ImpLaNT wrote: ↑
Mon Mar 30, 2020 9:01 pm
The situation forced me to close the position for sale, opened in the morning at 21605 with a small profit. Profit is 96 points. Moreover, I ventured to open a position up. What was the logic of my actions ....
It can be seen from the picture that on the M5 timeframe all the favorable conditions for entering to buy were formed. The presence of a large green dot, indicating a possible end of the downward cycle, which is confirmed by the blue bar Extreme Spike indicator, we also see the rollback level satisfactory on the second wave - 76.4%. Let's pay attention to the double color change in the main window ... During the first wave, all indicators of the Xard's system changed color to blue, during the second correctional wave, again, everyone changed color to red. Further, we see that the price goes up from point 2. All Xard's indicators change color to blue, the histogram in the lower window also draws blue bars. All this in aggregate forms the conditions for entering the position up to M5 TF. Stop below the big green dot at 20800.
In this position, the thick red bar at the top is alarming, indicating that at this stage, sales are preferable to purchases. But we know that all zigzags are repaints, and this one is no exception. Hope I'm lucky in this moment. In fact, the situation is ambiguous. In view of this, today I will take advantage to close the position at the level of 61.8 ADR at 21990. Achieving this level will not exceed the global maximum, therefore, will not break the current alignment of global sales.
Good Evening Implant,
Thanks for the live trades and the commentary. Seriously, please keep making them.
Could you please shed some light on this:
Use of 15 Min TF & 5 Min TF:
When we look for entry conditions on 15 Min Time frames, we are also switching down to 5 Min time frame for further confirmation: Like to check if the
extreme spike indicator made a spike.
1. When we look at 15 Min TF for entry, we always look for 5 Min TF correct?
2. There are examples, where you are able to trade directly on 5 Min TF, so can one trade 5 Min TF as a standalone without referencing 15 Min TF?