Failed to stay abover RN => Short +15pips ! 
Trade Safe !
PVSRA Scalping with Cigarguy
- #2,843
- Jun 6, 2016 4:06pm Jun 6, 2016 4:06pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
Failed to stay abover RN => Short +15pips !
The TDI is not necessary when scalping PVSRA but if it helps you OK........
Keep It Simple
- #2,844
- Jun 6, 2016 4:07pm Jun 6, 2016 4:07pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
USDJPY 1M +5PIPS Reasons for entering BULLISH - PA tried to break Dragon but it failed to do so and price started to go up again - High bullish volume - Move was also bullish on 5M time frame - Currency Strength showing USD a bit stronger than JPY - Entered just after a green candle was formed {image}
Nice trade and explanation as usual.....
Keep It Simple
Hey everyone!
I am still around, always checking in on the thread for the great examples everyone is posting.
As for my own trading, not going the best? I am still at most getting a 50% success rate sadly. Still have a lot to learn it would seem!
Take this following trade for example :
- Was trading below the dragon on M1
- Had broken the 200ema and was trading below dragon on M5
- Trading below dragon M15
- Had broken below ASL, and tried to break up through again, failing to (in my eyes anyway!)
- Entered with break down from ASL, confirmed by the following high volume candle.
My target was the previous low, which as you can see, was just missed!
Looking back maybe I should have gotten out at breakeven when the big green volume candle came along? The reason why I didn't was I was thinking that maybe it was going for a test of the 500 line again.
Very bad exit I know, what I would love an opinion on however is whether you would have taken the trade in the first place, and why/why not?
I feel like I am constantly on the tip of finally "getting" this, however I just cant get through the final step.
Thanks for all your help!
I am still around, always checking in on the thread for the great examples everyone is posting.
As for my own trading, not going the best? I am still at most getting a 50% success rate sadly. Still have a lot to learn it would seem!
Take this following trade for example :
- Was trading below the dragon on M1
- Had broken the 200ema and was trading below dragon on M5
- Trading below dragon M15
- Had broken below ASL, and tried to break up through again, failing to (in my eyes anyway!)
- Entered with break down from ASL, confirmed by the following high volume candle.
My target was the previous low, which as you can see, was just missed!
Looking back maybe I should have gotten out at breakeven when the big green volume candle came along? The reason why I didn't was I was thinking that maybe it was going for a test of the 500 line again.
Very bad exit I know, what I would love an opinion on however is whether you would have taken the trade in the first place, and why/why not?
I feel like I am constantly on the tip of finally "getting" this, however I just cant get through the final step.
Thanks for all your help!
- #2,846
- Jun 7, 2016 8:28am Jun 7, 2016 8:28am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
Hey everyone! I am still around, always checking in on the thread for the great examples everyone is posting. As for my own trading, not going the best? I am still at most getting a 50% success rate sadly. Still have a lot to learn it would seem! Take this following trade for example : - Was trading below the dragon on M1 - Had broken the 200ema and was trading below dragon on M5 - Trading below dragon M15 - Had broken below ASL, and tried to break up through again, failing to (in my eyes anyway!) - Entered with break down from ASL, confirmed by...
With a quick glance at your M1 chart you were selling into short term support on your left. Try to remember to always look left for indications and hints of support/resistance. It appears you you had all indications from the M15, M5 down to M1 but look left on each of these time frames for hints. I usually start with H1 for the trend, looking left and then drill down as you did............
Keep It Simple
- #2,848
- Jun 7, 2016 8:43am Jun 7, 2016 8:43am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
EU M1 +5 Pips. Explaination on chart. {image}
Good to see your trades again.....
Keep It Simple
- #2,850
- Edited 10:06am Jun 7, 2016 9:54am | Edited 10:06am
- Joined Mar 2016 | Status: Senior member | 1,279 Posts
- #2,851
- Edited 11:32am Jun 7, 2016 10:54am | Edited 11:32am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} As Cigarguy pointed out, if you look left you will see that the big bearish move was already concluded since the previous set of candles had failed to make a new low. Moreover, look at the inclination of Dragon. You will see that the angle before was very strong to the downside, but when you entered it was not that strong. I drew the new bullish support line forming in yellow. {image}
Keep It Simple
- #2,854
- Jun 7, 2016 12:16pm Jun 7, 2016 12:16pm
- Joined Mar 2016 | Status: Senior member | 1,279 Posts
- #2,856
- Jun 8, 2016 6:07am Jun 8, 2016 6:07am
- Joined Mar 2016 | Status: Senior member | 1,279 Posts
M5 ==> Bounce off 50EMA and TL M1 ==> Bounce off 200EMA and TL +5 pips without stressing !
{quote} Bsan89, With a quick glance at your M1 chart you were selling into short term support on your left. Try to remember to always look left for indications and hints of support/resistance. It appears you you had all indications from the M15, M5 down to M1 but look left on each of these time frames for hints. I usually start with H1 for the trend, looking left and then drill down as you did............
{quote} As Cigarguy pointed out, if you look left you will see that the big bearish move was already concluded since the previous set of candles had failed to make a new low. Moreover, look at the inclination of Dragon. You will see that the angle before was very strong to the downside, but when you entered it was not that strong. I drew the new bullish support line forming in yellow. {image}
A quick question CG. About looking left, when I see support, I feel like I can target that as my TP. Do you suggest actually avoiding that and waiting for the price to have a reaction to the support/resistance before doing anything? I guess it is more of a case by case basis though right?
Anyways, my trade for tonight! It was a positive one!
- All TF above the ema and dragon
- Big volume break of 750 level.
- Price retraced but couldn't break back though
- Entered on break of the high of the big volume candle. (would love opinions on this entry, was waiting for the break of the high volume candle waiting to long?)
- #2,860
- Jun 8, 2016 9:07am Jun 8, 2016 9:07am
- Joined Mar 2016 | Status: Senior member | 1,279 Posts
{quote} Thank you rob