What about rounding top? Like the one GBPAUD had at ~9:50 ? You don't trade it?
Ignored
Hey, absolutely good find, very strong setup. Primarily i trade 90% on long side on all assets, but the strategy goes both ways, i just mainly focus on bottoms, but top like the one you pointed you defenetly a valid setup.
seems like reccuring, consistent pattern, just don't like small TP scalps, especially on big spread pairs, like GBPAUD. What do you think about that?
Ignored
Spreads are necessary part of it if you trade on low time frames, it is totally doable trading with spreads as long as you always enter in trade with limit order to ensure that you get filled as close to your preffered level and exit also with limit set order and not market order. This is how i always enter and exit of trades unless its traded on tight liquid asset. When it comes to max allowed spread you should take in account what is the TP/SL distance compared to your current spread on asset, if your spread is covering 20 or 30% of whole entry - TP price distance then you are most likely looking at too large spread. Mind that asset like that can still be entered for trade but you will carry additional risk if price goes in oposite way you want as you will have harder time exiting that trade on your preffered loss.
Mind that nothing in trading is "fixed" or "static" no rules are on its own to be set in stone, its all relative to your plan and strategy. That means that big spread for someone could be large spread while for other trader trading on same asset but trading different strategy within different targets or expectations could be completly different thing. That is why i have my own rule set in what is defined as "too big" spread. You can set those guides either based on TP distance or on SL distance, either way is fine, as long as you are consistent on their execution. Follow the image bellow.
(binned per thread starter's request) Market bottom rotation trad
