I did a buy at 1.62160 what do you think?
got up a 7ma 14ma and 21bb seems to be showing the trend better with less cross overs.
on a 15m chart
TalonD,
You must be kidding. Plan on disapointment if you’re going to keep trading like that. It will go down to probably the 1.61860 level as all TF’s are hitting upper resistance. Even if I’m wrong the trade is not a good trade. What was your plan on this trade? What was your analysis?
Sorry for the bluntness but somebody has to tell you so don’t take it personally. I hope you were scalping and not trading long term.
Johnny
bluntness is fine, I know I have a lot to learn. why do you see this as a bad trade?
I hope you got some pips it looks like tweezers @1.6250
Rember don’t feed the bears
John
[B]Johnny[/B]
So what now were down from day charts through 4h and 1h to 15m. Awsome. :D:D:D
Something screwy with my 15M chart it showed tweezers @ 16250 I switched to 1H chart and back again now their at 1.6245. Or maybe I am spending to much time staring at then?
John
There must be something wrong with me charts all my charts except the 4H show the BB’s Up or flat. or are we not talking about cable?
John
Good luck guys and Good trading its 02:44 GMT and I have to be up real early!!! 
There’s two Jonnys, we’re not getting confused are we?
personally… I’m always confused
No your TalonD I’m confused
How did you make out on that trade?
I missed it My wife won’t let me trade and eat dinner at the same time.
John 
I got out because it’s getting kinda late, actually only 10pm here but late enough for tonight. out with about 20 pips, a good night for me.
[B]JohnnyBEsmart[/B]
Just one thing before I hit the hay. I see dozens of you hot shots a year… read all there is to read and think your ready to tell me which side of the page to read! Just love it! 
Night all.
Have a good evening R.
success speaks volumes!
couldn’t resist, got back in for 10 more pips… I’m doin good tonight
I’m going to call it a night too I’m seeing things that are not there
But I did stick to my plan and only watch today tomorrow I trade
Later all
John
TalonD,
Come on now I put up a challenge and I’m waiting for your reply. You must have had a good reason to make the trade. You weren’t just gambling were you? We can all learn from this and I promise I won’t bite. I’m trying to get you to think why you made the trade. What did you see?
Johnny
simple realy, price has been trending up since about 1900 gmt, just jumped on for the ride. nothing fancier than that.
I do see some resistance up there but the trend seemed strong.
keep in mind I’m still a greenhorn newbie. But I’m taking lessons from a pro!
actually… seems like a pretty strong move for the Asian session no?
Wonder how the London breakout will go in the morning?
TalonD,
Sorry I didn’t see your reply. It wasn’t really a bad trade but the way you posted and asked the question it sounded like you were gambling and asking for clarification. I was challenging you to say why you knew it was a fairly good trade as you were scalping the market.
[B][U]MY TAKE ON THE TRADE[/U][/B]
The PA hit the midline which is a reversal point with the angle of the trend on a sharp uptrend. this is normally a good scalp move but there are other things to consider. The M30 and the H1 were at the top the H4 was at the midline but this may not be of great concern if you’re only after a small nuber of pips so lets move down to the M5. I’m not exactly sure where you made the trade only that it was 1.62160. A better trade was at 7:45 when the PA hit below the midline. The next was at 8:35 as the PA again hit below the midline.
[B][U]THE FUNDAMENTALS AT THE TIME OF THE TRADE[/U][/B]
The dollar was down, gold and oil were up which strengthened your trade. Volume was only fair but turning up and hit major highs with buyers much higher than sellers.
So there you go TanlonD, congrats on a good trade. But did you know before you made the trade? Did you trade with the confidence of a professional or were you just making a good guess? Only you know the answer to that question and it doesn’t matter to anybody else but you. I’m just trying to show you the way. Guessing does not always have a good outcome. We all make mistakes in the beginning and yours are no worse then mine or others. What separates the successful traders from the unsuccessful ones is whether they learn anything before the money runs out. You seem like your ready to learn and that is a good thing. Here’s hoping you succeed and make a ton of money.
Trade well and prosper,
Johnny
R Carter,
Down boy down, I’m just trying to teach this young man a thing or two. He’s got a great attitude and he will probably make the grade. Are you a Brit or are you just living there?
Good trading,
Johnny
Hi R Carter,
What’s important depends what it is you are doing. Are you looking to scalp just a few pips or are you entering a longer term trade and looking for a whole basket. I personally don’t change the way I look at the trends. I’m always looking for as much profit as the market will bear.
I look to trade on the bottom or top of the channel on the upper time frames. I scalp the lower time frames but again my analysis starts at the upper time frames because this is where the lower time frames will go to in time.
I have witnessed moves from the lower TF’s blow through the channel and not stop until the daily resistance was hit and this all happened in a matter of a few hours.
Now it has been written by many that you trade the trend of the time frame you are in but I don’t suggest doing it without the knowledge of where it will eventually end up. How many trades have you made that you bailed out early because of minor reversals only to see the PA turn right after you got out and took a loss?
An analysis of these trades will tell you the trade reversed to the dominant trend but just for the sake of argument let’s just say it didn’t and the PA reversed to a counter trend. Now you have a decision to make and you have three options. You can bail and lose some money or wait for it to hit a reversal point. You could even hedge your bet and then make profit in both directions. Having a good idea of where it will reverse is a key factor in your decision.
I haven’t had this happen in eight months but it might happen tomorrow. The fact is I just hate dodging bullets and I hate losing period so counter trend trading is something I avoid like the plague. I just trade another pair that is going with the trend.
The fact most traders face eventually is that most of the money is made at the upper time frames from the H1 on up. The lower time frames are much too noisey but the drawdowns are less so most retail traders trade there. If you can survive down there scalping the M1, M5 and the M15 you will probably end up one of the better traders as it’s a lot harder to make money.
Trade well and prosper,
Johnny
Originally posted by R Carter;
Lets not get bogged down with the Daily chart, pretty sure thats currently heading South. What about the 4h then… oh yea thats heading south also.
Better sell then. Well what about the 1h and 15m and oh yea the 5m. Thats not important in the grand scheme of things then? Just asking?