Nothing really wrong with it, just the gap as NIKZ said. I took the same trade as well. Remember a good trade doesn’t always make money and a bad trade doesn’t always lose money. Just as long as you are taking good trades you will be consistently profitable
Hello everyone
News concerning a pair ALWAYS affect trade on a [U]short term basis[/U]. So before entering a trade check if in the next 24 hours there are significant news coming about that particular pair. And if yes, important news are expected then simply do not trade before them.
News bring volatility and it can take hours, even days to get back in line.
Do you guys also stay away from ADP NFP (forecast of NFP coming out Wednesday)?
If for example, the 3rd bar from the right that looks like a BEEB but isnt because of swing high, “happens” to be a BEEB would the long wick behind it signal a problem ?
Have I missed an opportunity on the USDCAD? Daily is strong uptrend, and my 4hr image shows a decent SL with PB within an event area - is this an A+ FSO setup?
Cheers, James
No you haven’t , wait until the the news come out from the usd .
Seems quite good to me too, except for the trouble area around 1.25. Not exactly an A+ to me, would prefer a clearer traffic.
First trade of the year.
Yeah I know I’m slow, also busy with day work recently.
Strong bearish trend in daily EURUSD, saw a nice PB in H4 at SH, and with decent space for trade to run, decided to pull the trigger. Hope I’m not wrong in my analysis.
Congratulations on your first trade of the year Tranceaty!
I am short on that PB too, and have locked in some profit already. My observations and note to myself though on this trade are:
CONS: PB closed bullish. Is PB big enough to risk my money on?
PROS: PB off swing high/key level sticking out away from price with trend.
SUMMARY: I need to be very careful taking such PB’s. The signal closed bullish and is it really big enough and screaming out at me to trade it. Or is it whispering seductively like a mermaid from a calm looking ocean that could flip on me any second? G
If I would have caught this setup I would have been all over it. This is textbook A+.
Well G. you seem you have a keen eye on spotting setups
Just pay attention this is not a 2BR but and Inside bar since the second bar is smaller than the first
Cheers
I do agree with you that PB closed bullish may seems less “attractive”, but because it is still a valid PB and most important it’s at a good price flip level, I still decided to pull the trigger.
Just an after-trade analysis of the 2 candles before the trigger PB, it does seems like the bulls have lost momentum with smaller bars.
Just wondering, do u have the same concerns like G with it being a bullish PB? Or it doesn’t matter in this case?
I never noticed that 2BR needs the second bar to be NOT inside bar. Always thought that I just need them to be of approximately equal length.