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  1. #11
    Active Member Johnreid888's Avatar
    Another 10 minute trade taken on AUD/USD, I drew a rectangle when I noticed quite a stromg resistance on the 1 minute chart and saw that the stochastic was oversold, also 15 and 30 minute macd was still on downtrend..
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    Looks Like a Winner although I think looking at the previous high to low, 5 mins would have been a safer option,

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    Last edited by Johnreid888; 04-07-2017 at 01:55 PM. Reason: Trade Expired

  2. #12
    Active Member Johnreid888's Avatar
    OK so over the weekend ive been watching some videos by Okane on support and resistance and entries, so as I got into the library at 9:30 ish I noticed an uptrend on GBP/JPY so decided to do a quick trade.

    I tried to do the entry as soon as the previous candle touched the trend line but it went down and up so fast that I missed it and thought I would wait for the next candle which started to go up so I entered the trade for 10 minutes.

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    Last edited by Johnreid888; 04-10-2017 at 09:19 AM.

  3. #13
    Master Member Okane's Avatar
    Hey.
    Seems you are missing lots of details on the chart.
    Did you only use the M1 charts?

    BTW, in the future please provide at least a higher TF chart as well cause finding your entry on my chart based on M1 is really finding a needle in a haystack.

    Anyway, there are some rules I follow you can't just jump in for a call on every trendline. In this case, a target resistance was already reached and sellers entered the market.

    If you watch the hourly timeframe you will see that you entered a trade on the worse possible place, right when it just broke a support line (became resistance)
    So you pretty much did the opposite of what should have been done.
    OptionHeimer: I am become debt, destroyer of accounts!

  4. #14
    Active Member Johnreid888's Avatar
    ok, thanks Okane, so I need to confirm on at on 2 other timeframes what the trend is doing (1hr and 30 mins), also ill post these 2 charts in future.

  5. #15
    Master Member Okane's Avatar
    Quote Originally Posted by Johnreid888 View Post
    ok, thanks Okane, so I need to confirm on at on 2 other timeframes what the trend is doing (1hr and 30 mins), also ill post these 2 charts in future.
    Not always, if you know what you are doing even one TF is good. Most of my trades are taken based on M5 but that's because
    I already have placed my strong targets so I know what I am "aiming for". Sometimes however, a trendline is easier to place on another
    timeframe than the one you are watching and a change of view/TF can give you a more accurate target. Anyway these are the more specific details
    I teach in my group.
    OptionHeimer: I am become debt, destroyer of accounts!

  6. #16
    Active Member Johnreid888's Avatar
    ok so start by drawing S+R on higher time frames then come down to tighten up, also when creating trend line check on higher timeframes to do the same. Thanks again.PS I'll be joining your Skyp group when I get internet access at home.

  7. #17
    Solid Member Ingmar's Avatar
    You should definately join John, we're not only learning from eachother but also having fun joking around :-)

    See you in the group soon then o/

  8. #18
    Legendry Member willyw's Avatar
    Quote Originally Posted by Ingmar View Post
    You should definately join John, we're not only learning from eachother but also having fun joking around :-)

    See you in the group soon then o/
    What skype group is that? Is it Our BOTS skype group???

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