And the Tale of the GBPUSD today hehe
This is easy stuff when you are on demo and not getting slipped into oblivion like my broker usually does to me, 4 pip spread on this demo is a bit harsh for GBPUSD , my live account has 3 heh go figure.
1) Chart One - I was going to tap this one countertrend
2) Chart Two - I saw this with the trend coming against me, exited immediately and went long.
3) Chart Three - a nice pin it was too.
This actually is a pretty handy method, but it takes patience, experience and guts to trade it on the 5Min I think, you literally have no time to think about it, I trade 28 pairs intraday from hourly charts so it's a lot different than this.
Enjoying it though.
EDIT - Would you be inclined to exit the CT trade when you see something good coming against it ?
Also it seems to me that when trading against the trend the Pin bars have to be A+++ , like, quality pinbar at a swing high with a long nose,
Whereas WITH the trend they don't have to be as good in terms of shape, because the trend just does it's magic ?
This is easy stuff when you are on demo and not getting slipped into oblivion like my broker usually does to me, 4 pip spread on this demo is a bit harsh for GBPUSD , my live account has 3 heh go figure.
1) Chart One - I was going to tap this one countertrend
2) Chart Two - I saw this with the trend coming against me, exited immediately and went long.
3) Chart Three - a nice pin it was too.
This actually is a pretty handy method, but it takes patience, experience and guts to trade it on the 5Min I think, you literally have no time to think about it, I trade 28 pairs intraday from hourly charts so it's a lot different than this.
Enjoying it though.
EDIT - Would you be inclined to exit the CT trade when you see something good coming against it ?
Also it seems to me that when trading against the trend the Pin bars have to be A+++ , like, quality pinbar at a swing high with a long nose,
Whereas WITH the trend they don't have to be as good in terms of shape, because the trend just does it's magic ?