Older ideas reflect what I thought at the time. As you can see, I mapped the path rather accurately. Trades I don't need to map a longer term outlook to work though.
AristotelCostel
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OK, As a long term trader and trend scalper I see things from a different angle. So, I always need to map a longer term outlook.
IvanLabrie
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Sorry, somehow that came out wrong.
I meant that trades don't need to end up looking nice in longer term charts to work.
For example, I can trail stops and take profits before candles close, and many times this won't look good or clear in the chart in the future.
AristotelCostel
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Yeah. And when the trend is down, your short trail stops might not get reach so quickly. But if you prefer longs, it's your choice. :D
IvanLabrie
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I prefer whatever the technical elements suggest, sometimes it agrees with fundamentals, sometimes it's a contrarian setup.
Right now, btcusd is a contrarian long in my view, for instance.
EURUSD, I think it has some more room to fall, but not something I'd trade, compared to eurjpy (see my last eurjpy chart, for a clear short setup)
IvanLabrie
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As you can see my stop level was indeed a crucial one...I posted a new chart, showing a long setup in multiple Euro (and Pound) pairs.
Feel free to check it out.
AristotelCostel
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That SL solved the problem and the rest of the "long" position is just a decent opportunity for short entries to get several hundreds of pips.
Sudden price drops expected (waterfall) as Dollar significant resistance line will get breached.