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Pennies I didn't get in on that trade. I wish I was thought. I was just illustrating that the method works.
Yeah Pennies I used the method a while ago before I started experimenting.
Nice!! Enjoy
No Jav, I wasn't in that one
The down side is you may miss the lions share of trends while waiting on the channels. I'm not a wave counter by no means and if Pennies would no doubt correct me but you'd miss the wave 3 while waiting on either wave 2 or wave 4 to form. Pick your poison. Haha
Some guys here have mentioned consolidation channels so that's nothing new and the measurement of the channel tells you how far it's going to go. Once it hits the TP then I look for another setup on a different time frame or pair altogether. The sad part is once the breakout is confirmed all I had to do was jump in, set TP and walk away from the computer but I make things a lot harder than they need to be. Lol
There are indies for the box breakout strategy but those lines are hand drawn.
Same here. I think I'm obsessed. Hopefully I can move away from it
It's ok. I'm in small anyways anticipating the pullback
Yeah almost not worth watching now cause it's slow.
I'm in...again at .7520 Just waiting on the close
I'll jump back in after this 4hr candle closes. 7528 is a weekly support so I'll wait a bit to see if it can stay clear of that level.
Same here. It'll get better. I'm not worried
I saw it. Maybe I'm on the right side for a change. This week has been brutal
Good cause I was reading the same thing. It's sitting right under the 141. Plus I entered small
I'm currently short EU
Yep I'm already out
Finally got 55 pips on UJ long. Waiting on retrace as well.
Well that's my homework assignment for the weekend. I'll wait for the retrace then get back in since it's committed short now. I think 74 is still the target so I can still get some profit off it
I knew NU was waiting for me to get out. I held that thing for almost 2 days and within hrs after I get out it tanks.
Although I'm looking at the mobile but that last 4 hr candle looks like it broke for a new high. I'll wait or maybe even get a small long position. It's breaking through resistance.
Look like a bullish flag on NU 4 hr now. I'm out.
Thanks. I'm also seeing that after a period of consolidation the price usually travels the distance equal to the width of the channel when it breaks out one way or the other. That strategy had been profitable for me but I went away from that. I'm going back though
I know I'm guilty of over trading. I can catch a 50-100 pip move and in about 15 min I'm back in another trade. I know the brokers love me. Lol. I have moved more to the 4hr charts for drawing trendlines and fibs so that's helped slow me down a bit but it's just that timing on entries and exits sucks. I get input from the guys here because I've always been told that if you don't know something, then you surround yourself with people that do. I don't always trade what they trade. I have sometimes gone the opposite direction and have been right...briefly anyways. I admit that I do love indicators but have recently went to a naked chart with just the pitchforks and TDI. The median line theory seems to work for me and it appears to be the same as the COG with the exception of the expanding upper and lower lines which mimic Bollie Bands so I didn't even add that one. I'm still a work in progress but I appreciate your insight. Off to work for me. Thanks
Thanks Estimator. A simple strategy but I wish I could explain why I'm not doing it.
Interesting analogy Pennies. That's the first time I've heard that one but I'm still holding. It's finally looking promising
OK sounds good.