I put a PO on this 30M chart... the zone was drawn on the M5 where there's a nice consolidation area
opinions please...
opinions please...
Day Trading vs. Swing Trading vs. Position Trading 86 replies
Dislikedhi bali2002,
Pardon my ignorance but could you please explain how you draw the demand zone? Thanks.
Regards,
KingIgnored
DislikedThanks, Ken, great charts. I have a question though, given euro's strong down trend, when you are long on its way up, how would you decide that it would not end at a previous support level broken such as 2270 on the current chart? This has always been an area of hesitation for me in trading with this kind of setup, not sure which side of supply/demand to take for more importance. Your view will be greatly appreciated.Ignored
DislikedHi KL,
What's the general ratio (open-close range?) that you look for between the momentum bar and bar prior to it?
Thanks.
Regards,
KingIgnored
DislikedI don't look at that in so much as i look at the total move away. How far price has moved since it left a level. I is preferred that price shoot away and a large exit is seen but that is not always the case. I take into account factors such as time of day , news releases and such . The odds enhancers in the end of the pdf give you a good place to start when choosing levels . very basic and to the point.
Then with more experience you can add your own flair to it. I can and do take trades during times of the dayothers would not even look for one....Ignored
DislikedYou don't unless your great at telling the future. That would be your first tp level.
That is some of the personal part of trading deciding when to take profits or hold, You have choices to make then. You take the profits and be happy. You move your stop to Breakeven and look for a higher move. Or you take a partial profit and move to breakeven and maybe add that 1/2 back to your trade if it retraces .
The choices depend on the trader and what each goals are. The person living off trading will have different goals to a person using trading as...Ignored
DislikedTo my eyes that's a second touch from the previous demand zone...?Ignored
DislikedTo my eyes that's a second touch from the previous demand zone...?Ignored