Quote:
Originally Posted by daedalus
NOICE!!! Post up your chart setup if you get a chance!
I just went short in the EURJPY from 158.71 on the 4H chart. Essentially entered at the 87% level, targeting the 23.6 level. Technically it made a lower low, lots of consolidation at the 87% and the price is at a nice discount. A good risk:reward ratio always makes things tasty.
Sitting up +43 on it as we speak but its far from over and its far from a risk free trade.
I got HAMMERED on an AUDUSD short yesterday for a -63 pip loss because I violated one of my key rules. I don't think i've illustrated this point to you guys, just mentioned it in a few pms amoungst us fellow fib traders so i'll try and add that to here.
Haven't been posting much because, well, there hasn't been anything to add. The method is what it is!
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Today I used fibs and s/r lines. I played eur/usd and usd/jpy also. Took alot of pips in those as well. I'll post the eur/jpy trades. I realize I left ALOT of money on the table but I am happy with my wins today. Mostly because I had no losses. Thats always a good thing. I was watching the last eur/jpy trade, was about to close it out for a loss and seen that a bottom was forming so I left it open.