A nice short on the EURUSD running this morning.
Some profit is locked in, so I'll let it run a while longer.
Update: Proper post below...
Some profit is locked in, so I'll let it run a while longer.
Update: Proper post below...
Ratios & Harmonics: a Different Way to Trade
- #12,361
- Edited 7:08am Jan 26, 2015 6:10am | Edited 7:08am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
- #12,363
- Jan 26, 2015 6:26am Jan 26, 2015 6:26am
- Joined Aug 2011 | Status: Trader | 4,956 Posts
As the lights go by so too do the shadows move
- #12,364
- Edited 8:47am Jan 26, 2015 6:33am | Edited 8:47am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
A nice short on the EURUSD running this morning. Some profit is locked in, so I'll let it run a while longer. {image}
Price is grinding around the DPP and I don't see this going too much further, although things always tend to quieten before NY open.
Update 1: active trade management. I expected far more from this trade than it has delivered, but I didn't want to abandon it. So I moved the stop to give it the benefit of the golden zone as that still gives a slightly better than BE trade.
Update 2: underwhelming. Out at +12pips.
- #12,366
- Jan 26, 2015 7:05am Jan 26, 2015 7:05am
- Joined Aug 2011 | Status: Trader | 4,956 Posts
As the lights go by so too do the shadows move
- #12,368
- Jan 26, 2015 7:58am Jan 26, 2015 7:58am
Well this is another annoying trade for me, been on this trade for 2 hours.
Price was moving sideways but short term order flow was bullish. Price reacted in the golden zone for an ABCD to the upside so I entered after a strong bullish candle. My initial SL was at 1.5005 but then I moved it down to 1.5000 for the RN and thought that price should hold. This proved to be a good decission as price hit a low of 1.5005 so would have been taken out.
Then price made a good jump before I was taken out and I finally moved my SL to BE+2. Then price came down and took this out before jumping up to my TP at 1.5030. I am currently always a bit conservative on my TP and had it 5 pips below the 1:1 completion of the ABCD.
So what could have been 15 pips was only 2, at least it was not a loss.
Price was moving sideways but short term order flow was bullish. Price reacted in the golden zone for an ABCD to the upside so I entered after a strong bullish candle. My initial SL was at 1.5005 but then I moved it down to 1.5000 for the RN and thought that price should hold. This proved to be a good decission as price hit a low of 1.5005 so would have been taken out.
Then price made a good jump before I was taken out and I finally moved my SL to BE+2. Then price came down and took this out before jumping up to my TP at 1.5030. I am currently always a bit conservative on my TP and had it 5 pips below the 1:1 completion of the ABCD.
So what could have been 15 pips was only 2, at least it was not a loss.
- #12,371
- Jan 26, 2015 8:28am Jan 26, 2015 8:28am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Well, I have a thing for bears today despite the big picture bullish order flow.
Stops were tight and didn't shoot for anything beyond 1:1. Not much else to it.
Also now reloaded short again.
Stops were tight and didn't shoot for anything beyond 1:1. Not much else to it.
Also now reloaded short again.
It looks like the Lower High I was waiting for to short USD/JPY may be taking shape, and in the golden zone of the previous swing no less. 
As you can see, I already tried a short, keeping a stop fairly tight because I knew it was iffy but I didn't want to miss the ride down I am envisioning, ha. Unsurprisingly I was taken out-- bulls still had too much strength-- I should have been patient! I am keeping my eye on the area for another opportunity but may wait to see how the next few candles shape up. Just hope I don't miss an opportunity for an entry with a good risk to reward ratio. 
As you can see, I already tried a short, keeping a stop fairly tight because I knew it was iffy but I didn't want to miss the ride down I am envisioning, ha. Unsurprisingly I was taken out-- bulls still had too much strength-- I should have been patient! I am keeping my eye on the area for another opportunity but may wait to see how the next few candles shape up. Just hope I don't miss an opportunity for an entry with a good risk to reward ratio. - #12,373
- Jan 26, 2015 8:34am Jan 26, 2015 8:34am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Volume could dryup soon , due to the severe weather in NY
- #12,376
- Jan 26, 2015 8:57am Jan 26, 2015 8:57am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
+160 pips regards
Congrats, pampaq! I tried entering long on that one three times last night, but kept getting kicked around by the volatility. 
I ended up with just +5 when all was said and done. Your better results and example reemphasize the great value of honing those skills in trade management!
I ended up with just +5 when all was said and done. Your better results and example reemphasize the great value of honing those skills in trade management!
