WARNING
When price breaks through yesterday's high or low, that's a breakout!
Trade the change with caution.
Notice Bars 7, 8, 6 and 5 in preceding chart.
Price broke open yesterday's high.
BE 1 preserved losses.
WARNING
When price breaks through yesterday's high or low, that's a breakout!
Trade the change with caution.
Notice Bars 7, 8, 6 and 5 in preceding chart.
Price broke open yesterday's high.
BE 1 preserved losses.
Yes.Originally Posted by ;
But I'm not permitted to post the indiors.
Indiors are not vital to get this done.
In fact, it is far better to learn without using the indiors since you will be engaged in the procedure.
This can train your eyes to see that the highest/lowest open.
Place your lines .
So to set a trade you utilize chart and if candle closes above 1h lowest open you enter into a trade? In case of buy trade.
And one more question. Can you exchange only session because it tends to revers intraday trend?
So to place a trade you utilize chart and when 5m candle closes lowest open you enter a trade? In case of buy trade.
No, I usually Examine the H1 bar chart and look at the time around the clock. I am able to see what time it is.
At X:05 price over the highest open way I will short when price comes back down.
Or at X:06
Or at X:11
Etc.. .
The M5 candle chart I showed with the H1 background was for instructional purposes.
That chart is too much, too distracting, for me to exchange.
And one more question. Can you exchange just NY session because it tends to revers intraday trend?
I exchange the NY session because I live in the USA.
The news around 8:30 offers volatility.
Thank you for your questions.
,
that the only problem I see is we don't understand which H1 candle is going to be the high/low of the day even if the current candle is your highest/lowest of this day up to now.
H1 candles following the current candle might proceed even higher/lower???
Originally Posted by ;
Yes.
However one needs to be careful of price action.
Many times the candle will go back into the open price and rebound.
Other times it'll pass through. View bar 16.
Thanks to this query.
No difficulty in any way, yonnie.Originally Posted by ;
You're correct, we do not know what will be the high/low of the day before the day is over.
But, the current high/low of the day has the capacity to be the high/low of the day.
That is exactly why this trade works and one must utilize stops.
Look in the charts published.
Are the trades apparent?
Hi Birdland,Originally Posted by ;
Do u mind sharing ur template pls? I've been trying entire morning, but I could not place the descriptions into the far right separate fr the price levels like urs.
Thank you beforehand.
Val
sure, here it is! Hope its functioning because I will not be very gifted in this computer team...Originally Posted by ;
https://www.forexforum.co.za/attachm...7747871988.tpl