DislikedYeah, how is the 13:20 GMT candle on EUR/USD considered a pullback when it's low is lower than the breakout candle (13:15 GMT) low?Ignored
the pullback candle closed @1.4436. The breakout candle closed @1.4418
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DislikedYeah, how is the 13:20 GMT candle on EUR/USD considered a pullback when it's low is lower than the breakout candle (13:15 GMT) low?Ignored
DislikedCould someone please help me regarding when exactly to enter ?
Assuming short
1) mark the low of the box from 7am - 9am EST
2) 5 pips offset to low of the box (low A)
3) Wait for breakout to happen
4) If market continues lower ,mark down the lowest low ( low B)
5) once retrace happens, should I enter 3 pips below low A or wait till price crosses 3 pips below low B ?
ThanksIgnored
DislikedIgnored
DislikedNomoretoxic,
Have you considered opening a live trading room??
www.tradingrooms.com
Idea, hassle???
MikeIgnored
DislikedNomo says
any pullback...ultimately what you're looking for is the last price either high or low before the pullback - 2-3 pips away, that will be your entry.
He states also that he use the CLOSE for all candles. So the retrace candle CLOSED inside the breakout candle but NOT inside the box?
In this post
http://www.forexfactory.com/showpost...90&postcount=1
4) if breakout occurs, wait for a pullback. Meanwhile, take a note(or draw an horizontal line as I show on the charts) of the PRICE at the last higher/high - lower low before the breakout - let's say the last high/low happened @ 1.3950 and then the market began to retrace form there, take a note of that and place a limit around 1.3953(if long) or 1.3947(if short)
My lower low before breakout was #3 @ 1.4435 so then I should place entry 3-5 pips below that @ 1.4430??
My retrace candle was a doji, closed at @1.4433. Above lower low before breakout. Place entry @ 1.4430.
That sound right??
This is so simple but its complicated, Im thinking to much is my problem.
and I see some other folks make entry at the high/low of the breakout candle .
where's the exact entry?
1) 3 pips above/below the original box's high/low after pullback
2) 3 pipe above/below the highest high / lowest low which hapened AFTER the breakout and BEFORE pullback
3) 3 pipe above/below the breakout candle after pullbackIgnored