Viewing the market through f(x)
- Joined Nov 2020 | Status: Member | 68 Posts
Current Open Trades:
Everything is green minus EUR/USD short.
That has been consolidating quite a bit. It's still a great short here with a roughly 40% probability of reaching the TP before the SL. You can do the math on the current RR offered by the market to see if that decision makes sense or not.
Everything is green minus EUR/USD short.
That has been consolidating quite a bit. It's still a great short here with a roughly 40% probability of reaching the TP before the SL. You can do the math on the current RR offered by the market to see if that decision makes sense or not.
Viewing the market through f(x)
- Joined Nov 2020 | Status: Member | 68 Posts
EURUSD looks to be heading for the stop. Very likely to get stopped out.
We are setting up to watch a great development for our next entry though.
You can see that we are below the 200 MA and have recently made a nice lower low around 1.2130.
We are currently in a pullback heading back towards the MA.
We will want to watch here for a new lower high to be formed, and once price starts consolidating around here and turning back down, we will look to short again.
You want to picture this playing out before it does, so if/when it does, it's like you are watching everything click into place. This will help give you conviction in your trading decision/assumption of where the price is likely to head next.
If price rolls over from a new lower high in the next 24 hours or so and retraces about 20-40 pips from that lower high, I will be looking to short. Hopefully, some longs loaded up on the pullback and will need to get out once the rollover occurs, that should help us move down.
We are setting up to watch a great development for our next entry though.
You can see that we are below the 200 MA and have recently made a nice lower low around 1.2130.
We are currently in a pullback heading back towards the MA.
We will want to watch here for a new lower high to be formed, and once price starts consolidating around here and turning back down, we will look to short again.
You want to picture this playing out before it does, so if/when it does, it's like you are watching everything click into place. This will help give you conviction in your trading decision/assumption of where the price is likely to head next.
If price rolls over from a new lower high in the next 24 hours or so and retraces about 20-40 pips from that lower high, I will be looking to short. Hopefully, some longs loaded up on the pullback and will need to get out once the rollover occurs, that should help us move down.
Viewing the market through f(x)
{quote} Technical Reasons: 1. Above 200MA 2. Possible higher low set at 1.3620 area 3. Price has continued from that low by 33 pips or so (in our 20-40 pips range). Other Reasons: 1. Hedge USD Exposure.
“The waiting is the hardest part” Tom Petty
- Joined Nov 2020 | Status: Member | 68 Posts
{quote} Much appreciate your posting the live trades instead of after the fact, and the reasoning. Thank you for sharing such a simple & sound strategy.
I hope you are able to learn some new ideas and improve your trading!
Viewing the market through f(x)
- Joined Aug 2018 | Status: Member | 1,436 Posts
Hello Mnr,
Its a pleasure having you on FF my friend,thank you.I have been 15+ years in the IT field ,now trading full time.Math,statistics,probability.
Wish this thread all the best,this is what traders needs a system that works.
Its a pleasure having you on FF my friend,thank you.I have been 15+ years in the IT field ,now trading full time.Math,statistics,probability.
Wish this thread all the best,this is what traders needs a system that works.