My strategy would be this, on GA...

Price action trading - Trade like the pros!

Merry Christmas, everyone

Price action trading - Trade like the pros!

If I assume my entry is picture perfect I will use a less than 10 pips stop. If I deem it a little too volatile, I will place a larger stop - within the 15 to 20 pips. There are setups like the HOD-LOD London one, where I will use a 10 pip stop or ...

Price action trading - Trade like the pros!

Nah.. well sometimes I will but not as a rule of thumb though. I set a stop as tightly as I can afford and I base my lotsize on my stop size

Price action trading - Trade like the pros!

Great job! Keep at it, and you'll be raking in tons I do 30 pips as a standard TP on EU/GU simply because it's roughly 1/3 of the daily ADR and it's an easy to achieve target - ideal for intraday trading. Sometimes I will do setups that take ...

Price action trading - Trade like the pros!

GU short +30

Price action trading - Trade like the pros!

EA long hit for +30, I was cautious

Price action trading - Trade like the pros!

Well there's a time and place to take counter-trend trades. Even if I'm bullish longterm, I may still sell in the short term. It's all about cherry picking scenarios, like today. As for managing the positions, I use regular risk parameters. If ...

Price action trading - Trade like the pros!

Of course it's not flawed! It just depends on perspective The problem is, that move already happened and any support 1.0430 offered in the past may be absorbed now.

Price action trading - Trade like the pros!

Because I am looking for a deeper retracement, simply. Remember what we talked about market structure shifts and retracements. There is nothing fueling a euro rally, except for speculative trading. Ergo, it can't settle for a retracement as shallow ...

Price action trading - Trade like the pros!

It's a ballsy call, because everyones sentiment is still bearish and looking for parity. I stand by my belief, that we might not see parity any time soon.

Price action trading - Trade like the pros!

I'm still going by the logic that the swing at 1.0477 was taken, and price needs to retrace. When it does so, I usually pull my fib and look for the 50%, 61.8% until the 78.6%. Inside that area, we have a lot of horizontal levels. We have an hourly ...

Price action trading - Trade like the pros!

I hope this clears it up... Sorry if I confused you. I'm open for questions and clarifications If you spend enough time looking at charts, your eye will get used to which swings are noise and which ones are the real deal, don't worry. It ...

Price action trading - Trade like the pros!

This is H1 market structure we're talking about here As I've said, I watch daily MS for overall trend, but I keep an eye on hourly market structure in order to quickly spot shifts in trend. Also, the short trade was based on the premise that when ...

Price action trading - Trade like the pros!

I will now wait to get in on a long to 1.07 as I said...

Price action trading - Trade like the pros!

Buy the dips is the right strategy for me For me, the euro is now a bullish market until 1.07 perhaps, will have to adjust later on.

Price action trading - Trade like the pros!

And this explains why I took the trade. Also as per our knowledge on MS and swings being taken out, I've now got a short

Price action trading - Trade like the pros!

Yday's long, closed for +30 at TP

Price action trading - Trade like the pros!

+30 at the end of the day.

Price action trading - Trade like the pros!

In fact, if the euro fails to close below 1.0400 today, chances of parity by the end of the month grow weaker.

Price action trading - Trade like the pros!