Hey tritom,
On pt. number 8, if I remember correctly div. said you still can take the trade if the setup bar is over 18 pips long but you still use a stop and tp of 18. I might be wrong on this, will have to watch video again.
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Hi Toothman I believe this was in the past rules w/26 pip (as an option only and to be taken with care) max stop size but not now. Market tends to pull back on momentum then continues, EU moves in 20pip blocks for the most time (not out of my head, I have read it in some article about market microstructure) so it makes sense to pass on these large candles, from what I have seen there's a pingpong scenario many times especially at beginning of a move or inside flags when there's volatility. It happened to me a few times I took a setup bar then it triggered immediately but pulled back once more just the candle size then shoot to target. As long as the stops were above/below swings or flags they were not so prone to get stopped out with reasonable BUT too early entries.
when price gets in the sideways game its best to wait for breakout pullback senarios otyherwise they will trap you inside there vortex news at 10
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Yeah, that vortex is strong at times. Just like "The Force." It is strong inside the Forex Vortex. Just like the "Tractor Beam." Once it grabs you it is almost impossible to get out. Time to put on the thrust reverser and get out.
price is now 54- 26 vortex area so if the game is find the trend well there aint one right now maybe after the news it will refuel and go somewhere it also could be that with some banks closed trading is a little thin
price is now 54- 26 vortex area so if the game is find the trend well there aint one right now maybe after the news it will refuel and go somewhere it also could be that with some banks closed trading is a little thin
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Yes, the evil over trading force is strong in the vortex, must not over trade, must run away with a little green guy (yoda) on my back as far as I can. Maybe then I will learn the true meaning of the vortex force and stay away.
Time to run to the laundry machine, dishwasher, and vacuum to stay away from the vortex. Come back after the news.
if not for news there was a little 123 at top that just scored a win why dont they do news at 1230 every day so i dont have to worry about widening spreads grrrr look where it stops at bottom of the range
looks like the forex master is playing with his yo-yo, or is he trying to play with us yo-yos
back to back 17 pip bars,in opposite directions during a sideways mkt, "come on man"
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Joined Feb 2010
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Status: Saved by Grace
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You know what Div - I was wrong. I entered too early before a valid set up bar. My mistake. Just happened to go my way.
I'll be more careful next time.
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
I probably shoudn't take this this flag since we didn't see a pullback to 54 after it was taken out. I'm still used too much to look at "bigger" s/r from recent week and that one was after 76 has been taken out and pulled back then a momentum candle and that lured me into the trade, but maybe that was no momentum but exhaustion instead.. big number above us so bailed out with 3.5 pips as soon as it was clear this one won't be a quickie. I have to admit it's a huge difference in feeling to have the stop below the bar but 1 or 2 pips above swing, price often likes to have its exact pip when pulling back and it often retests the lvl more than once.
I probably shoudn't take this this flag since we didn't see a pullback to 54 after it was taken out. I'm still used too much to look at "bigger" s/r from recent week and that one was after 76 has been taken out and pulled back then a momentum candle and that lured me into the trade, but maybe that was no momentum but exhaustion instead.. big number above us so bailed out with 3.5 pips as soon as it was clear this one won't be a quickie. I have to admit it's a huge difference in feeling to have the stop below the bar but 1 or 2 pips above swing,...
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tritom,
This is a good reason for me not to do away with the RSI. Divergence had formed here so I would have stayed out.
