My target is fairly modest, not really looking to get a breakout just a bounce back to the resistance zone at the top of the range. Even with that, my ratio is around 8. Can't beat that with a stick!

USD/JPY Discussion

I think I'm going to go long here as well....great risk to reward ratio despite only relying on the s/r zone holding. Keep a tight stoploss and it should be fine in terms of risk.

USD/JPY Discussion

Oops, I think there was a miscommunication; I'm not referring to floor pivots but to areas which have been tested on both sides as support and resistance. I don't use calculated levels, although some swear by them. Also, in with a short at 1.30802. ...

EURUSD

Hey it works for you apparently, so I can't argue that. I'm going to try a short around 1.3080, maybe price gets there tonight with the recent 5m rally.

EURUSD

Why not the pivot level at 1.3080? I don't see a lot going on in the 1.3090 range up until we hit 1.3137 at the double top.

EURUSD

It's a decent short term s/r zone but I don't really think it's a key level. 1.3080 is something that will give us a better picture of whether we will see the big triple top showdown or not.

EURUSD

A 200 pip stop-loss is still pretty rough even for a swing trader. Are you trading off of the yearly charts or something?

EURUSD

What makes you say that? I'd be surprised if retail traders like us got news before the big movers did.

EURUSD

I consider anything already public knowledge to be priced in. Surprises are what I worry about.

EURUSD

image More on topic, waiting for price to actually do something...has been a dead pulse for the last 8 hours...

EURUSD

Liquidate your position now.

EURUSD

The market is never too low to sell and never too high to buy. Although, I agree there are some good short opportunities coming up.

EURUSD

Completely agree. If you're using an emergency stop at least you still have some sort of stop. Way better than not using one at all, because black swan events do happen and people can have a good chunk of their accounts wiped clean if they don't ...

EURUSD

Still think it's going to hit 1.3080 before it has a chance to turn around, if not just to pick up momentum.

EURUSD

A stop should be placed where you know your setup is invalid. If you wait until it gets there the only thing that's going to happen is all rational thought goes out the window and your emotions take over. Stops serve you well if you use them right.

EURUSD

Never play this game without a stop loss, it's the easiest way to lose control. If you're already losing money and hoping for a selloff don't hold your breath, better to cut your losses and start fresh than to gamble.

EURUSD

Every time you buy or sell at s/r you're timing the market. The only difference between this and longer term swing traders is the time frame. Also, my luck again, stopped out at break even last night only for me to wake up to it having gone 40 pips ...

EURUSD

Closed my long at BE...went 25 points into profit before turning around. Oh well, at least my broker is happy.

EURUSD

The market can stay irrational longer than you can stay solvent. One reason I put more emphasis on technicals than fundamental factors, although the fundamentals haven't been all that bad for Euro standards recently. I pull to break-even at +20 and ...

EURUSD

I'm sure it was well worth it....hopefully I manage to make it to your level of success in due time.

EURUSD