I'm trying to learn some more advanced techniques in my trading ... and analyse the charts in more depth witha view to spotting trend changes and adding additional positions as a trend develops.
I'm half decent and trading PA at coinfluenced areas on the daily, 4H and 1H time frames but found upon review that I exit winning positions too often and miss further opportunities to add my original position and vreat some nice %R returns. (also trying to learn the Rac, Trigger, Nasir style of trading too but this will take longer!)
I've got three positions in GBP / CHF with a 4th pending above the BUOUB.
1. The first trade was taken following the 4HR BUOUB off the 1.5900 area...we had divergence too and this was a good indicator that we might be seeing a retracement / trend change.
2. price made a series of higher highers and higher lows which backed up the trend change theory above.
3. Price broke the downward sloping TL and broke above the PPZ area @ 1.6100 forming a BUOB in the process. I added a position above the TL (1.6040) and another @ 1.6120.
In essence the bottom of this trend change was shown by nice price action with divergence and the HH / HL with a nice TL and regular breaking of PPZ has given us further opportunities to add some further small positions and now we have another BUOB - a break above off this should see price testing the 1.6300 PPZ area. All my stops are currently @ 1.6080
I'm half decent and trading PA at coinfluenced areas on the daily, 4H and 1H time frames but found upon review that I exit winning positions too often and miss further opportunities to add my original position and vreat some nice %R returns. (also trying to learn the Rac, Trigger, Nasir style of trading too but this will take longer!)
I've got three positions in GBP / CHF with a 4th pending above the BUOUB.
1. The first trade was taken following the 4HR BUOUB off the 1.5900 area...we had divergence too and this was a good indicator that we might be seeing a retracement / trend change.
2. price made a series of higher highers and higher lows which backed up the trend change theory above.
3. Price broke the downward sloping TL and broke above the PPZ area @ 1.6100 forming a BUOB in the process. I added a position above the TL (1.6040) and another @ 1.6120.
In essence the bottom of this trend change was shown by nice price action with divergence and the HH / HL with a nice TL and regular breaking of PPZ has given us further opportunities to add some further small positions and now we have another BUOB - a break above off this should see price testing the 1.6300 PPZ area. All my stops are currently @ 1.6080