Thanks a lot for your reply. I would of course always have two split positions targeting two different trouble areas. [U]I am not in his advanced course so it is NEWS to me that Johno teaches retracement entries for engulfing bars there[/U]. Now that is going to take me some time to digest…and think through. So I wont comment on that. As far as my understanding of Johno’s method goes, there is not much worry about RR, it is about picking high probability entries and trading with confirmed price action upto the next first trouble area with a reasonable reward. Wonder if ANY OF THE SENIOR TRADERS HAVE DECIDED TO TAKE THIS LIVE.
Raj
As for me, I am still in the sidelines, with buystop order on my demo account and I have not yet decided my course of action in my live account. …
So then your target area is around 24.5 somewhere? Would you just use 1 position or split the trade up? Just seems a bit risky for me as if you just play the break to that target the RR isn’t great with that bigger stop. I also use a position size calc but my point wasn’t the monetary value of the stop more the fact that it seems like a risky trade against very strong momentum with not that large a reward if it did work, only my opinion[/QUOTE]
[QUOTE=“traderamateur;492203”]Thanks a lot for your reply. I would of course always have two split positions targeting two different trouble areas. I am not in his advanced course so it is NEWS to me that Johno teaches retracement entries for engulfing bars there. Now that is going to take me some time to digest…and think through. So I wont comment on that. As far as my understanding of Johno’s method goes, there is not much worry about RR, it is about picking high probability entries and trading with confirmed price action upto the next first trouble area with a reasonable reward. Wonder if ANY OF THE SENIOR TRADERS HAVE DECIDED TO TAKE THIS LIVE.
Raj
As for me, I am still in the sidelines, with buystop order on my demo account and I have not yet decided my course of action in my live account. …
So then your target area is around 24.5 somewhere? Would you just use 1 position or split the trade up? Just seems a bit risky for me as if you just play the break to that target the RR isn’t great with that bigger stop. I also use a position size calc but my point wasn’t the monetary value of the stop more the fact that it seems like a risky trade against very strong momentum with not that large a reward if it did work, only my opinion[/QUOTE][/QUOTE]
I completely agree with the high probability low risk trades and the RR not being so much of an issue, but it would have to be with the strong bearish trend to be really high probability, I mean all trends eventually change or have retracements but it is safer to trade with one that large IMO, just my thoughts anyway mate and I’m still learning so don’t put to much stock in them. Wish u luck if u do take it live
Re my post at 10.45am today for the NZD/USD could it be a 2 bar reversal on the daily chart to go long? This would be in with the long term uptrend? Sorry on the daily chart
Am not an expert, just a student of forex like yourself, but looks like that bus is missed already. It was a PA signal (though the two bars are not of the same size) off a good level with rejection of a BRN, but countercurrent nonetheless against a good momentum with the first trouble area around where the price is now…0.8200 only 20 pips away from the break of the PA signal. I did not like it enough to take it. Am sure the senior traders will comment on this later. Also we are looking at mid to short term trend not long term trend for trading off the daily charts…This is my opinion, not trading advice …
Good observation about the gap Wookie. I had missed it. Though I wonder if this kind of a gap is a pro for the trade as it would add to the support at the base of the setup.
@Shannon - Look at the lows of the two candles and you will see the gap between the close of the first candle and the open of the second candle
Looks like a pin is forming on 4h, candle hasn’t closed yet, which is closer to the level I would want to short at, although atm it’s a bit small, keeping an eye on it though, the BEEB was ok but could’ve been a little bit higher up for my liking
1)With the trend
2)Resistance level + Psy level on 0.95000
3) Im not shure for the bar and that worried me is traffic before…
Some opinions from the masters…?!
Hi guys,
I have been lurking this thread for a while and learned a lot from you guys, thank you.
This my first post, please be gentle
Do we have live chat/skype for this thread ? It would be awesome.
NZDCAD BEEB on H4 with the trend. Resistance had been visited several time and holding up pretty well.
Any comments?
Ok, so you correct to be following the trend, now price has retraced but the BEEB you referring to is more like a 2bar. Remember its ENGULFING bars, the second candle did not completely ENGULF the first.
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