Currently in this trade having opened a position earlier. Entered at 37.14 as the level was last support on the daily t/f. Up 44 pips on this as of the close. Have my take profit at 35.72.
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DislikedAny ideas why this didn't bounce at the red level? IMO it might be because the price just missed it at the blue line and due to the heavy fall off after nearly reaching the level. Not really sure though. Any thoughts? Cheers.
AttachmentIgnored
DislikedThe Tom level is the first trade, I wanted to keep the 2nd trade in this post just in case you follow the Supply&Demand zones from Sam Seiden.
I like this trades because:
- They are with the Daily trend.
- The Entry levels are very good.
- The TP/SL are excellent very good Risk:Reward more than 1:5.
- The herd is very Long in USD/JPY.
- The buying Climax somedays ago.
Being a 5 stars trade I will risk 4% of my account in both.
here are the calls:
EUR/JPY
1er. Trade:
Entry Order (Sell limit)...Ignored
DislikedAny ideas why this didn't bounce at the red level? IMO it might be because the price just missed it at the blue line and due to the heavy fall off after nearly reaching the level. Not really sure though. Any thoughts? Cheers.
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DislikedAnyone up for more Aussie cross fun?
I'm keeping an eye on the 1.318-1.32 zone, AUD/NZD...fibs, SR.Ignored
DislikedTom, I see that the $EURJPY short did not have confluence with the ATR, in fact it was quite far away. However, the level was a good level. Will you typically take a rounded retrace trade without the ATR to support it if the level is good?
GrantIgnored
DislikedI nearly forgot about this level I marked last month..
Only 50 pips to the good so far and it did take some drawdown - so perhaps not the best level ever..
But once again validates Tom's method..and being patient zzzzz
Sorry for the poor screen shot - couldnt fit it clearly on the screen..
Anyone - see anything else on the horizon???Ignored
DislikedI had marked this one too. But I personally stayed out of this because we had 5 bounces within 30-40 pips of this level. So my thinking was if price breaks support at 1.5880-1.5890 and tries to reach this level (1.5850), it probably goes further down. I hope it works for you though.Ignored
DislikedHi All,
USD/CHF looks interesting with confluence on 0.8890 area, also FibR 61.8 and Resistance with TL Resisting there...
In fact, the FR50 also lines up with a higher Resistance level...
keeping my eye on this one... Targets might be influenced by Day levels 0.87 and 0.8730 (200day ma)...
Trade Safe
Trade in progress: +40, @ BE, letting 50% run after R:R 0f 1:2Ignored