- Search Energy EXCH
-
RedCabbage replied Jan 30, 2009I don't always look for 2 bounces a swing highs/lows work for me.
No Brainer Trades
- RedCabbage replied Jan 30, 2009
It's all good.
You're right there's nothing wrong with it for scalping, but for longer TFs 616 has been strong so price couldn't close the 1h candle much above it and now it's dropped another 40pips. As Sam says 'Look Left'No Brainer Trades
- RedCabbage replied Jan 30, 2009
That's a good entry but it ran straight into resistance at 11616 which I marked as a possible sell but it went through too far for me. Like J16 method you need some clear space for the best trades. Have a look up to 1h level to see if you haven't ...
No Brainer Trades
- RedCabbage replied Jan 30, 2009
In at 12369 out at b/e - gotta be in it to win it!
No Brainer Trades
- RedCabbage replied Jan 30, 2009
12379 is historically significant resistance and a double 38.2 fib However 12514 is much stronger
No Brainer Trades
- RedCabbage replied Jan 30, 2009
Yes, and also no. It depends on how you apply MM. Anyway look at USDCAD now.
No Brainer Trades
- RedCabbage replied Jan 30, 2009
As we know there no rules set in stone that everyone must follow. It is all down to what suits us what works for us and where our comfort zones are. When I get in a trade I'm happy for drawdown to my stop before it goes into profit but my stop size ...
No Brainer Trades
- RedCabbage replied Jan 30, 2009
If I enter a trade and it is still below my entry level after an hour or two then I lose confidence and want to cut my losses. Yet I know some traders look for conditions that tell them that the position is still good.
No Brainer Trades
- RedCabbage replied Jan 30, 2009
USDJPY levels to watch (not necessarily trade) 8888 yesterdays low and Fib 23.6 8848 9000 9015-9067-9089 Fib 50
No Brainer Trades
- RedCabbage replied Jan 30, 2009
The same but RR is better, at 15m level the spread can be 25% of your profit. 15m is a good place to learn PA though.
No Brainer Trades
- RedCabbage replied Jan 30, 2009
It's all part of the process. Confidence always fluctuates, and the new tricks we learn are sometimes contradictory. It would have been much worse if all the trades I missed yesterday were losers, then I would have been right to hesitate and I would ...
No Brainer Trades
- RedCabbage replied Jan 30, 2009
Apply the same principles to 1h and 4h and you've got lots of 80-150 pip trades. Yesterday I found 500+ pips in set ups in 1h charts if you just take half... (I didn't take any of them because I was concentrating too hard and managed to talk myself ...
No Brainer Trades
Did someone turn the light on?