up to the 5m TF on the charts we can spot levels where traders will meet in greeter numbers to exchange..... here anything can happen, prices can break, the break can fail, the failure can fail or prices can stall, it is the nature of the market.......normally prices will go in the opposite direction after it has trapped many traders, more the participation entering the market at those levels more the reaction....
The previous PA can help give us clues were prices will be heading next, but PA changes constantly shifting the weight from one side to the other in a jiff and a trader needs to be able to feel the pulse and to view what is there and not what he is convinced it might be ....this is the reason why objective setups do not work consistently without taking in considerations market conditions and flow......
The previous PA can help give us clues were prices will be heading next, but PA changes constantly shifting the weight from one side to the other in a jiff and a trader needs to be able to feel the pulse and to view what is there and not what he is convinced it might be ....this is the reason why objective setups do not work consistently without taking in considerations market conditions and flow......
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legs and swings will give as a feel of the pulse, was the last projection larger than the previous one?, Was the last retrace less deep then the previous one? Bars into the projections larger than the retrace one? Then prices have a high probability to test the recent high/low at least after they pulled back to those levels.
Because my way of trading is based on the double pressure, the trades will work quickly most of the time, otherwise I am reading wrongly, so I will trail my SL quickly from the extreme of my signal bar to the extreme of my entry bar, in brief I am cutting my losses quickly.
I will always set a TP of double of my initial risk, but I will take profit in a range market at the next level.
I will always set a TP of double of my initial risk, but I will take profit in a range market at the next level.
this is how I set my battle field, I know for sure that nothings is for sure, those are my guides not my rules, they are only tool for creating my own islands in a sea of uncertainties, I do not not know how those tools will respond to prices, I will be constantly adjusting for what is right in that specific time...
All pattern that represent the psychology of the participants will be consider here, but they will not be taken without the back up of the market conditions.
I know I am against the best traders around on this particular instrument and I need to be very sharp but I also know that if I get into my zone they have little chances here.....
I will be ready in 40 minutes, I will not be posting during my session.
Have a great day.
All pattern that represent the psychology of the participants will be consider here, but they will not be taken without the back up of the market conditions.
I know I am against the best traders around on this particular instrument and I need to be very sharp but I also know that if I get into my zone they have little chances here.....
I will be ready in 40 minutes, I will not be posting during my session.
Have a great day.
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scholfield
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I like your posts, Fugazy.
5 trades, 3 losses 2 wins, I came ahead......why? Because RR is 1:2.
So, even if we read the tape like a drunken Irish man like I did today we still can come ahead with a good plan and good money management. ta
NOTE: I do not drink, I mean only when I have people around......
So, even if we read the tape like a drunken Irish man like I did today we still can come ahead with a good plan and good money management. ta
NOTE: I do not drink, I mean only when I have people around......
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Schol thank you, coming from you means quite a bit.
Forexmospherian
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I think with today being last day of both the month - and also the quarter - meant profit taking and book balancing etc
It was not the easiest of days - in fact boring at many times - but 3 - 4pm UK time was good for me on GU and UJ
I hope all is going well - and have a great April
Good Trading
Regards
F
Yes.
All good here F.
Thanks, you too.
Had 3 consecutive losing trades early in the session, but covered all my losses and made some with the following two.....
Despite the losses I kept my motivation on and left them way behind me as I did not have them, I like that, it shows I can keep my emotion at bay, they had not influence on my future performance, actually the following trades where great trades, my TP was reached in the arch of a few minutes and my entries were spot on.
chat later
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Ok.....a visual....
Compare projection B to A and depth of F to D, Bears are running the show (strong hands), then a combination of covering and counter trend stepped in (bulls), they were able to push prices above the ema forming two legs (when market tries something twice and fails normally does the opposite), it is a decent PB with a few strong trend bars pushing just above the previous support at B, also a small BO(not clear on the 1m TF, surely clearer on the tick chart ), then forms a double top Bear flag.... bears are waiting there (can you see Fugs?), the bar before my entry is the right bar to enter, Bulls run to cover (weak hands) becoming Bears , many have the stops below the shaved bull bar, the rest below the the swing low of the bull pin bar, there more aside Bears will step in, they are all Bears now....I later became a Bull but only at covering double of my initial risk.
Same thing with second trade compare C to D and G to F also have a look at the Bars in each leg...... price breaks and pulls back, that little bear bar is a gem.....
Have a nice Easter.
https://www.youtube.com/watch?t=2366&v=hfXDqsBrVOQ
Compare projection B to A and depth of F to D, Bears are running the show (strong hands), then a combination of covering and counter trend stepped in (bulls), they were able to push prices above the ema forming two legs (when market tries something twice and fails normally does the opposite), it is a decent PB with a few strong trend bars pushing just above the previous support at B, also a small BO(not clear on the 1m TF, surely clearer on the tick chart ), then forms a double top Bear flag.... bears are waiting there (can you see Fugs?), the bar before my entry is the right bar to enter, Bulls run to cover (weak hands) becoming Bears , many have the stops below the shaved bull bar, the rest below the the swing low of the bull pin bar, there more aside Bears will step in, they are all Bears now....I later became a Bull but only at covering double of my initial risk.
Same thing with second trade compare C to D and G to F also have a look at the Bars in each leg...... price breaks and pulls back, that little bear bar is a gem.....
Have a nice Easter.
https://www.youtube.com/watch?t=2366&v=hfXDqsBrVOQ
