I have taken some more off the table on the USD trade. It has hit resistance on the 2nd trendline and price has rejected so far. Now have a small position that can do as it pleases. Good trade in the end.
Chart attached
Chart attached
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DislikedThanks for the invite Razor
Nice thread.
Could you summarize your rules for your higher TF trades?
I'd appreciate it.
So are you officially going live??
Wow That's awesome.
I wish you the best and lots of pips.
Take care and good trading.Ignored
DislikedHi Razor,
Any ideas for the occurence/handling of IBs that point in the other direction while in a trade?
As for taking profits try weekly/monthly pivots and S/R derived from open/close/low/high.
regards
tdeuIgnored
DislikedHi Razor , good luck on your trading . I am new to pc ,an am also new to j 16 . I enjoy both methods an hope to be successful at both. Really enjoy your posts on f f . One quik note i back tested the EU from jan to end of april on the 1 hour tf , using 2 lots .As many loses as gains , but the gains were much greater . Avg. loss 25 pips , avg gain 67 . Anyway good luck an tks again for starting this thread , GaryIgnored
DislikedHi Razor,
What do you think of the EURAUD daily IB. It would be counter trend. But the weekly bounced off the 61.8 fib from July 2007 to Oct. 2008.
Maybe another bear flag in the making and a couple of hundred pips. Risk 180 pips.
regards
ThomasIgnored
DislikedHi,
There is a bearish IB in GBPUSD daily and 4hr tf.
Supporting diag tl on daily and 4hr around 1.5060. Maybe it breaks "counter IB" then.
tdeuIgnored
DislikedI was planning on this remaining a bearish daily IB. There is room to the downside before the trendline comes up to meet. I have placed my order to get me in and I have a profit target of slightly greater the 1.5/1. BTW I have to use the 100 pip stoploss to make this trade, which on a daily is going to be a normal approach. Unless the market continues down we may not get in on this trade.
Entry 1.5066
SL 1.5166
TP 1.4900
Chart belowIgnored