On both above charts the first sign gives you direction. Now you to read the trend in the H4 trend. Doing that i use the H1 as basic chart.
In this picture you can see a lot of information the first entry was given by the H4 zero. Use the lines of previous run up as targets. When you start trading this way use always the first target you can see to exit full or a part of your position. Search for new entry's to the next target and so on untill you see the next sign from reversal on H1. While doing that mark your new lines on the run down because you need them running up. Those line are not drawn otherwise you want understand anything of it. There is some dutch text in the picture lol. if you don't understand it ask for translation or try to translate yourself.
I hope you guys do understand the importance of using multiple tmf's! Mo sees it a lot bigger then i do but that's everybodys choice of working yourself to the direction you want!
Thanks for the explaination it shows how different people are successfully using the concepts that MO presented.
I just started using the 1H and the 5 min as I was going back through the thread and was reading a post by MO that I missed the first time through. I have been struggling with when and how to enter.
dragon33 wrote:On both above charts the first sign gives you direction. Now you to read the trend in the H4 trend. Doing that i use the H1 as basic chart.
In this picture you can see a lot of information the first entry was given by the H4 zero. Use the lines of previous run up as targets. When you start trading this way use always the first target you can see to exit full or a part of your position. Search for new entry's to the next target and so on untill you see the next sign from reversal on H1. While doing that mark your new lines on the run down because you need them running up. Those line are not drawn otherwise you want understand anything of it. There is some dutch text in the picture lol. if you don't understand it ask for translation or try to translate yourself.
I hope you guys do understand the importance of using multiple tmf's! Mo sees it a lot bigger then i do but that's everybodys choice of working yourself to the direction you want!
It was a good explanation Dragon, thanks.
I was wondering how did you change the calendar anouncements position? Ive tried to do so but the shift code does nothing (at least on the version I have), and my programing skills are not that good to amend the code.
I think you will help our understand of this concept. At the moment I find myself entering trades to early. ie On your 1st chart of the last page (G/U H4) where you "look for the first sign of a reversal",
I saw that on the 10th bar from the left of chart. This has me stopped out before price moved as per your targets.
I notice you draw your target lines different to others. Both ways seem to work very well when you know what you are doing.
dragon33 wrote:On both above charts the first sign gives you direction. Now you to read the trend in the H4 trend. Doing that i use the H1 as basic chart.
In this picture you can see a lot of information the first entry was given by the H4 zero. Use the lines of previous run up as targets. When you start trading this way use always the first target you can see to exit full or a part of your position. Search for new entry's to the next target and so on untill you see the next sign from reversal on H1. While doing that mark your new lines on the run down because you need them running up. Those line are not drawn otherwise you want understand anything of it. There is some dutch text in the picture lol. if you don't understand it ask for translation or try to translate yourself.
I hope you guys do understand the importance of using multiple tmf's! Mo sees it a lot bigger then i do but that's everybodys choice of working yourself to the direction you want!
It was a good explanation Dragon, thanks.
I was wondering how did you change the calendar anouncements position? Ive tried to do so but the shift code does nothing (at least on the version I have), and my programing skills are not that good to amend the code.
Here is a screenshot of what you need to change. What is in the black circle is what you are looking for!
Thanks for the explaination it shows how different people are successfully using the concepts that MO presented.
I just started using the 1H and the 5 min as I was going back through the thread and was reading a post by MO that I missed the first time through. I have been struggling with when and how to enter.
Good trading Rich
H1 should be your basic chart. There are pips to grab, anything less then M15 is too small. Sometimes the first sign of a reversal is seen on the M15 but mostly it is very clear on the H1. Yes you need more patience but the reward is much bigger! That's the reason for the higher tmf's. The smaller you go the more difficult it would be.
