Does this chart help? {image} Daily Resistance in confluence with the 127.2 Fib .... CONFLUENCE............. CONFLUENCE.............. CONFLUENCE Masterrmind...........
The risk to reward needs to be at least initially >=1:1 So now you need to look at places on the chart where your SL and TPs would go and check out the r:R Some trades might not be worth taking purely because the r:R is not >1 If thats the case wait until a setup presents itself again on the same pair or go trade another pair... keep it simple! Masterrmind........... :nerd:
Does this chart help? {image} Daily Resistance in confluence with the 127.2 Fib .... CONFLUENCE............. CONFLUENCE.............. CONFLUENCE Masterrmind...........
{quote} This is indeed what i do. If i lose the perfect timing/price i will wait for another entry. Thank you for the charts and for pointing out things to watch. I will post some charts after work, hoping that it will not be to much out of topic. Hace a nice day
Here is a good example that was missed on the CHFJPY pair.... Its always easy to make comments in hindsight however, this is an ideal type of setup that you should be looking for in an aggressive C-Sell. {image} Price pulled back and then entry into the trade just below the Pivot Point and the DO line. You need to waiting for the trade to setup meaning that you must be actively searching the charts otherwise its very easy to miss really good trades. Masterrmind.............
As i said during summer i don't have time to look at the lower TFs. So i decided to trade 1h chart. I also decided to check the general price movement on 4h and daily chart, considering the structure on higher TF. I was looking to EUR/JPY: Daily chart: {image} 1h chart: {image} If the price will retrace i'm thinking to go short on the level marked. 1D and 1h are saying the same ( if the price will retrace) What do you think?
AUDUSD [M5 Chart; reversal] Short in action as an example only in this case but we are following price live in the market! {image} Remember to watch price action and any sign of strength in the bulls in which case if you are in a trade then you might decide to close it out for a small profit or as small loss and re-enter at a later time ..... trader choice always! Remember too that the market drives the price NOT us... we simply tag along for the ride using our intelligence and market wit! Note: when you are looking for bearish or bullish intent...
AUDUSD [M5; C-Sell] {image} I like the fact that the trade is shorted under both the DO line and the pivot point and the stop well up. An example live C-Sell taken and very close to being a 61.8 retracement. Price could bounce up off support a little lower down and head back up. A few obstacles to price on the way down in the form of support levels so we'll see how price continues. ps. this trade will be left to run although the TP might be tightened up a little just above midS level the green dashed line! Masterrmind...........
{quote} I'll leave the trade to run exactly as it appears on the screenshot. Preference would be to monitor and close out the trade the nearer it gets to TP but we'll see how it turns out. Time for rest I'm afraid! Trade well! Masterrmind............
{quote} AUDUSD [M5 Chart] - C-Sell update from overnight! {image} Trade remains in profit but PA is quite flat. Options include: 1. Leave SL + TP as they are. 2. Drop the SL down a bit before Tokyo Open (due to open in <30 minutes) and reduce the TP so it sits just above next highest support level 3. Wait for Tokyo Open and see where the momentum drives price and then react I'll wait until Tokyo Open before making any decisions since the trade appears to be in no immediate danger! ps. there is always the option to close out the trade for a small...
{quote} AUDUSD [M5] - update {image} Stop moved to BE + some pips to lock in profit but still remains above the DO line. Masterrmind...........
{quote} AUDUSD - update {image} Looking for price to rollover at or near mid support turned resistance and continue to move lower. If price breaks up through the option is always there to close out the trade for some profit (trader choice) I'll keep the trade running for now! If price continues to move up give it room to breathe since small pullbacks on the way down are common. Then look for an intent for price to reverse and continue the downward trend. ... afterall the trade is currently in profit! Masterrmind............
{quote} AUDUSD - update {image} some bullish intent shown watching for bearish intent on the following candles Masterrmind.............
