Disliked{quote} Thank you, dafa, for your post#18. I am studying EUR/USD only. So, I am not sure, whether this technique will work for EUR/GBP or not. But, one thing is sure. I will take trade only when the candle is closed.Ignored
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Disliked{quote} Thank you, dafa, for your post#18. I am studying EUR/USD only. So, I am not sure, whether this technique will work for EUR/GBP or not. But, one thing is sure. I will take trade only when the candle is closed.Ignored
Disliked{quote} Hi Kj-fx. Yes, I know you trade only EURUSD, but this candle was finished very similar. If it it EIURUSD, do you trade it or not?Ignored
Figure - 5
The candle#1 is 4.00a.m. Jan-15-2016 (NY Time) which more or less resembles the candle of your question. I would have put the buy- stop order at the high of candle#1+1pip+spread, stop loss at the PSAR value, and take profit at the buy entry + the range of candle#1. The profit was achieved at 8.00a.m. Jan-15-2016 (NY Time) candle. I had not taken that trade as I was away for my other project.Disliked{quote} Thank you, KeenPips (Post#20). To answer your question, dafa (Post#21), let us have look at the following figure: {image} Figure - 5 The candle#1 is 4.00a.m. Jan-15-2016 (NY Time) which more or less resembles the candle of your question. I would have put the buy- stop order at the high of candle#1+1pip+spread, stop loss at the PSAR value, and take profit at the buy entry + the range of candle#1. The profit was achieved at 8.00a.m. Jan-15-2016 (NY Time) candle. I had not taken that trade as I was away for my other project.Ignored
Disliked{quote} Thank you, KeenPips (Post#20). To answer your question, dafa (Post#21), let us have look at the following figure: {image} Figure - 5 The candle#1 is 4.00a.m. Jan-15-2016 (NY Time) which more or less resembles the candle of your question. I would have put the buy- stop order at the high of candle#1+1pip+spread, stop loss at the PSAR value, and take profit at the buy entry + the range of candle#1. The profit was achieved at 8.00a.m. Jan-15-2016 (NY Time) candle. I had not taken that trade as I was away for my other project.Ignored
DislikedPlease see the following figure showing the two trades: {image} Figure - 6 Candle#1 is 4.00p.m. dt.Jan-20-2016 (NY Time). This setup is based on trend confirmation from 34EMA, & 13EMA. Candle#2 is 4.a.m. dt Jan-22-2016 (NY Time). This setup shows how 34EMA is acting as a dynamic resistance.Ignored
Figure - 7
Candle#1 is 1.00p.m. dt.Jan-25-2016 (NY Time). This setup is based on trend confirmation from 34EMA, & 13EMA.Figure - 8
Candle # 1 is 2.00p.m. dt. Jan-26-2016 (NY Time) one. It gives good example of 34EMA acting as a dynamic support.