Agree on the bullish move - on the daily/weekly you can see a significant bullish flag - if the move is the same as the initial flag pole it should be circa 4200 pip move to the upside over the next 9 weeks to around 2250 area (lets see what the Biden government fiscal stimulus package is...)
The big institutions who cause the biggest moves aren't trading on the fifteen minute chart, they're merely using it as a filter to time their entries and to ride the coattails of the big institutions we obviously need to be trading in alignment with them, which we're unable to do if we're too zoomed in. ✌🏻
Don_Knowles
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@StewySongs, Completely depends on this guys trading style if it works for him it works for him, institutions only trade on weekly/monthly, he is trading 15.
CFDPROPTRADER
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@Don_Knowles, How could you place a trade on Weekly or monthly Time frame ? when you place a trade, you need lower TF for entry. it is not relevant whether institutions trade on weekly/monthly.
Don_Knowles
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@INFINITEK, Institutions decide the direction of the market, if you think they are not relevant you will loose more than you win or you will consistently loose out on high reward trades. Even scalpers are aware of the overall trend of a market. As for your question, most traders will never trade weekly or monthly as they do not have the sufficient capital to do so, we are talking banks trading billions of dollars on these timeframes.
Hey Dude,
01 I know that Market Makers decide which direction they are heading and they reverse the market.
02 I told you that you can not enter to a trade in Monthly / Weekly TF,
03 You think , you are the only one win the trading and making profits ?
04 I trade in M15 and carried my trade till Weekly Peak , So you have missed my point which is '' to enter to a trade , Lower TF is needed(except you ), That is why my idea is in M15. I hope you got my point. This is the bottom line.
You also may be trading in Week, Monthly Charts, that is up to you Mate !!!!
My Trade entry price is given on the spot anyway in Tradingview , have you published any idea with Entry price ? if you have given entry price, please share with me ?
TRADESBYZION
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Let’s go xau
CFDPROPTRADER
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@TRADESBYZION, looks like trapping retail traders again