Otto's trade 200 pips profit.

[FibMaster]

Here is an update sent to subscribers today. Watch this video to see how Otto used my DailyForexCharts update to extract a 200 pip move out of the FOREX markets.

For only $9.95 you can get these updates for two weeks, why not give it a try? You're paying more than that in spreads on a couple of trades!
http://www.dailyforexcharts.com/

Congratulations to Otto for a great trade! Excellent technique, & perfect entry; http://tinyurl.com/6ymf6z

Do you want to learn how to trade like this?

Download these video seminars, learn the easy way;
http://www.traderzine.com/cgi-bin/redir.cgi?url=fibm

Join my on-line live trading workshop/chat here;
http://www.fibmarkets.com/training-workshops/seminar-schedule/

-Neal.

[Hussam]

Hi Neal,
Firstly, well done Otto & well done Neal. I have this question: when trading intra-day, 30 0r 5 minute charts, we need the 4 hour TRSI (trend) on our side regardless where the daily TRSI is pointing, Is that correct ?? I was looking at similar trade, same time, with GBP/CHF. The weekly and daily TRSI (fast & slow) were still pointing upwards. The 30 minute TRSI crossed down around 6:30 a.m. GMT. I did not take the trade as I did not want to go against main trend, and missed almost 300 pips. Had I taken the 4 hour chart for the trend, I would have been there (the same would have happened with MACD & Stochastic).Your guidance will be greatly appreciated because I do have a serious issue with multi-timeframes. :confused::confused: Thanks & good luck to everybody.
Hussam.

[FibMaster]

Hussam,

We can't expect all the trends from all the time-frames to be in line. There are always conflicting trends, in some time-frames somewhere, if you look hard enough... Waiting for all of them to align is not practical.

Generally, we want the next-higher time-frame trend in our favor. Better if it's a strong trend, with momentum..

If the chart starts moving with any speed, the next higher trend will be in your favour. Do your Fibonacci studies, enter on retracements. Rinse and repeat..


-Neal.

[Hussam]

Hi Neal,
Thank you very much for your clarification. Now, I got it. As for Fib studies, thanks to you & your courses, I couldn't do without them. Thanks again & all the best.
Hussam.:):)