I usually use a 15 pip stop but sometimes 10. It depends on setup - as I typically enter at 'levels' 10-15 pips in the red is a sign that I misjudged my entry. Tomorrow or Monday. Fridays are usually "risk-off" days so there may be a sell-off ...

Islander and Medici trade the European open

Indeed. Everywhere in the UK there's lots of empty retail space, even on Portobello Road, so where they get the 1.1% growth from would be interesting to know.

Islander and Medici trade the European open

Resistance — There seems to be firm resistance above for both Euro and cable. For cable the trendline support has now definitely turned into resistance. For the Euro the 38.2% retracement of the last leg of the move up seems equally firm. It ...

Islander and Medici trade the European open

The doji candle and the break of the 20 SMA could have been other entry triggers. The general principle is: When the trend has turned, in this case 20 SMA turned into resistance, wait for pull-back to the 20 SMA and enter when momentum starts ...

Islander and Medici trade the European open

Lucky bar-steward! Good entry apart from the news... That was a late entry. I took the short from the top (and the previous top) based on divergence and PA but closed for a dozen or so each, expecting the final burst that came later. Just by ...

Islander and Medici trade the European open

And same thing in the Euro...

Islander and Medici trade the European open

More BB stuff for you. Notice how the 100 SMA first is support then resistance.

Islander and Medici trade the European open

Then maybe you could watch the BBs and when price reverses and gathers steam, you go with the flow!? Sweet dreams!

Islander and Medici trade the European open

Probably the wiser option in many ways. As for predictions, that's something I'm trying to stay away from. It's more about patterns and levels with high probabilities. Some you win, some you lose. So once a level with confirmation is identified, ...

Islander and Medici trade the European open

What's stopping you?

Islander and Medici trade the European open

That non-directional part of the day when the European order books have been cleared. That's why I stayed away. And more than usually, all eyes will be on the equity markets. SPX is currently at 38.2% of last week, and seems to be parked there. So ...

Islander and Medici trade the European open

In this case the top was also 200% of the Asian session, plus the trendline support turned resistance, plus CI divergence, plus...and in conjunction with the BBs, hard to resist in my view. You're welcome, and discussion and sharing appreciated.

Islander and Medici trade the European open

Hello ph54, and welcome! Yes, indeed, most OB/OS oscillators would, but not all would show divergence

Islander and Medici trade the European open

Noticed that one. Risk&reward not in my ballpark. Attached chart is an example of what I mean. Worth looking at those BBs, you think?

Islander and Medici trade the European open

Maybe it's different if you have identified the levels in advance, and when price is approaching you have confirmation by divergence and BBs, so the entry becomes a bit less stressful. Note that all turning points to the major swings in the Euro ...

Islander and Medici trade the European open

Glad to have you back, lazy boy Are you using 100min BBs for your psychedelic sessions?

Islander and Medici trade the European open

Haha, no, wouldn't bet on the news. So I stayed with AUD and EUR.

Islander and Medici trade the European open

Yes. In this case, the touch of the overnight low - it's the 38.2% retracement of the move up from the early June bottom. And it's an old pattern from one of the early posts - when breakout during Asian session then retrace and continuation - see ...

Islander and Medici trade the European open

Hello Eamonn, and welcome to the thread. We're honoured by having your first post on our thread. Feel free to post questions, comments, and suggestions as you see fit.

Islander and Medici trade the European open

GM - some easy bottom-picking there (thanks to CI divergence) for a few but the mood seems lacklustre out there.

Islander and Medici trade the European open