That, and I always pray that it's not a train..
FUBAR...
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DislikedDove,
I have been thinking about how you got your entry off the S1 pivot.
Did you just go long as it was hit as it was a key level pivot, or did you see some evidence of a turn as even looking at the 1 minute chart there was little evidence of a retrace until 111.85 at best.
If you just entered because it was S1, can you let me know what point you would have closed this long and reversed your position looking for S2 instead of the central.
Sorry for the questions.
Thanks,
G-ManIgnored
DislikedHe might have put a limit order... Broker would have automatically triggered it... When he comes back hopefully he'll answer... That's a good questionIgnored
DislikedDove,
I have been thinking about how you got your entry off the S1 pivot.
Did you just go long as it was hit as it was a key level pivot, or did you see some evidence of a turn as even looking at the 1 minute chart there was little evidence of a retrace until 111.85 at best.
If you just entered because it was S1, can you let me know what point you would have closed this long and reversed your position looking for S2 instead of the central.
Sorry for the questions.
Thanks,
G-ManIgnored
DislikedOK G-Man:
As you well know, I trade no other pairs except for the one we are on..... I know exactly what will happen on the pivots when they are hit.... The only time the candles will break through the S1 or the R1 is during an announcement..... If that happens then you can bet that all 3 of the S's or R's depending on the drive, are going to be broken..... Other than that there are two things that will happen when the S1 or R1 is hit. (1) will retrace and then come back or (2), turn and go the other way..... I use my 3 minute chart for this purpose besides scalping....
Like this morning..... My 3 minute candle went through the S1 and close at the 111.61 and the next 3 minute open on the same pivot and then turn green.... I knew then, it was a turn around because it did not retrace, but kept going.
If it had been a retrace then the normal pip range on the retrace is 15 - 20 pips, which is more than enough to close with profit.
I had placed my entry order prior to the S1 being hit. I did so on my platform in which I can place any type of buy or sell order by a few clicks on my mouse. I had the order set for entry at the 111.65 and the limit set for the central..... If it had been a retrace I would had close the trade with profit.... When it hit the 50% retrace I waited for the retrace to begin and then I closed for the retrace at the 112.95 and then re-entered at the 112.70, then placed my limit to the central to finish the trade.
I hope this answered your question.Ignored