- If you re right you will be right regardless of your trigger. That's the way I would recommend you to approach trading. so
-> First on the Slow Stochastic in a small TF to reduce drawdown ...here same as last time we use it a quick slow one. Two triggers already +/- in the same area
-> On the fibs or magic lines. Just drop all that shit and noise. You got and told me that have a clear range and hasn't change since December why on earth you should be plotting or chart fitting Fibs and retraces?... Stick to the range !!!!. NO break, no shake no nothing and no nothing also mean no need to redraw charts or in this case those lines !!!!
Don't know your exact range but lets take the current one which is obvious one in play.
Here price retraced and passed the 50% areas. If you entered blindly there you should have stopped out. If you are a sharper and prefer a Price Action more sound approach to trading you will have waited for a test of R and take it in the way back 50% .... so the there trigger ? you should be patiently waiting if we ever get back ...sure in this particular case 200 ticks far from the top but you do that to have minimun drawdown a prolly some momentum on the break back down .....
--> Finally PRICE BASE ALONE:
There is NO !!!! ZERO nothing. No one single entry either. You wonder why sisse prefer and by a mile or two a pure price base approach for entries? ....well point in is track a short in the next simple rejection entry with one miserable candle ...we'll talk later....
Finally now reaching the end of the road ...
Putting everything in perspective
- Your targets are too soft and cautions. You are betting for a mid term exhaustion leg and your max target is just the low not the break.
- You are getting lost in translation with your triggers (apart from the FA that have been messy to be honest this month)
- You are not focusing on Risk but in Gains
- Your Timing is wrong not only for the trigger but for the move you are betting. You are betting for a mid term swing continuation which takes weeks to months remember:
short term: days to weeks
mid term: weeks to months
long term: months to Quarter
Right or wrong on this trade. Believe me you will laugh at your charts and anxieties when you see this area at then end of the Q.
Final question:
So all clear now: Is choose your poison time SHORT TERM :
-> Shorts on the next price entry to your targets
or
-> Longs on the break back 1,0800 for 1.098x.
As simple as that.
sisse
Pending conversations? PM for a chat...I am mainly in OTM now
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