Long GBP/USD at round number support. The initial stop is 7 pips. First part closed at +3p, 2nd part at +8p. Stop moved to BE and with the last part of the position will try to participate in a short squeeze.
Big Picture Money Management 4 replies
Trend Following on Big Timeframes with Xumm 11 replies
Big jump or big drop ? 3 replies
BIG Money and news releases 4 replies
DislikedThis morning the central pivot point is capping EUR/USD but my sell levels are 1.4385 and 1.4400. Buy levels are 1.4325 and 1.4300. I will open positions around these levels only if the price action confirms the signal.Ignored
DislikedYou are right about the 1.4440. There is a barrier at 1.4450 and it should be protected. My long entry this morning was made with the idea that this barrier should be attacked. I didn't like the PA and missed the sort position.
The other level 1.4400 is round number and the swing low on 15M is 1.4402. I think that someone is trying to move EURUSD up in the last few days despite all the bad news from Greece and I prefer to trade from the long side. The news that IMO will not pay 5th tranche to Greece made the chart a little messy.Ignored
How do you know there is a barrier at 1.4450? Are barriers published somewhere and do they exist for all currencies? Can you find out when they expire etc etc? A calendar perhaps?
DislikedI don't watch the L2. I watch the quotes of my broker and 2 others.Ignored
DislikedSorry, I see you mentioned that back in post #50. I dislike when people come in a thread and don't read it b4 posting. I read it just slipped my mind.
Yes sometimes I will let a trade go buy my entry point because for some reason I think I will get a better entry on a slight retrace. Can't really say why, the price action just makes me feel that way. Although I just watch 1 broker.Ignored
DislikedGood morning srmfx,
thank you for sharing your way of trading, I have been reading your thread with interest. I like the way you drop down for lower risk entries once you have identified key levels - I do that similarly.
Here are some ideas that come to my mind, maybe you find time to explain more in depth :
a) I noticed your macd settings 1/20/9 - why this setting, have you tried others ? How do you use this ( possibly ) for confirmation of a setup ?
b) what exactly is a STE ? I know about early entries like the TTE by Ross. Could...Ignored
DislikedIt is almost impossible to explain exactly how I watch the quotes and use them as a filter but I'm working on a few videos.Ignored
DislikedSo, you are staring at 1 min charts for prolonged period of time, just watching how price moves up and down? Is it what you do when you are "watching quotes"?Ignored