normannasty wrote: Wed Mar 11, 2020 6:48 pm
Its happened again. Please see my picture.
What I made wrong?
I have finished trading for today, so, in addition to the valuable comments from jgxpro:
It seems you have little experience in trading and are blindly trading indicators (semafors and dots) without understanding Market Infrastructure and Basics.
It also seems you didn't read or understand my Post 1717 where I wrote:
""its all about trading the smaller cycles within the larger cycles - see H4, H1 and M5 cycles/trends on my Post 1705""
""We are trading UP from the H4 BOTTOM - so we trade the H1, M30, M15 and M5 cycles/trends WITHIN the larger H4 cycle. The smaller cycles will cycle up and down within the larger H4 cycle UNTIL the H4 cycle top is in.""
So, back to your AUDNZD M15 trade:
Had I traded your M15 chart, the first thing I would have seen would be the
RED TREND MA going down to the bottom right corner telling me the trend is
DOWN and only to look for
SELL signals!
In addition, XARD has already told you this with the
RED DOWNTREND comment in the bottom left corner! Not only that but the comment at the upper left corner said ""
SELLS ONLY""!
So, at this point you
IGNORED what the chart was telling you and just went off the next dot you saw and traded up
AGAINST a
STRONG DOWN TREND! This is just like standing in front of 6 lanes of 18 wheel trucks on the freeway hurling at you at 100km/h!
Not only that but you traded up into
STRONG RESISTANCE meaning the very best you could get on this would be 14 pips!
Had you checked H1, you would NOT have a 2nd dot and instead would
SEE the
RED RIVER flowing
DOWN! Again, the comments were
DOWN TREND and
SELLS ONLY!
Had you checked H4, you would still
SEE the
RED RIVER flowing
DOWN from a H1 semafor
TOP! Again, the comments were
DOWN TREND and
SELLS ONLY!
From a pure cycles point of view, you can clearly
SEE you were fighting H4 & H1
DOWN Trends!
I could go on but...................................
