Intraday FX Player
- Thread starter CFerret
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There had been a lot of history of important reactions at this EMTL... still 1 hr to go on it
THe move up...some see the CCI and expect a push up - thats several 4 hr bars
Some see the pattern and look for an A-B-C projection (now fulfilled)
A few understand EMTL and look for a touch of the line
Combine the information and the chart really talks
Go to the 1 hr - the BO up from congestion was signalled in many ways - final BO was a gift - inside bar take out
Look at the triangle in the 30 min - then go to 15 min
15 min - great flat bottom to clear triangle just above PP and CCI breaks up from lows before move up
and so on - everything talks
THe move up...some see the CCI and expect a push up - thats several 4 hr bars
Some see the pattern and look for an A-B-C projection (now fulfilled)
A few understand EMTL and look for a touch of the line
Combine the information and the chart really talks
Go to the 1 hr - the BO up from congestion was signalled in many ways - final BO was a gift - inside bar take out
Look at the triangle in the 30 min - then go to 15 min
15 min - great flat bottom to clear triangle just above PP and CCI breaks up from lows before move up
and so on - everything talks
A-B-C's occur in every TF and often finish with a strong reversal/reaction as it's a very well known pattern. The pattern completed on the PP.
You start with seeing these signals with hindsight on the bigger charts.
Then with hindsight you start to see it on the smaller charts.
Then you start to see it faster but still with hindsight.
Next you start to see a few in real time but tying up multiple TF's is hard.
then you start to see it live in several TF's
After that you can add anothet TF and so on.
Then you realise the importance of trading first at the smallest TF and how you can countertrend and be safe - and know you are against the trend.
Then you start to relax because you can see the full picture.
Guys for some days I have not given a gameplan. When I do it's almost always spot on even thought I'm calling the moves for many, many hrs IN ADVANCE. Money for old rope.
While I'm here I'd encourage each of you to do it, even for a laugh so there's no pressure. The common notion on ET is it's impossible and yet is should be fairly basic.
One last thought - and it's about indicators. I read on ET that you should have no more than 1 indicator - well there is no "one" indicator that tells all. Get to know one well like CCI. Then add something like stochastics because it has a completely different calculation basis.
If any of you want help with indicators I can suggest two guys for training/mentoring - I don't have time to go into this field myself and it will cost you. Use PM's please so we don't clutter up the thread with off course discussions.
As I'm typing the 1 hr has 20+ minutes to complete. It forming a Reversal/Continuation signal at the moment but it can look very different at the hr close.
If it stays here, and you know to clock watch and look to see if PA hangs high around the close of the HR... if so what a gift. ATM time as the 4 HR closes too - that's why I mentioned on the 4 hr prior post we had an hour to go.
A-B-C on PP with continuation/reversal IF, IF it hangs
ATM TIME! if we hang here a little longer.
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