This went well. First profit taken, moving the stop loss to BE.
Regards,
Chart please? 
Does this help?
On MT4, you can use the Period Converter script convert H4 into H8 ( multiplier = 2 )
EVEN BETTER: on MT5 you have extra time-frames by default ( including H8 ).
Check out RoboForex MT5 ( 5-day, NY-close )
Cheers
.
On MT4, you can use the Period Converter script convert H4 into H8 ( multiplier = 2 )
EVEN BETTER: on MT5 you have extra time-frames by default ( including H8 ). Checkout RoboForex MT5 ( 5-day, NY-close )
Cheers
Possible Setup forming :
2-Bar Reversal @ Key Support and BRN 81.000 with the trend
Daily Candle has not closed yet!!
Regards
Nice spot, mate! What is your trade plan for this one, then? 
First of all it depends on how the candle will Close.
But my plan is to take 50% Profit at the blue-marked area and move my stop to BE. Then I´ll see how Price is reacting at FTA and depending on that I will adjust the trade.
regards!
6 hours and 17 minutes until this candle closes. We prefer to trade NY Close which is 5PM EST. You need to realize how much price can move in the next 6.5 hours. You donât want to set yourself up for disappointment by looking at a candle so long before it closes, because it may not do what you want it to. Stay neutral, and donât bother looking @ the charts until 5:01 PM EST. You can look before hand to get an idea of what price is doing- there is nothing wrong with that. But, you can not ask such questions as âhow do you plan to trade this oneâ because there is no trade. A trade may take 2 more days to even pan out. Or, the market can stall and consolidate at this point. My point being: x amount of things can happen right now. Wait until the candle is in the books. No stress there.
Hi Johnathon,
May I ask why not?
Cheers
LOL!
I should remember to throw that into a conversation somewhereâŚ
Excellent. I give you a trick question because I myself used to make that stupid mistake of putting the order directly when the candle was not even mature yet. :17:
Still a long way to go, usually I check daily chart after waking up in the morning. No need to overthink this one, anything can happen between now and the time when New York is close in a few more hours. 
Thanks Dudest and Bigcheefer, that looks great. I will have a go and setting some new time frames up.
How did I get on with my assessment Dudest? Was I correct to say that it was at a down swing?
Thanks again
BA
Add to that: it doesnât stand out ( I actually had to give the pic a good stare to see the candle )
.
The only reason why I was looking at the Daily candles 6 hours before closing is because I have to leave my Computer till the daily candles Close. So I put it on my watchlist and wanted to share it with you guys, although there are still 6 hard hours to go.
So no stress here at all
regards!
Hey BA,
Replying on that shortly.
@TFâs: I think it might be easier to just download an MT5 demo (e.g RoboForex) instead of having to setup many TFs on MT4âŚ
Cheers
well played mselva.
cheers
Hey ED
Hope that candle closes great for you! ( and us! )
@FTA:
Suggestion: would you consider adding to your pre-trade plan exactly what you intend to do when price gets to FTA? And maybe list a number of adverse scenarios that you could foresee and how you intend to deal with them if they occur?
[ assuming the candle closes as you wish ]
Cheers
Sorry, I actually did miss that! This forums moves so fast some of these slip past me. I have already moved to break even. I moved it there last night. In this case my TP is 6.1000, but I moved up to BE yesterday when I was up the 800 pips.
I donât always do the standard TP1, 2, 3 and move to BE at TP1, which is kind of the default trade management method and the easiest to do. But I will sometimes move to BE earlier based on price action or if I deem the trade as extra risky. And I donât always have TP areas. I will sometimes keep my whole position open as it moves through SR levels, or I will pyramid up my position on fresh price action. Both have extra risk involved.