{quote} Still Long at 156.663 Another Long at 157.621, reason 2H SAR appear, risk white cross purple down.
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1. Entry Long at 156.663, +130 pips.
2. Entry Long at 157.621 SL hit
Evaluation :L Entry 1 is a bit late, however exit is could have been better. I don't know where to exit.
As for entry 2, entry is late as well, 3 pips to TP but eventually SL hit.
Please comment so i can see where my mistakes are. Thanks.
{quote} 1. Entry Long at 156.663, +130 pips. 2. Entry Long at 157.621 SL hit Evaluation :L Entry 1 is a bit late, however exit is could have been better. I don't know where to exit. As for entry 2, entry is late as well, 3 pips to TP but eventually SL hit. Please comment so i can see where my mistakes are. Thanks. {image}
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what I can tell you is this:
the first entry was good. You had all the indicators for the uptrend. Like you said, maybe a little late but still good.
the second entry is in a situation where I myself still struggle because the uptrend seems to be able to continue like a train but at the same time you have red fibos and divergences as an alarm bell:
"Yes - they are both attached and ends the trend. It may go lower/low or turn. Once that hits you do not want to trade any more in finding out if it will go lower/low. You just might get caught if greed overrides common sense."
As I already wrote in a previous comment, in such a situation I would expect to have +40 pips gap to the top. Sure it seems easy to talk after the fact but with an entry at the EMA hit you would have gone TP.
I haven't found a similar situation in the old thread yet so I can't be of much help. Thanks for your sharing
adjustment: Ema will cross purple with the new open bar. however Romar cannot be the target because it is out of the trading area. BBs are tightening and in consolidation will stall the market. I will go short on a retrace with +40 pips gap to BB or if there is no retracement and the market hits BB flat I will wait for a retrace at EMA to go short
{quote} what I can tell you is this: the first entry was good. You had all the indicators for the uptrend. Like you said, maybe a little late but still good. the second entry is in a situation where I myself still struggle because the uptrend seems to be able to continue like a train but at the same time you have red fibos and divergences as an alarm bell: "Yes - they are both attached and ends the trend. It may go lower/low or turn. Once that hits you do not want to trade any more in finding out if it will go lower/low. You just might get caught...
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2nd entry: yes indeed should have count pips before entry. I think for 2nd entry is indeed like you said is to wait until a clear setup show up.
Keep learning. Thanks.
{quote} adjustment: Ema will cross purple with the new open bar. however Romar cannot be the target because it is out of the trading area. BBs are tightening and in consolidation will stall the market. I will go short on a retrace with +40 pips gap to BB or if there is no retracement and the market hits BB flat I will wait for a retrace at EMA to go short
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1H is joining 2H. 2H now with EMA down. I will entry short at EMA hit and that is 40 pips to Lower BB. Will see.
{quote} 1H is joining 2H. 2H now with EMA down. I will entry short at EMA hit and that is 40 pips to Lower BB. Will see.
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my idea is to enter at fib 23.6 or a little higher. But I don't know if the market will retrace or go straight down. I noticed that at the open of the 2h candle the BBs were widening. Also the market seems to have already tested smooth resistance after DB attachment and we have never had an opening above smooth. there may already be momentum to go straight south without further retracements.
no entry according to my plan before the European session where we have important news coming out. So I guess I'll just watch for the rest of the day
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I entry short at 2H EMA, 1H between EMa and PSAR, 4H purple. At time of entry 1H white cross purple, 2H still downtrend, 4H PWS down with EMA as support. Now it looks like it will hit SL. Could it be all day red news?
{quote} I entry short at 2H EMA, 1H between EMa and PSAR, 4H purple. At time of entry 1H white cross purple, 2H still downtrend, 4H PWS down with EMA as support. Now it looks like it will hit SL. Could it be all day red news?
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It hit exactly at SL with SAR attach top. What am i missing? Looks like downtrend to me.
edit: if next candle open and PSAR does not flip then entry short? provided EMA does not cross purple up.
{quote} It hit exactly at SL with SAR attach top. What am i missing? Looks like downtrend to me. edit: if next candle open and PSAR does not flip then entry short? provided EMA does not cross purple up.
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Honestly, I'm having trouble too. The news all day keeps me out. But if it weren't for the news I really wouldn't know what's going on. I also believed it would go south with EMA and PASR resistance. Now I'm not sure if the PSAR will hold the resistance also because if white crosses the purple PSAR it will be eliminated. Not sure what SAR is telling us now. 1- new upward movement 2- it will reconnect down together with DB. I'll look through the notes to get a clearer idea
Here now it looks like that SAR is telling us it will reconnect with DB down. If it weren't for the news, I'd take a short with a PSAR retest. This way there is +40 pips gap to last low
adjustment: 1H Romar cross purple so now is holding both S/R. To go Long now I will wait white/purple cross and I'll try to enter the closest possible to support.
if Romar doesn't hold support then I will try to enter Short off resistance
I was rereading my notes and wanted to correct myself because I think it's not right to talk about ranging on an uptrend.
I quote Dana:
post #7154 ...On an uptrend the mode is swinging and on a downtrend it is ranging. There is a difference between the both. On swings it is about the 4 Horsemen; and on ranging it is about support and resistance; and the Labels will give you those levels.
1H turn up, smooth at purple for crossing.
2H open above EMA with EMA arrow up.
If next 2H candle open above EMA with EMA at purple for crossing up and 1H indicators up, then .....
1H turn up, smooth at purple for crossing. 2H open above EMA with EMA arrow up. If next 2H candle open above EMA with EMA at purple for crossing up and 1H indicators up, then .....
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I am already LONG.
However I am not very satisfied because I would have liked to entry further down. But on 1H we have EMax and MACDx. On H2 we have EMax. The last open bar was just above 38.2 (1h) and 23.6 (2h). Now I'm going to sleep. See you later
The paradox System 2023 (for beginners)
