Nizdraw
Use the pivots provided here: http://www.forexticket.co.uk/en/tools/03-01-pivot-point
You can select which you want to use but the most used coincide with NY close thus set table to GMT +2
- #8,723
- Jan 7, 2013 9:08am Jan 7, 2013 9:08am
- Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
- #8,724
- Jan 7, 2013 9:15am Jan 7, 2013 9:15am
- Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
You trade against H1.50? This H1.50 has acted as a clear resistance once, not a good sign IMHO. Better way is to wait to see price pierce through the H1.50 and retrace back to long.
Agree with you.
I added at the 1st M15 EMA10 too, and both at TP, but I am not happy at all with this trade.
Was not picky enough.
For your mentioned reason and also becuase my 1st entry was at previous S/R level not clearly broken yet.
To achieve a TP doesn't mean at all to have executed a good trade.
Gotta be more picky too...
- #8,729
- Edited 3:10am Jan 8, 2013 2:23am | Edited 3:10am
- | Joined Jun 2012 | Status: trade forex like a sniper | 2,419 Posts
On my way to financial independence - if others can do it - I can do it
- #8,731
- Jan 8, 2013 6:26am Jan 8, 2013 6:26am
- Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
- #8,732
- Jan 8, 2013 8:30am Jan 8, 2013 8:30am
- | Joined Jun 2012 | Status: trade forex like a sniper | 2,419 Posts
On my way to financial independence - if others can do it - I can do it
Hey Eur Usd, I think we have a point where 2 strong forces have met: H4 confluence of first touch for a move down and other of D1, W1 move up which happened yesterday. Maybe US open will set a direction because now it is undecided.
I am not a great analyst, but somebody could also see a bearish flag on Weekly.
If you look at the post above with the Daily S/R line (# 8740) you will see that it was somehow "predictable", or at least with an important % of possibility to turn short.
I hope somebody got that short on the Constraiment of H4 and that Ema10 Daily Touch and S/R Level.
(I not
)Important is: to be always ready to be wrong as well
Not to discuss that the Weekly TF looks Bullish at the moment, but looking on the left and at the Pin Bar, I would not exclude that also Weekly will soon agree with the Idea of the Daily and H4 (short).
I am not a great analyst, but somebody could also see a bearish flag on Weekly.
If you look at the post above with the Daily S/R line (# 8740) you will see that it was somehow "predictable", or at least with an important % of possibility to turn short.
I hope somebody got that short on the Constraiment of H4 and that Ema10 Daily Touch...
Mentioning the H4 and D1 confluence, there surely was a double top on M15 formed so it would been "by the rules" but those are scary sometimes to take 
Edit: I'm short from 3085
I at 1,3086
This is also something I look at.
Several Times our Emas are in confluence with S/R levels.
That makes this Strategy strong and solid too !
Here is where I have still problems...
TP should have been the S/R Level ?
BE now or wait to "breath" ?
Trailing the M15 candles as Clay did ?
We are getting a lower low...what to do ?
Need still some experience in managing the trade....
I know that Master Kostas says: "take and run" and agree of course also with his concept, but how to "let it run" properly... ???
Edit: I moved at BE.... " Reduce the Risk, Whenever...reduce the risk... "
TP should have been the S/R Level ?
BE now or wait to "breath" ?
Trailing the M15 candles as Clay did ?
We are getting a lower low...what to do ?
Need still some experience in managing the trade....
I know that Master Kostas says: "take and run" and agree of course also with his concept, but how to "let it run" properly... ???
Edit: I moved at BE.... " Reduce the Risk, Whenever...reduce the risk... "
Here is where I have still problems...
TP should have been the S/R Level ?
BE now or wait to "breath" ?
Trailing the M15 candles as Clay did ?
We are getting a lower low...what to do ?
Need still some experience in managing the trade....
I know that Master Kostas says: "take and run" and agree of course also with his concept, but how to "let it run" properly... ???
Edit: I moved at BE.... " Reduce the Risk, Whenever...reduce the risk... "
- #8,739
- Jan 8, 2013 10:21am Jan 8, 2013 10:21am
As for myself, I favor the concept "take and run" , so I exited manually at +10. Add one more choice: control trade by watching M5 P/A, paying attention to M1 candle sizes and if we see that price is stalling at M1 - getting out...
Agree with you, closed at +19.
Price is quite sitting on the S/R line... candles are all but trend...
Whatever will happen now: it's time to go.
No greed accepted in this world !
Next.
