DislikedA range pullback setup on crude oil 4 hour. From a order flow perspective, it looks like a stop hunt clearing the stops just above resistance. {image} fartistIgnored
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DislikedDear Reynar, Many many thanks of your sharing trades in this useful thread, I hope you to gain thousands pips in this year. Do you know where is Danuk who had a thread before? Best RegardsIgnored
Dislikedhi fartist i've been scanning the market for some days now and many currencies that were tranding are now in a ranging mode/consolidation what are your opinions about entering these kind of currencies? what i was thinking is that we have two options 1. enter in ranging mode. i thought this because i remember you said to follow what we see and not news or other indicators. so, in ranging mode, the price still respect the value zone and eventually the EMAs catch up with the price. that seems a good entry set up to me. the risk is that the trend may...Ignored
DislikedHi Reynor, thanks for you help last time. I hope I didn't miss anything while reading your thread but I have a few questions and would appreciate your help again. I don't want to misunderstand your exit rules. Lets say you were long on 4h and price closes below the 50 ema. Is that a full candle close?(a full candle open and close below the ema) or do you consider a candle that cuts through the ema but closes below the ema the time to exit? I back tested a little on the eur over the weekend and find that trading the 1h you get stopped out a lot compared...Ignored
DislikedHi Fartist thanks for the explanation. You mentioned you exited 2 ATR's above the 20 EMA on daily. On my chart, the daily ATR is around 2.5 so your stop is 5 dollars above the red line isn't it? The 20 ema is around 48 dollars for my chart so the stop should be 53 dollars which didn't hit yet. I must be misunderstanding something... the atr setting i have on is 20. Am I confusing something? {image} cychiuIgnored
Disliked{quote} Hi Antonio, As you have said price may still respect the zone on your entry time frame despite the higher time frame being in a range, i would still take these trades because if price does breaks out of the range on the higher timeframe, that would be a potentially high R reward. Likewise waiting for price to breakout isn't wrong either, what matters is you're comfortable with taking these setups. fartistIgnored
Disliked{quote} thank you fartist i'm glad i'm starting to get something right. in the end depends on how much i am willing to risk. also i noticed that i was opening too many transaction in the same currency without waiting the price actually moving in my favour. now i am waiting for the price to move at least 1R in my favour before i can open any new position on the same currency. in this way i can break even the first position and better manage the transaction. what is your opinion on risk management when you are scaling in your transactions? i remember...Ignored
DislikedThanks Fartist, I see, that explains it lol. Your positions are all out now but I guess you will try another entry if it breaks the swing lows correct? The audusd is very weak now, looks like there are opportunities. cychiuIgnored
Disliked{quote} Hey Anto, Yes you should be careful of scaling in too aggressively before price moves in your favor. Because it is a double edge sword, and you could lose twice as fast. I tend to scale in after having at least 3R on the first lot, subsequently i risk about 0.3R on the later entries. But that's my own trade management, you could risk more or less and it's all depending on you and your psychological comfort. Always remember, the more you scale in the faster you earn or lose. fartistIgnored
DislikedHi Rayner, could you give us an example on the whole idea of "R'? i see there are tailks about risk 1R and seeking return of 3R, could you put these in a sample price perspective so that I can understand it in a quantitative way. thanks a lot. SebastianIgnored