Disliked{quote} I entered the EJ short on the 8:00 GMT candle, still in at the moment.Ignored
- #28,142
- Edited 11:05am Dec 10, 2013 10:39am | Edited 11:05am
USD/JPY BOOM. Trade closed for easy pips. Entered a little bit late so missed out on a little extra pips. How much simpler can this system get ?{image}
UPDATE: I am expecting on a retrace on 36 fibo level after pullback. If it goes to the 50 fibo level i will add more positions. Using a "broken" laptop so I am unable to take a screenshot at the moment. Will share results afterwards and whether or not I made the decision and exact reasons behind the trade.
Take what the market gives you.
Hi everbody,
Made two trades today on EUR/JPY. The first trade (short trade) made +34 pips, and the second trade (long trade) made -33 pips. So I earned just one pip today
Trade 1: I draw a big Fibonacci for the big long move in EUR / JPY and set my TP to 0.786 fibo. TP was hit.
I recognized a bearish divergence and the cross of green with red and yellow. Some other Traders posted the reasons for taking the trade here
Trade 2: I thought the price will go to the 100.00 fibo point. I thought that a little correction should be everything, but i was wrong.
The green line of TDI indicator was pointing up, so I thought in connection with the indecision candle before the blue candle the price should rise up.
When the blue candle appeared i was waiting. And i donīt know why.
If i have entered at the beginning of this candle i would made +21 pips, so i could take my SL to BE and i would still have my profit from Trade 1.
When you have any comments or help for me, so please feel free to post it.
Best regards,
FX94
Made two trades today on EUR/JPY. The first trade (short trade) made +34 pips, and the second trade (long trade) made -33 pips. So I earned just one pip today
Trade 1: I draw a big Fibonacci for the big long move in EUR / JPY and set my TP to 0.786 fibo. TP was hit.
I recognized a bearish divergence and the cross of green with red and yellow. Some other Traders posted the reasons for taking the trade here
Trade 2: I thought the price will go to the 100.00 fibo point. I thought that a little correction should be everything, but i was wrong.
The green line of TDI indicator was pointing up, so I thought in connection with the indecision candle before the blue candle the price should rise up.
When the blue candle appeared i was waiting. And i donīt know why.
If i have entered at the beginning of this candle i would made +21 pips, so i could take my SL to BE and i would still have my profit from Trade 1.
When you have any comments or help for me, so please feel free to post it.
Best regards,
FX94
- #28,145
- Dec 10, 2013 4:18pm Dec 10, 2013 4:18pm
Hi everbody, Made two trades today on EUR/JPY. The first trade (short trade) made +34 pips, and the second trade (long trade) made -33 pips. So I earned just one pip today
You was actually at the 23.6 fib retracement see below I have added picture.
Also in the picture you first trade was good because TDI green was under red under yellow.
Your second TDI green was over red but under yellow. not great.
Stick to high probability trades, where PA and TDI are line up together!
Patients is key!!
Give yourself a chance and trade it like it's layed out...
{quote} Just a couple of things The fib tool you was using should be for retracements and you have it upside down. You was actually at the 23.6 fib retracement see below I have added picture. Also in the picture you first trade was good because TDI green was under red under yellow. Your second TDI green was over red but under yellow. not great. Stick to high probability trades, where PA and TDI are line up together! Patients is key!! {image}
Thank you very much for your response. When I understood you right, so I used the fibonacci tool for the right aim, but in the false way.
I will keep it in my mind, that the 100.00 mark has to be under the 0.00 mark.
I am waiting for a retracement on EUR/JPY so am I right when i use the fibonacci tool ?
Thanks a lot for the green and for the red circle. My mistake in the second trade became now clear to me.
Do you have a good summary about PA for me ? I am reading now the pdfs of Phx62. He is trading with Price Action.
Best regards,
Fx94
- #28,151
- Dec 11, 2013 5:30am Dec 11, 2013 5:30am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} Hello Bizzzle, Thank you very much for your response. When I understood you right, so I used the fibonacci tool for the right aim, but in the false way. I will keep it in my mind, that the 100.00 mark has to be under the 0.00 mark. I am waiting for a retracement on EUR/JPY so am I right when i use the fibonacci tool ? Thanks a lot for the green and for the red circle. My mistake in the second trade became now clear to me.
Fx94, FYI http://www.babypips.com/school/eleme...tracement.html
Regards,
Cigarguy
Keep It Simple
- #28,159
- Dec 11, 2013 3:00pm Dec 11, 2013 3:00pm
{quote} How about the pairs and some charts...
But stick to the rules...
There`s no life before COFFEE!
- #28,160
- Dec 11, 2013 3:41pm Dec 11, 2013 3:41pm
{quote} I showed one pair, the others are similar... How about reading from page 1 and the other stuff like pdf etc. and then trade for yourself by demo and find out for yourself?!?