Pairs that look like the one below are worth putting on a watch list, because the spring is getting tighter and tighter. It's just a matter of time before it pops in one direction or another.
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DislikedI have no idea how to optimise the profits and never really think about what I may have missed. I am of the B. Baruch school of thinking, I look for about 1/3 of a move, but I look for it over and over again.Ignored
DislikedHi Lawgirl.
Please tell me what you mean by taking 1/3 of a move. How do you determine what 1/3 of the move will be? Do you use fibs? One of my problems is knowing when to exit or what target to set. Too often my targets are just missed and the trade reverses.Ignored
DislikedWow! you are going way back. B. Baruch never tried to determine the very top or the very bottom of a move. He made his millions by taking roughly 1/3 of a move or just a portion of a move, but doing that time and time again. (1/3 is arbitrary, not exact)
Are you setting targets at reasonable support/resistence levels? Take a look at the chart below-- CHFJPY. I am in it on a short trade. I have set what I hope is a reasonable TP target just at the bottom of the wicks....which are really nothing more that price probes. I also like this pair for...Ignored
DislikedThanks so much for your reply. Just exactly what I needed to know. I keep going back to your original threads just to see if I am following your instructions correctly! On the H1 4B BO when the trigger candle ie the one that is completly free of the SR line M15 chart, do the RSI arrows H1 and H4 still have to be pointing in the direction of the trade?Ignored
DislikedBOs are pure price action moves. The RSIs do not need to be going in the same direction, but they will eventually follow PA, as the RSI is a lagging indicator. Of course, if the H1 and H4 RSI are confirming direction, it should make for a stronger, more reliable trade....remembering that the market does exactly as it pleases at all times.
I am also really liking the HA candles for BOs as they are more "conservative" and I am beginning to think give a stronger signal.Ignored
DislikedHi Lawgirl.
Please tell me what you mean by taking 1/3 of a move. How do you determine what 1/3 of the move will be? Do you use fibs? One of my problems is knowing when to exit or what target to set. Too often my targets are just missed and the trade reverses.Ignored
DislikedI'm not seeing a short on EURCHF yet...will keep it on my watch list.Ignored
DislikedHi Lawgirl.
Please tell me what you mean by taking 1/3 of a move. How do you determine what 1/3 of the move will be? Do you use fibs? One of my problems is knowing when to exit or what target to set. Too often my targets are just missed and the trade reverses.Ignored
DislikedFinally I am seeing some trends for the week. The weekly RSIs should be pretty well set so BOs or 3 Taps in their direction should be strong.Ignored
DislikedPairs that look like the one below are worth putting on a watch list, because the spring is getting tighter and tighter. It's just a matter of time before it pops in one direction or another.Ignored
DislikedFinally I am seeing some trends for the week. The weekly RSIs should be pretty well set so BOs or 3 Taps in their direction should be strong.Ignored