Well your taking a good risk on this one incipious, although i would wait until the Au news come out in about 3 hrs from now, then decide which way you want to go.QUOTE=incipious;779299]Took this trade because price was unable to break above the resistance and formed an inside Pin Bar. A bit risky setup. But no risk no gain. I would jump up on this trade on 15th of this month but I missed the opportunity. As I’ve came up with the idea of this new naked trading from yesterday, I am going to jump into it now. Risking 0.20% and RR 1:2.
Actually right now I’m only focusing on TA. Not giving priority to the news. I want to see how only TA based strategy ends up. I’m willing to risk 30% of my account for this strategy. If I’m hit by that drawdown, I’ll quit this strategy and will include some more filters like news events and FA. But to be honest, I’m not good at FA. Thanks for your opinion.
This pair is ranging from last January 2016. Just figured out it formed a pin bar and engulf candle. Risking 0.25% on this trade and 1:1.4 RR, I’m going for a long placing stop below the pinbar.
I am excited about this thread. I mostly swing trade using price action and S/R. I would love to learn fron others that do the same. Looks like you found a lot of good setups today.
Welcome to this thread. I’m also learning and trying to implement different concepts in trading. Please feel free to post your charts as well as setups with us…
Those are actually both S&R. I mark those to identify potential S&R easily by looking at a glance.
Moved my SL closer to BE. Because I want to ride to that swing and I don’t want to be stopped out by SL… Now the risk of this trade is 0.06% and profit target is 0.42%…
I’m not a big fan of trading range, but this setup caught my eye… Risking only 0.15% or my account and targeting 0.27% for this setup… RR is 1:1.68… I’ll move my SL to BE as soon as I see some downward thrust.