Are you trading just purely based on H1 TF kummi90?
Cause if you look at H4, especially the previous candle, it looks like its heading south. D TF is also not around any reasonable support area.
Unless higher TFs come together, you cannot expect a bounce on smaller TFs.
Best case scenario, you might catch about 20 pips on a retracement. Worst case scenario, it will hit your SL before you can say Mc Donalds Spicy Mc Nugget!. Especially when London or NY opens.
You have to match the lower TF like H1 with atleast H4 or D TF.
And its a Monday so it might not go according to plan.
I dont know as I cant see my charts but it looks good for my short from thursday. I meant to close it before market close on Friday but didnt make it to the computer in time. So now that its open we will shoot for the 1.03 figure. Not far to go
Yeah, I got stopped out easily anyhow lol.
The previous D TF looked bullish, so I decided to go AU at small sign of bullish signal. Not sound trading. Should I look for confirmation with equal weight at the 4H charts?
Yep we took a long last week. I know I know not good if I plan to short the Aussies into extinction. My signals were there and I pulled the trigger. I will not make a habit of it thats for sure.
You dont have to but I like to find confirmation with multiple time frames. Once they are all lined up saying the same thing. You can be pretty sure the momentum alone can carry you to at least be able to move your stop to be
I see my Aussie has not done anything today. I was up 70 pips when I went to come to work and looks like when I get home in a few hours I will be at 70 pips
this thread is not really like the turtles at all really.
they were trend followersā¦and had certain rules about trading higher highs and lower lows.
this thread is more about selecting great opportunities to trade based on clean price actionā¦wether it is a swing tradeā¦or if it catches a trendā¦that is a nice bonus.
but its not got the same rules like the turtles hadā¦they religiously traded any new 20 day high or low across lots of commdities and stocksā¦
they needed a vast range of instruments in order to be sure to eventually catch a trend.
Cudos man you have done your homework. 2 thumbs up to you. I wish more would do the same.
On a side note I will post my trade result here as I think this is where I posted my long entry and why I took it. I did not post a chart of the entry as I was busy and still am but I did snap a shot of my exit. It was at 70 pips today but I cashed at almost 150 pips the only reason why is we are going into where I was looking to go short. So its time to get out I can expect a reversal soon. If not hey great trade any way. This is a 1hr chart which was not the basis oof my trade. I took my trade off the 4hr on thursday (Ithink now I did post my entry somewhere on here lol) The reason for the 1hr was to trail my stop earlier today before taking a nap. Then I got busy and made a nice profit (both for being busy and this) here is my exit. Stay tuned for a short maybe. This was my exit I am done maybe this trade puts me in the black again. I took a loss 2 weeks ago. Last week I was down My trade on thursday made me go barely over BE for the week. This is the same trade as I got to the computer 2 minutes to late to close it. Well if I stay out all week I am still good in my book for lat week and this one. I am tired I have busted my butt working on my friends cars so here is a chart and good night.
Serious question if I may, Nicky, was it BP that caused your lapse in concentration? I find that the site is good for my education/cameraderie etc., but occasionally causes me to miss setups. So am curious to know whether this affects others.
Anyone who uses their first-ever post on here to push a website (and get their facts wrong to boot) is not someone that I would urge anyone to listen to. I imagine that Nikita is too much of a lady to throw you out of the thread for it, but I have to say that, these days, I probably would have in her position.
