Hi Domino,
Really good information, I am learning a lot...
Just had a quick question... I've been following the trades you were making last week on EUR/USD, and I demo traded what I think the price action was (based on your teachings so far)...
So
price broke out of a 3C(?) resistance - buy, sl at previous low
price made a higher high but failed lower-low - buy at break of high, move sl to previous low
Price made higher high but failed lower-low - buy at break of high, move sl to previous low
Price made higher high but failed lower-low - buy at break of high, move sl to previous low
Price made higher high and failed lower-low
Price made lower high then lower low
Price made lower high but then failed lower-low - buy at break of high, sl at previous low (Last pair of red and green lines) *** not sure about this trade
Now because I was in this trade I thought order flow was upwards. I therefore did not take your last trade (sell after 6F break) as my SLs in place for current orders had not yet been hit...
Please correct me if I have entered any of the above trades incorrectly. I am particularly not sure about the last pair of green and red lines - was it right to enter here or should I have waited to enter at the break of the 1.3499 high? (blue line)
Thanks, your help is greatly appreciated!
Really good information, I am learning a lot...
Just had a quick question... I've been following the trades you were making last week on EUR/USD, and I demo traded what I think the price action was (based on your teachings so far)...
So
price broke out of a 3C(?) resistance - buy, sl at previous low
price made a higher high but failed lower-low - buy at break of high, move sl to previous low
Price made higher high but failed lower-low - buy at break of high, move sl to previous low
Price made higher high but failed lower-low - buy at break of high, move sl to previous low
Price made higher high and failed lower-low
Price made lower high then lower low
Price made lower high but then failed lower-low - buy at break of high, sl at previous low (Last pair of red and green lines) *** not sure about this trade
Now because I was in this trade I thought order flow was upwards. I therefore did not take your last trade (sell after 6F break) as my SLs in place for current orders had not yet been hit...
Please correct me if I have entered any of the above trades incorrectly. I am particularly not sure about the last pair of green and red lines - was it right to enter here or should I have waited to enter at the break of the 1.3499 high? (blue line)
Thanks, your help is greatly appreciated!