DislikedYes. I placed a buy order 1 pip above the high last nite. Let's see what happens. I can't post a chart because I'm at work.Ignored
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- #163
- Oct 8, 2010 3:16am Oct 8, 2010 3:16am
you've just placed the order?[ thought you'd have done that b4 price hits point 2 of the 123.... So, if i get you right, you wait for 2 to be taken out first, then place a pending order expecting a pull back [which if so you'd been filled in ], or which high are you referring to now...point 2 or the new high?
- #167
- Oct 8, 2010 5:04pm Oct 8, 2010 5:04pm
I'm in GU long too, with the NFP around the corner, let's pray it turns out well....
Will look over the 4hr entry this w/end to probably start trading that too in the coming week....
- #168
- Oct 8, 2010 5:17pm Oct 8, 2010 5:17pm
This live trade that I took on the usdjpy daily chart was not exacly by the rules, but I entered it based on the monthly chart 123 pattern. I'm currently 91 pips in profit on this pair. Usdjpy is in a very strong down trend. Look at the charts below.
- #170
- Oct 14, 2010 4:50am Oct 14, 2010 4:50am
Price has reached my BE point on eurusd. I'm currently over 350 pips in profit on this pair.
Attachment
- #171
- Oct 22, 2010 4:29am Oct 22, 2010 4:29am
- | Joined Sep 2006 | Status: howard | 1,693 Posts
Regards
- #174
- Oct 22, 2010 9:02am Oct 22, 2010 9:02am
Very nice thread, a bit long term for me though.
If you are going to trade indi's MTF the way to go.
Ever considered taking trades earlier as you are trading trend and 4hr macd would have confirmed?
Specifically in this pic, at point x, rather than point 3.
- #175
- Oct 22, 2010 11:42am Oct 22, 2010 11:42am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
Hello Vantage and welcome. I'm honored to have you post on my thread. I've learned a lot from you about price action, and I hope that you'll contribute your insight on this thread. I haven't considered the early entry method that you've mentioned. Perhaps, you could post some chart examples to show us how to implement the early entry. Again, thanks for posting here.
5587 would typically be the entry you would consider, whereas 5530 would be the entry I'd look for, ie the move above the first positive close candle after the higher low.
I would look to buy a candle with little upper wick.
Anyway perhaps some chart time might be in order to see if earlier entry will pay off. As you are going with long term trends I'd think it would be worth it and you may not need to wait for the break of the high.
- #176
- Oct 25, 2010 12:02pm Oct 25, 2010 12:02pm
- Joined Nov 2008 | Status: Trader | 4,830 Posts
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- #178
- Oct 26, 2010 4:13pm Oct 26, 2010 4:13pm
The movements have slowed down over the past couple of weeks. I'm patiently waiting for a few set-ups. I'm currently watching eurusd, gbpusd, and audusd. We have points 1 & 2 established on all three weekly charts. But on the gbpusd daily chart, we might have point 3 established. We'll have to wait for conformation on the macd.
- #180
- Oct 27, 2010 5:33pm Oct 27, 2010 5:33pm
- Joined Nov 2008 | Status: Trader | 4,830 Posts
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