CW have I got these pin patterns correct?
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DislikedDrebin,
This isn't meant to offend you. Just a tip that someone gave me and I want to pass on.Ignored
DislikedHow you guys trade on Fridays? You guys let it run? or close the trade (Whether possitive or negative) at the end of the day?
I don't really enter into any new position on Friday.........but today i have a running trade with negative pips (unfortunatly), wandering what to do especially with this method......
-happyTrading-Ignored
DislikedI've seen a strange strange thing this week.
GU goes down then holds. EU goes down like a stone. And still EG goes down.
All cause EG was at 0.86. PPZ's are king. BEOBs, pins are like Moving averages or any other kind of indicator. They are after the fact and only tell you where price was.Ignored
DislikedLet it run, I've had trades that have been open for weeks. One important note to watch though is the swap. If you're trading a pair that has a negative swap and it's not doing much you can run up a big bill your trade may not ultimately cover if it does go down.
If you're trading within your means (ie sensible position size as we discussed the other day) then you should be fine but worth mentioning.Ignored
DislikedThank you Man....your insight always appreciated....yes, i already set SL....i am going to let it run....hope it will end up with some good +pips...
-happyTrading-Ignored
DislikedI am shorting AUD/USD......as CW pointed out 0.8000 seems to be strong s/r level.Ignored
DislikedLooks ok on the 4 hr but go to the daily chart, zoom it out a couple and draw an upwards trendline along the bottom of the candles/bars. That's what you're trading against.
My point is I'd want to see more confirmation of the start of the downtrend. It doesn't mean I think you're wrong, just premature. That trendline isn't that strong either but it's definitely in an uptrend and 0.8000 is going to either reverse the trend or it isn't but nothing at the moment is telling me either way.Ignored
DislikedNo worries, don't worry about it too much at the moment but don't have your stop loss much above 0.8000. It'll either go your way and break below that trendline or it'll stop you out for not too much and you'll have had a VERY GOOD LEARNING EXPERIENCE. (if not such a good trading one)Ignored