It's not hard to guess you are from Poland because of your nick
Averaging methods have their advantages and disadvantages, but I like method from this topic.
Good luck and I hope, you do not leave this thread and I could learn a lot from it
Maybe some day I will be pro like you and open journal too
Ps. Beautiful trade
thanks mate I appreciate your kind words
So far no new patterns to trade. The GBPUSD trade has given me some nice profit, but nothing more appeared after that. There is a lot of truth in saying, that trading is a waiting game. Until higher timeframes wouldn't show me a good location to go short or long, I won't seek for any kind of additional entries.
Waiting is sometime the best what we can do
Could you paste picture, how you see location in higher TF?
Location is my achilles heel
Last edited by xspojlerx; 04-25-2014 at 11:08 AM.
Sure, without giving my whole strategy away, I can point you a few things that are worth taking into consideration.
If you take a look at H1 TF, right before the pattern there is a very strong move donward. Then market makes a second bottom, which looks very good for me to enter long.
On H4 you have a 2 demand levels, and if you take a look, market has moved down in a pretty strong fassion, and ALSO made antother pattern. + you have a trend line too. Pretty enough reasons for me
I also use some other "indicator-based" method to determine a proper market location, but I will keep it for myself for time being
Wow I thought you paste some elliot wave, but you surprised me. I'm impressed by your post Many thanks for your post
Before I thought good location mean 3 or 5 wave, now I know that it is not only that