i trade the mini dow a little bit differently but not much. i daytrade that market with a 2000 tick chart and look for the above mentioned confluence at round numbers. 50,00 etc. im the only person on the planet i think that daytrades that market with a 2000 tick chart but i quit trying to be like most traders a long time ago anyway.
... I've been playing around too with tick charts on eur/usd serching for PA .. and it seems to be the same of time charts ... ) .... to be wrong market has to brake the low of that bar and then retrace up to new highs .... instead if price has in account to make new highs I think that the low of I4b will not be broken ...
... he went long !!! 
) 
It just doesn't get any better then this.
A lot of pairs moved the same way as the GU these past two days, didnt take that one jaroo but here are two i did take.
The red x is where I moved the stops to after today, I'm looking to ride the trend here but I will be paying attention to PA at those price labels- this may cause me to exit sooner (otherwise its mikes two bar exit method).
It just doesn't get any better then this.
It just doesn't get any better then this.
Your right Jarroo. But simple minded people myself can still mismanage these trades. An example is Eur/Jpy. I entered of the break of the daily PB yesterday and when i was up about 130 pips i moved my SL from the top of the pin bar to B/E. Of course soon after i was taken out only to be followed by a downward movement of about 400 pips. Since my motto is never let a positive trade turn negative i guess i could have re-entered on the retrace later....
Fortunately on G/U i kept a few pips. On my demo i entered on the break and price moved down quite steady so my manual trailing stop of 100 pips was fine. However on my under capitalized money account i was not able to put my SL at the bar high of the PB so i just entered a limit order on a 50 fib retrace of the pin and i was filled. Closed at 336 pips so it cushioned the blow of my other mistake.
As Jarroo mentioned these trades are about as easy as you can get. Makes me wonder why everyone is not doing it, I have only recently taken PA demoing seriously so i am still learning the basics of trade management.
You're certainly on the right track saskgui. Keep steaming ahead and fine tuning that management. It gets to the point eventually where it's a downhill run.
And same first TP as I used.
