DislikedSorry I meant to ask how you would have entered if you were not already in the trade, but basing it solely on PA arounf the mid-point of the range. However your answer is good enough. Did you enter
above C solely based on the pin-bar and Fib retracement ? Also, if you don't mind , how do you decide on the SL for that particular trade ? Targets are based on Fib extensions right ?
TaIgnored
- #435,122
- May 4, 2011 8:46am May 4, 2011 8:46am
- | Joined Nov 2008 | Status: Trader | 2,055 Posts
this is where my weakness is. i don't want to counter trend trade and closed my long at 4925 ... so i ask myself do i buy or wait for a lower low. until i can see direction, on the side
And if they don't you don't lose any money.
- #435,124
- May 4, 2011 8:46am May 4, 2011 8:46am
- | Membership Revoked | Joined Sep 2007 | 4,407 Posts
can u say me 1H MA settings?
- #435,125
- May 4, 2011 8:49am May 4, 2011 8:49am
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
The answer to that is to scale out (take partial profit). Take most of it out, leave a small "greedy" lot and let it ride. Over time these "greedy" lots make a lot of money. They really reallly do.
And if they don't you don't lose any money.
Yes targets are based on fib extentions. Trade was entered based on the pin bar that formed on the 50% supported by bullish hidden divergence. My stop was a m5 close below the 78.6 fib because a close below there would also be a close below the 50 and 200 ema and the risk of it going down further would be great.
- #435,127
- May 4, 2011 8:51am May 4, 2011 8:51am
- Joined Apr 2011 | Status: Hiroshima and Nagasaki | 8,060 Posts
looking for investors . pm me
- #435,138
- May 4, 2011 9:06am May 4, 2011 9:06am
- | Additional Username | Joined Aug 2010 | 1,745 Posts
