Islander and Medici trade the European open

Quoting RevarK

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{quote} Hi Islander, Great thread and your skills are excellent I have a question for the second trade - why do you sell in this place? Wicks ? Close gap ? Feeling the market ? Wish you a lot of pips

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Quoting Islander

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Just sold 2/3 of a position and closed for +20.....higher TFs yet to confirm AND its getting late in the European trading day......the low was a high volumed hammer type candle.....so happy with another 20 in my bank {image}

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Quoting Islander

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{quote} Hi RevarK - thank you for your kind words. I did notice that you had posted in the DAX thread, where I also post. At the start of the day - DAX-wise - I drop to the 1m chart and as you can see from the attached, this shows some extra detail, especially HLs and LHs IF you manage to read my posts in this thread from say this January, you will see that I use various MAs to "allow" my entries and here, pice moved under both of the faster MAs which had both turned down, so after the two LHs this was an easy (partial position) sell for a few...

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Quoting RevarK

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{quote} Thanks for the quick reply and explanation, now it seems everything all clear. I also use MA to allow my entries - only react too slowly... but I work on it Best Regards!

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Quoting Islander

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{quote} I use the 1m chart for entries based around the MAs.....and the position of price vs each MA helps me decide how much of a position to trade....1/3, 2/3 or 3/3 {image}

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Quoting RevarK

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{quote} Thank you very much for your further explanation, in this case the entry level [fibo 61.8%] was strong enough to enter 3/3 ? Do You look at RN [9675]+ Pivot [ms2]? Do You use pendings orders? Sorry for so many questions {image}

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Quoting Islander

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{quote} I only entered 1/3 at that 61.8 level and the remainder later, after confirmation via a HL.

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Quoting Islander

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{quote} Yes, I often have a 1/3 waiting in a limit order, but as I mentioned in the DAX thread, when I'm at home I'm comprehensively alarmed!!"

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Quoting Islander

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{quote} RN [9675]+ Pivot [ms2]" ?? please explain....

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Quoting RevarK

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{quote} Ok, I get it {quote} I read your post ... sorry for your neighbours {quote} I mean Round Numbers like ..25 / ..75 (9675 in this case) and Pivots like Daily Pivot, Weekly Pivot, Monthly {image}

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Quoting Islander

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{quote} Ah - silly me - yes, for me they are the Sweet Spots from their indicator name and when there is a confluence with pivots / fibs or even a BRN and then an increase in volume, then I really take notice...........interesting how that worked today.....the only one not hit (yet) is ~the MR2 level, which would mean a 150 point range

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Quoting RevarK

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Great! May I ask if you are using SL? For example above the last LH, under the last HL?

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Quoting Islander

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{quote} Thanks and yes, typically as you said, or behind the 1m 20 LWMA @goliatakis - thanks So far today its a crap narrow range, so patience is required!

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