Another entry, using the mmtum. +30.
Attached Image(s) (click to enlarge)
Ratios & Harmonics: a Different Way to Trade
Watching the EUR/USD 1M TF right now. Expecting the bears to push price into the golden zone and then for the bulls to resume their efforts. See chart below.
EDIT - looks like the bulls are getting started earlier than I expected...
EDIT - looks like the bulls are getting started earlier than I expected...
- #12,446
- Edited 9:52am Jan 27, 2015 9:41am | Edited 9:52am
Another one. Buy right after my sell was closed. No structure above. So looking atleast for a 1:1. PA will tell more.
Right now BE +11 Pips. 1:1 is reached. Momentum looking good for more.
Edit: PA looking spooky. Put my SL higher. so atleast 31 Pips secured.
Edit2: Stopped out for +31 Pips. Maybe I had should put my SL below the 38,2% in case of a shallow retrace. But I'm happy with the pips.
This could be a possible option for a reentry now. But I have to go, so no more trades for me today.
I hope the more expericend trader could analyse my trades and give me some hints and tips to get better.
Right now BE +11 Pips. 1:1 is reached. Momentum looking good for more.
Edit: PA looking spooky. Put my SL higher. so atleast 31 Pips secured.
Edit2: Stopped out for +31 Pips. Maybe I had should put my SL below the 38,2% in case of a shallow retrace. But I'm happy with the pips.
This could be a possible option for a reentry now. But I have to go, so no more trades for me today.
I hope the more expericend trader could analyse my trades and give me some hints and tips to get better.
I just watch that live in the 1m TF. Congrats! Great great trade! - #12,456
- Jan 27, 2015 8:32pm Jan 27, 2015 8:32pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Three trades placed yesterday.
USDJPY closed out early at 45.7 pips (went on to hit my initial set TP which was at the 61.8)
Note the bounce off the trend line (after a series of previous touches and bear power drying out!)
Anticipated a long trade...........
GBPJPY - currently about 50 pips
**still running, expect more to the upside (pink line is a potential TP area for an AB=CD) but will monitor trade and exit if PA dictates**
Initial SL was close to the weekly pivot but as trade progressed I have tightened up my stop (chart attached)
GBPUSD - currently more than 40 pips - shorted this with a very good entry (SL position has not been changed)
**keeping a close eye on order flow and managing the trade....its progressing well at this stage...SL to be moved down soon to lock in partial profit**
Note: The Cable trade is expected to be met with some resistance @WR1 so order flow and direct PA will be closely watched!
Price Action, order flow and harmonics working very well!
Good trading,
Masterrmind...........
USDJPY closed out early at 45.7 pips (went on to hit my initial set TP which was at the 61.8)
Note the bounce off the trend line (after a series of previous touches and bear power drying out!)
Anticipated a long trade...........
GBPJPY - currently about 50 pips
**still running, expect more to the upside (pink line is a potential TP area for an AB=CD) but will monitor trade and exit if PA dictates**
Initial SL was close to the weekly pivot but as trade progressed I have tightened up my stop (chart attached)
GBPUSD - currently more than 40 pips - shorted this with a very good entry (SL position has not been changed)
**keeping a close eye on order flow and managing the trade....its progressing well at this stage...SL to be moved down soon to lock in partial profit**
Note: The Cable trade is expected to be met with some resistance @WR1 so order flow and direct PA will be closely watched!
Price Action, order flow and harmonics working very well!
Good trading,
Masterrmind...........
Master your Mind then Master your Trades
Well, I made some pips tonight. There is nothing at all strategic about these exits. I noticed that my account was finally back at a level I had been wanting it to be, so I took the money and ran. I may kick myself for that later, right now it's just nice to see some green arrows, lol. There were harmonic-structure-price action reasons for entering the trades, at least.
- #12,458
- Jan 27, 2015 8:59pm Jan 27, 2015 8:59pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
On further analysis of the GBPUSD trade it is clear that the weekly resistance level almost coincides with the 38.2 retracement of the initial upward leg.
This suggests that the SL should be tightened up considerably since based on order flow a 38.2 retracement is much more likely and this is probably the appropriate place to take profits.
If the trade closes above the previous hours candle high then the trade is likely to be exited for just over 30 pips.
Otherwise I'll let the trade run south
33 pips locked in on the GBPUSD trade.....expected PA to take out the trade soon!
SL moved to BE+5pips for the GBPJPY trade...........
Masterrmind...........
This suggests that the SL should be tightened up considerably since based on order flow a 38.2 retracement is much more likely and this is probably the appropriate place to take profits.
If the trade closes above the previous hours candle high then the trade is likely to be exited for just over 30 pips.
Otherwise I'll let the trade run south
33 pips locked in on the GBPUSD trade.....expected PA to take out the trade soon!
SL moved to BE+5pips for the GBPJPY trade...........
Masterrmind...........
Master your Mind then Master your Trades
- #12,459
- Jan 27, 2015 9:10pm Jan 27, 2015 9:10pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Master your Mind then Master your Trades
- #12,460
- Jan 27, 2015 10:18pm Jan 27, 2015 10:18pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Master your Mind then Master your Trades