I will strong my position one it break red line, first position will be opened at breaking of blue line
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Already made 6.66% profit over all my forex account (by only doing this trade). Stop loss moved to breakeven of +5.5% , hope all of you didn't missed it
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I will be waiting if at lest 1-2 bars will close under the big red line or i will look for buy depending upon structure
How do you handle correlation? USD is going up against almost all other pairs after Yellen news. How many other major pairs do you plan to trade beyond NZDUSD? Thank you!
Wave-Expert
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GBP USD , i have posted my new idea about GBP USD and nzdusd. Last three trades that i have posted, ended my in profit, all of them. Looking at chart structures i have stopped all of those trades and i am waiting for further corrections to enter into same trades.
Daniel_APM
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Thank you Wave-Expert. You analysis is clean and simple, and your trading is decisive! I seldom buy or sell "break out" because there are many false breaks. May I ask where do you put your stop when you sell breakout entry 3? Above entry 2?
Wave-Expert
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I use shorter time frame structure (30 minutes - 1 hour ) to stop my entries. My stop loss depends upon structure and is mostly just 20-30 pips away.
Wave-Expert
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Just imagine, if price breaks that yellow line and goes down, i will enter trade as soon as it will go through that line and that line will be my stop loss itself,