I saw this setting up so I put a plan together and executed with a SL and TP with at least a 1:3 RR. I have moved SL to BE and have moved my target down to better support area and improved RR.
All the best
Dane...
Great, buddy. But I'm wondering how do you draw the level? Don't make any sense for me why you draw your level right there. Can you explain it briefly? By the way, your chart looks a little weird for me
Not the same with the chart provided by the brokers I'm using.
I'm using Live in EXNESS and demo in Alpari. But both of them looks like not the same with yours. LOL
Hey there Anthony,
Good questions, I'll try and keep this brief...
Firstly when looking for important areas of supply and demand or resistance and support you have to look to the left on a chart and see where the market has turned. This is where the market is out of balance and there is simply more supply or demand. When that important area is revisited again there will still be either supply and demand so there is a good chance that price will reverse off this area. It doesn't always so you have to get confirmation with PA you're happy with....
In my observation. It seems any major pairs with the USD has a higher tendency to trend while the croses (ex. eur/jpy, gbp/jpy) tend to range more. To me it would seem logical to have more of a trending strategy for USD pairs & a range strategy for the crosses. It seem the horizontal levels of the crosses are more relevant the Usd pairs. I'm trying to develop a more keen eye for difference in USD pairs vs the crosses. I think i'm liking the crosses much better. Crosses seem more predictable when it comes to more exact points in supply & demand....
Just don't trade two pairs in the same time It will double up your risk. Just my opinion Happy trading
Hi Anothny,
How are you doing? . Hope the trades are going well.
just dropped in to to say hi.
Are you still having issues with Supply demand? Hope you are doing better.
Regds,
Zamfir
Hi Zamfir,
Nice to see you here
Ya, it's better right now(not perfect yet) when I follow the longer time frame trend, but sometime will still counter the longer TF trend when the level is extremely beautiful with a perfect arrival.
I'm in the school for around 12 hours a day, hard to find suitable time to trade right now
By the way, I'm still facing an stupid issue, Taking Profits.
How about you? I'm sure you are making big profits
Wish you all the best, buddy
LOL. i m not making any big profits. I am taking a break from live trading.
I was over trading.
trade safe.
-Wololo
USD/CHF.
Took 1 trade today after coming back from school. The price just hit my SL and shoot up. Arrrgghhh!!!
-14pips
