It hit my SL to BE+66…a high of 90+ which was my goal…but I didn’t want to close then…so 66 pips:
For me 25 pip SL is pretty large…I try to find a RRR (3+:1) where the SL is less than 20 pips, usually 10-15 pips…with a target of 30+.
Technically, your trade should hit your TP without having to move your SL…for me it’s all about risk reward…
If you start with a 25 pip SL, and a 30 pip target…you need a very high success rate…
When my trade gets triggered…it’ll go back and forth, so moving your SL to BE too soon will knock you out…you can either close for a smaller pip goal…use a trailing stop that allows for fluctuation without getting stopped out…manually move your SL inch by inch to where you think it will be safe…set it to BE after “X,Y, or Z” pips…and/or leave your SL alone until you hit your target…
Every trade is different, depending on your target, price action and how sure are of your trade…and whether you are watching your trade or away…
Personally, I use a larger SL when my trade is in the positive…though the SL is always going towards BE+…
For example, if my SL 20, TP 60…usually, I find figure how much the market will range…if it’s ranging about 25 pips, then I’ll have my SL 25+5 until I hit my TP.
In short, I initially use a smaller SL…open up (increase) the SL according to the “range” of fluctuation + a few pips (range + “x” pips)…so that it can move up and down until it hits my TP.
Well done for CD leg trade Stupip! I found it was difficult to trade at D recently, mostly because of its anti-trend character, while a CD leg trade seems more like a in-trend trade. Could you share your strategy, especially how you judge it would likely to form a CD leg, and the entry point. Do you lower your time frame for an entry or use the same tf chart for the CD trade entry?
Maybe this is part of TMB’s Hydra strategy…a refine C to D trade…but who knows…
But yea, you can find C entry on same timeframe or lower timeframe…if you draw/measure from a potential C and find a D with good convergence…then your C is currently valid until it breaks C…I would enter near that C…with SL just above/below it…
Hi! May I ask you about this trade? This is a bearish bat, in H4 (pretty big trade!) and I want to ask if it is well calculated, if the stop area (the red box) is OK, if the PRZ (blue box) is right, if the first target (the beginning of the green box) is ok, also the second target and third target (end of green box and end of yellow box) are ok.
The Navy (dark blue) triangle is what a AB=CD triangle should look, well, that’s what I understand.
Thanks, Stupip, that would be marvellous. Here are three I am trying, AU/UDS 1H a little bit hustle (c=0.382 retracement), EUR/GBP 1H looks good (c=0.618 retrace), and NZD/USD 1H (c=0.618 retrace). Please add your comments, Stupip.
Mate, these are some awesome AND what is looking to be some pretty consistent results! What would you say your percentage success rate is on the cd trade?
May I ask you about the fibonacci ratios on the patterns? I want to know for example, in butterfly XD is written in documents as 127%; 161.8%. What I don’t know is if I need to look for PRZ on 127% (plus/minus P percent, like 5%) or on 161.8% (+/- 5%) or if it is a range between 127%-5% to 161.8%+5%.
Because is more easy to find patterns that fits on a range than others that fits on a value.
I just entered a trade with a Crab pattern. What do you think about it? I added triangles that shows the range for AB=CD pattern and others that have the same range for time, but not for price. For Crab pattern I think the time should be greater than for bat and gartley, but I didn’t find yet the valid range of time.
Looks correct to me Medisoft. Just be aware that there is also a daily gartley using X 84.00. PRZ 82.00-82.70. If this fails could become a Crab and trade all the way up to 1.618 XA (89.80)
As for your question on the fib ratios, I prefer to use 1.272 XA for butterflies (0.786 B retracement), and save 1.618 for crabs (0.618 B retracment), but I know many say either 1.272 or 1.618 is acceptable for butterflies.
Thanks. I don’t speak English very well. My question is about…, let’s suppose you use 1.272XA and 1.618XA for butterflies. If there is a 1.5XA, does it is valid? or it must be 1.272XA or 1.618XA?
The same for others like Crab that should have 2.24BC or 3.618BC, does a 2.618BC is valid? any value between 2.24BC and 3.618BC is valid? or only on exact fibo levels?
Wow!..crazy price action…seems very abnormal for AU…and took me out of my 2nd position with this drop…and netted only 26 with the second position on this account…even on the other account…
I was killing this AU trade…and one 30 min candle with a 89 pip range took me out…(and my SL range was set to 80)…seems a little fishy?
