You are right - it is all about getting a 'feel'. Think about it another way. Put a normal candle chart on your screen. See the zigzag place its mark. Now, if you are going long, look at the candle which makes the swing south. Wait until a candle ...

Price Action Trading with Indicators! The Freebie System

Its just a 5 figure quote, not a six figure. Doesn't really matter, I can work it okay.

Price Action Trading with Indicators! The Freebie System

Nope. My broker is a UK spreadbetting company. Those numbers are right.

Price Action Trading with Indicators! The Freebie System

Thanks. Sorry for not specifying - I just used them as illustrations. However the charts are EU M5.

Price Action Trading with Indicators! The Freebie System

To illustrate my question above I attach two charts. The first one shows, via the black arrows, the type of candle I mean. It has no upper wick in a down trend and shows momentum to carry on down. The second, is one illustration from yesterday's ...

Price Action Trading with Indicators! The Freebie System

Hi A question re the HA candles. Does your success rate improve by waiting for the HA to show a candle with no higher wick (for shorts) or lower wick (for longs). ie you pass on trades with wicks either side, even if they have changed colour?

Price Action Trading with Indicators! The Freebie System

Didn't take it because entry candle was too big - about 20 pips.

Psych Levels, Pivots, and Trendlines - Resurrected

V - sorry - realise you were looking at a long, not a short.

Psych Levels, Pivots, and Trendlines - Resurrected

It fascinates me that despite using many different methods of entry - engulfing patterns at a level, lower highs/higher lows, trendline breaks etc, how entries tend to be made at exactly the same points! Vantage - can't see how your GU trade would ...

Psych Levels, Pivots, and Trendlines - Resurrected

I'm pretty sure ratty's a he. Maybe a reincarnation of Anna....?

EURUSD

Ian and V Thanks. That is a really useful observation. Just out of interest have you looked at trading gold or crude using your system trades? It looks as if it will work well, and may give a useful alternative for days when forex is sideways. Also, ...

Higher low, lower high system

Hi Ian Do you have time to explain a 15/85 trade? Thanks!

Higher low, lower high system

Hi Vantage Thanks for your comments. The reason why I now wait for a M5 close above/below the H1 close, is that it seems to reduce whipsaws. I may just be being cautious, but it seems to work. Have a great day!

Higher low, lower high system

So, I hope this makes sense... I am posting an hour chart and a M5 chart. The blue line represents the close if the H1 Candle. So when the M5 chart shows a pullback then closes above/below the the cloes of the H1 candle, then you join at the break ...

Higher low, lower high system

[quote=eyevoltage;4838628]Well, I would, but I'm so busy keeping others on the straight and narrow...you know how it is!! Fair point! Can't deprive others of your words of wisdom! How's Cumbria? Have you avoided this rain?

Psych Levels, Pivots, and Trendlines - Resurrected

Musashi and EV Some great trading knowledge from you both this morning. I think, EV - you are right. It is best to choose one method ie trade breakouts or wait for retrace etc and accept that you are not going to catch every move.

Psych Levels, Pivots, and Trendlines - Resurrected

Thanks! So, unless the M15 is showing an obvious reversal candle, you will (if all things are equal) take the trade? Which Mel Gibson film were you sleeping at?!

Psych Levels, Pivots, and Trendlines - Resurrected

Yep - nail on the head again! Do you fancy a part time job as my trading psychologist?! The MTF bit is tricky - I need to keep working on this to decide how much weight to give it.

Psych Levels, Pivots, and Trendlines - Resurrected

Cool! Wasn't trying to be smart! Promise!

Higher low, lower high system

Without being wise after the event - why not put your stop above the last swing high?

Higher low, lower high system