cfabian wrote:Rushn4, dragon,
Is it possible for you to post a chart? I'm trying to find that H1 candle and pin bar you're refering to. Time reference is not that accurate.
Thanks a lot. Cheersdragon33 wrote:rushN4 wrote:dragon33 wrote:scheeco wrote:rushN4 wrote:rushN4 wrote:rushN4 wrote:here is my EJ trade today , hope it works out
ok SL hit -20....now short
and long on GU
OK GU hit my SL -28..... EJ hit my target +48
dragon would be great if you could tell me what i did wrong?
HI Rush, I am the last person to comment but I would have gone short where you went short if only my MBT metatrader did not lose connection.But I would not have gone long as you have done though!
My analysis was as follows:
H4 has no MOMO apart from previous LONG MOMO some H4 candles ago - and prcie seems to be ranging.
However we are in the H4 zone (probability check)
H1 has big LONG MOMO followed by BIG SHORT CANDLE that closes below the OPEN of previous H1 candle and thus FAILED to make new high and CLOSED LOWER THEN OPEN PRICE!.
This to me implies - WAIT and see what happens with next H1.
Next LONG H1 closes below the 50% level of the SHORT H1 CANDLE.
WAIT - here I am thinking that price wants to go SHORT.
Next H1 has no MOMO to go long.
NOW I am looking for other probability checks:
Sema confirmation ( this will indicate the upward movement of price has reached an extreme)
Close of first other colour M15 candle - the RAT entry
I am sure I may be off the analysis but this is how I was watching it untill I lost connection.
That's exactly the way how it works
you will laugh now...i was short on GU after 11:45 candle(pinbar) and switched to long after i saw the 50% level of the 1h up candle holding with a rat trade...
That H1 was the first lead to wait. NO CLOSE HIGHER. If you have wickdolls above or below H1 candles they tell you something!!!.
If that happen just draw zerolines on the M15 candles. See if price fails for new high/lows etc. Compare the size of upgoing candles with down etc. You are so close to make it. Keep going
In the circle are fails to close higher. H1 fails to close higher