bettlebox wrote:You should of been in and holding from the start of moment the longer you leave your entry on progression on 4hr swing the higher the risk you will get caught as you rightly saying.
I wouldnt be looking to go short or long where you are saying party started along time ago. You are just asking for trouble.newscalper wrote:bettlebox wrote:newscalper
Don't play break outs unless there is one exception you got something obvious to target.
BB - you're reading things into my post which aren't there. I said nothing about breakouts. That's the H4 TF, trades will be on m15, As long as H4 is closing higher according to the 'prices closing higher' etc, the price turns, say from red to green on h4, trading long as long as H4 continues to close higher. Great, whoppee do, until the last bar in the sequence when you are long and price does not close higher, it closes lower, often with swift and destructive momo wiping out all the gains you may (or may not) have made up to that point. To say 'price is closing higher on H4 therefore continue to trade long on M15 often gets you smashed, which is what I showed on the chart. Not a breakout in sight. All it is is buying pullbacks in a trend and as we all know they all end. And as I already mentioned, sideways markets get you killed.
Cool - I remember Dragon's charts of old where he traded in and out several times that's all. Keep on eye on H1 and H4 Zero lines above (if long) I guess) - it's just that when Dragon said ealier in the thread that you shouldn't be looking for a short as price was closing higher on H4, H4 had already closed higher 3 times already. Conflicting information (albeit from different people I know) creating confustion. 1 trader says should be short in that instance, another says should be long - now I know that's what makes a market but we are all trying to trade the same method here and can't even agree on direction on a past chart.