Hi Pips!
A question for you....not a current trade, but one pulled from the depths of this thread
I've attached a chart of Tamaras from post 2785. I'm scratching my head a bit trying to work out entry positions. In this case, price hit the inside level and moved upwards agressively (75pip candle on H4). On the H1 TF there was a smaller bullish engulfing candle that could have been entered on, but the MACD on this TF had not yet turned to signal a long entry.
Refering to post 2682 of Tamaras re entering a ND trade: "The signal for a shorting opportinuty must be a topping scenario - 1). MACD short signal or 2). 4HR reversal candle, 1HR candle can be played, too, in this case MACD 1HR short signal needs to back up your entry."
None of these options really showed themselves. However, she entered the trade nicely. Whats the best way to approach these things? I think you put in buy/sell orders quite often?? However there are obviously plenty of times that the price just breaks straight through these ND formations and would kill the trade pretty quick.
Hope that little ramble makes sense!!
A question for you....not a current trade, but one pulled from the depths of this thread
I've attached a chart of Tamaras from post 2785. I'm scratching my head a bit trying to work out entry positions. In this case, price hit the inside level and moved upwards agressively (75pip candle on H4). On the H1 TF there was a smaller bullish engulfing candle that could have been entered on, but the MACD on this TF had not yet turned to signal a long entry.
Refering to post 2682 of Tamaras re entering a ND trade: "The signal for a shorting opportinuty must be a topping scenario - 1). MACD short signal or 2). 4HR reversal candle, 1HR candle can be played, too, in this case MACD 1HR short signal needs to back up your entry."
None of these options really showed themselves. However, she entered the trade nicely. Whats the best way to approach these things? I think you put in buy/sell orders quite often?? However there are obviously plenty of times that the price just breaks straight through these ND formations and would kill the trade pretty quick.
Hope that little ramble makes sense!!
Attached Image