WELL I am NOT betting the farm on this trade, however It Looks very promising I am set first entry @ gartly D point and entry # 2 @ bat D point both SL @ 20-30 pips below x point Target 1 B point doesn't matter which both sitting on fib ratio. Target two I am going for C mark its sitting on Fib ratio and we been there in last 5-6 mo many times so it seems Market is attractive to 1.3900-1.3950 ********************************************************************** for those who are looking for more conformations set your alarm for 1.3581 and 1.3527 if it hit check your RSI over sold rating and enter the trade with SL 1.3450 70-100 pips risk for 150 + 400 pips sounds like a good deal to me Check your money management
Took a while going sideways but finally done and took first target on same day.
Nice. 135 pips + 70 pips =205 pips
Now @ break even trading risk fee for more Pips.
Good Luck to you all happy trading
K
oferforex
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Don't you guys get it? Technical analysis is BS. Learn the economy behind the currency, decide the market bias and trade. This is the only way to make money in the Forex market. The only technical tools you need is S/R levels and trend lines, and these too can help you just with timing not with the direction. I wouldn't long the euro until ECB June statement. If you are a day trader you might want to long it tonight during Yellen's speech but close it right after that. Any thoughts about it, someone?
LorenzoDecaria
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you are right, Fundamental Analysis gives you the correct bias, but anyway I think that Technical give you the right entry at the right time. Anyway, harmonic patterns are extremely powerful, but what I was just suggesting to Apple22 is that if he considers the closure of the candles, the same pattern is going to be different in different time frames. This doesn't happen if you consider spikes. Btw, anyone has his way to read the market, I guess he has done a lot of backtesting so that he can validate his assumption!
LorenzoDecaria
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sorry if I comment on your chart, but that patterns seem invalid; you miss to connect the spike @ 1.40. Price traded at that value, this mean someone traded that level. With this, I don't want to say that now price won't rise (we are at support level), but looking at that patterns they seem invalid.
KathysTheStockGal
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my friend if you are talking about C point it is the Wick of the candle I use Body of the candle. I DO NOT COUNT WICK OF THE CANDLE on my patterns.
Now some will count wicks YOU Will be right then but in this case My Friend I have to disagree.
And remember friend these are just Ideas share with community for them to enjoy and maybe make a little money.
But at the end of the day you will look at the idea and say I WILL TRADE THIS or NO ITS NOT FOR ME.
Wish you great trades
KathysTheStockGal
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Wicks of the candles is where NO ONE is winning. should we buy should we sell when there is no decision to be made its long wick.
LorenzoDecaria
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sure, these are only ideas. my opinion was just to point out that if price action reached that level, someone traded that level. so, wicks shouldn't be ignored. anyway, if your rules meet your backtesting results, it's worth to pull the trigger!
LorenzoDecaria
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sure, these are only ideas. my opinion was just to point out that if price action reached that level, someone traded that level. so, wicks shouldn't be ignored. anyway, if your rules meet your backtesting results, it's worth to pull the trigger!
Nice. 135 pips + 70 pips =205 pips
Now @ break even trading risk fee for more Pips.
Good Luck to you all happy trading
K