Hi likepips,
It will be very difficult as I have not traded lower than H4 in almost a year. I will see. The same principles apply for trend continuation. For example, failures on the 55% & 89% suggest continuation. Also patterns in trend direction that trigger 11% setups.
GM Everyone!
Stop @ 103.60
Exactly likepips.
My GBP/USD, NZD/USD & EUR/USD trades were stopped. My EJ stop is no at 103.30.
Good good likepips. I see you are catching on very fast.
You explained it so well that anyone can get it quickly…
Good Job
Thanks likepips!
I start my day at london open so i will try to post my charts at that time… with M30/H1 time frames… scanning 5-8 pairs including Gold and crude oil… will try to set my daily goal with it…
Happy pipping to all
Thanks and same to you likepips!
Waiting to see how these close in the next couple of minutes. Could be strong retracements/reversals.
EUR/USD H4
GBP/USD H4
AUD/USD H4
Nice setups Bank. I’ve been eyeing the aussie since yesterday, just have to sit and wait to see how our setups play out.
Hey swallowtail,
Thanks. Yes the 11% entry most times requires confirmation through testing. But the risk is so low sometimes I take them once price hits the level.
BankDaPips,
u r marking both swings (recent one & major swing) i m not that much advanced yet so what swing way do u recommend me??? majors or recent one???
Yes likepips, the recent give lower risk entries but are lower probability especially with the strong selling we have seen over the past few days. Once price begin closing above major swing 11% levels we know we are likely in a strong swing trade.
Additionally likepips, it is good to mark the major swing levels so you can see the strength of buying interest or where sellers are likely to continue the trend and vice versa.
Ahh i see, i have always been using the test- retest confirmation for entries. But looking back at setups over the last couple months, i’ve seen instances where i couldve entered right at the level. Will def incorporate this into my trading plan, thanks!
Likepips and also take special note of the confluence of the 11% levels from those two swings which can indicate the strength of the buying or selling interest, as Bank mentioned
