Intraday FX Player

THOUGHT FOR THE DAY: TRADING TIME IN PTV
Yesterday worked out to be an interesting day because I began the day explaining how indicators lead PA and how they qualify PA. Then we had a days trading that was a perfect teaching exercise to prove the point and at the close of the day I found myself answering questions about time (T).

It’s a good thing to realise what the charts we use emphasise so we get the best out of them. For e.g. P&F is Price and it disregards TV in the PTV trade. But the charts we look at in CF’s thread emphasise Time, not Price. If the market rose 100 pips and fell back 80 pips in one minute or just sat there with a 2-pip range in one minute, Time dictates how the bar looks, not Price.

That’s why I clock watch when I get a signal, because I know most traders use bar closes to exit and enter. So our chart is saying, time your trade with price. We use the PT subset of PTV. Let’s not forget it emphasises Time, not price.

In our type of trading T is king, not PA as is touted in ET threads. As you become more aware of time you will be able to stay in a trade until it suits you. Learning to use Time in multiple TF’s means more than rolling TF’s… yesterday was about Time divergence. Think about that. It was more than Price divergence when we called the 1 Hr up – it was running out of time because the 4 Hr was badly in need of a down move.

When the move down began everyone was thinking Price… yet our charts emphasised Time. Looking after Time filled the ATM… coz that’s the way it works

 

HLOC & Mid = 5

Time is taken care of in each TF.

 

Gameplan is looking the following:

On 4H we're near bottom of the channel which is looking as a retracement flag on daily and higher and bottom TL was tested many times.

Also we're in the same thing on 1H inside it.

What makes me think we can well break down from first hourly and then 4H flag and then USD will rally strongly...

 

Have found the following charting very good... Don't know why to pay for PRT after trying this one...

http://www.dailyfx.com/charts/ChartStation.html

 

Yeah, I know that one, but it doesn't work under Linux...

 

We bounced off the strong TL nicely... Maybe it was the "if" case I didn't mention on my gameplan...

 

;(
I keep windows box for such things.
I like that it programmable (I am way better in programming than in trading

 

I don't program anything so for me simple charts with decent trendlines and CCI are way enough.

 

Half an hour is looking like going to sell off...

So I have shorted.

 

Stopped out @ b/e.... Also if goes higher it's likely to continue up and not go down...