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Two trendlines, ultimate reward

  • #401
  • Mar 14, 2016 9:51am Mar 14, 2016 9:51am
Quoting Victory1
{quote} Thank You for Your kind reply Landline. I see there is nice BOW on EURAUD. So I expect the trend will continue. Also I will watch the major pairs EURUSD and AUDUSD to know when I should close the trade. Lets see. Time will show us the truth :-)
Actually the h4 trend has been down for a month now and whilst it has attempted to reverse it has not yet succeeded. So I am not sure what you meant by the trend continuing considering you are in a long position. It may turn go up but right now it can only be considered as a downward trend, and hence that is one of the reasons why it would have been better imo to have waited for a breakout of the range supported by a t/l break as confirmation to give yourself a fighting chance of getting the direction correct before committing to the trade. but you may end up fortunate enough to be on the right side anyway when price does break. The magenta line I've drawn for example would be my idea of a value area that I'd be interested in taking a chance at a long, and also near enough to a downward breakout zone which means the stop levels can be well defined and sized small enough if price decides to resume downwards.

Food for thought

LL

Attached Image (click to enlarge)
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  • #402
  • Mar 14, 2016 11:02am Mar 14, 2016 11:02am
Quoting Landline
{quote} Actually the h4 trend has been down for a month now and whilst it has attempted to reverse it has not yet succeeded. So I am not sure what you meant by the trend continuing considering you are in a long position. It may turn go up but right now it can only be considered as a downward trend, and hence that is one of the reasons why it would have been better imo to have waited for a breakout of the range supported by a t/l break as confirmation to give yourself a fighting chance of getting the direction correct before committing to the trade....


As Daniel2 said trend is matter of TF
So for example on D1 and W1 I see trend is sideway.

On H4 I see the breakout.
Right now I am watching TF M15 also.

I have described the BOW on this TF (M15) and expect to continue up after the breakout.
You can see the BOW on H1 as well.

Thank You again for Your help and for Your opinion.
I appreciate it very much.

So we will see.
I wish You to have the best open price and great profit :-).
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  • #403
  • Edited 12:17pm Mar 14, 2016 11:55am | Edited 12:17pm
aud usd.

Attached Image (click to enlarge)
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  • #404
  • Mar 14, 2016 12:24pm Mar 14, 2016 12:24pm
Quoting longshot_nl
aud usd. {image}


Good work :-)

I have AUDUSD very similar :-)
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  • #405
  • Mar 15, 2016 2:48am Mar 15, 2016 2:48am
Quoting longshot_nl
aud usd. {image}
missed
  • #406
  • Mar 15, 2016 2:49am Mar 15, 2016 2:49am
aud cad 4h
got to happen soon or also missed

Attached Image (click to enlarge)
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  • #407
  • Mar 15, 2016 3:07am Mar 15, 2016 3:07am
Quoting longshot_nl
aud cad 4h got to happen soon or also missed {image}
You have a load of lines and that's all. So what exactly are you trying to say? Explain with detail...long or short, entry, stops, tp level etc.....it ain't so difficult is it...we are not mind readers!
  • #408
  • Mar 15, 2016 3:12am Mar 15, 2016 3:12am
NZDJPY buy, we will see...
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  • #409
  • Mar 15, 2016 3:33am Mar 15, 2016 3:33am
Quoting longshot_nl
{quote} if you want to risk 10 pips for 80, you might buy this one. This one bit too risky for me. I would sell the bear setup for sure though {image}
it would have worked...

Attached Image (click to enlarge)
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  • #410
  • Mar 15, 2016 3:39am Mar 15, 2016 3:39am
Quoting longshot_nl
{quote} it would have worked... {image}
Interesting longshot_nl,

thank You :-)
  • #411
  • Mar 15, 2016 4:29am Mar 15, 2016 4:29am
Quoting longshot_nl
{quote} it would have worked... {image}
I'll be looking for short entries on this pair...
Gone to a better place
  • #412
  • Mar 15, 2016 5:23am Mar 15, 2016 5:23am
eur gbp update
i am already short, stop-loss above this setup.
and nother short at this entry.

Attached Image (click to enlarge)
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  • #413
  • Mar 15, 2016 7:35am Mar 15, 2016 7:35am
Quoting longshot_nl
eur gbp update i am already short, stop-loss above this setup. and nother short at this entry. {image}
setup fail.. closed shorts.
  • #414
  • Mar 15, 2016 8:04am Mar 15, 2016 8:04am
Quoting longshot_nl
{quote} setup fail.. closed shorts.
was possible stophunt... time will tell.
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  • #415
  • Mar 15, 2016 8:08am Mar 15, 2016 8:08am
Quoting longshot_nl
{quote} was possible stophunt... time will tell. {image}

I do not know, but now it is not good setup for me...
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  • #416
  • Mar 15, 2016 10:05am Mar 15, 2016 10:05am
Quoting daniel2
{quote} I do not know, but now it is not good setup for me... {image}
IMHO, you don't have all lines.
but no good rejection yet

Attached Image (click to enlarge)
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  • #417
  • Mar 15, 2016 10:43am Mar 15, 2016 10:43am
Quoting longshot_nl
{quote} IMHO, you don't have all lines. but no good rejection yet {image}
its stuck.. i am short though.. matter of risk to reward ratio.

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  • #418
  • Mar 15, 2016 12:26pm Mar 15, 2016 12:26pm
Quoting longshot_nl
{quote} its stuck.. i am short though.. matter of risk to reward ratio. {image}

Thank You very much for Your correction.
I am not in, I am waiting for turn.
  • #419
  • Edited 3:46pm Mar 15, 2016 12:42pm | Edited 3:46pm
I finally got stopped out..

Perhaps this is another opportunity for tomorrow.
fib + previous high + TL.

Attached Image (click to enlarge)
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or

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I don't find it very strong on its own, but the TL in the chart below broke which is bearish..
I think i wait too, its too complicated. I just want simple setups with close stops now.
So after it is rejected on lower timeframe a breakout trade or a retest trade or a day later the pivot point trade.

Attached Image (click to enlarge)
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  • #420
  • Mar 15, 2016 3:47pm Mar 15, 2016 3:47pm
Quoting longshot_nl
aud cad 4h got to happen soon or also missed {image}
missed too.
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