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DislikedI like it a lot. Nothing is 100%, but I like your idea of scoring the trade. Did you recently come up with this or have you tried to score these trades ahead of time previously.
I'll look at it as I go through the charts, Thanks.Ignored
DislikedNo, this is XLT stuff. wmd's method is very very similar. The checklist is just to get you thinking and training your brain to pick the best levels out of habit. Once you use it a few times it becomes automatic. It helps you judge your entry levels and how you approach them. Sometimes the best levels get hit very fast and take-off very fast so it helps to be prepared with a limit order. Other levels may have to be approached more carefully such as waiting for the breakout of the level and even a pull-back.Ignored
DislikedSo to summarise this what we are looking for:
1. Resitance
2. Breakout
3. The failed parabola (or hook)
4. The price is moving away from our level
When we see this we have a resistance level that has not been tested as support.
This is our pattern.Ignored
DislikedAll:
This us the EURUSD 30m TF live chart obviously.
Paper Trade: I would enter at 4960 with sl at 4940 and exit half the trade at 4980 and ride the rest to next resistance level moving stop to entry. What do you all think?
All of this, of course, without regard to a pin bar/morning star/hammer/doji forming as of yet except for the one at 0030 gmt hours.
Thanks,
GravitasIgnored
DislikedOk, we've been hanging around different bars. What is XLT stuff, and if his method is similar I'd appreciate a point toward it.
If your score sheet were to be used on this daily chart (assuming 1.4345 as the breakout point) what would your score be----or should we wait and see how it approaches (if it approaches)
AttachmentIgnored
DislikedAll:
This us the EURUSD 30m TF live chart obviously.
Paper Trade: I would enter at 4960 with sl at 4940 and exit half the trade at 4980 and ride the rest to next resistance level moving stop to entry. What do you all think?
All of this, of course, without regard to a pin bar/morning star/hammer/doji forming as of yet except for the one at 0030 gmt hours.
Thanks,
GravitasIgnored
DislikedWhat, exactly, do you look for when you say "wait for pa to show..."? BAr closes and candle patterns on a lower t/f? Or just if price slows down and hangs around the level? Would you please clarify that? Thank you.Ignored