EU pattern H&S ??
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- #56,442
- Aug 15, 2013 4:13am Aug 15, 2013 4:13am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
3 Dragons gbpusd Missed the entry bar (red arrow), and don't like paying spreads, so left a limit entry order, which got filled a few minutes later. The red WRB 13 minutes earlier, with high volume but no follow through was the 'pay attention bar' to scope for a long entry. {image} b/e {image} done {image} +2.7RR (was going to close manually 5 minutes before eco number release but got lucky with a quick spike)
My decision to bank before the data cost me a few pips and then I sold half a position the high at the MR 2 level of 5587, looking for the R1 area / 5m dragon
Trading Levels with WRBs
- #56,443
- Aug 15, 2013 4:24am Aug 15, 2013 4:24am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
EU short trade {quote} One week ago added sell #8,9,10 and last night added sell #11 (while I was sleeping), adjusted TP. {image} {image} {quote} GU short trade {quote} Added (last week) sell #8,9 {image} Profit actual +915 pips. {image}
EU short trade update (open since 12.07.2013)
12 short trade elements still open, seems to become a longterm trade ...
DD currently 1155 pips.
{quote} EU short trade Added scout short #7 Bearish MM's are pushing price above 3/4 number with high volume. {image}
GU short trade update (open since 12.07.2013)
12 short trade elements still open, seems to become a longterm trade ...
DD currently 3050 pips.
{quote} GU short trade Added scout short #6,7. Same reason as EU, PVSRA indicates that MM's are still Bears. {image}
- #56,445
- Aug 15, 2013 4:31am Aug 15, 2013 4:31am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #56,446
- Aug 15, 2013 4:38am Aug 15, 2013 4:38am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #56,447
- Aug 15, 2013 4:46am Aug 15, 2013 4:46am
{quote} Nicely done
at this stage...
- #56,448
- Aug 15, 2013 5:05am Aug 15, 2013 5:05am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} Thanks, I'm still getting to grips/comfortable with the counter trade, especially as if there has been no immediate move back to the dragon. As time progresses it eats away at the trades profit potential, and then you are ultimately put in the position of re-entering looking for a continuation trade. Still a work in progress so I'm bit of a
You are correct and most of the time its best not to try and counter trade - here, having the MR 2 level and price extended, that sell allowed me to bank a few pips - and likewise with that last buy - just closed after the 1m LH for a few more.....time for a break....
Trading Levels with WRBs
Trade update:
AU: Added scouts 7-10
GJ: Added scouts 1-7
EU: Added scout 35
All pairs show BEAR action as price is driven up above key SR levels. Something smells fishy and so I've taken the opportunity to get a better average price!
-qFish
AU: Added scouts 7-10
GJ: Added scouts 1-7
EU: Added scout 35
All pairs show BEAR action as price is driven up above key SR levels. Something smells fishy and so I've taken the opportunity to get a better average price!
-qFish
insanity: Doing the same thing over... and expecting different results -AE
- #56,453
- Aug 15, 2013 7:28am Aug 15, 2013 7:28am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
GBP/CHF Price up!added 2 scouts more. TAH, tell me if i wrong with this {image}
Bears to me. Sell off Asian session and now LS MMs pushed up thru half SR for more trading.
- #56,454
- Edited 7:59am Aug 15, 2013 7:39am | Edited 7:59am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
Whatever is obvious is obviously wrong!"
- #56,455
- Edited 8:10am Aug 15, 2013 7:51am | Edited 8:10am
GJ Short Trade: Added short #1 - #2 I will intend to add more shorts if MMs will pump the price higher. Otherwise I'm starting to add sell stops. {image}
And I am scared about USD, it gets stronger but releases aren't pretty good.
- #56,456
- Edited 8:14am Aug 15, 2013 8:01am | Edited 8:14am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} God must help me, I am swiming in the shit sea. I added shorts too soon so now i must wait.
You and me, both. I have added more also (GU and GJ). PVSRA continues to indicate the MMs are bears. This is a good example of the fact that while we can know if the MMs are bulls or bears, we can never know how far they will manipulate the price nor when they will reverse.
The stinking MMs are really stretching their budgets to wipe out weak hand shorts! (Not really, as they have unlimited computerized "money" (fiat credit) to dump into the support of their plays).........the ultimate in trading very light relative to "account" size!
BTW, God might or might not help you, but trading very, very light relative to account size will!
- #56,458
- Aug 15, 2013 8:18am Aug 15, 2013 8:18am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
The hardest part... is to be in profit, and let it run.
{quote} Indeed! When some of these truly take off on their reversal moves, we might be sitting on our hands for days, maybe weeks to come......doing nothing but recalculating our increasing profits!
But when I saw tymedu actual added shorts/longs with actual loss about 200 pips. I feel better
