Market Structure Only- keep your charts clean

Quoting Koop

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{quote} Hey Nik! How you been? Quick question- Your 1m trailing stop method, how does it work? You move your SL to the previous swing high after price breaks structure LL and creates another LL(In a sell situation)? If that's it, how often does your stop get hit only to continue in your profitable trade direction? Too many B.E trades these days for me especially after getting close to 2.5R.

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Quoting nikosk0

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{quote} hy man. i only use it when entering on small timeframes for big moves during NY mainly. HOPE the image below helps so when break1 happens i put stop at break even when break2 happens then trailing stop2 break break 3 happens trailing stop 3. etc. when structure shifts, i wait for either trailing stop to get hit or price to retest the low to exit. each time we have a break of a low i put the stop above the previous high. btw. getting almost 2r and eventually out at break even is almost criminal activity. you gotta secure some profit. {image}...

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Quote

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btw. getting almost 2r and eventually out at break even is almost criminal activity. you gotta secure some profit.

Quoting snail69

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{quote} Koop, let me address your issue. Now I am in GU, so marked situation there on the picture. Today is Wednesday, so situation might change quickly... This way it is theoretically possible to get 3RR in this case, if you go till 123.6 fib. {image}

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Quoting snail69

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{quote} Koop, let me address your issue. Now I am in GU, so marked situation there on the picture. Today is Wednesday, so situation might change quickly... This way it is theoretically possible to get 3RR in this case, if you go till 123.6 fib. {image}

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Quoting nikosk0

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{quote} i am sort on it from that accumulation zone. my stop is just above your target zone. 1.3622 i didnt trail cause i secured profits from another trade so i am letting run. i am in for a 100+ pip down move. i will start trailing once 1.3873 gets broken (if it does break) my second position for 200 pips. will see how it goes. {image}

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Quoting snail69

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{quote} This is me : {image}

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Quoting nikosk0

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{quote} i love your patience ya know. but i am not comfortable buying that high, still trying to find a way to do so

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Quoting nikosk0

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{quote} i love your patience ya know. but i am not comfortable buying that high, still trying to find a way to do so

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Quoting Koop

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CADCHF Short - {image}

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Quoting Koop

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{quote} CADCHF Closed at 3R thanks to ADP Unemployment i guess. AUDCHF short still in progress. {image}

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Quoting scherzi

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{quote} The prices are seeking liquidity above that consolidation most likely. The problem is identifying the structure that will offer a sufficient RRR after that second leg when prices are already high. But I would also buy as long as I find a good support around that second leg since price seems disposed to take away these highs. A flat structure is a high probability target, like the consolidation above or the typical double or triple highs, that are normally bullish even if the mainstream literature says the opposite thing.

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Quoting nikosk0

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{quote} got out of gu for penies. ts on ur achf that i would use {image}

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Quoting nikosk0

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{quote} yeah i know, i just cand buy that stuff. prices tend to go to current trend steady and slow. when pb they tend to go fast. i tr to catch the fast move for a lot of reasons. 1. notcomfortable buying an already an extended (imo) market 2. more time to think about it and dont rush it. 3. structure shift is also slow, so i can exit early on a bad trade at worst case scenario a small loss. (i almost never let my sl get hit) ps. we understood your post the first time, dont repeat yourself ...

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Quoting nikosk0

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{quote} i love your patience ya know. but i am not comfortable buying that high, still trying to find a way to do so

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Quoting Koop

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{quote} Lol exactly how i'm doing it now. I have not moved to level 4 though, worried about a stupid spike. Will watch for it to drop a little more first. Already close to target.

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Quoting snail69

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{quote} Today Wednesday, my "disaster day". The first one I lost, but entered again at double bottom and closed shortly after NYSE open. {image}

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Quoting nikosk0

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{quote} i d happilly take that exit here than the nerve meltdown later on. i dont know what did you do but i hope you at least didnt get a break even {quote} at least you made mone on the second try. i sorted again not at the top althought 1m provided a really good opportunity i did not have the time to take such a grande entry. {image}

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Quoting Koop

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{quote} Haha I took profit at 2R after I couldn't handle the stalling any more. Would have punished myself if it was BE again. Funny enough, after the retracement, it continued to my 3R target.... Not all will be like this.. Gotta remind myself.

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