MidnightRun
Sergeant
- Messages
- 186
Hi Damian!
I see that you are becoming a serious trader by the day and I really appreciate your posts.
I think I have some of your problems too. I started to take a different approach. In your 15M example trade you acted in anticipation of the price action.
After really listening to Sive lessons, I began entering trades following the price action and not anticipating it. In your example there was no noticeable bearish price action, I mean no thrust to the down side, just slow movement. Yes, the trend on 15M was down but this is of less importance than the price itself. Of course it will bring not such a good entering point but I am sure that overall profit is far better, from my recent experience.
Another thing in your example is that, in fact, the more noticeable price action on 15M was to the upside. Take a look that price went to 61.8 directly, more quickly than the prior slow move down.
Just one more thing I noticed is that Daily trading that Sive is using is not by chance. One day trading is truly relevant and you can make an ideea of what is going on. 15M is never relevant per se, just in combination with other bigger time frame analysis. In your example, only a strong reaction on 4H or 1H chart could give you the idea that the market is responding to the resistance zone.
Just sharing my recent experiences.
Good trading to you all!
Pragmatic, unfortunately no image.