Good morning to all! My first post on this thread. What do you think, is this a touch of 35/50 lines by the roules of the dance?
EDIT: I guess in wasn't. SL hit at -12 pips.
EDIT: I guess in wasn't. SL hit at -12 pips.
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DislikedI took that one, but it hesitatet and I closed it at +1, then 2 sec. later it went up like a rocket. I`m realy upset about it!Ignored
DislikedI try to wait at least 2 Bars before closing the trade, giving some room is a must, but waiting longer, chances a good its turning against youIgnored
DislikedI picked out the same trade but with a slightly different entry Mr. Bear.
Rather than using instant entries at the touch, I have been using Kostas method of studying the price action. The entry for me was the harami on the 5min chart, it wasn't a great one but the area was so strong that any rejection of the level was good enough for me. Beyond that, it would also have been possible to trade on the close of the pinbar on the 15min chart. Your entry would be slightly worse but the draw down was still only around 10 pips and with a stop behind the...Ignored
DislikedEnter a Short Trade at 1.5026, high of retrace of Last 15 Min candle.
(circled in blue)
According to the Rules:-
1)within 2 candles retrace to touch 10 EMA line
2) Angle about 33 degrees, not very steep though
so not a perfect by the rules entry
My own observations that add strength to the trade
3) Price Tested Daily Support line No 3, which in this case has become a resistance line.
Concerns:-
4) Was concerned that price bounced off RN 1.5000 but took the trade with a small SL at 1.4940, just at the 35EMA line
Edit:...Ignored
DislikedVery nice willkohsg,
I got the same trade going (short at 1.5017). I was out at 1.4994.
With the current strong action you should watch H1 10, H4 10, M15 10, M15 35/50 for bounces. I would also scalp the M5 35/50. Most probably some of the above MAs will confluence and that would be the stronger trade to take.
KostasIgnored
DislikedHi,
If as part of a retracement, you have the possibility of a good touch trade on the H1 (with good confluence of other S/R) but which is counter to the 15M trend (it is retracing) does the strategy recommend to take it or is it down to individual discretion? The manual is pretty strong on not trading counter trend,
thanks anyone with view or experience of this,Ignored
DislikedLook at that 35/50 touch on GU H1, 15 pip SL was enough +30 in no timeIgnored
DislikedNice trade here. It was also confluenced with H4 50 (within 4 pips). So, I got +22p from this (I wish I stayed longer.....)Ignored