EUR/JPY H1 box
james16 Chart Thread
- #143,248
- Jun 10, 2021 6:03pm Jun 10, 2021 6:03pm
I want to sell this BEOB. Very good localization relative to the weekly timeframe. Good sized setup.
But we have a little bit traffic on the left and round level below (133.000).
All this confuses me a little but the weekly bull rally makes it clear that there is not so much traffic.
I placed a sell stop order below 133.000 when the price will approaches the blue support zone my stop will be in the breakeven.
But we have a little bit traffic on the left and round level below (133.000).
All this confuses me a little but the weekly bull rally makes it clear that there is not so much traffic.
I placed a sell stop order below 133.000 when the price will approaches the blue support zone my stop will be in the breakeven.
- #143,249
- Jun 11, 2021 3:01am Jun 11, 2021 3:01am
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- #143,250
- Jun 11, 2021 3:40pm Jun 11, 2021 3:40pm
I want to sell this BEOB. Very good localization relative to the weekly timeframe. Good sized setup. But we have a little bit traffic on the left and round level below (133.000). All this confuses me a little but the weekly bull rally makes it clear that there is not so much traffic. I placed a sell stop order below 133.000 when the price will approaches the blue support zone my stop will be in the breakeven. {image}{image}
IF you held your position and didn't close out for profit to soon, your in the green. All the way from the stop loss/entry, to your prediction were you think price would meet some resistance. That's evidence of good understanding the order flow balance (if your into that kind of thing) or what most people call it support and resistance. Good call, good trade, and no guessing. The market did what you said it would do, and no one can argue, a picture is worth a thousand words
It's me...
- #143,251
- Jun 12, 2021 6:58am Jun 12, 2021 6:58am
{quote} Hello GLobe, IF you held your position and didn't close out for profit to soon, your in the green. All the way from the stop loss/entry, to your prediction were you think price would meet some resistance. That's evidence of good understanding the order flow balance (if your into that kind of thing) or what most people call it support and resistance. Good call, good trade, and no guessing. The market did what you said it would do, and no one can argue, a picture is worth a thousand words
Thanks for your comment, very important thoughts. All I do in this thread is follow the rules and guidelines for trading from people like Jim and Mike. I try to minimize any guesses, predictions, and all kinds of creativity.
As I am gradually becoming convinced, point trading like a sniper with the rules from Jim and Mike really allows you to practically avoid the initial stop losses.
The key points for this are the lows and highs that form the S/R zones and the presence/absence of traffic. Let's add here a good sized setups like pinbar/outside bar and most likely you will have enough space to move your stop loss to breakeven.
Stop thinking like a retail trader
Forextrinitrader3.0 Profit This Month:
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- #143,257
- Jun 21, 2021 5:40pm Jun 21, 2021 5:40pm
I want to buy this BUOB. He looks great.
We have some space to the left, we are above the important support area 130,000 - 130,500 and we have some space on the way to the first problem zone.
My stop will be at breakeven if the price approaches the blue zone.
We have some space to the left, we are above the important support area 130,000 - 130,500 and we have some space on the way to the first problem zone.
My stop will be at breakeven if the price approaches the blue zone.
- #143,258
- Jun 24, 2021 7:02am Jun 24, 2021 7:02am
- | Commercial User | Joined May 2013 | 1,157 Posts
It's tough to make predictions, especially about the future...
