barjon
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Anything to please wasp ![Cool :cool: :cool:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
ok here's the plot. You work with a trading decision time frame, but consult a higher time frame for significant s/r levels etc and a lowertime frame for fine-tuning entries and exits.
You've been reading trader dante's thread and spot an interesting hammer appearing on your higher time frame chart which has terminated at fib50% of the whole up move (chart 1 - last candle). At this time your trading time frame and lower time frame charts look like charts 2 and 3 (the horizontal red being the high of the hammer).
At this stage you might ask yourself if you are considering a trade. If so, what's your plan of campaign, when and at what level are you going to enter and where is your stop going to be?
That, however, is not the main point of this particular wot? so read on................
ok here's the plot. You work with a trading decision time frame, but consult a higher time frame for significant s/r levels etc and a lowertime frame for fine-tuning entries and exits.
You've been reading trader dante's thread and spot an interesting hammer appearing on your higher time frame chart which has terminated at fib50% of the whole up move (chart 1 - last candle). At this time your trading time frame and lower time frame charts look like charts 2 and 3 (the horizontal red being the high of the hammer).
At this stage you might ask yourself if you are considering a trade. If so, what's your plan of campaign, when and at what level are you going to enter and where is your stop going to be?
That, however, is not the main point of this particular wot? so read on................