Thats right. Did you ever thought to hedge it. so if u go long put a sell stop 5 pip under your initial order?
Sure, when it comes to scalping , you have to put your scalping hat on. You well know that scalping is very intense , but done right you can make allot of $$$ with it.
DD - Drawdown
I hope everyone was doing ok trading gaps , made 15 pips on GJ on market open, cant believe i missed AUDNZD gap of almost 150 pips size, it was amazingly easy 50 pips waiting there.
Here is probable move on gold M15. 1st and 2nd TP target. It depends if trendline is broken or not.
Gold reached 1st TP target on picture before.
Syrian war still on table therefore careful with longs this week on any pairs except YEN.
EDIT:
2nd gold TP target hit: 120 pips
Hi Jan,
Maybe it is a silly question, but please help me to again more knowledge. How you could predict that the price would be up that high although the trend was bear at that moment?
Any parameter I should look for?
Thanks & may pips be with you.
Ciaciu reason is simple.
- I was expecting gold retracement into bullish sooner than later. Bearish trend you see was simply selloff from top that was probably caused by profit taking it wasnt any weaking of longer term up trend of gold. With Syria and Fed in focous many analysts expect gold to go higher, plus if you check higher TF charts it all makes sense. I dont take positions aiming for 1000 pips like analists do simply becouse my positions are too big to take DD required for such TP but i do keep that in mind to search for bullish retracements that could sum up even more than this pips simply by looking on retracement entries .
2.Look on daily chart at momment of entry there was strong bullish pinbar, also part of V3 hybrid system (to be posted) suggested long entry.
With that said gold will go higher, probably 1413.00 is target i have in view now.
Here are some examples how you can also trade many ways of this system by simply using visual patterns as reference, they are reliable about 90% of time. When trading those patterns SL can be placed 5 or 10 pips above (on M5-M15) above or under pinbar, TP is usually 10 pips. Higher TFs ofcourse scale SL and TP.
1.“SNAKE TAIL”
This pattern is usually found in bearish trends but aswell on bullish trends. Main parts of pattern are:
1.Ichimoku trend (for bearish trend we look for bearish Snake tail, for long oposite)
2.Kijun and PA distance, the greater the distance on Snake tail confirmation the better the entry.
3.Pinbar - absolute NEED to enter trade.
4.PA enters (bumps) into Ichimoku cloud - this is not required but those entries are certainly stronger.
Next example is semi technical and semi visual pattern.
“BOUNCING WALL”
Main components of pattern are:
1.Higher low or Lower highs spoted, pointing to trend change. After 1 or two of them are spoted we draw trendline and wait for oposite Ichimoku breakout that it was presented before.
3.Trendline from which price bounces. Candle HAS to close above for long entry or bellow for short.
SL and TP can be used quite tight since after trendline is broken entry is no longer valid, usually those kind of entries can use much tighter SL becouse pinbars do not penetrate trendline in angle like S and R is penetrated while being flat.
Next pattern is “ROCKET”. Simply name from strong rally of big sized candles right on Ichimoku breakout.
Main components are:
1.Price rallying in strong (big) candles at same time as Ichimoku breakout starts.
2.Rally stoped by strong pinbar, signaling our entry.
3.Distance of Kijun and PA is additional confirmation if its huge.
This is pretty much most used feature of new Hybrid v3 system along with other patterns. It is very frequent pattern and becouse it is entry with trend instead pullback you can nettle much more pips than on usual pullbacks. Take profit on my M5 trades is about 10-20 pips on h1 is 40-80 pips.
“TREND DUMPER”
Main features of this pattern are:
1.Look for bearish entries in bearish trend and bullish entries in bullish trend.
2.Stocastic OB or OS.
3.Price coming close to Kijun or reaching it, Kijun has to point down or up.
4.Usually its best if pullback towards our entry is strong.
I usually do not use SL with this pattern, becouse price often tends to go trough Kijun but then it stil dumps like it is suppose to, i would only suggest that you do use SL with XAUUSD (gold).
Google looks good for long bounce on weekly charts , possible 500 pips in next three weeks.
v3 looks great am trying it
Good luck everyone on NFP or after it:D
Terrible NFP figures, i am not sure anymore at all if tappering will come on 17th. Was a nice pick on GU EU AU whoever picked pullback trades.
Gold is dangerous to sell now but small pullbacks might come on: 1400,1403 and 1404.
99.252 should give nice short on UJ, hopefuly before market closes, same for EJ 130.500.
I got out of my short of UJ at around 15GMT with 40 pips profit. Have a good week end.
I still dont understand this system sorry janpec 
Can you please compile all your explanation/description about this system and put it in a doc or pdf file ,to contain these:
-the indicators which need to be used with their proper settings
-the timeframes on which this system works (ex: H1)
-the date when it works (ex: Tuesday-Thursday from 8am to 16pm)
-the pairs on which it works
-the entry point when to enter into a trade
-the exit point when to exit from a trade
-if using stoploss or takeprofit please specify this too if not then the orders will be closed at the exit point
If you are kind enough to do this i will create a professional EA upon this system for a reward and give it to you and anyone who needs it for free.
Nice tonyro44, i have gathered 10 pips on ej and 10 on uj.
I should have entered Google already when i called long, becouse it already gave over 200 pips on possible long entry. I will still look for long entries next week, hopefully Syria doesnt mess up the entry.
Proximus ye i know what you mean, at momment everything i described is a bit too separated and mixed, i will create complete PDF file of system but please dont expect it before 2 months becouse i am still pinching out system and adding stuff, so for final version of system i am expecting it in not sooner than 2 months.
Of course take your time man,no hurry, I`m also busy at the moment with some other projects, but when you have time to do it, then please do it, but the only request from me is that please include those key informations in the PDF which i pointed out in the previous point, clear and precise entry/exit points, etc.
I will remain subscribed to this post but if anything should happen just write me a PM if i would forget it and i will build that EA for you, it should take no more than 1 week to build it but i guess the optimization will also take a few other weeks too.Good luck with your system until then! :53::53: