Please could u check H4 time frames if u do agree with SELL: CJ,GU,GN,GJ?
- #76,242
- Feb 22, 2017 4:23am Feb 22, 2017 4:23am
- Joined Sep 2016 | Status: Inactive | 1,531 Posts
Has been a long day for me writing in two forums. But I enjoyed it as some of you enjoyed my price action posts today. You want so more Pa stuff tomorrow and learn what Post#647 means? Time for me to hit the sack. Will be up for FOMC hour trading. Then to wake up my rooster to make sure it will crow for the sun to rise again. Goodnight folks.
PS you might want to update your signature
- #76,250
- Feb 22, 2017 5:51am Feb 22, 2017 5:51am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
{quote} Hello Tekkies,please could u writte,why did u choose this trade,if u did check before higher time frim for cinfirm the trend...etc,the proces for make this decission...Thx alot it will be very helpfull:-))
I get my butt kick when I do that, so I look at D1 and H4. When they have the same colour (direction as H1 I feel more confidant that it will be the right direction)
Only starting to understand now what he meant by candle short / long and what wicks are for. Know the name's of pin bar, inside bar, doji. What they do and mean not much. The same for support / resistance. This helped me a lot to understand what is going on a chart
On those chart you posted: download TDI Cross.pdf - Give's detail where to place a trade with the cross.
http://www.forexfactory.com/attachme...7&d=1486575371
- #76,254
- Edited 8:47am Feb 22, 2017 7:05am | Edited 8:47am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
{quote} If you post other members charts and hard work in your own posts, the bare minimum requirement is a credit and reference to who they are. The chart you posted above was marked-up by member Stevepatt ( https://www.forexfactory.com/stevepatt ). Best, N.
Never said it was mine.
It is not the first time that image is used, went to a previous post and copied the link
The same reasons as previous post
Above support / resistance.
- #76,255
- Feb 22, 2017 9:27am Feb 22, 2017 9:27am
- Joined Aug 2012 | Status: Trader | 18,655 Posts
the cautious seldom err....C
- #76,257
- Feb 22, 2017 10:49am Feb 22, 2017 10:49am
- | Joined Oct 2016 | Status: Member of the TMS Community | 161 Posts
@Wildcard,
Let me just show you my quick analyses using GBPJPY as an example.
You took a short trade and failed on it. This could be the reason why.
Below I paste the DAILY chart of this pair.
On this chart you will see several support and resistance lines.
The dark violet ones are the key level based on the MONTHLY chart
The dark orange ones represent the key levels based on the WEEKLY chart
And finaly we look at the daily chart to see where price was today.
You will notice that price was around a MONTTHLY key level.
Two days ago this was still a resistance line but it was broken yesterday and thus became support.
Today's candle shows that, indeed the move was bearish but until now price could not break again lower of this key level.
The day is not finished yet so this cannot be a final conclusion but as things look now this may explain why your trade failed.
You opened a sell order while price was still fighting major support.
I hope this helps. Please, fellow traders if someone disagrees with this analyses feel free to add your opinions but this is what I can make of it.
Let me just show you my quick analyses using GBPJPY as an example.
You took a short trade and failed on it. This could be the reason why.
Below I paste the DAILY chart of this pair.
On this chart you will see several support and resistance lines.
The dark violet ones are the key level based on the MONTHLY chart
The dark orange ones represent the key levels based on the WEEKLY chart
And finaly we look at the daily chart to see where price was today.
You will notice that price was around a MONTTHLY key level.
Two days ago this was still a resistance line but it was broken yesterday and thus became support.
Today's candle shows that, indeed the move was bearish but until now price could not break again lower of this key level.
The day is not finished yet so this cannot be a final conclusion but as things look now this may explain why your trade failed.
You opened a sell order while price was still fighting major support.
I hope this helps. Please, fellow traders if someone disagrees with this analyses feel free to add your opinions but this is what I can make of it.
First comes knowledge about yourself, then comes a system...
- #76,258
- Feb 22, 2017 11:42am Feb 22, 2017 11:42am
- Joined Nov 2013 | Status: Trader | 2,780 Posts
It's in fear when people show what they truly value.
- #76,259
- Feb 22, 2017 12:29pm Feb 22, 2017 12:29pm
Hi wildcard, attached are two GU charts from my live account and yes I made a small loss too. For me, the #1 reason this was a poor trade was that it was a sideways moving market and I should have spotted this. I was able to get into the trade at 2 am at the end of the first red candle and exit at 6 am.
I use the strategy and chart setups almost exactly as set up by eelfranz and other experienced traders in the first few pages of the thread (see post 25), however I have dropped the stochastic indicator. I now live on the Pacific coast and get up at 1.55 am and 5.55 am to check the charts and sometimes use the one hour charts from 6 am to 10 am my time. Hope this helps
Cheers. 
I use the strategy and chart setups almost exactly as set up by eelfranz and other experienced traders in the first few pages of the thread (see post 25), however I have dropped the stochastic indicator. I now live on the Pacific coast and get up at 1.55 am and 5.55 am to check the charts and sometimes use the one hour charts from 6 am to 10 am my time. Hope this helps
Cheers.
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