Buy limit triggered as the level got broken hard, stop is alive still maybe hit may not, remain to be seen.
what you don't want to do is to interfere with it, let it play its course.
Buy limit triggered as the level got broken hard, stop is alive still maybe hit may not, remain to be seen. what you don't want to do is to interfere with it, let it play its course. {image}
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How do you feel about scaling out on stops - say taking off 33% of the trade every 10 pips against your trade?
{quote} How do you feel about scaling out on stops - say taking off 33% of the trade every 10 pips against your trade?
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That would be a disaster, so the answer is no. This stop is very small and a lot of times is hit before you get to it... A lot of times just the reaction and bounce to the level travels 10-15 pips negative, so every time you would be in a winner for less amount.
This is how you deal with stops... you lick your wound and move on to the next trade. It's part of the game.
{quote} Close of the highlighted candles are the signals. Just to be sure Many thanks {image}
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No.
No candle is a "signal"...
The measurement of the level point is what we use it for. H/L of the wick to its close.
You are making this way to complicated for yourself my friend... you see a bottom or top you draw a line!! if there is a wick you do accordingly as I have explained if there is no wick you go inward 5-10 pips.
{quote} Wens you gonna learn....I think you need to respect the Op's thread and trading style.
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Just dislike the post so you don't see it.
There always will be one, and there is full of them here at FF and quite frankly everywhere in life... so best is to not waste time and be distracted.
He is disrespecting his own self more than anything else.
The price activated the buy at 1.08150 and crashed through for a 30pip loss, Is anyone on this trade, ? {image}
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That level wasn't fully developed.
A very weak level and price has broken bullish structure and momentum is building up to the down side the sell limits should be stronger trades.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
{quote} No, price take off from low is not that much yet, need more loop, need more time... Patience...
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nadi-fx. Ok. Is the selection of a level (e.g in the case a LL) a discretionary decision or are there rules associated with when to apply a level or not? For example do you use the MACD to assist with the decision to apply a level or not? Many thanks.
{quote} nadi-fx. Ok. Is the selection of a level (e.g in the case a LL) a discretionary decision or are there rules associated with when to apply a level or not? For example do you use the MACD to assist with the decision to apply a level or not? Many thanks.
The price activated the buy at 1.08150 and crashed through for a 30pip loss, Is anyone on this trade, ? {image}
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This was not a Level, because;
*Not enough take off from LL!...
I marked your own image... need a larger take off and loop around... especially considering the magnitude of this bear move.
{quote} That level wasn't fully developed. A very weak level and price has broken bullish structure and momentum is building up to the down side the sell limits should be stronger trades.
This should answer all your current questions about LV.
The first image; price halt and continuation... that halt is just a part of the price continuation... not large enough, not long enough...
translates to; not enough bull money inserted in order to be taken seriously. so, the LL is not level, but the peak of that small move is a Level... bcz new money did insert there to push it down further... that point is to be taken seriously.
2nd image... the pullback and the resume both are fine for levels, the is price take off on both pullback and resumes.
I hope it helps... just think of it; where money has showed up to push the price from any price halt!!... then, you got yourself a level there and must be tested on the next visit... some works some don't... because simply we do not know how much was inserted and if those orders still stand there later on, all we know at some point and time there was action there, that's it. But is good enough to make money from such little info anyways.
We are served with 2nd hand info as retail traders, always remember that.
... to counter such vulnerability, is the reason for 3R since the win rate will not be significantly high. you can hit 25% and be even money... any more than that you're profiting... but it might come and take in runs... like you will have a few losses in a row or same with wins... but its the loss one that you need to bear through, stick with it and etc, to prevail in the end and make money.
