DTF= Daily Time Frame
HTF= higher time frame
1HR/1HRTF= 1 hour time frame
Since questions on what abbreviations mean seem to be popping up a lot (which is always good to ask and not just assume as we are here to help) I am going to post a link to a thread started by clint that will come in useful here.
http://forums.babypips.com/newbie-island/49172-glossary-ict-terms-abbreviations.html
Thank you for your prompt reply regarding the abbreviations.
Kind regards
Irma
Its my pleasure and thank you for following along and taking interest
You are correct. Market does have periods where it follows the ârulesâ, and it has times where it misbehaves.
Finding the extreme zones of support and resistance helps us avoid the noise arising from this non confirmation period.
I use the weekly and daily candles for this too.
My favorite off lately has been the weekly candle.
Same principles.
Wait for day to have a bull candle. Long on the next. Long because weekly was long previously and did a nice pullback to previous LL.
Entry was late, but still took it cause it was a good set up.
TP low for a set up based on weekly and daily, but since its a friday, im more than happy with what im banking in based on H4 levels.
Wait and watch. I dont crack my head daily anymore.
Only two entries this week, but im fine with it.
Anything lower than DTF is hardwork these days due to central banks intervention.
I have two questions. Why did you you say your entry was late, and what did you use for your t/p? Thanks
I had a good week. Three trades. 2 winners and one lower. Ended with 52 pips. Lower was due to a mistake a made and was for spread only. Immediately reentered. I will post charts after I mark them up as needed. I love this thread. I still used the 1 hour chart for entry and s/l because the 4 hour is still to risky for me.
See the doji or something like that on H4. Well that would have been my cue to go long. I was not watching the new candle and missed a lower price.
Again, if we look at DTF, see where the previous bear candles LL was? Well that was a bottom of a previous wave. A good support area.
Finally My TP is on the same level of resisitance on DTF. If you look to the left a little, you will see many candles in a row failing to break that high. If this was a tuesday or wednesday, my Tp would be higher up on the next level of resistance, but Friday is known for lack of momentum due to traders taking profit for the weekend. Hence the first resistance.
Thanks Nikitafx. I also have been finding intraday a little difficult these days.
Hey,
I think anyone should be able to answer this that has been following this thread since inception or for awhile anyway. Iâm about on Pg10, 100posts into this thread. How far into this thread is it recommended before jumping to the end where posts are current? Donât want to take a short cut, but on the other hand donât want to read 275+ pages if itâs not needed. Iâm getting to some chit chat not relevant to the topic on hand.
First off you dont want to take a short cut but dont want to read 275+ pages? lol you got no idea how much reading goes into this.
Anyhow most in the beginning aare most important. And the pages are all loaded with posts that do not contribute but the get this thread you must read this thread. Scan past the posts that do not pertain to this system and keep the rest but this is a very good thread and worth the read.
Got to agree with Bob - with respect, if you arenât prepared to put in the time to reading the whole thread, you could be in the wrong gameâŚ
Thanks for responding, both of you. My point in asking that question was to omit the âfluffâ that can acclumulate in threads sometimes. Just wanting to be efficient with the use of my time. Scanning is what I had planned and I already have several pages of notes, so I am willing to put in the time. See all yâall when Iâm done and have digested the info.
Looking forward to your questions along the way. About the fluff yeah this thread has it to. But generally you can get a feel for fluff very early in the post with out spending to much time.
Sorry if I was harsh. I donât think there is a thread on BP without banter and sidings, but in my opinion this one is well worth wading through longhand. Ten pages a day youâll be done in a month without noticing the time!
ST,
No, you werenât harse. My skin is as thick as my skull, ha! I was near a part of the thread and Nikita had written that she didnât want or intend to let this thread to get 100-200 pgs in lengthâŚhere we are approaching 300 which prompted my question.
I couldnât understand this. Does it mean that analysis on H1 is not possible or executing trades on H1 ?
If it is analysis, We were on D TF since the start right and did use H1 for the executionâŚ
Yes, you are right. She just means that there is a lot of noise/chop chop going on, on lower time frames because of central banks intervention.
You can still trade from H1. You just gotta make sure you have confluences.
Ha well she didnt ban me off the thread and some of us just cant keep quite lol. No good threads just dont die.