Maybe this means something.... maybe not.
BR
BR
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DislikedI can only agree with nightmoves, look at your pullbacks. Also another thing you wanna look at is to be right away in profit from entry. The bigger the momentum the better. If it goes back into a loss more often than not it will hit your stop loss. You wanna be in the green almost instantly. If you are unsure and momentum is not so high, then just close the trade. Always good to be out of a crappy trade.
cheersIgnored
Dislikedeur/usd ready for another short? Attached is the daily.
Now I know the usual daily trendline is already broken, but as you all know trendline are not definite. And until we make a higher high, I am still downward biased.
How did I come up with my channels? the shorter channel is just taking the last two highs. A pretty standard channel
The longer channel is a little tricky, I first drew the trendline on the lows and copied that trendline to my highs making an absolutely parallel channel and coinciding right with the current price high.
I...Ignored
DislikedHi Custos
You mention that 'the bigger the momentum the better'
in some of your earlier post, you had pass on trades where you cited 'the PA was going too fast' for your liking.
how do we reconcile these 2 situations.
i mean are there any 'rules' that governs your decision making?
cheersIgnored
DislikedHi Custos
can the EU daily be viewed as having a double bottom in this instance, hence a possible long position.
i understand that you have mentioned that it has not taken out the previous high of 17 Mar, hence your bearish bias.
am confused by what i have seen, your insight/opinion most appreciated.
thanks in advance
cheersIgnored
DislikedIMO - there are a number of pairs with no where to go. The formations are different, but all compressed.
Feels like something is going to go POP.
BRIgnored
Dislikedwell, if you look at the weekly, ej is in a weekly channel and possibly going short soon (or breaking out, haha). let's see what happens.
cheersIgnored
DislikedYesterday i opened a short position on the EURAUD pair, and few things indicated for me to close the first part of it at 1.4530.
- Price had a great momentum down but at the 1.4516 level there is a support, and price couldnt push through it. On the M15 chart a spinning top formed at that level, telling me a pullback might come up to the 1.4550 level.
- Also the ADR is near at 1.4499
- And i just wanted to cash out my pips, and move SL to BE, to have a risk-free ride with my second position.
Entry: 1.4630
1st TP hit: 1.4530...Ignored
DislikedNice one! Grats!
Unfortunately price didnt give me my entry signal as a BPC pattern on the trigger chart.
Around the 125.15 level im a bit concerned as it worked as great S/R in the past, and also i like it when more elements are coming together that could push price in my desired direction.
I may pass this setup until that level is breached.
Should i be concerned about that level, or not? What do you guys think?Ignored
Disliked...
Best advise I ever received: "wait until you are comfortable that probability is in your favor, don't chase the market, draw your plan and let the market come to you"...
Trade safeIgnored
Dislikedeur/usd ready for another short? Attached is the daily.
Now I know the usual daily trendline is already broken, but as you all know trendline are not definite. And until we make a higher high, I am still downward biased.
How did I come up with my channels? the shorter channel is just taking the last two highs. A pretty standard channel
The longer channel is a little tricky, I first drew the trendline on the lows and copied that trendline to my highs making an absolutely parallel channel and coinciding right with the current price high.
I am already...Ignored
Dislikedwell, if you look at the weekly, ej is in a weekly channel and possibly going short soon (or breaking out, haha). let's see what happens.
cheersIgnored
DislikedI use two strategies.
1. Hector style trade
2. Touch trades (brv style)
Now these days I use touch trades the most, meaning I am entering right at an S/R level. Let's say we are in a downtrend and price is retracing back to my S/R level. I want the retrace to be slow, not fast. When the retrace is too fast, it is likely to breach my S/R level.
For Hector style trades we are in a totally different situation, cause we wait for confirmation in shape of a bpc. We don't care what the retrace looks like, we enter at the "impulse" wave after the...Ignored
DislikedIt could be viewed as a double bottom. But just look at the swing before, we had a TRIPLE bottom. Wouldn't that have indicated a long position as well? Thing is those bottoms or tops have some meaning, but just not a lot.
Well, we are at a difficult point, cause the daily trendline got broken. I am myself not so sure, but I know what defines a trend and when it is broken. lower highs and lower lows = trend, and once it starts to make a higher high and a higher low, trend is broken and we are either consolidating or in an uptrend.
So right now...Ignored
DislikedI use two strategies.
1. Hector style trade
2. Touch trades (brv style)
Now these days I use touch trades the most, meaning I am entering right at an S/R level. Let's say we are in a downtrend and price is retracing back to my S/R level. I want the retrace to be slow, not fast. When the retrace is too fast, it is likely to breach my S/R level.
For Hector style trades we are in a totally different situation, cause we wait for confirmation in shape of a bpc. We don't care what the retrace looks like, we enter at the "impulse" wave after the...Ignored