Hey Velniukstis,
now I remembered why my S/R level was lower, just had too zoom out to see it again
I corrected it and also marked it higher now. IMO it is a trade off between letting the new swings high peak through or letting the old swings low peak through S/R (when you mark it higher).
I chose the second way, as I think the recent swings should have more weight in drawing S/RâŚ
BTW, if i would have set an order for the BEEB it wouldnât have been triggered anyway and I would have cancelled it by now, as I only wait for one daily candle to trigger.
Iâve set pending orders for the PB on AUDJPY D1 as I like it more than the PB on GBPAUD (buying into too much trouble). Canât post another chart right now as Iâm in a hurry
The red line is my stoploss, the green line is the entry. The orange dashed line is the FTA in my opinion and the purple line is a many times respected S/R-Level / Area (it was respected in the past, too, not only in the visible chart of my screenshot)
I have to say that I set my pending order just some minutes ago, so I got not triggered yet.
@nanoos - are you aware that your charts arenât NY-Close-Charts and you might see âfalse signalsâ or miss signals?
Thanks All - I appreciate the feedback. I am still struggling to mark the S/R in the right place so decided to post my charts here to learn where to mark them.
Newbie question I know - but In terms or NY-Close chartsâŚhow would I set that. Should I set my time on my charts to EST or is there another setting somewhere.
I looked at the chart again and wasnât feeling good so cancelled my pending order on AUDJPY. You always should ask yourself if you would 1000$ ond that trade, and I wouldnât.
Just look at the S/R at about 95.33 just below the PB, it got touched multiple times⌠Scared me out of it as there is not enough space for a first TPâŚ
Itâs true, that level got touched multiple times, but it poorly managed to turn the price in the past, while the level around 95.99 acted well as turning point and in my opinion, the signal is realy good. Of course, price could struggle at this level (as it did today), maybe it could turn. But I think, the 95.99-level and the setup are stronger than that touched level.
There is no way for you to set that. The time follows the brokerâs server time so choose a broker with NY close charts. Some examples are Pepperstone, ICMarket, Axitrader, RoboForex.
Alpari is another one with NY-Close-Charts. And FXCM uses them in the Tradestation2 (in Metatrader too, but that depends on some factors. You may get NY-Close-Charts in the FXCM-Metatrader when you ask the support)
@thetrendsfriend
Some days ago you wrote you want âyour D-Mark backâ - are you from Germany?
