That's a good catch, benjamin89, I didn't see that one. I find resistance levels frustrating - so I just consider yesterday's high/low, round numbers and very obvious levels one or two time frames up. Otherwise I feel overwhelmed and wouldn't ever ...

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Yes, the time of day did concern me but I liked the set-up. Your suggestion about dropping down a time frame makes the most of the situation but I think I'm going to stick with trading my pairs when they're in session - just simpler and safer.

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Hi, I found a really nice set-up and breakout on the AudUsd H1. Price started off very strong but then faded - it just didn't have the legs to go the distance. Anyway, I was able to move my stoploss to breakeven (plus one pip) so no damage was done. ...

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Nicely done! Three for three...

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Thanks for sharing the dashboard, Inthebox. I set it up and used it for this morning's NY am session. What can I say? It's my first winning trade in a long time! I think I'm going to enjoy trading again - I really appreciate your input, Inthebox. ...

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Thanks for the reply, Inthebox. Yes, I now see that by using the htf as a filter I could have seen that the entry I took was a weak one. Well, I can use that information going forward to select stronger entries.

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Thanks for the suggestion, Inthebox. I'll add that to my list of entry conditions. When does the number of waves 'reset' and begin again at zero? When the MAs cross over?

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Hi, I took a full loss on a UsdCad M15 trade that I took today at the opening of the NY session. I had support from the H4, H1 and M5 charts - all of the CCIs were below -100. The bearish move started out strong but decided to head north - I didn't ...

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I always appreciate well-informed advice! Thanks, I'll consider my lower time frame as well when I consider entering a trade. It might even be worthwhile to enter on the ltf as the s/l is smaller.

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Hi, UsdJpy M15 - During the first half of the NY am session price broke out and the htf supported the entry. Price came within a fraction of a pip (literally) and then reversed. I had moved my stoploss to breakeven by then and was taken out. I'll ...

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Hi, I'm looking at a set-up here that I think might be promising. On the D1 chart UsdCad is coming down from a double top and appears to be testing the 1.3300 level. If it does break through then it has 100 pips before it reaches the lower trendline ...

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That's very clear. Thanks, Inthebox!

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So for a retracement entry we don't enter when price crosses the breakout level on the htf but wait for price to re-test the level then take the trade on the ltf if price continues in the direction of the breakout. So for a breakout entry we DO ...

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Do you think it is worth watching as a 4-hour trade? I mean assuming that it still has D1 agreement. If the H4 gives a signal is it worth going down to H1 for the entry? Or is this strictly an M15 strategy?

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Hi, The trade definitely went in my direction - again evidence that the method is sound. But price didn't have quite the force to go the distance. Fortunately I had moved my stoploss one pip above my stoploss when price had passed the 50% level so ...

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I saw that and that was actually my target. But I never made it...

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Hi, Okay, CCI below -100 on M15, H1 and H4. And the 14SMA is below the 100SMA on all three time frames - which I believe is the same information. There was a very definite breakout below yesterday's daily low so I took a position with a twelve pip ...

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I agree with you one hundred percent that a good understanding of trading psychology is necessary. As Whatever pointed out we don't have to be in a trade as there will always be another - and probably better - opportunity just around the corner.

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Thanks, Inthebox, for the suggestion! There are times that I knew that the pair I was looking at weren't really moving but I traded them anyway - this has always been a problem for me. I'm hoping that I can avoid doing that as often with your ...

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The UsdJpy finally broke out and - pretty late in the NY am session - I re-entered the trade. Oh well, it looked good at the time. But this time I had moved my stoploss to 50% so it all ended better than it could have.

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