DislikedYes you are right, you could take some profit there,
I think it will brake through, but there are no guarantiesIgnored
ismail...
update: closed my last position at +15. might enter again around daily pivot if it retraces back...
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DislikedYes you are right, you could take some profit there,
I think it will brake through, but there are no guarantiesIgnored
DislikedIm Following the 1M chart looking at that stripe,
a brake of that stripe could mean troubble,
that would indicate that price is strong enough to move through resistance,
but Im keeping my fingers crossed, so far so good,
anyway if that would happend, I probably will close out the tradeIgnored
Dislikedthat stripe is at the confluence point where daily pivot and choros' m15 and m5 MAs intersect. I think price will get there and turn back downwards. I hope to catch that train, too.Ignored
Dislikedlooks like price couldn't get through an old fib there, thats weak!
going down againIgnored
DislikedI wonder why it happens all the time. My stop was at +10 and I just quit in order not to loose more of my profit at +15. Just a second later I quit my trade, price stopped rising and now it's falling again. I'm sure that if I didn't quit, that would hit my stop loss... I feel sometimes that somebody is watching me over my shoulder and laughing at my anger when these kind of things happen...Ignored
Dislikedvery slow, I think I'll pack it up for today,
you guys have any luck?Ignored
Yes you got a point there,
I have been using your idea for a long time,
for exits in a uncertain market I will use it for both exits and entry,
but for a more certain market when there is a clear direction such as an uptrend,
I use the smaller timeframes only for more precise entrys,
and I still exit based on the larger timeframe Im trading at.
I don't know if thats right or wrong but that seem to work for me
edit
the reason behind my thinking there is that
the higher timeframes seem to rule the smaller timeframes
so the trend might still be down on ex; a 4h timeframe,
while price has been changing bias several times on the lower timeframes,
so in that regards, the lower timeframes don't count,
so thats why Im not using them for exits in a clear market direction,
I might be exiting too soon when the trend on the 4h chart will continue for days.