oh btw, i have this trade on USDCAD. isn't it obvious?
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Dislikedoh btw, i have this trade on USDCAD. isn't it obvious? {image}Ignored
DislikedOne of the things that made me decide to pursue trading the financial instruments is to avoid brutes, and all along I have been shielded since I commenced. But now that I came out to help people by following Cartex concept , my desire for avoiding these brutes in public is defeated. Having said this, I once more recoil back to my shell. I say good bye to all my friends and I hope that the little I have contributed if any, will help in the pursuit of the trading career. Good bye folks as I wish you all more green pips to your elbow.Ignored
Dislikedhere it is. i just got assign to a new job on Wednesday. i hope i would not be away for a long time. anyway, here it is, the reason why. the big question, why a buy? 1. resistance to support confirm. the first "tick" mark 2. "x" mark show price is not holding in that level. go through with no problem. 3. a wick showing that buying is strong and trader interested on that level. 4. i open my buy after i see the first wick. 5. i hold my position after i see the second wick. open h4 and it will be much more clearer to you {image}Ignored
Dislikedhere it is. i just got assign to a new job on Wednesday. i hope i would not be away for a long time. anyway, here it is, the reason why. the big question, why a buy? 1. resistance to support confirm. the first "tick" mark 2. "x" mark show price is not holding in that level. go through with no problem. 3. a wick showing that buying is strong and trader interested on that level. 4. i open my buy after i see the first wick. 5. i hold my position after i see the second wick. open h4 and it will be much more clearer to you {image}Ignored
Dislikedhere it is. i just got assign to a new job on Wednesday. i hope i would not be away for a long time. anyway, here it is, the reason why. the big question, why a buy? 1. resistance to support confirm. the first "tick" mark 2. "x" mark show price is not holding in that level. go through with no problem. 3. a wick showing that buying is strong and trader interested on that level. 4. i open my buy after i see the first wick. 5. i hold my position after i see the second wick. open h4 and it will be much more clearer to you {image}Ignored
Disliked{quote} Hi catextract89, wasn't a good entry, after on wich rejection, the 16th of october (USDCAD)? Here is what i saw: - level 1,1240 rejected with nice pin-bar - support level (the buy stop order should be placed after the close of the pin candle above the green arrow). What is the difference between this setup and the one that u took? Thank you! {image}Ignored
DislikedDear Cat, Thank you for the explanation! However I am not so sure that this was a safe trade. Yes, after the first pin bar you could anticipate change of direction but you don't know yet. The higher volume and no progress of the price indicates battle between buyers and sellers and that's why there was 2-3 long tailed candles on the chart which closed within the first pin bar range. If you went by your rule of 20 pips SL you would have been stopped out(see the chart). Instead, wouldn't it be better to wait for the bullish momentum to build and trade...Ignored