HannesJoubert » Fri Feb 07, 2014 12:43 pm wrote:Okay, I'm trying here, so please deliver your comments, and if I have it wrong, please deliver them within an hour so that I can cancel the pendings
Attached are two charts (GU), one daily, one 15m of the trade that I have taken in anticipation (yes, entry may be a bit late). I have taken this trade and placed the pendings based on the fact that we have NFP today, and the tracks left by the Fox as I see them on the charts attached.
What you think? Correct or incorrect, correct interpretation & foolish to take the trades? Or just plane scary?
Just take note that it took me the whole morning of looking at PA on the 15m and then flipping back to the D1 to see. I kept getting differing ideas (long or short), but then I realised that I can go long in the midst of a down trend (i.e. counter trend). I think that the reason it took me so long is that I do not really have confidence in reading the charts yet...
So, fire away, and lets hope that I manage to get something out of the markets today, and that it's not a hiding..
Other than that, enjoy your weekend...
H
Hello Hannes,
If you Went Long/Bought on The G/U then you were Right on the Long Run up until Today's Close of the Markets, I had been Buying and Selling that Currency Pair on a small scale with tiny lots ( I like to Start Small and Build up my Account) taking the Odd 50 pips at a Go whilst eye balling the Pins at the Low and High on the M15 Time frame from Wednesday the 5th of Feb until yesterday Friday 7th of Feb when I just let the Trades Ride in the Direction of the Up trend.. I closed out all Positions in Profit Except One Trade towards the End of the Trading Day. I like to be Flat on Friday and Watch from the Sidelines at the Beginning of the Week thus letting the Fox Show me it's Tracks before I Do any more Trades in whatever the Direction I feel the Trend is Flowing.
With Time and Practice you will get used to Seeing things more Clearly very soon, it takes quite a bit of Chart Time but it's Nothing that you can't Master.
Hope a lot of Folks got some Joy out of Snagging the FOX on the GBP/USD uptrend yesterday....
Y'all Have a Cool Weekend,
xrismak
!