^^ That was a really nice touch trade. One question. Do you guys recommend switching to M5 or even M1 charts during such explosive moves like it was when Draghi was speaking? Because I was watching for touch of 10EMA in EURUSD on M15 chart, but the price never retraced to 10EMA...
^^ That was a really nice touch trade. One question. Do you guys recommend switching to M5 or even M1 charts during such explosive moves like it was when Draghi was speaking? Because I was watching for touch of 10EMA in EURUSD on M15 chart, but the price never retraced to 10EMA...
I can't say I recommend doing this every time, I just say that you may get a better fill on your orders.
{quote} When the move is so strong I switch to M1 because the chances to get a touch are greater there. But the move has to be clearly a strong one: NFP, interest rates cut/hikes, etc ... I can't say I recommend doing this every time, I just say that you may get a better fill on your orders.
Another thing, I really believe we should get the Dance chat room back to life. This forum is great, but in chat room we can discuss setups in real time and I know we can all benefit from it. So to all dancers, get in chat room tomorrow
Here is the link:http://us14.chatzy.com/31231809696996
{quote} Yor -4,5 pips is not a constrainment ! Bad entry .. as you can see , end of day .. the confluence touch gave you a profit .. and your forced trade was a loser ! .... dance when the music plays .. not before .....
Thanks for your feedback
It is a good metaphor dance when the music plays so I am training myself to know how to listen carefully.
But I think it was a sort of constrainment but not up to The Dance rules...
{quote} In my opinion, this was a constrainment, but the pressure was placed from above; it was misleading that price established above 50 EMA for a short while, but ultimately you can see that it broke down. I wouldn't have taken this trade for two reasons: 1. low liquidity due to ECB Conference 2. In constrainments I look for a bell shaped formation something like: {image} * sorry for the rough representation but you get the idea; This is only my opinion; I trade constrainments but I'm better at touches. Hope it helps. You can always pick up the...
Yes of course it helps and your point is very good as the curved shape for constrainment makes more sense than flat.
I re-read a manual a few days ago and this is useful to refresh your knowledge but theory vs reality is the main difference
End of the trading for today -4,5 +15 +2 BE I am in profit today and week too, so maybe I am one step closer to become a PRO trader
I'm guessing you have a wide screen and that can mess your angle up sometimes; I use scaling 1 to 1 on my charts. I recommend you do the same.
- #10,715
- May 9, 2014 12:02pm May 9, 2014 12:02pm
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Risiko birgt immer auch die Chance.
- #10,717
- May 10, 2014 2:58am May 10, 2014 2:58am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
...{quote} Satisfying and clear answer so, thank you very much for your input. I will try to keep all of that in mind to continue practice next week. If I may add, I found that quite interesting that you said you would not recommend a trade based on a second touch. The fact that you did not specify made me wonder if you would not recommand it in any circumstance ; let's say that the second touch occured in an uptrend, the price retrace and touch for the second time the 10MA, and that second touch also happen to be at a round
If your entry was at the first touch .. you entered correct !
For this case you have a SL.
Do not things complicate .. believe me , there will come more trades ....
If you have the patience to take only good setups , you ´ll have more green pips than red !
.. but starting to take second touches .. and bad entries .. the opposite will happen ...
Risiko birgt immer auch die Chance.
{quote} Your AUD trades didn't have angle, the 1st one was absolutely not following the rules and you got lucky with the 2nd position. Your EUR entry was good. I'm guessing you have a wide screen and that can mess your angle up sometimes; I use scaling 1 to 1 on my charts. I recommend you do the same.
