I think i’m just too happy to see a strong rejection on my weekly resistance that happened to be also my resistance level on daily.
will be more careful next time. thanks man
regards,
army
Ya, I agree, I might just take the NZDCHF with a tight sl and tp at .78500 as mentioned.
I will leave the CHFJPY, as you confirmed my concern about the size of the PB.
Hope this works out but as I am still learning, I will take something positive out of it either way. Glad to see my s/r are in the same spot as yours, there is a positive already.
Sorry to hear that my friend, do you want to talk us through your loss, so that we can all learn form it? Great to see ppl posting their wins, but seldom do we go through losses, why they happened and how to avoid them in the future.
Hi mate,
I am in this trade as we speak. I would say that the PB is of OK size only, but in the right spot.
The key for me to enter was the 2BR on the 4H that I mentioned in real time in my post #18932. Some made good profits from entering then or on the PB on the 8H, like Zubair, hopefully this daily PB works out too… so far so good.
Where are you planning to have your stoploss? If it’s above wick of 2BR then you’ll have to ask yourself if the gain is worth the risk. Something you’ll have to answer for yourself as we all have different risk tolerance.
Definitely a tight sl as mentioned, so no, not above the high of the candles, that would make the RR impossible, so most likely top of previous bar, so thinking around .767.
I have other signs pointing to this being a winning trade too, so makes sense to me to take it. Hopefully works out…
Attached is current situation on GBPAUD daily chart and am planning to short. Any advice is highly welcome
On my chart none of the candles look like a BEEB, as they don’t engulf any previous candles.
Possibly an evening star formation of all three candles at swing high, so I think it will work out. I have a pending trade at the low of first candle, with buffer.
Does your platform using 5 candle for a week
You have a nice keylevel there but no PA signals.
Wait for next week formations.
Cheers
Danielvs,
How do I recognize bearish engulfing ?
Engulfing means the candle needs to completely cover the previous one plus more.
You probably need to read the first 50 pages ,some very good information there to get you started,happy trading.
Buster48,
Find my attached on engulfing
Good luck trading this week my friends! Do your preparation!
Hi sirkay on looking at the GBP/AUD daily chart I don’t see an engulfing bar, have a look at panupat,s drawing above and you have good engulfing bar,good luck
Engulfing simply means second candle should engulf prior candle body only high and low of prior candle not important
At what exactly price you put your pending order?
Good Luck for everyone in new week 