See how ADX lines turned positive, blue above red.
SAR was delayed (It didn't came with the signal candle)
The correct entry would be 1.3144, when SAR agreed on the trend.
Closed 20+ in demo
and 21+ in demo for Cable
It can go up more, it's your own decision.
I want to add that using Heikin Ashi makes trends shape easier and market waves as well. If you made a deeper look you can tell me when the market wave is ending from the looks of shadows and candle colors.
(Often, there is a series of candles in one direction)
Picture for recent newest trade,
I wish you caught it.
What is Heikin Ashi? I read where you mentioned it in an earlier post.
Regarding where to place a SL; it's really a difficult decision. In my opinion, this is one of the two items that makes the art of trading lean more towards gambling than investing.
When I comtemplate theories of where to place a SL my mind starts spinning. I don't want to place it too close and have it trigger when the pair may have just been going through a few of it's wild movements before heading off where I want it to go.
On the other hand, if I've stepped into a trade that is destinded to take off in the opposite direction (determining the direction a pair will travel is the second item that puts trading into the gambling arena,) the loss is as large as where the SL was placed.
To summarize; for me two clouds hang over my head 1) which direction a pair is really going to travel, and 2) where should I place the SL?
I like to type out my problems, it causes me to review my issues.
Heikin Ashi is a candlestick pattern that makes market trends look better and easier to identify (ofcourse in trending markets), If you see any picture above, there will be a series of red candles or blue candles in a row forming what is like a "Trend" or a "Wave".
More on Heikin Ashi (from investopedia)
The Heikin-Ashi technique is extremely useful for making candlestick charts more readable--trends can be located more easily, and buying opportunities can be spotted at a glance. The charts are constructed in the same manner as a normal candlestick chart, with the exception of the modified bar formulas. When properly used, this technique can help you spot trends and trend changes from which you can profit!
I share your problem. Stoploss is the biggest challenge of forex, may I tell you I got 2 trades stopped out at -30 when S and R breaks only to see trades went my favour after hitting SL to make around +40?
It's a serious challenge. If we do not use stoploss, that can wipe out accounts. If we use stoploss, we need to know that it's really the right point to-stop-loss.
So placing your trailing stop and stoploss or any stop order is very big decision. Indeed, while the method gives you all accurate trades, one trade last for 10 pips, and another for 100 pips. You can't know.
From my experience, the trade won't fly through my direction just when I open it, and that makes putting a SL harder.
Yes, we suffer the same problem. After reading all of Elang's posts it seems his method makes deciding where to place the SL easier. However, when someone takes you by the hand and feeds every move to you with explicit directions it makes it all seem much easier than "when you find yourself left home alone" to figure it out on your own. The guy is good though, really good. Can't believe he's only 20.
Search for the Holy Grail. There may not be a holy grail but it doesn't mean that you can't look for it. Continue to explore systems, indicators, and anything else you can get your hands on. It will help you in developing as a trader.