nonibadsha wrote:IgazI wrote:nonibadsha wrote:I feel like an idiot
Why can't I do it?
If you make trading easy then it is easy.
If you make trading difficult then it is not so easy. - turn your intraday chart into a line chart:
if you want a range then look at your daily chart
- be guided by the HLC of the daily chart
- minimize your risk: your initial trade size should be 1/4 to 1/3 your standard size.
- maximize your reward: trade larger, risking only the pips you have gained from closed trades.
- only take trades with the intention of holding it across the daily ranges.
Or, as I like to say, "TAKE YOUR RETAIL TRADER A++ TO THE DAILY CHART WHERE YOU BELONG"
Ok.. Lets try again
Here is a 5 minute EURJPY line chart with the daily overlay. There is no option, to only show the HLC of the imposed TF, but we can clearly see the HLC of the current day, and the 2 previous days. Until its possible, I (we) can ignore the daily open price.
EURJPYM5.png
Now what?
Sorry to be so blunt.. But kinda desperate now
I'm wary of giving advice as I am still learning but maybe this might get you started perhaps, apologies if posting out of turn on Igazis thread.
#1: Identify midpoint of previous day and note that the middle day opens above midpoint of prev day, so draw an up line (#2), so looking for bullish entries above the line
Note the level at number 4 coming across from left and there is a small pullback just under 4 at right would be a good entry.
Note how price came all the way down to #5 to retest the area below 4, still kind of sitting above the UP line, lets go long here perhaps.
Level # 6 could help you do a long on the pullback.
#3 is the midpoint of that day for drawing your Up / Down line for the day on the right.
Get used to seeing breakouts and retests, Zline areas, mighty zones, imbalance zones.
Learn to take profit, while typing this I was up $30,then -$60, now up $60 so I might cash in now as my target is done.
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