2009.04.02 RULE OF THUMB STILL IN EFFECT

[TheRumpledOne]

The higher the number the stronger the support or resistance.

[bredin]

ALWAYS TRADE WITH THE H1 CANDLE COLOR - NEVER TRADE AGAINST THE H1 CANDLE COLOR.

The bias tells you which way to trade to be trading with the H1 candle color.

Thanks TRO for the kind explanation...

But, when I trade using 15MTF, the direction that I opened the trade is always against the direction in 1H TF. For example, at the 15MTF says it's time to Sell, but at the 1H TF say is H1 Bias : Long...and most of the time I win the trade... So for this case..which direction are you recommend...1HTF or 15MTF...?! FYI, I'm using your "Never Loss Again" system in this method...

Thanks for your kind clarification.

Cheers

Sahars

This also confuses me as it seems that any M15 breakout will be in the direction of the H1 candle, and almost any M15 retracement will be against the H1...

can anyone show me when this breaks down or am i missing something very basic and simple (again)

Cheers
G

[TheRumpledOne]

If you follow the rule of thumb, then it will cut down on the number of trades that you make. When you trade, you'll be trading with the current H1 candle and that's very profitable.

[winny]

NO MERCY !
hehe

[noone22]

When you trade, you'll be trading with the current H1 candle and that's very profitable

Not always true.
For example, you could go long with H1 candle been green - all according to the rules and market bias.
But suddenly M15 and H1 candles alltogether could become red, trend reversed to downtrend - but I'm already in the long trade & trading against the market.
With small stop-loss it is usually hit before trend reversed to uptrend again.
Increasing stop-loss usually makes disaster loss.

And such thing is happenning more often at the begining of the hour (less than 15 minutes), when M15 and H1 candles are virtually the same and H1 hasn't its own established history.

[TheRumpledOne]

For the first 15 minutes of the hour M15 and H1 ARE THE EXACT SAME COLOR!!

THIS IS TRADING - ANYTHING CAN HAPPEN!!