closed it down
Attached Image (click to enlarge)
Thanks Tim! Hope you're keeping well btw, I remember you from back in the day 
TEB - question on the 3 minute chart. Why do you mark that one as a gotcha bar? For me, a gotcha bar is a widespread (often down) bar that locks the herd into weak positions. But that bar you've highlighted looks like a simple upthrust to me? (Maybe I'm not reading your chart correctly).
TEB - question on the 3 minute chart. Why do you mark that one as a gotcha bar? For me, a gotcha bar is a widespread (often down) bar that locks the herd into weak positions. But that bar you've highlighted looks like a simple upthrust to me? (Maybe I'm not reading your chart correctly).
Blogging daily now at www.volume.zone
- #27,586
- Jul 21, 2016 5:00pm Jul 21, 2016 5:00pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Thanks Tim! Hope you're keeping well btw, I remember you from back in the day
A chart never lies. And if A chart never lies, then ALL charts tell the truth. And if ALL charts tell the truth, why do you need more than one?
(Mind you, HG always spoke the truth).Glad to see you're still around HG!
Blogging daily now at www.volume.zone
Thanks Tim! Hope you're keeping well btw, I remember you from back in the day
Yeah, its amazing i'm still here and i've never really gotten any better at this. At least when it comes to real time. haha.
<p>{quote}</p you are trading spot Market on a one minute chart only? this is a demo I hope. I would say be careful on a one minute charts. way to many things can happen. if it was the the 3 chart it maybe ok. cheers teb
{quote} what will be suitable timeframe if I do one timeframe only? I have been stopped out on USDJPY with 1-minute chart.
I'd recommend starting with the 1 hour chart to be honest, and then maybe go down to 15 minute. 5 minute is still a bit risky, although I recognise the temptation. I used to feel with the 15 minute I'd got in too late. 100% of the time I was wrong on that, I just had to be patient and look at the bigger picture.
Blogging daily now at www.volume.zone
- #27,597
- Jul 23, 2016 6:08am Jul 23, 2016 6:08am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
{quote} what will be suitable timeframe if I do one timeframe only? I have been stopped out on USDJPY with 1-minute chart.
The issue is less the time frame you are using and more if or not you are doing 3 or more charts. the newer a trader you are the bigger time frame to use. I personally like to watch trend and strength on the week day and 4 hour and trade on the 4 hour 1 hour. 15 min. in a strong trend in the busy time of day -I use 1 hour 15 min. and 3 minute..
I do not know of even one trader that make money consistently trading on just one chart, with anything less then the day chart. In a strong trend everyone makes money.
Tom the founder of VSA will only takes trades in line with a number of charts. But a 1 minute no matter what is too small for sure for a new trader using only one chart.
cheers and good luck
TEB