Yes I just started using two platform as the PA you are using in this thread is NY close time. One platform is just for charts and other to trade. If I find some good provider for trading who also uses NY close then I will shift to them but as of now I am using charts from different provider and I trade on different platform.
Thanks for throwing light on BUEB . As I am learning PA , it will take me sometime to figure out the A+ setup but hopefully will get there.
we don’t have to trade and more often than not the day will involve no trading. This makes the difference between the good and the bad. Do you always have to be in a trade or can you sit on your hands saving your capital in wait for the killer setups?
I am unsure what setup you are referring to on the NZDUSD and for me there is nothing around today that even slightly takes y interest so no trades.
okay, thats good. Stick to watching the NY close and not watching both if that makes sense. We only need to watch price on one lot of charts and not over analyse things by involving more charts.
A lot of people do this, watching for setups on NY close and placing trades on the broker of their choice, so if you are happy with your broker there is no need to change.
I do have a broker who has the correct charts who I trade live with but for many years I operated how you are.
If anyone is not liking their broker I urge you to change as there is so much competition these days with some really great brokers who also use NY close for there charts.
Hi dudest and everyone ! Just to say that I have had a crazy last week… had no no time to post. But I follow the thread with a bit of delay with very big interest!
Update on the GBPNZD trade posted earlier:
–> The blue lines were my first resistance ( = take profit ) areas
–> Had 3positions in all; closed two at first take profit, and moved the third to break even. All positions now closed
–> PS: the major support area had been earlier been marked out on Daily chart, and 2BR seen on 4-hour
The reason for me this is a no trade is because of the big upmove that recently happened. We have had a lot og highger high and higher lows. Now that wouldn’t worry me if this PA was large and obvious but it is small. The first chart shows the big bars we have had on the way up and the small BUEB. Just not convincing at all.
I would much prefer to go long. Trading with the trend is my much prfered option when I can. The second chart shows where I would like to take longs.
Basically I just can’t see a big enough edge for me to risk my money.
In saying that you are on a roll Dudest and as I type this it is going lower. I must also say I am not saying this will not go lower. I am simply saying this is not an A+ trade and something I could risk my money on. As you know I am anal about only taking the best setups.
Good luck and I hope this one does go lower for you so I can get a long!
I saw this setup on GBP/CHF 8hr chart. it will test resistance again as per the graph and probably give a good PA Or it can break the resistance and on pull back will act as support.
