edited 11:55am May 28, 2015 11:40am | Edited 11:55am
- Joined Oct 2006 | Status: Senior Trader | 844 Posts
yes... makes sense.
---------
earlier:
I'm out NZDUSD... breaking the M, it is heading to 0.67 area
and
I like [completion of] W into bearish trend and M into bullish trend.
so
the NZDUSD 'completed' it's M on the Daily... then kept going.... you took your chance, got taken out...
It's a D1 'breaking of the M'...
How long would you wait b4 deciding whether the market (could) 'remain in favor of the first signal' (an M pivot)? Days?
Do you look (then) for a 'breaking of an M30 W' signaling a reversal"?
or
when would you think it better to 'ride the break' down to the 0.67 area?
or
when you GET a break like this, is it better to just leave it alone and do something else.
(asking for your discretion/experience here)
It's the only way I can get 'inside your head'... and really understand 'how' you trade..
Thanks... (then I'm done
)
---------
{quote} sometimes it's good to close and reverse with new signals... sometimes if you do that you will regret because market will remain in favor of first signal.
I'm out NZDUSD... breaking the M, it is heading to 0.67 area
and
I like [completion of] W into bearish trend and M into bullish trend.
so
the NZDUSD 'completed' it's M on the Daily... then kept going.... you took your chance, got taken out...
It's a D1 'breaking of the M'...
How long would you wait b4 deciding whether the market (could) 'remain in favor of the first signal' (an M pivot)? Days?
Do you look (then) for a 'breaking of an M30 W' signaling a reversal"?
or
when would you think it better to 'ride the break' down to the 0.67 area?
or
when you GET a break like this, is it better to just leave it alone and do something else.
(asking for your discretion/experience here)
It's the only way I can get 'inside your head'... and really understand 'how' you trade..
Thanks... (then I'm done
)
"You Never Know.....Until You Find Out."
yes... makes sense. --------- {quote} earlier: I'm out NZDUSD... breaking the M, it is heading to 0.67 area and I like [completion of] W into bearish trend and M into bullish trend. so the NZDUSD 'completed' it's M on the Daily... then kept going.... you took your chance, got taken out... It's a D1 'breaking of the M'... How long would you wait b4 deciding whether the market (could) 'remain in favor of the first signal' (an M pivot)? Days? or when would you think it better to 'ride the break' down to the 0.67 area? or when you GET a break like this,...
Yes I took my chance as you said despite I'm strongly bearish on NZDUSD. Why did I try anyway? Because last time I missed M on EURJPY because i was bearish on EUR... I didn't dare to enter Long:
This is also a good example on how to join the signal even if you missed an entry... Center Point is key!
"How long would you wait b4 deciding whether the market (could) 'remain in favor of the first signal' (an M pivot)? Days?"
It depends on Price Action, today NZD was the weakest currency, some EA started to sell NZDUSD, I closed M before it touches SL.
"when would you think it better to 'ride the break' down to the 0.67 area?"
This is probably the best thing to do... Tripple bottom is strong support, a close below would send strong bearish signal. It's not forbidden to reverse trade.
"when you GET a break like this, is it better to just leave it alone and do something else."
Up to you... this will be depends on your trading style and personnality.
Hi, pipsFestival.... W, and M.. i think this will clear with line chart...
Yes you can use line chart if you like : )
Thank you for your picture, it reminds me I forgot to say how I ignore some signals on low tf.
I avoid M on top of chart and I avoid W on bottom of the chart.... or be ready to play opposite : )
{quote} Hey DingDong, Yes you can use line chart if you like : ) Thank you for your picture, it reminds me I forgot to say how I ignore some signals on low tf. {image} I avoid M on top of chart and I avoid W on bottom of the chart.... or be ready to play opposite : )
I use the example of the TF M30 ...
but, I use analysis at TF M30 for intraday and intraweek. hihihiiii ....
for my experience using a line chart, and see the shape of W, or M ..
using TF H4 is good enough, Brother .....
Regard, Ding Dong
I was late in the open position, This is a good signal. {image}
Ps: Center Point isn't your TP but it's the Center of the Pattern giving you confirmation about the potential success indication: (See below)
We have a Sell signal right now on EURNZD H4 and I won't take because of the currency strengh analyser:
This tool helps to identify a failed call... so we can play the breakout of the pattern!
I recommand you to download this Indicator !!!
http://www.forexfactory.com/showthre...19#post8241719
ps: Yesterday I notice that when I entered Long on NZDUSD, well on top of this indicator... it was the strongest Sell signal... and so I finally exited the trade with a loss. So I could have followed this indi to play the breakout. Same thing here on EURNZD:
Just idea:
In case it looks like false breakout... we can close the little Long and reverse.... Short entry price based on W Pattern is so well located (highest of the rectangle) and the first trade can cover the SL for the W call.
This tool helps to identify a failed call... so we can play the breakout of the pattern!
I recommand you to download this Indicator !!!
http://www.forexfactory.com/showthre...19#post8241719
ps: Yesterday I notice that when I entered Long on NZDUSD, well on top of this indicator... it was the strongest Sell signal... and so I finally exited the trade with a loss. So I could have followed this indi to play the breakout. Same thing here on EURNZD:
Just idea:
In case it looks like false breakout... we can close the little Long and reverse.... Short entry price based on W Pattern is so well located (highest of the rectangle) and the first trade can cover the SL for the W call.
