Are you willing to trade those two BRN's both long and short if a trade develops? Is there a particular scenario you perfer more than the other? I just wanted to get a more in-depth view of what your thinking, sorry to be so fussy.
Thanks
james16 Chart Thread
- #124,745
- Apr 15, 2013 4:23pm Apr 15, 2013 4:23pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
- #124,752
- Apr 16, 2013 4:58am Apr 16, 2013 4:58am
Hey guys,
I saw this trade as a BUOB and thought to observe it as see how it pans out. In the real world i would've taken this as a trade, as to my logic it formed a buob at a nice support area market seems to be a consolidating and price previously has bounced off this area before on a number of occasions. However today (granted the trade is still not over and i would still be in it) the market seems to be very bearish. Have i missed anything that is glaringly obvious? Would love some enlightenment.
I saw this trade as a BUOB and thought to observe it as see how it pans out. In the real world i would've taken this as a trade, as to my logic it formed a buob at a nice support area market seems to be a consolidating and price previously has bounced off this area before on a number of occasions. However today (granted the trade is still not over and i would still be in it) the market seems to be very bearish. Have i missed anything that is glaringly obvious? Would love some enlightenment.
- #124,753
- Apr 16, 2013 5:40am Apr 16, 2013 5:40am
Hey guys, I saw this trade as a BUOB and thought to observe it as see how it pans out.
in my opinion we´re right now in sideways market and this buob is in traffic. Personally I would not take this trade because FTA is really close and seems pretty strong to me (check my chart), I tried to show with arrows how many problems price had here before. And finally, the trade would not be triggered, highs of both candles are the same (at least on my FXPro feed) so if you use some kind of buffer you´d be ok (but it depends on what kind of entry technique you use). Anyway, this is just my opinion, I´m still newbie
Hope this helps you a little
Mav
- #124,754
- Apr 16, 2013 6:39am Apr 16, 2013 6:39am
in my opinion we´re right now in sideways market and this buob is in traffic.
Personally I would not take this trade because FTA is really close and seems pretty strong to me (check my chart)
And finally, the trade would not be triggered, highs of both candles are the same (at least on my FXPro feed) so if you use some kind of buffer you´d be ok (but it depends on what kind of entry technique you use).
1. wait for a retracement and then enter, i feel comfortable with a 50% retrace but I miss quite a few trades so happy with a 38% retrace,
2.if the candle is small than i'd enter on close
Anyway, this is just my opinion, I´m still newbie
Hope this helps you a little
Makwana
- #124,755
- Apr 16, 2013 6:40am Apr 16, 2013 6:40am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Hi makwana, in my opinion we´re right now in sideways market and this buob is in traffic. Personally I would not take this trade because FTA is really close and seems pretty strong to me (check my chart), I tried to show with arrows how many problems price had here before. And finally, the trade would not be triggered, highs of both candles are the same (at least on my FXPro feed) so if you use some kind of buffer you´d be ok (but it depends on what kind of entry technique you use). Anyway, this is just my opinion, I´m still newbie
Its a BUEOB bar on my fxpro feed.
However, it never actually triggered as price did not exceed the high.
If we add a 10-15 pip buffer on the daily, we would not have been in this trade anyway.
- #124,758
- Apr 16, 2013 10:07am Apr 16, 2013 10:07am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #124,759
- Apr 16, 2013 10:14am Apr 16, 2013 10:14am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
