Earlier in the day I shared a chart looking at 2 potential advanced pattern formations on the EuroDaily Chart . Well, while in the Live Trading Room we also discovered a third opportunity her eon the 4 Hour chart in the form of an Advanced Gartley Formation. This particular Gartley has a deeper than usual "D" completion providing us with a better risk to reward ratio then what we would typically expect from this advanced pattern formation.
Filled Long at 1.1060
This is a LONG setup. Must have hit "Short" in the title by accident
Trade closed: stop reached:
Stopped out for -45
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I'm sorry but that's not a pair that's in my trading portfolio so I'm not up to date on what it's doing. Even if I was you haven't given me enough information to lend you my opinion (such as the timeframe that you're looking on). In general i would tell you this, if what you see on the chart meets the rules within your trading plan, then I think that it's an excellent opportunity.
I don't want to seem mean, but I feel as if giving you an answer would only encourage you to follow through with a trade that doesn't seem to be in your trading plan. And as a trading coach i hope you can understand how that goes against everything i preach and teach
Ooowweee! Nice one Akil! Unfortunately, the the R/R (risk part) is beyond my 100 pip risk rule...now if price action pushes lower I may reconsider. I'll follow the outcome over the days...Nonetheless, best of luck from your future 12WT member! lol :)
Yes indeed. With sooo many opportunities these markets provide, i'll be fine if I "sit" this one out. Me and USDJPY are in an ongoing heated battle on a 4hr cypher (def testing my patience and discipline!)...best of luck again...
nope..."sitting out" was me knowing that i did not properly evaluate entries/exits/and RR on this opportunity trade for THIS pair, and NOT clicking "buy" just because you posted it...lol...this has been my challenge (really downfall) for me in my 1st year of trading....i'd rush trades, hop in too late, hop out too soon, buy here, sell there, it reversed here, eventually sabotaging nearly all my capital..luckily i've taken a step back and slowed down ALOT...know i know, i'm only as good as my next trade, so if it didn't meet my rules initially, only to find out it was bc of an error on my part lets me know to not force the trade...there's always tomorrow...you're videos have taught me ALOT...eventually i'll have enough to take your 12WT course! thanks again!
I simply hit the short button instead of the long. However if I did subconsciously know what was going to happen, I did need to figure it out that way I'll never lose again. Funny because I just re-read a chapter in the new market wizards about a trader who actually did that