Beartrap occured below support could lead to an up move? {image} {image}
Another scenario perhaps:
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #881
- Mar 5, 2014 4:14am Mar 5, 2014 4:14am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Another scenario perhaps:
- #884
- Mar 6, 2014 1:02am Mar 6, 2014 1:02am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Been quietly recapturing my thoughts... Here comes a trade:
EU:
EU:
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #885
- Mar 6, 2014 2:05am Mar 6, 2014 2:05am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Been quietly recapturing my thoughts... Here comes a trade: EU: {image} {image} {image}
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #887
- Mar 6, 2014 3:33am Mar 6, 2014 3:33am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} Hey Chao, just my two cents on your EU trade. {image}
**you wrote "I don't see strong bull momentum", do you mean "bear momentum" instead?
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #888
- Mar 6, 2014 3:36am Mar 6, 2014 3:36am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
{quote} Thanks Sang for the note. I may have been stop hunted, price looks eager to break higher. **you wrote "I don't see strong bull momentum", do you mean "bear momentum" instead?
- #889
- Mar 6, 2014 3:40am Mar 6, 2014 3:40am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #891
- Mar 6, 2014 3:52am Mar 6, 2014 3:52am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} Just blame my proor English. "no strong bull momentum (no comma) which tells me price wants to....."
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #892
- Mar 6, 2014 6:40am Mar 6, 2014 6:40am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} Update: Stopped out @ tightened SL {image}
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #893
- Mar 6, 2014 7:44am Mar 6, 2014 7:44am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} I can't think straight now...no more trading for me this week. {image}
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #896
- Mar 6, 2014 10:40am Mar 6, 2014 10:40am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
{image} {image}
{quote} I took a similar trade (UJ long) but your EJ trade was better (cos of more pips).
euro strong ; yen weak. but, I only got 90 pips x 0.01 vs 90 x 3.0 lots = awesome
Normally, because, I trade small lots and I'm greedy to see money coming in I hold on to trades hoping Price will travel in a straight line forever, looking to get a home-run each time but time again Price retraces to leave me with small to no profit. But, today was an exception and I thought I would be reasonable and close trade with 90 pips but, Price keep travelling!!
but, I should be happy; indeed, grateful, for today.
However, taking profit remains just another area where I need to be disciplined in setting a target from the outset that satisfies and meets RR rules instead of my habit of trailing, which I don't think has been a good strategy, tbh.
- #899
- Mar 6, 2014 6:37pm Mar 6, 2014 6:37pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
EURGBP - Daily view. Thoughts? {image}
the weekly view is even clearer:
Knowing is not enough; we must apply. Willing is not enough; we must do.
{quote} hey my friend, the weekly view is even clearer: {image}
That explains why Price turned where it did. I must admit, it was perplexing me. Upper edge of zone was wrong. Good reminder to look at M and W charts in our Top-down analysis.
