GBP/USD. changing Direction.. Possible Downtrend starting... 
you are doing it wrong, look at the position etc, look at how does pin bar looks like, you isnt screamng, here i am, trade me. check pictures @ page 1
http://img196.imageshack.us/img196/7959/czj.jpg
http://img196.imageshack.us/img196/7959/czj.jpg
here the chart fill at TP was by slippage 35425. now is late I go for dinner, c u after I back in the night maybe{image}
- #5,107
- Oct 14, 2013 7:29pm Oct 14, 2013 7:29pm
Couldn't keep confidence in this trade and exited(due to several parallel bars formation) with no loss no gain..
I started off this week on the right foot, I got 20 pips on this one
. For sure not an A+++ PB (depending how much you zoom out, looks better on my chart than here), but decided to take it; when it was flagging I was ready to bail out, but after the last candle, I got the feeling it's gonna drop, plus I thought it was gonna go to the demand zone at 5940-ish (it reversed at the 5955 S/D flip zone though). Maybe not the best example, but again I am happy to have a winner early Mondays.
r u ready?
- #5,110
- Oct 15, 2013 3:36am Oct 15, 2013 3:36am
I really cant post it here, there are so many markets and so many time frames. You should work on ur plan and make ur own pattern how it should look like, i think it's just few pictures that u can use as a pattern for thousands of trades, just open you eyes ( and live your dream) :-) {quote}
Hi Jankone,
Its great to see your comments... This thread miss its Master
Jankone, 2 Qs,
1) Do you trade purely based on 5 minutes? Or take into cognizance the direction of flow in 15 Minutes Chart ? Or any other higher TF ?
2) Your strategy is purely based on PB, but Ryanmcd also considers signals like Engulfing and spikes at 21 EMA to flow with the trend. Do you still trade based on PB or have included some more patterns in your trading style. Please share !!
Cheers!!
Praveen
- #5,111
- Oct 15, 2013 3:52am Oct 15, 2013 3:52am
Hi Mates,
Normally we use a good PB + Divergence to take Counter-Trend but in my case, I found that not to be working in a few cases.. bad luck..
But Recently I have noticed a reversal pattern that I am finding suitable. Sharing the same.. Taken couple of trades based on the same.
The condition for this Reversal pattern is
(PB + Engulfing Bar) OR (Engulfing Bar + PB) in 5 Minutes or 15 Minutes Chart.
It is to be noted that PB and Engulfing Bar should be formed in Parallel.
Cheers
Normally we use a good PB + Divergence to take Counter-Trend but in my case, I found that not to be working in a few cases.. bad luck..
But Recently I have noticed a reversal pattern that I am finding suitable. Sharing the same.. Taken couple of trades based on the same.
The condition for this Reversal pattern is
(PB + Engulfing Bar) OR (Engulfing Bar + PB) in 5 Minutes or 15 Minutes Chart.
It is to be noted that PB and Engulfing Bar should be formed in Parallel.
Cheers
- #5,112
- Oct 15, 2013 5:39am Oct 15, 2013 5:39am
{quote} Hi Jankone, Its great to see your comments... This thread miss its Master
Jankone.. May we also ask 1 more Q related to Take Profit.. Do you suggest fixed Pips as profit targets Or TP in terms of Risk Taken like 1R.
Ryanmcd TP were normally 3R to 4R as seen in his trades...
Sorry in case you happen to explain this point at some place earlier..
- #5,118
- Oct 16, 2013 4:13am Oct 16, 2013 4:13am
You can use it on every time frame obviously. I use usually only rsi/with bollinger bands. (6 for rsi, 18/2 for BB ) about target profit it's usually some s/r levels, round numbers, u have to test it where u feel OK and what's OK for you. {quote}
Because of Small Time-Frame trading, What do you suggest or as per your trading style, should someone take a trade, set SL and TP and then forget the Trade... Or should someone keep watching movement of trade and adjust SL/TP or close trades manually as and when necessary...
I personally find it difficult not to keep looking into my trade and then sometime close trades pre-maturely.. sometimes I find that to be a good decision and sometimes think why I did that .. I should have allowed trade to flow ..
