barjon
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forgot to put the link in sorry - here it is http://www.trade2win.com/boards/for...55-phil-newtons-range-break-out-strategy.html . I think that's directly what you are thinking of.
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- Thread starter Lord Flasheart
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forgot to put the link in sorry - here it is http://www.trade2win.com/boards/for...55-phil-newtons-range-break-out-strategy.html . I think that's directly what you are thinking of.
wackypete2
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Yes, similar. The big difference is Phil's method is more interactive - you need to be waiting/watching for the right conditions then enter your trade. I will be placing limit orders then going to bed and hopefully I can sleep!. lol
Peter
a few factors at play, the most important being an observation over the last few weeks that the AUD has mirrored many of the EUR's upside moves handsomely and resisted the downsides. strong technicals like this will enhance any edge from an RN or S/R point, though, AUD buyers can quickly run from the currency as we saw early dec. it is well bid now but continued weakness elsewhere may overcome this
otherwise:
- liked the RN of 1.02 (which has held nicely for me on previous trades), esp. when combined with a long term untested 1.27 EURUSD
- risk in general appeared oversold, especially after a fantastic NFP
- rule of 3. very wishy washy, but is actually a very reliable indiactor of a pause in selliing/buyinh. nice, clear Ro3 here
obv. all well and good in hindsight, and i admit i had not formalised this entirely before i traded, but they were all kicking around in my mind throughout the day
VielGeld
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Thanks for the link. I think I like this guy's style.
wackypete2
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Hi everyone. I'll start the week off with an overnight trade. See chart eurjpy 15m.
I'm looking for the opening gap to fill so I'm placing a limit sell order. Stop loss will be just above the last swing high on Friday. Take Profit is near this evening's low. Stakes are 1/4 of my normal lots.
Sell Limit 97.90
Stop Loss 98.20
Target 97.30
Peter
I'm looking for the opening gap to fill so I'm placing a limit sell order. Stop loss will be just above the last swing high on Friday. Take Profit is near this evening's low. Stakes are 1/4 of my normal lots.
Sell Limit 97.90
Stop Loss 98.20
Target 97.30
Peter
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DionysusToast
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Lord Flasheart
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short usd/cad at 1.0289 sl 1.0320
Lord Flasheart
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Vaco
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simmilar to my limit order only mine is up at 98.45 40 pip stop
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wackypete2
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Stopped out -30
small stakes = -7.5 in comparison to normal lots traded.
I still like the short side though. I'll keep watch for another entry.
Peter
wackypete2
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We have a full room today 🙂
Peter
Peter
Lord Flasheart
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wackypete2
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short eurusd 1.2756 stop 1.2768
wackypete2
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wackypete2
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wackypete2
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The trade shown in the chart was the stopped out overnight trade. I left the levels in for reference.
Peter
Peter
wackypete2
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barjon
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pete
😕 I thought your tactics were going to be break-outs, not reversals. Stick to the plan, mon brave.
jon
Vaco
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Lord Flasheart
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1/2 off at +14,rest to b/e,seems to be very choppy
