Double Bottom in construction
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Disliked{quote} I do not think so. Because I dosome things manually. Hence, if the case, I can observe the slope(s) (mainly 256 and 128 ) changing. Then I recalibrate (reprecise if necessary, the initial approximative target priceIgnored
Disliked{quote} Okay -- then as a programmer I would apply the following rule: If the SMA extensions don't make sense with the most recent bar data then the guesstimated target price should be ignored. And as for the definition of "what makes sense", that is left to the discretionary trader. Is that a fair statement?Ignored
DislikedBeing not 100 % stubborn we opened a Short position Target 1,48636 +/-66 {image}Ignored
Disliked{quote} Okay -- but it looks to me that trade was opened south of the target price calculated using the following formula: TargetPrice = FP2 - (High - FP2) In other words, because you are a wild and crazy guy and looking for adventure you still opened a SELL trade long after the TargetPrice had been reached. Is that a fair statement? PS: I should have also added "brilliant trader"...Ignored
Disliked{quote} Top = 1,49334 FP intersection 163264128256 =1,49000 Target = 1,49000 - 0,00334 = 1,48666 +/- 66Ignored
Disliked{quote} Top = 1,49334 FP intersection 163264128256 =1,49000 Target = 1,49000 - 0,00334 = 1,48666 +/- 66Ignored
Disliked{quote} Excellent -- I think I've reproduced your EURAUD / M1 chart. But there is still one important piece that I am missing. On the X-axis, can you draw an arrow to show me the **earliest** time you could have entered the trade with the guesstimated 'TargetPrice' being your TP. {image}Ignored
DislikedBeing not 100 % stubborn we opened a Short position Target 1,48636 +/-66 {image}Ignored
Disliked{quote} Difficult to say because chart has moved and we can not recreate the conditions. Seems the trade was not so bad planned but I was wiped out at stop-loss as I was reading your post. Shit happens Price reached 1,48765 1,4866 + 66 = 1,48732 Good analysis , bad execution {image} {image}Ignored