In relation to my post directly above, I did move my SL out on shorts that got caught right before T3's diverged (still within reasonable risk mgmt) and waited out this fake rally, a.) because J is trending strong across pairs and b.) especially on EJ the buying volume was really weak. HODL was the right move and rewarded me with about 250 pips on the next strong down turn on CHF and EUR. Trust the system! Fake rally across the board in this pic: {image}
What do y'all think? If you get caught in a trade like this where T3 240 and T3 50 cross like this short that I took at the white arrow drawn? I'm thinking just move my very tight SL out further. I might consider closing with a small loss if it wasn't for the longer term downward trend for this pair, but it still seems like a low risk trade in the long run. May just take more time to materialize as a winner. {image}
{quote} Hi man, for me, If I get caught like this, I'll either move my SL to BE (if possible) or just accept the loss. I never move my SL further from the initial level as it's not according to my risk plan. The "edge" of this kind of method is pretty large, so I'm okay taking the loss and wait for the next signal. I don't want to play with the "luck" side as it could do more harm than good.
{quote} That was NZDJPY, which I swore off trading rest of the night as it was way to choppy. In all honesty, I don't remember why I did not exit those trades when it hit the other side of the band. Maybe I got distracted. I agree with you about not moving the loss if it is up to the limit on my mgmt. I'm usually starting these trades with SL about 10 to 15 pips away. My limit on this kind of scalp is 50. So moving away to 30 was not out of my rules... though it was a little wild. Thanks a lot for your input here and all other posts during session....
{quote} I'm using a CSI at M1, M5, M15 for a snapshot. (attached) I'm also comparing price action relative to volume. If I see an anomaly, i.e. wide spread candle with below avg volume and vice versa, within a large move to the up or down side, it with be a red flag to me as a fake. Seems to work and be logical. I'm watching price and volume simultaneously on another chart while watching DJMS's set up. A good match. {file}
as billyoneer was saying its good to tie in the bands with s/r as well - you can see here on uj when the best time to hit the bands would be {image}
The party before explosion. 
