Disliked....the movement was because of news. You couldnt see it on the charts. We should not trade during news-time. Or take the spike from the news - but this is gambling...
regards, MichaelIgnored
- #16,443
- Jul 31, 2008 6:51pm Jul 31, 2008 6:51pm
- Joined Apr 2007 | Status: Trader | 1,021 Posts
Failure, is a wonderful teacher!
- #16,445
- Aug 1, 2008 12:42am Aug 1, 2008 12:42am
I have question about when to enter on some trades.
This was last nights potential trade on the 1 HR.
The 4 hr gave no TC patterns, so I went to the 1 hr.
Look at the large green candle that is an engulfing.
Should I enter when it passes the small candle before it
or
should I enter when candles passes that long tail upward??
Does this tail only make a difference when it is 5 candles back on the 1 HR?
I do know that if a tail is next to that engulfing green candle I should wait for the green candle to pass it before I enter.
This was last nights potential trade on the 1 HR.
The 4 hr gave no TC patterns, so I went to the 1 hr.
Look at the large green candle that is an engulfing.
Should I enter when it passes the small candle before it
or
should I enter when candles passes that long tail upward??
Does this tail only make a difference when it is 5 candles back on the 1 HR?
I do know that if a tail is next to that engulfing green candle I should wait for the green candle to pass it before I enter.
- #16,455
- Edited 3:24am Aug 4, 2008 1:07am | Edited 3:24am
GBPUSD gave a TC down on my platform (Alpari, GMT+1). RR and SL Ok, but decided to stay out because of: a) prev. low too close (~10 pips); b) setup is "hanging" in the air - no resistance (EMA8 or res. line) above; c) several signs available that downtrend is loosing strength - almost DB on chart, HL on MACD; d) it's Mon., market might have not "decided" where to go yet.
Any thoughts? Had anybody entered?
Edit1: TP1 could have been reached, so the setup seems to have worked out this time. But next one similar is likely to be a loss if I enter it
Edit2: TP2 reached (1.97), possible ~30 pips went by..
Any thoughts? Had anybody entered?
Edit1: TP1 could have been reached, so the setup seems to have worked out this time. But next one similar is likely to be a loss if I enter it
Edit2: TP2 reached (1.97), possible ~30 pips went by..
- #16,458
- Aug 4, 2008 2:59am Aug 4, 2008 2:59am
GBPUSD gave a TC down on my platform (Alpari, GMT+1). RR and SL Ok, but decided to stay out because of: a) prev. low too close (~10 pips); b) setup is "hanging" in the air - no resistance (EMA8 or res. line) above; c) several signs available that downtrend is loosing strength - almost DB on chart, HL on MACD; d) it's Mon., market might have not "decided" where to go yet.
Any thoughts? Had anybody entered?
Edit: TP1 could have been reached, so the setup seems to have worked out this time. But next one similar is likely to be a loss if I enter it
You are right there Yorik but I took the short because of the following reasons
1. A TC down on my platform which closed @ 1.9735 exactly on my low entry defined.
2. there is enough room to support 1 @ 1.9706
Sell @ 1.9735
TP @ 1.9710
SL @ 1.9775. 10 pips above signal candle and 1 pip above pivot point.
got my 25 pips there. i have also reentered with small lot on retracement with 5 min strategy on the anticipation that it will break support 1 and i will ride it to support 2 @ 1.9660.
let see what happened
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
You are right there Yorik but I took the short because of the following reasons
1. A TC down on my platform which closed @ 1.9735 exactly on my low entry defined.
2. there is enough room to support 1 @ 1.9706
Sell @ 1.9735
TP @ 1.9710
SL @ 1.9775. 10 pips above signal candle and 1 pip above pivot point.
got my 25 pips there. i have also reentered with small lot on retracement with 5 min strategy on the anticipation that it will break support 1 and i will ride it to support 2 @ 1.9660.
let see what happened