well the gbpusd and eurusd took some time but both were winners in fact latter on last night they both setup again and both won again also i am in trading room if you need to see the trade
lawrence on your trade setup on july 29 there was no setup the daily trend was up so we look for price to come down first which it did but no 123 setup took place point 1 is the bottom from down trend point 2 is the pullback point 3 has to take out low of point 2 if it doesnt happen dont chase market while price is trending up or you will get caught just wait till the next setup happens there are plenty of them here is a chart showing what i mean
Take a look at the chart below. It was on the eurusd. Daily was down and price went up. The number 1 in the diagram is the reversal of the uptrend. There was a h & s pattern as well so I took the trade.
However, I watched the indicators and the EMA;s had crossed. The Stoch had also crossed. Rsi was hovering a bit. Then Price moved down so fast that it was very difficult at that point (live) to see if the rsi was touching or had crossed the 50.
Should I have waited until the rsi was under before setting the trade even if it was missed as price moved so quick.
Can you advise if this was a good trade or bad trade etc.
lawrence it was a good setup but as it was formed another smaller 123 formed to the right now on my chart the rsi was already below i quess different data anyway if you look to the right of the rsi there is the value so it can give you exact reading and as long at it reads 49.99 or less its a go
harold i was on the second e/u trade,the smaller one,the bigger 1,2,3 the 3 actually went higher than the 1 on my charts but the second one was less risk , so all is good,the g/u actually had one just after this one,
stoploss and target for original was 30 pips well all good things sooner or later come to and end my 16 win streak ended last night in fact it looks like there was another losing trade also on eurusd the gbpusd had 2 wins and a loss
What then? 30 TP or TS is taken. Little retracement. Can I go short or long once again if there is still trend at Daily? Or I have to buy or sell only once after a trend signal at Daily?
with a half hour to the close of daily candle all three pairs are in downtrend so thats all we look for and hopefully we can get a trade in before the big news tomorrow i am in tradingroom now
i should be in room around 8pm which is 00gmt time also all 3 pairs daily direction are down it appears that friday left us with price trending up so we might get 123 setups tonite see you then
I just wanted to post a thank you to Harold for sharing his incredible trading system with us. I just spent the best part of 4 hrs in his trading room being coached by him on all the nuances of trading that. Yes, you read that correctly, 4 HOURS!!!
No charge!!! His generosity I have not seen in life very often and never in the FOREX world. He's a humble guy with a deceptively simple but brilliant trading system and he's the real deal--- A MASTER TRADER.
Once again Harold, from the bottom of my heart I thank you for helping me achieve my hopes and dreams in the FOREX world.
