Quote:
Originally Posted by jpat1023 I would definitely disagree.
See above.
Yes.
Friday, Eur/Usd...if I have time later (and decide I want to) I'll go through my entire thought process...I went long at 1.4206 (with a limit order even) as price quickly left the obvious area of demand...where do you think I exited? |
@jpat1023
Since You definitely disagree with me, maybe we could exchange views on this topic to move on. Im here to learn. Correct me, if I?m wrong.
I assume you refer to the PAST major swing highs/lows as a POTENTIAL area of supply/demand. Is that right?
If that is so, what makes You think, that there have been orders sitting NOW? (history repeats itself, right?)
Im sorry, if this seems a bit too strict, but placing buy limit order somewhere 200-300 pips below current price with maybe 50 pips SL is a bit ... predictive. You expect price to fall few hundred pips and REVERSE approximately in your PREDICTED area and then go back for You to exit with cool profit.
Is this how You traded EURUSD on Friday?
Don?t get me wrong. Im not saying it?s not possible. Just trying to understand the rationale behind the trade as I learned the hard way, that in order to measure some edge (assuming You have one) you need to be able to quantify it somehow.
Bluefish
P.S. To answer Your question: I think and I wish You exited somewhere around 1.4315