|
Commercial Member
|
Joined Feb 2010
|1,267 Posts
One more example of how price thinks ahead of time. Notice the spikes up while going down, progressively consuming supply to make room for bulls. Once supply is consumed, price can advance without difficulty.
edit: almost hit my stop.. bought the spike down and scalped it for another 26 pips.. i'll happily take what markets willing to give
Attached Image
edit 2: stop hit.. so i traded gold more.. love nice fast moves..
Attached Image (click to enlarge)
edit 3: play it one more time sam.. closed both with 82 pips
Attached Image
------------------------------------
edit 4: Just wanted to show you it's not so difficult to get what markets willing to give.. it needed to hit that box before doing anything else.. closed all with 100+ pips
i've been asked on a sister thread about my use of locking word in respect of some trades that i mentioned locking..
some trader use locking word for adding stop @be+
then why not to use hedging instead of locking.. hedging has different meaning to what i have been doing..
"A hedge is an investment position intended to offset potential losses that may be incurred by a companion investment." - From Wikipedia
i'm not offsetting any potential losses.. just locking certain amount of pips so that it doesn't matter where price goes i have secured my pips.. when time comes or decide, i need to close both as quickly as possible when market is quite and preferable on the ranging periods.
it was screaming for free pips to be collected.. let see if somebody can tell why..
Attached Image (click to enlarge)
edit:
bit more [80+ pips] on small round trip.. can it get any easier................
Attached Image
edit 2:
one more round.. 220+ pips.. closed upper 3 buys.. left lower buy as a lock. previous lock was closed by accident..
Attached Image (click to enlarge)
Attached Image (click to enlarge)
edit 3:
sometimes things don't go according to plan.. this usually happens when plan is not so good.. lower 2 sells was rushed entries.. didn't take any notice of the wick..
rather than taking loss i decided to work my way out of it as the H4 trend was on my side and next supply was not much further up..
closed all without any loss.. 100+ pips.. it may go further south but i'm happy to close them where i did..
worked out much better than expected.. almost 300 pips..
Attached Image (click to enlarge)
edit: bit more [80+ pips] on first reaction..
Attached Image
edit 2: took it's time but it did what's expected.. closed all with 170+ pips
when trading uchf, it's a good idea to watch eurusd at same the time as they have negative correlation - when central banks are not interfering..