tntsunrise
Short

GBPUSD NICE PULL BACK TO 0.618

FX:GBPUSD   British Pound / U.S. Dollar
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243
19183 114
GBPUSD             NICE PULL BACK TO 0.618
Look left the Structure is also at same place

Short GBPUSD             now SL : 1.3215
TP1: 1.3100
TP2: 1.2850
Trade closed: stop reached: stopped at 1.3125
exit by plan
Comment:
Apply the same methodolgy
Comment: watching the comment area is really fun.
all kinds of people show their face.

Yes the first trade was a loss, and we exit very well
then the same pattern just shows again,
Do you dare to trade the pattern again? Are you able to find this trade?
or do you just sit there and do nothing, wasting your time to comment" good trade or bad trade?
Comment:
618 again
1.1305 short one more time
I guess you meant , 1.3105 or?
Reply
So I am a fairly novice trader however I starting to become consistently right (more times then not) and I like to review your trades and your thoughts and I like to see your analysis because your very knowledgeable so when i saw this trade fail I tried to dissect where the trade went wrong and where a better trade could have been placed, so I went back and did some backtesting and found someways to maybe have made a better entry.

(Disclaimer*** I am not saying I am definitely right, this is just MY IDEA they MAY be helpful)

The first place that I think this trade went wrong was making a complete analysis off just the 1 hr chart. If you went to the 4 hour or the 1 day chart, I think you would have seen that there are other major key levels to focus on as support and resistance and on the 1 hour chart it was just in a range which makes the probability of the trade be less likely to be successful.

I think to make a more accurate trade would be to be more patient and wait for the pricce to reach the more major key levels on the higher time frames and then use the one hour to make an entry and target price.
Reply
The first trade was a 60 min chart and the second trade is 240 min chart. There is a difference.
I mean would you trade that setup on a 1 minute chart? no of course not
Reply
@jamstock, i will. and a lot of times 1 min chart pattern also give you very good reward
Reply
jamstock tntsunrise
@tntsunrise, ok good luck with that. 1 minute chart is just noise in my opinion. It's like flipping a coin. But if you can make money trading it then fair enough.
Reply
Locoz89 jamstock
@jamstock, many traders can make money from the 1m chart, me included. Is nit just "noise" the same patterns appears on the 1m too, they are just faster
Reply
I'm in with: SL 1.3050 TP1 1.2925 TP2 1.2800
I am a begginer, what do you think of this master?
Reply
What is the best way to get your both tp cos i saw when price tp 1 hit the pul back thats why i ask how to get two tps
And trailng stop
Reply
price pull back at 1.30610, best entry point for long
Reply
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