green - sell
red - tp
any thoughts guys?
I think there is a retracement …should wait for that. right??
Sorry i know they are indicators lol, but never say never.
But indicators aside if you have an large S/R zone wouldn’t it be best to look for moves that are testing the entire zone, at least 50%.
The point i was trying to make about Risk/Reward in my last post its better to wait for a price action that has tested, not tickled the support area, taking the trade as soon as it touches the s/r zone is asking for trouble imo.
Even only taking trades that have tested over 50% of the S/R zone would allow you better risk/rewards since your stops would be smaller and gains increased.
from a risk management standpoint its a strategy all in its own : )
anyways you see the point i’m trying to make ? … Patience
on another note, that reply was due to a post (#19577) where someone was saying he had 1:2 ratio, i was trying to explain why placing stop within s/r zones wasn’t a good idea by finding a similar example, and by placing the stop in a safe logical place (outside s/r zone) it was really only a 1:1 ratio.
Ok I never said anything about your indicators. S/R, trendlines, candlestick patterns themselves are all forms of indicators. They are all based off past price. What ever tool you must use to get the job done, well its your call
What I was referring to (and its my own opinion nobody elses nor do I mean any offense to you personally) is if you are going to give advise try to give it on the right side of the chart where price has not already printed. Its easy to see a low and say, well you should have waited for the next lower low to get in. However to a newb it may even mean something but it dont teach them anything. Nobody knew that lower low was going to happen not even you, least not till after the fact. Then even a rookie can figure out oh I should have waited. You really dont need to explain it at that point.
Again I mean nothing personal to you. I am just stating an opinion (my opinion). Advise should be what we see and why we see it that way (before price paints it across the screen). Then I feel as though they will truly get a feel of what you see in real time, not after the fact.
i see you still miss the point i was trying to explain.
regardless what is on the chart, having a more favourable risk to reward will always be better,
and waiting for these situations will make you more successful in the long run.
P.S My original reply was to an active trade, the example given that used past data was to illustrated the point i was making about a current event/chart. (post #19580)
Oh sorry I should probably read the whole post next time. To make my life easier (and theres) quote them next time. Like I said was not attacking you but what you said just left me with comments and I speak my mind even if it is unwanted.
all good, i try to not use too many quotes when i’m first to reply or in an active conversation, i’ve included the post number with a hyperlink in the previous post. hope this helps.
on another note wish me luck, possible £750+
25%+ profit on this trade if it runs the full course
2% risk
hi Jamie & bobmaninc,
Thnx for your discussion i am able to understand some points from it…
i wasnt really using point of deeper test of SR zone for better RR infact i was taking every second trade with candle sign without considering what RR would be… my bad
Where have all the long term posters gone off this forum now ?we seem to be getting a bit off track lately which is a shame ,perhaps they.ve all packed it in.
Maybe they have all immigrated over to forex school online.
Maybe they are all so rich they cant be bothered posting anymore.
Maybe they have given up.
I don’t consider myself a long term poster but I just like to sit on the sidelines sometimes and just watch. None of us have the responsibility of maintaining this thread. The OP should be maintaining the integrity of this as the rules were set up by him. We all have our separate lives but for Johnathan, this is his image / job.
Hope everyone is doing ok?
That’s good guys ,its good to know we’re not sailing in the Mary Celeste, happy trading every one.
I think sometimes a thread need to deviate from its intended path (temporarily) to help out others that may be lost on a certain subject to get them caught up to be able to follow along.
Sounds like support and resistance during a trend LOL or rather supply and demand.
Pretty much they are demanding information and its out job as well as the OP to supply such information.
My opinion is I would have preferred the close to be ABOVE that line. I will be looking for a solid break, a roll back down and retest of that zone to go long.