Good morning Guys, Have a look at a potential trade setup on GU (15 mins chart though).Waiting for PA to hit the Support line and break through before taking a trade. As taught here, using SL of 15 pips and looking for a RR of 4:1, guess i would be targeting 60 pips profit. pix coming up
Good morning Guys, Have a look at a potential trade setup on GU (15 mins chart though).Waiting for PA to hit the Support line and break through before taking a trade. As taught here, using SL of 15 pips and looking for a RR of 4:1, guess i would be targeting 60 pips profit. pix coming up
Good morning Guys, Have a look at a potential trade setup on GU (15 mins chart though).Waiting for PA to hit the Support line and break through before taking a trade. As taught here, using SL of 15 pips and looking for a RR of 4:1, guess i would be targeting 60 pips profit. pix coming up
Hi Rifid, would this U/J qualify as a set-up? Thanks for your time... {image}
Ignored
Tech nically it does, but i would restrain myself from taking it, becaused of the overall shape to it ,i think it is too steep in its retracements and looking on the 1h ,i would be concerned that it would continue to 20pips with out a deep retrace, but i may be wrong of course
Hey Rifid, im using FX PRO (mt4 demo). The spreads in there is sometimes 2-4points. Can u make a kind of table for see how need to be the SL and TP. Thank you.
Edit. Another question, for see the Trend what TF u use?
The setup is not 100% completed. Just waiting for the 3rd bounce on the support line. I had to reduce the screen so as to capture the important part: PA on the Support line and the Trend line
Now I see. I didn't squash my charts and was not looking at the whole picture.
I thought you may have been looking for a long for some reason.
cheers
don't forget gbp news in 15 minutes
Hey Rifid, im using FX PRO (mt4 demo). The spreads in there is sometimes 2-4points. Can u make a kind of table for see how need to be the SL and TP. Thank you. Edit. Another question, for see the Trend what TF u use?
Ignored
Hi Contrax ,this system will not work on those spreads you will need to find a different broker, there are plently of them that offer suitable spreads.
{quote} Tech nically it does, but i would restrain myself from taking it, becaused of the overall shape to it ,i think it is too steep in its retracements and looking on the 1h ,i would be concerned that it would continue to 20pips with out a deep retrace, but i may be wrong of course
Ignored
hm, yes I now see it is hitting bigger support on the 1H, so maybe it will go back up again...
