Probably the worlds best currency trader.
- #962
- Edited 10:20am Dec 9, 2014 10:09am | Edited 10:20am
- Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts
One example how I use ATR with DPs. Today best example (high volatility). I made a mistake to enter one time too early, didnt repeat it though. I entered at a better price then. ATR(24) at H1 chart = 1 day Chart H1 ► DP ATR reflection {image}
You got excellent price as well.
Well done!
- #967
- Dec 9, 2014 10:30am Dec 9, 2014 10:30am
- Joined Aug 2010 | Status: Tööröh | 14,292 Posts
Hero calls followed by margin calls...
- #968
- Dec 9, 2014 10:34am Dec 9, 2014 10:34am
- Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts
{quote} Finally, I am in as well, waited so long for this move and tell you honestly fear did set in and I did split the position and moved some down as you can see on the chart. Got a very good price for few there and some were left untouched. It was a sharp move as we were expecting for a few days. Will be holding these for a while for sure! You got excellent price as well.
So DP 185.70/50 rejected, thats good. Next is DP 187.80/60, what is most important. If this one is support you got an excellent entry for a longer trend. Next is 189.40/20 then, now lets assume this one gets taken out your target is 191.00/90.80 then. Potential profit margin around 500Pips but 186.75/45 must hold otherwise we probably see a test of 185.70/50 again.
Like last time, when DP is hit, use your ATR to calculate your stop. I assume you can do it yourself.
- #970
- Dec 9, 2014 10:35am Dec 9, 2014 10:35am
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
{quote} Looks like its in progress
picked the wrong day not to be by computer
would of had a hard time selling though
edit: good job for those who did catch it
- #971
- Dec 9, 2014 10:37am Dec 9, 2014 10:37am
- Joined Aug 2010 | Status: Tööröh | 14,292 Posts
{quote} Hi Phanti, I traded this lovely beast in crisis and believe me swings or retraces like this leaves me cold since I expected some kind of retrace or profit taking here, just didnt know the extend.
shorted cable... still surprised about usd weakness this week....rly weak..
Hero calls followed by margin calls...
- #972
- Dec 9, 2014 10:39am Dec 9, 2014 10:39am
- Joined Aug 2010 | Status: Tööröh | 14,292 Posts
{quote}
Hero calls followed by margin calls...
- #973
- Dec 9, 2014 10:41am Dec 9, 2014 10:41am
- Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts
{quote} what happened here ???? picked the wrong day not to be by computer
Sentiment change at 188.60/40, yesterday's low taken out, downtrend established; long covering until 185.70/50, sellers entered market at 187.80/60 and 186.75/45, then excessive selling until 185.70/50 took place, shorts stuck at lower prices, shorts still covering, price still increasing.
- #976
- Edited 11:12am Dec 9, 2014 10:56am | Edited 11:12am
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
{quote} I love when you ask me a question because I can give you the shortest answer and I know you'll immediately get me: Sentiment change at 188.60/40, yesterday's low taken out, downtrend established; long covering until 185.70/50, sellers entered market at 187.80/60 and 186.75/45, then excessive selling until 185.70/50 took place, shorts stuck at lower prices, shorts still covering, price still increasing.
and 400+ pips later it just showed me how not to mess with the dragondid get a couple trades in last night that sort of gave me the idea that I didn't want to leave my buys open since they missed my TP by 1/2 pip at 188.20 and closed them manually at 03. it was just struggling to much to go higher and I figured it was due to the news
did you sell and buy?
{quote} déjà vu here mate, lets see if I can make you ride this beast another time but dont expect another 1500 pips
. Always trust the master. 
- #980
- Dec 9, 2014 11:48am Dec 9, 2014 11:48am
- Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts
{quote}