Hi Pete,
Did you make those other indicators on your charts too?..the strength and weakness one and the other one?..whatever it is
No, Iām no programmer.
As I was saying on friday, Iām expecting that one final push up on e/u. Good place to grab the shortā¦could give 400 pips. Iāll need to see climactic action, ie. high volume with no new high, wicks, double tops etc.
I started scaling in shorts after seeing thisā¦
If she goes higher, Iāll add on further confirmation of weakness. If not then Iāll let it ride, lock BE and pick off profits along the wayā¦hopefully all the way down to 1.36 area.
A +400 pip trade with no draw down? lolā¦donāt get ahead of myself.
I banked 1/5 of my position +34, and looking to lock BE pretty soon.
Shorts are locked BE, if they get hit I can look to short higher.
All the chatter coming down the wire is NOT supporting my trade, this should be interesting.
yes petefader, seems like you changed your opinion nowā¦ ? lol or maybe a little
Whats scaling?
nope, this was actually my plan since friday. Remember, I said I was looking for one more push up to go short. We got that push up early London today.
This was the chart I posted FRIDAY in your threadā¦
This is nowā¦
It means entering the trade with multiple small trades that add up to one whole position, risk wise.
The advantage is that you have lots available to add to the trade if you get a better price. I donāt do this on small scalps, just when Iām trying to position for a bigger move.
Ok yea i remember dude, was pretty good insight you gave me. I thought u was expecting another push for the highā¦ or above 14100ā¦ i misunderstood soz.
Banked alittle more profit +50 on this, as it may be hitting some stopping vlmā¦just look at the increased volume at this lower price nowā¦on your 5 and 15min chart.
Letās see if I have the patience to not touch the rest of this trade until itās +100.
Yes, I figured that was a possibility. I couldnāt be sure when or at what price I was going to short, I just tried to get in there when the smaller TF gave me a short setup, and Iām hoping I catch itā¦and manage my risk and positioning along the way.
Im watching what your watching dude, i like this style to be honest. We will see i guess, i hope a drop is coming. But im still thinking another push higher than the high.
Interesting system.
By the way I love your charting colors.
lol thanks.
ā¦notice how Iām picking places to take bits of profit off based on increased volume to stop down movesā¦sign of buyers, and probable pull back. ā¦and pullbacks can become reversals.
Yeah, but this is an acquired skill.
The more I trade, the better Iāll get.
I wouldāt be surprisedā¦There is a crap load of buys sitting on the books, and they need to be closed before they concur a real retracement.
Why not close them as high as posible and then get your shorts in while your up thereā¦this is how they generally operate.
Porbable pull back in favour of the euro ?