Seems like we have a couple of trades being tried, it’s good because it’s some more experience every time! I’m about 40 pips away from closing EURJPY short from yesterday for 140 pips. Then, 20 pips lower, I’m planning on going long just as I see TMB has analysed.
So much to learn but it’s pretty amazing how your eye slowly but surely gets trained to see the patterns more and more.
I’m up much, much more than the last time I posted here and it’s largely due to TMB’s awesome lessons that he learnt the hard way and so selflessly shares with us.
[I]“Learn every day, but especially from the experiences of others. It’s cheaper!”[/I] - John Bogle
Congratulations cyanidez! Glad to hear that everything is going great for you!
I can’t say the same because i had some major drawbacks before i found this thread when i was testing different trading strategies and my account is still -70%.
But hey, it’s money well spent since i learn everything with every trade. My biggest struggle right now is that i want and need to watch the market movements more and watch the trades trigger. But since i have a daytime job mon-fri, eight to five it’s pretty much impossible. Stuck with my limit orders all the time.
Well well, sometime i will find a solution to that “problem”…
Hmm… this trade looks like it will take some time to trigger…
Don’t lose hope! I reckon that being forced to analyze the chart and anticipate the trade is probably the best because otherwise the temptation is there the whole time to react to price rather than anticipate good trades… so actually, it’s a good thing!
I grab the concept, but I still cant figure out how you draw the following lines:
How did you draw those white fib lines?
How did you draw that 2 strong purple line at top left corner.
How did you draw that light purple from top to mid right?
That’s the forming of a beautiful bull flag. It overlaps with our long target in about 24-30 hours from now. A close above the last hourly closed candle will completely negate this pattern and I guess it’s back to the drawing board
For those interested, it may be worth your while looking at the Euro 4 hour. Completing a butterfly which should bring in a potential 70-80 pip movement at least.
Not a problem. Glad to be able to help share in everybody’s good fortune. Going back and forth like this with each other, there should be no reason any of us should fail.
Looking at the MarketScope data. I realize that FXCM open late like 4 hours on Sunday. There are couple bars off on the 1 hour chart. If you are using marketscope also, Why do you have all the 1 hour bar? everyone is missing that 4 bar as I can tell.
In this cas, when it lost 4 bars on the hourly chart, does it affect this method much?
As I can see, on the last US holiday on last Monday, FXCM open late and, it lost a peak bar on the hourly chart. Which we use for XA swing. Do you think it affect us? and how can we minimize this? I think I saw your chart off that long wick as well on the last holiday.
