Hmmm......no scalping on Oanda ??? Really? Thats the first I have heard of that.
I use the GFT platform.
Anyway, to complete the charts for this trade. Notes below >>>
By
tymen1 at 2008-03-17
We now enter as shown.
* * * * *
The chart below shows the final result (which you can see from the main chart anyway) >>>
By
tymen1 at 2008-03-17
Please note that the highest price (the best possible entry for going short) was no higher than the upper Keltner band as was predicted.
This prediction method saves a lot of headaches when trying to decide the best entry point.
Then, as you can see, the price roared downwards and, since we are going short, we make a nice profit.
This now ends this particular trade. Comments invited.
I will continue with more of these trades to help the understanding of this method.