Quote:
Originally Posted by Max99
Tymen,
Maybe I’m missing it but from the chart 8pipike posted it looks like he’s pointing to the candle at point A on the chart I posted.
That’s not a valid signal and I wouldn’t have traded that close to the news release just two bars later. That would have been quickly stopped out. Have you had success entering a trade before major news releases?
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Just like to share what i have done last friday during those time with recent sample by tymen/8pipike.
Instead i used 1H chart (see attached). During the 3rd bar on the encircled bars, i was thinking it is going to develop a pattern so i wait for it to close and wait for next bar. While i was waiting, i watched TV and forget for a few minutes to monitor. When i get back, i saw the pattern formed and quickly go to 5m chart for entry. Luckily, i returned when the large green bar showedso i doubt myself if i should enter. I change the chart to 1m to look for the perfect entry and managed to enter near the top. I used the 5m chart for exit and managed to get +68 pips when the MACD started to reverse direction on 5m chart.
This was also my first demo trial of tymen's system and entry method and i'm also not aware of the news so this is some kinda luck. I'm not sure if i violated some of his system.
