looking for a short trade at the 50% FR
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DislikedMy thoughts on EURGBP.
Please comments are needed çause i may be right or wrong and like to learn.
Thanks Tunji, managed to close y/days trade in green.
I like my trades to blast off almost immediately if taken on 1hr tf. If they dont, i close as soon as possible.
Thanks to NFP. got to go take some nap before i loose some nerves. lolIgnored
DislikedI had a limit order setup for Euro that was filled and closed today. I thought I share it with the group. Hopefully it can be informative.
The first line chart shows the channel I was following. I was looking for a close outside the channel. The close occurred yesterday so I looked for pullback and entry at the breakout area. There was an overlapping Fib at the 38.2 retracement of the major move. It is not shown on the chart to avoid clutter. My limit @ 1.4375 was filled earlier today. Before NFP I widened my stop not to get shaken out and before...Ignored
Dislikedim just wondering your limit order? was it for a short or long.. looks like short, but when you said you were out of your trade was it a gain or a loss? it wasn't every clear.. looking at your chart it could have been either as the markets went crazy last night heheheh.Ignored
DislikedHi D liberators, your analyses on the H4 and Hourly charts are quite nice and understandable to me; but I need clarification on the Daily chart regarding why you chose the 0.8697 & 0.8399 levels – and not other levels – to determine the invalidation and continuation of downtrend, respectively.
Also on the Daily chart, why do you need upward retracement of at least four candles to disrupt the downtrend?
Please know that my questions are unbiased: I just want to be able to see what you saw. Thanks....Ignored
DislikedSorry Tunji, av been off forum for a while.
I usually prefer my wave length to have at least 4 candles (this is just a personal preference and does not apply to all cases.).
As per my low and high levels, i try to determine the most recent ABCD and go with the wave orientation in that line. A high point/candle will have at least 2 low candles to the left and 2 low candles to the right and as earlier said i look for my wave lenght to contain at least 4 candles.
I dont know if i make sense.Ignored