#Quote from yoohoo:
Guys/CF I meant to say, if I ever disappear for a period of time without saying it's because like CF I have an ill father, and as he's well on in years his time might not be far away.
In the last 3 weeks he's suffered a stroke and a heart attack but he keeps coming back to health and strength again and leaving the doctors scratching their heads.
So if mum gives me real bad news I will jump on a plane and fly to the other side of the world. But I'll be back - it's not my nature to just leave friends without saying.
I'll try to keep this in mind, I was probably looking too much at the 1 minute which got me very confused around that time, gave back all my profits from this morningQuote from yoohoo:
5 mins is your key chart to trade off. Use the 15 and 30 to clarify the 1 hr - but at times the 1 hr is the clearest. When you have got the 5 min cracked add the 1 min and 4 hrs.
Any time a small chart is unclear it is telling you to look at a bigger timeframe for direction. Any time a big chart is unclear it is telling you to look at a smaller timeframe for trades.
For eg big tails both sides of a 1 hr is telling you to trade chop on the 5 min. When it breaks you want to ride the ATM.
If in doubt get clear S&R and buy support and sell resistance. This PP is very playable in scalp against a T/L or hold long with a tight reverse stop
As they say, we live and we learn ...###############################Quote from Turhovach:
Greetings again. Disappeared for a bit to go for a rather long ride on my new baby. Anyway, glad to see this thread is very active and more important , informative. So I'll quickly add my 2 cents re what just happened. And since a picture is worth a thousand words, here it is - a beautiful pivot play:
http://i32.tinypic.com/2hhdpxd.jpg
Sorry, that's a 5 min EUR/USD
##################################Quote from cvds16:
CF, he is using the previous high of the 40WMA, the one around 5:10 GMT as a future reference point for the high 8:06 GMT. I got 52 by doing the same with the last low by taking the value of the WMA at the last low.