Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #68,604
- Apr 24, 2016 11:28pm Apr 24, 2016 11:28pm
- Joined Nov 2008 | Status: Trader | 50,255 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #68,605
- Apr 24, 2016 11:34pm Apr 24, 2016 11:34pm
- Joined Nov 2008 | Status: Trader | 50,255 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #68,606
- Apr 24, 2016 11:41pm Apr 24, 2016 11:41pm
- Joined Nov 2008 | Status: Trader | 50,255 Posts
Pivots are calculated using the previous week's OHLC data. If the previous week was narrow range, then this week pivots levels are close to one another. If the previous week range is wide range, then this new week pivots are much farther apart making target profit 'hard to achieve'.
However, when we use the Average Weekly Range over a several number of weeks, for example 52-weeks average traded range, the target profit levels are more 'realistic' and achievable.
AUDUSD, beware of intra-week reversal to the downside. When this happen, we look at the new swing high this week and measure the number of pips to the next swing low... usually 60% of the 52-weeks AWR.
However, when we use the Average Weekly Range over a several number of weeks, for example 52-weeks average traded range, the target profit levels are more 'realistic' and achievable.
AUDUSD, beware of intra-week reversal to the downside. When this happen, we look at the new swing high this week and measure the number of pips to the next swing low... usually 60% of the 52-weeks AWR.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #68,607
- Edited 1:17am Apr 25, 2016 12:58am | Edited 1:17am
- Joined Jul 2013 | Status: Trader | 1,045 Posts
Pivots are calculated using the previous week's OHLC data. If the previous week was narrow range, then this week pivots levels are close to one another. If the previous week range is wide range, then this new week pivots are much farther apart making target profit 'hard to achieve'. However, when we use the Average Weekly Range over a several number of weeks, for example 52-weeks average traded range, the target profit levels are more 'realistic' and achievable. {image} AUDUSD, beware of intra-week reversal to the downside. When this happen, we...
Hmmmm... I know MN is strongly bullish, but based on the last W1 candle (shooting star), I am short on this pair this week. Your picture tells me you are long, so should I assume the W1 shooting star is not important to you at all? Besides, H4 is kind of a very long way to the MN. I mean there is not really a connection between these two TFs, because the distance is too big between them. It's better to connect W1 with H4, in my opinion, in order to establish a direction. MN/H4 is like looking at D1 to trade M1. I am looking forward to your inputs.
P.S.: "we look at the new swing high this week and measure the number of pips to the next swing low... usually 60% of the 52-weeks AWR. " That tells me you are short, also?
So your pic points to targets on the upside, and your text speaks of bearish targets. What am I missing?
- #68,608
- Apr 25, 2016 1:35am Apr 25, 2016 1:35am
- Joined Nov 2008 | Status: Trader | 50,255 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #68,610
- Apr 25, 2016 1:49am Apr 25, 2016 1:49am
- Joined Jul 2013 | Status: Trader | 1,045 Posts
{quote} Hi, Your weekly shooting star candle will not reverse this pair so easily. Day position traders remains in long positions and will hold out the correction. 4H swing traders can trade both ways this week if the correction is deep enough for 2R trades. otherwise, 4H swing traders should wait for buy setups and ride with the longer term traders.... until the next RBA rate decision. regards,
Just as you said: "4H swing traders can trade both ways this week".Thanks, Emm!
- #68,613
- Apr 25, 2016 4:15am Apr 25, 2016 4:15am
- Joined Nov 2008 | Status: Trader | 50,255 Posts
GU seems strong buy H1 H4 {image}
GBPUSD buy targets...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #68,615
- Apr 25, 2016 6:56am Apr 25, 2016 6:56am
{quote} Hi, Please post your chart and I'll explain the different ways to determine Initial Stop Loss, Position Sizing using R and R-Multiple trade management, Trailing Stop Loss, Jumping Stop, etc. and how we "let profits run" to maximise profits. regards,
- #68,616
- Apr 25, 2016 7:01am Apr 25, 2016 7:01am
Pivots are calculated using the previous week's OHLC data. If the previous week was narrow range, then this week pivots levels are close to one another. If the previous week range is wide range, then this new week pivots are much farther apart making target profit 'hard to achieve'. However, when we use the Average Weekly Range over a several number of weeks, for example 52-weeks average traded range, the target profit levels are more 'realistic' and achievable. {image} AUDUSD, beware of intra-week reversal to the downside. When this happen, we...
What is the name of this average weekly range indicator so I can find it on papperclip?
Thanks!
- #68,620
- Apr 25, 2016 1:37pm Apr 25, 2016 1:37pm
{quote} find bridgewater {image}
Thanks!
{quote} Thank you Mr. Emmanuel, for your help and your time!! EDIT: To get the "52-Weeks average trading range", do I just do a ATR(52) on a weekly chart? Is there indicator you have on the attached H4 chart available for public use?