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Currency Futures

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  #1050 (permalink)

Trading Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: AMP/CQG
Favorite Futures: ES, NQ, YM
trendisyourfriend's Avatar
Posts: 3,853 since Oct 2009
Thanks: 3,428 given, 4,872 received

I know your preference about your regular timeframe but was kind of surprise to see a trade of yours on a 60 minute chart. However, despite your explanations, i still did not get why your entry price is so close to the apex on the 60 min. How can an indicator trigger an entry at that price on such a slow timeframe ? So if you don't mind, i will reformulate my question, what were you looking at on the 60 min. chart that told you the timing was perfect to pull the trigger for a long at the price indicated just in front of the round number ?

monpere View Post
I am not a price action trader, I use indicators. I use only one chart to trade, no lower timeframe, no higher timeframe. The indicator on the chart identifies the entry, the way I've learned to read it. I also have 2 additional indicators to confirm my entries. That bar was the entry bar confirmed by all indicators. The entry for me is imperative, my aim is to enter on the bar that forms the apex of a reversal swing, as that offers me the best risk/reward. I start stalking and waiting for that entry from the beginning of the dashed lines drawn, where the divergence starts to form.

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