Intraday FX Player

Status
Not open for further replies.
read again, and also read the following posts, it's clearly explained, he is using the previous low and highs of the 40WMA as an indication of where the next support or resistance is going to lie if price gets back around this high or low.
He also said it's not a major thing, but something nice to add to your arsenal of tricks. Maybe better to focus at the essence at this point ... personally I went back to basics and left the 1 min of my screen.

I allready know what I'm going to do this weekend: reread this whole thread again with charts next to them so as to better understand the reason for every trade and everything that was mentioned so as to engrain it all.
 
Hi guys, anyone got a gameplan for today? Don't be afraid to stick your neck out; I'm taking a break soon and you need to be able to do this for yourselves. Mistakes are expected and I don't always get it right as it's something the market moves require us to review as the day progresses, but most often I get it right and it doesn't need adjusted.

So have a go...
 
from the 4hour I'd say the market is just sitting above a trendline, we had some tails here on the hourly, so I guess we will be seeing a swing up here. We shouldn't fal below 1.5660 or this would change the game-plan, meaning we would see another major leg down.
 
Quote from cvds16:

from the 4hour I'd say the market is just sitting above a trendline, we had some tails here on the hourly, so I guess we will be seeing a swing up here. We shouldn't fal below 1.5660 or this would change the game-plan, meaning we would see another major leg down.
More...

morning
 
went long at 98.5 with a hard stop at 88, started doing variable size too now according to where I place my stop. Did one fixed size before. It just makes more sense.
 
well done cv - got the big picture pretty well ok but I'd use the low at 5937'ish as the point of change for the 4 hr. We often need more than one bar to get a signal so if we have two bars on the 4 hr well there's 8 hrs gone: in other words theres a lot of scope on the 1 hr within the 4 hr.

The 4 hr looks strong but the 1 hr looks over extended so here's what I look for on the 1 hr.

A good reversal is on the cards OR we go into trend mode because the energy in the 4 hr is too strong. After such a prolonged (time) and extended (amplitude) move on the 4 hr it's loaded with upside energy so we'd countertrend trading on the 1 hr unless we break the bottom

As I type the clock is almost at the hour so thats a great energy point for a reversal, especially 10mins around the hr.

Don't want to do into how to identify trend because there close on too much I've shown at this point and it will defect your concentration from learning the basics.

In a nutshell, big trend up on 4 hr, energy on 1 hr for a good move down but it's sontertrend so it might turn innto a trend day up.
 
Status
Not open for further replies.
Back
Top