FX:EURUSD   Euro Fx/U.S. Dollar
FOLLOW UPS ON THIS PAIR IN COMMENTS!!
Following up from last night, i was watching this pair for a while, and notice the persistence of price action upwards. i haven't given up on this pair as yet, just another possibility. stops placed at the close of C, so i'm still waiting for the downward move.
If you want to play it safe you can always get out and reenter when price gets a bit higher, but in my opinion, there's nothing more to lose by staying in, since your stops should have already been determine before entering; and not just where to put your stop, but what is your per pip price after your stop. Please remember, if you define that you're only going to lose 100$ on this trade, then you needn't worry.
Also, i don't invest more than 1% of capital on 1;1 trades. I don't usually trade anything less than 3:1, so this trade is a dry season trade. Trading is a business, and no individual trade can tell you your profit and loss, this can only be determine by a series of trades..
DayFarrell
2 years ago
snapshot

so my original trade was a bust, but i haven't iven up on this pair as yet. there are two options for this pair. 1. If price touches 129517 during this hour, then this chart is invalid. however, if price doesn't touch and continue downwards, i'm looking for a bounce at 1.29237. so trading both ways i can get a few pips. first move (pattern) looking for 20 pips. second is about the same.
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DayFarrell DayFarrell
2 years ago
Each supposed candle is based on a 2 hr time frame, not 60, i prefer use 2 hour candles when doing candle analysis, to me it gives better signals. i will always check the 60 against the 120 before making any decisions. the whole point is having an idea as to where the price is going to range fore the next 4 hours, i think we will get our desired fall this afternoon. The best thing about attempting that trade, is the define risk reward that is set up at 1.29517
i will be a bit apprehensive before entering this short because of the conflict between my stops and the speech this afternoon. i'm not worried that the price is going to spike upwards, i'd prefer wait for that spike (if it happens) and try to get in a bit higher. the pair is still pressed under the weight of averages, so a sustain spike upwards will be very difficult.
snapshot
Reply
DayFarrell
2 years ago
Each supposed candle is based on a 2 hr time frame, not 60, i prefer use 2 hour candles when doing candle analysis, to me it gives better signals. i will always check the 60 against the 120 before making any decisions. the whole point is having an idea as to where the price is going to range fore the next 4 hours, i think we will get our desired fall this afternoon. The best thing about attempting that trade, is the define risk reward that is set up at 1.29517
i will be a bit apprehensive before entering this short because of the conflict between my stops and the speech this afternoon. i'm not worried that the price is going to spike upwards, i'd prefer wait for that spike (if it happens) and try to get in a bit higher. the pair is still pressed under the weight of averages, so a sustain spike upwards will be very difficult.
snapshot
Reply
DayFarrell
2 years ago
really nice, i'm proud of this one :) part of my goal in trading is to be able to predict at least, 5 candles, i just did two in this trade, i might not have the exact prices but they are pretty close, while most persons were gonna trade the pattern only, i got 22 pips down, and 28 pips up, and now i'm in for the long haul pattern which is about 78 pips, even if it turns around, i still make a profit. So being able to predict candles not only gives me the advantage, but it takes away all the risk. that penny loss from the previous trigger, it's all covered.
Not usually the boastful type, but it feels good to achieve goals and to make a vision a reality, (though the vision is always more dramatic).
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