EURJPY will break out soon. But to which direction? I am waiting for some confirmation.
113.19 is an important S/R level
113.19 is an important S/R level
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DislikedEURJPY will break out soon. But to which direction? I am waiting for some confirmation.
113.19 is an important S/R levelIgnored
DislikedEURJPY looks confused a bit... Its expanding at the moment, it may ranging for hours. I would not make an entry in this session.
Let the market decide.Ignored
DislikedPrice is being moved up ahead of High Impact release upcoming in minutes. Removed SL. Might add to short if it goes really high.Ignored
DislikedStopped out, -20 pips. After I got in, the market just languished sideways forever. I probably should have gotten out with a smaller loss, but I held on hoping it would break to the upside.
Any feedback would be appreciated.Ignored
DislikedI was reading thru early posts last evening and thought to make a post on EP, as a refresher for Sonikers and folks new to Sonicdeejay's thread.
Sonicdeejay has stated that EP should be decided upon after the candle that runs out of the Dragon is closed, and that EP should be beyond the close of that candle. He has stated that he prefers to select an EP that ends in the numbers "4" or "7", and he also states that he prefers to select an EP that is a mnimum of 10 pips beyond. Reflecting on this, EP should be no closer than the next price that...Ignored
DislikedLet's recall, however, that when Sonic launched this thread, currency pairs were moving hundreds of pips/day - extreme volaitility due tot he finanicial crises of 2007-2009.
Since current volatility is less than half what it was then, so a 5 pip EP or 2x's spread (whichever is greater) is probably a sound distance to place your entry stop. This can be adjusted over time as volatility either contracts further or again expands.Ignored
DislikedLet's recall, however, that when Sonic launched this thread, currency pairs were moving hundreds of pips/day - extreme volaitility due tot he finanicial crises of 2007-2009.
Since current volatility is less than half what it was then, so a 5 pip EP or 2x's spread (whichever is greater) is probably a sound distance to place your entry stop. This can be adjusted over time as volatility either contracts further or again expands.Ignored
Dislikedhi guys:
very sphisticated system!! I agree with ddaytrader's idea of adjusting the EP base on volatility. one thing I haven't got clear idea is the trading hours. Sonic suggests EST 1 am to 4 am and 7 am to 11am. is this time base on system backtest? or just pure trading wisdom? If this trading time was base on system backtest, then should we review it when the volatility change? or when we trade the AUD related pairs and stock index? (Sonic mentioned that he trade Hong Kong HSI)
hope your guys have discussed this issues before, and advsie...Ignored