Roadmap - A Way To Read Markets

Quoting turnip15

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{quote} Draw in a trend line and you will answer your own question. ( It slopes down)

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Quoting firewir3

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{quote} Okay turnip , will try to use trendline more on as now as Im still reading of this thread and testing on demo.thanks

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Quoting KPTrading

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{quote} If you are bringing your SL closer to your entry to limit your losses, then you are not managing your risk. As an example, if you decide to risk 1% of your Balance/Equity on a trade, then your Lot size/Position size has to be adjusted based on your chosen area for a SL. You seem to be working with a fixed lot size, which means that the further your SL is from your entry, the more money you lose. This can be a troublesome way to manage your risk. Before you enter a trade, choose a spot on the chart that would tell you the trade is no longer...

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Quoting dbsdsun

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AUDCAD M15, short under trend line, then manually closed {image}

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Quoting MrAnta997

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Hi Laura, here's an example I found on deciding on entering (real time) long or short, Trendline and SMA are in the same area, and either way the price goes, it's gonna bounce pretty good, so I assume this area should be nice area to entry (long or short, as described on screenshot).. Been hunting for this kind of a ''setup'', so I could post it as an example.. Hope it's a good one, since I guess I'm not the only one having problem with actual entry area {image}

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Quoting LauraT

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{quote} Hi The fact you are having to consider whether it will go up or down should tell you to stand aside. You will find much more clear-cut opportunities with RSI either above 60 or below 40. My bias for EA would be up but it's anyone's guess right now as it's in no man's land. You want to find charts where the direction you are taking is obvious (as long as you've taken into account all the other stuff like fighting momentum etc etc).

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Quoting MrAnta997

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{quote} Thanks for clarifying that, it makes sense.. This one already had channel crosses which turned around and went back to the previous side (of the SMA), so I guess it's an ''stay away'' signal.. One more question, when is to late to enter the trade?? RSI is 69, MTF is all green, it's confirmed cross, but the price is already far away from the SMA.. ie {image}

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Quoting LauraT

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{quote} My concern with taking a long on AU is that Friday's high is just 8 pips above price and could act as a barrier. In general terms though, it's fine to enter existing trends on a retracement, as long as the overall structure is supportive.

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Quoting MrAnta997

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{quote} I entered here so i could get a quick few pips till it hits ADR, RSI and MTF are all good, but the price is far from SMA.. Is it good entry or I screwed up again, haha?? {image}

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Quoting LauraT

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{quote} {image} I just closed my trade actually. It feels like price is already stretched. There's a chance it could revisit today's low again but chances don't seem high enough for me to want to put money on it.

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Quoting KPTrading

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{quote} Hi, Entry looks good, but I feel like sharing what the situation looked like from my point of view. This helps me learn and maybe can help you in the process. We can all learn from eachother Try placing your short SL in area's above Resistance/DailyOpen/Swing high etc. I get punished when placing the SL around the 200sma. It looks like I'm not the only one. This change in SL placement helped me. Maybe it can help you too Good Luck! {image}

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Quoting LauraT

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{quote} Apologies - just seen your post. Perhaps it was delayed due to post moderation. Your entry was good actually. The only thing I'd say is that I don't see a valid exit. Was your stop loss too close? If I was short that market, I'd have stayed short unless daily open was broken.

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Quoting LauraT

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Hi everyone Firstly, let me thank all of you who have kept this thread active in my absence. I'll be catching up with all your posts in due course. I'm sorry I had to temporarily abandon the thread but circumstances made it necessary. I also want to thank those who passed on supportive messages regarding my family issues. This was greatly appreciated. My mother passed away on Saturday morning after a long battle with cancer. I do intend to get back to trading, and posting here, just as soon as my head is in the right place again - so watch...

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Quoting MrAnta997

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Hi Laura, here's an example I found on deciding on entering (real time) long or short, Trendline and SMA are in the same area, and either way the price goes, it's gonna bounce pretty good, so I assume this area should be nice area to entry (long or short, as described on screenshot).. Been hunting for this kind of a ''setup'', so I could post it as an example.. Hope it's a good one, since I guess I'm not the only one having problem with actual entry area {image}

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Quoting firewir3

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Hi Laura, Took this one during asian session just now please give some comment hopefully I'm not doing this wrong again Just some thought should I take partial profit when the price hit daily hi and let the rest run and only exit when candle close below channel? EURUSD {image}

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