Disliked{quote} Great entry on buying the breakout off the low on that ascending triangle and of trusting yourself and your plan! I'm just jealous I didn't get in there. I ended up fading the initial spike to 1.1243 (short 1.1234) after NFPs though I shouldn't have on such a strong number. Got out at 1.1224 for a measly 10 beeps and went long at 1.1226! I'll trade you my long for yours! file:///C:/Users/arshad/AppData/Local/Temp/msohtmlclip1/01/clip_image001.gifIgnored
Hi Vengeance,
Thank you for your kind words and sentiment.
Since u mentioned NFP i am taking this liberty to give my actions, hope its ok with u.
As u may have noticed from my charts, wen i enter a trade than i expect to be in that trade for several days or weeks, AND i may pyramid everytime an entry signal is generated. To me it does not matter whether my initial position is in a Loss or in Gain as i'm trading in the direction of Weekly Trend. Added confidence in executing the trade is when Monthly Trend is in agreement with the Weekly {MAIN TREND}, even better if the Daily Trend is also in same direction as the 2 bigger Timeframes.
Now i anticipate which way Price Action may move on release of that news....
What do i anticipate ??? - as we all know - is fast price action.
...what i anticipate before an important news such as the NFP, is a Spike that will move very fast...against the Main Trend,
...i will know when i'm right in my anticipation when that spike is creating great excitement amongst the Intraday traders.
...i don't stay glued to the screen
...i will check in hourly or every 4hrs to look for an EFB {Emotional Flare bar} or EEB {Emotional Exhaustion bar}
...when i see that then i enter in the Direction of the Main Trend
...i may, if i have the inclination, drop down to a smaller intraday timeframe and execute with more refinement and precision, but its not necessary in my experience.
Thats it !
...No big secrets
...No additional indicators or complex mathematical indicators derived from price