Yeah, I decided to get in. The location overrode the other factors in the end for me. My first TP is at 1.4140 which occurs with the 50% fib of the small swing down and the previous bar highs. From there I plan to move my other half not to BE, but just down a few pips from where it is currently placed above the high of the pb so that it becomes a free trade. That way I plan to try and ride the other half down rather than cutting it too short. I still think we've got plenty of room to move south for this pair.
Great trading Pie trader!
I personally support the view that Eu is looking to let the bears run wild! this could be a great opportunity to get in fine tuned through a lower tf.
I am not trading till 5th of Jan but if i was trading this was a trade I myself would have taken with a trade plan similiar to yours :thmubsup:
Have a good one
Regards,
Ghous.
) is to trail this move down, giving it room to move, but in the same time not handing too much profit back to the market when it does decide to turn. Exits are something I'm really working hard on to try and master. I know everyone is individual in this aspect of trading, and I'm trying to get better at letting my profits run a bit longer - after securing some first and reducing my stop size.
If you have finished reading the entire thread you should not come up with questions like these, did you understand the material?
We are not using wicks to determice BUOBs and BEOBs and PBs we are looking at the highs, lows, open and close of the bars. go to the early part of the thread dor examples.
Regards,
Ghous.
thanks but i think you are sound a lil bit arrogant in here and yerp will do some recap. I dont think you get what im trying to say,
Regards
Thanks Ghous
I'm only really watching the charts this week as I'm having to work, so while I've got a few spare moments (things are quite easy in this in-between time of year), why not fill it with watching some PA!
I took the daily pb on this pair previously and exited all of my position before the holiday season kicked in, so I've been scouting for a good re-entry point to try and take advantage of what I see as a possible downward continuation. My only trick now (with pips already banked
not sure if that would be a strong bull sign. It would be just an Ibar. Right now price is between my short, daily TPs and will probably stay there for some time. From a 'micro' point of view, an hourly pb is still valid and a second test (blue rect) of tp2 would be a trigger for my long entry, should I chose to trade in the early EST hours.
Your at it again I see. dont you ever take a break.
waiting for trichet ...
