lhDT wrote:For the trendline fans, here is a nice set on AU.
Question of the day is : Is it possible to draw a 90° trendline ?
Answer : No !
Action : Down
The steeper the rise, the quicker the fall....always wise to check the 1H, 4H and D1 candles...never know what you will "see"...
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
CJ, I didn't close my eurnzd short as I was aiming for the adr low and gap close. Do you think the trade is still good? Thanks for sharing your lunch menu.
Pueo wrote:CJ, I didn't close my eurnzd short as I was aiming for the adr low and gap close. Do you think the trade is still good? Thanks for sharing your lunch menu.
Consider and then you decide....
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
Nice. I was wondering when I didn't see it on your menu.. I haven't traded the crosses a lot, I have to get used to their behaviours.
I'm going fire up forex tester professional and go through bar by bar on the 4h some of the crosses.. For anyone that's doing the sim with Empty4, its pretty clunky with the fast forward as you can't easily start and stop it when you want, you can also go back in time and then press F12 for each new bar. With FX tester you click 4 or 5 times for each bar and see it in development, plus you can set your trades like in real life and it keeps your totals.
Pueo wrote:CJ, I didn't close my eurnzd short as I was aiming for the adr low and gap close. Do you think the trade is still good? Thanks for sharing your lunch menu.
Consider and then you decide....
CJ
Let's assume a short at the top (the last small "M" up leg), a correct SL should be above the high but by how much ?
As u know this is the favorite broker games to just stop hunt at the highs.
Here's a good one to consider from both sides of the glass....
Notice how they keep validating the fibo levels but the bar for price itself is always moving lower. This is creating a "false" S/R level. Longs will set buy stops above the false level. The next time up, those orders will be sitting in an artificially created zone, ABOVE the true price zone. It will be easy for them to trigger stops at that level again, putting LONGS in a very disadvantaged area.
SHORTS are no better as their stops are inflated as well and the return will see price spread beyond them and stop them out for increased losses as the pins are used for stops...
Thoughts?
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
