Closed the trade at +34 pips... risk was -20 pips
Chance of a retracement from xx75 is high...
Chance of a retracement from xx75 is high...
DislikedM......... how can I validate your trade (or not) we I can't duplicate your chart. That's what really weird about this thread. As far as I know, nobody can match or use your indicators. Your retracement into a trend strategy is one I use every day in my own way, along with Vantage's HL/LH strategy. But I can't comment on your chart, because I havn't a clue what your MA's are or what the indicators below the chart mean.
I considered that short ,but there was no decent break of the xx50 level. That was my reason for staying out.
Great thread,...Ignored
DislikedHi M, Could you give me your thoughts on this chart of yours below.
From your chart it seems that price retraced to the MA's and that the bar marked in red rectangle closes bearish with a brown and red signal on the bottom 2 indicators. Im assuming the brown indicates a valid retracement to the upside in a downtrend and the red indicates a valid continuation. Any reason you did not take this particular trade if it is a correct setup (assuming) ?
Attachment
Cheers
DanIgnored
DislikedHi M, Could you give me your thoughts on this chart of yours below.
From your chart it seems that price retraced to the MA's and that the bar marked in red rectangle closes bearish with a brown and red signal on the bottom 2 indicators. Im assuming the brown indicates a valid retracement to the upside in a downtrend and the red indicates a valid continuation. Any reason you did not take this particular trade if it is a correct setup (assuming) ?
Attachment
Cheers
DanIgnored
DislikedHey Musashi. question for you. What is the first indicator below the chart that is used as a filter to keep you out of trades and what settings.Ignored