Dinos
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Short AUD/USD
What price was you entry price and disaster stop?
What price was you entry price and disaster stop?
tar
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Different views of the market , i just read somewhere that there is now enough bears trapped so we can continue and go higher . However someone else may say we have enough bulls trapped and we are ready for the next drop ....
2be
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that short has got some potential
2be
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that same for me. Got out on the second hit of 637 on that last trade
lexcorp
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out here at 102.19 +27
lexcorp
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lexcorp
Senior member
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What was your stop and target on the opening NQ short? Perhaps I misunderstood but I thought you were looking for it to stay below 3600 and so gave back your gains. How did you react to the 5m bar following your entry which moved with some speed against your position? Do you ever pre-empt your stop or do you trade with a fixed stop and target and only exit the trade when one is hit?
My target was 3592 which was a couple of points above one of the pivot levels that I use. Stops were a break of the previous days high. Which has happened and stopped me out now.
I could have held on to it longer as from my analysis and reading of the PA, there is a larger, more solid area of resistance at 3526 area, based off daily charts. Now having a 3 time touch of it, but I chose not to hold for that large a stop.
Today we are inside yesterdays range, and in the middle of bigger picture ranges, so no swing points or clear support and resistance really exist on those timelines. Except resistance on the 15m timeline with overnight and yesterdays high...but again knowing which traders will see this and where they typically enter gives us a zone to aim for in order to dump longs and trigger weak shorts, who then have to stop out at new highs, providing fuel for pros to conclude business. This was my point about using the timeline appropriate to the players...first part of today was about a pullback to release longs and fake in weak shorts to create more demand. 15m timeline and lower. So the 60m, daily etc levels aren't going to be in play yet. Does your strategy know when to take account of this and switch timelines?
Think I have answered the bigger picture timeframe S&R in the point above. My trading and research on my strategy has shown that overnight and pre market highs and lows do play a significant area of S&R, and today's area was quite clear.
wallstreetwarrior87 made an interesting post earlier in the month asking whether imposing arbitrary timelines can cause you to overlook opportunities simply by virtue of how you have chosen to display your data, preconceptions about noise, etc. For example, why choose a 5 minute chart? Why not 4 minutes 34 seconds? Is it because you know most others use 5m bars...in which case don't you want to be in your trade slightly ahead of them?
Anyway, up to members here to decide if they have any interest in discussing further...just asking some questions. Happy hunting.
Hey I've got no problems at all in spirited discussion and exchange of ideas, knowledge and experience. Just because I trade one way, doesn't mean there isn't something you do that could improve my strategy and method. We're all students here, and I welcome difference of opinion
My target was 3592 which was a couple of points above one of the pivot levels that I use. Stops were a break of the previous days high. Which has happened and stopped me out now.
I could have held on to it longer as from my analysis and reading of the PA, there is a larger, more solid area of resistance at 3526 area, based off daily charts. Now having a 3 time touch of it, but I chose not to hold for that large a stop.
Today we are inside yesterdays range, and in the middle of bigger picture ranges, so no swing points or clear support and resistance really exist on those timelines. Except resistance on the 15m timeline with overnight and yesterdays high...but again knowing which traders will see this and where they typically enter gives us a zone to aim for in order to dump longs and trigger weak shorts, who then have to stop out at new highs, providing fuel for pros to conclude business. This was my point about using the timeline appropriate to the players...first part of today was about a pullback to release longs and fake in weak shorts to create more demand. 15m timeline and lower. So the 60m, daily etc levels aren't going to be in play yet. Does your strategy know when to take account of this and switch timelines?
Think I have answered the bigger picture timeframe S&R in the point above. My trading and research on my strategy has shown that overnight and pre market highs and lows do play a significant area of S&R, and today's area was quite clear.
wallstreetwarrior87 made an interesting post earlier in the month asking whether imposing arbitrary timelines can cause you to overlook opportunities simply by virtue of how you have chosen to display your data, preconceptions about noise, etc. For example, why choose a 5 minute chart? Why not 4 minutes 34 seconds? Is it because you know most others use 5m bars...in which case don't you want to be in your trade slightly ahead of them?
Anyway, up to members here to decide if they have any interest in discussing further...just asking some questions. Happy hunting.
Hey I've got no problems at all in spirited discussion and exchange of ideas, knowledge and experience. Just because I trade one way, doesn't mean there isn't something you do that could improve my strategy and method. We're all students here, and I welcome difference of opinion
lexcorp
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P
postman
Watch out Rude person alert.
Long Dow 352.
Long Dow 352.
