First trade for Wednesday. RN and Time as main confluences. Just 20 odd pips. 90% of my trades are reversal as i am still not able to see continuation or trend trades..lol. Trade Well All.
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DislikedFirst trade for Wednesday. RN and Time as main confluences. Just 20 odd pips.
90% of my trades are reversal as i am still not able to see continuation or trend trades..lol. Trade Well All. {image}Ignored
Disliked{quote} Hi Whitesta, Just my opinion but nice trade I reckon. And imo I dont actually call those reversal trades, yours above I mean. To me the classic hard-coded reversal trade is one from a 'strict' target entry on the run down like the red candle four x 1mins before your entry. Reversal traders are often trying to get price to bounce back off the very 1st touch of that RN750 (the 09:58 candle). You showed good patience imho & waited until the Franky edit lol:London Open candle to see what direction momentum there might be, as either a continuation...Ignored
Disliked{quote} Took someone's advice and looked at longer time frame - 15 mins and then zoomed to usual 5 minute. Came up with nice horizontals. Not traded by -just tracking forex for now. My Dax trade is over on Marks thread. {image}Ignored
Disliked{quote} Playbook trades, London Reversal , Shake-outs, Break of Structure, Add-ons, Continuation, Targets. Recognise the set-ups by zooming out or higher TF view. {image}Ignored
Disliked{quote} Hi Whitesta, Just my opinion but nice trade I reckon. And imo I dont actually call those reversal trades, yours above I mean. To me the classic hard-coded reversal trade is one from a 'strict' target entry on the run down like the red candle four x 1mins before your entry. Reversal traders are often trying to get price to bounce back off the very 1st touch of that RN750 (the 09:58 candle). You showed good patience imho & waited until the Franky edit lol:London Open candle to see what direction momentum there might be, as either a continuation...Ignored
Disliked{quote} Hi Timetells, Yes these days i tend to wait a bit longer for price to show its intention. At times it just continues with the trend even after giving few confluences. I try and look for momentum after a reversal candle mostly. Even then i get at it wrong sometimes...lol. Also i try to look for RNs, DO, WO, etc for profit taking. I don't really look for those long runs. Price has reversed on me many times so i am happy if i am able to bank 15 to 20 pips. Trade Well All.Ignored
DislikedUS inflation lower than expected. This is the hopium that rates will not be raised as much. And this was only 0.2 less than guessed. 7.7 v 7.9 The big difference was from last report. 0.5 difference. 7.7 v 8.2 Time has a way of making inflation look less harmful. But the damage has been done and the central banks (all of them) were very late to the party.Ignored
Disliked{quote} The CB's are the Casino owners, they never lose. They can always print more money and squeeze out profits.Ignored
DislikedUS inflation lower than expected. This is the hopium that rates will not be raised as much. And this was only 0.2 less than guessed. 7.7 v 7.9 The big difference was from last report. 0.5 difference. 7.7 v 8.2 Time has a way of making inflation look less harmful. But the damage has been done and the central banks (all of them) were very late to the party.Ignored
Disliked{quote} Not traded today. Just back and noticed sp500 going through the roof at 1:30pm UK time ? What happened to cause sp500 to shoot up. I put up 4 hour chart with highs at level of sp price explosion long - relevant or not ?? 5 Minute chart shown with "Roadmap" channel and levels Any comments chaps?? Must be someone about {image} {image}Ignored
Disliked{quote} I was referring to their response to inflation. It was obvious last year.Ignored
Disliked{quote} Hi Timetells, Yes these days i tend to wait a bit longer for price to show its intention. At times it just continues with the trend even after giving few confluences. I try and look for momentum after a reversal candle mostly. Even then i get at it wrong sometimes...lol. Also i try to look for RNs, DO, WO, etc for profit taking. I don't really look for those long runs. Price has reversed on me many times so i am happy if i am able to bank 15 to 20 pips. Trade Well All.Ignored
Disliked{quote} Playbook trades, London Reversal , Shake-outs, Break of Structure, Add-ons, Continuation, Targets. Recognise the set-ups by zooming out or higher TF view. {image}Ignored
Disliked{quote} Cable experiment - not traded by me. Look at Cable and those BRN's E/J and G/J were better though for "trendiness" trading Comments welcome {image} {image}Ignored