Hi Nimrod and soyabean, how is your USDCAD trade? Did the price hit your SL during the news just now? The news is so scary. Now it turns towards your way. Happy pipping.
DislikedHi Nimrod and soyabean, how is your USDCAD trade? Did the price hit your SL during the news just now? The news is so scary. Now it turns towards your way. Happy pipping.Ignored
DislikedIt was a mental test when price goes against me.News will effect our trade , and I was able to bail out at the bounce of the TL in the nick of time .But , I immediatly resume the trade with a better entry and eventually took 100pips before my TP target.
News will excite the trade either way but price will calm down almost everytime..I hope soyabean had a good run.
That is the name of the game...SPECULATION BALL.
DislikedHi Guys, just to update what happened in the Looney trade I took yesterday.
There was a breach of trendline at C.Price did come down to retest it but it bounced not exactly to the line.
There was a retracement at 62% Fib, a tweezer top ( a Double top in lower TF) , confluence fib level at 78.6%,but in all those factors, the TRENDLINE played a major influence in the direction of trade.
A tripple top was formed after the bounced, again respecting the 62%fib area, again price did dived BUT price still respecting the TRENDLINE.
Trigger was pulled,...Ignored
DislikedI have made the same call as you due to the same reasons. Price action, fib retracement and the strong downtrend. Not all trades will win and its good you are evaluating your loss.
I have no idea whether I am ok in the trade, it's too early to say, my TP is still another 100-150 pips away =D Don't have access to my charts at the moment but will post mine as soon as I get home from work.
However, I will suggest widening your SL to get it "protected". Where is the next resistance level? My mantra in taking any position is always this, "[b]take...Ignored
DislikedYou are too kind, it is good to see you doing well.
I must apologize as I have not been posting much on the forums although I have been lurking around. To be honest, I have not been trading Daz's method for a long while, I did not want to impose my trading method (ABCD1234) upon his thread. While largely similar in essence, they are still different in terms of rules, also, my trading is alot more discretionary.Ignored
DislikedThis is a nice set up.The Daily Looney looks promising.The direction or trend certainly south.Let see how this goes.
Dislikedwelcome Paddyp.If you know how this system works and how to manage risk , that all there is to it.Its simple and effective.Fib, trendline, candlestick pattern(Price action) will make your trade go beyond.
Why thousand of indicators are available , freely in most trading platform? To wreak havoc to your trading decision.Brokers love to mess around with our decision, make us loose.
Post in some charts , the guys here love to say a word or two.Teaching is a learning process too.Ignored
Disliked, "take care of the downside and the upside will take care of itself". One of the first things I do when I evaluate a trade opportunity is to identify the Stop loss. I always define my losses before looking for a confluence of patterns.Ignored