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evocpr19 Sep 4, 2018 3:20pm | Post# 42921

{quote} 2nd entry the expectation was for a deep pullback and it did pull back to the 78.6 and to within 3 points of the previous pullback. It was an aggressive entry only because of the smaller swing and the momentous bearish candles the rotation followed. {image}
Thank you for the explanation.

bmdenton23 Sep 4, 2018 3:22pm | Post# 42922

{quote} Thank you for the explanation.
Your comments are welcome anytime, I highly value them.

Eyesonthepip Sep 5, 2018 9:33am | Post# 42923

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My direction for the day.
Last swing broken at the red line. looking for deep pullback to the area around 25960
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Undergoing some pain. did i miss anything in my expectation?

Bruin813 Sep 5, 2018 9:59am | Post# 42924

My direction for the day. Last swing broken at the red line. looking for deep pullback to the area around 25960 {image} Undergoing some pain. did i miss anything in my expectation?
I have the same analysis and expectation. I'm in short too. Looks like the sellers are taking over now. Time will tell.

JayTrader Sep 5, 2018 10:44am | Post# 42925

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Morning All Trades I took Today Stopped out of all +145
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Hansl Sep 5, 2018 11:04am | Post# 42926

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YM - Went long early this session. Had to go to work and got triggered with +93.
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JayTrader Sep 5, 2018 11:09am | Post# 42927

YM - Went long early this session. Had to go to work and got triggered with +93. {image}
Nice Trade

Hansl Sep 5, 2018 12:11pm | Post# 42928

{quote} Nice Trade
Needed after some losing trades the past days...

Eyesonthepip Sep 5, 2018 12:39pm | Post# 42929

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Got stopped out. only trade for the day.
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Question: was i looking at the wrong swing?

Sheeep44 Sep 5, 2018 1:08pm | Post# 42930

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Info on the chart.
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JayTrader Sep 5, 2018 1:21pm | Post# 42931

Got stopped out. only trade for the day. {image} Question: was i looking at the wrong swing?
No Market just decided to cycle up. Was looking in the same direction as you, good assessment

Bruin813 Sep 5, 2018 3:30pm | Post# 42932

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Hi guys,

I'm highly insecure about the trade I took. From my point of view the expectation got broken twice (white lines) and the new expectation was for a NSL. Now price went in my favor (+60 at one point), but the thing I am unsure about is the trade management. Is there anyway I could have foreseen this to happen?

Thanks in advance.

Regards,

Gunnar
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evocpr19 Sep 5, 2018 3:58pm | Post# 42933

Hi guys, I'm highly insecure about the trade I took. From my point of view the expectation got broken twice (white lines) and the new expectation was for a NSL. Now price went in my favor (+60 at one point), but the thing I am unsure about is the trade management. Is there anyway I could have foreseen this to happen? Thanks in advance. Regards, Gunnar {image}
Yes. When you look your reference leg, we never broke below the previous up move (so it is only a retest).
However, PA on your reference leg shows a clear advantage for the bears, so your entry makes sense (in particular R:R), but then price retraced for a downmove very deep and in the middle portion (small leg before your entry), bears were not acting. The second round up even beyond your entry price should never have happened with such a ref. leg.
Hence, when entering that trade I would be much more aggressive with trailing (but I am still rubbish at it, so likely to get kicked out too early).



Hope it helps.

Prock Sep 5, 2018 4:25pm | Post# 42934

Hi guys, I'm highly insecure about the trade I took. From my point of view the expectation got broken twice (white lines) and the new expectation was for a NSL. Now price went in my favor (+60 at one point), but the thing I am unsure about is the trade management. Is there anyway I could have foreseen this to happen? Thanks in advance. Regards, Gunnar {image}
Hi Bruin,

Do you mind me asking why you didnít move your SL to a BE? One of Damianís rules is to move your SL to BE when price has hit structure. Price hit structure like a brick wall. You could have at least saved some pain with a BE if you chose not to trail.

Eyesonthepip Sep 5, 2018 7:51pm | Post# 42935

{quote} No Market just decided to cycle up. Was looking in the same direction as you, good assessment
Thanks. Much needed assurance.

Bruin813 Sep 6, 2018 1:23am | Post# 42936

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{quote} Yes. When you look your reference leg, we never broke below the previous up move (so it is only a retest). However, PA on your reference leg shows a clear advantage for the bears, so your entry makes sense (in particular R:R), but then price retraced for a downmove very deep and in the middle portion (small leg before your entry), bears were not acting. The second round up even beyond your entry price should never have happened with such a ref. leg. Hence, when entering that trade I would be much more aggressive with trailing (but I am still...
Thanks for your feedback Evo. I understand what you are saying. Very helpful.

I didn't consider it to be a retest for the reasons mentioned on the chart.

I am still in the state of mind of trading the expectation without concerning too much about the strengths and weaknesses. This is the difficult part. By answers from people like you, I learn more and more.
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Bruin813 Sep 6, 2018 1:27am | Post# 42937

{quote} Hi Bruin, Do you mind me asking why you didn’t move your SL to a BE? One of Damian’s rules is to move your SL to BE when price has hit structure. Price hit structure like a brick wall. You could have at least saved some pain with a BE if you chose not to trail.
Hi Prock. Thanks for replying.

I was gonna move my S/L to B/E when price would enter the lower box. Are there reasons (besides what Evo said) to handle this differently? Why would you move to S/L earlier? How do you build your case to decide when to do that?

liemo Sep 6, 2018 7:40am | Post# 42938

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{quote} Hi Prock. Thanks for replying. I was gonna move my S/L to B/E when price would enter the lower box. Are there reasons (besides what Evo said) to handle this differently? Why would you move to S/L earlier? How do you build your case to decide when to do that?
Hi Bruin,

1) It is still an uptrend (as per my rules) as previous low was not taken out.
2) As price made a deep correction and exceeded past the 78.6 retracement, need to be careful that there is more strength to the upside.
3) To protect your capital, like evo said trail SL at previous HL or move SL to BE when price make 61.8% retracement (or whatever works for your strategy).
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liemo Sep 6, 2018 7:55am | Post# 42939

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Entered trade slighhtly late [rules are made to be broken =(]....SL moved to BE for risk free trade and will be trailing SL
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liemo Sep 6, 2018 7:58am | Post# 42940

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Entered trade slighhtly late [rules are made to be broken =(]....SL moved to BE for risk free trade and will be trailing SL {image}
SL taken out for +10pips
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