Day Trading Master Class

[andydoc]

Sorry - I am being inordinately thick - please forgive me and tell me if this is correct?
So on the reversal we are talking about:
Clearly CCI divergence is a warning, as is the Stochs cross below 15.
The exit is confirmed when the trendline is breached on the high of the 17:00 candle or the close of the 18:00?
The entry is confirmed on the close above the resistance established by the 16:00 candle?

And do these figures generally apply to all hourly charts or only Cable?

 

[TEAMTRADER]

andydoc

The exit of the short would be at 1800hrs.
The entry of the long would be at 2100hrs.
You never know how the candle finishes (generally speaking but sometimes it is very obvious) until it finishes.
This 1hr setting is standard to all charts.
Are you in the UK?

 

[andydoc]

Yep - in Birmingham
So the exit is on the close of the 17:00 or the close of the 18:00? 17:00 because the high was above the trend line or 18:00 because the close was above the trendline or 18:00 because 17:00 was an inside bar and needed confirmation of the breach?
Then the entry at 21:00 ? close of 20:00 because close above EMA6 or close of 21:00 becasue close above EMA9

 

[TEAMTRADER]

B'ham

I'm in Telford - are you trading for a living?
The exit would be the close of 1800/ beginning of next candle. Reason - it is never clear until the candle is closed. BUT you are 100% right that it would have been a late close and MORE profit could have been gained by early exit. I'm impressed!!
The entry at 2100 is the close at 2000, open at 2100 but has nothing to do with the ema's. The indictors below the line are a major factor.

 

[andydoc]

No, are you? I did turn £3000 into £30000 in 4 months 6 years ago, but greed ensued and I lost half of it on an arrogant trade in 4 hours or so; then my daytime job as a GP got busier and I couldn't cope with having the laptop with dial up GSM on all the time - on the passenger seat, etc.
Now I am just getting back into it - CMC on the mobile, signals on the mobile, charts whenever I have a land connection - most of the time.

 

[TEAMTRADER]

Private

You have private message Andy.

 

[andydoc]

Sorry mate - wasn't ignoring you - had a problem with log-in, and in any event I have not posted enough yet to get a private message! I will now go on a posting spree - which I will try and keep relevent, in order to retrieve it!

 

[andydoc]

Just realised - if you go to my public profile you can send me an email!

 

[TEAMTRADER]

secret forex

the email is in your secret forex society account

 

[andydoc]

Until I post 30 posts I can not retrieve it - but if you go to my public profile you can send me an email off the web page