wow. Holiday!! Haven't had one in a while. Enjoy yourself and have loads of fun man!
Hope to see you back here soon mate!
actually, I'm getting no sleep before the airport bus in 3 hours.... my email alerts went crazy for the GJ and GU and I jumped out of bed!!...
I set the alerts for 10 pip increments so it was like a pinball machine going off!!! hahaaa
wow! that was quite good. I picked up part of each trade.
Anyway, before I go I wanted to share something that might be useful for people getting in late on a trade, (who may not know this trick).
on my chart, you can see 4 arrows.
I use the fib tool and draw a line from the bottom of the first drop before the retrace (arrow 2) to the top of the drop (arrow 1).
wait for the candles to cross the 61.8 fib line (in this case they made it to 50.0 but I waited for the 2 dojis to close) then I enter on arrow 3 at 61.8.
I set my first TP at the 161.8 line based on how high the retrace was (61.8).
Because it kept dropping I ended up taking profit close to the 261 line on the fib I drew (arrow 4) before the next retrace.
I know a lot of people jump in early on trades, but this actually is a good way to play it a bit safer if you don't want to gamble on how the pair will move, .....or get in late when you're half asleep, like I did.
LOLBecause the bars were running under my triangulated MA (purple line), the MACD was over bought, and the peak had solidly crossed the bolli band, all the signals were clear to get in when I did.
Maybe this will come in handy for people who feel like they missed a trade by not getting in at the start, to find a good entry point and set a solid TP.
It works a lot of the time for me...
cheers!
Dilli
Thank god I'm not going to the States. I'd get creamed on the exchange rate. 92.7 to the yen... yikes!
