Here's M5. The levels in blue may well turned price but these are more 'speed bump's for me. I'd be more comfortable taking shorts and see if any fresh M1 levels form during the session.
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DislikedC-12,
Thanks a lot .. very kind of you.
R
Is the EUR/USD your main pair?Ignored
DislikedPeter, I tend not to look for specific M1 levels so far out. For M1 I'm mostly looking on what I can see on my immediate screen.Ignored
DislikedTakes a lot of intuition to take the second touch, I'm too scared to take anything but first touches, but in essence I never trail the positions and have fixed exits before I enter.... passive I know!Ignored
DislikedHere's M5. The levels in blue may well turned price but these are more 'speed bump's for me. I'd be more comfortable taking shorts and see if any fresh M1 levels form during the session.Ignored
Dislikedhi C-12,
would you mind updating if you have added new M1 level....Thanks
Studying through your thread and writing down all my questions ...
regards
RIgnored
DislikedSure. I think shorts are still in order.
Alright. I want to share how I take a loss since I just had one!
I went long (against my own earlier judgement) after a rejection pin. I then saw some ugly price action (red arrow) so bailed on one position so then brought up my second stop behind the lows.
So while my initial stops is fixed at 6 pips I will happily bail earlier. It's vital to cut losers fast!Ignored
Dislikedhi C-12,
would you mind updating if you have added new M1 level....Thanks
Studying through your thread and writing down all my questions ...
regards
RIgnored
DislikedHey all
Trade Management
1.
- Initial stops are always 6 pips but can be reduced if the level is small
- 1st position take profit is always 6 pips (sometimes more or less depending on nearest S/D level)
2.
Tools
- Daily, Monthly, Weekly Pivot (only as reference sign posts on multiple time frames, never for trading decisions)Ignored
DislikedI have got hold of an awesome new tool for identifying multiple timeframe S&D levels on the one chart. I'm just testing it now with my Alerter4U but I'm really excited about the potential of this!!
Will update this when I'm happy it's working properly.Ignored
DislikedOh yes....
I'm pleased to share this awesome indicator. It is similar to Gilben's Clean Cut cubes but you can highlight specific colours for individual time frames.Ignored
DislikedOh and I'm also hosting a thread over at Ace Gazette (www.acegazette.com) where you'll find a ton of other awesome Supply & Demand traders.
Get yourselves registered.Ignored