just trying to figure out if my approach is completely wrong. stops at the bottom of the range...don't really like how the trade goes against me for some pips though
peace and love
steph
peace and love
steph
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DislikedTwo trades for the day....
1st trade.....following LO....candle close above the 10EMA...TP 20 pips.....SL 10 pips......closed trade for +9 pips.
2nd trade.....price consolidation....nice pullback bar on H1 (already mentioned by Emmanuel and others)....entered on a cross of the 10EMA......TP20....moved to 50 on strong price action.....SL 10......target of +50 hit.
No trades during NY but looking at the chart....another possible 40+ pips back to the 200EMA....Entry would have been on a close above the 10EMA and pull back above the daily trendline...Ignored
Dislikedjust trying to figure out if my approach is completely wrong. stops at the bottom of the range...don't really like how the trade goes against me for some pips though
peace and love
steph
AttachmentIgnored
DislikedHey Steph..
Just wondering are you working with these range break outs to try and hold for longer term?
I've always liked the idea of range break outs as they are great for stop placement and to trail trades as a solid support to keep price away from your stop..trying to get a runner is the tricky bit..have you had any luck with getting the runners if you are attempting this type of trading..any ideas or would you be moving stops up under S/R areas along the way?
Trying to get through reading this thread and then Gibril's as I think Gibril's...Ignored
Dislikedkeeping the runner is doable in trending market. we are stuck in a range now. wait for the market to decide. either up or down.
moving sl should be at the next consolidation top or bottom.Ignored
Dislikedkeeping the runner is doable in trending market. we are stuck in a range now. wait for the market to decide. either up or down.
moving sl should be at the next consolidation top or bottom.Ignored
DislikedThanks Pkimnyc..
In general was there any other ways of getting the runners or you feel the markets don't stay in a trend as long to get the follow through moves?...or is it just a matter of trail the stop up under the HH and HL areas and see where the market takes us?Ignored
Dislikedyou can if you can identify the short term trend and be done with that cycle, but i'd rather focus on higher tf to decide then keep the runners. daily, weekly. important thing is.... when stuck in a range like this, there's no clue when this thing is going to break out. if kept the runner from the bottom then you have no trade for over a month.Ignored
Dislikedyou can if you can identify the short term trend and be done with that cycle, but i'd rather focus on higher tf to decide then keep the runners. daily, weekly. important thing is.... when stuck in a range like this, there's no clue when this thing is going to break out. if kept the runner from the bottom then you have no trade for over a month.Ignored
DislikedThanks for this
What would be your course of action for holding an instrument that bit longer...
Would you be looking at the Daily, Weekly TF and then using the 4Hr or 15min TF to trail behind the HH and HL areas or be looking for the dominant S/R or congestion areas to trail your stop up using the 10ema and 200ema as a confluence your in the right direction still on a certain TF?Ignored
Dislikedi like this more to the long side on fundamentals from here...apple pinbar, Spain probably asking for it this week
greece and italy look tricky at the moment, but if it breaks 1.2825 and Dow 13,000 then lots of room to the downside
don't think that play is in the cards behind the scenes.....real upside may be after US elections but a lot at take for a LOT of hedge funds
my take for what that is worthIgnored
DislikedHi guys,
Here is the document with pkimnyc posts (also his replies to traders asking him questions) - this trader's market knowledge is very strong! We are blessed to have him here... I am attaching the word version, so you can add his future posts yourself. Download this file if you would like to know more on how volumes, divergences can help you with your trading (in addition to everything else we learned here).
Thank you pkymnc, I learned a lot new things today, especially when applying your knowledge and performing some back-testing with...Ignored
Dislikedyes, for now... long side is favorable with that pin. however, one thing that concerns me is those humps. let's see. weekly momentum is to the upside still.Ignored
DislikedHey ForexNerds..
You've done it again!..BIG thanks again for all your great work and taking time out for helping all of us in here
Cheers,
AdrianIgnored
Dislikedthis was the actual trades taken 2 years ago. pink lines indicate how the sl was moved.Ignored