Peaks and troughs in an array 4 replies
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Bow's trading journal 2 (almost naked trading on m5) 26 replies
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DislikedHi nasir...doing nicely on these trades. Just a quick question, why are you looking to go long Euro...Ignored
DislikedHello Mark,
look at his chart. i think he wants to go long (as break) above the 1.3434 ppz & lower peak.
Hope this helps
btw, for those new to the term, PPZ means price pivot zone. learn more about it in the james16 threadIgnored
DislikedYeah saw that, but just thought at the time that the obvious pending order would be a sell below the valley as we have had LH and LL's....Ignored
DislikedHi nasir...doing nicely on these trades. Just a quick question, why are you looking to go long Euro...I would have thouyght ou would be looking to short a break of the lower valley?Ignored
DislikedHello Mark,
look at his chart. i think he wants to go long (as break) above the 1.3434 ppz & lower peak.
Hope this helps
btw, for those new to the term, PPZ means price pivot zone. learn more about it in the james16 threadIgnored
DislikedI was short from the 4H pin. I also added more on this break but when i saw the FIB and strong support @ 3384 (plus a bounce on it), i closed them both and placed my buy stop.
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P.S Ignore the buy on 3420.
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DislikedBonjour nasir.khan,
Regarding the EURUSD trade, the last lower high retested the PPZ, it means that odds for breaking now are much higher, but in accordance with Martin Pring's pdf, this breakout would be JUST a half signal because there was a lower low before !
Is that an agressive trade and is your entry based on the break line chart high or at the current break bar high ? Same question for the stop loss level ?
Thanks
Happy trading,
AngelIgnored
DislikedPeaks and Valleys (Trading Naked) is nothing new… just a way for you to place your trades in the right direction. Try and follow along and if you have questions, ask me.
“The aspects of things that are most important to us are hidden because of their simplicity and familiarity.”
--Prof. Ludwig Wittgenstein
Think about this statement for a bit, before you even read what I’m about to write....Ignored
DislikedI have a question: Since the strength of this strategy is pyramiding trends, should we only trade when a strong weekly trend appears to be underway? What if the weekly (or daily) chart shows a strong trend, but the 4-hour does not? And what if the 4-hour chart shows a strong bullish trend, but the weekly chart shows an overall bearish trend?Ignored
DislikedNasir.khan,
Yes, I have even printed it to read and re-read it !!
Please, could you concider my question regarding your entry/stop loss levels ? I mean is your entry/stop loss based on breaks of line chart high/low or breaks of current bar high/low ?
Thanks for your attention,
Happytrading all
Cheers
Ignored
DislikedNasir.khan,
I would presume that you use HIGHS/LOWS because of the price spike.
I love very much this way of trading waves because of the pyramiding concept at breakout, no need to chase extreme market levels by buying at swing low or selling at swing high for making money in the long run !
Check this also : http://www.forexfactory.com/showthread.php?t=219561
It's all about orders flow and S/R
Happy trading
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DislikedHmmm i think i am up around 3,000 pips in just 7-8 days and most of them were posted live. If you could get moves like these once in a month or 2 or even 3 you could do well.
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