Hi guys,

I opened this trade on Gold because of the red dot below the open line. However, price reversed and hit my SL. Can anyone show me what I did wrong here?

Thanks in advance.

gamerredd wrote: Wed May 12, 2021 5:00 pm Hi guys,

I opened this trade on Gold because of the red dot below the open line. However, price reversed and hit my SL. Can anyone show me what I did wrong here?

Thanks in advance.

Xard kept repeating it. Here is the important rule.
viewtopic.php?p=1295434648#p1295434648
viewtopic.php?p=1295434699#p1295434699
And one more thing: there is never 100%, but if you have at least 60% winners, then you are on the sunny side.
Skyold

Skyold wrote: Wed May 12, 2021 5:10 pm Xard kept repeating it. Here is the important rule.
viewtopic.php?p=1295434648#p1295434648
viewtopic.php?p=1295434699#p1295434699
And one more thing: there is never 100%, but if you have at least 60% winners, then you are on the sunny side.
Skyold

any example for follow the roadmap in higher TF and enter in the lower TF
I will be very appreciated

oneking wrote: Wed May 12, 2021 5:31 pm any example for follow the roadmap in higher TF and enter in the lower TF
I will be very appreciated

When you want to take a trade off a dot, wait for the triangle to appear to confirm the dot or go to the next lower timeframe, and wait for the triangle and the cross over (ie when price crosses both MA's and turns orange or green), then take entry.

For example, how I trade: if a green dot appears in M15, I goto M5, and wait for a triangle to form and price to cross all MA's and turn green, then I take my trade.

Skyold wrote: Wed May 12, 2021 5:10 pm Xard kept repeating it. Here is the important rule.
viewtopic.php?p=1295434648#p1295434648
viewtopic.php?p=1295434699#p1295434699
And one more thing: there is never 100%, but if you have at least 60% winners, then you are on the sunny side.
Skyold

Thanks Skyold for the assistance, much appreciated.

maroka wrote: Wed May 12, 2021 5:37 pm When you want to take a trade off a dot, wait for the triangle to appear to confirm the dot or go to the next lower timeframe, and wait for the triangle and the cross over (ie when price crosses both MA's and turns orange or green), then take entry.

For example, how I trade: if a green dot appears in M15, I goto M5, and wait for a triangle to form and price to cross all MA's and turn green, then I take my trade.

Same concept works on M5 and M1.. it may not work All the time, but you'll get a really really high win rate.

XAUUSD screenshot

gamerredd wrote: Wed May 12, 2021 5:00 pm Hi guys,

I opened this trade on Gold because of the red dot below the open line. However, price reversed and hit my SL. Can anyone show me what I did wrong here?

Thanks in advance.

Hi gamerredd,

You always have to check which was the last big semafor before deciding to enter a long or a short. There was a big blue semafor on the M5 TF on gold at 16:25 (my time) . That means that you can only trade long position from that point on. I guess you were looking at a higher TF to understand the direction, but that serves you only as a road map. The overall trend is still bullish so keep that in mind too. I suggest you to write somewhere like on the sticky note App, a check list before entering a trade that follows your own rules.

Have a good day,

LNS

LorenzoNexus wrote: Wed May 12, 2021 7:32 pm Hi gamerredd,

You always have to check which was the last big semafor before deciding to enter a long or a short. There was a big blue semafor on the M5 TF on gold at 16:25 (my time) . That means that you can only trade long position from that point on. I guess you were looking at a higher TF to understand the direction, but that serves you only as a road map. The overall trend is still bullish so keep that in mind too. I suggest you to write somewhere like on the sticky note App, a check list before entering a trade that follows your own rules.

Have a good day,

LNS

dis is a very good post..............

LorenzoNexus wrote: Wed May 12, 2021 9:24 am does anyone know how to fix this?

The breakout indy is bigger then normal for some weird reason. It is happening only on CH...

No data-feed at that time !

Waiting. Where will the indexes go?
08:30 USD CPI (MoM) (Apr)
08:30 USD CPI (YoY) (Apr)